Heavy equipment maker Bharat Heavy Electricals Limited said it won a Rs 4,400 cr order from the UP state electricity generation company to set up a 660 MW thermal power plant near Kanpur. The order has been placed on BHEL by Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL). Located at Panki in Kanpur district […]
Reliance Infrastructure said it has won a Rs 441 cr contract to create a new tunnel and 7 km of road on the Mumbai-Goa road, also known as NH-66. It will create a three by three lane twin tunnels of total length 3.44 km and highway with paved shoulders and viaducts for 7.2 Km. The […]
Jet Airways said it will offer discounts of 10-30% on its domestic and overseas flights for four days on the occassion of Easter. The sale started today and will run till April 2. The higher discounts of up to 30% are on international routes. Domestic flights will get up to 10-20% discounts, it said. The […]
The government of India has set up a “Committee on Phone Frauds” to deal rising instances of theft of money using phone calls and one time passwords. India has seen a sharp increase in the number of ‘phishing calls’ made on phones in recent years for several reasons, including new laws that require people to […]
Cox & Kings said it subsidiary MEININGER Hotels and investor LGIM Real Assets have signed an agreement for a new hotel in Glasgow. The hotel will be located on West George Street opposite Queen Street Train Station and will offer 160 rooms and 590 beds and is scheduled to open in 2020. This is the […]
Construction major Larsen & Tourbro said it has won a Rs 1,3960-cr contract from the West Bengal government to build a six-lane bridge across river Hooghly on the northern border of Calcutta. The bridge will built at Kalyani, which forms the northern most boundary of Kolkata metropolitan area. It will supplement the existing Iswar Gupta bridge, […]
Pharmaceutical manufacturer Biocon and its partner Mylan received marketing approval for their glargine insulin product Semglee in European Union and Australia, marking the first biosimilar approval for the partnership in Europe. Biosimilars are drugs that mimic or imitate the actions of natural proteins or enzymes in the body, such as insulin. Glargine insulin, which is […]
Two weeks after it announced a deal to supply forgings for six indigenous nuclear plants being set up by the Nuclear Power Corporation of India, construction major Larsen & Toubro reported yet another order related to same plants. This time, L&T’s order is to supply steam generators and shields for the Fatehabad plant. Interestingly, Bharat […]
Financial services firm Credit Suisse said sales of Jiophone, which had begun to lose steam after an initial surge, are now back on track due to the affordable Rs 49 plan launched by Reliance Jio. Jiophone, priced at Rs 1,500, is estimated to be selling at the rate of about 6 mln pieces per month, […]
ICICI Bank said it has priced the initial public offer of its broking arm ICICI Securities at Rs 520 per share. The offer for sale was open to subscription from March 22 to March 26 with a price band of Rs 519 to 520. At Rs 520, the IPO will raise Rs 3,515 cr, the […]
IndusInd Bank and Delhi Metro Rail Corporation (DMRC) launched a hybrid card that works both as a smart card for metro travelers as well as a debit and ATM card. IndusInd Bank customers can use the card as a Delhi Metro Smart Card in addition to all other regular debit card transactions, the bank said. […]
Industrial equipment maker Bharat Heavy Electricals Ltd said it won its biggest ever solar power plant contract to set up a 75 megawatt farm in Gujarat. The order from Gujarat Industries Power Company Limited (GIPCL) was won against “stiff competitive bidding,” the company said. BHEL has the lion’s share of the power equipment market in […]
Newly launched telecom operator Reliance Jio has overtaken market leader Bharti Airtel as the company with the largest telecom network in India. As of March 1, Reliance Jio had 4.48 lakh telecom base stations (towers) in India, compared to 4.31 lakh base stations for Bharti Airtel. At the same time, Idea Cellular had 2.79 lakh […]
The Information and Broadcasting ministry has responded to allegations that it caused needless expenditure by getting a private company to cover the opening and closing ceremonies of the International Film Festival of India in place of Doordarshan. It has been alleged by sources in Prasar Bharati that the ministry overlooked Doordarshan’s considerable expertise and experience […]
Power generation company JSW Energy Ltd said it has appointed auto industry veteran Sergio Luiz Pegoraro Rocha of Brazil to head its upcoming electric vehicle unit. In his previous stint, he was President, CEO and Chairman of GM Korea (General Motors, Korea), Uzbekistan and Vietnam operations based out of Seoul, South Korea. The power company […]
Tata Steel said it has been declared as the successful resolution applicant by the Committee of Creditors of Bhushan Steel Limited, laying the ground for one of the biggest acquisitions in India’s iron and steel sector. Tata Steel said it has has accepted the Letter of Intent for Bhushan Steel under the Corporate Insolvency Resolution […]
Mahindra Group and Ford Motor Company will jointly develop new SUVs, and a small electric vehicle as part of several initiatives announced today between the two companies. The two companies signed five new memoranda of understanding (MoU) that they said will further strengthen their strategic alliance and accelerate the development of key products for consumers […]
Information & Broadcasting Minister Smriti Irani today said her ministry has not released funds for the payment of salaries to the employees of India’s public broadcaster Prasar Bharati because the ministry and the organization have not been able to agree on a set of performance parameters for the broadcaster to achieve. Irani said the memorandum […]
Engineering services provider L&T Technology Services said it won a multi-million dollar project from Covestro, a Germany-based manufacturer of advanced polymer materials, to transform the company’s operations. The contract covers two major areas. First, L&T Technology Services will help Covestro migrate data as part of its larger digitalization program for its engineering, operations and maintenance […]
Anil Ambani-led Reliance Communications said it is confident of completing the sale of the assets related to its mobile network to Reliance Jio on time. The company’s statement was in the context of the Supreme Court refusing to give any urgent relief on the stay imposed on the asset sale by the National Company Law […]
