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 […]
Videocon Wallcam has launched a CCTV solution with bundled 4G connectivity in association with Vodafone. It unveiled a 4G-enabled vehicle surveillance kit and stand-alone outdoor and indoor CCTV cameras, both with a 4G sim slot to support 4G connectivity. This ensures that the camera can be placed anywhere with 4G connectivity and only the power […]
Piramal Finance Limited (PFL) has entered the retail housing finance business. It is part of $1.3 bln Piramal Enterprises, one of India’s large diversified companies, with presence in pharmaceuticals, and financial services. The housing finance venture has been floated through a wholly owned subsidiary, Piramal Housing Finance Private Limited. It will offer home loans as […]
Reliance Industries refused to deny or confirm media reports about its telecom unit Jio being in talks to acquire cable operator Den Networks. Shares of Den Networks, one of India’s largest cable networks, are up 6.2%, having opened higher on the news. “We are unable to comment on media speculation and rumors and it would […]
Idea Cellular CEO Himanshu Kapania said sector regulator TRAI was forcing telecom operators to shut down their older networks as it pushes for the adoption of newer technologies, seeking urgent intervention from the government. Kapania said the move towards phasing out of older technologies could have a negative impact on connectivity, especially in areas like […]
After years of debate, micro-blogging website Twitter is testing a higher word limit for some of its users, including some in India. Users, particularly active ones with large following, have been pleasantly surprised to see the limit of 140 characters relaxed as of today morning. “This is a small change, but a big move for […]
Pharma giant Glenmark Pharmaceuticals said it received final approval to sell skin oinment Desonide Lotion in the US. The ointment has annual sales of approximately $23.2 million. The medicine is used to treat eczema, dermatitis, allergies, rashes etc. Desonide reduces the swelling, itching and redness that can occur in these types of conditions. The United […]
Motilal Oswal Real Estate (MORE), the real estate arm of Motilal Oswal Private Equity said it raised Rs 1,030 cr under its India Realty Excellence Fund III. The strong inflow suggests continued investor appetite for investments into companies dealing in this sector despite a slowdown. MORE till date has invested capital in the real estate […]
Tata Consultancy Services said it won a 15-year deal from Scottish Widows insurance company to provide end-to-end policy administration services for its 4 million heritage customers. The deal from the Lloyds Banking Group’s Life and Pensions unit was won by TCS’s UK subsidiary Diligenta, which provides outsourcing services to the insurance industry. “Diligenta will provide […]
Vodafone said it will offer Rs 50 per month in extra talk-time for people using any Intex 2G-only feature phone, provided they top-up by Rs 100 or more per month. The offer will work for 18 months. However, Vodafone said the offer is valid only till 31st October, which could indicate that it must be […]
WagonR, which was India’s ‘big’ small car for over a decade, has become the third car to cross the 2 mln sales milestone, Maruti Suzuki said. Launched in 1999, WagonR and Hyundai’s Santro were the most affordable cars after Maruti 800 and Alto, which ruled as the mass models. With its taller stance and higher […]
Hindustan Unilever, the country’s largest consumer company that owns daily brands such as Rin, Wheel, Kissan and Surf, said the roll-out of the goods and services tax caused some confusion among retailers and distributors. “Early part of SQ’17 (July-September 2017) was affected by various myths in trade,” the company said at Arisaig Consumer Symposium today. […]
IT services provider Infosys said it now offers a private cloud solution built using SUSE Linux and Openstack. The solution will make use of Openstack cloud and datacenter solutions developed by Germany-based Micro Focus SUSE. Infosys and Micro Focus SUSE have jointly invested in a center of excellence to develop validated reference architectures, accelerators and […]
Pharmaceuticals and specialty chemicals maker Vivimed Labs said investment firm OrbiMed will invest $42.5 mn (Rs 270 cr) into its active pharmaceutical ingredients business. The investment will be into Vivimed Labs Mascarene Ltd, which is in turn the holding entity of the company’s API business, UQUlFA. The proceeds of this fund raise will be utilised […]
Acharya Balkrishna of Patanjali has emerged as the latest addition to the list of the top ten richest people in India, which is still headed by Mukesh Ambani, chairman of Reliance Industries. Haridwar-based Acharya Balkrishna, age 45, rose to 8th position from 25th last year after seeing his wealth grow by 173%. He is now […]
Maruti Suzuki, India’s largest car maker, has started taking orders for the 2017 variant of S-Cross, its ‘crossover’ SUV. Booking can be done for an initial payment of Rs 11,000 at any of its 280 NEXA showrooms, or by logging on to nexaexperience.com. The car has not started selling and stocks won’t be available immediately. […]
Capital equipment maker Siemens today said it has transferred its lease for its Worli building to a joint venture K. Raheja Corp Group and GIC, Singapore for a consideration of Rs 610 cr. The deal was originally announced in December and is one of the biggest land deals in India in recent times. The property, […]
Thomas Cook, the travel services company, said it had purchased the forex business of Tata Capital, Tata Capital Forex, in its entirety. “We would like to inform you that the Board of Directors of the Company at their Meeting held on 25th September, 2017, approved the acquisition and signing of a definitive agreement with TATA […]
Sun Direct, a unit of Sun TV, has become the first DTH or cable operator to start transmission using next-generation HEVC compression technology in India. The company has introduced two HEVC — short for high-efficiency video codec — channels on its GSAT-15 beams. HEVC, also known as H.265, requires only 55%-60% of the bandwidth compared […]
