Kolkata Apr 26 PTI Shriram Properties Ltd has entered into an agreement with LOGOS for potential sale of up to 90 acres of land in Shriram Grand City at Uttarpara here for an undisclosed sum officials saidLOGOS intends to develop the land into a modern and sustainable logistics park offering around 22 million square feet of industrial and warehousing space they saidThe company is likely to invest Rs 766 crore in the project which could generate 50000 direct and indirect jobs in West Bengal the officials saidWe look forward to working with SPL on this future transaction and entering West Bengal the leading gateway to Eastern India to bring best practices in ESG and high-quality logistics and infrastructure to this market Managing Director and Co-CEO of LOGOS Trent Iliffe said in a statementChairman and Managing Director of Shriram Properties Ltd M Murali added LOGOSs proposed investment in Shriram Grand City will transform the micro-market and allow us to realise superior value for both companies stakeholders PTI BSM RBT RBT

Kolkata Mar 25 PTI Emami Ltd on Friday said it has acquired prickly heat powder brand Dermicool from Reckitt Benckiser Healthcare India Pvt Ltd at a consideration of Rs 432 croreThe acquisition was funded from internal accruals the company said in a statementThe acquisition of Dermicool brand offers great synergy with our existing businesses and is a perfect strategic fit It will strengthen our presence to make us number 1 in the prickly heat powder cool talc category said Harsh Agarwal Director of Emami The company considers acquisitions that not only add value and have synergy with the current line of businesses but also offer opportunities for the organisation to be present in categories that have high growth potential he added PTI BSM RBT RBT

Kolkata Feb 18 PTI Mining major Coal India has flagged an urgent need for price hike of the dry fuel contending that without which certain subsidiaries would find it difficult to survive company sources said on FridayIt is also trying to bring stakeholders on board to build a consensus for hiking prices they saidIn an effort to tide over inflationary pressure the miner will likely raise prices after the assembly elections in five states including Uttar Pradesh in March the sources saidEvery day is critical for me A price hike has become very urgent For certain subsidiaries survival depends on it Coal India Chairman Pramod Agrawal is understood to have told investors on Thursday they saidAgrawal however did not disclose the name of the subsidiariesGlobal coal prices have been on the higher side which has led to greater demand for the dry fuel from domestic sourcesHe also said wage negotiations are expected to be completed in 2022-23The mining behemoth is facing huge cost pressure from proposed wage hikes and fuel costs the sources saidIn the second quarter of the current fiscal higher diesel prices had resulted in cost inflation by around Rs 700 crore the chairman had said earlier PTI BSM RBT RBT

Kolkata Jan 23 PTI Buoyed by robust rural sector sales Usha International Ltd on Sunday said it is aiming to increase revenue from the segment to 25 per cent by 2023-24The company is also making efforts to double rural penetration in the next two to three years Usha International Senior VP Head - Rural Division Ajay Sharma told PTI The sector currently contributes 18-19 per cent to the fan and small appliance makers revenueDuring the recent festive season the companys sales in the rural markets witnessed a growth of 25 per cent it saidOur growth in rural segments has been twice that of urban areas Given the humongous size and diversity of Indias rural population it is safe to say that the value of goods and services consumed is greater in such regions We anticipate the rural belt to be a big growth driver for India in the coming five years Sharma saidOur objective is to cover towns with a population in excess of 20000 at least 50-60 per cent of those having a population of more than 10000 Ushas products are available in nearly 80000 villages he saidThe company will strive to ensure the required supply chain logistics inventories and integration of rural distribution systems as it aims to double market coverage in the hinterland the official saidWith growing mobile-led consumption in the small towns our focus is to further boost our digital market campaigns in various regional languages by increasing social media and other e-commerce platform spends he added PTI BSM RBT RBT

Kolkata Jan 20 PTI Coal India subsidiary South Eastern Coalfields Ltd has topped the 100-million tonne production mark in the 2021-22 fiscal and is making all efforts to achieve its ambitious output target of 172 million tonnes by March a company official said on ThursdayThe coal-production figure of SECL stood at 10019 million tonnes as on January 18 It is the only arm of Coal India to have produced dry fuel in excess of 150 million tonnes in the last three yearsIn 2020-21 the companys output was 1506 million tonnesSECL is supplying coal to power utilities on a priority basis the official said adding during the current fiscal it has dispatched 12156 million tonnes registering a growth of 14 per cent over the previous yearThe company operates more than 350 mines across eight states in the country PTI BSM RBT RBT

Kolkata Jan 18 PTI Mining major Coal India Ltd is committed to meet the elevated demand of the dry fuel from the power sector including coastal plants dependent on imports a company official said on TuesdayThe miner had hoped the demand would ease by December last year but that did not happen he said We are committed to catering to the coal needs of the power sector be it domestic or those dependent on imports despite CIL being stretched a senior company official told PTI when asked whether it was capable of plugging the gaps arising out of Indonesian supply disruptionsWe have already started supplying some amount of coal to the coastal plants to cut down on imports he addedIndonesia had banned coal exports since January 1 due to domestic shortages and the impasse still prevails This has led to a surge in prices in the international marketIndia imports 5-9 million tonnes of coal per month from Indonesia officials saidThe worlds largest miner is trying to keep up to the demand by dispatching over 175 million tonnes of coal per day to the power sector they saidIndias power consumption grew by 45 per cent in December 2021 to 11034 billion units BU over the same period a year ago according to power ministry dataIn the first 16 days Coal Indias average daily production stood at 235 million tonnes It is targeting 670 million tonnes of production in the 2021-22 fiscal Till January 16 the total ouput was at 445 million tonnes PTI BSM RBT RBT

Kolkata Dec 30 PTI The Institute of Chartered Accountants of India has said it will oppose the Centres proposal to introduce three non-CA members into ICAIs disciplinary committee arguing that the move will impact fair judgementThe government through the Chartered Accountants Cost and Works Accountants and the Company Secretaries Amendment Bill 2021 has proposed the inclusion of two CAs and three non-CAs in the ICAI disciplinary committeeAt present the panel comprises two non-CA nominees and three ICAI membersThe bill has been sent by Lok Sabha to a Parliamentary standing committee for scrutinyWe oppose the proposal and will present our case before the standing committee when we are invited for hearing ICAI vice-president Debasish Mitra told PTI on the sidelines of a programme here on WednesdayHe said that non-CAs wont have the in-depth knowledge of accounting which is a must for fair judgement Mitra also said ICAI would focus on adapting new technologies like artificial intelligence along with forensic auditing and upgrading its code of ethics PTI BSM RBT RBT

Kolkata Sep 21 PTI Hilsa the darling of fish lovers across West Bengal could make it to more households this year with neighbouring Bangladesh announcing higher export quantity of the silver cropThe Bangladesh government will ship 30 per cent more Hilsa fish to India ahead of the festive season starting with Durga Puja an official saidHilsa from the Padma river is a much sought-after delicacy for fish lovers and the neighboring country will export about 2000 tonnes of the silver crop as against 1400 tonnes last year he saidThe first shipment of around 20 tonnes of the Padma-Meghna river variety is expected to be available in local markets by Thursday or Friday an office bearer of the West Bengal Fish Importers Association saidThe size will likely be between 800 gm and 1500 gm and the price upwards of Rs 1500 traders saidHilsa considered a nonpareil delicacy when fried smoked or cooked in mustard sauce typically travels up the rivers Ganga Brahmaputra and Irrawaddy from the Bay of Bengal during the rainy season to spawn PTI BSM RBT RBT