Japan’s Sumitomo Group has acquired the car lease division of Carzonrent India Pvt. Ltd. Carzonrent group also owns Easycabs and MYLES, which are not part of the transaction. Financial details of the deal were not revealed. The main (original) company will continue to use the Carzonrent brand. In a statement, Carzonrent said it “has realized […]
Reliance Communications will launch a competitor to popular messaging applications WhatsApp and Viber. The application will support both text and voice messaging and calls. The company has seen its SMS revenue take a hit due to the emergence of WhatsApp, Viber and other similar messaging or OTT applications. “The application is in pilot stage and […]
The exit by US fund Bain Capital from Indian motorcycle maker Hero MotoCorp was the biggest in the second quarter of 2014, a report by Pricewaterhouse Coopers said. Bain Capital sold Hero MotoCorp shares worth $245 mln (close to Rs 1,450 cr), making it one of the biggest private equity exits of the year, according […]
The private equity investments in India sustained their past performance for the second quarter of the year (April to June 2014). PE firms invested 2.83 billion USD across 95 deals, registering a growth of 7 percent in value over the preceeding quarter. However there was a 20 percent drop in volume in this period. In […]
Jet Airways, India’s premier international airline, today, announced competitive and attractively priced celebratory fares for travel in the coming New Year. These special economy class fares are on sale effective September 29, 2014 to October 01, 2014, and valid for travel anytime between January 16, 2015 and August 25, 2015, onboard the airline’s domestic flights […]
Hines, the international real estate firm, has launched a new $250 mln investment vehicle known as Hines India Residential along with an international partner for investment into the Indian housing real estate sector. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest […]
Flipkart’s Myntra.com today announced the launch of ‘Designer in Residence’ program under its Myntra Fashion Incubator (MFI) initiative to “inspire young entrepreneurs and designers who have a flair for the business of fashion.” Myntra is now inviting applications from all design graduates and fashion entrepreneurs to incubate their business under the ‘Designer in Residence’ program. […]
The Government of Andhra Pradesh and Google India signed a Memorandum of Understanding (MOU) today to support Chief Minister N. Chandrababu Naidu’s vision of transforming the state of Andhra Pradesh to “Digital AP.” To realise this vision, Google India – in collaboration with the Andhra Pradesh state government – will launch a number of initiatives […]
Tata Motors said it had appointed Mayank Pareek as President, Passenger Vehicle Business Unit (PVBU). He will join the company on 1st October, 2014 and will take over from Mr. Ranjit Yadav, who will now head the International Business for Passenger & Commercial vehicles. Tata Motors has seen its presence in the car market erode […]
LG Electronics India will launch the LG L Bello, priced around Rs 15,500, in India next week, and will follow it up with the launch of L Fino in coming days. The LG L Bello and L Fino are mid-range variants that espouse LG’s new aesthetic reflected in the LG G3. While the Fino is […]
Sometimes, you have to give it to marketing departments of phone companies. They are optimistic. Such is the case of Samsung in India, which has just launched its latest model smartphone, the Galaxy Alpha, in India at a price of Rs 40,000 ($660). Now, 40,000 is really a lot of money, and you’d be forgiven […]
Nokia is gearing up for its biggest launch of this year so far – the Nokia Lumia 930 and the 830, and the phones are likely to set new benchmarks in value-for-money in the higher end segment. UPDATE- Nokia is launching the Lumia 830 on Wednesday in Mumbai. Expected price Rs 22,000. The Lumia 930, […]
Flipkart has started shipping the Moto X2 Second Generation, also known as the Moto X+1 2014, to users in India. The phone, arguably the most value for money high-end smartphone in India, was listed for preorder earlier this week on Flipkart at a price of 32,000. The white version is priced at Rs 34,000. The […]
HTC One DS, India’s first CDMA EVDO Rev B phone with 3G, has been launched by Reliance Communications at a price of Rs 43,299. Add Rs 16,500 and you’ve got unlimited SMS, phone calls, roaming and data on Reliance as well. What must be noted is that not only is this India’s first EVDO Rev […]
India Tablet PC Market shipments volume reached 3.44 million units for the year ending June 2014, according to research by 6Wresearch India. In comparison, an estimated 250 mln mobile handsets are sold in India in a year, including around 50 mln smartphones. Samsung continued its dominance in the India Tablet PC market followed by Micromax […]
US policy-makers, think tanks, Congressional leaders across the bi-partisan line and most significantly CEOs of the top Fortune 500 companies believe that Prime Minister Mr Narendra Modi and his NDA Government can deliver and transform India into a modern nation with democratic values and America Inc would like to engage with this transformation, according to […]
The deallocation of coal blocks by the Supreme Court will hit metal players harder than most power players, Crisil Research said in a report. Power costs in West Bengal and Punjab could rise, it added. It said power generation companies will be able to pass through increased costs, but not metal companies. Coal is used […]
Hindustan Unilever Limited, India’s biggest FMCG company, said it has changed its sales and customer development head. It said it has appointed Punit Misra, currently Vice President for Route To Market (RTM) for Distributive Trade/Traditional Trade and Cash & Carry, as Executive Director and Vice President, Sales and Customer Development. Misra will be part of […]
If you haven’t already booked tickets yet, SpiceJet is offering yet another sale for travel between Oct 28 to March 31, with the exception of Dec 16 to Jan 14. It is promising a 50% discount on ticket fares. However, we would request readers to find out for themselves as often most of the main […]
The Telecom Regulatory Authority of India has started consultation on how to promote broadband penetration in the country through both wireless, copper and fiber technologies. “India ranks 125th in the world for Fixed Broadband penetration with only 1.2 per 100 inhabitants having access to fixed broadband. With the world average being 9.4 per 100 inhabitants, […]
