Tata Consultancy Services, the largest India-based provider of IT and outsourcing services, reported its lowest ever IT employee churn numbers even as the world grappled with economic uncertainties caused by a pandemic. For the year ended March, the company lost just 7.2% of its employees. Typically, IT companies see attrition levels of nearly double that. […]
The closure of Vedanta Ltd’s Tuticorin copper smelter in May 2018 has turned India into a net importer of refined copper, according to newly released government data. While India was a net exporter of refined copper to the extent of 3.34 lakh tonnes in the year ended March 2018 (prior to the shut down); the […]
Outsourced services provider Infosys today bagged a major client in the form of ArcelorMittal, the world’s leading steel and mining company. ArcelorMittal is a Luxembourgish multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel and is the world’s largest steel […]
BSNL, a state-owned telecom provider, has withdrawn the enormously popular Rs 449 Fiber Basic Plan with effect from today. The plan was put in place in November last year in response to the launch of a cut-throat, Rs 399 plan by Reliance Jio, India’s largest telecom operator. The 499 plan gave 3,300 GB of high-speed […]
Karnataka has emerged as India’s No.1 state in terms of installed solar power capacity overtaking early leaders such as Gujarat and Rajasthan, according to the latest numbers from the Minister of New and Renewable Energy, Government of India. According to these numbers, the south Indian state accounted for almost a whopping 19% of India’s total […]
Maruti Suzuki continued to see strong momentum in its auto sales, assuaging fears that auto sales will soon run out of steam as pent up demand vehicles start running out. However, India’s largest car maker reported total sales of 1.67 lakh in March, compared to 1.64 lakh in February. The number is double the 83,792 […]
HAL or Hindustan Aeronautics Ltd, a government-owned aircraft maker, reported a 6% growth in its revenue for the current year despite a one-month shut-down related to the COVID-19 pandemic. The Bangalore-based company reported provisional revenue of Rs 22,700 crores for the year ending today, up from Rs 21,438 crores for the year ended March 2020. […]
India has a whopping 77.17 gigawatt of renewalble power generation capacity either under implementation or in the process of being allocated for implementation, according to data from the ministry of new and renewable energy, Government of India. This is equal to about 83% of India’s total renewable energy capacity of 93 GW in place as […]
Kalyan Jewellers, which went public with a Rs 1,200 cr IPO last week, said it will open a whopping 14 new showrooms on April 24. The new stores being opened across India will increase the company’s store count to 151 from the present 137. As a part of the expansion, the jewelry retailer from Thrissur […]
Contrary to expectations, the COVID-19 pandemic has negatively impacted the growth of digital payments in India. Against a growth of 46% in the value of digital payments last year, this year, digital payments growth is on track to be around 11.5%. In terms of actual numbers, with 20 days remaining in the year, the total […]
Gufic Lifesciences Ltd, one of the oldest pharma companies in India, today said it has won the last pending regulatory approval for the amalgamation of its injectables unit with itself. It said it won approval from National Company Law Tribunal Mumbai for the merger last week. Since the transaction has a date of Jan 1, […]
Royal Orchid, which focuses on mid-sized hotels across India, announced the opening of 8 new hotels, its biggest batch of hotel inaugurations ever. The company also announced that it will continue to expand fast, moving up from 64 hotels at present. “We are on a path to set up 100+ hotels across the length and […]
Adani Welspun Exploration Ltd. (AWEL), a joint venture between the Adani Group and Mumbai-based Welspun Enterprises Ltd, announced its first ever gas discovery in a NELP-VII block Tapti-Daman Sector of Mumbai Offshore basin. Known as MB-OSN-2005/2, the 714.6 sq.km block is located in an area where production is already underway by other operators. The block […]
TVS Motor Co, one of India’s top two-wheeler makers, has launched the 2021 version of its successful mid-range motorbike Apache RTR 160 4V. The bike remains largely similar to the outgoing model, but does get a more favorable power-to-weight ratio thanks to shedding 2 kg. The bike is aggressively priced at Rs 1.07 lakh for […]
Hero MotoCorp, the country’s largest two-wheeler maker, is offering a discount of Rs 5,100 on all its scooters till Mar 12 as long as the purchase is made in the name of a woman. Given that Hero’s scooters typically range from around Rs 64,000 to Rs 75,000 on road, this translates to a discount of […]
In a sign of things slowly returning to normal, PVR announced the opening of a new multiplex theater after nearly a year. The new six-screen multiplex theater — the biggest in Mysore — will open inside Mysore’s biggest mall, Forum Center City Mall, today. PVR CEO Gautam Dutta said the new muliplex will offer “advanced […]
Tata Motors, the country’s largest commercial automaker, reported the best set of numbers for any automaker in India so far for the month of February as both commercial and passenger vehicle sales zoomed. Even as sales for most of its rival truck makers continue to remain spotty, Tata Motors reported a substantial increase in its […]
Continuing to ride the increased momentum in sales ever since the Coronavirus lockdown was relaxed last year, Mahindra & Mahindra reported its strongest growth in passenger vehicles in over a year. The company’s passenger vehicle sales jumped 41% for the month of February, a welcome relief in a year when they’ve so far been down […]
TVS Motor Co, one of India’s top motorcycle makers, said it appointed industry veteran Timothy Prentice as vice president in charge of design. Having started his career at Honda’s US-based R&D team, Prentice won the Red Dot award for designing electric motorcycle Mission R in 2010. Prentice has helped brands such as Triumph Motorcycles, Polaris, […]
Prestige Estates Projects, which operates some of India’s top malls such as Bangalore’s Forum Mall, said retail spending has recovered to around 70-80% of normal levels, though it may take several months for it to fully normalize. “The malls should be back in the next six months, they should stabilize fully. Hospitality should take a […]
