AU Small Finance Bank has tied up with Aditya Birla Health Insurance to to distribute the latter’s health insurance products. The bank will act as a corporate agent, it said. “This tie up shall be mutually beneficial for ABHICL & AU SMALL FINANCE BANK in terms of business, market penetration and reach,” it said. Aditya […]
Mumbai-based IT services provider Cyient said it has signed an agreement to incorporate machine learning meter and voltage signature technology from US-based startup Elpis in its solutions for power utilities. “Through this agreement, Cyient and Elpis will jointly pursue utility business opportunities, by leveraging their complementing solutions and technology respectively. “The partnership will combine Cyient’s […]
TVS Motor Company reported one of the strongest increases in its sales in its history, partly due to the compensatory effect of GST-related troubles in the previous month. Total two-wheeler sales registered a growth of 22.1% with sales increasing from 287,449 units last year to 350,854 units in September 2017. Within this, domestic two-wheeler sales […]
Godrej Properties Ltd, one of the few real estate players still actively launching new projects, announced the beginning of a new project in Pune. It said it will develop a residential project on approximately 59 acres in Mamurdi, West Pune, within the municipal corporation limit. The project will offer approximately 418,000 square metres (4.5 million […]
Indraprastha Gas Ltd, which sells CNG to the National Capital Region, said it has raised the price of CNG by 95 paise per kg in Delhi and by Rs 1.26 per kg in the consumer price of CNG in Noida, Greater Noida and Ghaziabad. In Rewari, the price will be increased by Rs 1 per […]
Reliance Communications inducted its CEO and the president of its telecom business into its board of directors. Punit Garg, President, Telecom Business and Chief Financial Officer V Manikantan have been appointed as non-indepedent directors on the company board. The move comes after the company’s plans to merge with Aircel Cellular fell through and the company […]
Apollo Tyres said it ‘strongly denies’ the Economic Times report that it was trying to acquire South Korea’s No. 2 tyre maker Kumho Tire for $900 million. “Apollo Tyres strongly denies the story headlined ‘Apollo Back in Kumho Race as Geopolitics Sours China Deal’ that appeared in the print edition of ‘The Economic Times’ on […]
Reliance Communications, which announced it was abandoning plans to merge with Aircel Cellular, indicated that it would focus on two segments – 4G and wired. Within wired, it would focus on enterprise services. The disclosure indicates that the company, — which recently shut down its GSM network in Gujarat — could close more and more […]
Railway minister Piyush Goyal said he has ordered a ‘safety and capacity’ audit of all foot-overbridges in Mumbai. The order comes in the wake of the death of around 25 people in a stampede on a narrow foot-overbridge in the Elphinstone station. He also said that the Railways will give Rs 5 lakh as compensation […]
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 […]
Tata Steel Limited’s (TSL) memorandum of understanding with thyssenkrupp AGn to create a 50:50 JV in Europe paves the way for TSL to reduce exposure to a structurally weaker business, says Fitch Ratings. However, TSL’s Long-Term Issuer Default Rating (IDR) of ‘BB’ remains on Rating Watch Evolving until further clarity on the proposed JV emerges […]
The average data consumed by wireless users in India has increased five fold in the last year one year, even as prices crashed by 97% due to the launch of Reliance Jio. For India as a whole, the total consumption of wireless data touched 4.3 bln GB in the three months from April to June […]
Idea Cellular, one of India’s top telecom companies, is working with the assumption that its users will increase their data consumption from the present level of around 2.2 GB per month per head to 15 GB per month by next year, CEO Himanshu Kapania said. “Idea is planning on a business model of 15 GB […]
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 […]
All three of India’s top mobile networks — Bharti Airtel, Vodafone and Reliance Jio — are currently conducting trials of a key 5G technology that makes use of a very high number of antennas to increase the capacity of the network, David An, the technology head of ZTE said today. “Today we are very glad […]
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, […]
India is likely to see a massive increase in the amount of satellite broadband connectivity, including that for hand-held devices, over the coming months with the operationalization of three new satellites, AS Kiran Kumar, secretary to the department of space said. At present, almost all the bandwidth on India’s 15 satellites are presently in the […]
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 […]
Nucleus Software, which provides IT solutions for financial services companies, said its loan management solution has been selected by Finova Capital, a Jaipur-based Non-Banking Financial Company (NBFC) to digitise its lending business. Founded in 2015, Finova Capital offers business loans to lower income segments in rural and urban areas. “As a part of their strategic […]
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 […]
