Dish TV, India’s largest direct-to-home satellite television service, said it will send out software upgrades to over 4 mln (40 lakh) of its users that will enable them to install apps to watch Internet content on their TV by December. “There are almost 4 million boxes that we have which we can convert into connected […]
Punjab National Bank, hit by a $2 billion scam, said the government of India has purchased around 63.82 cr shares in the bank. At the current market price of Rs 71 each, the shares are worth Rs 4,530 cr. With this, the government’s stake in the bank has risen to 71.92% from 66.09%. The transaction […]
GAIL India, the country’s largest pipeline operator, said it has placed an order worth Rs 1,100 cr to buy pipeline required to connect the North Eastern states to the ambitious Jagadishpur— Haldia—Bokaro-Dhamra project. The Jagadishpur—Haldia—Bokaro-Dhamra project runs through three states — Jharkhand, Odisha and West Bengal, and is meant to connect these eastern states to the […]
Hero MotoCorp Ltd., the world’s largest manufacturer of two-wheelers, said it will launch its XPulse series of 200cc premium motorcycles early next year. The company announced the second in the XPulse series, the XPulse 200T. While the original XPulse is an off-roader, the ‘T’ variant is built for longer rides and, according to the company, offers […]
Two weeks after announcing a Rs 3,500 cr order to build the Indian Navy’s communication network, Sterlite Technologies said it won a Rs 1,512 cr order to connect 4,045 panchayats in Maharashtra under the BharatNet project. The announcement comes close on the heels of GTPL Hathway and Polycab Wires announcing a Rs 1,246 cr order to connect 3,767 […]
Bharti Airtel said shareholders of Airtel Africa Ltd, which houses the Indian company’s operations in 14 African countries, have constituted a board of directors, including Bharti Airtel Chairman Sunil Mittal and his son Shravin Bharti Mittal. Others appointed to the board include both Airtel representatives as well as those of big private equity players who invested […]
Future Supply Chain Solutions Limited, the logistics arm of the biggest large-format retail chain in the country, continued to report strong growth on the top line and improving profits, but expenses too largely kept pace. The company’s revenue from operations grew by 34.4% on year to Rs 276.2 cr for the September quarter, an increase […]
TVS Motor Co, one of the world’s largest two-wheeler makers, reported a 26% jump in October sales, thanks in part to a festival season that came early this year. Sales, including exports and three-wheelers, jumped to 398,427 in October from 317,411 last year. This is a better performance compared to September, when overall sales had […]
Maruti Suzuki, India’s largest car maker, reported flat sales for October. Total sales, including exports, came in 1.47 lakhs versus 1.46 lakhs last year, rising just 0.2% on year. Domestic sales did slightly better than exports as they were up 1.5% at 1.38 lakh. Exports, on the other hand, fell 17% on year to 8,666 […]
Following the trend seen in other newspaper stocks, Jagran Prakashan — which publishes India’s largest circulated daily — reported a sharp decline in its profits for the second quarter. However, the company was able to better manage rising input costs compared to its rival DB Corp on a sequential basis. Like in case of DB […]
Shares of Take Solutions, a provider of contract solutions to the healthcare sector, were up 6% after the company reported a sharp increase in revenue due to rupee depreciation and profits jumped due to a tax write-back and a jump in non-operating income. Sales at the company jumped 10.3% on quarter to Rs 516 cr […]
India’s biggest billionaire and chairman of telecom operator Reliance Jio said today his company is rolling out fiber connectivity in 1,500 cities in India — an apparent uptick from the 1,100 cities announced four months ago. Pointing out that India is ranked at 134th in the global ranking for fixed broadband penetration, Ambani said Jio is determined to […]
Glenmark Pharmaceuticals said has got final approval from the United States Food & Drug Administration to launch generic version of Derma-Smoothe scalp oil of Hill Dermaceuticals. The drug is among the smaller ones by sales and had 12 month sales of just around $14.0 million in the US. With this, said Glenmark, its current portfolio […]
Bharti Airtel today denied a Bloomberg report that said that the company has delayed the IPO of its Africa unit. “We would like to categorically state that Airtel Africa IPO preparations are proceeding as per plan and there is no change in plans,” the Indian telco said in a statement. “[A] new board is in place […]
The much-awaited daily hearing of Ayodhya Ram Mandir hearing has been adjourned to at least January 2019, throwing cold water on hopes that the matter would be settled before elections in May next year. The adjournment was done by a bench headed by the chief justice of India Justice Ranjan Gogoi. “The honorable bench said […]
The Mumbai Metropolitan Region Development Authority has given a Rs 276-cr order to J Kumar Infraprojects to build an elevated road from the ending point of the Mulund-Airoli bridge to the Thane-Belapur highway. The elevated road would ease traffic for those going from areas near Mulund to Navi Mumbai. At present, motorists have to go […]
HT Media, which publishes English newspaper Hindustan Times and Hindi newspaper Hindustan, blamed poor advertiser sentiment for its second quarter results. The company’s July-September revenue had fallen by 6% even as costs rose, pushing it to a rare loss of Rs 19 cr before non-cash, non-operating items (operating profit or EBITDA). The company had seen […]
Pharmaceutical major Cipla said it has received US FDA approval to sell a generic version of heart drug Toprol by Aralez Pharmaceuticals. Toprol and its equivalents had US sales of approximately $464 million for the 12-month period ending Aug 2018, the company said. That puts it among mid-sized drugs by sales, versus the $100 mln market size […]
After years of uncertainty, Vedanta Resources received a 10-year extension for its lucrative Rajasthan oil block that it obtained with the Cairn India acquisition. “The tenure of the RJ Block PSC has been extended for an additional period of 10 years with effect from 15th May, 2020,” the mining major said. The block was originally […]
Brigade Enterprises, one of the top real estate players in Bangalore, announced its plans to set up Brigade Bricklane, a low-rise apartment project at Jakkur in North Bangalore. The flats will be priced at Rs 33 lakhs and above and will be constructed with lots of open space between each block. “The apartments have been […]
