MMRDA sanctions Rs 35,400 cr for Mumbai Metro mega expansion

The MMRDA has sanctioned Rs 35,400 crore for a 118-km expansion of Metro network in Mumbai. The new areas for which money has been sanctioned include Dahisar-Charkop-Bandra-Mankhurd Metro-2 corridor (Rs 12,000 crore and 40 km), Wadala-Ghatkopar-Thane-Kasarvadavali Metro-4 via Wadala GPO and R.A.Kidwai Marg (Rs 12,000 crore and 40 km), Dahisar-E-Andheri-E-Bandra-E Metro-5 corridor (Rs 8,100 crore […]

Airtel, Idea, Reliance Jio and Vodafone race to launch 4G in Kerala

Bharti Airtel is trying to address a key weakness in the lucrative market of Kerala — the lack of a 3G network — by going aggressively with its 4G roll-out. The biggest cities, Kochi and Calicut, have already got LTE services from the company, while most of the cities in the state will be covered […]

Amazon India to sell daily household items and FMCG

Amazon India today announced the launch of its Household Supplies store that offers a wide range of products including dishwashing detergents, household cleaners, laundry detergents, paper, plastic wraps as well as puja supplies. These products will be delivered to any place in India. The entry of the giant into this space could squeeze specialized online […]

Treat the fall in Sensex as a buying opportunity – Motilal Oswal AMC CEO

The current volatility in the stock market is a good opportunity to put money into shares, said Aashish Somaiyaa, CEO of Motilal Oswal Asset Management Company. He said India continued to be in a ‘long term bull’ market and the fundamentals of the economy continue to be robust. “Any extraneous development which gives an opportunity […]

L&T wins orders worth Rs 1,563 crores in power transmission

The Power Transmission & Distribution Business of L&T Construction has won orders worth Rs. 1,563 crores in both the international and domestic markets in July & August 2015, the construction company said. “As a strategic breakthrough in the ASEAN market, a key order has been received from Tenaga Nasional Berhad (TNB) for the design, manufacture, […]

Classifieds provider Qyk raises $1 mln from growx

Qyk, the fastest growing hyper-local professional services startup in India announced a $1 mn pre-series A investment led by growx ventures, an early stage investment firm. Existing seed investors – Tracxn Labs, Powai Lake Ventures, and Sahil Barua — co-founder, Delhivery — also participated in this round. Qyk’s app offers professionals such as event planners, […]

Corporation Bank to preferentially issue shares to Government as part of PSB recapitalization

The government of India will invest Rs 857 cr into Corporation Bank as part of its bank recapitalization efforts, the public sector bank said. Public sector banks, including the State Bank of India, are facing mounting NPAs or defaults as big debtors, such as corporations, refuse to, or are unable to make payments. The taxpayer […]

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