Categories
Market News Top 10 News

Heineken Acquires Additional 14.98% Stake in UBL – Top Indian Market News

Heineken acquires additional 14.98% stake in UBL

Dutch brewing company Heineken N.V. has acquired an additional 14.98% stake in United Breweries Ltd (UBL). Its total shareholding in UBL has increased from 46.5% to 61.5%. On June 22, SEBI had exempted Heineken from the obligation of making an open offer following its proposed acquisition of shares in UBL. 

A Debt Recovery Tribunal (DBT) has sold shares worth over Rs 5,800 crore of UBL, which was earlier attached under the anti-money laundering law as part of an alleged bank fraud probe against liquor baron Vijay Mallya. The DBT will further sell shares of UBL worth Rs 800 crore by June 25.

Read more here.

Dabur India to invest Rs 550 crore to set up manufacturing unit in Madhya Pradesh

Dabur India Limited has commenced construction of its largest manufacturing facility near Indore in Madhya Pradesh. The FMCG firm will invest Rs 550 crore to set up the new unit. The facility would manufacture a wide range of Dabur’s food products, ayurvedic medicines, and health supplements. The first phase of construction is scheduled for completion by the end of the current financial year (FY22). The unit is expected to provide direct and indirect employment opportunities to over 3,000 people at the end of the final phase. 

Read more here.

Piramal Pharma completes acquisition of Hemmo Pharmaceuticals

Piramal Pharma, a subsidiary of Piramal Enterprises Ltd, has completed the acquisition of Mumbai-based Hemmo Pharmaceuticals. In March, the company had entered into an agreement to acquire a 100% stake in Hemmo for an upfront consideration of Rs 775 crore and earn-outs linked to the achievement of milestones. With this acquisition, Piramal Pharma will gain access to the growing peptide Active Pharmaceutical Ingredient (API) market.

Read more here.

GRSE commissions new 250 tonne Goliath Crane

Garden Reach Shipbuilders and Engineers (GRSE) Ltd has commissioned a new 250 tonne Goliath Crane at the company’s main works unit in Kolkata. The approximate cost of setting up the crane was Rs 155 crore. GRSE said the new Goliath Crane is a vital asset for the construction and repair of a wide range of modern and strategic warships. It has enhanced the capacity of the modernised infrastructure facility of the shipyard.

Read more here.

Glenmark Pharma gets USFDA approval for inhalation product

Glenmark Pharmaceuticals Ltd has received approval from the US Food & Drug Administration (USFDA) for Arformoterol Tartrate Inhalation Solution. The drug is used to treat conditions such as chronic bronchitis and emphysema. It will be manufactured at the pharma company’s facility in Monroe, North Carolina. According to IQVIA data, the generic version of the drug had annual sales of approximately $437.9 million (~Rs 3,250 crore) for the 12 months ended April 2021.

Cipla Limited has also received approval for the inhalation solution from the USFDA.

Read more here.

Infosys’ Rs 9,200 crore share buyback to open on Friday

The Rs 9,200 crore share buyback plan of Infosys Limited is scheduled to commence from June 25, 2021 (Friday). The IT company has proposed to buy back shares at a maximum price of Rs 1,750 per share. The Board of Directors of Infosys had approved the buyback plan on April 14, and the shareholders’ approval was received on June 19. The last date for the share buyback has been fixed as December 24, 2021.

Read more here.

HCC Q4 Results: Net profit falls 49% YoY to Rs 157 crore

Hindustan Construction Company (HCC) Ltd reported a 49.48% YoY decline in net profit to Rs 157.28 crore for the quarter ended March (Q4). Net profit has increased by 32.64% when compared to the previous quarter. Its total income rose 0.9% YoY to Rs 2,398.38 crore during the same period. Net loss for the financial year ended March 31, 2021 (FY21) stood at Rs 610.02 crore, compared to a net profit of Rs 197.03 crore in FY20. HCC stated that operations of its group companies have started recovering from the economic slowdown caused by the Covid-19 pandemic.

Read more here.

ABB India installs digital solutions at JSW Steel’s plant in Maharashtra

ABB India Limited has completed the digitalisation of a melt shop at JSW Steel’s Dolvi works steel plant in Maharashtra. The digital solution connects steel melt shop operations with ladle and crane tracking and thermal loss prediction for higher casting speeds and additional output of 24,000 tonnes per annum (TPA). The ABB Ability Smart Melt Shop solution will help JSW Steel boost productivity and profitability.

Read more here.

Tata Motors in talks to raise capital for EV business: Report

According to a report from Economic Times, Tata Motors is in strategic talks with investors (including private equity funds) to raise capital for its electric vehicle (EV) business. In March 2021, the company had received shareholders’ approval to hive off its passenger vehicles business (including the EV segment) into a separate subsidiary through a scheme of arrangement. The report further states that talks with investors are at an early stage, and may not result in a deal.

Read more here.

Speciality Restaurants Q4 Results: Net profit jumps 122% YoY to Rs 8.4 crore

Speciality Restaurants Ltd (SPL) reported a 122.72% YoY jump in consolidated net profit to Rs 8.43 crore for the quarter ended March (Q4). Net profit has increased by 328.5% when compared to the previous quarter. Its total income declined by 4.5% YoY to Rs 75.17 crore during the same period. For the entire financial year 2020-21 (FY21), the company reported a net loss of Rs 29.45 crore. This is compared to a net loss of Rs 38 crore in FY20. SPL owns and operates multiple chains of fine and casual dining restaurants in India, Bangladesh, and Tanzania.

Categories
Market News Top 10 News

Covid-19 Expert Panel Recommends SII’s Covishield for Emergency Use – Top Indian Market News

Covid-19 expert panel recommends SII’s Covishield for emergency use

The Subject Expert Committee (SEC) on Covid-19 of the Central Drugs Standard Control Organisation (CDSCO) has recommended granting emergency use authorisation (EUA) for ‘Covishield’, a Covid-19 vaccine developed by Oxford University and AstraZeneca. The Pune-based Serum Institute of India (SII) has tied up with AstraZeneca to manufacture Covishield in India. The Drugs Controller General of India (DCGI) will now take the final decision on emergency approval of the vaccine based on the expert panel’s recommendations.

After SII’s application, the SEC has started reviewing the EUA application by Bharat Biotech for its Covid-19 vaccine, Covaxin, and is yet to take a final decision on the matter.

Read more here.

Tata Sons overtakes GoI as largest promoter of listed companies

As per a report from Business Standard, Tata Sons has overtaken the Government of India (GoI) as the largest promoter of listed companies. This is the first time in nearly two decades that the government has not held the position. This has been due to the decline in the market capitalisation of state-run companies. The report states that Tata Sons’ stake in the conglomerate’s listed companies is now worth Rs 9.28 lakh crore, up 34.4% on a year-on-year (YoY) basis.

Read more here

Automobile companies register improved sales growth in December

Major automobile companies registered healthy sales growth during December 2020. Maruti Suzuki posted a 20.2% YoY increase in total sales at 1.60 lakh units in December, which was led by compact vehicles, LCVs, and vans. Mahindra & Mahindra announced that its overall passenger vehicle sales were up 3% YoY at 16,182 units, with a 3% growth in exports at 2,210 units. Escorts Ltd’s domestic tractor sales grew 90% YoY at 7,230 units, while exports were up 63.3% at 503 units.

Read more here.

WHO approves Pfizer-BioNTech vaccine for emergency use

The World Health Organization (WHO) announced that it has cleared the Pfizer-BioNTech coronavirus vaccine for emergency use. This means that poorer countries may soon get access to the shot, which is already available in Europe and North America. Every country that has a drug regulatory agency will have to issue its own approval for any COVID-19 vaccine. However, countries with weak systems usually rely on the WHO to vet the shots.

Read more here.

TCS completes acquisition of Postbank Systems from Deutsche Bank AG

Tata Consultancy Services (TCS), on Friday, said it has completed the acquisition of 100% shares of Postbank Systems AG (PBS) from Deutsche Bank AG. PBS has been the internal IT provider for Postbank AG, a subsidiary of Deutsche Bank. It caters to the German retail banking market. In November 2020, TCS had announced its plans to acquire Postbank Systems through its subsidiary, Tata Consultancy Services Netherlands B.V.

Read more here.

Praj Industries bags Rs 226 crore order from Indian Oil Corporation

Praj Industries Ltd, on Friday, said it has bagged a Rs 226.90 crore order from Indian Oil Corporation Ltd (IOCL). The company stated that the order is for the execution of a zero liquid discharge system – water treatment package and wastewater treatment package of Acrylic/Oxo-Alcohol Project, at IOCL Dumad in Gujarat. Praj Industries is a Pune-based industrial biotechnology company.

Read more here.

Coal India output rises 6% to 157 million tonnes in Q3

Coal India Ltd’s output grew 6.3% YoY at 156.8 million tonnes (MT) during the October-December quarter (Q3). The company had reported an output of 147.5 MT during the same period in the previous financial year (FY20). The state-owned mining company also posted over 9% YoY growth in offtake at 154.6 MT during Q3 FY21. [Coal offtake is the amount of coal supplied from the coal mine]

Read more here.

Gayatri Projects declared lowest bidder for road project worth Rs 1,323 crore

Gayatri Projects Ltd said it has been declared as the lowest bidder for a road project worth Rs 1,323.52 crore. The company has been declared as an L-1 bidder for the development of a six-lane access-controlled highway in the Uttar Pradesh portion of the Delhi-Saharanpur Highway. Gayatri Projects is a Hyderabad-based construction engineering company.

Read more here.

Dabur launches ‘Dabur Red Pulling Oil’, an Ayurvedic mouthwash

Dabur India Ltd has announced its entry into the mouthwash category with the launch of Dabur Red Pulling Oil, an Ayurvedic mouthwash. The launch of this Ayurvedic detox for teeth and gums marks another first for Dabur and the Ayurvedic products industry in India. Priced at Rs 275 for a 195ml pack, Dabur Red Pulling Oil is initially available across all leading e-commerce platforms and will soon be rolled out through regular retail channels.

Adani Green secures 600 MW wind-solar hybrid power project

Adani Green Energy announced that its subsidiary, Adani Renewable Energy Holding Eight Ltd, has received the contract to build a 600 megawatts (MW) wind-solar hybrid power project. This will take the company’s total project portfolio to 14,795 MW. The fixed tariff for this project is Rs 2.41 per unit for a period of 25 years. The project is scheduled to be commissioned in 18 months from the effective date of the power purchase agreement.

Read more here.


Categories
Editorial

The Honey Scam – All You Need to Know

The Covid-19 pandemic has created a necessity to improve our immunity. Many people started taking vitamin tablets, while others turned to a more natural alternative. This is when we saw an increase in the consumption of honey all over the world. It is one of the best remedies for a sore throat, due to its antibacterial properties. Indian brands used this as an opportunity to ramp up their honey production. They even came up with interesting marketing campaigns to improve sales. 

However, a shocking report from CSE was released last week, which claims that major Indian brands are involved in adulteration of honey! How pure is the honey that we have been consuming all this while? Have the companies been selling a cheap alternative? Let us understand the details surrounding these latest revelations.

The CSE Investigation

The Centre for Science and Environment (CSE) is a not-for-profit public interest research and advocacy organization based in New Delhi, India. They had earlier exposed a large number of illegal practices such as pesticides in colas and packaged water, antibiotics in honey, and excess salts and trans fats in junk foods. 

Earlier this year, CSE received many tip-offs from Indian beekeepers. They informed the organization about the presence of widespread contamination of honey by domestic manufacturers. The beekeepers pointed out that major brands were sourcing sugar syrup from China. The brands opted to buy sugar syrup, as it is available for half the price of raw honey. This had led to many beekeepers going out of business. The CSE took up the mission to find out the truth behind these claims.

Key Findings

Now, let us specifically look at the details regarding CSE’s recent study on the adulteration of honey:

  • Between August-November 2020, the CSE collected 22 samples of honey from 13 Indian brands. Eight of these brands sell processed honey, while the others sell raw honey.
  • They initially sent the samples for testing at the Centre for Analysis and Learning in Livestock and Food (CALF), in Gujarat. The testing was conducted as per the parameters set by the Food Safety and Standards Authority of India (FSSAI). All the major brands passed this particular test, whereas smaller brands failed to meet the Indian standards. 
  • However, CSE was not convinced with the results from the initial test conducted by CALF. They believed that these samples had to go through a world-class purity test. Thus, they sent all the samples to a renowned food testing laboratory in Germany. This lab has a more advanced testing technology that helps detect adulteration and also the origin of honey. These specific tests are called Nuclear Magnetic Resonance Spectroscopy (NMR Test) and Trace Marker for Rice Syrup (TMR Test).
  • The German lab sent a very detailed analysis of their findings on December 2. This was exactly when things became very serious. It was found that 10 out of the 13 honey brands had failed the purity test. Out of a total of 22 samples, only 5 passed all the tests.
  • More importantly, the investigation revealed that Indian companies were importing synthetic sugar syrups from China for adulteration of honey. 
  • CSE stated that honey is also mixed with syrup acquired from rice, corn, beetroot, and sugarcane and is sold as ‘pure honey’ by these brands. This syrup is factory-made and produced in bulk (mainly from China) and was cheap. The Indian brands used large quantities of these cheap syrups in their honey. This is clearly a health hazard.
  • At least 77% of Indian honey brands including Dabur, Patanjali, Zandu, Baidyanath, Hitkari have failed the NMR test. Saffola Honey (a product of Marico Ltd), Markfed Sohna, and Nature’s Nectre were the only brands that passed all the tests.

Recent Developments

After CSE released these shocking revelations, the companies such as Dabur Ltd., Patanjali Ayurved, and Emami Group (Zandu Honey) have denied all claims. They stated that their respective honey brands adhere to all protocols and quality standards as per the Indian Government and the FSSAI. The companies have also stated that CSE’s claims seem to be motivated and aimed at defaming them. They have also insisted that honey sold by them are collected from Indian sources and packed with no added sugar or other adulterants.

Over the last few days, some of you may have seen the advertisements of Dabur Honey popping out on all types of media. It states that their honey passes all key tests of the Indian food regulators and is 100% pure with no added sugar. At the same time, Marico Ltd has also posted newspaper ads that mention that their brand- Saffola Honey- has passed the international standards test. Interestingly, both Dabur and Marico have decided to move the Advertising Standards Council of India (ASCI), accusing each other of making false purity claims of their ads!

On December 4, CSE forwarded all details regarding their investigation to the FSSAI. This contains step-by-step developments that brought the fraud to light. This would help the agency to understand the loopholes in its purity and quality testing standards. 

Conclusion

We had increased the consumption of honey to boost our immunity. Unfortunately, we were actually ingesting sugar instead of natural honey. Widely consumed honey brands in India have been misleading or deceiving us with their promise of purity. Such an important food item, that has immense health benefits, is completely filled with sugar syrup. The CSE has provided us with concrete evidence that brands have used demand opportunities arising from the Covid-19 pandemic as an excuse to sell adulterated items. The business of adulteration has constantly evolved over the years to beat laboratory tests as well. Consuming such items could cause severe health issues in individuals.

Also, do bear in mind that India imports these adulterants in bulk orders from China. The Chinese companies had openly claimed that its syrups will not be detected in adulteration checks. As India has now stopped all imports of Chinese items, the major domestic companies have even moved on to local entities for their supply of sugar syrup. The Indian beekeepers have been losing their business, as brands are using fewer quantities of raw honey in their products.

Let us hope that the government, and its agencies such as the FSSAI, introduce new and better standards for the testing of honey. The agencies need to step up surveillance, sampling, and inspection to check the misuse of such activities. It needs to be completely stopped at all costs. The health of all Indians needs to be given utmost importance, especially at a time when we are facing a global pandemic.

Categories
Market News Top 10 News

Burger King India IPO Gets Oversubscribed on Day 1 – Top Indian Market News

Burger King India IPO subscribed more than 3 times on Day 1

The initial public offering (IPO) of Burger King India was subscribed more than three times on the opening day of the issue. The Rs 810-crore issue has received bids for 23.32 crore equity shares, which was 3.13 times the total issue size. The IPO consists of a fresh issue of Rs 450 crore and an offer for sale (OFS) of up to 6 crore shares, aggregating Rs 360 crore. The price band of the issue has been fixed at Rs 59-60 per share.

Read more here.

BPCL receives three preliminary bids, says Oil Minister Dharmendra Pradhan

India’s Oil Minister Dharmendra Pradhan announced that state-owned Bharat Petroleum Corporation Ltd (BPCL) has received three preliminary bids, as part of its stake sale. Earlier, Vedanta had confirmed putting in an expression of interest (EoI) for buying the government’s 52.98% stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.

Read more here.

Infosys, Rolls-Royce enters into strategic partnership for aerospace engineering in India

IT major Infosys Ltd and Rolls-Royce have entered into a strategic partnership for sourcing engineering and R&D services for Rolls-Royce’s civil aerospace business. As part of the partnership, Rolls-Royce will transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to Infosys. The engineering centre will strengthen Infosys’ existing capabilities in Turbomachinery and Propulsion. 

Read more here.

NCC secures four orders worth Rs 3,905 crore

NCC Limited announced that it has received four external orders totaling Rs 3,905 crore. One order of Rs 848 crore is for NCC’s water division and the remaining four orders pertain to its building division. It has received these orders from central and state government agencies. These orders will be executed over the next 24 to 42 months.

Read more here.

Wipro wins multi-year contract from Verifone

Wipro Ltd announced that it has won a multi-year contract from Verifone, a global leader in payments and commerce solutions. The IT major will develop new features, capabilities, and interfaces for Verifone’s Cloud Services offerings. By leveraging its global engineering support team, Wipro will assist Verifone to transform its customer partnerships.

Read more here.

L&T to sell UK marine automation platform to Rolls-Royce

Larsen & Toubro (L&T) has signed a pact with Rolls-Royce for the divestment of its UK-based integrated marine automation solutions provider, Servowatch Systems. L&T stated that this move is aimed at unlocking value within the existing business portfolio by divesting non-core units. Servowatch Systems has grown into an internationally recognized provider of marine automation platforms over the past eight years of L&T’s ownership.

Read more here.

SpiceJet to provide logistical support for Covid-19 vaccine delivery

SpiceJet announced that it will provide logistical support for the delivery of Covid-19 vaccines. The airline’s cargo arm, SpiceXpress, will be transporting the vaccine through a specialised service called Spice Pharma Pro. The company stated that it has the ability to transport extremely sensitive drugs and vaccines in controlled temperatures ranging from -40°C to +25°C. 

Read more here.

IndiGo achieves 70% of its pre-Covid capacity, operating 1,000 flights daily

Interglobe Aviation Ltd (IndiGo) stated that it has reached 70% of its pre-Covid capacity and is operating 1,000 daily flights to and from 65 destinations. This includes 59 domestic and 6 international destinations. The company expects the growth to continue into 2021. IndiGo, which is India’s largest airline, operated around 1,500 daily flights before the pandemic hit.

Read more here.

Dabur and other top brands sell adulterated honey: CSE

An investigation by the Centre for Science and Environment (CSE) claims that several brands of honey, including those sold by Dabur India Ltd, Patanjali, and Zandu, are adulterated. CSE had sent samples from 13 brands to a German lab for testing the purity of their honey. The tests reveal that most brands sell honey that is laced with sugar syrup.

Read more here.

Phoenix Mills and GIC to set up mixed-use retail platform

Phoenix Mills Ltd (PML) and its subsidiaries have entered into a non-binding term sheet with GIC Private Equity, for the formation and development of a retail-led mixed-used platform. PML will contribute retail assets such as Phoenix Marketcity Mumbai and Phoenix Marketcity Pune as a part of the platform. GIC is Singapore’s sovereign wealth fund. It will invest in 3 PML subsidiaries- Offbeat Developers Pvt Ltd, Graceworks Realty & Leisure Pvt Ltd, and Vamona Developers Pvt Ltd. GIC will use a combination of primary infusion and secondary purchase of equity shares.

Read more here.

Categories
Market News Top 10 News

Adani Ports’ Net Profit Rises 32% YoY – Top Indian Market News

Adani Ports Q2 Results: Net Profit rises 32% YoY to Rs 1,394 crore

Adani Ports & Special Economic Zone Ltd. reported a 31.57% year-on-year increase in consolidated net profit at Rs 1,393.69 crore, for the quarter ended September (Q2). The revenue from operations increased by 3% YoY to Rs 2,902.52 crore, during the same period. The company has stated that its market share in India’s overall cargo has increased to 24%, as compared to 21% in Q1 of the current financial year.

Read more here.

Vedanta, Hindalco win in commercial coal mine auctions

Vedanta Ltd. and Hindalco Industries Ltd. are among the first private companies chosen to operate coal mines in India. The Government had allocated 38 coal mines in the country for auction to the private sector. Vedanta Ltd has placed the winning bid for the Radikapur West Coal Block in Odisha. Hindalco has won the right to operate the Chakla Coal Block in Jharkhand.

Read more here.

PVR Q2 Results: Net Loss stands at Rs 184 crore

PVR Limited reported a consolidated net loss of Rs 184 crore, for the quarter ended September (Q2). The consolidated revenue of the multiplex operator was at Rs 40.4 crore, during the same period. PVR has stated that most of its theatres have reopened, under the Unlock 5.0 guidelines. They are optimistic for a gradual improvement in revenues over the next few months.

Read more here.

Ajanta Pharma Q2 Results: Net Profit up by 45% YoY

Ajanta Pharma Limited reported a 45% year-on-year (YoY) increase in net profit at Rs 170 crore, for the quarter ended September (Q2). The company’s revenue has increased by 11% YoY to Rs 715 crore, during the same period. The Board of Directors of Ajanta Pharma has approved an interim dividend of Rs 9.50 per share. They have also announced a share buyback of 7.35 lakh equity shares, at a price of Rs 1,850 per share.

Sun Pharma Q2 Results: Net Profit jumps 70% YoY to Rs 1,813 crore

Sun Pharmaceutical Industries Ltd. reported a 70.4% year-on-year (YoY) increase in consolidated net profit to Rs 1,813 crore, for the quarter ended September. The drug firm’s consolidated revenue from operations has increased by 5.3% YoY to Rs 8,553 crore, during the same period. The share price of Sun Pharma saw a rise of 3.85%, and closed at Rs 487.45 on the NSE today.

Read more here.

Muthoot Finance Q2 Results: Net profit rises 2.5% to Rs 931 crore

Muthoot Finance Ltd. reported a 2.5% year-on-year (YoY) increase in consolidated net profit at Rs 930.81 crore, for the quarter ended September (Q2). The company has posted a 17.4% YoY increase in total income to Rs 2,824.19 crore, during the same period. The non-banking financial company has also recorded its highest-ever quarter-on-quarter (QoQ) growth in its gold loan portfolio.

Read more here.

TCS partners with B3i to launch solutions for insurance industry

Tata Consultancy Services (TCS) has partnered with B3i Services AG to design, develop, and launch ecosystem innovations for the insurance industry. The partnership will be aimed at providing solutions to improve the digital systems of insurers, brokers, and industry service providers. B3i is an industry-led blockchain initiative that is owned by 20 insurance companies around the world.

Read more here.

Dabur Q2 Results: Net Profit rises 20% YoY to Rs 483 crore

Dabur India Ltd. reported a 20.6% year-on-year (YoY) increase in consolidated net profit to Rs 482.86 crore, for the quarter ended September (Q2). The company’s consolidated revenue has increased by 14% YoY to Rs 2,516.04 crore, during the same period. The e-commerce business of Dabur grew by 200% YoY in Q2.

Read more here.

PNB to raise Rs 7,000 crore through QIP in December

Punjab National Bank (PNB), on Tuesday, said it is planning to raise Rs 7,000 crore through qualified institutional placement (QIP) of shares by December 2020. QIP is a method that allows listed companies to raise capital from domestic markets through the issue of equity shares or any other securities. This is part of PNB’s overall plan to raise capital worth Rs 14,000 crore during the current financial year.

Read more here.

Godrej Properties Q2 Results: Net Profit declines 77% YoY to Rs 7 crore

Godrej Properties Ltd. reported a 77% year-on-year (YoY) decline in consolidated net profit at Rs 7 crore, for the quarter ended September (Q2). The real-estate company posted a 36% YoY decline in total income at Rs 238 crore, during the same period. The company has stated that construction activity has resumed across its sites, with a high increase in the workforce.

Read more here.

Meghmani Finechem expands Caustic Soda Plant 

Meghmani Finechem is expanding production at its existing Caustic Soda Plant from 2.94 lakh tonnes per annum (TPA) to 4 lakh TPA. The company is also upgrading the Captive Power Plant capacity to 123 MW (megawatts) at its production site in Gujarat. The total cost of these projects is estimated at Rs 230 crore. Meghmani Finechem is a material subsidiary of Meghmani Organics Ltd.

Read more here.