Credit Information Bureau (India) Ltd (CIBIL) today launched CIBIL iScan to provide banks with comprehensive details of corporate's credit history spread across all financial and credit institutions.
The move is aimed at helping financial institutions in reducing the risk and time taken in opening current accounts by providing them a concise view of all the credit relationships the entity has across other financial institutions.
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SEI launches Under Floor Air Distribution system in India * Schneider Electric India (SEI) today said it has launched its first B2C product 'Under Floor Air Distribution' (UFAD) system in the country.
"India is one of the most promising markets for us and we are glad to be a part of this major launch. Through...UFAD, a new concept of comfort cooling, Schneider Electric will mark its entry into B2C space, as UFAD is meant for office space and other public utility structures' cooling needs," its GM (Access Floor Business) Alberto Caporali said in a statement.
Schneider Electric plans to start production of UFAD at its Bengaluru unit in June this year. SEI as an organisation has made huge investment in developing state-of-the-art manufacturing facilities in India, and with a strong R&D back up it will now start production of UFAD in India, he said.
The UFAD will be developed under new line of manufacturing, which will be under the ETO (engineer-to-order), he said.
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MCX conducts commodity awareness programmes in eastern India * To ensure financial inclusion and raise financial literacy level in the eastern region, Multi Commodity Exchange of India Ltd (MCX) had organised 13 commodity awareness programmes in tier-II and III cities of Bihar, Jharkhand, West Bengal, Odisha, and Assam.
"We have organised commodity awareness programmes in the tier-II and III cities of Bihar, Jharkhand, West Bengal, Odisha, and Assam, in February, enabling people to learn the basics of commodity futures market," MCX said in a statement.
HealthQuad's fund raises Rs 65 crore
* Private equity firm HealthQuad today said its healthcare-focused venture capital fund has raised Rs 65 crore.
"HealthQuad announces the first close of its specialist healthcare focused venture capital fund," it said in a statement.
The fund is focused on investing in early stage healthcare companies in India, through a pre-series A/Series A round of funding with ticket size range Rs 1 crore to Rs 15 crore.
The fund investment strategy would be focused on investing in key healthcare sub-sectors namely healthcare delivery services, life sciences, devices and medical technology and health IT.
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Gamesa India commissions 58 MW solar projects in Q1 * Renewable Energy firm Gamesa announced commissioning of 58 MW of solar power projects in the first quarter of 2016.
The projects have been commissioned in the states of Tamil Nadu, Telangana and Uttarakhand, the company said in a statement today.
It was responsible for engineering and design, supply of inverters, erection and commissioning of the orders comprising of 58 MW of solar power, the company said.
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FCB Ulka Interactive bags Vero account
* FCB Ulka Interactive, a division of FCB Ulka Group, today said it has bagged the creative and media duties for Vero, which makes coffee machines.
The account will be managed from the agency's Mumbai office, FCB Ulka said in a statement.
"Post a creative and strategy presentation done by five agencies and two rounds of evaluation, FCB Ulka was finalised as the agency to manage the business," Vero Vice President Priya Gandhi said.
FCB Ulka Interactive's clients include ICICI Bank, Skoda, Amul, Tata Housing and Tata Consultancy Services, among others.
Tata Investment Corp Q1 PAT down 7.28% at Rs 34 cr
* Tata Investment Corporation Ltd today reported 7.28 per cent decline in profit after tax at Rs 33.87 crore for the first quarter ended June 30, 2016.
The company had posted a profit after tax of Rs 36.53 crore in the same period last fiscal, Tata Investment Corporation said in a BSE filing.
Total income during the period under review stood at Rs 46.88 crore as against Rs 48.86 crore in the same quarter last fiscal, down 4 per cent.
Shares of Tata Investment Corporation ended the day at Rs 495.50 apiece, down 1.32 per cent on BSE.
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Himalaya launches HiOwna Momz for expecting mothers * Himalaya Drug Company today launched HiOwna Momz, a nutritional health drink supplement for pregnant and lactating mothers.
"With the launch of HiOwna Momz, Himalaya is targeting 10 per cent of the current share of pregnancy and lactation ethical nutraceutical market, which is valued at approximately Rs 80-90 crore," a company statement issued in Mumbai said.
The ethical nutraceutical market, promoted via doctors, is valued at Rs 743 crore and is growing at 10 per cent.
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ICC plans report on FDI in food retailing, NPA * Indian Chamber of Commerce has decided to prepare a detailed report on retailing of food products in India with a special focus on West Bengal which has a potential in agriculture and food processing.
"We have decided to undertake a study on food retailing in the wake of 100 per cent FDI permitted by the Centre. The study will keep a focus on West Bengal where agricultural strength is high for harness," ICC president Aditya Agarwal said in Kolkata.
Adding further, ICC vice-president Shashwat Goenka said the report will be recommendatory in nature bring forward the issues, potential and recommendations for both state and central government.
