Not a single employee was laid off or removed as part of the merger of five associate banks with State Bank of India, the government said, adding that the bank had no plans to offer VRS options to its employees. “SBI has informed that no employee has been removed after merger and no application was […]
Amara Raja Batteries Ltd said it has inaugurated the first phase of its two-wheeler battery plant in Chittoor with a capacity of 5 mln units per year. Before this, the company had a capacity of only 12 mln two-wheeler batteries per year. The new plant will have an ultimate capacity of 17 mn units with […]
Coal India, India’s primary supplier of domestic coal, said it would impose a charge of Rs 50 per tonne on all customers except those who are availing its ‘rapid loading’ facility. It said the extra charge will general around Rs 2,500 cr per year. For the remaining three months of the financial year, it would […]
Vodafone India announced a cash back deal on itel’s A20 4G smartphone. Under the scheme, anyone who buys the mobile phone for Rs 3,690 will get a cashback of Rs 900 after 1.5 years and Rs 1,200 after another 1.5 years. However, the person has to use the specified Vodafone number on the device and […]
FICCI’s latest quarterly survey on Manufacturing indicates a pause in the steady improvement seen in optimism on quarterly production levels. The percentage of respondents expecting production in the current quarter (Oct-Dec) to be higher than last quarter fell to 47% from 50% three months ago. It is among the lowest scores in the last two-and-a-half […]
NDTV said it has decided to fire up to 25% of its workforce over the next one month to focus more and more on its core news business. The fired employees are currently engaged with the company’s non-core operations. “As intimated earlier to the exchanges, NDTV Group had initiated a turnaround plan to bring down […]
The European Investment Bank, the lending arm of the European Union, will invest $200 mln (Rs 1,283 cr) into the Indian solar and power sector via a deal with Yes Bank in order to support the growth of renewable energy in the country. The investment will be routed through a renewable financing program with Yes […]
Ahmedabad-based Lincoln Pharmaceuticals said it developed a painless form of malaria injection and has also received a patent in India for the same. It said it expects to increase its exports of anti-malarial treatments by 70-80% thanks to the invention. At present, the Arteether anti-malarial injection available in market are in 3 ml and 2 […]
Samajwadi Party chief Akhilesh Yadav has suggested extending reservation benefits not only to Patels, but to all forward communities as well. “Do a census and give everyone reservation according to their population. Nobody will be angry,” Yadav said, when asked about how to deal with the current agitation by the Gujarati community seeking greater educational […]
Bharti Airtel Limited said it has agreed to acquire 100% of Tigo Rwanda Limited, the local unit of Millicom International Cellular S.A.. Airtel already has operations in Rwanda and the acquisition “will consolidate the Rwandan telecom market and position Airtel as a strong number 2 operator in Rwanda,” it said. The consideration for the transaction […]
Film producer Eros International said it has tied up with Manish Mundra’s Drishyam Films to co-produce four “new wave” films. Drishyam is the film maker behind titles such as Masaan, Rukh, Kadvi Hawa and Newton, India’s entry to the Oscars in the Foreign Film Category this year. Eros has already tied up with Drishyam for […]
JioTV, the IPTV service from Reliance Jio is now available on the open Internet as well. Live TV channels can be watched by anyone on their PC using a Jio ID and an Internet connection. The Jio ID, however, can be set only by using a Jio phone number and a one-time password. The service, […]
India had good news on the foreign trade front as exports continued to grow fast, overtaking the growth in imports. However, there was no relief from continued trade deficit as the absolute import figure was substantially higher than exports. Exports during November 2017 rose 30.55% in dollar terms when compared with the same month last […]
Bharat Heavy Electricals Limited said it won a Rs 7,300 cr order to set up a 1,320 MW Supercritical Thermal Power Project (TPP) in Tamil Nadu. Valued at over Rs.7,300 Crore, the order for setting up the 2×660 MW Udangudi TPP has been placed on BHEL by Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), […]
Broadcasting company TV Today Network said it has decided to write off nearly Rs 273 cr of accumulated losses at its Mail Today newspaper business and merge it with the parent company for better synergies. TV Today Network runs one of India’s most popular television network, including the channels India Today and Aaj Tak. The […]
Royal Orchid Hotels announced the opening of its new hotel in the pilgrimage town of Dwarka in Gujarat. “We are taking continuous steps towards expanding our presence all over India. The new hotel launch in Dwarka is one such move towards our aim,” said Chander K. Baljee, Managing Director, Royal Orchid Hotels. The company has added […]
After regulating Internet and broadband services for years, the Telecom Regulatory Authority of India seems to have decided to enter the broadband era by using technology to stream its ‘open house’ discussions to the public. The regulator is streaming its latest open house discussion on spam calls and SMSes to the public via its twitter […]
Infrastructure major GMR Group said it has emerged, along with a partner, as the top bidder in a race to construct a new eight-million-passenger airport in Philippines, and expects to get the order in one week. The company, along with partner Megawide Construction Corporation, submitted the most competitive financial bid, it said. “Clark airport is […]
TT Ltd said it has decided to set up a mega garment plant in place of Spinning Machinery at Gajroula in Uttar Pradesh. The move is part of its attempt to diversify from textile making to making garments. “TT is exiting from spinning and entering the garmenting and fabric business on a massive scale,” the […]
Pharma Major Lupin said it got the approval of the US Food and Drug Administration to launch a generic version of Bayer’s oral contraceptive Safyral. The branded version has annual sales of around $23 mln in the US. Lupin’s product will be called Tydemy. The combination is indicated for use by women to prevent pregnancy […]
