Brigade Enterprises, one of the top real estate players in Bangalore, announced its plans to set up Brigade Bricklane, a low-rise apartment project at Jakkur in North Bangalore. The flats will be priced at Rs 33 lakhs and above and will be constructed with lots of open space between each block. “The apartments have been […]
Bharti Airtel said it has stopped the policy of allowing users to continue on its network even if they spend nothing on outgoing calls and use their numbers only for receiving incoming calls. The company said it has done this by removing many of its existing prepaid vouchers and plans, and replacing them with ‘minimum […]
Bharti Airtel today said that it was ‘open to’ partnering with cable operators to get access to last mile connections to customers for its broadband service. “We would be open to looking at partnerships to expand our access to the last mile,” said CEO Gopal Vittal. The comment came in the context of Reliance Jio […]
The pain for Bharti Airtel’s mobile business does not seem to be over, with the company’s India mobile revenue declining further in the September to a new low, belying expectations that it had hit bottom two quarters ago. Total India mobile revenue fell 2.2% on quarter to Rs 10,252 cr during the quarter. This means […]
Mukesh Ambani, the billionaire who changed the face of telecom in India in the last two years, said he has set his eyes on replicating his success in wireless telecom in the sphere of wired telecom as well. He said the 4G services launched by Reliance Jio has helped India move from the 155th of […]
InterGlobe Aviation, the company that operates Indigo Airlines, reported a bigger-than-expected net loss for the second quarter as fuel costs zoomed 84%. Net loss came in at Rs 652.1 cr for the quarter ended September 2018 compared to a net profit of Rs 552 cr last year. The “higher fuel prices [were] responsible for more […]
Wipro, one of India’s top IT services exporters, reported a fall in net profit for the second quarter, despite getting a lift from the falling rupee, due to a sharp increase in ‘other expenses. Net profit for the September quarter came in at Rs 1,886 cr, down from Rs 2,094 cr in the preceding three […]
Zydus Wellness, the consumer healthcare arm of Zydus Cadila, said it has agreed to acquire Heinz India Private Ltd, the Indian unit of global FMCG major Kraft Heinz. The transaction, which will be carried out in association with Cadila Healthcare Ltd, values Heinz India at Rs 4595 cr, the company said. Heinz India’s business comprises the brands Complan, Glucon D, […]
Bharti Airtel said it has raised $1.25 bln (Rs 9,150 cr) from institutional investors by selling shares in its Africa unit and intends to list Airtel Africa soon. The investors who have committed to invest in the UK-based unit include Warburg Pincus, Temasek, Singtel, SoftBank Group International and others, it said. The investment will be at […]
Midsize outsourcing and IT services firm Zensar Technologies reported higher profits for the April-June quarter, boosted by the sharp run-up in the value of the dollar against the rupee. Revenue rose 2.3% on quarter in dollar terms and 7.1% in rupee terms. Adjusted for currency movements, revenue was up 4.1% on quarter and 17.5% on […]
Mumbai-based RBL Bank reported a 48% jump in operating profit on strong growth in both interest as well as non-interest income. However, a near-doubling of provisions to Rs 140 cr (flat sequentially) prevented the full benefits from reflecting on the bottom line. The company’s overall interest income in the second quarter rose by Rs 372 […]
Construction major Ahluwalia Contracts said it has won a Rs 539 cr order from the government of India-controlled NBCC for the redevelopment of the iconic Charbagh Railway station in Lucknow. With this, said the company, the total inflow of orders in the seven months of this year has been Rs 2,575 cr. Further details, such […]
In yet another indication that the real estate market is starting to revive, Sunteck Realty, a Mumbai-based real estate developer, announced that it has sold 2,000 out of the 2,476 flats in its upcoming West World project in Naigaon near Mumbai. It said the sales has generated Rs 600 cr, which implies a per unit […]
Even as liquidity remains tight for non-banking finance companies in India, PNB Housing Finance said it has raised Rs 1,775 cr from various mutual funds and banks by issuing commercial paper. Commercial paper refers to short-term loans raised by companies, and are typically used to meet short-term requirements like taking care of inventory and accounts […]
Alembic Pharmaceuticals said one of its dermatology-focused joint ventures cleared its first United States Food and Drugs Administration (USFDA) inspection at its new formulation manufacturing facility located at Karakhadi, Gujarat, India without any observations. The inspection was carried out between 15th October, 2018 and 19th October, 2018. Alembic holds 60% of Aleor, with Orbicular Pharmaceutical […]
The Kerala unit of the Congress Party today called on the BJP to issue an ordinance to give denominational status to Ayyappa devotees and reiterated its stand that it was against the entry of young women into the temple. Ramesh Chennithala, the leader of the Congress Party in the state legislative assembly, took aim at […]
Zee Entertainment Enterprises, the largest Indian broadcasting company, said it plans to raise the number of exclusive movies on its entertainment app ZEE5 to 3,000 as it races to become the No.1 provider of digital content in India. The 3,000 exclusive movies would make the platform one of the biggest, if not the biggest, repository […]
Noted right-wing ideologue and BJP leader Subramanian Swamy today climbed down from his earlier stand that the military should be used to implement Supreme Court’s decision on allowing fertile women into the Sabarimala temple. In the backdrop of unexpectedly strong protests against the move in Kerala, Swamy today blamed the Left Front government for trying […]
Reliance Jio, India’s largest telecom operator, has seen its data traffic double to 2.6 billion GBs per month this September from 1.3 billion GBs a year ago, according to the company’s quarterly update. Surprisingly, the 100% growth in data consumption has outpaced the 83% jump in subscribers. Analysts and observers had expected the company’s data consumption […]
Reliance Industries made a strong pitch to the thousands of local cable operators associated with cable feed providers Den Networks and Hathway Cable and Datacom as it announced its purchase of the two companies. Reliance will spend Rs 2,290 cr for a 66% stake in Den Networks, and Rs 2,940 cr for a 51.3% stake […]
