ONGC Videsh, India’s government-owned overseas petroleum company, increased its stake in Block BC-10, a deepwater offshore block in Campos Basin of Brazil, by 12% to 73%, the company said, blocking a move by China’s Sinochem to buy a 35% stake in the block. The Campos Basin is considered a promising hydrocarbon reserve of the future, […]
With a view to counter the attractiveness of Reliance Communications’ emi scheme for Apple iPhone and clear out existing stocks, Samsung has also tied up with credit card companies and Ingram Micro to offer a unique buy-back guarantee scheme for its mobiles. Under the scheme, which also enables the user to buy Samsung mobiles on […]
Analjit Singh, Chairman of Max India Group, dispelled suggestions that he was not paid his due share when Britain’s Vodafone Plc increased its stake in the company’s Indian arm to 100%. Singh said his stake was routed through various companies that in turn had debt obligations. As such, he explained in a statement, the amount […]
Indian IT professionals are likely to earn less dollars per hour this year as some IT companies have opted to compete by passing on the benefits of rupee depreciation, DHL said, quoting Crisil Research. Billing rates are likely to fall to 74.7 dollars (Rs 4,600) per hour for onsite workers, while they are likely to […]
Tata Consultancy Services, which employs nearly 2.85 lakh people, said it would set up the world’s largest corporate training center in Thiruvananthapuram in Kerala, overtaking Infosys’s Mysore training campus in size. The 6.1 million square feet facility will be able to train 15,000 people at the same time. Infosys has a Rs 260 crore corporate […]
Flipkart has launched arguably the best convertible laptop-cum-tablet device in India – the HP Pavilion Touchsmart 11-H009TU. The Touchsmart 11-H009TU will compete against the Asus T100, which was launched two months ago. However, the two are quite different, though technologically of the same era. First, the Asus model costs only around Rs 33,000, while the […]
Snapdeal.com has launched a same day delivery service which will allow consumers to get products ordered from Snapdeal to be delivered on the same day. All orders booked by or before 1PM will be attempted to be delivered on same day, Snapdeal said. The move comes a month after Amazon India announced a next-day-delivery scheme […]
Vodafone Essar continues to hold on to its lead in the Mobile Number Portability statistics, according to the latest data shared by the Cellular Operators’ Association (COAI), the GSM interest group. Vodafone, which has been leading the list of ‘net gainers’ — operators who have seen more people join them than leave them — continued […]
The bail plea of Prabhat Sharma, the Tata Steel official who has been booked for abetment to suicide, will come up for hearing in the Vasai sessions court on the outskirts of Mumbai tomorrow. The case was filed after Charu Deshpande, an ex-journalist who joined Tata Steel, committed suicide. It has been alleged that he […]
Infosys Ltd reported an impressive set of numbers of Friday, sending not just its own stock, but also those of other IT companies such as Tata Consultancy Services Ltd, HCL Technologies Ltd, Wipro Ltd also up by 1-2%. But a closer look reveals that Infosys’ performance does not hold very bullish outlook for the rest […]
Shopyourworld.com, a website that sells imported items in India, has become the first to launch Google’s Motorola Moto G smartphone in India, marking the return of the brand after a long hiatus. Motorola was once the number two mobile brand in India, ahead of Samsung and LG, and behind Nokia. However, the company, which was […]
Bharti Airtel Ltd said it has raised a further 250 million euros (Rs 2,100 cr) by reopening an earlier bond issue, preparing itself for the upcoming spectrum auction. Airtel has already raised 750 mln euros from the bond issue in December. Bharti is expected to bid aggressively for spectrum in the coming auction, and has […]
Warning against ‘agents of the Congress and the BJP’, the Aam Aadmi Party has called upon social activist Anna Hazare to give up his fast and join the electoral movement. “While expressing our full support for the cause for which Anna is fasting, we call upon him to give up his fast and join the […]
Loop Mobile has chosen the unexpected option of not participating in the upcoming spectrum auction, even though its spectrum and license will expire in November. That means the company is taking a big risk as the mobile operations were valued at about $0.8-1.0 billion in 2005 when it changed hands from long-time promoter BPL’s TPG […]
While housing prices in some markets in the country may see a correction, overall, property prices are not in a bubble situation, Keki Mistry, CEO of the Housing Development Finance Corporation (HDFC) of India said. Mistry, leading one of India’s biggest housing loans provider, did not seem overly worried about the possibility of a correction […]
A year after Starbucks entered India under alliance with the Tata group, the chain continues to grow fast – inaugurating its 27th store on Saturday in Mumbai. The store is Tata Starbucks’ 13th store in Mumbai. Starbucks entered the Indian market in October 2012 and operates cafes in Mumbai, Delhi NCR and Pune. Starbucks competes […]
Dabur, the brand that brought Tetrapak fruit juices to the Indian consumer, has entered the ‘milk shake’ market with the launch of Real Fruit shakes. The market is largely unexplored. Currently, milk-based products include flavored milk such as ‘badam’, vanilla etc, and yoghurts or traditional preparations. Real Fruit shakes are priced at Rs 105 per […]
With bulk of the speculative activity around rupee value in the foreign exchange market ebbing away, the dollar value is not likely to go beyond 62-63 even after RBI withdraws the temporary measures like direct sale of dollar to the oil importing companies and FCNR swap facility, an ASSOCHAM paper on Rupee Rate has said. […]
Bhim Singh, head of the Jammu & Kashmir based National Panthers Party has come out in support of former army general, VK Singh, but demanded that any ‘secret’ funds used for influencing politicans be made public. He called the allegations against former Singh “politically motivated, mala fide and without substance.” The Indian Express had written […]
The Indian mutual fund industry’s month-end assets under management (AUM) posted its fastest month-on-month percentage growth since April 2013 and was up by nearly 12% to Rs 8.34 trillion (Rs 8,34,000 crore) in October. The rise in AUM was primarily due to total net inflows of Rs 663 bn with liquid / money market funds […]
