The Calcutta High Court said it will decide whether to lift its stay on the implementation of TRAI’s new TV channel regulations on Thursday after ascertaining if cable operators genuinely have a right and wherewithal to negotiate with their feed providers. The court came to this conclusion after the TRAI disputed the complaint given by […]
Airtel Africa Ltd, the holding company of Bharti Airtel’s Africa operations, said Qatar Investment Authority, the sovereign wealth fund of Qatar, has agreed to invest USD 200 million through a primary equity issuance in the company. The proceeds will be used to further reduce Airtel Africa’s existing net debt, it said. The investment from QIA […]
Indian pharmaceuticals manufacturer Dr Reddy’s Laboratories Ltd said the US FDA has issued a Form 483 after auditing its Miryalaguda plant in Telangana. A Form 483 is issued when inspectors notice discrepancies in the policies and practices followed in a manufacturing facility vis-a-vis the good manufacturing practices laid down by the US drug regulator. Companies […]
The Income Tax Department has ‘provisionally attached’ Mindtree shares worth Rs 660 cr belonging to VG Siddhartha, the founder of Cafe Coffee Day and the son in law of former Congress leader and Karnataka Chief Minister SM Krishna. Mindtree said it received intimation from the Income Tax Department that it had provisionally attached about 75 […]
Reliance Jio, the 4G player that started its operations about two years ago, is on track to overtake market leaders Bharti Airtel and Vodafone Idea to become India’s No.1 operator next year — India Ratings said. The credit rating agency, a unit of Fitch Group, said it expects Jio to overtake the other two some […]
Maruti Suzuki India Limited (MSIL) said it will set up Japan-India Institute for Manufacturing (JIM), a model ITI, at Uncha Majra village in Gurugram district. JIM Uchamajra expected to start its first session by August 2019, will be the first in Haryana. Maruti Suzuki will initially invest over 7 crores to set up the JIM. […]
Vodafone will invest Rs 11,000 cr into its Indian subsidiary Vodafone Idea, while its co-promoter Aditya Birla Group will chip in Rs 7,250 cr, the company said today. In total, Vodafone Idea plans to raise Rs 25,000 cr from all its shareholders by selling shares. In case any of the existing shareholders waives their right […]
Jio GigaFiber, the wired service from Reliance Jio, moved closer to its mega roll-out plan after it received a crucial approval from the Competition Commission for the company’s purchase of Den Networks and Hathway Cable & Datacom. The approval by the Competition Commission was seen as the main, if not the only, crucial regulatory approval […]
A court in Kerala has agreed to hear a case filed by Praveen Togadia-led Antarrashtriya Hindu Parishad against Chief Minister Pinarayi Vijayan and others for facilitating the entry of what the organization called non-believers into the Sabarimala temple two weeks ago. The case, filed by AHP National Secretary Pratheesh Vishvanath — the man behind the […]
Maruti Suzuki said it has opened booking for Baleno 2019 edition. The car, which falls into the mid-range hatchback category, can be booked at any NEXA showroom by paying Rs 11,000. Just days ago, Maruti Suzuki had opened booking for the new WagonR. Baleno is targeted at customers who want something a little more ‘premium’ […]
PhonePe, the payment app backed by Flipkart, announced that it has crossed the 1 mln merchants milestone and plans to add another five million this year. This is likely to help the company narrow the gap with market leader PayTM, which had an estimated 10 mln (1 cr) merchants in its network as of late […]
Retired Supreme Court judge Markandeya Katju, known for his frank and often outrageous political statements, has forecast chaos and instability after the upcoming 2019 general elections. The elections, he said, would create conditions similar to the mid 1990s and 1977, when no single party had the critical mass to form a stable government at the […]
As Netflix inches closer to saturation point in its North American home market, it is desperately looking for growth abroad. India being the only billion plus market where it can operate with ease, it is no wonder that its push is aggressive here. However, as Netflix’s market share stagnates, does it risk meeting the same […]
HT Media, one of India’s top English-language news publishers, continued to report falling revenue and profits, even as the expected boost from a delayed festival season failed to materialize. The company reported a 2.5% year-on-year decline in its revenue for the Oct-Dec quarter, while operating profit (EBITDA) plunged 57%. Revenue came in at Rs 665 […]
Bharti Airtel said it has become the first telecom operator to launch 4G services in Andaman and Nicobar Islands. “Airtel’s 4G services will enable local residents to enjoy digital services like HD quality video streaming, superfast downloads and uploads, high speeds internet browsing on Airtel’s state-of-the-art FDD 4G network,” the company said. Andaman and Nicobar […]
Morgan Stanley Research, part of the MS financial services group, said the US currency has likely peaked already and that the US Federal Reserve is likely to follow a more accommodative monetary policy going forward. Fed Chairman Jerome Powell had softened his stance early this month after his December comments about balance-sheet normalization at the […]
United Spirits Limited (USL), India’s biggest liquor maker and a unit of Diageo plc, said it has sold its wine unit Four Seasons Wines and associated brands for Rs 32 cr. Four Seasons Wines was established in 2006 in Bangalore. It produces red, white, and rose wines from grapes grown around Sahyadri valley in Maharashtra […]
Growth trends of last decade show that Indian M&E can act as an important contributor to India’s economic growth, but the sector continues to be a dwarf compared to its global peers. Can 2019 prove to be a point of inflection and kick-start next decade of explosive growth? The year was 2009 when Indian media […]
NTPC, India’s largest power producer by far, has invited expressions of interest worth thousands of crores of rupees for the supply of agricultural waste to 21 power plants across the country. NTPC will give a four-year assured off-take commitment. The proposals, invited on Dec 26, can potentially be a lucrative opportunity for entrepreneurs willing to […]
Bharat Heavy Electricals said it won a Rs 565 cr order for setting up four solar power plans in Telangana from Singareni Collieries Company Limited. The total capacity of the four plants will be 129 MW, the state-owned capital equipment maker said. With this, BHEL said its solar portfolio has risen to more than 710 […]
