Even as many voices said that the Reserve Bank of India is unlikely to cut interest rates further this year, the real estate sector — though disappointed by today’s actions — is holding out hope that it will do so in coming months. On the RBI’s decision not to cut rates during its third monetary […]
Federal Bank is promising low interest rates and quick processing for personal loans for salaried employees under its new Fed Premia scheme. Under the scheme, salaried borrowers can avail personal loan up to Rs.10 Lakh with repayment period extending up to 48 months. It will offer “competitive interest rate and the quick processing time,” the […]
Godrej Properties announced its first quarter results, reporting a 21% increase in net profit to Rs 55 cr. Total income fell to Rs 263 crore compared to 363 crore, while EBITDA increased by 7% to INR 81 crore from INR 75 crore. EPS amounted to INR 2.76 as compared to INR 2.29. Total booking value […]
The following are reactions from industry experts and analysts on RBI’s monetary policy announced today. The central bank did not change key interest rates, which was in line with what the Street had expected. Repo rate remains unchanged at 7.25% and CRR remains unchanged at 4%. Kunal Shah, Fund Manager, Debt at Kotak Mahindra Old […]
Real Estate player Sobha Limited has launched a new ridge-top project in Bangalore called ‘Sobha Clovelly’, which the developer calls ’boutique homes’. The apartments stand tall along a geographical ridge, thus capitalizing on the beautiful vistas of the city’s skyline. “This new project will certainly be a trend-setter in Bengaluru’s real estate market and an […]
Anil Agarwal, chairman of the global metal giant Vedanta Resources, continued to push for the merger of the flagship company with Cairn India Ltd, a cash-rich petroleum producing company owned by Vedanta. The merger has been criticized as harming the interests of the third-party shareholders of Cairn India Ltd, and institutional investors such as the […]
The Catholic Syrian Bank Limited, a private bank based in Kerala readying for its IPO, has appointed Anand Krishnamurthy as the Managing Director and Chief Executive Officer. Krishnamurthy holds a bachelor’s degree in technology (mechanical engineering) from the Indian Institute of Technology, Madras and a post graduate diploma in management from the Indian Institute of […]
Sony India started manufacturing of its BRAVIA television in India under a contract-partnership with Competition Team Technology (India) in Sriperumbudur, Tamil Nadu. To begin with, Sony will start manufacturing two models, both Android TVs in the initial phase. The first shipment commences from today, 4th August 2015. The move is likely to make the TVs […]
Telecom provider Bharti Airtel said that Manish Khera, Co-founder & MD of YTS Solutions will be appointed as CEO of Airtel M Commerce Services Limited (AMSL), which offers Airtel’s flagship semi-closed wallet under the brand name ‘Airtel Money’. YTS Solutions provides solutions of financial inclusion, micro banking and branchless banking. Once appointed, Manish will be […]
The Cellular Operators’ Association of India, which represents the interests of major telecom companies such as Bharti Airtel Ltd and Idea Cellular Ltd, has opposed any move to allow “a particular operator” (understood to be Reliance Jio) to use state-owned Bharat Sanchar Nigam Ltd’s cellular network for its voice services. “We are made to understand […]
Yamaha Motor India Sales Pvt. Ltd. announced that it has registered a growth of 16.5% in domestic sales during July 2015 as compared to the corresponding period last year, one of its best performances in recent months. “Along with its innovative efforts, ongoing customer-centric activities, exciting product line-up with the addition of recently launched stylish […]
Yamaha Motor India Sales Pvt. Ltd. announced that it has registered a growth of 16.5% in domestic sales during July 2015 as compared to the corresponding period last year, one of its best performances in recent months. “Along with its innovative efforts, ongoing customer-centric activities, exciting product line-up with the addition of recently launched stylish […]
IDBI Bank has launched a unique kiosk-based branch that will provide services such as issue of demand drafts and pay orders and request of cheque leaves 24×7. “IDBI Bank would be the first bank in the country to make available these services on 24X7 basis,” the government-controlled bank said. These Kiosks will also have the […]
Snapdeal, India’s largest online marketplace today and HDFC Bank Ltd. today launched a co-branded Visa credit card with lots of offers and discounts. The new card will offer Rs 500 cash back on spending Rs 5000 across any category on Snapdeal (for one time only.) It will also offer 10% cash back on Recharges & […]
Samsung Galaxy A8, the successor of the very successful Galaxy A7, has been launched in India at a price of Rs 32,500 – largely as expected. The actual market operating price will be around 30,000-31,000 once the A8 becomes available online. UPDATE: Sony has launched the 6-inch C5 Ultra, which will compete with the A8, […]
ICICI Bank Ltd, India’s biggest private sector bank, reported a 14% year-on-year increase in consolidated profit after tax to Rs 3,232 crore (US$ 508 million) for the quarter ended June 30, 2015 (Q1-2016) from Rs 2,832 crore (US$ 445 million) for the quarter ended June 30, 2014 (Q1-2015). Net interest margin improved to 3.54% in […]
Bangalore-based Ujjivan Financial Services has become the first microfinance institution in India to raise funds directly from mutual funds, and that too one of the largest mutual funds in India. It raised Rs 50 cr from an unnamed mutual fund by placing ‘commercial paper’ (a kind of debt). “This is the first CP issuance by […]
Expressing concern over steadily deteriorating situation with regard to call drops in mobile networks, ASSOCHAM today pointed out it is unfair to put the blame on the operators only since many of the critical factors causing the problem are not within the control of the telecom industry. Explaining the technical aspects of the paper, Mr. […]
Flipkart, India’s largest online marketplace, has launched India Art House – an exclusive store offering sellers a platform to promote regional products. Housing over 10,000 hand-made and traditional handicrafts products, customers will now be able to browse and shop for skilled-crafts from specific regions of their choice, the firm said. “India Art House truly embodies […]
Bharti Airtel Limited (“Bharti Airtel”), India’s biggest telecommunications company, today launched 4G trials for its customers in Shillong. With this, Airtel 4G trials are now going in Delhi, Mumbai, Chennai, Hyderabad, Coimbatore, Visakhapatnam, Mangalore, Mysore, Madurai, Tiruchirappalli, Vellore, Hubli, Dharwad, Bhubaneswar, Cuttack, Rourkela, Tumkur, Udupi and Manipal. “Airtel 4G enables superfast internet speeds and allows […]
