Biyani eyeing to buy out HyperCity

Speculations are rife in the marketplace that Future Group chief Kishore Biyani is keen to buy out grocery retailer HyperCity which has a strong presence particularly in western India. According to a news report recently published in a national daily, both the parties are engaged in a parley to give a finalise the deal. HyperCity profile includes as many as 20 hypermarket stores which would significantly add to the portfolio of Future Group. HyperCity had reported a topline of Rs 1,077 crore in the fiscal 2016-17. “The deal involves Rs…

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Balmer Lawrie to commission its Vizag logistics hub early next year

The state-run diversified firm Balmer Lawrie is likely to commission its multi-modal logistic hub at Vizag in the January-March quarter of the current fiscal, a senior official of the company recently indicated.   “We are setting up multi modal logistics hub (MMLH) project at Vizag in partnership with Visakhapatnam Port Trust (VPT). In this MMLH, facilities will be created for handling Exim (export and import) and domestic cargo. The commissioning of the same is expected in the last quarter of financial year 2017-18,” company’s Chairman and Managing Director Prabal Basu…

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Maharastra contemplating subsidized solar power supply to cold chain units

In order to reduce the input cost of farmers and cold chains dealing with perishables, Maharashtra government is contemplating several measures including supplying subsidized solar power to the cold storage units. According to a recent news report, the state government is waiting for the final report from a high level committee headed by the executive director of Maharashtra State Agricultural Marketing Board. The report underlines that providing subsidized solar power is one of the key measures under consideration. The committee is expected to submit its report by the end of…

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Over 10 percent growth in exports

In continuation with the positive growth exhibited by exports for the last twelve months, exports during August 2017 have shown growth of 10.29 per cent in dollar terms valued at US $ 23818.83 million as compared to US $ 21597.09 million during August,2016. During August 2017, major commodity groups of export showing positive growth over the corresponding month of last year are: Engineering Goods (19.53%), Petroleum Products (36.56%), Organic & Inorganic Chemicals (32.41%), Drugs & Pharmaceuticals (4.21%), and RMG of all Textiles (0.56%) Cumulative value of exports for the period…

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State Transport Ministers to discuss seamless transport provisions

The 38th meeting of Transport Development Council and State Transport Ministers is scheduled to be held at Vadodara in Gujarat on the 19th September. Nitin Gadkari, Minister for Road Transport & Highways, Shipping and Water Resources, River Development & Ganga Rejuvenation said in a statement late last week that Transport Ministers of all states will come together in the day long meeting to discuss issues like public transport reforms, the status of Vahan and Sarathi sites under Transport National Register, Seamless Transport across state borders, identification of Black Spots, Digitalisation…

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Zebra launches new industrial printers

To help manufacturers meet the growing demand and increase operational visibility, Zebra is introducing its new ZT600– and ZT510-series industrial printers designed to withstand the harshest environments while delivering superior print quality and uptime. KEY FACTS – ZT600- and ZT500-Series Printers The next-generation ZT610 and ZT620 maintain Zebra’s legacy of producing durable, reliable printerswith fast print speeds that increase productivity in the retail, manufacturing, transportation and logistics and healthcare industries. Building on the success of the Xi4 series, the ZT600 printer series offers new user-friendly features like simplified media and ribbon loading, a highly…

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JICA loan to upgrade Alang-Sosiya shipyards

The Government of India signed a loan deal worth $76 million with Japan International Cooperation Agency (JICA) last week for a project to upgrade the environment management plan at Alang-Sosiya ship recycling yards. The total cost of the project will be $ 111 million, out of which $76 million will be provided as soft loan from JICA. Out of the remaining amount, $25 million as taxes and fees will be borne by Government of Gujarat and the balance $10 million will be shared by Ministry of Shipping & Government of…

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Competition Commission imposes Rs 11 crore fine on ten transport companies

Unfair practices watchdog, Competition Commission of India, recently in an order imposed Rs 11 crore fine on ten transport companies. This was following a complaint filed by Western Coalfields alleging transport companies resorting to unfair practices. Western Coalfields Limited had earlier approached Competition Commission of India (Commission) alleging bid-rigging by SSV Coal Carriers Private Limited, Pravin Transport, Khandelwal Transport, Khandelwal Earth Movers, Khanduja Coal Transport Co., Punya Coal Road Lines, B. Himmatlal Agrawal, Punjab Transport Co. and Avaneesh Logistics Private Limited, upon noticing identical price quotes given by them in four…

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Petrol/diesel prices not market driven, says industry body

 Consumer is getting restive about a three year high in the petrol and diesel prices because the concept of market-determined rates was tampered with by frequent tax hikes when the crude oil prices fell steeply and are ruling at exactly half the level of USD 107 per barrel in  May, 2014 even after  rising in the last three months .    “It is true that the crude oil has shot up by about 18 per cent from USD 45.60 per barrel , taking the pump prices of petrol  in Delhi (for…

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