Bharti Airtel CEO Gopal Vittal said he has seen “some bottoming out” of the company’s revenue trends during the Jan-Mar quarter of 2018, but that it was too early to call the bottom as far as average revenue per user is concerned. Bottoming out refers to the process of hitting the lowest point in a […]
Bharti Airtel CEO Gopal Vittal said his company’s DTH service, Airtel Digital, will continue adding new HD channels and was not facing any capacity constraints in this regard. Addressing investor queries after the company’s quarterly results announcement, Vittal said Airtel Digital has around 75 HD channels as of now. “We will be beefing up HD […]
Anil Ambani today praised his son Anmol Ambani for bringing about a “cultural change” in his business group, and said the 26-year-old has been added to the director boards of two more of his group companies. Anmol Ambani will join the director boards of Reliance Nippon Life Asset Management and Reliance Home Finance. It was […]
Asaram Bapu, the religious leader popular in many parts of North India, has been held guilty of assaulting a 16-year-old girl at his ashram near Jodhpur earlier that year and was later sent to the Jodhpur Central Jail. The verdict was pronounced by the Scheduled Caste and Scheduled Tribe court in Jodhpur, Rajasthan. “We haven’t […]
Malaysia’s IHH Healthcare has come out with a binding offer to invest Rs 650 cr in Fortis Healthcare, and follow it up with Rs 3,350 cr after conducting three weeks of due diligence on the company’s account books. The move competes with offers such as the Rs 1,500 cr offer from the combined team of […]
Jiophone sales are rising fast and could start affecting the growth rates of rival telecom companies once the churn effect of fleeing Aircel subscribers gets over, analysts from financial services firm Credit Suisse said. Analysts Sunil Tirumala and Viral Shah said trends indicated that the Jiophone is contributing about 7 mln out of the 8-9 […]
The United States Food & Drugs Administration has closed its audit of the UK manufacturing plant of Dr Reddy’s Laboratories, the Indian pharmaceutical company said. In September last year, the company had announced that the US FDA issued a Form 483 with three observations regarding operations at the pharmaceutical drug manufacturing plant at Mirfield, leading […]
Bharti Infratel, the telecom tower company from the Bharti group, reported a modest 4% growth in sales and 2% improvement in net profit due to a loss of tenancies as well as increasing fuel costs. The company’s revenue rose 4.2% on year to Rs 1,673 cr in the fourth quarter, which, however represented a decline […]
Pharma major Lupin said it received final approval for to launch a generic version of Valeant Pharmaceuticals’ Xenazine in the US. Tetrabenazine Tablets, 12.5 mg and 25 mg, has annual sales of approximately USD 288.1 million in the US, according to IQVIA. The tablet is indicated for the treatment of chorea, or involuntary movements associated […]
Reliance Industries said it was not aware of any inquiry into the funds received by entities connected with it or its promoters from Singapore-based Biometrix Marketing. It also said, as far as it was aware, that the Income Tax Appellate Tribunal “was satisfied with the source of funds”. The clarifications came after report by the […]
Water pipe manufacturer and construction company Indian Hume Pipe Co said it has won a Rs 578.50 cr order from the Madhya Pradesh government. The order was from Madhya Pradesh Jal Nigam Maryadit for Kundaliya Multi Village Rural water supply scheme in Rajgarh district, it added. This is the second major order the company reported […]
Hospital chain Fortis Healthcare said it has set up a special committee to evaluate the bids submitted by various parties to invest money into the company. It said the company has received binding offers from the Manipal – TPG consortium and the Munjal & Burman family offices, while non-binding expressions of interest has been received […]
Anil Ambani Group’s Reliance Infrastructure Limited said it received a Rs 774 cr contract to build 105 km of railway track, including 13 railway stations and staff quarters. The order from Rail Vikas Nigam Limited is the first from the firm to be awarded to the Anil Ambani company. The scope of work includes Civil, […]
Parag Milk Foods Ltd said it purchased the manufacturing plant of French dairy giant Danone in Sonipat near Delhi. The Mumbai-based company has so far been supplying the North Indian market from its factory in Maharashtra. The plant’s current milk processing capacity is 0.75 LLPD (Lakh Litre Per Day) along with curd processing capacity of […]
Cement maker UltraTech said it has commissioned a greenfield clinker capacity of 2.5 million tons per year at Manawar in Madhya Pradesh. Clinker is raw cement made by heating ground limestone and clay at a temperature of about 1400 °C – 1500 °C. Cement is made by grinding the clinker and adding gypsum to control […]
Cement maker ACC reported a 14% increase in its sales for the March quarter, boosted by an 8% increase in cement volumes and a 16% jump in ready mix volumes. Lifted by the top line growth, margins improved across the board, lifting net profit by 18.5% to Rs 250 cr for the Jan-Mar period. Sales […]
Pharmaceuticals maker Zydus Cadila said it received the final approval from the USFDA to market inflammation solution Diclofenac Sodium in the country. Diclofenac Sodium topical solution, 1.5%, is a non-steroidal anti-inflammatory drug (NSAID) used for symptomatic treatment of osteoarthritis of the knee. It will be manufactured at the group’s Topical manufacturing facility at Ahmedabad, the […]
Embattled hospital chain Fortis Healthcare said it received an improved combined offer from the Munjals of Hero MotoCorp and the Burmans of Dabur Ltd. Under the revised terms, the investors are willing to invest Rs 1,500 cr, against the Rs 1,250 cr promised earlier. The upfront investment has been increased to Rs 750 crores, while […]
Hero MotoCorp has launched online shop for consumers to buy genuine parts and accessories for their Hero scooters and motorbikes. The portal, www.hgpmart.com, will be run by the company directly. However, it will tap close to 100 distributors in a ‘hub and spoke’ model for fulfillment. Consumers can buy any part by following a step-by-step […]
Bajaj Auto has launched a new twin-brake variant of Pulsar 150, arguably the highest-selling ‘sports motorcycle’ in the country. Much of the emphasis is in a sharper and sportier styling, along with the twin disc brake option. This will be in addition to the existing single disc variant and will be priced at ₹78,016, ex […]
