TruckSuvidha gets funding support from GAIL

Ritwik Sinha After being in the business for over five years, online freight transport aggregator TruckSuvidha has received funding support for further expansion. And the support hasn’t typically come from PE or VC quarters but rather from a public sector enterprise – Gas Authority of India (GAIL). “ They had given us a milestone based project which we successfully executed. The funding happened after that,” Ishu Bansal, Co-Founder of the platform told supplychainlog in an exclusive conversation. He, however,  refused to divulge the funding size even as he asserted that…

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TCI reports marginal topline growth in H1

The current economic slowdown has also begun to impact the financial performance of leading logistics players in the country. The first half results of Transport Corporation of India (TCI) is probably a proof of that wherein the company has reported a small revenue growth of 3.1 pecent at the end of first half of the current fiscal.   The company earned Rs 1,256 crore during the first six months as against Rs 1,218 crore in the corresponding period last year.   Commenting on the results, Vineet Agarwal, Managing Director, TCI said,…

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MoU signed to shorten freight shipment time between India and Thailand

At the maiden BIMSTEC Conclave of ports held last week in Vizag, three Memorandums of Understanding (MoUs) were signed between Ranong Port (Port Authority of Thailand) and the Port Trusts of Chennai, Vishakhapatnam and Kolkata. These MoUs will contribute to BIMSTEC objectives of strengthening connectivity and is part of India’s Act East Policy. These MoUs will enhance connectivity between ports on Thailand’s West Coast and Ports on India’s East Coast i.e. Chennai, Vishakhapatnam and Kolkata. These MoUs will enhance economic partnership by cutting down the sea travel time between India…

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Emirates SkyCargo initiates dedicated e-commerce delivery platform

Global air cargo major, Emirates SkyCargo– the freight division of Emirates, has launched Emirates Delivers – a new e-commerce delivery platform that allows customers shopping from multiple online retailers in the US to consolidate their purchases and have the goods delivered to a home or office address. The services has been initiated in the UAE covering individual or small business customers and is in response to Dubai’s vision to become a global hub for e-commerce. Nabil Sultan, Emirates Divisional Senior Vice President, Cargo, said: “The launch of Emirates Delivers is…

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IFFCO Kisan plans to strengthen Swarnhar brand with new additions

Iffco Kisan, a subsidiary of fertilizer major Iffco, is all set to expand the ambit of its Swarnhar brand of food products in the near run. The company which primarily provides advisory services to the farming sector reaching out to over 4.5 million farmers daily has recently initiated Swarnhar brand offering spices products. While the launch of spices has been on a low key basis, speaking to indoasiancommodites Sandeep Malhotra, MD of the company said Iffco Kisan is gearing up to add more products to its portfolio in the next…

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China Airlines Cargo set to start dedicated service to Mumbai

China Airlines Cargo is all set to launch a dedicated freighter service to Mumbai around the middle of this month. According to a recent media report, Indian firm Group Concorde which is the existing general cargo sales agent for the Chinese airline in India,  has been entrusted with the responsibility of taking care of sales at the new destination. The airline is expected to maintain a weekly frequency of four flights to Mumbai and will particularly focus on pharma consignments. “China Airlines Cargo is a premium carrier and well-known brand…

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Detel’s TV & Accessories now available at Walmart Stores

Detel, the economical Feature Phone, TV and Accessories brand has tied up with Walmart India stores to sell its range of products in the Indian market. According to a company release, Detel is moving beyond its traditional route of reaching out to its customers. Right from tapping communities like Dabbawala, to opening its exclusive stores and now by associating with the giant retail brand like Walmart, Detel aims at making its products easily available across the country. The objective is to strengthen its foothold across metros as well as in…

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NTPC reports over 6 percent jump in revenue in H1 FY20

Domestic public sector power major NTPC has reported total income of Rs 48,177.04 crore in H1, FY 20. This marks a growth of 6.29 percent as against last year’s corresponding period figure of Rs 45,325.94 crore.  In Q2 FY20, total income stood at Rs 23,658.23 crore as against 22,485.96 crore in the same quarter last year. During H1 FY20, NTPC generated 130.14 Billion Units with its coal stations achieving a Plant Load Factor of  69.04% as against National Average  of 57.87%. Profit before tax was Rs 6,660.11 crore in H1…

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Amara Raja Batteries reports highest ever quarterly profit

Amara Raja Batteries, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT) has reported a revenue of Rs 1695.31 crores in Q2 FY 20 (Rs 1753.05 crores) with a growth of (3%) and profit after tax (PAT) of Rs. 218.85 crores (Rs 120.23 crores). This represents the highest ever profits reported in a quarter by the company. Both automotive and industry battery businesses have recorded healthy volume growth during the quarter barring Automotive OE segment. The demand for AMARON and POWER ZONE brands in registered significant uptick in replacement market…

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Bridgestone India to join EMEA SBU

Global tyre major Bridgestone has announced that from 1 January 2020, its India business will fall into the EMEA Strategic Business Unit (SBU), transferring from the China Asia-Pacific SBU. As a result, Bridgestone Europe, Russia, Middle East and Africa (BSEMEA) will become Bridgestone Europe, Russia, Middle East, India and Africa (BSEMIA), one of four SBUs globally, alongside Bridgestone China Asia-Pacific, Bridgestone Americas, and Bridgestone Japan. The integration of Bridgestone India into EMEA comes as a result of Bridgestone EMEA’s ongoing transformation capitalising on the opportunities digitalisation offers to pioneer mobility solutions…

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