In the midst of debate on the impact of slowdown in the Chinese economy on rest of the world, India’s engineering exports have started witnessing a negative fallout with a drop of 36 per cent in export of non-ferrous metals to China in June, 2015, an analysis by the EEPC India has shown. Exports of […]
SpiceJet is offering 1 lakh seats at fares as less as Rs 799 plus taxes on certain short haul routes, such as Delhi-Chandigarh, Mumbai-Goa, Bengaluru-Kochi, Madurai-Chennai, Jammu-Srinagar and Kolkata-Agartala. On other routes, fares will go up to Rs 2,699 excluding taxes. In practice, a Rs 799 fare will imply a final figure of around Rs […]
The Cochin International Airport has become the world’s first airport to generate all the power it needs from solar technology. Bosch Limited was the implementation partner that helped the airport set up a 12 megawatt solar station in the premises. The unit will produce 50,000 units (kWh) of power per day. Constructed on a land […]
Royal Enfield, maker of the iconic Bullet bikes in India, said it has set up its first operating direct distribution subsidiary outside India, in North America. Setting up a direct distribution company in Milwaukee, Wisconsin is expected to boost sales of Enfield models in the US and Canada. It will also launch a fully-branded retail […]
IDBI Federal Life Insurance, a joint-venture of IDBI Bank, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe, has reported a growth of 84% in Total Premium at the end of the Q1 FY16. “The growth of the company […]
Putting an end to much speculation, Zee Media Corporation — the news arm of the Zee Group — today announced its intention to enter into English News Broadcasting with the appointment of Rohit Gandhi as Editor-in-Chief – English News Broadcast and Related Content. Zee had been expected to make this announcement for almost a year. […]
SpiceJet, the country’s favourite low-cost carrier, has launched new flights in its winter schedule effective from 25th October, 2015. This has come just days after it expanded its network by adding three new flights and 137 new connections. SpiceJet has introduced daily direct flights between Goa and Ahmedabad. The airline has also increased flights between […]
Honda Motorcycle and Scooter India said it was recalling all CBR 150R and CBR 250R brand of premium motorcycles manufactured between July 2014 to June 2015 and sold in India. The recall is to examine and if necessary, replace, the bikes’ starter relay switch. This is being done as part of a global effort, and […]
Essel Group Middle East (EGME) has acquired the Bada Potash Exploration License, located in Danakil Depression, Eritrea via its subsidiary Interu Mining and Trading. Earlier this year, EGME had also acquired oil reserves in the sub-Saharan region. Essel Group is the promoter of Zee Entertainment, and is headed by Subhash Chandra Goel. The group’s primary […]
World’s largest air cooler company, Symphony Limited has agreed to acquire Munters Keruilai Air Treatment Equipment (Guangdong), China, the Indian company said. “MKE is a market leading brand in China, producing energy-saving and environment-friendly evaporative air coolers under brand Keruilai,” said Symphony, a household name in India. MKE came into existence in 2011 as a […]
Real estate player House of Hiranandani is offering to pay the rent of its customers who book a flat at its high-end Egattur project in Chennai for 18 months after booking. In addition, the customer will have to pay only 25% upfront at the time of booking, it said. “The remaining 75% can be paid […]
Nestle welcomed the decision by the Bombay High Court to lift the ban on Maggi noodles imposed by Food Safety and Standards Authority of India and said it expects to see the product back on shelves soon. “(We) will comply with the order to undertake fresh tests,” Nestle said on the order. “It is Nestlé […]
HCL Technologies, a leading global IT services provider, today announced that it has been appointed as the strategic IT partner to SAI Global. The contract is expected to save SAI Global around $27 million, HCL said. It would imply that the contract is worth a few million dollars, though HCL did not reveal the financial […]
Jindal Steel & Power Ltd said it is in the middle various steps targeted at reducing debt, including exploring options such as sale of assets and listing of subsidiaries. The company, which reported a decline in standalone EBITDA for Q1, said it sees market demand improve going forward and will increase its production of steel […]
UFO Moviez India Limited, India’s largest digital cinema distribution network and in-cinema advertising platform in terms of number of screens, said its Q1 revenue rose by 23.3% to Rs.1,306 million in Q1FY16. PBT for the quarter stood at ₹183 million, up 43.8% compared to Rs.127 million in the corresponding quarter last year. The Company’s PAT […]
The State Bank of India said it has fixed certain “control gaps” in its Hong Kong branch that led to a fine of Rs 6.17 cr by the local regulator. ‘”The control gaps related to the past and have since been remediated with appropriate enhancements in policies and procedures,” SBI said. “HKMA (Hong Kong Monetary […]
India came third in the number of candidates who took the CFA or Chartered Financial Analyst exam in June, organizers said. Of the 125,443 candidates who sat for the exams globally, 10,651 were from India, CFA Institute said. A total of 57,476 candidates passed the exams. Only the United States (30,715) and China (21,057) had […]
IDBI Bank reported a net profit of Rs 135 Crore for the quarter ended June 30, 2015 and Rs 873 Crore for year ended March 31, 2015 as against Rs 106 Crore for the quarter ended June 30, 2014 registering a growth of 27%. Total business (deposits and advances) as of June 30, 2015 stood […]
IndusInd Bank said it has raised a total of Rs 5,081 cr by selling 6 cr (60 mln) shares to its promoters and qualified institutional investors. “The raised capital will be used to support the Bank’s growth and also augment total Capital Adequacy Ratio. The QIP issue addressed to foreign and domestic institutional investors was […]
QUAAditya Birla Nuvo, the diversified business company, reported a 10% increase in its first-quarter revenue to Rs 6,820 crore, while net profit rose 50% to Rs 397 crore. EBITDA rose 31% to Rs 1,671 crore. Financial Services Aditya Birla Financial Services (ABFS) assets under management (AUM) grew by 29% to USD 28.9 billion (Rs 173,170 […]
