Institutional Investor Advisory Services India Limited (IiAS) has said that many Indian companies are disregarding the boundaries imposed on related party transactions brought in by new SEBI norms brought in over the last few years by passing vague enabling resolutions. IiAS is India’s leading proxy advisory firm and offers voting recommendations on shareholder resolutions. It […]
IDBI Bank has reduced the interest rates on Retail Term Deposit by 40 basis points (0.4 percentage points) on fixed deposits with maturity of more than 6 months and up to 270 days. For maturity periods of over 271 days, it has reduced the interest rates by 25 basis points. Senior citizens would get interest […]
Jet Airways, one of India’s top airlines, is offering a 30% discount on its fares under special independence day offers. The discount is not applicable to taxes and charges like airport usage fees and will be available from August 10 to 14, for travel between September 10, 2015 to April 14, 2016. AirAsia too has […]
Construction major Shapoorji Pallonji Group has issued Rs 2,610 cr of bonds at an average price of 9.15%, making it one of the biggest asset-backed infrastructure project financing in India. “At Rs 2,610 crores, this is among the largest private sector infrastructure bonds issued in India and is the largest bond in the roads sector,” […]
The Confederation of Indian Industry (CII), India’s biggest association of companies, has urged the government of India not to implement a Preferential Market Access for medical equipment without first setting the groundwork for promoting a components and ancillary industry in the country. It said that merely mandating local sourcing norms without helping the local industry […]
The AirAsia Group is offering flights from India to Bangkok, Thailand and Kuala Lumpur, Malaysia at Rs 3,699 one-way, the company said. Celebrating its 300 million passenger milestone, the low-cost carrier is also offering domestic India flights for Rs 999 all in on certain routes. “The AirAsia Group affiliates with flight codes AK, FD, QZ, […]
Tube Investments of India Limited, part of the Murugappa Group and maker of BSA cycles in India, reported Q1 profit of Rs 95 cr against Rs 90 cr for the corresponding quarter in the previous year. On a standalone basis, the company’s revenue for the quarter was higher by 3% at Rs 1009 cr as […]
Toyota Kirloskar Motor today launched the 2015 Etios Xclusive billed as the “Real Sedan made by the makers of the World’s No. 1 Sedan, the Toyota Corolla Altis.” The Etios Xclusive starts from Rs. 7.82 lakhs before taxes in Delhi for the petrol variant and at Rs 8.93 lakh for the diesel variant. The 2015 […]
Adani Ports and Special Economic Zone Limited, India’s largest port developer and part of Adani Group, reported a 17% jump in its total cargo volumes and a 32% increase in revenue during the first quarter Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16. In case of containers, the Mundra […]
ICICI Bank, India’s largest private sector bank, introduced a new product — ICICI Bank Saral-Rural Housing Loan — which will carry only the bank’s base interest rate. “Applicants from rural areas including women borrowers as well as seekers from weaker sections can now avail home loans at the ICICI Bank Base Rate which is currently […]
With operators like Bharti Airtel and Idea Cellular asking the government to be allowed to block certain web applications that compete with their own offerings, data-centric service provider MTS has declared that it will never block any web traffic on its network. Sistema Shyam TeleServices – which runs its services under the MTS brand – […]
Land Rover today announced that the first new member of the Discovery family, the new Discovery Sport will be launched in India on September 2nd 2015 and that Land Rover retailers are now formally accepting bookings for the most versatile premium SUV in the segment. “The new Discovery Sport, with new levels of refinement, engineering […]
Visiting Amritsar’s Golden Temple is considered an auspicious start to anything new. So, with Zee TV’s upcoming primetime show ‘Tashan-e-Ishq’ all set to launch on 10th August, its cast decided it was time to seek blessings of the Lord for its success. “We have been shooting in Punjab as the show is based there. So, […]
Online purchases made through mobile phones are steadily increasing in India and are likely to touch $40 million in 2016 from the current level of $30 million, reveals the ASSOCHAM and Grant Thornton joint study. The results are likely to interest players like Amazon and Flipkart. Flipkart especially has been very aggressive as it sees […]
Online seller Flipkart said it has crossed 150 mln (15 cr) product listings on its website and said that 75% of its traffic is now coming via mobile. We have “witnessed a 150% growth in the number of products sold as compared to 2014. From introducing new categories/products to innovative last mile delivery options, the […]
Vedanta Resources, the London-listed global mining giant, said it will today restart iron-ore mining at its mine at Codli in Sanguem taluka in Goa. “The Company has received the relevant consent, license and approvals in place to commence the iron-ore mining operations in the State of Goa for some of its leases,” Vedanta said. The […]
In the tussle with neighboring state Telengana over attracting investments, Andhra Chief Minister Chandrababu Naidu has managed to win a small battle with the decision of Xiaomi to establish its first manufacturing plant in India at Vishakapatnam. Though an official announcement about Xiaomi’s India manufacturing has not been made yet, the company leaves very little […]
JMC Projects Limited (JMC), subsidiary of Kalpataru Power Transmission Limited, said its revenue for the first quarter fell to Rs 582.8 crore from Rs 602.3 crore in the corresponding period last year. Profit after tax was up 48% at Rs 6.3 crore as compared to Rs 4.3 crore. “All the four road BOOT projects of […]
Mahindra and Mahindra reported revenue of Rs. 10474 crore for the quarter ended June as against Rs. 10734 crore in the same quarter of the previous year. The Net Profit after tax fell to Rs. 831 crore as against Rs. 896 crore last year due to the absence of a one-time gain that was there […]
Flipkart is offering substantial discounts on smartphones, TVs, home appliances, laptops and other items under its ‘Freedom Sale’. The Freedom Sale is available today and tomorrow. However, to get the discounts, you’ll have to download Flipkart’s mobile app and use that to make the purchase. Those with SBI credit or debit cards can get an […]
