Renault launches refreshed version of Kwid

French car major Renault on Wednesday launched a refreshed version of its small car Kwid, priced between Rs 2.66 lakh and Rs 4.59 lakh.

The Kwid 2018 will be available in both manual and automated transmission options, a release said.

The firm claims of selling 2.50 lakh units of its entry-level hatchback since its launch in the country in 2015.

HEG posts Rs 770 crore net profit in June qtr

Graphite electrode manufacturer HEG today said it has registered a net profit of Rs 770 crore for the June quarter, compared with a net loss of Rs 8.43 crore in year-ago period.

The company’s revenue also jumped by 644 per cent to Rs 1,595 crore, against Rs 214 crore last year, a release said.

HEG chairman and managing director Ravi Jhunjhunwala said the company is contemplating an increase in the operational capacity to capitalise on the structural changes in the industry.

“We also looking at the possibility of debottlenecking our plant, for which necessary steps are being taken currently,” he added.

Credit Access Grameen fixes price band at Rs 418-422 for IPO

Credit access Grameen today said it has fixed price band between Rs 418 and Rs 422 per equity share for its proposed initial public offering.

The company proposes to make a fresh issue of equity shares aggregating up to Rs 630 crore and an offer for sale of up to 11,876,485 equity shares by the promoter, CreditAccess Asia NV, it said in a release.

The IPO will open on August 8 and close on August 10.

The equity shares are proposed to be listed on BSE and NSE.

Pidilite Industries Q1 net up 6.30% at Rs 240.78 cr

Adhesives and industrial chemicals manufacturer Pidilite Industries today reported a 6.30 per cent rise in consolidated net profit at Rs 240.78 crore for the first quarter ended June.

The company had reported a net profit of Rs 226.51 crore during the same quarter last year, a release said.

Total income during the quarter under review stood at Rs 1,866.20 crore. It was Rs 1,712.49 crore in the year-ago period, it added.

State Bank of Mauritius to double its network by next year

State Bank of Mauritius, which has got the RBI approval to operate as a wholly-owned subsidiary, said it will double its network in the country by next year.

SBM is the second foreign bank to obtain a wholly-owned subsidiary license from the Reserve Bank after the Singaporean lender DBS.

The bank said it will expand its network with six new branches in Delhi, Bangalore, Kolkata, Pune, Ahmedabad and Jaipur by next year.

It will soon operate as a banking subsidiary of SBM Group here under the name of SBM Bank India. Having entered the country in 1994, it has four branches.