Ruchi Soya Industries said global private equity player Devonshire Capital will buy 51% of the company and 100% of certain of its ‘branded packaged oils distribution business’. The money will be substantially utilized for payment to all lenders over a period of time, it said. Devonshire will pay Rs 4,000 cr for the branded packaged […]
Bajaj Auto said sales of motorcycles in India fell 1% in the festival month of October. However, a timely growth of 20% in exports of motorcycles helped the company report a 6% growth in overall motorcycle sales during the month. Total motorcycles sold in India was 2.12 lakh, down from 2.13 lakh last year, and […]
Two of India’s top satellite-based cinema feed providers, UFO Moviez and Qube Cinema Technologies, have decided to merge to take advantage of higher scale. The merger ratio and valuation will be 63.6% for UFO and 36.4% for Qube Digital. Currently, UFO supplies its movie feeds to around 4,000 screens while Qube provides its feed to […]
Tata DoCoMo has started reaching out to customers to prevent them from leaving the network in droves, ahead of a takeover of the mobile operations by Bharti Airtel. Subscribers of Tata DoCoMo, a brand operated by Tata Teleservices, had started porting out last month soon after newspaper reports claimed that it would shut down services […]
TVS Motor Company reported a sales growth of 3% for its two- and three-wheeler sales in October. TWO WHEELERS Scooter sales grew by 15.7% to 106,910 units in October 2017. Motorcycles sales grew by 3.2% to 125,409 units in October 2017. However, the growth came largely from exports. Two-wheeler exports grew by 20.0% increasing from […]
IT services provider Cognizant seemed all set to clock the upper end of its full-year guidance for calendar year 2017, raising the lower-end of its forecast once again. The company, which had changed its revenue growth forecast for 2017 to 9-10% from 8-10% last quarter, further fine-tuned it to 9.5%-10.0% this time. It now expects […]
IT services provider Tech Mahindra Ltd reported a 3.7% sequential jump in Q2 revenue and a 4.7% jump in net profit. Revenue increased to Rs 7,606 crore, up 6.1% YoY, while net profit increased to Rs 836 crore, up 29.7% YoY. Revenue in dollar terms was up 3.6% QoQ at $1,179.2 mln; up 10.0% YoY. […]
Tata Motors Limited said it saw a 5% increase in the number of vehicles sold in India during October, driven by the commercial vehicle segment. Total sales were at 48,886 units. However, most of the growth came from light CVs and pick-ups. Both commercial and personal passenger vehicle sales showed a disappointing performance. On the […]
Two- and three-wheeler manufacturer TVS Motor Company reported a revenue growth of 18.2% for the quarter ended September 2017, while net profit jumped 20%. Revenue excluding duties grew to Rs. 4097.99 crores in the quarter ended September 2017 from Rs. 3465.69 crores last year. Profit After Tax (PAT) increased by 20.2% to Rs.213.16 crores in […]
Google has opened its first data center for third-party cloud services in India at Mumbai. This will enable developers to host their applications, websites and other IT projects within India, enabling faster response times for their customers in the country. Before this, the closest location was Singapore. Google offers various services, such as virtual servers, […]
IDBI Bank said Net Interest Income for September quarter improved by 3.63% compared to previous year and 18.19% compared to the June quarter. Net Interest Margin (NIM) stood at 2.17% for QE Sept 2017 showing improvement of 27 basis points as compared to QE Sept 2016 and 45 basis points as compared to the preceding […]
Eicher Motors said it sold 69,492 Royal Enfield Bullet motorcycles in October 2017, up 18% compared to the same month last year. However, the number represented a slight decline in the pace at which the company’s sales have been growing this year. For example, from April to October this year, total number of Royal Enfield […]
Reliance Capital reported a 2% year-on-year increase in total income for the September quarter for its subsidiary Reliance Commercial Finance Ltd. It earned pretax profit of Rs 92 crore, up 7% on year, while total income came in at 502 cr. As on September 30, 2017, outstanding loan book was Rs. 12,653 crore – a […]
Alembic Pharmaceuticals said it bought New Jersey-based generic drug developer Orit Laboratories LLC, which will bring seven approved generics and four applications with it. Orbit has “a team of eight highly experienced scientists,” Alembic said, adding that the firm focuses on developing and filing oral solid and liquid products. “We Welcome Dr. Satish Patel, Founder […]
Reliance Communications could ink more spectrum selling and sharing agreements with Mukesh Ambani-controlled Reliance Jio, Fitch Ratings said, adding that the Anil Ambani company would end up as a mobile virtual operator after its ongoing restructuring. Rcom “plans to monetise spectrum assets in the 800MHz, 900MHz, 1800MHz and 2100MHz bands by sharing and trading with […]
Reliance Communications said it the company’s board has approved the issue of fresh shares in the company to the shareholders of Sistema Shyam Teleservices Ltd, which operates the MTS brand of telecom services in India. RCom’s merger with MTS received the government’s approval a few days ago. Since companies in India can get an extension […]
Bharti Airtel, India’s largest telecom company by revenue, reported further erosion in its revenue and profit in September quarter compared to the previous June quarter. The company reported revenue of 21,777 cr, down 12.3% compared to a year ago and down 0.8% compared to the previous three months of April to June. Profit before exceptional […]
Bharti Airtel, India’s largest telecom company by revenue, reported further erosion in its revenue and profit in September quarter compared to the previous June quarter. The company reported revenue of 21,777 cr, down 12.3% compared to a year ago and down 0.8% compared to the previous three months of April to June. Profit before exceptional […]
Bharat Sanchar Nigam Ltd has increased the speed of all its broadband to 10 Mbps from 2-4 Mbps from tomorrow for all plans starting from Rs 675 per month. This price and data allocation of the plans will remain unchanged, it said. For plans below Rs 675 per month, the download speeds have been increased […]
Tata Global Beverages, the world’s second largest tea company, said it is evaluating the possibility of entering the cafe business and has launched its first pilot outlet at Indira Nagar in Bangalore. The outlet, called ‘Tata Cha’, will offer a wide variety of teas as well as snacks. “Tata Cha will specialise in serving freshly […]
