Reliance Anil Ambani group said itś unit Reliance Aerospace entered into a joint venture with Dassault Aviation, a French aircraft manufacture. The partnership between Reliance and Dassault will also focus on promoting Research and development projects under the IDDM program (Indigenously Designed, Developed and Manufactured), a new initiative of India’s Defence Minister Manohar Parrikar. The […]
Infibeam Incorporation Limited, a Indian ecommerce company, said it entered into licensing agreement and joint venture with Dubai-UAE based KSK capital for offering “e-commerce solutions to merchants and consumers” in about 40 countries in Middle East & Africa. It was not clear whether Infibeam would provide the back-end software and platform for the project or […]
Larsen & Toubro, a leading Indian infrastructure company, said it has won projects worth Rs 6,024 crores across various business segments, including some in the Middle East. Out of theRs 6,024 crores, Rs 2,501 crores worth of projects were from the Middle East. The period over which these contracts were acquired was not disclosed. The power […]
When Mukesh Ambani announced that he wanted 100 mln (10 cr) subscribers on his new Reliance Jio network, most people in the industry saw it as an aspirational number. Jio would be lucky to have 50 mln, they said. If the company were to cross the 50 mln mark within the first year, it would be a […]
Reliance Communications said its CEO Vinod Sawhny resigned with immediate effect for personal reasons. “We wish to inform you that the Company has accepted request of Mr. Vinod Sawhny to step down as Chief Executive Officer of the Company with effect from September 30, 2016 to enable him and his family to relocate to New […]
Informal trade or smuggling of goods between India and Pakistan is estimated at over USD five billion, almost double the official two-way commerce between the two neighbours with history of chequered ties, said an ASSOCHAM study. There are more exports from India than imports through the smuggling route. The official Indo-Pak trade is only USD […]
Amazon has kickstarted its ‘Great Indian Fesival Sale’ today morning and is offering some decent deals on mobile phones, especially smartphones, for those on the lookout for value. The most interesting offers are on the Moto range, followed by Samsung, Xiaomi and LeEco. And unlike earlier years, most of the deals this Diwali are focused […]
What do you do when your rival Amazon is holding its big holiday sale two days ahead of you? If you’re Flipkart, you make sure that your customers know what’s in store for them if they wait. According to clues we’ve picked up from the social media and other promotions, Flipkart will offer some hefty […]
63 moons technologies ltd, formerly known as Financial Technologies, said the Directorate of Enforcement, Mumbai has requested the National Securities Depository Ltd. and Central Depository Services (India) Ltd to freeze the Demat Account of the company maintained with them. In India, shares and securities are held electronically in a dematerialized (or “Demat”) account, instead of […]
Kotak Mahidra Bank said it has agreed to acquire BSS Microfinance Pvt Ltd for Rs 139.2 crore in cash. BSS Microfinance Pvt Ltd is an non-banking micro finance institution. It exends microfinance to poor rural and semi urban women, primarily for income generating activities, and also for life quality improvement activities. As at June 30, […]
Home loan and housing finance company Dewan Housing Finance Co Ltd said it issued 2.12 crore shares to promoter Wadhawan Global Capital Pvt Ltd. as part of conversion of outstanding warrants. The warrants were issued in March after taking a payment of Rs 125 crore. The remaining Rs 375 crore has been paid upon conversion. […]
USFDA issued four observations about Cipla’s manufacturing facilities in Goa after conducting an audit, the company said. Cipla has three facilities in Goa. “The observations were primarily procedural in nature and the company has already responded to these observations,” said the pharma company. Further details were not given. The company said it will continue to operate their […]
The upcoming festive season, beginning October 1 is likely to register record-breaking sales, revenues, and highest ever purchase rate per minute for e-commerce giants as most people have deferred their holiday purchasing plans in anticipation of blockbuster offers, an ASSOCHAM survey-cum-analysis found. The Associated Chambers of Commerce and Industry of India (ASSOCHAM) interacted with about […]
Multiplex theatre group InoX Leisure Ltd said it has launched its new multiplex cinema theatre at Rangoli mall at Howrah, West Bengal today. The multiplex theatre has three screens with 830 seats. “By this new venture Inox is now present in 57 cities pan-India with 110 multiplexes. These multiplexes have 432 screens and total seating […]
Flipkart, one of India’s top online shopping sites, has warned users not to click on suspicious links or otherwise give credence to purported offers from the website seen on social media platforms. “With the Flipkart Big Billion Days just round the corner, a host of fake offers and discounts are being offered on various fraudulent […]
Credit Rating agency Brickwork Ratings India Pvt Ltd. downgraded bonds issued by Indian Overseas Bank from A- to BBB+. It maintained its outlook on the bonds as negative. The downgrade has come in the context of rising bad loans on the bank´s balance sheet. Indian Overseas Bank is one of the worst affected banks as […]
Financial service provider Intellect iGTB, formerly part of Polaris, said its banking solution has been launched on the cloud using the software-as-a-service model. Software as a Service is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. It is sometimes referred to as “on-demand software” […]
Indraprastha Gas, the supplier of CNG and PNG in Delhi, has been authorized to construct the City Gas Distribution (CGD) network in Rewari in Haryana. Addressing the shareholders, Mr. Ravindran also gave an overview of future plans of the organization involving consolidation of its presence in existing areas as well as expansion in new geographies […]
Pharma Major Lupin Ltd said it received final approval from United States Food and Drug Administration for selling Memantine Hydrochloride extended-release capsules, a generic version of Allergan’s Namenda XR capsules. Namenda XR extended-release capsules are approved by the USFDA for the treatment of moderate to severe dementia of the Alzheimer’s disease. It does not cure […]
Yes Bank said it will raise up to Rs 2500 crore by way of debentures. This will comprise Rs 1,000 crore of unsecured redeemable long-term bonds and a green shoe option for an additional Rs 1,500 crores. The bonds will be sold via private placement. The bank had earlier got shareholder approval to raise up […]
