Mahindra & Mahindra has unveiled its next SUV, the Marazzo, at a price that is considerably below what the market was expecting. While the ‘shark-inspired’ UV was supposed to be priced in the same range as the XUV500, the actual starting price is about 20% below that of the 500. Against Rs 12.6 lakhs for […]
Bajaj Auto, one of India’s biggest two- and three-wheeler makers, reported relatively strong auto sales numbers for August. Total sales came in at 4.37 lakh, up 30% over 3.35 lakh in August last year. Growth was led by exports, even as the floods in Kerala dampened domestic growth slightly. Total exports for the month was […]
IT outsourcing firm Wipro said it has won a $1.5-1.6 bln deal from US-based Alight Solutions LLC in what it called “Wipro’s largest win to date”. The Bangalore-based company also announced that it has acquired Alight HR Services India Private Ltd, presumably the India unit of the same company. Under the 10-year deal, Wipro will help overhaul […]
Vodafone India and Idea Cellular have completed the merger of their operations in India, creating India’s largest telecom network with over 3.4 lakh 3G and 4G cell sites. In comparison, Bharti Airtel has around 3.2 lakh wireless broadband cell sites and Reliance Jio has an estimated 2.5 lakh 4G base station. In terms of subscribers […]
ITI Ltd, the government of India concern formerly known as Indian Telephone Industries Ltd, said it has been handed over 6,945 cells sites by state-owned Bharat Sanchar Nigam Ltd or BSNL for management and marketing. “ITI has received an Advance Work Order from BSNL for the Operation and Maintenance and Sales & Marketing of the […]
Zydus Cadila said it received the final approval from the USFDA to market cholesterol-lowering Gemfibrozil and antipsychotic Aripiprazole in the US. Gemfibrozil Tablets are used together with diet to treat very high cholesterol and triglyceride levels in people with pancreatitis. It is also used to lower the risk of stroke, heart attack or other heart […]
Reliance Infrastructure Ltd said it has completed the sale of its Mumbai power business to Adani Transmission for Rs 18,800 cr. Out of the total amount, it has already got Rs 13,800 cr, and has used the amount to pay back its debt. It will get another Rs 5,000 cr next year. “Regulatory Assets under […]
Jet Airways, which is in the middle of implementing cost cutting measures, said it will introduce 28 new flights in the coming month. Among the new routes are daily flights from Indore, connecting the ‘largest city in Madhya Pradesh’ to Jodhpur as well as to Vadodara. It will also commence flight operations between Chandigarh and […]
Vedanta Limited, which operates the country’s largest on-shore petroleum mining facility, said it has emerged as the favored bidder to explore 41 oil and gas blocks in India at a cost of US$551 million (Rs 3,900 cr) over the next six years, including 8 offshore blocks. It is eligible to mine and sell the petroleum […]
Parag Milk Foods said it has started targeting the North Indian market more effectively as it has operationalized its recently acquired Danone milk plant in Sonipat in Haryana. The plant was acquired in April. So far, the company had to rely on its Maharashtra milk plant to supply products to Delhi and other North Indian […]
Airtel and Netflix announced an expansion of their partnership in India through which the telecom operator will sell and promote Netflix content to its customers. Airtel TV, the video app from the operator, will have a dedicated row of Netflix content. It is not clear how much of the content will be made available on […]
Two days after announcing the completon of a transaction to sell some of its physical assets to Reliance Jio, Anil Ambani-led Reliance Communications said it has sold its fibre-based assets to Jio. Like in the previous case, the company did not specifically mention the amount that it would generate from the transaction, but said the […]
Reliance Communications Limited (RCOM) said it has completed the sale of assets worth around Rs 2,000 cr to Reliance Jio Infocomm under the broader asset sale agreement. The Anil Ambani company did not clarify how much money was raised via the sale. RCom sold what it calls ‘media convergence nodes’ or MCNs and related infrastructure […]
Reliance Power said it has been awarded damages of $56 Million, or about Rs 390 cr, by an arbitration panel in Singapore in relation to the acquisition of three mines in Indonesia. Reliance Power, an Anil Ambani Group company, had signed an agreement with Indonesia’s Sugico Group eight years ago to acquire three coal mines. […]
The board of directors of Jet Airways, the body that acts as the representative of all shareholders, will on Monday consider the cost cutting measures proposed by the management of the airline, the company said. “The Audit Committee and the Board of Directors at their meeting scheduled to be held on Monday, 27 August 2018, […]
GIC, Singapore’s sovereign wealth fund, is acquiring a “significant minority stake” in Provenance Land, said the developer that partners with Canada’s Four Seasons Hotels to run the Four Seasons Hotel in Mumbai. The investment will be in an entity that owns the property on which the hotel operates, another under-construction Four Seasons branded apartment complex […]
Airtel has announced simplified international roaming tariffs under a minutes-pack concept. Unlike other, more complicated tariffs, the new packs offer a certain number of minutes for international travellers that can be used to make either local calls in the foreign country or calls to India. The 20-minute pack is priced at Rs 196, which works […]
SpiceJet said it would start six new daily direct flights on both domestic and international routes starting from 10th October 2018. These flights cover Hyderabad, Guwahati, Patna and Bangkok. There will be new daily flights from Hyderabad to Bangkok. The inaugural fare from Hyderabad to Bangkok will be Rs 9,999 and the return will be Rs 8,299. […]
Pharma major Lupin said it has launched corticosteroid cream Clobetasol Propionate in the US. The cream is the generic equivalent of Fougera Pharmaceuticals Inc.’s Temovate. Clobetasol Propionate Cream USP 0.05% had annual sales of approximately USD 108.6 million in the US. It is used for the relief of the inflammatory and pruritic (itchy) manifestations of corticosteroid-responsive […]
Maruti Suzuki, India’s biggest carmaker, said it will contribute Rs 3.5 cr, including employee contributions, to the Prime Minister’s National Relief Fund in the context of floods in Kerala. “With regard to the recent floods and colossal damages in Kerala, Maruti Suzuki stands with the people of Kerala and prays for quick rehabilitation of all […]
