SpiceJet, one of India’s top budget airlines, said it has not received any request from the Airports Authority of India seeking extra charges from it. “A section of media is reporting that Airport Authority of India has asked SpiceJet to pay an additional daily amount. However we would like to clarify that SpiceJet has been […]
Mahanagar Gas Ltd, India’s biggest vendor of CNG fuel, has cut the price of the commodity after cuts by upstream providers such as ONGC and Reliance. “Consequent to the reduction in the price of domestically produced natural gas by the Government of India, Mahanagar Gas Limited (MGL) is pleased to reduce its CNG price by […]
Following a steep 0.5 percentage point cut in policy rates by the Reserve Bank of India, Axis Bank — one of India’s largest lenders — has cut its base interest rate to 9.50% from 9.85%. This will mean lower EMIs for hundreds of thousands of its floating loan customers. The cut is with effect from […]
National carrier Air India will relocate its domestic operations in Mumbai from Terminal 1A to Terminal 2 from October 1, 2015. Passengers who want to catch domestic flights will now have to go to T2, Chhatrapati Shivaji International Airport, Sahar. “With this move, Air India passengers will have the advantage of a smooth and seamless […]
Avantha Group Company CG has won a Euro 17 million (Rs 125 crore) contract to supply ZIV single and three phase smart meters to Gas Natural Fenosa and will be the main supplier for the utility. ZIV smart meters will cover a large part of the demand for domestic meters from GNF, having won the […]
The National Consumer Disputes Redressal Forum, the apex consumer court in India, has dismissed a petition by Gurgaon-resident Gaurav Garg seeking a compensation of Rs 1.25 cr from PepsiCo India and its bottling partner after allegedly falling ill as a result of consuming a bottle of ‘Slice’ bottled mango drink. The NCDRC said the amount […]
L&T Infrastructure Finance Company Ltd – belonging to the engineering conglomerate Larsen & Toubro Ltd (L&T) – reduced its prime lending rate by 0.25% to 15.50% per year effective 15th Sept, the company said. “This revised PLR shall be applicable in respect of both existing loans and new disbursals, in accordance with the relevant clauses […]
Equity markets across the globe, including and particularly emerging markets, will see a relief rally if the US Federal Reserve puts off a rate hike today, said Rohit Gadia, Founder & CEO, CapitalVia Global Research. US Fed will conclude its policy meet today and give clarity on the much debated rate hike. Indian markets are […]
West India focused Poddar Developers said it will pay stamp duty and registration charges on behalf of their customers in this festive season in a move that will translate to a saving of 5-6% for the buyers. The offer is available on three affordable housing projects – Poddar Evergreen in Badlapur, Poddar Aspire in Kalyan […]
Mahindra has unveiled the TUV300 — the company’s ‘tough’ alternative to compact SUVs like S-Cross, Fiat Avventura and Hyundai Creta. The model has been priced at Rs 6.9 lakh prior to taxes etc in Pune. The BS-V version will start at 7.25 lakhs. The high-end version costs Rs 8.4 lakhs in Pune, which is 1.4 […]
Mahindra is all set to unveil the TUV300 — the company’s competitor to the newly unveiled SUVs from Maruti Suzuki — S-Cross, Fiat Avventura and Hyundai Creta. Click below to watch the launch of TUV300 live at 11 AM today. The vehicle has been called the most refined car produced by Mahindra & Mahindra yet, […]
India Yamaha Motor Pvt. Ltd. (IYM), the leading two wheeler manufacturer, today inaugurated its third manufacturing facility at the industrial park in Vallam Vadagal situated at the outskirts of Chennai, Tamil Nadu. The new factory will be the first in the Yamaha Motor group to have a vendor park in its vicinity. Spread across 177 […]
Mahindra & Mahindra Limited said it was signing a Memorandum of Understanding with the government of Tamil Nadu to invest Rs 2,000 crore in the state. The investment will cover a new automotive plant as well as a new Test track for Mahindra Research Valley. “The Company could also increase the investment to Rs.4,000 crores […]
Crompton Greaves Ltd, part of Avantha Group, has won a 3-year contract from the French distribution network operator Électricité Réseau Distribution France (ERDF) to provide maintenance and repair services to 4,500 high power transformers. These transformers of ERDF, which manages 95% of the electricity distribution network in France, are credited with supplying energy to 35 […]
Fitch Ratings said in a new report that pessimism over China’s short-term outlook is overdone and a growth pick-up in the second half is already in the pipeline. ‘But expectations for the economy’s growth potential in the medium term are shifting lower as the scale of the restructuring challenge becomes clearer,” it said. Global capital […]
Idea Cellular CEO Himanshu Kapania will be one of the highest paid executives in India after his reappointment for five years starting April next year. According to the plans disclosed by the company, Kapania will be offered the following terms. A basic pay of Rs 12.9 lakhs plus a special allowance of 14.8 lakhs, coming […]
Central Depository Services (India) Limited, one of India’s two depositories, said the total number of active demat accounts opened with it as at the end of August, 2015 has crossed 1 crore, implying that the total in India would be over 2 crore (20 mln). On this occasion, Shri. N. Rangachary – Chairman, CDSL said […]
ŠKODA AUTO India has introduced the all new Rapid Anniversary Edition with exciting features at a starting price of Rs 6.99 lakhs across the country. “Riding on ŠKODA’s acclaimed Simply Clever philosophy, this range comes with a host of fresh features designed to enhance the overall ownership experience for customers,” the car brand said. Unique […]
TVS Motor Company recorded total sales of 227,653 units in the month of August 2015 against 225,064 units in the month of August 2014; posting a growth of 1% over the same month of the previous year. The company s total exports grew by 21% with sales increasing from 35,074 units in the month of […]
Maruti Suzuki India Limited sold a total of 117,864 vehicles in August 2015, a growth of 6.4%. This includes 106,781 units in the domestic market and 11,083 units in exports. The Company had sold a total of 110,776 units in August 2014. However, sales of compact cars — its bread and butter — fell 11.3% […]
