Bank of Baroda said its board of directors had approved the raising of up to Rs 1,000 cr by selling perpetual bonds. The bonds would be sold via private placement, i.e. without a public auction or book building. The timing and other details will be determined by market conditions, the Gujarat-based bank said. Bank of […]
Hindustan Aeronautics Ltd, India’s biggest manufacturer of aeroplanes and related equipment, has submitted a detailed project report for setting up an aerospace university in the country, the government said. The university will be called ‘HAL Aerospace University’, the civil aviation ministry said in response to a query. The university, to be set up at a […]
Reliance Communications, the telecom arm of Anil Ambani Group, has unveiled what is probably India’s cheapest 3G data plan. The company said its subscribers will get 0.5 GB of data every day for 28 days if they recharge with Rs 99. If they are in a non-3G circle, they can recharge with Rs 49 to […]
Air India, India’s national carrier, has grounded 30 women and 4 men among its cabin crew for being overweight, the civil aviation ministry said in reply to a query. The grounded crew, however, comprises only 1% its total cabin crew strength of 3,490. Air India said it grounds its cabin staff when they exceed 27 […]
PayTM, India’s biggest mobile payment company and a minority subsidiary of Alibaba Group, said it partnered with Indian Institute of Technology Kanpur to bring its cashless payment solution to the country’s premier engineering college. Under the program, students will be able to make payments using the mobile app at hostel canteens, medical store, tea stalls, […]
Home minister Rajnath Singh said the National Investigation Agency will probe the busting of a terror module in Lucknow, reportedly inspired by ISIS. Briefing the Parliament, the minister also praised the father of Saifullah, the suspected militant who was killed in an encounter yesterday. Singh said the busting of the terror module was the best […]
An umbrella group of anti-corruption groups will conduct a ‘Ghotala Yatra’ or ‘Scam Procession’ at Delhi’s Mandi House area tomorrow. The rally, with the cry ‘freedom from corruption’ will start at 11 AM and be followed by a sitting protest at Jantar Mantar — the traditional venue for protests in the capital. Among the organizations […]
Mahanagar Telephone Nigam Ltd, the state-owned telecommunications operator in the metro areas of Delhi and Mumbai, said it was not aware of any ‘restarting’ of talks related to its merger with Bharat Sanchar Nigam Ltd, the pan-India telecom operator owned by the public. “We are not aware of any such news. As and when any such […]
The recent strength in India’s key stock market indices indicates that market participants are pricing in a victory for the Bharatiya Janata Party in Uttar Pradesh, according to an stock market analyst. India’s largest state has been busy electing its next legislative assembly for almost a month. The first phase of elections in the state […]
Tata Motors reported its best ever sales performance for its UK unit for the month of February in 2017, with total retail sales up 9.3% on year for the month. Jaguar Land Rover, one of the world’s top manufacturers of luxury vehicles, sold of 40,978 vehicles in the month, the Indian company said. The jump […]
The regulator’s new rules on the pricing of television channels in India, which will come into effect in six months, will reduce the clout of big broadcasting companies such as Zee Entertainment Enterprises, Sony, Star India and Sun TV, while encouraging smaller media owners. So far, bigger groups enjoyed a key advantage — they could […]
PVR Ltd, India’s largest chain of film exhibition halls, said it had entered its 49th city with the opening of a new multiplex in Moradabad. The three-screen, 631-seat facility was opened inside the newly opened Parsvnath Mall. The facility marks the 11th city in Uttar Pradesh that is home to a PVR complex. With this, […]
Aam Aadmi Party leader Arvind Kejriwal took to his account to protest the deletion of several AAP accounts after the social media company changed its anti-abuse algorithm. Three days ago, Twitter had said that it was putting in more safeguards against abuse and manipulation on its platform — a very widespread complaint. “This week we’re […]
Reliance Jio, the telecom operator from Reliance Industries, made a presentation before investors in Mumbai yesterday in which it claimed that it has a headstart of 3-4 years in its core network roll-out compared to rivals and sought to allay concerns on its pricing strategy. The company, which hosted an investor meet in Mumbai yesterday, […]
Vodafone, India’s second largest telecom operator by revenue, has more or less matched newcomer Reliance Jio’s aggressive tariff plan by offering 1 GB per day for one month at Rs 346, in addiition to unlimited voice calling. The plan is almost exactly similar to what Reliance Jio last week, though the pricing — at Rs 346 […]
The central Indian state of Chhattisgarh has come out as a leader in India’s quest to take electricity to remote villages where grid-based power cannot be supplied due to economical reasons. The state accounts for 550 of the 852 ‘decentralized distributed generation’ schemes set up with central assistance so far, according to data sourced from […]
Patanjali Ayurved, the consumer products company headed by yoga exponent Baba Ramdev, has scaled up its agreement with Ruchi Soya, which has been facing financial stress due to high debt levels. Ruchi Soya said the two companies have agreed to expand their initial agreement — signed last month — to two Madhya Pradesh and Gujarat […]
ABB, one of the world’s biggest manufacturers of large electrical equipment, said it crossed the 4.5 GW milestone in terms of sales of wind power generators in India, and that the country is likely to add 4 GW of capacity this year. India has a target of having 60 Gigawatt of wind-power capacity and 220 […]
A large chunk of under-development coal-based power units have their construction stalled due to the paucity of funds, according to numbers obtained from the power ministry. In total, projects that have a design capacity of 18,420 megawatt, or 18.42 gigawatt, are classified as ‘stalled’ due to financial reasons, the ministry said. This is equivalent to […]
Private equity and venture capital firms are largely bullish on India in the context of big economic reforms, but are awaiting the results of the ongoing Uttar Pradesh elections to assess the level of popular support that such policies enjoy, according to a survey by VCCircle. VCCircle, which tracks private investment activity in India, said […]
