Mahindra & Mahindra’s passenger vehicle sales continued to be impacted by the success of Vitara Brezza and other SUV models from its biggest rival Maruti Suzuki. For the July quarter, total utility vehicle sales at Mahindra & Mahindra fell by 7% compared to a year ago to 17,879, even as sales of cars and vans continued […]
Nature-based consumer products maker Dabur India reported 24.6% growth in net profit for the first quarter, riding the trend of rising sales. However, the company, which faces tough competition from Patanjali Ayurved, reported a dip in profits when compared with the preceding quarter. The primary reason for the sequential decline was a sharp increase in […]
Lumax, India’s biggest maker of automotive lamps, reported a 32% increase in its Apr-Jun quarter, boosted by a sharp increase in revenue. Revenue jumped to Rs 496 cr, up 46% compared to the same quarter a year ago, while net profit rose to Rs 20 cr, up from Rs 15 cr in the same quarter […]
Gujarat, Rajasthan and Andhra Pradesh are emerging as the top destinations for large, utility scale solar projects in India, according to numbers from the Minister of New and Renewable Energy. According to data for Government of India’s “Solar Parks and Ultra Mega Solar Power Projects” scheme, Gujarat ranked as the state with the highest number […]
Solar power has emerged as the fastest growing segment within the renewable energy sector in India, overtaking the long-time favorite wind power. According to data from the Ministry of New and Renewable Energy, wind power was the clear winner till about 2014, but has clearly got left behind since then. The year 2014 was when […]
NTPC Ltd, the public sector power producer, will add 5,680 MW of power generation capacity this year and spend about Rs 22,300 cr on capital projects, the power ministry said. Out of the Rs 22,300 cr required for capital expenditure this year, Rs 12,468 cr will be borrowed and the remaining will be raised via […]
The border between India and Pakistan is seeing a sharp and steady increase in deaths due to firing — including those of militants — in the last three years, Defence ministry numbers revealed. With more than five months to go before the year is through, 2018 has already seen the deaths of 27 army and […]
PVR Cinemas, the country’s largest cinema exhibition chain, said it has opened a four-hall multiplex cinema at Garuda Mall in Mysore. The multiplex has 948 seats and comes with 2K projection systems, Dolby Digital 7.1 surround sound and next generation 3-D screens. The property is spread over 29,500 square feet. Chairman and MD Ajay Bijli said […]
Sun Pharmaceutical Industries said it has launched the glucose regulating drug metformin hydrochloride in the United States. The tablets in two strengths — 500 mg and 1000 mg — have an addressable market size of around $443 million, the company said, quoting IQVIA. Metformin hydrochloride is sold in the US by Santarus Inc under the […]
Hardik Patel, who led the 2015 agitations by Patels seeking reservation in government jobs and higher education, has been found guilty by a trial court in a case filed by a BJP leader. He has been held guilty in the case of vandalizing the office of BJP legislator Rushikesh Patel in Visnagar three years ago. […]
The ministry of social justice and empowerment said that a committee looking into the need for sub-categorization of OBC groups is expected to submit its report by 31 July. The committee, comprising four members headed by retired Supreme Court Justice G Rohini, was formed in October last year. Minister Krishna Pal Gurjar said the committee […]
Ministry of Home Affairs today denied media reports that said that the center would set up a police force dedicated to fighting cyber crime. Law and order is a state subject in India, and currently cyber crimes are dealt with by state police forces. Earlier this year, media reports suggested that the home ministry had […]
The price of petrol charged to the dealers, before taxes and deal commission, is Rs 36.68 per liter in India as of July 16, while that of diesel was Rs 39.77, ministry of petroleum and natural gases has revealed. However, on that day, petrol was being sold at Rs 84.22 per liter in Mumbai and […]
Setting off a controversy, Janam TV, a Malayalam news channel with leanings towards with the BJP, today reported that displaced people belonging to scheduled castes at a relief camp in Aleppey were moved to a separate relief camp due to protests from another community. The ‘apartheid’ took place at a relief camp run by the […]
Human Resources Development minister Prakash Javadekar today said that the government is still in the process of finalizing the draft of a new bill to set up a new higher education body in India. “The Ministry is in the process of finalization of the draft Higher Education Commission of India Bill, 2018 based on the […]
Maruti Suzuki said it has completed production of 20 million (2 cr) vehicles in India, 34 years after it started production. The feat has been achieved in a little over seven years after the company hit the 10 mln (1 cr) milestone. The carmaker is the only one in India to achieve the feat, even […]
IDBI Bank, which is the target of an acquisition move by the Life Insurance Corporation of India, has emerged as the bank with highest proportion of bad loans among public sector banks in India. As of the end of 2017-18, IDBI Bank had a gross non-performing asset percentage of 28%. In other words, out of […]
The finance ministry has clarified that it is yet to take a final decision on the proposed acquisition of IDBI Bank by India’s largest insurer Life Insurance Corporation or LIC. Responding to concerns of “hard earned money of the LIC policy holders sinking” in the deal, finance minister Piyush Goyal said it was LIC that […]
Zydus Cadila said it received the final approval from the USFDA to sell Spironolactone Tablets, used to treat blood pressure and heart failure. The tablets, in strengths of 25 mg, 50 mg and 100 mg, will be used for lowering high blood pressure to prevent strokes, heart attacks and kidney problems. It is also used […]
Infosys Foundation, the philanthropic arm of Infosys, said it has signed an agreement to construct and maintain a metro station next to its main campus in Electronics City, Bangalore. The station, to be constructed at Konappana Agrahara, will be covered under the second phase of Bangalore Metro’s expansion plans and is expected to be operational by […]
