Yes Bank, one of India’s youngest banks, said it will raise $600 mln by issuing five-year notes with a coupon rate of 3.75% per year. The bonds will be listed on the Singapore Exchange Securities Trading, International Securities Market of The London Stock Exchange and India International Exchange IFSC. The instruments will be issued on […]
Yes Bank, one of India’s youngest banks, said it will raise $600 mln by issuing five-year notes with a coupon rate of 3.75% per year. The bonds will be listed on the Singapore Exchange Securities Trading, International Securities Market of The London Stock Exchange and India International Exchange IFSC. The instruments will be issued on […]
Bajaj Auto reported strong sales growth for January, with overall motorcycles jumping 36% on year to 2.89 lakh units and three-wheeler sales setting an all-time monthly record. TWO WHEELERS Domestic sales of motorcycles were up 36% at 1.63 lakh, while exports of motorcycles rose 37% to 1.26 lakh. This has come as a relief to […]
Sales of Royal Enfield motorcycles rose 31% in the month of January when compared to the same month last year, said its manufacturer Eicher Motors. Eicher said it sold a total of 77,878 Royal Enfield bikes in January, or 2,512 bikes every day. The growth was led by sales of smaller Enfield bikes. Sales of […]
Tata Motors reported very strong auto sales for January, with passenger vehicle volumes up 55% and commercial vehicle sales up 38%. A large chunk of the gain came from the sales of small commercial vehicles. The company’s passenger vehicle sales in India were at 20,055 units for the month as against 12,907 units last year. […]
The following is the full text of Arun Jaitley’s speech on the Union Budget for 2018-19. The major highlight of the budget in terms of taxation was the imposition of a 10% tax on long-term gains from equity investments. “Madam, four years ago, we pledged to the people of India to give this nation an […]
Mahindra & Mahindra reported a 32% jump in its auto sales January 2018 to 52,048 vehicles, boosted by strong sales of commercial vehicles. The Passenger Vehicles segment, which includes SUVs, Cars and Vans, sold 23,686 vehicles in January 2018, as against 20,169 vehicles during January 2017, registering a growth of 17%. In the Medium and […]
The following are the important highlights of the budget speech by finance minister Arun Jaitley for the year 2018-19. UPDATE: To read what Jaitley said about the imposition of tax on equity transactions, click here. To read his full speech, click here. The following are the major announcements of the Budget 2018-19. EQUITY MARKETS Long-term […]
Quess Corp, the ‘business services’ subsidiary of Thomas Cook India, announced two major acquisitions, purchasing the Asia business of Monster.com and the Indian service center business of HCL Infosystems. Quess Corp will pay up to Rs 30 cr for the service center business of HCL Infosystems. It did not disclose the consideration for the monster.com […]
Godrej Properties, the Mumbai-based real estate developer, continued to strike deals with other players to develop their land parcels. The company announced three new projects, including two in Bangalore and one in NOIDA near Delhi. The Bangalore projects are in Devanahalli in the north and in Electronics City in the south, and both involve Godrej […]
Parts of North India experienced an earthquake at around 12:06 pm today. Reports indicated that the region from Jammu & Kashmir to Delhi felt the tremors. Other areas that felt the tremors are Chandigarh and Punjab. There are also reports that people in Pakistan, Uzbekistan and Afghanistan also felt the impact of the earthquake. “It […]
Hero MotoCorp unveiled what it called an advanced, premium motorcycle in the form of Xtreme 200, something that the company said is the result of research at its Center of Innovation and Technology at Jaipur. The Xtreme 200R, which will likely be priced in the ‘affordable premium’ category of around Rs 1.25 lakh, will start […]
Cochin Shipyard Limited said it has signed an agreement to construct 16 Tuna Long Lining & Gillnetting fishing vessels for fishermen in the Palk strait between India and Sri Lanka, making its entry into the fishing boat segment. The 22-meter long boats are being built to try to upgrade fishermen from the damaging practice of […]
SpiceJet announced 20 new non-stop flights on domestic routes starting from February 11, including 18 in South India. SpiceJet will use Bombardier Q400 aircraft on the new routes, except for the Chennai – Guwahati, which will see a Boeing 737. Out of the 18 flights, ten will be catering to the popular tourist destinations in […]
Cipla and Strides Shasun, two Indian pharmaceutical companies, both said they have started shipping generic versions of Gilead Sciences’ HIV drug Viread after patent protection expired last week. Viread is among the bigger pharmaceutical drugs in the US and has sales of around $725 mln (Rs 4,650 cr) in the US every year. The patent […]
India’s largest carmaker Maruti Suzuki reported a 14% increase in net sales for the third quarter, but net profit increased by only 3% due to a rise in tax expenses and investment losses. Operating profit rose 22% on year. Higher “tax rates and lower non-operating income due to mark-to-market impact on the invested surplus” were […]
Haryana Police denied rumors of widespread violence in the state associated with the exhibition of the film Padmaavat and reassured cinema-goers of ‘full protection’. The assurances come a day after malls and vehicles in Gurgaon, the commercial capital of Haryana, came under attack, allegedly from activists of Shri Rajput Karni Sena. “I want to assure […]
Shriram Transport Finance Company said it has decided to sell a majority stake in its vehicle auction company Shriram Automall to Cartrade.com to create what it called India’s leading used vehicle platform. CarTrade, owned by MXC Solutions India, will acquire majority stake in Shriram Automall India Limited (SAMIL), India’s offline auction platform for pre-owned vehicles […]
JMC Projects, the construction arm of Kalpataru Power Transmission, said it won six orders totaling Rs 751 crores. Out of the five, three are residential, two commercial and the other one industrial. Out of the three residential projects, two are in North India and one in South India. Both commercial buildings are being built in […]
Havells India, one of India’s best performing companies and an electrical goods maker, reported an 11% like-for-like revenue growth for the third quarter and a sharp increase in profit margins. In the second quarter, the company was able to report only a 4% increase in comparable sales. The company’s comparison quarter last year had been […]
