The country’s largest packaged fruit juice maker Dabur India said it was entering the fruit-based Mocktail category under its Réal brand. The Réal Mocktails have been launched in two variants – Virgin Mary and Virgin Pina Colada. The Réal Mocktails will be available in 1-litre Tetrapaks, priced at Rs 110, it said. The company currently […]
Adhesive manufacturer Pidilite Industries said it would return up to Rs 500 cr to its shareholder by way of a share buyback. The company’s board approved a buyback proposal for up to 5 mln shares at a price of Rs 1,000 each, aggregating to Rs 5 bln (500 cr). The shares are being traded at […]
Pharma manufacturer Dr. Reddy’s Laboratories said it launched a generic version of chemotherapy drug drug Alkeran. The drug is used for palliative — or relief-oriented — treatment of multiple myeloma and epithelial carcinoma of the ovary. The Alkeran brand and generic had U.S. sales of approximately $107 million MAT for the most recent twelve months […]
The Reserve Bank of India has released the list of Indian banks and their non-performing assets as of September 30, 2017, the latest period for which financial data is available. The total non-peforming assets, or bad loans, has risen to 8.37 lakh cr — a burden of around 20,000 for each working person in the […]
The pace of bad industrial debt written off by public sector banks in India increased substantially this year, according to RBI data. In the first six months of the financial year (April to September), public sector banks wrote off 36,510 cr of bad industrial debt, compared to only 2,369 cr of agricultural debt. If the […]
With Reliance Jio unveiling its first monthly tariff plans, all eyes are now on the incumbents — Bharti Airtel, Idea Cellular and Vodafone — to see how they will respond. Industry sources believe that the three operators will unveil a new 199 plan which gives 1 GB of data per day for 28 days to […]
As expected, Reliance Jio has launched its first monthly plans — Rs 199 for 1.2 GB per day and Rs 299 for 2 GB per day. The plans were anticipated after the newcomer unveiled its permanent plans on Diwali — more than a month ago. The plans price data at roughly the same levels as […]
The total amount raised via initial public offering of equity shares in the first eight months of the current financial year is more than the total proceeds raised in the previous five years, according to SEBI data. A total of Rs 62,736 crore has been raised in April-November period, higher than the Rs 62,147 raised […]
Jet Airways said it will hold an 11-day sales starting tomorrow with 10-15% discounts. “With a flat 10% off on base fares in Economy and up to 15% off on Premiere fares, guests will be able to realise attractive savings on popular sectors across the airline’s domestic network of 44 destinations in the New Year, […]
Hero MotoCorp, the world’s largest two-wheeler manufacturer, said it will increase the price of its motorcycles by an average of Rs 400 each from January 1. This is being done to “partially off-set the rising input costs,” it said. However, cheaper models are likely to see a lower increase and higher-end models are likely to […]
The government of India said there was no change in its plans to set up a mega nuclear plant in Kovvada in Andhra Pradesh with bankrupt US technology provider Westinghouse. However, said the Department of Atomic Energy, the two parties are yet to arrive a “viable project proposal”. “Discussions are in progress between Nuclear Power […]
India has plans to increase the output of uranium — the key fuel used in its nuclear weapons program — by ten times by 2031-32 and achieve self-sufficiency, the Department of Atomic Energy said. India is estimated to have 232,315 tons of uranium contained in deposits of 273,956 tons of tiiuranium octoxide. Even though the […]
Ortel Communications, which provides broadband services in Odisha, Chhattisgarh, Andhra Pradesh, Telengana, West Bengal and Madhya Pradesh, has announced new plans in line with the cheapest 4G plans offered by rivals like Reliance Jio. It has also cut prices for its high-volume plans. The Rs.99 plan will give 500 MB data per day @ 2Mbps, […]
The decision by a trial court in Delhi’s Patiala House complex to dismiss charges of corruption and conspiracy against former telecom minister and others in the 2G scam case has created a curious legal imbroglio as the order seems to fly counter to the Supreme Court’s verdict in the 2G scam case. The special court […]
Suven Life Sciences Ltd said it has been granted one patent each in Canada and India for drugs for treating Neurodegenerative diseases. The Canadian patent 2932428 is valid through 2034 and the Indian patent 289123 is valid through 2028. The chemical entities are considered useful in the treatment of cognitive impairment associated with neurodegenerative disorders […]
Steel Authority of India Ltd, one of India’s top steelmakers, said it has approved giving voluntary retirement compensation to 1,269 employees totaling Rs 254 cr. The figure comes to about Rs 20 lakhs per employee on average. VRS 2017, as the scheme is called, will result in savings of Rs 127 cr per year for […]
Bank of India said the Reserve Bank of India has placed it under the ‘Prompt Corrective Action’ framework, a set of restrictions aimed at preventing further deterioration in the health of a bank. It said the action followed an onsite inspection by the RBI. “This is in view of high net NPA, insufficient CET1 capital […]
State-owned Bharat Sanchar Nigam Ltd is currently testing an intra-circle roaming agreement with Reliance Jio in Karnataka circle, telecom minister Manoj Sinha said. However, he did not clarify whether the agreement was to allow BSNL users to tap into Reliance Jio’s 4G service or to allow Jio users to access BSNL’s 2G service. However, the […]
Bharat Sanchar Nigam Ltd, the government-controlled telecom company, is likely to start its 4G services with a modest 10,000 towers. In comparison, players like Idea Cellular, Vodafone and Bharti Airtel have between 50,000-100,000 4G towers, while Reliance Jio has around 200,000 LTE base stations. BSNL has planned for only 10,000 4G node B or base […]
Shareholders of Tata Teleservices Maharashtra Ltd — the listed unit of Tata Tele — will get one share of Bharti Airtel for every 2,014 shares held by them, the company said. The ratio of share issue indicates that the consumer mobile business of Tata Telservices Maharashtra Ltd accounts for only 3.77% of the equity value […]
