Credit rating agency ICRA has revised its revenue target for the TV broadcasting sector in India due to a faster than expected bounce-back in advertisement revenue and strong growth in subscription incomes. The ratings company, however, kept its forecast for the print industry unchanged, predicting a decline of 30% for the ongoing financial year. BROADCAST […]
Vodafone Idea, the country’s third largest mobile operator, has started deploying a revolutionary new approach to creating its cellular network, but has also encountered several challenges in doing so. The company is experimenting with the so-called ‘open radio access network’ or Open RAN technology, which is a break from the traditional one-box technology promoted by […]
Bharti Infratel, the tower company spun out of Bharti Airtel, said it will change its name and ticker to Indus Tower on Friday, Dec 18. The name and stock ticker will come into effect on India’s major stock exchanges, including the NSE, on that day. The new ticker will be INDUSTOWER. The merger, originally designed […]
Displaying a united front against high 5G spectrum prices, India’s top wireless operator Reliance Jio has become the latest to came out strongly against government’s proposed 5G spectrum prices. Vishakha Saigal, vice president and head of strategic initiatives, regulatory policy and research at the Mukesh Ambani-led company, said spectrum prices have to be made affordable. […]
Mid-range models like XUV300, Thar and Bolero proved to be the wind behind sails of Mahindra & Mahindra’s 27% sales growth in November, according to the numbers released by the company today. On the other hand, sales of both entry-level as well as higher priced models, such as KUV100 and XUV500, proved to be a […]
L&T Technology Services, a provider of consulting and outsourced services in the engineering field, said it won a $100 million (Rs 750 cr) contract from a major US oil and gas company. L&T Tech will be the US company’s primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in USA, […]
Pharmaceuticals manufacturer Indoco Remedies has won a major contract to supply Allopurinol, used to bring down uric acid in the blood, from Germany. The two-year contract will generate around Rs 70 cr per year for the company. “This is Indoco’s first own label product in Europe,” said Managing Director Aditi Kare Panandikar. “Germany is totally […]
Hindalco Industries Limited, the Aditya Birla Group metals flagship, said it intends to set up a 34,000-tonne aluminium extrusion plant at Silvassa, the capital of Dadra & Nagar Haveli, at a cost of Rs 730 cr. The new plant will service the fast-growing market for extruded aluminium products in the western and southern regions, particularly […]
Pharmaceutical manufacturer Zydus Cadila said it received permission to initiate clinical trials for ZYIL1, an oral small molecule NLRP3 inhibitor, as an anti-inflammatory agent. The molecule is being explored for treating a variety of inflammation-related conditions, including Acute Respiratory Distress Syndrome (ARDS), auto-immune diseases, inflammatory diseases, cardiovascular diseases, metabolic disorders, gastro-intestinal diseases (inflammatory bowel disease), […]
Tata Consumer Products Ltd said it has decided to divest its MAP Out of Home coffee business in Australia to Buccheri Group Pty Ltd to focus on more profitable lines of businesses. It will not affect its branded tea business in Australia. The company, which supplies both coffee beans as well as machines to coffee […]
Reliance Jio, whose entry into wireless telecom decimated the competition, seems to be all set to repeat its performance in the wired broadband space. The company added a whopping 3.03 lakh wired connections and 2.7 lakh fiber broadband connections in the month of September. Before this, the record for the highest number of wired broadband […]
Maruti Suzuki India today said it had decided not to use Toyota Kirloskar’s factory in India to manufacture Vitara Brezza, also sold as Toyota Urban Cruiser in India. An agreement was announced in March last year in which the two companies announced that Maruti Suzuki will supply Baleno to Toyota in India. At the same […]
Larsen & Toubro, India’s biggest construction firm, said it has got an encouraging response to the launch of its second phase of its Seawoods Residences project in Navi Mumbai. The first phase of the semi-premium housing project, launched early last year, saw decent levels of interest, with reports claiming that the company got 1,800 bookings […]
The management of Chennai-based Sun TV Network seems to have abandoned the earlier ‘hybrid strategy’ for its digital platform and come to the conclusion that an advertising-led model will likely not work in the video-on-demand universe in the longer term. The company’s Sun NXT app has been by far the most aggressive player as far […]
Mahindra & Mahindra reported its strongest growth yet in the COVID-19 era after sales in November surpassed expectations, with strong numbers coming in from the tractor department. The company reported a whopping 55% jump in tractor sales for November, compared to just 2% in October. Similarly, sales of utility vehicles such as XUV500 jumped 27% […]
Mahindra & Mahindra, the second-biggest Indian auto brand, is hoping that the valuable lessons that it has learnt from a series of less-than-spectacular product launches — reflected in the design and success of the new Thar 2020 — will be a harbinger of better luck in store for the company in 2021. Over the last […]
Radhika and Prannoy Roy, the couple who started and continue to head India’s oldest dedicated news channel NDTV, have disputed findings by the stock market regulator that they engaged in insider trading and said they will appeal the regulator’s order. On Friday, Securities and Exchange Board of India had issued an order directing them to […]
Indian drugmaker Laurus Labs said it signed a definitive agreement to acquire a majority stake in a Bangalore-based, fast-growing biotech company, Richcore Lifesciences, for Rs 246.67 cr. Richcore has advanced R&D and manufacturing facilities to develop and manufacture biotech products critical for manufacturing biological drugs. Richcore also helps its global customers to develop and scale-up […]
Huffington Post, a new-generation digital publisher, has likely become the first casualty of the government of India’s decision to ban foreign companies from opening news websites in India. About four weeks ago, government of India banned all foreign owned companies from distributing news and current affairs content in India or even supplying news to Indian […]
After launching car subscription services in Delhi-NCR, Bangalore, Hyderabad, and Pune, India’s largest carmaker has brought the service to Mumbai, Navi Mumbai, Thane, Chennai, Ahmedabad and Gandhinagar. The service will cost around Rs 14,690 per month in Gujarat for a Swift LXi for a four-year contract, excluding GST. In Chennai, it will cost Rs 15,196 […]
