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Business Standard

Assurance Intl plans to hire 2,000 people in India over next two years

Automotive ancillaries player Assurance Intl Ltd on Friday said it is planning to hire 2,000 people in India over the next two years as part of its growth strategy and elevate sales of licensed products for various global brands. The recruitment drive will focus on attracting top talent across key regions in India, offering diverse opportunities in engineering, sales, customer support, and operations, the company said in a statement. "The addition of 2,000 new positions will not only support our strategic initiatives but also play a vital role in enhancing sales and delivering exceptional customer value," Assurance Intl CEO Mukesh Sharma said. This recruitment initiative is a crucial component of Assurance Intl's long-term strategy to remain competitive in the rapidly evolving automotive landscape. Gurugram-headquartered Assurance Intl is into manufacturing and marketing company for automotive products known as lubricants, batteries, filters, accessories, and spare parts. It has ab

CNBC TV18

Allcargo Gati shares gain after company announces general price increase from January 2025

Allcargo Gati Share Price | A prominent player in the logistics and express delivery industry, Allcargo Gati will conduct a price revision for its Express Distribution services, with effect from January 1, 2025.

The Economic Times

Allcargo Gati announces general price increase on express services from January 1, 2025

Allcargo Gati has announced a 10.2% general price increase for its express distribution services starting January 1, 2025. This is the first price revision since Allcargo's acquisition of Gati in 2019. The increase aims to align pricing with operational investments and maintain service quality amid rising fuel costs and inflationary pressures.

Business Standard

Tamil Nadu-based Ramco Cements ups grinding capacity by nearly one MTPA

Tamil Nadu-based Ramco Cements on Friday said it has increased its cement grinding capacity by nearly one million tonnes per annum (MTPA). The company has carried out debottlenecking of cement grinding capacity at its Kalavatala Plant in Andhra Pradesh, resulting in an increase of capacity from 1.5 MTPA to 2 MTPA. In addition, at its Valapady Grinding Unit, in Salem District, Tamil Nadu, it has carried out debottlenecking of cement grinding capacity leading to increase of capacity from 1.6 MTPA to 2 MTPA. "The company's total cement grinding capacity has increased by 0.9 MTPA, from 23.14 MTPA to 24.04 MTPA with an aggregate investment of Rs 58 crore," according to a regulatory filing by the company. It has received consent to operate from the competent authorities for the increase in capacities. Ramco Cements revenue for the financial year ended on March 31, 2024 was at Rs 9,349.83 crore. The company operates five integrated cement units and six grinding units.

The Economic Times

Ramco Cements increases grinding capacity by nearly one MTPA

Ramco Cements has boosted its cement grinding capacity by nearly one million tonnes per annum. The company increased capacity at its Kalavatala Plant in Andhra Pradesh and Valapady Grinding Unit in Tamil Nadu, bringing total capacity to 24.04 MTPA with an investment of Rs 58 crore. Revenue for the fiscal year ended March 31, 2024, was Rs 9,349.83 crore.

CNBC TV18

Ramco Cements increases grinding capacity in 2 plants with ₹58-crore investment

At the Kalavatala Plant in Nandyal, Andhra Pradesh, capacity was increased from 1.5 million tonnes per annum (MTPA) to 2 MTPA, while the Valapady grinding unit in Salem, Tamil Nadu, saw a hike from 1.6 MTPA to 2 MTPA. Shares of Ramco Cements Ltd ended at ₹837.25, up by ₹8.50, or 1.03%, on the BSE.

CNBC TV18

Axis Bank clarifies SEBI ruling on ACL applies only to new merchant assignments

Axis Bank clarified that SEBI's order restricting Axis Capital from taking on new merchant banking assignments in the debt segment will not impact other operations. The private lender reassured that all other business activities continue as usual.

Business Standard

Axis Capital to explore legal remedies against Sebi's ban on debt segment

Axis Capital on Friday said it is exploring legal remedies against markets regulator Sebi's order restraining the firm from taking up new assignments as a merchant banker for the debt segment. In a statement, the company clarified that Sebi has not imposed any other restrictions on Axis Capital and it will continue to operate all other business activities in the ordinary course in equity capital markets, infrastructure investment trusts (InvITs), real estate investment trust (REITs), M&A, private equity and institutional equities domain. On Thursday, the Securities and Exchange Board of India (Sebi), in an interim ruling, prohibited Axis Capital from taking up any new assignments in the capacity of a merchant banker, arranger or underwriter for any issue or offer for sale of securities in the debt segment. This restriction will remain in place until further orders. "ACL (Axis Capital Ltd) provided guarantee/indemnity towards redemption of NCDs (non-convertible debentures) in the ..

CNBC TV18

Sebi bars Axis Capital from taking new debt merchant banking assignments

In its interim order, Sebi said, "ACL provided guarantee/indemnity towards redemption of NCDs in the guise of underwriting, which it was not permitted to do under the existing regulatory framework."

Mint

Manglam Infra & Engineering, Kataria Industries & others hit 52 week low today ;Check the full list here?

Following shares hit their 52 week low today - Manglam Infra & Engineering, Kataria Industries, Divine Power Energy, NACL Industries, Divgi Torqtransfer Systems

The Economic Times

Ambuja Cements board approves merger of Adani Cementation with company

ACL has acquired land to set up 2.5 MTPA (million tonnes per annum) along with captive jetty at Amba River, Raigad (Maharashtra). Besides, it has commissioned 1.30 MTPA cement grinding capacity at Dahej, Gujarat in July 2023, where expansion is in progress for another 1.20 MTPA.