Reliance Communications today said that it was ‘optimizing’ its 2G and 3G networks in the light of its decision to focus on 4G, but also dropped a hint it may use the towers and infrastructure to later launch its own, fully-owned 4G network. At present, it depends on Reliance Jio for delivering 4G services and […]
Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]
Pharma Major Lupin said it received final approval from the United States Food and Drug Administration (FDA) to market a generic version of Concordia Pharmaceuticals Inc.’s ADHD drug Kapvay. It had annual sales of approximately USD 66 million in the US. Clonidine Hydrochloride, the AB rated generic equivalent, is used for the treatment of attention […]
Vodafone India unveiled a new pack priced at around Rs 69 that allows users to make unlimited calls for one week at just Rs 69. The scheme is among the most affordable voice plans in India for GSM users. The total cost works out to about Rs 250 per month. Unlike other schemes that are […]
Larsen & Toubro said its construction arm won orders worth Rs 3,551 crores. The first is a Rs 1,123 crore order from the government. The contract is for design and construction of smart trunk infrastructure with roads, storm water drains, water supply network, sewerage network, utility ducts for power and telecom, reuse water line, pedestrian […]
IT company Wipro Ltd said it increased its stake Drivestream, which focuses on implementing Oracle’s cloud solutions, to 43.7% from 26.1% by investing around Rs 26 cr. Wipro had first invested in the company about four months ago, and seems to have liked what it saw. It made the latest investment by converting some of […]
Asian Paints reported a 13.7% increase in its revenue for July-September quarter, and said net profit from continuing operations rose 7.5%. “The Decorative business in India registered high single digit volume growth in the current quarter,” said K.B.S. Anand, Managing Director & CEO of the company. “Hence there was a recovery from Q1 which was […]
In a first for the country, pet animals in urban areas of Punjab will be taxed at the rate of Rs 250-500 per head, television channel AajTak reported. UPDATE: The Punjab government has denied the AajTak report and said it had no plans to tax animals or pets. Hindustan Times reported that the government backed […]
GAIL India Ltd said it has started supplying piped natural gas to the city of Bhubaneswar in Odisha. The first phase has started with 255 houses in NALCO Nagar, and will soon be extended to nearby Jeevan Bima Colony and Maitri Vihar Colony covering a total of 1,000 houses, it said. It also said it […]
Cloud-based enterprise software provider Ramco Systems said it won a multi-million dollar order from a big British MNC financial group to provide managed payroll services. Ramco will help the company, part of the FTSE 100 index, to consolidate its payroll operations in 14 countries on a unified platform. It will cover 8500+ employees across Asia […]
Reliance Communication Ltd said it received the approval of Department of Telecommunication (DoT) for its merger with Sistema Shyam Teleservices Limited or SSTL, which runs MTS branded services in India. With this, the Anil Ambani Group company has received all the major regulatory approvals for the merger. The closure of the transaction is expected by […]
State-owned Bharat Sanchar Nigam Ltd said it would offer one month of its wired services — DSL, landline or fiber — free if the booking is made via Twitter or Facebook. The user will have to pay security deposits and installation charges, if any. However, he or she will get a month’s worth of services […]
Wallet app provider MobiKwik announced a tie-up with IndusInd under which it has launched an app exclusively for the bank’s 10 mln customers. The move is in line with the app company’s strategy to be a partner and solutions provider to traditional financial services companies such as banks, instead of recreating the whole banking infrastructure […]
Wallet players like Paytm, Mobikwik, PhonePe and AmazonPay have come up with cash back offers for Reliance Jio users who want to take advantage of the Rs 399 recharge scheme valid till today midnight. Last week, India’s largest wireless Internet provider said anyone recharging with Rs 399 to get 84 days of ‘free’ usage, will […]
Maruti Suzuki said it sold 1 lakh units of the 2017 Dzire sedan in just five-and-a-half months after it was released, making it the first car ever to do so. Dzire, built over the Swift platform, was initially targeted at those who wanted a roomy sedan with a dicky instead of the stylish hatchback that […]
Life Insurance Corporation of India, the single biggest shareholder in many listed companies in India, has withdrawn its insolvency case against DB Realty Ltd, the real estate developer said. The two companies have executed a debt settlement agreement on Oct 16, DB Realty said. With this, the case against the developer has been withdrawn and […]
Mahindra Finance said global insurance major XL Group will take a 20% stake in its subsidiary Mahindra Insurance Brokers Ltd, including the 15% currently held by LeapFrog Financial Inclusion Fund. “XL Group will help support MIBL’s endeavours to increase insurance awareness and penetration in underpenetrated markets and across under-served customers in rural India,” the group […]
Bharti Airtel said it is merging its operations in the African nation of Ghana with the local unit of Millicom International Cellular. “Under the joint agreement, Airtel and Millicom will have equal ownership (50:50) and governance rights in the combined entity, which will have revenues of approximately USD 300 million,” the companies said. Both Airtel […]
The results of the bypoll held in Vengara assembly constituency in Kerala have confirmed the Congress-led UDF’s worries about losing support in the southern state. The results also showed that the BJP suffered a decline in popularity in Kerala in the last 18 months or so. The election, which comes a year-and-a-half after the last […]
Net bank deposits by non-resident Indians have fallen by nearly 90% so far this financial year as more and more foreign workers dipped into their bank accounts in the face of a crisis in the Gulf region, industry association ASSOCHAM said. Net bank deposits — the difference between total deposits and not withdrawals — came […]
