Styrolution inaugurates new Absolan line in Gujarat, India

Styrolution, the global leader in the styrenics industry, has inaugurated a new line for the high performance styrenic specialty product Absolan at its Katol site located in Gujarat, India. The new 40,000 mt line intends to meet the growing demand for Absolan across key growth industries in India. Absolan customers will benefit from improved local service and greater security of supply. The move to increase domestic supply of styrenic specialties in India aligns with Styrolution’s Triple Shift growth strategy, which puts a greater focus on higher growth industries, styrenic specialties and ABS Standard, and emerging markets.

Styrolution ABS is engaged in manufacturing and selling acrylonitrile-butadiene-styrene and styrene-acrylonitrile and other products to industries, such as consumer durables, automobiles, business machines, telecommunications, electronics, etc.

HDFC MF launches the New Fund Offer of HDFC FMP 367D MAY 2014 (2)

HDFC Mutual Fund has launched the New Fund Offer (NFO) of HDFC FMP 367D MAY 2014 (2), a close ended income scheme. The NFO opens for subscription on May 09, 2014, and closes on May 12, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 10 thereafter.

The scheme’s performance for Plans having maturity upto 91 Days will be benchmarked against: Crisil Liquid Fund Index, for Plans having maturity more than 91 Days and upto 36 months: Crisil Short Term Bond Fund Index and for Plans having maturity more than 36 months: Crisil Composite Bond Fund Index and its fund manager is Shobhit Mehrotra.

The investment objective of the Plans under the Scheme is to generate income through investments in Debt/ Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s).

Deutsche MF launches the New Fund Offer of DWS FMP- Series 69 (DFMP-69)

Deutsche Mutual Fund has launched the New Fund Offer (NFO) of DWS Fixed Maturity Plan- Series 69(DFMP-69), a close ended income scheme. The NFO opens for subscription on May 09, 2014, and closes on May 19, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 10 thereafter.

The scheme’s performance will be benchmarked against CRISIL Short Term Bond Fund Index and its fund manager is Rakesh Suri.

The investment objective of the Scheme is to generate income by investing in debt and money market instruments maturing on or before the date of the maturity of the Scheme.

Stone India signs an agreement with Shenyang Brilliant Elevatorenters

Stone India has signed an agreement with Shenyang Brilliant Elevator, China, one of the biggest elevator company in PRC. This will enable the Company to enter into Escalator & Elevator business in India in targeted markets in Metros, Indian Railways and Government Projects.

Stone India, a multi-product engineering company located in Kolkata, has been serving the Indian rail road industry for over seven decades.

Glenmark Pharmaceuticals has reported results for fourth quarter and year ended March 31, 2014

The company has posted a rise of 78.61% in its net profit at Rs 151.66 crore for the quarter ended March 31, 2014 as compared to Rs 84.91 crore for the same quarter in the previous year. Total income of the company increased by 34.28% at Rs 687.25 crore for quarter under review as compared to Rs 511.79 crore for the quarter ended March 31, 2013.

On consolidated basis, the company has reported 74.97% fall in its net profit at Rs 43.06 crore for the quarter ended March 31, 2014 as compared to Rs 172.08 crore for the same quarter in the previous year. However, total income of the company has increased by 27.09% at Rs 1691.48 crore for quarter under review as compared to Rs 1330.90 crore for the quarter ended March 31, 2013.

For the year ended March 31, 2014, the company has posted a jump of 12.35% in its net profit at Rs 433.82 crore as compared to Rs 386.10 crore for the same period in the previous year. Total income of company improved by 14.64% at Rs 2368.03 crore for year under review as compared to Rs 2065.54 crore for the period ended March 31, 2013.

For the year ended March 31, 2014, on the consolidated basis, the company has posted a fall of 12.54% in its net profit at Rs 542.27 crore as compared to Rs 620.03 crore for the same period in the previous year. However, total income of company has increased by 19.78% at Rs 6016.68 crore for year under review as compared to Rs 5023.08 crore in the previous fiscal.

Jubilant FoodWorks’ Dunkin' Donuts to open two restaurants in Mumbai

Jubilant FoodWorks' Dunkin' Donuts (DD), world's leading baked goods and coffee chain will be opening its first restaurants in Mumbai. It will open two restaurants on the same day, one at Linking Road, Khar and the other at Phoenix Market City, Kurla. Both the restaurants will open for consumers on May 10, 2014.

After a very successful start in North India, these would be Dunkin’ Donuts first two restaurants in West India and takes its total restaurants count in India to 27.

Jubilant FoodWorks is a part of Jubilant Bhartia group and India’s largest food service company, with a network of 700 Domino’s Pizza restaurants as of March 19, 2014 across 142 cities. The company also has exclusive rights for developing and operating Dunkin’ Donuts restaurants for India.

Sita Shree Food Products’ plant situated at Dewas district starts commercial production

Sita Shree Food Products’ Oil Refinery Plant, Lecithin Plant, Acid Oil Plant and Fatty Acid Plant situated at Barlai Jagir nearby Dewas district in state of Madhya Pradesh has successfully started commercial production on May 08, 2014. Sita Shree Food Products is engaged in the business of wheat processing and pulse processing. Products are sold in its own brands that are ‘Sita Shree Regular’ and ‘Sita Shree Gold’ or sold to other brands. It is a supplier to major retail players such as Reliance Retail, Pantaloon Retail and Satnam Overseas.

NIIT launches multiple new-age career opportunities under ‘ReVOLUTION GNIIT’

NIIT, leading Global Talent Development Corporation, has launched ‘ReVOLUTION GNIIT’- a path-breaking GNIIT program that maximizes career opportunities for class XII and college students by offering a range of future-ready courses in - Banking and Finance, Digital Marketing and Social Media, Cloud & Mobile Software Engineering, Big Data and Business Analytics, e-Commerce & Business Administration and Cloud Computing & IT Management.

For the first time ever, this offers students the flexibility to choose options from a range of multiple new-age career programs, aligned to the evolving needs of the knowledge economy.

NIIT is a market leading, global learning outsourcing company which provides a comprehensive suite of managed training services including Curriculum Design and Content Development, Learning Administration, Learning Delivery Management, Learning Technology (including LMS), Strategic Sourcing and Advisory Services.

Finolex Cables commissions captive Solar Power Plant of 5MW capacity

Finolex Cables has commissioned the captive Solar Power Plant of 5MW capacity in March, 2014. The said plant was constructed at a cost of Rs 38.50 crore. The board of directors at its meeting held on May 08, 2014 has taken the note of it. Finolex Cables is part of the diversified Finolex Group. The company manufactures wide range of  cables such as PVC insulated electrical cables, Flameguard - FRLS cables, auto and battery cables, PVC winding wires, jelly-filled telephone cables, LAN cables, switchboard cables. It is India's largest and leading manufacturer of electrical and telecommunication cables.

CRISIL assigns ratings to Bank Facilities, Fixed Deposits programme of SRS

Credit rating agency, CRISIL has assigned its ratings to the Bank Facilities and Fixed/Public Deposits programme of SRS. The credit rating agency has assigned ‘BBB/Stable’ ratings to the Bank Facilities of the company while it has assigned ‘FA-/Stable’ ratings to the Fixed Deposit programme of the company.

SRS is a diversified company with a business portfolio comprising of cinema exhibition, food and beverages, retail and manufacturing and retailing of jewellery. It sells a wide range of gold and diamond jewellery under the brand name of SRS Jewells.