JSW Steel Ltd reported an 8% jump in its crude steel production for August to 14.48 lakh tons. Crude steel refers to the first state of produced steel, and can be processed by the company into other products or sold to third parties. In the month of August, output of long rolled products, such as […]
Low-cost carrier SpiceJet has become the first airline to start regular services to the hill state of Sikkim in North East India. In the absence of direct air connectivity to the State, tourists headed for Sikkim currently have to fly to Bagdogra and then take a road journey of over 100 km to reach Gangtok. […]
Jaguar Land Rover today reported total retail sales of 36,629 vehicles in August 2018, down 4.9% year on year, hit by a 38% fall in sales in China due to ongoing tariff war between the US and China. However, Chinese retail sales showed a slight improvement compared to last month, when they had fallen 47% […]
Ashok Leyland, one of India’s top two commercial vehicle makers, said it has set up an electric vehicle unit at its Ennore plant, giving the company the capacity to “deal with” about 5,000-10,000 electric vehicles per year. The move comes eight months after it signed an agreement with Israel-based Phinergy to explore the possibility of […]
The Supreme Court today directed the home secretaries of the states that have not filed compliance reports on anti-mob violence measures to personally appear before it after a week. Hearing a public interest litigation on rising cases of violence by cow vigilantes in July, the court had issued 12 guidelines for all state and the […]
Engineering outsourcing company L&T Technology Services said it has agreed to acquire 100% of Bangalore-based semiconductor services firm Graphene for an undisclosed amount. The all-cash transaction is expected to be complete by October, it said. Graphene Semiconductor Services Private Limited is one of the fastest growing companies in the Semiconductor Services domain with a presence […]
The upcoming new system of selling television channels in India will de-risk the business model of distribution companies such as cable and DTH providers, the country’s largest cable feed provider said. Starting in 2019, television channel operators will no longer be allowed to enter into ‘fixed payment’ deals with distribution providers like cable and DTH […]
The Thomas Cook (India) said it will prepay about Rs 67 cr of corporate bonds to make the standalone company debt-free by the end of this month. It said it will also pay off short-term debts using the proceeds of an offer for sale of its shares. This, said the travel and tourism company, will […]
Mahindra & Mahindra has unveiled its next SUV, the Marazzo, at a price that is considerably below what the market was expecting. While the ‘shark-inspired’ UV was supposed to be priced in the same range as the XUV500, the actual starting price is about 20% below that of the 500. Against Rs 12.6 lakhs for […]
Bharatiya Janata Party put up a stronger performance in city councils than in towns and villages in Karnataka local body elections. According to the results as of 11:35 AM, the BJP was leading in or had won 352 seats out of the total of 927 seats in 29 city councils for which elections were held. […]
Bajaj Auto, one of India’s biggest two- and three-wheeler makers, reported relatively strong auto sales numbers for August. Total sales came in at 4.37 lakh, up 30% over 3.35 lakh in August last year. Growth was led by exports, even as the floods in Kerala dampened domestic growth slightly. Total exports for the month was […]
IT outsourcing firm Wipro said it has won a $1.5-1.6 bln deal from US-based Alight Solutions LLC in what it called “Wipro’s largest win to date”. The Bangalore-based company also announced that it has acquired Alight HR Services India Private Ltd, presumably the India unit of the same company. Under the 10-year deal, Wipro will help overhaul […]
Vodafone India and Idea Cellular have completed the merger of their operations in India, creating India’s largest telecom network with over 3.4 lakh 3G and 4G cell sites. In comparison, Bharti Airtel has around 3.2 lakh wireless broadband cell sites and Reliance Jio has an estimated 2.5 lakh 4G base station. In terms of subscribers […]
ITI Ltd, the government of India concern formerly known as Indian Telephone Industries Ltd, said it has been handed over 6,945 cells sites by state-owned Bharat Sanchar Nigam Ltd or BSNL for management and marketing. “ITI has received an Advance Work Order from BSNL for the Operation and Maintenance and Sales & Marketing of the […]
Zydus Cadila said it received the final approval from the USFDA to market cholesterol-lowering Gemfibrozil and antipsychotic Aripiprazole in the US. Gemfibrozil Tablets are used together with diet to treat very high cholesterol and triglyceride levels in people with pancreatitis. It is also used to lower the risk of stroke, heart attack or other heart […]
Reliance Infrastructure Ltd said it has completed the sale of its Mumbai power business to Adani Transmission for Rs 18,800 cr. Out of the total amount, it has already got Rs 13,800 cr, and has used the amount to pay back its debt. It will get another Rs 5,000 cr next year. “Regulatory Assets under […]
Jet Airways, which is in the middle of implementing cost cutting measures, said it will introduce 28 new flights in the coming month. Among the new routes are daily flights from Indore, connecting the ‘largest city in Madhya Pradesh’ to Jodhpur as well as to Vadodara. It will also commence flight operations between Chandigarh and […]
The Supreme Court has directed that the five tribal- and worker-rights activists who were arrested by the Pune Police will be moved to their own houses, and not in police custody. The activists will remain in house arrest till the next hearing of the Supreme Court. “Dissent is the safety valve in a democracy. If […]
Vedanta Limited, which operates the country’s largest on-shore petroleum mining facility, said it has emerged as the favored bidder to explore 41 oil and gas blocks in India at a cost of US$551 million (Rs 3,900 cr) over the next six years, including 8 offshore blocks. It is eligible to mine and sell the petroleum […]
Parag Milk Foods said it has started targeting the North Indian market more effectively as it has operationalized its recently acquired Danone milk plant in Sonipat in Haryana. The plant was acquired in April. So far, the company had to rely on its Maharashtra milk plant to supply products to Delhi and other North Indian […]
