In a unique move to ensure quality of roads, Kerala government will next month start a program in which government officials will be put in charge of certain stretches of roads and will have to be submit monthly reports, including freshly clicked photos, on the condition of their stretch of roads. The move is being […]
NDTV, India’s oldest English-language broadcaster still in existence, said it signed a deal with content promoter Taboola that can generate as much as Rs 750 cr or $100 mn for the company over the next ten years, provided NDTV is able to maintain its traffic growth. Taboola is famous for its paid recommendation engine that […]
Hero MotoCorp reported a whopping 43% decline in India two-wheeler sales in November due to a sharp downturn in rural demand. The company, which gets most of its customers from rural and semi-urban regions, sustained a sharp blow to both its motorcycle as well as scooter sales, with the latter taking a bigger beating. The […]
Navneet Education Ltd said it has agreed to invest Rs 75 cr in a sports management and services company known as SFA Sporting Services Pvt Ltd to pick up a 14.3% stake. Navneet Education is a developer and supplier of educational books and materials, and said the acquisition would help it offer “sports management” services […]
Tata Motors reported yet another month of outstanding sales figures in the form of November 2021, but the pace of growth declined marginally in a month that saw most others report steep declines in sales. The company’s total vehicle sales rose to 62,192 units from 49,650 units a year ago, but was lower than the […]
With the pent-up demand getting exhausted and the overall economy reeling under the impact of rising inflation and the after-effects of two waves of COVID-19, auto sales seem to be coming under pressure post the festival period. Two of the earliest companies to report their November numbers, Bajaj Auto and tractor maker Escorts, have both […]
Reliance Industries said it wants to ‘categorically deny’ any plans to bid for British wired services operator BT. “We categorically deny any intent to bid for the UK telecoms group, BT, formerly British Telecom, as reported in the article titled “Reliance Mulling Bid for UK’s Telco BT Group” published in The Economic Times dated November […]
Life Insurance Corporation of India, a government-controlled insurance company that has the highest share of the market in India, can continue to increase its stake in private lender Kotak Mahindra Bank, having got the nod from Reserve Bank of India to increase its stake to 9.99%. LIC has been increasing its stake in Kotak Mahindra […]
ITC Ltd, one of India’s largest consumer products makers with a pan-India presence and dozens of major brands under its belt, has invested Rs 20 cr to get a 16% stake in a Kolkata-based company that makes baby and mother care products. The deal values ‘Mother Sparsh’ at Rs 125 cr after investment, or Rs […]
Royal Enfield, India’s largest retro, semi-premium motorcycle brand, said its third assembly plant outside India started operations in Thialand. The plant, which will assemble the parts manufactured at the main plants in Chennai in India, will cater to markets such as Indonesia and Vietnam, besides the Thai market. Due to ASEAN trade pacts, it is […]
HCL Tech, one of the top five IT services providers based out of India, announced the opening of its largest delivery center in Sri Lanka. Located in a newly built complex known as Cinnamon Life in Colombo, the 10-storey center will accommodate 4,000 workers — four times the number of Sri Lankans employed by the […]
Maruti Suzuki and Toyota Group’s have created the first major, scientific auto-scrapping unit in India at NOIDA near Delhi. The factory can disassemble and recycle 24,000 vehicles per year, and has been constructed at a cost Rs 44 cr. ““Till now there was no scientific, clean and healthy way to dispose a car at its […]
TVS Motor Co, one of the biggest two-wheeler makers in India, today announced that it will invest Rs 1,200 cr in the area of electric vehicles and other futuristic vehicle technologies over the next four years. It also signed an agreement with the Tamil Nadu state government, as the investment will be done in its […]
Government of India-controlled Bharat Electronics Ltd, a manufacturer of defence electronics, said it received its largest ever export order in the form of a Make in India offset-contract from European aircraft manufacturer Airbus Defence & Space. In September this year, Indian Air Force had signed a Rs 20,000 cr contract with Airbus Defence and Space […]
RattanIndia Enterprises, led by IndiaBulls founder Rajiv Rattan, has announced plans to open Revolt electric bike showrooms in 60 new cities by early next year, which will take the total number of showrooms to 75. These new cities include Kolkata, Chandigarh, Lucknow and the national capital. The current crop of showrooms are located in Bangalore, […]
One 97 Communications, which operates the PayTM payments platform in India, revealed details of its October performance late on Sunday, hours before trading resumed in its shares after a volatile first day on Thursday. The company’s shares had fallen by a whopping 27% on day 1, wiping out around Rs 38,000 cr of investor wealth […]
RailWire, the consumer broadband arm of connectivity provider RailTel, said it plans to invest Rs 125 cr in coming months to increase its subscriber numbers by 20 times in the next two years. The company has already seen an increase of around 2.5 to 3 times in its customers over the last two years, almost […]
Indian Railways has decided to resume live catering services in all long-distance trains, given the restoration of normal train services a week ago, and asked IRCTC to restore live catering services as before. Live catering services, involving the cooking and delivery of food in specially designed kitchen cars on trains, were stopped in February last […]
Kitex Garments has incorporated a new company in Telangana, Andhra Pradesh, with an initial capital of Rs 100 cr, in keeping with the company’s earlier announcement of shifting some of its expansion to the new South Indian state. The Kerala-based company had created controversy in its home state several months ago due to political statements […]
Hinduja Global Solutions, one of India’s largest BPO providers with nearly 47,000 employees, said it was quite happy with how things are going under the ‘work from home’ mode, and has no immediate plans to shift employees back to the office. The comments come even as IT firms like TCS have asked employees to be […]
