Category: AP

Vikas Lifecare Ltd acquires 30% stake in Ardh Sainik Canteen

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Vikas Lifecare Limited, as a measure of forward integration, has acquired 30 percent stakes in the Ardh Sainik Canteens in an all-cash deal worth Rs15 crore from its existing stakeholders in order to expand its retail footprint across India.

This will be another giant leap forward while moving at lightning speed on the path of carving a strong foothold in the consumer products retail market segment.

The company has been targeting a niche for itself in the retail market sector, including the e-commerce Market Place for Consumer Products, including the Agro Products business section, which has been increasing dramatically over the last 12-18 months.

Vikas Lifecare commits to expanding and broadening the commercial activities of Ardh Sainik Canteens as a strategic investment.

Ardh Sainik Canteen Stores (ASC) is a one-of-a-kind retail store concept owned by Abhyam Services Private Limited, in which Canteen (Retail) Stores are operated/opened across India by former paramilitary personnel/family members of current jawans in their hometowns.

Vikas Lifecare Limited engages in the trading of various chemical compounds, polymers, PVC resins, plastic granules, and products related to the plastic industry in India. It operates through Real Estate, Trading- Polymers, Trading-Cashew Nuts, and manufacturing divisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India a key contributor in global construction industry pegged to reach $14.41 trillion by 2030

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The concrete, construction and infrastructure industry are highly responsible for propelling India’s overall development and enjoys intense focus from the government for initiating policies that would ensure the creation of world-class infrastructure.

Increasing government investments in projects like the Sagarmala Program, Bharatmala Pariyojana, Gati Shakti Master Plan, development of 21 Green Field Airports in the country etc., has made the Indian market highly competitive and holds opportunities not only for big but also for small and medium players.

Amidst the pressing environmental challenges, especially regarding the cost of energy and increased overcapacity, World of Concrete India 2022 has presented technologies and solutions by bringing together the leading thought leaders, policymakers, and innovators in this space.

World of Concrete India is one of the leading trade fairs in the country, dedicated to concrete, where hundreds of exhibitors participate to showcase everything from cement to pumps, precast manufacturing products, technology, admixtures, testing and repair, and much more.

The show highlighted that innovation and sustainability are the need of the hour, and with its enhanced features, this year’s edition saw participation from over 7,000 visitors with more than 150 exhibitors, and over 50 speakers.

Key exhibitors included UltraTech, Schwing Stetter, Asian Paints, Jet Formworks, Mcon Rasayan, ESS EMM Chemicals, HROC, Vyara Tiles, VT Corp, Infinity Woodcraft & many more among many others. World of Concrete India 2022 is primarily supported by the Builders Association of India, the Water Proofing Association of India, and the Gujarat Contractors Association.

The Indian economy’s engine of growth and lifeline is its Infrastructure. India is expected to become the third largest construction market globally in 2022. The Government has focused immensely on developing better infrastructure across all sectors, be it National Highways, New Airports, among others, with the launch of INR. 1 trillion Gati Shakti National Master Plan.

Yogesh Mudras, Managing Director, Informa Markets in India said, “Population growth, urbanization, industrialization, and new economic opportunities equate to record expansion built on concrete. High levels of public and private investment are poised to catapult the construction boom and its demand for concrete. Innovation is the bedrock for moving to the next level. World of Concrete India held at BEC, Mumbai witnessed several innovations, patented products and technologies poised to be game changers for the industry. The event will play a key role in bringing the construction and infrastructure industries together and aiding the infrastructure industry growth, which is slated to reach $1.4 trillion by 2025.”

Amit Bansal, Partner, Deloitte India said, “Events like World of Concrete India are extremely important to create awareness about new construction techniques, new machinery, new equipment, and once we are all aware of such new technology it will lead to usage. The scale and speed at which some of these techniques should be adopted need to increase significantly.”

Toshihiro Kaneko, Deputy Consul General, Japanese Consulate said, “India has a bright future and Japanese companies would like to participate in this development and growth within India. We are happy to participate at the World of Concrete show to underline our commitment towards development in India”.

According to Niti Aayog, the Indian real estate sector is expected to continue its upward trajectory and is expected to reach a market size of $1 trillion by 2030 and will account for 13 percent of India’s GDP by 2025.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Best Agrolife Ltd receives A-credit rating from Care Ratings

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Indian agrochemical major Best Agrolife Ltd. (BAL) informed that CARE Ratings Limited has assigned a `CARE A-` rating to the long-term bank facilities of the company with a stable outlook, according to news agency ANI.

CARE assigned the rating to BAL`s bank facilities on the basis of the company`s long track record of operations, integrated operations of the group with a diversified product portfolio, and wide distribution network. The ratings further derived strength from the consistent growth in scale of operations at the compounded annual growth rate of over 23 percent over the past four fiscals ending FY22, ANI said.

It is noteworthy that CARE Ratings had allotted a credit rating of A- to Best Crop Science India Pvt Ltd (BCSPL), a wholly owned subsidiary of Best Agrolife Ltd, in July 2022.

Commenting on the upgrade, Vimal Alawadhi, MD, BAL, said, “This upgrade is an important milestone in our journey and reaffirms the strength of the organization and its leadership along with the financial and operational excellence. The upgraded rating reflects our perennial focus on executing our strategy and building a solid foundation for strong and reliable long-term leadership in the agrochemical industry.”

Listed among the top 15 agrochemical companies in India, BAL is engaged in the manufacturing of agrochemical products. The company offers more than 70 formulations of insecticides, herbicides, fungicides, and PGRs and retains one of the country`s most comprehensive portfolios with 360+ formulations and more than 80 technical manufacturing licenses.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow