Fitch Ratings has upgraded its rating on Tata Motors by one notch, pointing to the automaker’s improving business performance. “The upgrade reflects the sustained improvement in TML’s Indian automotive business over the last two years, supported by growing commercial vehicle volumes, successful new product launches in the passenger vehicle segment, as well as the management’s […]
A pioneering artificial intelligence program that started getting deployed around mid-2016 has helped Wipro Ltd reduce its employee numbers by 12,000 people, the company said in its recent quarterly update. “The HOLMES platform generated productivity worth over 12,000 people,” Saurabh Govil, head of human resources for the company, said. The statistic points to a stronger-than-expected […]
Maruti Suzuki said its revenue increased 20.3% in the three months from January to March this year compared to the same quarter last year, while net profit jumped 16%. “Growth in volumes, increase in share of the Company’s higher segment models, benefits due to full capacity utilization and cost reduction efforts contributed to increase in […]
Zee Entertainment Enterprises entered the Latin American market with the launch of its Spanish-language Bollywood movie channel, Zee Mundo in Mexico and Ecuador. The channel offers Bollywood movies, telenovelas and series. Other countries in the region will be addressed in coming months, the company indicated. ZEE is the first-ever Indian broadcaster to take mainstream channels […]
Wipro Ltd, one of India’s top employers, refused to confirm the exact number of people that it was laying off as part of its annual appraisal process. “It is part of the internal appraisal process,” company officials said, refusing to go into further details. The media had reported that the company was laying off around […]
The Anil Ambani Group has relaunched Bigflix, the homegrown competitor to Netflix, with an expanded focus covering regional language content as well as an eye on audiences outside India. The service will have 2000 HD movies in nine Indian languages to start with, the group said. These languages are Hindi, Telugu, Tamil, Punjabi, Malayalam, Gujarati, […]
The Madras High Court has asked the government of Tamil Nadu not to open any liquor shops for three months after complaints that it did not comply with the Supreme Court order on relocating roadside liquor shops. Unlike in most states in India, alchohol shops in Tamil Nadu are run directly by the state government under a […]
Glaucus Research Group, a California-based short seller, said it was selling Hong Kong-listed developer Fullshare Holdings due to peculiar trading patterns seen in the stock’s counter. “Fullshare is supposedly a commercial and residential property developer, but this business is tiny compared to its market capitalization. In FY 2016, Fullshare generated a paltry RMB 132 million […]
Reliance Jio, the biggest carrier of wireless data in the world, said it will expand beta trials of its fiber-to-the-home services in the ‘next few months’ across India. It has already started these trials in “a few locations”, which would be expanded city by city. According to market sources, the company has such trials ongoing […]
The shareholders of Reliance Communications approved the demerger of the wireless operations of the company into Aircel Limited and Dishnet Wireless Limited, the Anil Ambani Group company said. The Scheme was also approved at a meeting called on the directions of the National Company Law Tribunal. The shareholders of Aircel Limited also approved the scheme on April 22nd. […]
Wireless data prices in India, which crashed from Rs 250 per GB to about Rs 10 per GB after the entry of Reliance Jio, will continue to remain under pressure for at least two more years, said analyst firm Credit Suisse. That is the minimum amount of time that the new entrant will take to […]
Vodafone India said it would like to be given the power to manage the size of videos watched by users on its mobile network and lower it automatically “for overall quality welfare”. Participating in the discussions related to Net Neutrality and the powers to be given to telecom operators in traffic management, the company said it did […]
If you thought the fight over net neutrality was over with the sending of 1 mln emails to the TRAI two years ago, think again. The telecom service providers, who lost out that in the first round, are back. This time, however, their demands are more subtle, and focused on getting specific services exempted from […]
Bharti Airtel said it would provide 100 GB of free high-speed data to anyone who purchases Amazon’s Fire TV Stick in India. The offer is available to Airtel customers on broadband as well as ‘4G Home Wifi’, but not to normal, handset-based 4G users. The data quota can be availed in buckets of 35 GB […]
Spectranet, which provides among the most affordable fiber-to-the-home services for high-volume users in India, said it had entered the Noida market. The company has started by providing broadband services in Sector 93 with more areas being added rapidly, it said. Among the plans being offered in NOIDA include a range of ‘truly unlimited plans’ that do […]
Indian IT companies are bound to see “some laying off” of their work force back home due to various negative forces impacting the industry, Assocham — an association of various industries — warned. “With the US tightening the norms for H-1B visas under the President Donald Trump’s ‘Buy American, Hire American’ campaign, the Indian IT […]
Employees of Wipro Ltd are nervous as the information technology giant has kicked off its annual appraisal process this month. The first of the several reviews, known as L1 or level 1, has been completed, and at least some employees are feeling the pressure. “I’ve got to know that I have been marked as NI […]
Tata Consultancy Services has reported Q4 revenue of Rs 29,642 cr, a decline of 0.3%, and said his company will wait and see about new US visa regulations that are scheduled to come out today. NEW VISA RULES On new visa regulations expected today, Gopinathan said TCS will ‘wait and see’ what kind of rules are […]
AirAsia said it will offer a 15% discount to all customers of Reliance Jio for flights booked this month for travel between Jun 20 to Sep 30. “All Reliance Jio customers get 15% off on domestic and international flights,” the airline tweeted. The booking has to be done using the AirAsia app and is available […]
Complaints against all telecom providers except Bharti Airtel dropped in 2016, possibly in reaction to the emergence of new operator Reliance Jio and the explosion of 4G data capacity. The total number of complaints lodged with the regulator TRAI against telecom firms dropped 15% in 2016 to 19,774 from 23,293 in 2015 and 20,386 in […]
