Jet Airways said it will challenge the order of the Competition Commission of India to impose a fine of Rs 39.81 cr for allegedly colluding with its rivals to fix air fares. In a statement on Wednesday, the Competition Commission said Jet Airways, SpiceJet and IndiGo engaged in “concerted action in fixing and revising Fuel […]
Prestige Estates, arguably the biggest developer of office buildings in Bangalore, said it will pay Rs 336 cr to get 80% of a company that owns 59 acres of land on Outer Ring Road at Sarjapur in Bangalore. “The company intends to develop a state of the art commercial office space with over 6 mln […]
Hero MotoCorp said it has launched the 2018 version of its extremely successful commuter bike Super Splendor. The bike will continue to be powered by a 125cc engine. However, it more powerful compared to the outgoing version as it has a peak output power of 8.4 kW or 11 PS (horsepower) at 7,500 rotations per […]
Preparations for the commencement of operations of India Post Payments Bank, scheduled for next month, is in the final stages, communications minister Manoj Sinha said, adding that one branch will be opened nearly all districts of India. “The preparatory works for roll out of 650 branches including the civil, electrical, branding and furniture are in […]
TVS Motor Co announced a new variant of its 200cc Apache RTR motorbike with special ‘race derived’ clutch technology that makes it easier to shift gears. The new model costs about Rs 1,600 extra. “The ‘A-RT Slipper Clutch’ technology, accentuates the motorcycle’s performance, with 22% reduction in clutch force for quicker upshifts, enabling the rider […]
Jaguar Land Rover reported a 2.6% decline in retail sales to 39,911 in February compared to last year. However, the decline was not very surprising, given that last year, the company had seen the highest ever February sales in its history. This year’s number is the second highest February sales ever, it said. Sales at its […]
Edelweiss Financial Services Ltd said its subsidiary Edelweiss Retail Finance is offering interest rates of 8.75% to 9.25% to retail investors who want to put in Rs 1,000 or more in the company’s debentures. Debentures are like bonds, and are issued by a company with a fixed tenure, after which they are redeemed. The interest […]
Pharma company Jubilant Life Sciences said the government of Maharashtra has stayed the order passed by state excise commissioner stopping the production of alcohol at one of its plants in the state. On March 3, the commissioner had canceled the company’s licenses for running a distillery at its factory located at Nira, Maharashtra. He had […]
The governments of Kerala and Tamil Nadu have classified 263 fishermen missing since cyclone Okhi as dead, taking the total death toll so far to 365 from the cyclone. A total of 102 people from Kerala and 191 people from Tamil Nadu had been registered as missing in the aftermath of the cyclone. Out of […]
The Delhi High Court has upheld the award of a Rs 5,060 cr compensation by the Delhi Metro Rail Corporation for circumstances leading to cancellation of Reliance Infra’s airport metro service. The compensation was originally awarded by an arbitration panel last year. Along with interest, said the Anil Ambani company, the total amount will coem […]
The government of India has canceled Rs 3,300 cr order for 8,356 Spike anti-tank missiles that was to be produced in India by Bharat Dynamics Ltd, a government of India enterprise, in association with an Israeli company. The anti-tank missiles were supposed to be have been produced with transfer of technology from Israel-based Spike. Preliminary […]
More than six years after an agreement was signed, US-based Cheniere Energy has started supplying liquefied natural gas or LNG to India. The first ship, Meridian Spirit, set sail from Louisiana and will reach Dabhol in Maharashtra by around 28 March, said GAIL, which is India’s largest gas supplier. Under the terms of the supply […]
Jain Irrigation Systems Limited said it has won a Rs 288 cr project from the Karnataka government to set up a drip irrigation system for 5,000 farmers in Chikmaglur district. The project involves lifting water from Upper Bhadra Canal and and using the same to irrigate 16,193 acres using drip irrigation. The contract, won through […]
Glenmark Pharmaceuticals reported encouraging clinical trial data from the study of its drug Ryaltris for hay fever or seasonal allergic rhinits. “Results of these robust studies demonstrates that consistent, significant relief from symptoms may be rapidly achieved and sustained with Ryaltris,” said Frank Hampel, Principal Investigator, Central Texas Health Research. “These findings, combined with prior […]
Within hours of getting an arbitration notice from Reliance Infrastructure seeking damages of Rs 5,440 cr, SKIL Infrastructure has counter sued the Anil Ambani Group firm for a higher amount. The infrastructure company, the former promoter of Pipavav Defence, also denied the charges made by Reliance Infrastructure on Monday. In a statement, Reliance Infrastructure had […]
ONGC said the government of Mozambique has approved the field development plan for a gas field in ‘Area 1’, one of the largest gas blocks in East Africa. ONGC owns 16% of the block, while 4% of the block is owned by Oil India Ltd and another 10% is controlled by Bharat Petroleum Corporation Ltd […]
Anil Ambani Group controlled Reliance Infrastructure said it has issued a notice of arbitration against the founders of Pipavav Defence and Engineering Limited seeking Rs 5,440 cr for “breach of warranties”. Reliance Infrastructure emerged as the biggest shareholder in Pipavav Defence and Engineering Limited in 2015, and subsequently renamed it to Reliance Naval and Engineering Limited. […]
The Bharatiya Janata Party and its partner Indigenous Peoples Front of Tripura are all set to end nearly a quarter of a century of CPIM rule in Tripura. After remaining neck and neck with the Left front in leads, the BJP-IPFT front has seen a sudden, and potentially decisive surge in the number of leads […]
CONG+ BJP/NDPP NPF/NPP/LEFT NAGALAND 1 29 26 MEGHALAYA 21 7 17 TRIPURA 0 40 10 The initial trends from the elections in the North Eastern states of Tripura, Nagaland and Meghalaya. Counting began at 8 AM, and first results have started to come in (see table above). Both Tripura and Meghalaya assemblies have 59 elected […]
Matrimony.com, the company behind India’s largest matchmaking service bharatmatrimony.com, said it acquired divorcee-oriented secondshaadi.com for an undisclosed amount. “Secondshaadi.com is one of the early movers in this space and has built a good brand name,” said the acquirer. “Buying secondshaadi.com will help us consolidate our offerings and help divorcees and widowers get wider choices than […]
