Amara Raja Batteries, Reliance Industries and ISGEC Heavy Engineering to see some action today

Amara Raja Batteries is planning to invest about $1 billion in the next five to seven years towards capex to be spent for both organic and inorganic growth. The company would be focusing more on the new- age energy storage systems such as Lithium-ion Technology keeping in view of the market trends as Lead Acid battery market growth rate is expected to taper off over a period of time.

The government has granted auto fuel retailing license to seven new entities including Reliance Industries and Reliance BP Mobility (RBML) -- a joint venture of Reliance and BP. The licenses were given under a new liberalized rule that allows any entity with a minimum net worth of Rs 250 crore to apply for authorization to retail petrol and diesel. The company already had a fuel retailing license, under which it had set up over 1,400 petrol pumps in the country. But this license was transferred to its subsidiary Reliance BP Mobility.

ISGEC Heavy Engineering has received a significant order for a 175 KLPD Multi-feed Distillery from Dwarikesh Sugar Industries Ltd. for their site at Bareilly, Uttar Pradesh. The Multi-feed Distillery of 175 KLPD capacity is based on Sugar Cane syrup, B-Heavy Molasses and Final Molasses to produce Absolute Alcohol (Ethanol) for blending with petrol (EBP). The project also includes a 40 TPH Slop Fired Incineration Boiler and 5 MW Power Plant with Extraction/Condensing type Turbine and Balance of Plant on turnkey basis.

Balrampur Chini Mills’ Board of Directors has approved further capacity expansion of ethanol production from 840 KLPD to 1050 KLPD considering the huge untapped demand for ethanol due to the robust policies of Government of India on ethanol blending. Apart from the aforesaid expansion the Board has also approved additional capex for Modernization and upgradation of its sugar factories.

Vakrangee has now launched the complete bouquet of travel services across its platform and made services such as Domestic / International flight bookings operationally live across its entire network of more than 11,900+ Nextgen Vakrangee kendras. Through this, the company intends to provide digital travel services in the remotest parts of the country at the most competitive prices as well as provide its business partners with the unmatched reach in the unserved parts of the country and access to a unique untapped customer base. The company had partnered with TSI Yatra to offer Assisted Online travel services.

IDFC FIRST Bank has signed a Memorandum of Understanding (MoU) with the Indian Navy to offer Honour FIRST, a premium banking solution, to serving personnel and veterans of the Indian Navy. The Honour FIRST Defence Account is specially designed keeping in mind the needs of the Armed Forces and its veterans. Account holders of Honour FIRST are supported by a dedicated team of defence veterans.

Exide Industries has kicked off its Batmobile Doorstep Service facility and extended its scope to its range of inverters and inverter batteries also under a single umbrella.