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Thursday, October 13, 2016

RIL's energy biz cash flow to offset outgo on spectrum: S&P
S&P Global Ratings yesterday said its rating on Reliance Industries is unaffected as the company's energy projects will soon start generating cash flows and offset the impact of outgo because of large spectrum purchase. S&P said RIL's spending of Rs 13,700 crore on the spectrum purchase was much higher than anticipated and reflects focus on meeting growth in data with adequate capacity and also the strong subscriber response to the launch of its Jio service in September 2016.

Bank of Maharashtra renews tie-up with United India Insurance
State-run Bank of Maharashtra (BoM) yesterday said it has renewed its corporate agency tie-up with United India Insurance Company (UIIC). Customers can buy the entire gamut of UIIC products at any of the 1,896 branches of the bank across the country, the lender said in a release here. They can buy insurance products related to motor, fire, health, marine, overseas travel policy and personal accident from the bank's branches.

International Presence to mark 28th edition of Index      
UBM Index Trade fairs, organisers of the flagship show INDEX FAIRS, are hosting the 28th edition of India`s leading international interiors, architecture and design events from 13th-16th October at a new and a bigger venue this year, the Bombay Convention & Exhibition Centre.   This year, the show will have presence of over 400 brands and is proud to include country pavilions from China, Turkey and Taiwan along with other international participation from Japan, UK, Malaysia, Italy, France and Thailand.

Vijay Laxmi Developers launches BLISS
Vijay Laxmi Group,a leading manufacturers of textiles & Embroidery, has earned icon status in real estate. Vijay Laxmi Developers is on the go with the launch of its new residential project called “Bliss”at Andheri East. The project is I.G.B.C. certified. Vijay Laxmi has been a prominent name in the real estate industry and a reputed housing brand in Mumbai for several years now. With the launch of their exquisite and prestigious project “Bliss”, they have turned new leaves of stylish living and flamboyant lifestyle.

Jerai Fitness introduces championship contest
Mumbai based and India’s largest manufacturer of fitness equipments, Jerai Fitness has launched a championship contest, ‘Strongest Mumbaikar’ will be judged by a panel of eminent judges headed by well-known builder and winner of ‘Senior Mr. India Body Building Championship Maharashtra, Yatinder Singh.   ‘Strongest Mumbaikar’ will be held on October 14, 2016 at NSE Grounds in Mumbai. This championship is open for both, male and female participants.  Rajesh Rai, Managing Director, Jerai Fitness, said: “The winner will promote a CSR initiative of Jerai Fitness across villages of Maharashtra to train young boys and girls in bodybuilding techniques in association with local Gram Panchayats of the State.”

IBJA Gold to set up 100 stores in 3 years
To promote high quality branded gold coins, jewellers body India Bullion and Jewellers Association (IBJA) has tied up with Rajesh Wadhawan Group to retail specialised gold coins and is aiming to set up 100 stores in three years, a company top executive has said. "We have already set up a store in Mumbai and are planning to open 100 stores, mainly in big cities, on franchise basis that will offer coins in up to 50 grams in over 500 designs. The store also offers customised coins according to taste and requirement," IBJA Gold Business Head Deepak Tulsian told PTI here.

Kelvinator launches Festive Bonanza Consumer Offer
Kelvinator, a leading and oldest home appliances brand, is all set to make this festival time special by launching Festive Bonanza Offer for its consumers. As part of this offer, on purchase of Kelvinator products ranging from Frost Free and Direct Cool Refrigerators to Fully-Automatic and Semi-Automatic Washing Machines, customers can take home attractive gifts. The company is also offering finance scheme, using which customers can take home their dream Kelvinator products. Through this offer, Kelvinator aims at 40% sales growth over the same period last year.

Gems, jewellery exports up 11% in Apr-Aug FY'17
Exports of gems and jewellery grew by 11% to USD 14.43 billion during the first five months of the current fiscal, driven largely by demand in India's major markets like the US. In April-August period of the last fiscal, exports from the sector were at USD 13 billion, according to the data from Gems and Jewellery Export Promotion Council (GJEPC). Gems and jewellery contribute about 14% to the country's overall exports.

IOC to lay India's longest LPG pipeline
State-owned Indian Oil Corp (IOC) plans to lay the nation's longest LPG pipeline from Gujarat coast to Gorakhpur in eastern Uttar Pradesh to cater to growing demand for cooking gas in the country. IOC plans to import LPG at Kandla in Gujarat and move it through the 1,987 kilometer pipeline to Gorakhpur via Ahmedabad (in Gujarat), Ujjain, Bhopal (in Madhya Pradesh), Kanpur, Allahabad, Varanasi and Lucknow (in Uttar Pradesh).

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