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Hindustan Syringes gets approval to resume production at Faridabad plants

The Commission for Air Quality Management (CAQM) has allowed Hindustan Syringes and Medical Devices (HMD) to continue operations at its Faridabad plants. The company had been issued a voluntary closure notice over pollution.

Shriram Capital, Shriram City Union to merge with Shriram Transport

Shriram group will merge Shriram Capital Ltd (SCL) and Shriram City Union Finance Ltd (SCUF) with Shriram Transport Finance Ltd (STFC) as part of restructuring in the group. The new entity will be named Shriram Finance Ltd. The merged entity would have a combined Assets Under management (AUM) of over Rs 1.5 trillion and a distribution network of over 3500. All of these would be serviced by a team of 50,000 employees.

Grofers rebrands itself as Blinkit with pivot to instant commerce

Grocery delivery startup Grofers has rebranded itself as Blinkit apart from pivoting the company's business model to quick commerce, Co-founder and CEO Albinder Dhindsa said in a blog post. "Once upon a time, a few months ago, we started on a journey to build the future of commerce with 10 minute delivery of most of the stuff our customers need in their daily lives. Today, we already process over a million orders a week, across 12 cities in India. And this is just a start," he wrote.

SC seeks response of Centre, Uber, Zomato on plea for gig workers' benefits

The Supreme Court Monday sought responses from the Centre and firms including Uber and Zomato on a plea of an organization of transport workers serving app-based service providers seeking social security rights available for unorganized sector workers under the law. The plea by Indian Federation of App-Based Transport Workers (IFAT) has sought formulation of welfare schemes like health insurance, maternity benefits, pension, old age assistance, disability allowance and completion of vaccination at aggregators' cost on priority basis for gig workers.

Greenlam shares gain after board approves 5-for-1 stock split

Greenlam Industries rose 1.34% to Rs 1,710 on Monday after the company's board approved a proposal of splitting each equity share of face value of Rs 5 into five equity shares of face value of Re 1 each. Separately, the company informed that the board of its wholly-owned subsidiary Greenlam South (GSL) has approved setting up a greenfield project for manufacturing of Particle Board and allied products at Naidupeta, Nellore in Andhra Pradesh. The investment required for this project is Rs 600 crore and the plant would be operational by the fourth quarter of financial year 2023-24.

Gravita India starts battery recycling unit in Gujarat; to invest Rs 62 cr

Recycling firm Gravita India on Monday said it has operationalised its new battery recycling unit near Mundra Port in Gujarat and plans to invest a total of Rs 62 crore to enhance its overall capacity to 48,000 MTPA. In Phase-I, the plant has a capacity of 19,500 MTPA and the company has incurred a capital expenditure of Rs 32 crore on it, out of which Rs 26 crore has been funded through external borrowings and remaining by internal accruals, Gravita India said in a regulatory filing.

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