Maruti Suzuki reported better numbers as part of its January Auto Sales performance compared to recent months, with India sales declining only 7% compared to the same month of last year. This is comparatively better than its performance in recent months. In November, for example, its domestic passenger vehicle sales fell by a whopping 19% […]
Finance Minister Nirmala Sitharaman gave a relatively short speech in Parliament today detailing government of India’s spending plans for the next financial year. Here is the full text of the FM’s speech on Budget 2022. “At the outset, I want to take a moment to express my empathy for those who had to bear adverse […]
The government of India today said it will introduce a digital rupee — a central bank digital currency — in the year starting April 2022. The move was announced by finance minister Nirmala Sitharaman. With this, India has become one of the few countries in the world to announce a date for the introduction of […]
Tata Motors Ltd, India’s second largest passenger vehicle maker, has posted yet another record-breaking monthly sales number, selling a whopping 72,485 vehicles in January 2022. Unlike in the last 18 months or so, the growth in the first month of 2022 has come from both the commercial vehicle as well as the passenger vehicle business. […]
Kia India, the Korean carmaker and one of the fastest-growing, has started producing its three-row recreational vehicle Kia Carens in India, and said the car got 7,738 bookings in the first 24 hours. The car is being produced at Kia’s manufacturing facility in Anantapur, Andhra Pradesh. “The Kia Carens is the latest ‘Made-in-India’ offering from […]
Future Retail Ltd, the highly indebted general retailer caught up in a tussle between US-based retailer Amazon and its Indian rival Reliance Retail, said a request made by its independent directors seeking a loan of Rs 3,500 cr was of a preliminary nature. “The communication between Amazon and Independent Directors were of a very preliminary […]
Bharat Electronics Ltd, the government of India managed defence electronics manufacturer, said it has entered into a $73 million co-development and manufacturing deal with a US network consultant to manufacture and supply internet-of-things or IoT devices. The companies did not disclose the exact nature of the devices, but said the contract opens the door to […]
Even as the fight between sections of news channels restarts over the resumption of BARC television ratings, the Telecom Regulatory Authority of India has shot off a directive to cable and DTH operators to ensure that TV channels are listed only once, and only under one ‘genre’, on their set-top-boxes. The directive comes in the […]
With only days remaining for the entry of Hero MotoCorp into the electric scooter market, Hero Electric — run by relatives of the promoter family of Hero MotoCorp — have entered into a five-year agreement with Mahindra & Mahindra, a rival of Hero MotoCorp and one of India’s largest automakers. Under the contract, Mahindra & […]
Sales of residential real estate have bounced back to 90% of their pre-pandemic levels, said real estate consultant Anarock Property, adding that this has led to a sharp fall in unsold inventory. “Resultantly, the housing inventory overhang across the top 7 cities plunged to 32 months [less than three years] by 2021-end, closing in on […]
India’s Times Group, or BCCL, has made a partial return to the streaming TV platform run by India’s largest telecom operator, Jio TV, by restarting the transmission of its news channels via the app. It was in August 2020 that BCCL had pulled all its channels, including its English-language movie channels, from the Jio TV […]
Tata Consultancy Services, the country’s largest IT services company, today reiterated that it is committed to its 25-by-25 model according to which the company has set a goal of reducing office attendance for its employees by 75% by the year 2025. According to the model, which was unveiled soon after the COVID-19 pandemic forced the […]
Wipro said it was closing its offices for four weeks due the Omicron variant of COVID, and said it would add 30,000 fresh graduates in the year starting in April. “The safety of our employees remain our top most priority,” said CEO Thierry Delaporte. “With the rapidly spreading Omicron variant of the COVID-19 virus, we […]
DLF, one of India’s top real estate developers, said it has sold Rs 1,500 cr worth of luxury flats in ONE Midtown, its upcoming addition to the high-end Midtown township project being created west of Patel Nagar in Delhi. Midtown is designed as an ‘ecosystem of luxury residences, office and commercial spaces’ in ‘rolling acres […]
Vodafone Idea will issue around 16 bln shares to Government of India in lieu of interest payments arising out of its decision to defer the payment of spectrum and other regulatory fees by four years, thus making the government the biggest shareholder in the company. The move, subject to valuation confirmation by government agencies, will […]
Industries such as banking and financial services and insurance (BFSI), and production and manufacturing showed the highest growth in hiring activity in 2021, while media and construction segments showed the biggest declines, said Monster.com India in its annual trends analysis. The BFSI and the manufacturing sectors both saw hiring rise by 31%, while telecom witnessed […]
Kerala Police has started cracking down on the phenomenon of ‘couple swapping’ or ‘partner swapping’ — which has gained the status of an alternate lifestyle in the West — after a complaint from a married woman. Police said they have have arrested six people from the districts of Kottayam and nearby areas, without giving details. […]
A day after Titan Co, India’s largest gold retailer, reported a strong, 36% growth in its festival quarter revenue, rival Kalyan Jewellers said it witnessed an estimated 17% increase in sales during the same period. The company, which also has outlets in the Gulf region, said India revenue jumped 15% over the final quarter of […]
Jewelry and fashion accessory maker Titan Co said it saw a 36% growth in the last three months of 2021, boosted by strong festival demand. Jewelry Buoyancy in jewellery demand driven by festive purchases in October and November helped the division achieve significant Revenue uplift for the quarter, the company said. Revenue in this flagship […]
Reliance Industries has raised $4 bln (around Rs 30,000 cr) via the largest ever foreign currency bond issuance by an Indian entity. The amount will be used to retire the group’s existing debt. The bonds have been issued in 10-year, 30-year and 40-year maturities, and also mark the first time any BBB-rated Asian company outside […]
