The amount of money invested or committed by private equity firms in India reached an all time high in the first nine months of this year, said Venture Intelligence, a research firm tracking unlisted company financials, transactions and valuations. PE firms invested about $17.6 billion in Indian companies as of September, overtaking the previous record […]
Bank of Baroda, one of the largest banks in India, has slashed the base rate and benchmark prime lending rates in keeping with the decline in inflation and loan demand. The company slashed the base rate to 9.15% from 9.5% with effect from Oct 1. Base rate is the minimum rate set by the Reserve […]
The ongoing rollout of Bharat QR and other mobile payment systems could result in some pain for banks as it could make it harder for their card or PoS business to become profitable. According to an estimate by the State Bank of India, card swipe transactions cost significantly more than Bharat QR and mobile transactions, […]
A day after Reliance Industries said it would not comment on media speculation about acquisition talks with Den Networks, the cable company has issued a largely identically worded statement. However, the statement seemed to indicate the possibility of a tie-up or agreement rather than an outright sale of the company. “The company, as a running […]
Mumbai-based Godrej Properties Limited said it will co-develop a residential project in Sarjapur in Bangalore in association with Manyata, a local developer. It signed a Development Management Agreement with Manyata Developers Private Limited to develop a group housing project in the East Bangalore locality. Development Management Agreements are usually signed when the owner of the […]
Videocon Wallcam has launched a CCTV solution with bundled 4G connectivity in association with Vodafone. It unveiled a 4G-enabled vehicle surveillance kit and stand-alone outdoor and indoor CCTV cameras, both with a 4G sim slot to support 4G connectivity. This ensures that the camera can be placed anywhere with 4G connectivity and only the power […]
Piramal Finance Limited (PFL) has entered the retail housing finance business. It is part of $1.3 bln Piramal Enterprises, one of India’s large diversified companies, with presence in pharmaceuticals, and financial services. The housing finance venture has been floated through a wholly owned subsidiary, Piramal Housing Finance Private Limited. It will offer home loans as […]
Pharma giant Glenmark Pharmaceuticals said it received final approval to sell skin oinment Desonide Lotion in the US. The ointment has annual sales of approximately $23.2 million. The medicine is used to treat eczema, dermatitis, allergies, rashes etc. Desonide reduces the swelling, itching and redness that can occur in these types of conditions. The United […]
Motilal Oswal Real Estate (MORE), the real estate arm of Motilal Oswal Private Equity said it raised Rs 1,030 cr under its India Realty Excellence Fund III. The strong inflow suggests continued investor appetite for investments into companies dealing in this sector despite a slowdown. MORE till date has invested capital in the real estate […]
Tata Consultancy Services said it won a 15-year deal from Scottish Widows insurance company to provide end-to-end policy administration services for its 4 million heritage customers. The deal from the Lloyds Banking Group’s Life and Pensions unit was won by TCS’s UK subsidiary Diligenta, which provides outsourcing services to the insurance industry. “Diligenta will provide […]
Hindustan Unilever, the country’s largest consumer company that owns daily brands such as Rin, Wheel, Kissan and Surf, said the roll-out of the goods and services tax caused some confusion among retailers and distributors. “Early part of SQ’17 (July-September 2017) was affected by various myths in trade,” the company said at Arisaig Consumer Symposium today. […]
IT services provider Infosys said it now offers a private cloud solution built using SUSE Linux and Openstack. The solution will make use of Openstack cloud and datacenter solutions developed by Germany-based Micro Focus SUSE. Infosys and Micro Focus SUSE have jointly invested in a center of excellence to develop validated reference architectures, accelerators and […]
Pharmaceuticals and specialty chemicals maker Vivimed Labs said investment firm OrbiMed will invest $42.5 mn (Rs 270 cr) into its active pharmaceutical ingredients business. The investment will be into Vivimed Labs Mascarene Ltd, which is in turn the holding entity of the company’s API business, UQUlFA. The proceeds of this fund raise will be utilised […]
Capital equipment maker Siemens today said it has transferred its lease for its Worli building to a joint venture K. Raheja Corp Group and GIC, Singapore for a consideration of Rs 610 cr. The deal was originally announced in December and is one of the biggest land deals in India in recent times. The property, […]
Thomas Cook, the travel services company, said it had purchased the forex business of Tata Capital, Tata Capital Forex, in its entirety. “We would like to inform you that the Board of Directors of the Company at their Meeting held on 25th September, 2017, approved the acquisition and signing of a definitive agreement with TATA […]
India’s oldest English television news broadcaster NDTV officially denied that it has been sold to Ajay Singh, the promoter of SpiceJet. “We wish to inform you that the promoters of the Company have not entered into any agreement for sale of their stake in the Company to any person,” NDTV Ltd said in an official […]
The National Stock Exchange has again sought a clarification from NDTV after the Indian Express reported that SpiceJet promoter Ajay Singh was now the biggest shareholder in the media company. UPDATE: NDTV has denied the rumors. According to the newspaper, Singh has acquired a 60% stake in the media company, restricting existing promoters led by […]
Google was forced to enter the smartphone hardware business as makers of Android smartphones have largely failed to develop a product that can compete against the iPhone, an industry expert said, adding that the result of union could rival what Apple has to offer. “With tighter control on Pixel, Google will now focus on making […]
InterGlobe Aviation, the company that operates the country’s largest airline Indigo said the company would raise Rs 2,530 cr by issuing fresh shares. At the same time, existing shareholders of the company would raise Rs 1,265 cr by selling some of their shares as well, the company said. The total size of the offering would […]
Balaji Telefilms will make its digital content available Vodafone’s Play multimedia app, the telecom operator said. Nachiket Pantvaidya, CEO – ALTBalaji said the aim of his company was to make the content more widely available. “Our content caters to the Indian language, urban mass audience and is targeted at the 18-35 years demographic. The early […]
