ONGC said the government of Mozambique has approved the field development plan for a gas field in ‘Area 1’, one of the largest gas blocks in East Africa. ONGC owns 16% of the block, while 4% of the block is owned by Oil India Ltd and another 10% is controlled by Bharat Petroleum Corporation Ltd […]
Anil Ambani Group controlled Reliance Infrastructure said it has issued a notice of arbitration against the founders of Pipavav Defence and Engineering Limited seeking Rs 5,440 cr for “breach of warranties”. Reliance Infrastructure emerged as the biggest shareholder in Pipavav Defence and Engineering Limited in 2015, and subsequently renamed it to Reliance Naval and Engineering Limited. […]
Matrimony.com, the company behind India’s largest matchmaking service bharatmatrimony.com, said it acquired divorcee-oriented secondshaadi.com for an undisclosed amount. “Secondshaadi.com is one of the early movers in this space and has built a good brand name,” said the acquirer. “Buying secondshaadi.com will help us consolidate our offerings and help divorcees and widowers get wider choices than […]
After a strong January performance, automaker Mahindra & Mahindra reported more modest growth for February, with total auto sales growing by 19% against 32% in January. Total sales figure was at 51,127, slightly below the 52,048 recorded in January. With this, the company’s total sales in the 11 months of the current financial year are […]
Tata Motors reported a growth of 38% for its domestic auto sales for February, boosted by strong sales of SUVs as well commercial vehicles. Sales of commercial vehicles, which rose 36% on year, accounted for 41,222 out of the 58,993 total automobiles sold in February. The growth rate is slightly below the 38% seen in […]
Reliance Digital TV, the DTH service that was recently sold by Anil Ambani Group to investors led by Pantel’s Vijender Singh, has taken a leaf out of Reliance Jio’s Jiophone scheme to come back into the market. The company is offering a ‘free DTH connection for 1 year’ in return for a refundable deposit of […]
India’s largest carmaker Maruti Suzuki India said its monthly auto sales jumped 15% in February, after a disappointing growth of only 4.8% in January. The company reported total auto sales of 1.50 lakh in February compared to 1.30 lakh in the same month of last year. In the previous month of January, it had reported […]
Bajaj Auto reported yet another month of strong sales in February, with overall motorcycle sales rising 21% on year to 2.98 lakh units. In January, they were up 36% to 2.89 lakh. Domestic sales of motorcycles were up 23% at 1.75 lakh in February compared to an increase of 36% seen in January to 1.63 […]
Road developer Dilip Buildcon said it has been declared the lowest bidder for three projects of the National Highways Authority worth Rs 5,390 cr in total. The first two projects are for six-laning a 117.3 km stretch of the Bangalore-Mysore NH 275, while the third one is for the six-laning of NH 2 from Khairatunda […]
Construction company Dilip Buildcon said it has been awarded two contracts by the National Highways Authority of India for a combined total of Rs 1050 cr. The bigger contract, worth Rs 670.50 cr, has been awarded for road development work in Uttar Pradesh, while the 380.07 cr contract is for work in Karnataka. The company […]
CMR, part of CyberMedia, said a total of 14.83 cr 4G LTE devices were sold in India during 2017 — or one for every 5 adults in the country. The number of 4G devices sold in the country rose 80% compared to 2016, it added. This includes mobile phones, tablets and dongles and mifi devices. […]
Tata Sky, the country’s largest distributor of television content, has taken decided to take on JioTV and other emerging content distributors with an online streaming website of its own. The DTH provider’s online video and TV service can be accessed at ‘watch.tatasky.com‘ and currently has around 250 live television channels, compared to over 550 on […]
Reliance Infrastructure, the construction and infrastructure arm of the Anil Ambani Group, said it got permission from the ministry of coal to increase its coal mining by about 6%. Sasan Power Project “has received permission from the ministry of coal, government of India.. to increase coal mining from 17 mln tonne per annum to 18 […]
Bharti Airtel said it will launch affordable 4G smartphones powered by Google’s Android Go platform next month, under a tie-up with handset makers Micromax and Lava. “Entry level 4G smartphones under Airtel’s ‘Mera Pehla Smartphone’ program will be shipped with Android Oreo (Go edition) as standard OS starting March 2018,” the telecom operator said. “Lava […]
So far, Donald Trump has earned many fans in India for his tough stance on terrorism, especially that emanating from India’s western neighbor Pakistan. Soon, he may win over a new class of fans — bikers — thanks to his latest attempts to reduce import duties Harley Davidson bikes in India. India has a policy […]
Pharma major Lupin said it has launched a testosterone topical solution in the US for males suffering from the deficiency of the hormone. Lupin’s Testosterone Topical Solution is the generic equivalent of Eli Lilly and Company’s Axiron solution, Testosterone Topical Solution, 30 mg per actuation had annual sales of approximately $179 million in the US, […]
Anil Ambani Group’s Reliance Infrastructure Limited said it won an arbitration award of Rs 292 crore against Government of Goa. The Arbitration Tribunal, in its award on February 16, 2018, ordered Government of Goa to pay Rs 292 crore to Reliance Infrastructure Limited by April 15, 2018, it said. “The need for arbitration arose due […]
Bangalore-based real estate player Prestige Estates Projects said Singapore-based GIC Realty Pte Ltd, the country’s sovereign wealth fund, has signed a term sheet to explore the possibility of acquiring a ‘significant minority’ stake in the Indian company’s commercial buildings business. The term sheet is to explore an investment by Reco Jade Ind Pvt Ltd, a […]
Pharma major Strides Shasun said it has decided to launch the ‘over the counter’ version of ulcer drug Ranitidine in 150 mg dosage in the US markets immediately. Strides Shasun is already a key player in the US Ranitidine market with 32% market share through its prescription version in 150 mg and 300 mg doses. […]
Sterlite Tech, India’s biggest fiber cable maker, said it won a Rs 3500-crore order to design, build and manage a communications network for the Indian Navy. The advance purchase order requires Sterlite Tech to design, build and manage the communications network for over a decade. The project includes the creation of a high-capacity IP-MPLS (Internet […]
