Cox & Kings said its hotel subsidiary, Meininger, has signed “an agreement for a hotel in Reykjavik”, the capital of Iceland in Europe. The company did not clarify who will own the property, but it is likely that ownership will be with a third party, with Meininger managing the hotel. Meininger is a subsidiary of […]
Mahindra First Choice Services, the servicing arm of Mahindra & Mahindra, said it has agreed to acquire the assets of bankrupt auto-service chain Carnation Auto (India). The company did not disclose the exact number of service centers that will accrue through the deal, but said the acquisition will “add significantly” to its current network of […]
TVS Motor Co emerged as a strong performer in November, with a 28% jump in domestic two-wheeler sales volumes. This was far higher than the 0.8% jump shown by market leader Hero MotoCorp. TVS’ two-wheeler exports too jumped 24% during the month, taking the overall two-wheeler sales growth to 26% for the month of November. […]
HCL Technologies has been picked as the services partner for Broadcom’s enterprise software products, one of the two primary business units of CA Technologies, a software and solutions company that the chipmaker acquired earlier this year for $19 billion. HCL Tech will also take over some of the former employees of CA Technologies. “Effective immediately, HCL […]
Bajaj Auto reported a 45% jump in two-wheeler sales in India in November, while overall sales of two-wheelers and three-wheelers, including exports, were up 25%. India two-wheeler sales jumped to 2.05 lakh in November from 1.42 lakh last year. However, compared to October, sales were down from 2.82 lakh. Nevertheless, the performance is better than […]
Hero MotoCorp reported only a modest increase in November sales, after two months of record-setting performance. Overall two-wheeler sales came in at 6.10 lakhs in November, up from 6.05 lakh in the same month last year. In percentage terms, the increase is less than 1% (0.8% to be precise), despite it being a festival month. Compared […]
Brigade Group, one of Bangalore’s top two real estate companies, announced the launch of the last expansion of Brigade Meadows, an integrated township spread over 60 acres of land on Kanakapura Road in India’s IT capital. Brigade Meadows is already home to over 2,000 families, the company said. The last phase, to be called Plumeria […]
Ratings agency CRISIL has downgraded certain debt securities of Vodafone Idea Ltd by one notch, quoting conditions in the Indian telecom market. It downgraded Rs 6,000 cr worth of non-convertible debentures issued by Vodafone from AA- to A+. The highest rating in the scheme is AAA+, and the current revision represents a lowering of the […]
Tata Consultancy Services (TCS) said it will deploy an enhanced policy management solution for Phoenix Group, Europe’s largest life and pensions consolidator and a TCS client of 12 years. The move will not only give more advanced features for Phoenix Group, but also increase the number of Phoenix policies managed using TCS’s BaNCS platform to 5.5 […]
The Kerala unit of the BJP has decided to suspend its ongoing protests and demonstrations at Sabarimala temple, even as these seem to have resulted in an unusual decline in the number of pilgrims who undertook the annual pilgrimage this year. As part of the decision, Yuva Morcha, the youth front of the BJP, canceled […]
Maruti Suzuki, India’s largest car maker, said its premium hatchback, Baleno, averaged sales of 13,158 units since launch, crossing the 5 lakh mark this month. Moreover, sales in the first seven months of this financial year have been 20% higher than that in 2017. The numbers are surprisingly strong for a ‘premium’ car. Part of […]
Tata Consultancy Services said it has acquired the business of BridgePoint Group, LLC, a U.S. management consulting firm that caters to the financial services industry and specializes in retirement services, “through the purchase of select company assets”. The company did not disclose the value of the transaction. “TCS currently partners with eight of the top […]
The National Company Law Tribunal has admitted a petition filed by Sony Pictures Networks India Ltd against cable and broadband operator Ortel Communications. The petition, under Section 9 of the Insolvency and Bankruptcy Code of India, was for initiating insolvency proceedings against the cash-strapped cable and broadband operator. The NCLT also appointed an interim resolution […]
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, said it renewed its ‘global partner deal’ with golf player Tiger Woods, originally inked in 2014. Hero Motocorp said it will be the title sponsor of the 2018 Hero World Challenge golfing tournament hosted by Tiger Woods that will be played at Albany, Bahamas from […]
Inox Wind, one of India’s leading wind energy equipment makers, said it will launch turbines with a capacity of 3 million watts (MW) each, 50% more than the typical, large turbine sold in India. The new turbines, to be launched in technical collaboration with US-based AMSC, will help reduce power generation costs, the company said. […]
Pharma major Lupin said the US Food & Drug Administration has given it an Establishment Inspection Report for its Tarapur facility. The company had two months ago pointed out that the inspection, carried out in August, had been completed with one observation related to what it called a “procedural deficiency”. The receipt of an EIR is […]
Sun Pharmaceutical Industries said it agreed to acquire Pola Pharma Inc, a Japanese pharmaceutical company engaged in the research and development, manufacture, sale and distribution of branded and generic products in Japan for $1 million. Pola Pharma had annual revenues of approximately US$ 108 million and net loss of US$ 7 million for the 12 […]
Godrej Fund Management and Godrej Properties said they have entered into a joint venture agreement with Hero Cycles, which belongs to the same group as Hero MotoCorp, to develop an office complex at the cycle manufacturer’s four-acre property in Gurgaon. The ‘prime office property’ will have around 1 million square feet of prime office and […]
Sun Pharma Advanced Research Company Ltd, the research focused unit of Sun Pharma, said a trial of its cancer formulation, Paclitaxel Injection, “met all the endpoints” of a bioequivalence study and the company was looking forward to filing a new drug application. SPARC’s study involved Paclitaxel and Abraxane. If two products are said to be bioequivalent it […]
Vodafone Idea, the company formed out of the merger of the former No.2 and No.3 telecom operators in India, said it will eliminate around 16,000 distributors, close over 2,000 branded stores in urban areas and slash the number of call centers by more than half. The moves are aimed at reducing operating costs and helping […]
