Prakash Industries said it will spin off its plastics business and enter the ‘flexible plastic packaging’ segment, a move that would see it competing with the likes of Uflex. The company said the new business will focus on high performance barrier films and laminates for use in packaging food, beverages, oil, personal care and pharmaceutical […]
Under an onslaught of cheap wireless internet devices from Reliance Jio, Indian brands such as iBall, Intex and Micromax have virtually exited the data dongle market, while the once dominant Huawei has been reduced to a 7% share, according to CMR. For the whole of 2017, all the top five models of datacards belonged to […]
Xiaomi, the Chinese brand, sold 2 smartphones for every smartphone sold by Samsung in Maharashtra — one of the most urbanized states in India, according to market research firm CMR. The numbers are a cause for worry for Samsung as they indicate that Xiaomi could continue to ramp up its presence in the country as […]
Fortis Healthcare, which is under the scanner of the Serious Fraud Investigation Office, said one of its independent directors, Joji Gill, stepped down due to ‘personal reasons’. “Ms Joji Sekhon Gill has tendered her resignation from the directorship of the company with effect from March 7 due to personal reasons, primarily attributed to her occupation […]
Jet Airways said it will challenge the order of the Competition Commission of India to impose a fine of Rs 39.81 cr for allegedly colluding with its rivals to fix air fares. In a statement on Wednesday, the Competition Commission said Jet Airways, SpiceJet and IndiGo engaged in “concerted action in fixing and revising Fuel […]
Prestige Estates, arguably the biggest developer of office buildings in Bangalore, said it will pay Rs 336 cr to get 80% of a company that owns 59 acres of land on Outer Ring Road at Sarjapur in Bangalore. “The company intends to develop a state of the art commercial office space with over 6 mln […]
Even as Airtel Digital and Star India are trying to scuttle a new TRAI law aimed at unraveling TV channel bundles, the DTH operator has removed all Star channels from its various bundles and packages due to a disagreement over pricing. UPDATE: Star is now threatening to stop providing the signals altogether. https://ultra.news/s-e/38740/star-india-threatens-airtel-digital-with-complete-disconnection-of-channels As of […]
Hero MotoCorp said it has launched the 2018 version of its extremely successful commuter bike Super Splendor. The bike will continue to be powered by a 125cc engine. However, it more powerful compared to the outgoing version as it has a peak output power of 8.4 kW or 11 PS (horsepower) at 7,500 rotations per […]
The government of India “has developed” a plan to improve Internet connectivity in Lakshadweep Islands, communications minister Manoj Sinha said today. Lakshadweep Islands, home to about 70,000 people, are currently connected by satellite, which restricts the bandwidth and increases the cost of connectivity. The move follows the approval given to a Rs 1,100 cr project […]
The Telecom Commission, the top bureaucratic decision making body within the communications ministry, has approved a Rs 7,330 cr project to set up an additional 4,072 mobile towers in left-wing extremism affected areas, telecom minister Manoj Sinha said today. The project will be a follow-up the first phase, when BSNL set up 2,329 towers in […]
Preparations for the commencement of operations of India Post Payments Bank, scheduled for next month, is in the final stages, communications minister Manoj Sinha said, adding that one branch will be opened nearly all districts of India. “The preparatory works for roll out of 650 branches including the civil, electrical, branding and furniture are in […]
TVS Motor Co announced a new variant of its 200cc Apache RTR motorbike with special ‘race derived’ clutch technology that makes it easier to shift gears. The new model costs about Rs 1,600 extra. “The ‘A-RT Slipper Clutch’ technology, accentuates the motorcycle’s performance, with 22% reduction in clutch force for quicker upshifts, enabling the rider […]
Jaguar Land Rover reported a 2.6% decline in retail sales to 39,911 in February compared to last year. However, the decline was not very surprising, given that last year, the company had seen the highest ever February sales in its history. This year’s number is the second highest February sales ever, it said. Sales at its […]
Edelweiss Financial Services Ltd said its subsidiary Edelweiss Retail Finance is offering interest rates of 8.75% to 9.25% to retail investors who want to put in Rs 1,000 or more in the company’s debentures. Debentures are like bonds, and are issued by a company with a fixed tenure, after which they are redeemed. The interest […]
Promoters, including Malvinder Singh and Shivinder Singh, saw their combined shareholding in financial services provider Religare Enterprises Ltd come down by 2.16 percentage points due to the invocation of pledges, they said in a regulatory filing. The filing comes in the wake of reports that the company’s board may be reconstituted to give more representation […]
Pharma company Jubilant Life Sciences said the government of Maharashtra has stayed the order passed by state excise commissioner stopping the production of alcohol at one of its plants in the state. On March 3, the commissioner had canceled the company’s licenses for running a distillery at its factory located at Nira, Maharashtra. He had […]
The Delhi High Court has upheld the award of a Rs 5,060 cr compensation by the Delhi Metro Rail Corporation for circumstances leading to cancellation of Reliance Infra’s airport metro service. The compensation was originally awarded by an arbitration panel last year. Along with interest, said the Anil Ambani company, the total amount will coem […]
More than six years after an agreement was signed, US-based Cheniere Energy has started supplying liquefied natural gas or LNG to India. The first ship, Meridian Spirit, set sail from Louisiana and will reach Dabhol in Maharashtra by around 28 March, said GAIL, which is India’s largest gas supplier. Under the terms of the supply […]
Jain Irrigation Systems Limited said it has won a Rs 288 cr project from the Karnataka government to set up a drip irrigation system for 5,000 farmers in Chikmaglur district. The project involves lifting water from Upper Bhadra Canal and and using the same to irrigate 16,193 acres using drip irrigation. The contract, won through […]
Glenmark Pharmaceuticals reported encouraging clinical trial data from the study of its drug Ryaltris for hay fever or seasonal allergic rhinits. “Results of these robust studies demonstrates that consistent, significant relief from symptoms may be rapidly achieved and sustained with Ryaltris,” said Frank Hampel, Principal Investigator, Central Texas Health Research. “These findings, combined with prior […]
