Larsen & Toubro, India’s largest construction company, has won an order to design and build tracks for Riyadh Metro project in Saudi Arabia. The value of the contract is estimated at $161.37 Mn or 1070 crores. The project involves the construction of 62.86 KMs of double ballastless tracks in tunnels, viaducts, at-grade sections and three […]
A report by magicbricks.com has revealed that real estate prices are seeing a downtrend in North India, while continuing to rise in the West and the South. Real estate prices increased in markets such as Bangalore and Hyderabad. “The southern region comprising of Bengaluru (6%), Hyderabad (4%) and Chennai (1%) was the best performer followed […]
Puravankara, one of South India’s biggest real estate companies, has set its sights on Hyderabad, one of the few cities in India where real estate prices are still largely affordable. Bangalore, Puravanakara’s home market, as well as Delhi and Mumbai, have seen prices increase so much over the last few years that demand has been […]
The Water & Effluent Treatment Strategic Business Group of L&T Construction has won turnkey orders worth Rs 1,489 crores in August 2015, in three packages, the construction company said. The orders were won from Public Health Engineering Department, Ajmer, under the Rajasthan Rural Water Supply and Fluorosis Mitigation Project. The projects, funded by Japan International […]
Troubles within China are expected to spell disaster for the Indian steel industry as desperate Chinese manufacturers would dump their products more rigorously abroad, having already registered a growth of 232 per cent in their shipments to Indian ports, an ASSOCHAM study has cautioned. Indian steel makers have already been hit by declining prices due […]
The MMRDA has sanctioned Rs 35,400 crore for a 118-km expansion of Metro network in Mumbai. The new areas for which money has been sanctioned include Dahisar-Charkop-Bandra-Mankhurd Metro-2 corridor (Rs 12,000 crore and 40 km), Wadala-Ghatkopar-Thane-Kasarvadavali Metro-4 via Wadala GPO and R.A.Kidwai Marg (Rs 12,000 crore and 40 km), Dahisar-E-Andheri-E-Bandra-E Metro-5 corridor (Rs 8,100 crore […]
Tata Motors today announced the launch of a new smart pick-up – Tata ACE Mega. “The ACE Mega, with superior performance, enhanced looks, strong cabin with rated payload of 1Tonne, will offer the best-in-class fuel efficiency and lowest cost of ownership. It is an innovative cargo transport solution in the Small Commercial Vehicle (SCV) segment,” […]
Adani Enterprises said its deal with US-based solar manufacturer SunEdison is still continuing, and no decision has been taken to annul it. The clarification came after widespread media reports that Adani Enterprises has canceled their agreement and the Indian company was on the lookout for a new partner for its solar venture. The deal with […]
Bosch, a leading supplier of technology and services, inaugurated its 14th manufacturing facility in India at Bidadi, near Bengaluru. The Rs 340 cr plant will manufacture products for the Diesel Systems division. “India is a key pillar of our growth strategy in Asia Pacific. A strong local presence is the basis for further growth in […]
The current volatility in the stock market is a good opportunity to put money into shares, said Aashish Somaiyaa, CEO of Motilal Oswal Asset Management Company. He said India continued to be in a ‘long term bull’ market and the fundamentals of the economy continue to be robust. “Any extraneous development which gives an opportunity […]
OPPO, a China-based smartphone brand, has changed its India CEO, and said it has sold around 400,000 phones in India since its entry last year. It also said it is targeting to sell 1.5 million units in 2015. The company has been among the most aggressive in terms of expenditure on promotions, hoardings and so […]
Multi Commodity Exchange of India Ltd, India’s leading commodity exchange, said it will set up an electronic trading, clearing and settlement platform at GIFT City, Gandhinagar. The move is the biggest expansion by the commodity exchange company after it was taken out of the control of Financial Technologies, which was caught up in a scam […]
The number of searches for educational courses outside India has more than doubled this year compared to the last, according to a study undertaken on the trends in overseas education by Sulekha.com, a local services and classifieds website. “When compared to the previous year, the study witnessed 114% upsurge in online search for overseas education,” […]
India’s leading stock exchange National Stock Exchange of India Ltd installed a 6.25 MW wind power project at Satara in Maharashtra. “65% of the energy consumption of NSE office located at Exchange Plaza building, Bandra-Kurla Complex (BKC) Mumbai will be met by this wind project,” a statement said. The project was implemented by Suzlon Group, […]
The Power Transmission & Distribution Business of L&T Construction has won orders worth Rs. 1,563 crores in both the international and domestic markets in July & August 2015, the construction company said. “As a strategic breakthrough in the ASEAN market, a key order has been received from Tenaga Nasional Berhad (TNB) for the design, manufacture, […]
ITC Ltd, the biggest Indian-owned FMCG brand, said it had not got any information or notice from the government of Uttar Pradesh about excess lead in its YiPPee brand of noodles and pasta. The company was responding to media reports that said that the UP Government’s Food and Drug Administration had detected excess lead in […]
With the market showing extreme volatility, the Indian Oil Corporation’s offer for sale of 24.3 cr shares did not get adequate response from retail investors. Though 20% of the offer was exclusively reserved for retail investors, the company managed to get subscriptions for only about one-fifth of this quota. A 5% discount was also offered […]
Qyk, the fastest growing hyper-local professional services startup in India announced a $1 mn pre-series A investment led by growx ventures, an early stage investment firm. Existing seed investors – Tracxn Labs, Powai Lake Ventures, and Sahil Barua — co-founder, Delhivery — also participated in this round. Qyk’s app offers professionals such as event planners, […]
The government of India will invest Rs 857 cr into Corporation Bank as part of its bank recapitalization efforts, the public sector bank said. Public sector banks, including the State Bank of India, are facing mounting NPAs or defaults as big debtors, such as corporations, refuse to, or are unable to make payments. The taxpayer […]
Indian stock markets saw the biggest absolute decline (in terms of index points) today, with the benchmark BSE Sensex declining 1624 points and the Nifty down 491 points, or about 6%. The sell-off was triggered by global capital shift away from equities, which have been going up more or less uninterrupted for nearly five years. […]
