PVR Cinemas, India’s largest cinema chain by far, has opened a mega, 12-screen luxury multiplex at Vegas Mall, Dwarka, Delhi. The property, termed as a company ‘flagship’, will take the total screens in Delhi to 62 from 50 and the total number of locations to 16. The Vegas Mall PVR contains one IMAX screen, one […]
Kishore Biyani owned Future Group announced that US-based private equity firm Blackstone will take a 6% stake in its fashion/garments unit, Future Lifestyle Fashions, by investing ₹1,750cr ($250 mln) into Ryka Commercial Ventures Pvt Ltd, the holding company of FLFL, and directly into FLFL. Blackstone joins other groups such as L Catterton, Premji Invest and […]
Vodafone Idea, one of the top three telecom players in the country, warned that it will be able to continue as ‘a going concern’ only if it is able to obtain relief from the government. Going concern refers to a company that has the ability to continue to operate and does not face the threat […]
Dish TV India, the country’s largest DTH network by number of subscribers, reported a 4.1% decline in its subscription revenue for the July-September quarter as the company showed signs of stabilizing from the twin impacts of a new system of TV channel pricing and a merger with Videocon D2h. Dish TV completed the merger with […]
Uddhav Thackeray, the head of political party Shiv Sena, confirmed today that his party has begun official talks with the Congress and the Nationalist Congress Party on forming a government in Maharashtra. The statement indicates that the Congress Party and the NCP have reached some kind of consensus on what to expect and demand from […]
Tata Motors’ UK unit Jaguar Land Rover reported a 5.5% decline in its October retail volumes, largely in line with the performance seen in recent months. However, the dip indicated a reversal from September, when it had posted largely flattish numbers and strong sales of 56,832 units. In October, the company has been able to […]
The All India Muslim Personal Law Board, one of the parties to the Babri Masjid case, has said that it is not satisfied with the outcome of the Ayodhya Babri Masjid title suit in the Supreme Court. A counsel for the Board said its executive committee will meet on Monday to decide whether to file […]
Royal Enfield, the country’s most popular premium motorcycle brand, reported a 22% decline in its September quarter motorcycle sales, even as revenue for parent Eicher Motors fell 9%. Royal Enfield sold 1.63 lakh motorcycles during the three months, down from 2.10 lakh motorcycles sold over the same period in 2018, even as it invests heavily […]
Recent changes in how television channels are priced and distributed have given an advantage to large broadcasting companies, helping them push out smaller and regional channels, India’s biggest association of news broadcasters warned. If left unchecked, the current trends would result in a loss of plurality and the establishment of monopolistic market in the country, […]
GATI, one of India’s largest parcel and logistics companies, reported a 6% decline in its operating revenue for the July-September period, and blamed an ‘abrupt slowdown’ in certain segments of e-commerce. The company was able to bring down expenses, including non-cash items, by only about 3.1%. As a result, the company also swung to a […]
Dabur India, the country’s largest maker of fast-moving consumer goods based on traditional recipes and systems, reported a sequential slowdown in sales for the September quarter due to tight financial conditions. On a year-on-year basis, the company was still able to report a 4% growth. The Domestic FMCG business reported an underlying volume growth of […]
Godrej Properties, one of the few real estate companies that have taken the market slowdown in its stride, reported better profits for the quarter ended September even as sales fell sharply. The company’s profit before tax zoomed to Rs 72.88 cr from Rs 3.56 cr for the same quarter last year, despite revenue from its […]
Cadila Healthcare, one of India’s biggest pharmaceutical companies, said it has received a ‘warning letter’ from the US Food and Drug Administration relating to its Moraiya formulations facility in Gujarat. The Moraiya facility is the company’s largest plant that makes tablets and injectables and is estimated to contribute about 40-50% of its U.S. exports. Shares […]
ECL Finance Ltd, the NBFC arm of Edelweiss Group, said investors can subscribe to its new series of debentures — a type of debt instrument — from Monday, Nov 4. The bonds will carry interest of 9.9%-10.41%, depending on the tenure. The base issue will comprise 10 lakh debentures of Rs 1,000 each, amounting to […]
State-owned telecom operator Mahanagar Telefone Nigam Ltd or MTNL has released details of the voluntary retirement scheme or VRS that will be available to its employees as part of its merger with BSNL. The company said the VRS has been based on the ‘Gujarat Model’. Under this model, employees will get a sum equal to […]
An average Airtel Digital customer spent 4.1% more money on their DTH service in July-September period compared to the previous three months, beating back the seasonal effect of the monsoons and indicating that customers may be gradually spending more on their cable and DTH bills. The monsoon season tends to see smaller recharges by prepaid […]
Reliance Retail, which runs chains such as Reliance Digital and Jio Store, said it will offer 15% cashback on its full range of electronic goods as a part of its Diwali sale. Electronic accessories, such as headphones, will also get an additional discount of 10%, taking the total benefit to 25%. The offers are available […]
Telecom services provider Bharti Airtel said it was launching a new ‘start-up accelerator’ program aimed at finding and investing in promising start-ups. The company said the first investment has been made in a blue-collar job-search software from Bengaluru based tech startup Vahan. The size of the investment was not revealed. “Founded in 2016 and backed […]
Even as the real estate market in the country faces uncertainties due to an overall slowdown in the economy, housing sales fell 17% in the top 7 cities of India in value terms during the Jul-Sep quarter, according to Anarock Consultants. Of the three quarters of 2019, Q3 saw the worst overall sales performance. The […]
Low-cost carrier SpiceJet announced four new daily flights connecting Kerala capital Thiruvananthapuram with Male and Chennai, and announced promotional fares on the routes. Under the promotional scheme, the 12:30 PM Thiruvananthapuram-Male flight is priced at Rs 5,539 and the return flight, starting at 2:45 PM, is priced at Rs 7,091. Similarly, the flight to Chennai, […]
