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 […]
Almost exactly a year after Arnab Goswami’s Republic TV invited the ire of many Malayalis for its allegedly biased coverage of the state, Goswami and online Malayalis are at it again — this time over a ‘shameful’ remark over those who accuse the BJP-led central government of blocking foreign aid destined for the flood-hit state. […]
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 […]
SpiceJet, one of India’s largest airlines, said it has started 18 new temporary flights to help deal with the cancellations of flights to and from Kerala due to the ongoing flights. Some of these flights were operational only today, while some will be there for three days, while others will be there daily for the […]
Credit rating agency India Ratings and Research has awarded its top AAA rating to Motherson Sumi Systems, the auto components manufacturer said. Ind-Ra, a unit of global rating agency Fitch, took into consideration the company’s strong trackrecord and diversified client-based to issue the rating. “MSSL’s diversified customer base and product profile, strong track record of […]
GAIL India Ltd said it awarded the first contract for purchase of the 108 km, 24-inch diameter pipes under the Barauni—Guwahati segment of the Jagdishpur—Haldia & Bokaro-Dhamra Natural Gas Pipeline (JHBDPL) project to M/s Ratnamani for Rs 125 crore. “Line pipe procurement activities for the rest of the 600 km trunkline upto Guwahati is at […]
Infibeam Avenues, one of India’s largest home-grown e-commerce companies, reported a standalone loss of Rs 14 cr for the first quarter due to a sharp increase in payment gateway charges. While operating revenue for the Apr-Jun quarter increased sequentially by Rs 5.3 cr to Rs 91.34 cr, payment gateway charges jumped by a whopping Rs […]
India’s biggest drug maker Sun Pharmaceutical Industries reported strong numbers for the first quarter of Apr-Jun this year, with rising sales lifting margins and profits. Overall sales rose 16% on year to Rs. 7,139 crores, led by growth in key geographies such as the US, India and emerging markets. This was partly on account of […]
Hero MotoCorp Ltd., the world’s largest two-wheeler manufacturer, said it will start shipping its first premium motorcycle, the Xtreme 200R, from its factories next week. This marks the end to a long period of waiting for the fans of the machine that is priced at Rs 90,000 in Delhi, which is about 10% cheaper than […]
Indian banks will need between $40 bln to $55 bln (Rs 2.8 lakh cr to Rs 3.8 lakh cr) of additional capital to meet the Basel III capital adequacy norms set to come into effect next year, Fitch Ratings said, adding that most of the money will have to be put in by the tax […]
Jaguar Land Rover today reported total retail sales of 36,144 vehicles in July 2018, down 21.6% year on year, primarily, it said, reflecting “transitional issues” in certain markets. Retails for July were down in China (46.9%), reflecting continued market volatility in the first month of the duty change as well as trade tensions. Sales were […]
Future Retail, the country’s largest brick-and-mortal retailer with over 1,100 stores, reported an overall improvement in its profits margins in the Apr-June quarter. The improvement was largely the result of a slight dip in operating expenses, even as sales fell as the company shut unprofitable outlets. Excluding such stores, sales improved 7.1% on year. Net […]
