Bharti Airtel, one of India’s top three telecom operators, said it sees no use case for 5G in India right now, given the state of the industry and prevailing spectrum prices, and added that 5G was at least two years away in India. CEO Gopal Vittal’s comment comes less than a month after competitor Reliance […]
Bharti Airtel, which announced a program to partner with cable operators after Reliance Jio acquired Den and Hathway, said it has cracked the best model for the partnership and is planning to rapidly expand the program in the next 6-12 months. Airtel announced its cable operator collaborative program in late 2018, and has been trying […]
Punit Goenka, MD and CEO of Zee Entertainment Enterprises, hinted that his company may follow suit after Sony Pictures Networks shut down some channels due to evolving market conditions. “We constantly re-evaluate our portfolio of content offering that’s out there, whether in linear form or digital form. And we have taken certain decisions in the […]
Tata Motors and JLR’s bet on reviving the original spirit of Land Rover with the Defender brand seems to be paying off, with the first model already notching up enough orders to keep the production lines busy for the rest of the year. Adrian Mardell, Chief Financial Officer of Jaguar Land Rover, called the launch […]
Ministry of Health and Family Welfare today ruled out achieving herd immunity — developed as a result of a large portion of the population getting infected — as a workable strategy for India in its fight against COVID-19. Rajesh Bhushan, officer on special duty at the ministry, said the government cannot have a strategy based […]
Despite the extreme disruption caused by the COVID-19, Bharti Airtel reported a decent set of numbers for the Apr-Jun period, though the pandemic clearly slowed down the growth of Airtel’s 4G service and exerted pressure on realizations. PANDEMIC FREEZE While the company has been reporting strong increases in the number of 4G users in recent […]
Punit Goenka, the MD and CEO of content maker Zee Entertainment Enterprises, expressed reservations about the possibility of implementing TRAI’s revised tariff order in the current financial year. Responding to an investor query on what impact he saw the implementation of the January 1 tariff order would have on his company’s subscription incomes this year, […]
HT Media Ltd, the publisher of Hindustan Times and Mint, announced that it is buying Mosaic Media Ventures, the company that runs the funding and mergers-and-acquisitions focused website VCCircle.Com, for up to Rs 1 cr in deferred payments. It will also invest up to Rs 6 crore, post working capital adjustments, as a part of […]
Bajaj Auto, one of India’s biggest motorcycle manufacturers, said it is yet to see any down-trading or change of behavior among motorcycle buyers in India due to the COVID pandemic, and that demand is already at 80-85% of normal levels. Speaking to investors and analysts after the company’s quarterly results last week, executive director Rakesh […]
Coromandel International Limited, which makes the famous GROMOR brand of fertilizers, reported strong financial performance for the Apr-Jun quarter, indicating that farming activity in South India continued apace even during the COVID-19 lockdown. The company reported a whopping 51% jump in its revenue for the Apr-Jun quarter compared to the same three months of 2019. […]
The Telecom Regulatory Authority of India said it is abandoning its voluntary restraint in the implementation of new TV channel pricing rules announced on January 1 as channel broadcasters are taking advantage of the same to push through price increases. TRAI has so far not taken any action against those who did not implement its […]
Asian Paints, the country’s largest paints manufacturer, reported a 43% fall in its revenue for the Apr-Jun quarter due to a sharp deterioration in demand caused by the COVID-19 pandemic. Against the Rs 2,208 cr fall in revenue (compared to the same three months of 2019), the company’s total non-tax expenses fell by Rs 1,515 […]
Pharma major Lupin Limited (Lupin) said it has received tentative approval from US FDA for Empagliflozin and Linagliptin tablets used to control blood sugar levels. The approval is for selling combinations of 10 mg+5 mg and 25 mg+5 mg of the drugs. In these dosages, the tablets have annual sales of around 242 million in […]
Glenmark Pharmaceuticals Ltd said its trial of Favirpiravir showed a 28.6% faster recovery among those treated with the antiviral drug than on those who were on standard therapy. The 150-person trial showed “numerical improvements for the primary efficacy endpoint with 28.6% faster viral clearance in the overall population as measured by the median time until […]
In one of the biggest real estate deals post the lock-down India’s leading luxury developer, Sunteck Realty acquired a 50-acre property in the North Mumbai suburb of Vasai West. The company did not disclose the cost of the acquisition, but given the location and the size of the property, the deal is likely to be […]
Hindustan Unilever, the biggest advertiser in India, protected its profit margins during the Apr-Jun period by slashing its advertising budget by about 32%. Given that this is after merging GSK’s consumer healthcare business with itself, the actual decline in advertising is likely to have been in the 35% range. Even after adding GSK CH numbers, […]
Tata Communications, a provider of connectivity services to companies and other enterprises, said it has won a ‘Type B’ telecom license in Saudi Arabia to bolster its enterprise offering in the Middle East. Tata Communications is already providing some telecom services in the country, but as a foreign service provider. With the new license, it […]
The amount of money spent by an average SBI Credit Card user fell by 43% to about Rs 24,000 per month during the three months from April to June, but the company still managed to post a higher profit due to higher interest income and lower costs. Compared to Rs 24,000 in the latest period, […]
As the Coronavirus pandemic tightens its grip over the world, Infosys has announced a long-term contract with a billion dollar Germany chemicals maker to provide a managed workspace solution for its 14,300 employees in 33 countries. “Infosys will setup an end-user centric modern workplace with globally standardized device/workplace landscape (for Office, Functional and Virtual users) […]
Mindtree, a mid-size IT and outsourcing services company, said it has been chosen to provide SAP services to a unit of Sweden-based machinery maker Husqvarna Group. SAP is a Germany-based provider of enterprise software, such as that used to keep track of inventories, product design, sales and customer care. Usually, companies depend on IT providers […]
