Department store chain Shoppers Stop, the pioneer of organized retail in India and one of the country’s largest retailers of fashion and beauty products, will connect its individual stores to its Amazon shopfront by next month as part of its omni-channel strategy. It also said it would focus on Tier 2 and Tier 3 towns […]
Reliance Jio, which started wired broadband operations in September last year, has started speeding up the roll-out of its Jio Fiber service after an initial slow-down. The company started the service with around 8 lakh connections as of October end, most of which were converts from its trial service. Over the next two months, it […]
One of the remarkable aspects of post-lockdown two-wheeler sales in India has been the surge seen in the numbers of Hero MotoCorp, India’s largest motorcycle maker. While sales trends were largely depressed for rivals Honda (down 37% in July), Bajaj Auto (down 23%), TVS (-16%) and Royal Enfield (-23%), Hero — despite its massive market […]
Sun TV Network, one of India’s largest home-grown broadcasting companies, said it will redraw at its investment plans for SUN NXT over the next three months in light of the app’s performance and the company’s cash flow. The company had, a year ago, announced that it will invest Rs 150 cr over 18 months to […]
Prestige Estates Projects Ltd, which operates nine malls including The Forum Mall in Bangalore, said footfalls are down 75%-80% at malls due to the COVID-19 pandemic. Speaking to investors after detailing the company’s June quarter results last week, company officials also said they were seeing signs of stress among customers of residential properties, even though […]
Maruti Suzuki India said it has tied up with NS Raghavan Center Entrepreneurial Learning at IIM Bangalore to scout out start-ups in the automobile sector. Maruti Suzuki, India’s biggest carmaker, will look for technology-based innovations that can be applied in the mobility sector. Among the focus areas will be digital, data and AI/ML in the […]
North India-focused fashion retailer V2 Retail Ltd reported an 82% fall in its sales for the Apr-Jun quarter, as the COVID-19 pandemic hurt consumer sentiments and frequent lock-downs disrupted store operations. Revenue from operations fell to Rs 37 cr from Rs 202.3 cr in the year-ago period and Rs 129.2 cr in the March quarter. […]
Sun TV Network, one of India’s top three home-grown broadcasters, said it did not expect a negative impact on its subscription revenue due to the implementation of TRAI’s amended television tariff order or NTO 2.0. The company said it was confident of working out a way to make sure that the average amount paid by […]
D-Mart, India’s most famous deep discount retail chain, said it is working on expanding its footprint beyond its current footprint of 214 locations, but the ongoing COVID-19 will impact the number of new stores that will be opened this year. The company, which started with just two stores in Mumbai in 2002-03, expanded to 214 […]
Godrej Properties, the fastest growing of India’s real estate majors, saw a surge of NRI (non-resident Indian) customers as well as a huge pick-up online sales during the COVID-19 lock-down. Despite a harsh lock-down in place in India during most of the Apr-Jun quarter, the company managed to sell a whopping 2,130 homes during the […]
AM Naik, chairman of the country’s largest infrastructure development company Larsen & Toubro, today called upon the government to create the right ecosystem to channel the anti-China sentiment productively. “The strong anti-China sentiment within India and around the world is a possible game changer for domestic industry,” he said, delivering the chairman’s statement at the […]
DB Corp, the company that owns the Dainik Bhaskar daily and My FM radio network, said a sharp fall of 76% in its advertising revenues pushed it to a loss in the Apr-Jun period. DB Corp’s advertising revenue fell to Rs 107 cr from Rs 442 cr for the same quarter of last year. The […]
After getting postponed several times, an application by broadcasting companies such as Zee Entertainment Enterprises against the latest TRAI directive to implement the new tariff order has been listed for hearing tomorrow morning. The application was originally listed before the Bombay High Court for hearing on last Thursday, but there was no hearing on account […]
D-Mart, arguably India’s most successful low-cost retailer, may be looking at a multi-city e-commerce launch in coming days, after years of avoiding the sector citing the gruesome economics of online retail in India. Avenue Supermarkets, or D-Mart as most people would know it, is known for its fanatic focus on keeping costs down and its […]
Continuing the theme of TV news companies defying the trend of the COVID-19 pandemic pushing media firms into losses, NDTV reported a profitable quarter for the Apr-Jun period and said it has reversed the pay-cuts installed for most of its employees. This follows rival TV Today also bucking the trend and reporting a profit of […]
Matrimony.com, one of the largest matchmaking companies in the world, said it continue to offer discounts and special pricing to attract new internet users who are coming online via the 4G wireless data revolution. The company, which operates the Bharat Matrimony website and others, has typically charged several thousand rupees for its paid membership. Only […]
Major television channel broadcasters had a disappointing Friday as their application against TRAI’s move to impose the new tariff order could not be heard due to paucity of time, marking the second day the application has been listed and went unheard. Big broadcasters had approached the Bombay High Court earlier this week against TRAI’s Aug […]
TV Today Network Ltd, the company that operates India Today and Aaj Tak news channels, reported better than expected numbers for the Apr-Jun period, thanks to surprising resilience in its TV channel revenues.. India Today, which depends on advertising for nearly all its top line, saw revenue from its TV broadcasting business fall by about […]
Bombay High Court will tomorrow hear a plea filed by various channel broadcasters against TRAI’s direction two weeks ago asking them to publish new channel and pack prices in line new rules issued on Jan 1 this year. UPDATE: Hearing on the matter has been pushed to Friday, Aug 7. On January 1, TRAI had […]
With many Indian consumers looking for non-Chinese phones to buy, Indian mobile handset brand Lava has launched a new made-in-India Android smartphone priced at Rs 7,777. Interestingly, despite the ‘made in India’ branding, the Geekbench listing of the phone seems to suggest that it has built using a Chinese chipset made by Unisoc. Most phones […]
