Amara Raja Batteries Ltd, India’s biggest manufacturer of lead acid batteries, reported a modest increase in revenue, and said it continued to face a demand slow down in its key markets of automobiles and telecom. “The automotive sector is facing challenges of demand uncertainty due to social, regulatory and technological changes,” said Vice Chairman and […]
Maruti Suzuki, India’s largest carmaker, reported a sharp decline in the sales of its larger cars and utility vehicles in January, even as sales of small and compact cars remained resilient. Sales of Ciaz, the mid-segment sedan that costs around Rs 10 lakh, fell by a whopping 71.5% to 835 units in January compared to […]
Members of the special emergency team set up by Kerala health minister KK Shailaja were faced with a unique dilemma on Friday after a girl who returned from Wuhan, China with fever refused to enter quarantine on religious grounds. According to local media reports quoting health ministry officials, the girl belongs to one of the […]
After a slow 10 months, Escorts – one of India’s largest tractor makers – reported a 1.2% growth in tractor sales in India during January this year compared to the same month of 2019. The growth indicates a slight increase in the company’s sales trends compared to the rest of the financial year so far. […]
India’s major cable and DTH companies, such as Tata Sky, Airtel Digital, Dish TV, Hathway and GTPL, are likely to unveil new plans and TV channel packs today under TRAI’s amended tariff order. According to the amended tariff order — which has not been stayed by any court so far — all distribution platforms (cable […]
The Bombay High Court has not granted any stay on TRAI’s modified tariff order for TV channels that is scheduled to come into effect from March 1. Instead, the bench of Justices SC Dharmadhikari and RI Chagla posted the matter for February 12 and 13. This is the third time that broadcasters have had to […]
Turkish durables player Arçelik and Tata Group’s Voltas have started operations at their first production facility in India at Sanand in Gujarat. The facility will be operated by Voltbek Home Appliances Pvt Ltd, the 50:50 joint venture between the two groups, and will gradually be scaled up to 2.5 million units of annual production by […]
Aurobindo Pharma Ltd has said that the US FDA has lined up one of its oral solids formulation plants in Telangana for regulatory action, following adverse findings in an October inspection. The company’s shares had fallen by 19% in intra-day trading on October 8, soon after the company disclosed that FDA inspectors had made seven […]
Ramco Cements, one of India’s biggest cement manufacturers, reported poor demand for cement during the three months ended December. The Chennai-based company, which gets most of its revenues from South India and Eastern India, reported a revenue growth of just 6% for the third quarter, compared to a growth of 12.6% for the first half […]
The US Food and Drug Administration has issued a Form 483 with five observations for Biocon’s API Manufacturing facility. Form 483 observations are issued when US FDA inspectors notice shortcomings in a company’s manufacturing processes, data storage and so on during an inspection. The company has to address the issues raised in the Form 483 […]
Bajaj Auto has just announced its grand entry into the retro-motorcycle market with a new partnership with 118-year-old British brand Triumph. The two companies will jointly develop and market retro-look motorcycles in the Indian market at prices less than Rs 2 lakh — the bread and butter segment for Royal Enfield and Jawa. Until about […]
Real estate developer Godrej Properties has opened booking for its first flats in RK Studio, the 2.2-acre film studio established over six decades ago by legendary actor Raj Kapoorj. The Vikhroli, Mumbai-based developer had purchased the studio property for an undisclosed amount in May this year and announced plans to put up 3.5 lakh square […]
The Bombay High Court did not grant any interim stay on the TRAI’s amendments to last year’s tariff order at the second day of hearing on the matter, making it even more likely that broadcasters will be forced to cut their channel prices soon. Instead of issuing a stay, the High Court has posted the […]
Zee Entertainment, the second-biggest broadcasting company in India, continued to bleed under the combined impact of a slowing economy and the company’s decision to increase channel prices under the new TRAI tariff order. While the slowdown in the economy has resulted in companies cutting down on advertising, this has been exacerbated by Zee’s decision to […]
Havells India, one of the country’s top cable makers, reported a 10% fall in its revenue, blaming an overall slowdown in economic activities in the country. The company, however, managed to maintain margins through cost cuts. “The deterioration in economic macros, sectoral liquidity challenges and slowdown in infrastructure segment has disproportionately impacted demand for industrial […]
Polycab, one of India’s biggest makers of electrical wires, reported an exceptionally strong set of results for the October-December period, despite widespread reports of a slowdown in the economy, including the construction sector. Polycab India Ltd reported revenue of Rs 2,507 cr from its operations, up from 2,242 cr in the preceding three months and […]
Alembic Pharmaceuticals, one of India’s biggest drug makers, received two observations from US FDA officials who inspected its plant at Karkhadi in Gujarat. Observations, given in Form 483, indicate that the inspectors were not fully satisfied with what they found during the visit. In a Form 483, the FDA typically outlines conditions or practices at […]
Users of Reliance Jio’s 4G service have started cutting down on their data and voice usage the company implemented price increases in December, thus limiting the benefits of the price hike from fully flowing through to the company. The average data consumed by a Reliance Jio user fell to 11.1 GB per month during October-December […]
Reliance Jio Fiber, the wired broadband service from Reliance Jio, crossed the 1 million subscriber mark in November, but the company’s pace of customer additions showed a sharp slowdown during the month. The company added 43,198 Jio Fiber customers during November 2019, taking the total to 1.02 million. With over 10 lakh fiber users, Jio […]
Hathway Datacom, one of India’s top cable feed providers (MSOs) finally posted a profit after remaining saddled with losses for several years. The company was able to post a profit due to various factors, including a sharp fall in pay channel costs thanks to TRAI’s new tariff order and a reduction in its cable TV […]
