Godrej Properties, the Mumbai-based real estate developer, continued to strike deals with other players to develop their land parcels. The company announced three new projects, including two in Bangalore and one in NOIDA near Delhi. The Bangalore projects are in Devanahalli in the north and in Electronics City in the south, and both involve Godrej […]
Parts of North India experienced an earthquake at around 12:06 pm today. Reports indicated that the region from Jammu & Kashmir to Delhi felt the tremors. Other areas that felt the tremors are Chandigarh and Punjab. There are also reports that people in Pakistan, Uzbekistan and Afghanistan also felt the impact of the earthquake. “It […]
Enterprises using Tata Communications as their connectivity provider will now be able to send their traffic to Oracle cloud services privately without using the Internet. This is possible after the Indian network provider added support for Oracle’s FastConnect feature. FastConnect was earlier universally available only if you used connectivity from players like AT&T, British Telecom […]
HCL Technologies (HCL) said Germany-based enterprise software giant SAP has agreed to include, and resell, an ‘add on’ that it developed for aviation-related clients as part of a broader solution. The add-on will help clients streamline their ‘maintenance, repair and overhaul’ operations when using SAP’s enterprise asset management or EAM solution. EAM software is used […]
Two- and three-wheeler maker TVS Motor Company reported strong top line growth for the Oct-Dec quarter riding on robust sales of its two-wheelers, but net profit growth failed to keep up due to higher taxes. The company’s third quarter revenue increased 23.5% on year to Rs 3684.95 crores, while net profit rose 16.3% to Rs […]
Cochin Shipyard Limited said it has signed an agreement to construct 16 Tuna Long Lining & Gillnetting fishing vessels for fishermen in the Palk strait between India and Sri Lanka, making its entry into the fishing boat segment. The 22-meter long boats are being built to try to upgrade fishermen from the damaging practice of […]
Kotak Institutional Equities has withdrawn its rating on Bharti Airtel, expressing concern about what exactly new entrant Reliance Jio is trying to achieve in the market with its relentless price cuts. “What does Jio want,” asked analyst Rohit Chordia in his note withdrawing his rating on Bharti Airtel. “Even as the company’s actions thus far […]
Reliance Infrastructure, the construction arm of the Anil Ambani Group, said it received a Rs 882 cr order for six-laning a 70 km stretch on National Highway 2 in Bihar. “The scope of work includes design, engineering, procurement and construction of six-lane highway and associated bridges with paved shoulders,” said the company, which received a […]
Reliance Jio, which generates about 70% of India’s mobile Internet traffic, is likely to introduce four data top-up packs today, according to a company source. The company will introduce recharges in four denominations — Rs 11, 21, 51 and 101, which prices data at between Rs 16.83 per GB and Rs 28.16 per GB. The […]
Cipla and Strides Shasun, two Indian pharmaceutical companies, both said they have started shipping generic versions of Gilead Sciences’ HIV drug Viread after patent protection expired last week. Viread is among the bigger pharmaceutical drugs in the US and has sales of around $725 mln (Rs 4,650 cr) in the US every year. The patent […]
Majesco, the India-based provider of IT solutions to the insurance industry, said its subsidiary has been sued by a customer in the US for $10 mln (Rs 64 cr). In a filing on Sunday, Jan 28, the company said that on Jan 24, its subsidiary Majesco Software and Solutions Inc received a summons with notice […]
Sun Direct, the DTH arm of Sun TV, has set the ball rolling on a massive expansion of its offerings that is expected to see 20 new HD and 100 new standard definition channels added to the platform in the next few days. At present, the service has the least number of channels among paid […]
Reliance Jio Infocomm said it will provide unlimited free calls and 1 GB of data per day for just Rs 49 per month. It also restarted taking bookings for Jiophone. “This Republic Day will mark the launch of yet another unprecedented plan exclusively for JioPhone users that will ensure affordable services for every Indian. JioPhone […]
India’s largest carmaker Maruti Suzuki reported a 14% increase in net sales for the third quarter, but net profit increased by only 3% due to a rise in tax expenses and investment losses. Operating profit rose 22% on year. Higher “tax rates and lower non-operating income due to mark-to-market impact on the invested surplus” were […]
Balaji Telefilms, the television content producer header by Ekta Kapoor, said it has decided to make its digital content available on various content applications of Reliance Jio. So far, the most of the content was exclusive to Balaji Telefilm’s own app, ALTBalaji, which also competes with Jio’s apps. According to Google’s Play Store, the Android […]
Public sector banks would need to divert an estimated Rs 63,000 cr, or about 41% of the total money that the government has promised, to meet increased provisioning requirements for loans under the new Ind-AS accounting standard, India Ratings said, adding that this would ‘knock down’ their growth aspirations and hurt market share. Provisioning refers […]
IT services provider Wipro said it will invest $9.9 million (Rs 63 cr) in marketing consultant Harte Hanks and will jointly offer end-to-end marketing technology services to customers. Harte Hanks specializes in omni-channel marketing solutions including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. “Wipro’s investment in Harte Hanks […]
Idea Cellular CEO Himanshu Kapania sounded a note of caution and urged Bharti Airtel and Reliance Jio to stop trying to beat each other by cutting prices. “We don’t want to participate in the present level of price drops,” Kapania said, in the context of the company’s quarterly results. “We are hoping that the volatility […]
Shriram Transport Finance Company said it has decided to sell a majority stake in its vehicle auction company Shriram Automall to Cartrade.com to create what it called India’s leading used vehicle platform. CarTrade, owned by MXC Solutions India, will acquire majority stake in Shriram Automall India Limited (SAMIL), India’s offline auction platform for pre-owned vehicles […]
Telecom operator Bharti Airtel said it received the approval of the Rwanda Utilities Regulatory Authority for its acquisition of Tigo Rwanda Limited, a subsidiary of Millicom International Cellular S.A. The deal was announced a month ago. “The merged entity will have the largest customer base in Rwanda with 5.9 million subscribers,” it said. It will […]
