Author: MM Desk

BluPine Energy has achieved a significant milestone in its renewable energy endeavors by successfully securing debt financing for its 120 MW Solar Project in Sadla, Gujarat. The financing, provided by HDFC Bank, India’s largest private sector bank, marks a crucial step forward in BluPine Energy’s mission to contribute to the renewable energy landscape and foster a sustainable future. The total debt sanctioned for this ambitious project amounts to INR 418 crores (USD 50.1 Million). Once operational, the solar plant is projected to generate approximately 3.23 lakh MWh of solar energy annually. This substantial output is expected to offset an estimated…

Himadri Speciality Chemical Ltd, headquartered in Kolkata, has unveiled ambitious plans to expand its specialty carbon black capacity through a brownfield project in West Bengal. With a significant investment of Rs 220 crores, the company aims to address the burgeoning demand from European markets, particularly in light of the impending ban on Russian carbon black imports by the EU. Scheduled to be operational within the next 18 months at Singur in the Hooghly district, this expansion initiative targets a substantial increase in the company’s specialty carbon black capacity by 70,000 tonnes per annum, raising the total to 1.3 lakh tonnes per annum.…

Gurpratap Boparai, the CEO of Automotive Businesses Europe and CEO of Mahindra Trucks and Buses, has tendered his resignation from Mahindra & Mahindra. Boparai has chosen to explore opportunities beyond the Mahindra Group, with his last working day slated for May 31, 2024.  Boparai, who joined Mahindra & Mahindra in 2022, played a pivotal role in spearheading the company’s European operations, overseeing Peugeot Motors and Automobili Pininfarina. His departure marks a significant transition within the organization. An internal circular from the company highlighted Boparai’s contributions, particularly in the Mahindra Truck and Bus Division and Construction Equipment, including driving divestment activities at Peugeot…

Pluss Advanced Technologies has launched a groundbreaking solution to address heat stress-related injuries and fatigue among outdoor workers with the introduction of Brrf PLUSS Jackets. Designed to combat the adverse effects of high temperatures on productivity and worker well-being, these innovative cooling wearables incorporate advanced technology to maintain thermal comfort in challenging environments. A recent study across 70,000 factories in India revealed a 4% decrease in productivity for every 1°C increase in temperature above 27°C. Recognizing the urgent need to mitigate heat stress, PLUSS developed Brrf PLUSS Jackets utilizing phase change materials (PCMs) that leverage the principle of energy storage…

Chennai, known for its vibrant culture and dynamic urban landscape, took a significant stride towards sustainable development with the Indian Green Building Council’s (IGBC) recent E3 Event. Grounded in the ancient wisdom of Panchabhuta, IGBC’s mission to promote sustainable practices resonated strongly at the event, which brought together industry pioneers, policymakers, and advocates. In collaboration with the Confederation of Real Estate Developers’ Associations of India (CREDAI), IGBC’s initiative aimed to foster a greener, more sustainable future, aligning closely with CREDAI’s 25th-anniversary celebration. The event highlighted the critical role of green buildings in nurturing both humanity and the planet, emphasizing the…

Eveready Industries India, a leading name in the battery and lighting solutions industry, announced a fourth-quarter net profit of ₹8 crore for the period ending March 2024. This figure marks a significant turnaround from the loss of ₹14.39 crore reported in the corresponding quarter of FY’23. Despite this positive development, the company experienced a marginal dip in operational revenue to ₹281 crore. However, on a sequential basis, the profit witnessed a slight decline compared to the December 2023 quarter. For the full fiscal year 2024, Eveready Industries reported revenues of ₹1,314.2 crore, representing a modest decline of 1% from ₹1,327.7…

Last September Seco launched a radically updated visual identity and a long-term brand strategy. The company described this as the first in a sequence of major steps, as the business positions itself as a leading global name for industry innovation, efficiency, and sustainability. On April 17, Transform Magazine hosted their yearly event Transform Awards Europe in London, which awards excellence in rebranding and brand strategy with a focus on transformative creativity, strategy and implementation. Seco won the prestigious Gold award in the category: Best Visual Identity from the engineering and manufacturing sector, which was accepted on stage by Per-Lennart Berg,…

Sandur Manganese Ltd. has set its sights on expansion with a strategic move into the steel sector. The company revealed on Thursday its plan to acquire an 80% stake in Arjas Steel Pvt. Ltd., a significant player in the Indian steel industry. The remaining 19.12% stake of Arjas Steel will be acquired by BAG Holdings Pvt. Ltd., an entity owned by one of Sandur Manganese’s promoters, Bahirji A. Ghorpade. While the financial terms of the deal were not disclosed, Sandur Manganese indicated that the Enterprise Value of Arjas Steel stands at approximately ₹3,000 crore. The acquisition is expected to be…

Tata Steel has affirmed its commitment to move forward with its Great British Pound (GBP) 1.25 billion investment to construct a cutting-edge Electric Arc Furnace for steel production in Port Talbot, in collaboration with the UK government. This decision comes after Tata Steel announced the closure of two blast furnaces in January, posing significant challenges for Port Talbot and the local unions. The proposed investment aims to replace the two blast furnaces with electric arc furnaces, marking a significant transformation for Britain’s largest steel plant. Tata Steel plans to initiate orders for the furnace equipment by September and commence construction by August 2025. In…

ACC Ltd, one of India’s leading cement manufacturers and a subsidiary of the Adani Group, has delivered impressive financial results for the fourth quarter ended March 2024. The company reported a remarkable 216% increase in standalone net profit, reaching Rs 749 crore compared to Rs 237 crore in the corresponding period last year. Additionally, its standalone revenue surged by 13% to Rs 5,398 crore from the previous year. On a consolidated basis, ACC’s net profit soared by a staggering 300% to Rs 945 crore in the quarter, compared to Rs 236 crore in the same period last year. Consolidated revenue from operations also saw robust growth,…