This is the second order it has received from ONGC in the current fiscal. It had received a Rs 270 crore order from ONGC in September last year.
Unlike several other ecommerce startups, which have chosen private equity route for funding, Ahmedabad-based Infibeam has preferred to raise Rs 450 crore.
After Patanjali, existing FMCG players may face challenge from Sri Sri Ravi Shankar’s Sri Sri Ayurveda
Established in 2003, SSA has products across categories such as breakfast cereals, health drinks, oil, spices, personal care, oral care, cookies and ready-to-cook items.
According to a BCG report, credit as a percentage of Indian GDP is only 97% compared with 127% in countries like Thailand and Malaysia.
At the higher end of the price band, HCG plans to raise Rs 650 crore, of which Rs 400 crore will be used to give a partial exit to the existing investors.
The government has announced Rs 4.5 per quintal of cane crushed production subsidy to curtail supply pressure.
The company’s businesses have been benefiting from the closing down of chemical companies in China, due to strict emission norms.
The cigarette industry was pleasantly surprised at the Budget which increased excise duty on cigarettes only 10% against an expectation of 15%.
Share price of the country’s largest cigarette maker ITC Ltd crashed immediately after the announcement, falling by 3.13% till 1 pm at the Bombay Stock Exchange (BSE).
Analysts said that USL will now be insulated from any legal challenges arising out of Mallya’s defaults with banks, which will actually bring down finance costs.
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