Reliance Jio chairman Mukesh Ambani announced the JioPhone, which aims to bring smartphone features to the candybar form factor. The phone will be given to anyone if they deposit Rs 1500 with the company. The user will get the Rs 1500 back when the device is returned after 36 months. “Net net, you pay nothing […]
Mukesh Ambani, chairman of Reliance Jio will make a ‘significant announcement’ about the 4G wireless service provider’s offerings at 11 AM on Friday while delivering his annual speech at its parent’s annual general meeting. A live webcast of Mukesh Ambani’s speech at the AGM, at which he is expected to announce the launch of ultra-cheap […]
India added only 827 megawatt of solar power generation capacity in the first three months of the current financial year, indicating a slow start to the yearly program. The addition of the first three months represents only 8.27% of the 10,000 megawatt that it is supposed to come online this year. According to India’s ambitious […]
Fitch Ratings said the new Goods and Services Tax regime will hurt the oil & gas, pop-and-mom retail and small and medium enterprise segments, while benefiting auto, cement and organised retail sectors. However, it said it won’t revise it ratings due to this at this point. In a report titled “Varying Impact of India’s GST […]
Cement manufacturer ACC Ltd reported a 46% jump in profit before tax to Rs 482 Cr, while sales increased 18% in the first quarter to 3,329 Cr. Net profit rose 33% to 326 cr. Cement volume rose 10% on year. “The Company delivered strong volume growth amidst challenging market Conditions,” it said. “The speedy ramp […]
Faced with a slowdown due to the emergence of the pan-India competitor Reliance Jio, state-owned Bharat Sanchar Nigam Ltd has halved the price of its unlimited 2 Mbps DSL broadband plan to 599 per month. The player was earlier offering unlimited 2 Mbps for Rs 1,199. Though cheap by the company’s standards, the earlier offer […]
Anil Ambani Group’s Reliance Capital said it received Rs. 378 crore from Nippon Life Insurance, one of the largest life insurers in the world, after the foreign company increased its stake in Reliance Nippon Life Asset Management Limited to 49%. The original agreement to increase the stake from 26% to 49% was announced on March […]
The demonetization of currency notes late last year has doubled the number of card transactions and helped push India’s payment digitisation by three years, State Bank of India said in a note. “Even after seven months post demonetization, the transaction value is quite large and approximately double of what it had been corresponding month last […]
Automaker Mahindra & Mahindra launched a new minivan based on its Jeeto platform, priced at Rs 3.45 lakh before taxes. At the price, the van is likely to appeal to semi-commercial users, such as schools, institutions and shops. The company already has a similar offering on its Maxximo platform, priced at Rs 3.05 lakh. The […]
Netflix, the world’s biggest distributor of movies, ranked Mumbai-based 7 Star cable network and Spectranet, which offers fiber broadband in several cities, as the fastest networks for prime time usage. The average speed available to Netflix was 2.77 Mbps on 7 Star cable and 2.69 Mbps on Spectranet in June, the movie streaming company’s ratings […]
The Tata Motors Group reported a 2% decline in global wholesales in June 2017. Total global wholesales for the month was at 90,966. The decline came from the commercial vehicle segment. Sales of commercial vehicles, including from Tata Motors and Tata Daewoo fell 8% year on year to 30,241. Passenger vehicles whole-sales increased by 1% […]
Auto ancillary company Minda Corp said it had raised Rs 25 cr by issuing commercial paper. Commercial paper refers to unsecured, short-term promissory notes or debt issued by a company. These paper usually mature in a few weeks or months and are used for working capital and other short-term requirements. “This (issue) is in line […]
With Reliance Jio raising the price of its 1GB-per-day pack from Rs 309 to Rs 399, Idea Cellular has managed to beat the new operator in this segment, though not by much. Idea Cellular offers 1GB/day for 84 days at Rs 397, making it cheaper by 2 rupees. Though Idea’s scheme is not listed on […]
Most Reliance Jio 4G users have to recharge their phones by Friday, July 14 to continue uninterrupted service. This because the current offer — Summer Surprise or Dhan Dhana Dhan — came into effect on April 16, and will complete 90 days by Friday. The Summer Surprise plan had a validity of 90 days and […]
India’s biggest wireless data provider Reliance Jio unveiled a new set of plans as it continues to migrate its customers towards paid plans. The key difference between the new plans and the previous Dhan Dhana Dhan offer is that the new plans offer double validity for the recharges, while the earlier plan offered triple validity. […]
State Bank of India said it had decided to conduct an initial public offer for some of its shares in its insurance subsidiary SB Life Insurance. BNP Paribas Cardif S.A. would also sell some of its shares in the offer. It said the offer would involve 8 crore shares. No valuation or size details were […]
Today marks the last day of telecom operator Reliance Jio’s Dhan Dhana Dhan promotional offer that triples the validity of 4G recharges on its platform. The offer was unveiled as a promotional scheme on April 11, and according to the law, promotional schemes can be valid only for a period of 90 days, which expires […]
GMR Goa International Airports Limited said it closed funding for the upcoming Mopa Airport in Goa, with Axis Bank underwriting the entire debt of Rs 1,330 cr. “Having tied up funding for the project, we are working towards starting on ground construction activity post monsoon,” said Srinivas Bommidal, chairman of GMR Airports. “We are confident […]
Glenmark Pharmaceuticals said it got approval from US authorities to launch a generic version of Daiichi Sankyo’s hypertension drug Azor in various dosages. The drug had annual sales of approximately $211.6 million as of May. The approval was obtained from United States Food & Drug Administration for Amlodipine and Olmesartan Medoxomil tablets in dosages ranging […]
The Indian rupee is likely to give up some of the gains it has made in recent weeks going forward, Angel Broking said, adding that the currency is likely to move towards the 65.30 level against the US dollar. The rupee has risen around 5% in the last six months due to various factors, including […]
