The Indian Cabinet has approved a proposal by Germany — one of the pioneers in developing solar power in the world — to provide concessional loans of around 1 bln euro to develop the renewable energy source in the country. India has an ambitious, almost impossible, target of achieving 175 gigawatt of renewable energy capacity […]
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, approved setting up of six new Indian Institutes of Technology (IITs) in Andhra Pradesh, Chhatisgarh, Goa, Jammu, Kerala and Karnataka. They will be initially established as societies and later converted to ‘full IITs’ by amending the IIT Act of 1961. At present, India has […]
CEAT and Pirelli said that they had entered an exclusive partnership for distribution of Pirelli’s global range of motorcycle tyres in the Indian market. This sole partnership will leverage CEAT’s vast distribution and dealer network pan India, CEAT said. Pirelli is one of the world’s top tyre brands and is known as much for its […]
Air India has entered into an agreement with RITES or Rail India Technical and Economic Service to use the latter as a project consultant. “With the signing of the MoU the two companies will cooperate in their future projects, in areas of planning, design and construction management of aircraft maintenance hangars, Maintenance Repair and Overhaul […]
Honda Cars India Ltd, a unit of the Japanese auto giant, reported a decline in car sales for November as Mobilio sales fell by nearly 90%, bucking the trend of overall positive numbers from other players. Earlier in the day, Maruti Suzuki and Mahindra & Mahindra reported strong year-on-year growth for sales in November. Honda […]
November is turning out to be a good month for automakers in India, with Mahindra & Mahindra, India’s biggest SUV maker, reporting a 21% jump after Maruti Suzuki said sales rose 9.7% in the month. M&M total auto sales stood at 41,590 units during November 2015 as against 34,292 units during November 2014, boosted by […]
In a novel gesture, NDTV, one of India’s biggest broadcasting firms, issued a detailed question-and-answer feature to counter what it called “media reports being circulated on various forums” about an alleged funding scam. The company has been asked by the government why a fine of Rs 2,030 cr ($300 mln) should not be imposed for […]
TV18, one of India’s leading television broadcast networks and CNN International, the number one international news brand today announced the extension of their collaboration on CNN IBN. This comes weeks after the two said they are letting their agreement lapse. “Both parties embark on this new chapter with a determination to refresh CNN IBN and […]
Maruti Suzuki reported a strong increase of 9.7% in total auto sales for November this year due to strong sales of its Dzire Tour model and compact cars. Total sales increased to 120,824, comprising 110,599 units in the domestic market and 10225 units in exports. Sales of compact cars — including Swift, Celerio, Baleno, Dzire […]
Back in 2011, when 3G services were starting to be launched, there would be new announcements every three or four weeks from each operator on new tariff plans. Some would offer ‘free 3G’ along with voice recharge, some would offer combo plans, some heavy usage plans such as 10 GB for Rs 999 and so […]
A week after announcing a similar facility for all models of Swift and Dzire, Maruti Suzuki said it will offer the option of airbags and anti-skid braking on all models of compact hatchback Celerio, including the base version. “By offering safety features like airbags for driver and co-driver, and Anti-lock Braking System (ABS) from the […]
To counter the tremendous threat posed by Reliance Jio, the biggest telecom company in India Bharti Airtel has launched a massive network transformation program called Project Leap. “Aimed at perceptibly improving network quality and delivering the best customer experience, this strategic project will see an investment of Rs. 60,000 crore in the next 3 years,” […]
SKS Microfinance Limited cut its lending rate by 1% to19.75% per year for all future disbursals. “With this, the Company becomes the first micro finance institution to charge a sub-20% interest rate on its core Income Generating Loans (IGL) which are unsecured micro loans. Interest rate of 19.75% is the lowest rate charged by any […]
All India Bank Officers’ Association, the second largest organisation of bank officers, said it would support the upcoming strike by IDBI employees against disinvestment of IDBI Bank. The government is reportedly planning to bring down its holding in the bank below 51% like it did in case of Axis Bank (formerly UTI Bank). “The entire […]
Reliance Infrastructure Ltd., one of the flagship companies of the Anil Ambani group, said it expects bring Pipavav Defence & Offshore Engineering Co from the current corporate debt restructuring (CDR) program after taking over the company. Reliance Infra is in the process of acquiring Pipavav Defence & Offshore and is conducting an open offer for […]
Broadcasting group NDTV said that the show-cause notice from the government on alleged foreign exchange violations conducted by the company are legally untenable and liable to be challenged. “Company has been advised that none of the violations alleged in the show cause notice are legally tenable and the Company is in the process of challenging […]
The Power Transmission & Distribution Business of L&T Construction has Won Orders Worth Rs 1,038 crores in the international and domestic markets in November 2015, the company said. Larsen & Toubro Saudi Arabia LLC, a fully owned subsidiary of L&T, has bagged an order valued at SAR 405.75 Million (USD 108.2 Million) for the construction […]
Mahindra & Mahindra has launched an automatic variant of its top utility vehicle, the XUV500. The Automatic Option will be available on 3 variants of the New Age XUV500 – W8 FWD and W10 FWD & AWD and starts at a price of Rs 15.36 lacs (ex-showroom Navi Mumbai) for the W8 FWD variant. The […]
Tata Housing has launched a premium new housing project called Eleve in Mumbai. The project, which will offer 2BHK, 2.5BHK and 3BHK units starting at Rs. 1.4 crore, is being built in collaboration with the city-based realtor Neptune group and is spread across 22 acres of land. Located in Bhandup, ‘Eleve’ will have access to […]
Amid the slightly cautious atmosphere regarding a revival in Indian corporate earnings, Moody’s Investor Service has come out saying that it expects things to get better. It said most non-financial corporates it rates in India will benefit from strong domestic growth and accommodative monetary policy (lower interest rateas), although weak global growth and a potential […]
