Vodafone India and IdeaCellular Ltd said they agreed to sell their standalone tower businesses in India to the local unit of American Tower Corp for an aggregate enterprise value of Rs 7,850 cr (US $1.2 billion). In case the sale is completed before the merger of Vodafone India and Idea, Vodafone India will receive Rs […]
Real estate major DLF reported a sharp decline in its revenue and profit for the July-September quarter after it stopped taking new bookings due to the implementation of RERA in May. The company’s net profit fell by 94% to Rs 12.57 cr in July-September quarter from Rs 204.60 cr a year ago. Even in the […]
Hindu Janajagruti Samiti, an online organization that aims to bring back ancient Hindu rules in India, said it “won’t tolerate” mistakes in films, referring to errors in the film Padmavati. It did not specify what action it plans to take. Joining the protests by Rajput organizations of Rajasthan, the Samiti said it was outrageous to […]
Housing Development Finance Corporation Ltd or HDFC said the initial public offering of its life insurance unit HDFC Standard Life Insurance has been priced at the upper end of Rs 290 per share. The IPO will now mop up Rs 8,695 cr from the market. The shares were being offered in a band of Rs […]
Chennai-based Sun TV continued to report decent overall growth in the July-September quarter as well, but advertising sales continued to lag behind peers such as Zee Entertainment. The company has been ‘suffering from’ poor advertisement growth in the last couple of years, even as players like Zee Entertainment have reported double digit year-on-year improvements. The […]
Vedanta, one of the world’s biggest producers of minerals, said it plans to increase its oil and gas output by around 100,000 barrels per day to 275,000-300,000 barrels per day by March 2020, and expand its Tuticorin copper plant to the world’s largest. At present, the Tuticorin copper smelter is producing 400,000 tons per year. […]
Just Dial, the local classifieds company, said it “does meet relevant corporates for exploring any business or strategic opportunities and tie-ups”, but there is no proposal to be acquired by Google “as of now”. The statement came in response to a report in the Business Standard daily that said Google has started talks with Just […]
The Tata Motors said group global wholesales in October 2017, including Jaguar Land Rover, rose 2.7% to 1.04 lakh in October. In September, group global wholesale had risen 14% to 1,16,419. Wholesales of commercial vehicles, including Tata Daewoo, rose 1.3% to 37,400. Wholesales of passenger vehicles rose faster at 3.5% to 66,361, compared to 10% […]
Zydus Cadila said Mexico’s drug regulator granted marketing approval to market its diabetes drug Lipaglyn in Mexico. The drug can be used to bring down cholesterol levels in patients even when conventional therapies like statins fail. “This approval of Saroglitazar in Mexico is a major milestone for the company,” said Chairman Pankaj Patel. Lipaglyn was […]
Banking software maker Oracle Financial Services Software, formerly known as iflex, reported strong year-on-year numbers characterized by robust revenue growth and strict control over costs, however revenue slipped on a sequential basis. Consolidated revenue for the quarter was Rs. 1190 Crore, up 12% compared to quarter ended September 30, 2016 and down 1% compared to […]
Larsen & Toubro said its construction arm has won orders worth 4023 crores across various business segments. On Oct 26, the company had announced Rs 3551 crore worth of new orders. Today, it said its civil infrastructure business has bagged orders cumulatively worth Rs 1906 crores including a major government order worth Rs 1824 crores […]
Amara Raja Batteries reported a modest improvement in its results for the September quarter, with operating profit edging above last year’s level by a whisker. Growth would have been faster, if it hadn’t been for the disruption in the telecom market, the company said. The company’s revenue increased compared to the same quarter last year, […]
India Cements, the largest cement maker in South India, said its results for the September quarter were hit by GST, sand scarcity in Tamil Nadu and the impact of tougher regulation on the real estate sector. The company reported today a 62% decline in its standalone net profit to Rs 23.67 crore for the September […]
Jagran Prakashan reported disappointing results for the September quarter, continuing the trend of print and newspaper companies struggling in recent quarters. Total revenue from operations fell to Rs 566.55 cr for the three months ended September, down from 591.33 cr in the previous three months. However, compared to the same period a year ago, operating […]
Tata Consultancy Services said it inaugurated the first phase of Thane delivery center that will have the capacity to seat 30,000 employees when fully developed, which will make it the largest in Mumbai. The company, which has a huge operation in Vikhroli in the city, said it will eventually consolidate its Mumbai operations at the […]
Bharti Airtel said it had introduced new 4G plans for its postpaid, or contract, customers, bringing some of the benefits that were hitherto available only to the prepaid segment. The new plan has been priced at Rs 499 plan for the postpaid segment. However, compared to prepaid plans, the benefits are lower for postpaid users […]
HCL Infosystems, the India-focused IT arm of HCL Group, said it received a tax demand of Rs 312.34 cr plus interest and an amount equal to the interest amount as penalty. The company, which is already struggling with losses, did not specify the amount of interest involved or the year to which the dues relate. […]
Bharat Heavy Electricals Limited said it won its most valuable contract to set up a 765 kilovolt sub station. The Rs 350 cr contract was won from Powergrid as part of its Medinipur-Jeerat Transmission project. “This is the largest value 765kV Substation project order for BHEL so far. With this, the company has maintained its […]
TeamLease Services, one of India’s largest staffing companies, said it has agreed to acquire 40% of Schoolguru Eduserve Private Limited, an Online Learning company that works with 18 Universities. Established in 2012, Schoolguru provides services to Indian Universities to help them deliver online courses for their students. It targets open universities or those that have […]
Adani Wilmar, the company that markets ‘Fortune’ brand of food products in India, is all set to enter the online grocery sales business with a new e-commerce portal and app called ‘Fortune Online’. The company has hired Ahmedabad-based Infibeam to set up an app for the same. Infibeam will be responsible for developing and maintaining […]
