The overall wholesale price index for January declined by 1.0 percent, primarily due to lower fuel costs, but prices of primary articles and pulses continued to increase or remain high. Total inflation is divided into three groups — primary articles (20% of total), fuel (15%) and manufactured goods (65%). PRIMARY ARTICLES Out of these, primary […]
Biocon Ltd said it has received European approvals for generic versions of AstraZeneca’s cholesterol drug Crestor, opening up a billion dollar market. The approval has been obtained for Rosuvastatin Calcium 5 mg, 10 mg, 20 mg and 40 mg tablets, indicated for hyperlipidemia or mixed dyslipidemia. Biocon Chairperson & Managing Director Kiran Mazumdar-Shaw said: “This […]
Adani Realty, the youngest arm of the Adani Group, announced its first commercial property project, ‘INSPIRE by Adani’, at Bandra Kurla Complex in Mumbai. The project will be spread across an eight Lakh sq.ft of built up area with G+10 floors with large and flexible floor plates along with landscaped terraces and breakout spaces, the […]
Union Bank of India, one of India’s biggest government-owned banks, said non-performing assets — bad loans to the layman — rose to 7.05% of its loanbook as on December 31, 2015 from against 6.12% three months earlier. A year ago, NPAs, on a gross basis, was 5.08%. On a net basis, NPA ratio was at […]
Trent Ltd, which operates the various retail chains of the Tata Group, said US-based Amazon.com has agreed to buy a 26% stake in its fully-owned subsidiary Westland for Rs 95 mln. It will also get an option to buy out the remaining 74% from the Tatas. Before the transaction, the entire shareholding of Westland was […]
Bharat Heavy Electricals Limited said it won an order worth around Rs 3,500 for the supply of two 800 MW boilers with supercritical parameters for Telangana Super Thermal Power Project (TnSTPP). The project is located within NTPC’s existing Ramagundam Power Station in Karimnagar district of Telangana. “The power generated from this plant will contribute substantially […]
The TRAI’s new net neutrality rules are likely to see the launch of a number of zero-rated networks by players whose dreams of zero-rated websites have been dashed by the regulator. Under the new regulations, telecom companies have been banned from offering any website for free, but have been allowed to offer entire networks for […]
LeTV Le 1s, the most in-demand phone in India currently, sold 95,000 pieces in just 20 seconds as part of its second flash sales in India. The total number of phones sold has reached 1.5 lakh in a matter of eight days — arguably the highest every tally of phones being sold in such a […]
As you read this, India is celebrating the victory of ‘net neutrality’ over evil plans by Facebook and telecom companies to convert the Internet into a walled garden where they allow only those websites who pay monies to them. And you can’t be blamed for it either. But guess what, the telcos are not crying […]
The Internet and Mobile Association of India welcomed the Indian telecom regulator’s move to ban differential pricing of data based on the type and source of content. “This ruling vindicates the associations stand on the issue. The internet Start-up eco-system and the internet user community are delighted,” it said. Taking a long-term view, the Telecom […]
Wipro, one of India’s top IT outsourcing companies, said it has won an IT infrastructure “transformation contract” from the ASSA ABLOY Group, one of the world’s biggest door-opening solutions provider. As part of the five-year agreement, Wipro will consolidate ASSA ABLOY’s existing data centers in the EMEA region and implement a cloud-based service model, which […]
The government of India has decided to utilize Rs 6,500 cr of surplus cash to buy back bonds that it issued recently. The bonds carry 1.44% interest over and above the wholesale inflation index rate and were due to repurchase only in the year 2023. The government of India has seen a sudden influx of […]
The Ministry of New and Renewable Energy (MNRE), proposes an upward revision of the benchmark cost of Concentrating Solar Thermal (CST) Technologies Programme. The proposed revision in the benchmark will also accommodate increase in the cost of various components of CST systems, the government said. UPDATE: There is some confusion about whether benchmark costs have […]
Mahindra Finance said it has received a license to operate Mutual Funds via its subsidiary Mahindra Asset Management Company. Mahindra Finance is currently engaged in vehicle financing, and is part of the Mahindra Group. It plans to tap into its existing network of dealers and customers to sell its mutual fund products. “Our customer base […]
Domino’s Pizza, the most popular pizza chain in India, crossed the 1,000 restaurant milestone today with the opening of its outlet in Unity One Mall, Janakpuri, New Delhi. The total number of cities covered has gone up to 227, making it the biggest food chain in the country. According to Euro Monitor Consumer Food Service […]
Birla Corporation Limited said it agreed to buy the entire cement business of Reliance Infrastructure Ltd for a valuation of Rs 4800 crores including debt. The debt portion of the valuation will not go to Reliance Infrastructure. The equity value of Reliance Cement was not disclosed. The two companies have agreed that Birla Corp shall […]
Dish TV India reported third quarter fiscal 2016 consolidated operating revenues of Rs.7,715 million, up 11.8% on year and subscription revenues of Rs.7,111 million, up 12.6%. During the third quarter, the company increased the total number of HD channels to 50 — the highest in India by some distance. New HD channels include Sony Max […]
Vodafone has priced its 4G tariff higher than other operators, charging Rs 2,499 for 20 GB of data. In comparison, Airtel charges Rs 2,149 for the same amount in Delhi-NCR. The cheapest of 4G operator at present — Idea Cellular — gives a whopping 32 GB for Rs 1,999. Unfortunately, the operator is not present […]
Bharti Airtel said it is refarming its GSM spectrum to launch 3G services on 900 MHz in six circles including Mumbai, Karnataka, Andhra Pradesh, Punjab and Assam. Mumbai was the first off the block, where it launched ‘premium 3G’ services a year ago. It is currently in the process of carving out 3G blocks from […]
TVS Motor Company has reported a revenue growth of 11% for the quarter ended December 2015. Total revenue grew from Rs 2,639 Crores in the quarter ended December 2014 to Rs. 2,940 Crores this year. “On account of the unseasonal heavy rains and floods, the Chennai city and neighboring districts were affected. The company reached […]
