India’s train passenger numbers are down nearly 99% for the five months from April to August, while freight volumes are down only 13% during the same period, Railway Minister Piyush Goyal said today. “Owing to the discontinuance of passenger services after the introduction of the lockdown to contain COVID-19 pandemic, upto the end of August, […]
Ministry of Railways, Government of India today said Indian Railways collected Rs 433 cr from the nearly 63 workers who were mass-evacuated using Shramik Special trains during the COVID-19 lockdown. However, it maintained that it did not charge the workers any money, and the amount was collected from those who organized Shramik trains — primarily […]
The Uttar Pradesh government has capped the maximum price chargeable by private laboratories for testing for COVID-19 at Rs 1,600 with effect from tomorrow, Sep 11. Earlier, the maximum rate was Rs 2,500. The 900-rupee reduction has been made keeping in mind the higher availability of testing COVID-19 testing kits in the country and with […]
Jubilant FoodWorks, the company behind Domino’s Pizza and the franchisee for Dunkin’ Donuts in India, reported a growth of 10% in its delivery sales and 55% in its take-away sales for August compared to the same month of last year. However, dine-in sales were still down 84% compared to August 2019, resulting in a net […]
When Mukesh Ambani announced the tariff plans of Reliance Jio Fiber a year ago, most of the people who were eagerly waiting for the commercial services to launch were disappointed as there was nothing special about the company’s tariff card. However, its rivals were relieved, because their fears about a mega disruption in the market […]
A total of 58 lakh people are likely to have been already infected by Coronavirus by the first week of this month, nearly 41 times higher than the official figure of 1.4 lakh at the time, according to the latest COVID-19 sero-survey in the capital city. The estimate for Delhi is also twice as high […]
Maruti Suzuki India said it has tied up with NS Raghavan Center Entrepreneurial Learning at IIM Bangalore to scout out start-ups in the automobile sector. Maruti Suzuki, India’s biggest carmaker, will look for technology-based innovations that can be applied in the mobility sector. Among the focus areas will be digital, data and AI/ML in the […]
North India-focused fashion retailer V2 Retail Ltd reported an 82% fall in its sales for the Apr-Jun quarter, as the COVID-19 pandemic hurt consumer sentiments and frequent lock-downs disrupted store operations. Revenue from operations fell to Rs 37 cr from Rs 202.3 cr in the year-ago period and Rs 129.2 cr in the March quarter. […]
Sun TV Network, one of India’s top three home-grown broadcasters, said it did not expect a negative impact on its subscription revenue due to the implementation of TRAI’s amended television tariff order or NTO 2.0. The company said it was confident of working out a way to make sure that the average amount paid by […]
AM Naik, chairman of the country’s largest infrastructure development company Larsen & Toubro, today called upon the government to create the right ecosystem to channel the anti-China sentiment productively. “The strong anti-China sentiment within India and around the world is a possible game changer for domestic industry,” he said, delivering the chairman’s statement at the […]
DB Corp, the company that owns the Dainik Bhaskar daily and My FM radio network, said a sharp fall of 76% in its advertising revenues pushed it to a loss in the Apr-Jun period. DB Corp’s advertising revenue fell to Rs 107 cr from Rs 442 cr for the same quarter of last year. The […]
After getting postponed several times, an application by broadcasting companies such as Zee Entertainment Enterprises against the latest TRAI directive to implement the new tariff order has been listed for hearing tomorrow morning. The application was originally listed before the Bombay High Court for hearing on last Thursday, but there was no hearing on account […]
Continuing the theme of TV news companies defying the trend of the COVID-19 pandemic pushing media firms into losses, NDTV reported a profitable quarter for the Apr-Jun period and said it has reversed the pay-cuts installed for most of its employees. This follows rival TV Today also bucking the trend and reporting a profit of […]
Major television channel broadcasters had a disappointing Friday as their application against TRAI’s move to impose the new tariff order could not be heard due to paucity of time, marking the second day the application has been listed and went unheard. Big broadcasters had approached the Bombay High Court earlier this week against TRAI’s Aug […]
TV Today Network Ltd, the company that operates India Today and Aaj Tak news channels, reported better than expected numbers for the Apr-Jun period, thanks to surprising resilience in its TV channel revenues.. India Today, which depends on advertising for nearly all its top line, saw revenue from its TV broadcasting business fall by about […]
Bombay High Court will tomorrow hear a plea filed by various channel broadcasters against TRAI’s direction two weeks ago asking them to publish new channel and pack prices in line new rules issued on Jan 1 this year. UPDATE: Hearing on the matter has been pushed to Friday, Aug 7. On January 1, TRAI had […]
Bharti Airtel, which announced a program to partner with cable operators after Reliance Jio acquired Den and Hathway, said it has cracked the best model for the partnership and is planning to rapidly expand the program in the next 6-12 months. Airtel announced its cable operator collaborative program in late 2018, and has been trying […]
Punit Goenka, MD and CEO of Zee Entertainment Enterprises, hinted that his company may follow suit after Sony Pictures Networks shut down some channels due to evolving market conditions. “We constantly re-evaluate our portfolio of content offering that’s out there, whether in linear form or digital form. And we have taken certain decisions in the […]
Tata Motors and JLR’s bet on reviving the original spirit of Land Rover with the Defender brand seems to be paying off, with the first model already notching up enough orders to keep the production lines busy for the rest of the year. Adrian Mardell, Chief Financial Officer of Jaguar Land Rover, called the launch […]
Ministry of Health and Family Welfare today ruled out achieving herd immunity — developed as a result of a large portion of the population getting infected — as a workable strategy for India in its fight against COVID-19. Rajesh Bhushan, officer on special duty at the ministry, said the government cannot have a strategy based […]
