India’s largest carmaker Maruti Suzuki India said it sold a total of 1.51 lakh vehicles in January 2018, up 4.8% over the same period of last fiscal. The overall growth rate, and that seen in individual segments, is below the average for the year so far. It had been reporting growth of around 14% so […]
Quess Corp, the ‘business services’ subsidiary of Thomas Cook India, announced two major acquisitions, purchasing the Asia business of Monster.com and the Indian service center business of HCL Infosystems. Quess Corp will pay up to Rs 30 cr for the service center business of HCL Infosystems. It did not disclose the consideration for the monster.com […]
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 […]
Reliance Industries controlled media group TV18 Broadcast said it has acquired a controlling stake in Viacom 18, which operates channels such as Colors and Comedy Central in India. The joint venture was formed as a 50:50 partnership in 2007. However, because neither party had a controlling stake, TV18 Broadcast was prevented from showing the revenue […]
US search giant Google has expanded its public wifi hotspot venture outside railway stations for the first time. The company said it took the first such move in Pune, setting up 150 wifi hotspots for people to access. The hotspots have been operational in many of India’s big railway stations for nearly three years, including […]
Telecom companies in India have been caught by surprise by the increase in voice calls made by their subscribers in recent months, telecom secretary Aruna Sundararajan said on Tuesday after attending a meeting with industry officials. “They have been surprised by the two-times growth of voice traffic (since unlimited plans were introduced),” Sundararajan said after […]
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 […]
Hero MotoCorp unveiled what it called an advanced, premium motorcycle in the form of Xtreme 200, something that the company said is the result of research at its Center of Innovation and Technology at Jaipur. The Xtreme 200R, which will likely be priced in the ‘affordable premium’ category of around Rs 1.25 lakh, will start […]
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 […]
SpiceJet announced 20 new non-stop flights on domestic routes starting from February 11, including 18 in South India. SpiceJet will use Bombardier Q400 aircraft on the new routes, except for the Chennai – Guwahati, which will see a Boeing 737. Out of the 18 flights, ten will be catering to the popular tourist destinations in […]
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 […]
IT services company Tech Mahindra reported a 13% sequential jump in its net profit despite modest growth, after it was able to keep costs almost static. Revenue in rupee terms rose 2.2% on quarter. Translated to dollars, it was up 2.5%. Year on year, revenue was up 2.9% in rupee terms and 8.3% in dollar […]
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 […]
An analysis of search data from Google has reveals that Bharti Airtel’s 4G service has overtaken Reliance Jio in terms of creating online buzz, as reflected by the number of searches on Google. Bharti’s LTE service, called Airtel 4G, had been totally eclipsed by the launch of Jio in 2016 and was nowhere in the […]
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 […]
Idea Cellular and Vodafone India will gear their network heavily towards 4G after merger and will also shut down over 60,000 cell sites as part of network optimization, going by the presentation being made by Idea in front of investors. The companies had earlier announced that they would surrender around 6,300 cell sites that are […]
