Tata Motors Limited said it saw a 5% increase in the number of vehicles sold in India during October, driven by the commercial vehicle segment. Total sales were at 48,886 units. However, most of the growth came from light CVs and pick-ups. Both commercial and personal passenger vehicle sales showed a disappointing performance. On the […]
Two- and three-wheeler manufacturer TVS Motor Company reported a revenue growth of 18.2% for the quarter ended September 2017, while net profit jumped 20%. Revenue excluding duties grew to Rs. 4097.99 crores in the quarter ended September 2017 from Rs. 3465.69 crores last year. Profit After Tax (PAT) increased by 20.2% to Rs.213.16 crores in […]
IDBI Bank said Net Interest Income for September quarter improved by 3.63% compared to previous year and 18.19% compared to the June quarter. Net Interest Margin (NIM) stood at 2.17% for QE Sept 2017 showing improvement of 27 basis points as compared to QE Sept 2016 and 45 basis points as compared to the preceding […]
Eicher Motors said it sold 69,492 Royal Enfield Bullet motorcycles in October 2017, up 18% compared to the same month last year. However, the number represented a slight decline in the pace at which the company’s sales have been growing this year. For example, from April to October this year, total number of Royal Enfield […]
Alembic Pharmaceuticals said it bought New Jersey-based generic drug developer Orit Laboratories LLC, which will bring seven approved generics and four applications with it. Orbit has “a team of eight highly experienced scientists,” Alembic said, adding that the firm focuses on developing and filing oral solid and liquid products. “We Welcome Dr. Satish Patel, Founder […]
Bharat Sanchar Nigam Ltd has increased the speed of all its broadband to 10 Mbps from 2-4 Mbps from tomorrow for all plans starting from Rs 675 per month. This price and data allocation of the plans will remain unchanged, it said. For plans below Rs 675 per month, the download speeds have been increased […]
Tata Steel has promoted T V Narendran, currently MD for India and South East Asia, as the company’s new CEO and Managing Director. The Board also reappointed Koushik Chatterjee as Executive Director and Chief Financial Officer for a period of 5 years with effect from November 9, 2017, when his present term expires on November […]
Dabur India, one of the world’s biggest manufacturers of natural FMCG products, reported a slight revenue decline for the second quarter, but net profit rose marginally. Dabur’s Sept quarter revenue was hit by a steep appreciation in the currencies of several of the countries where the company sells its wares, it said. Adjusted for currency […]
Bharti Infratel reported a 17% fall in its net profit for the three months ended September, due to a sharp decline in its finance-related revenue. On finance charges, there was a net inflow of 62 cr this quarter compared to an inflow of 306 cr last year. Net profit fell to Rs 638 cr from […]
The Supreme Court today asked the government to produce Fadiya, previously known as Akhila Ashokan, before Nov 27 in the controversial ‘Love Jihad’ case from Kerala. In the petition filed by Fadiya’s ex-husband Shafeen Jahan, the court came to the conclusion that it would need to speak to the girl after conflicting allegations were leveled […]
Pharma major Lupin reported an 8% fall in Q2 revenue to Rs. 3,952 cr. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the quarter fell by 13% to 927 cr. Net profit was also down by 31.3% at Rs 455 cr in in the September quarter. The profit was higher than the mean analyst […]
Madrasas in Uttar Pradesh state of India will soon start teaching from science and maths textbooks printed by the NCERT, deputy chief minister Dinesh Sharma said today. “Madrasas will teach using NCERT text books. The board has started preparations,” Sharma said today. Science and maths have been made mandatory from high-school level in all schools. […]
Taking a jibe at Congress Vice President Rahul Gandhi’s ‘increasing love for Dalits’, Dalit leader Ramdas Athawale said the chronic bachelor and heir to the Congress Party should now get married to a Dalit girl. Speaking at a function in Akola in Maharashtra, Athawale said Gandhiji wanted to erase the scourge of caste from India […]
ITC Ltd said its performance during the second quarter was relatively subdued due to “severe pressure” on the cigarette industry and sluggish demand conditions prevailing in the FMCG industry. Operating conditions in the Agri Business and Hotels Segment also remained challenging, it said. On a comparable basis, Gross Sales Value’ stood at Rs 16,391.58 crores […]
Pharma giant Cipla said it received final approval to market a generic version of Genzyme’s kidney drug Renvela Tablets in the US. Renvela Tablets had US sales of approximately $1.85 billion for the 12-month period ending August 2017, according to IMS Health. The approval is for Sevelamer Carbonate Tablets, 800 mg, which is an AB-rated […]
A massive fire has broken out in Bandra East, near the railway station. Western Railway authorities said both the Western Line and the Harbour line are running normally. They said the tracks have not been impacted by the fire so far, but they are keeping a ‘close watch’ on the developments. “As of now, the […]
Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]
Pharma Major Lupin said it received final approval from the United States Food and Drug Administration (FDA) to market a generic version of Concordia Pharmaceuticals Inc.’s ADHD drug Kapvay. It had annual sales of approximately USD 66 million in the US. Clonidine Hydrochloride, the AB rated generic equivalent, is used for the treatment of attention […]
Larsen & Toubro said its construction arm won orders worth Rs 3,551 crores. The first is a Rs 1,123 crore order from the government. The contract is for design and construction of smart trunk infrastructure with roads, storm water drains, water supply network, sewerage network, utility ducts for power and telecom, reuse water line, pedestrian […]
IT company Wipro Ltd said it increased its stake Drivestream, which focuses on implementing Oracle’s cloud solutions, to 43.7% from 26.1% by investing around Rs 26 cr. Wipro had first invested in the company about four months ago, and seems to have liked what it saw. It made the latest investment by converting some of […]
