Jindal Steel and Power Ltd reported a 53% jump in crude steel sales for the September quarter compared to the same quarter last year. It sold 1.27 million tons of crude steel during the quarter, up 7.6% compared to the March quarter, and well clear of the 0.83 million tons recorded in the same quarter […]
Tata Communications, the wholesale communication arm of the Tata Group, said it has agreed to buy Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE). The company was already the single largest shareholder in Teleena with a 35% stake, following an investment in January 2017, and has extensive dealings with […]
Maruti Suzuki India Limited said it is recalling 640 units of its Super Carry small cargo vehicles manufactured between 20th Jan 2018 till 14th July 2018 to rectify a possible defect in fuel pump assembly. Starting today, owners of the vehicles included in this recall campaign will be contacted by Maruti Suzuki dealers for inspection and […]
Hindustan Construction Company Ltd said its joint venture with Hyundai Development Corporation has won the contract to construct the Mumbai Coastal Road Project between Haji Ali and the Bandra Worli Sea Link, worth Rs 2,126 crore. The contract forms one of the three packages within the first phase of the highway. Construction on the first phase is […]
Maruti Suzuki Eeco, India’s largest selling affordable utility vehicle, has crossed the 5 lakh sales milestone, nearly eight years after it was introduced. The ‘van’ was brought in as a bigger, safer and stronger alternative to the relatively successful Omni. However, Eeco failed to match up to the success of the Omni, partly because the […]
HCL Technologies said it has signed up a new client — Australian power transmission company TransGrid, based in New South Wales. The five year deal will see the Indian outsourcing company provide most of the outsourcing functions for the company, including service desk operations, data center operations, security, disaster recovery, end-user computing facilities and applications. […]
Tata Motors reported a 20% growth for September to 64,598 vehicles, led once again by the commercial vehicle segment. The 20% overall growth is, however, below the 40% growth seen for the first six months of the current financial year. Following the recent trend, growth was led by the commercial vehicle division, which saw sales […]
Pharmaceuticals maker Lupin said it will distribute US-based Eli Lilly and Co’s Aplevant (dulaglutide), a once-weekly injection for type 2 diabetes treatment. Lupin said it expects to make Aplevant available in India this month itself. The two companies already have a partnership dating back to 2011. With this, said Lupin, the partnership has been expanded […]
Ashok Leyland, one of India’s top three commercial vehicle makers, reported strong auto sales for September. Total medium and heavy commercial vehicle sales rose 21% to 14,232 units in September, compared to 11,805 in the same month last year. Light commercial vehicle sales were up 44% at 5,141 units compared to 3,566 last year. Despite […]
Puravankara Ltd, one of India’s largest real estate developers, said one of its associate companies will buy a 7.6 acre plot in Bangalore’s Yeshwantpur from international retailer Metro to develop a commercial complex. The deal will be carried out through Keppel Puravankara Development Private Limited, a joint venture between Puravankara and Singapore’s Keppel Land in which the […]
Vakrangee Ltd, the Mumbai-based technology and distribution company, said the ministry of corporate affairs of India has ordered an inspection of its accounts for three years, and that PricewaterHouse will step down as the company auditor as part of the exercise. The inspection will be carried out under section 206 of the Companies Act. The […]
Delhi High Court has set apart a lower court decision that imposed a stay on the publication of a video by website Cobrapost that allegedly showed political bias among employees of Dainik Bhaskar group. DB Corp, the publisher of Dainik Bhaskar daily, won the injunction after arguing that the video was malafide and based on […]
Outsourcing services provider Tata Consultancy Services and instrumentation and industrial automation company Fortive Corp said they would work together to develop Internet-of-Things-based solutions. TCS is already Fortive’s outsourcing partner. Fortive provides solutions in the fields of instrumentation, transportation, sensing, product realization, automation and specialty, and franchise distribution. “As part of this partnership, TCS will jointly […]
Parag Milk Foods said the government’s move to increase subsidy on the export of milk and milk products will help the company’s exports. The Government of India has increased the export subsidy benefit on milk & milk products from 10% to 20% as part of its efforts to spur exports and bring down the trade […]
Rolta India, a provider of geospatial and IT solutions to government and non-government organizations in India, said it received a notice informing it that Union Bank of India has started insolvency proceedings against the company. The proceedings have been started in the National Company Law and Appellate Board on 17 days ago. “The company has […]
NBCC India, a state-owned construction company, said it has been given ‘in principle’ approval by Air India to redevelop the airline’s staff quarters in Delhi. The permission has been given to redevelop two plots of lands — a 30-acre plot in Vasant Vihar in South Delhi, and a 3.54-acre plot on Baba Khadak Singh Marg […]
Hero MotoCorp, the world’s largest two-wheeler manufacturer, said it will increase the price of its two-wheelers from October 3. The prices of its motorcycles and scooters could go up by up to Rs 900 per unit. “The revision has been necessitated by the increasing commodity costs and currency depreciation. “The price hike will translate to […]
State Bank of India, the country’s largest bank, said it has approved the sale of a 4% stake in its general insurance arm to Premji Invest and Axis Asset Managment for Rs 481.73 cr. SBI General Insurance is an unlisted subsidiary of the bank. SBI recently concluded a successful IPO for its life insurance unit, […]
HCL Technologies, one of India’s top five IT services companies, said Anglo American, owner of De Beers diamond brand, has retained its services for another five years even as the mining company seeks to cut costs by leveraging cloud and digital technologies. “The multi-year deal will see HCL continue to support Anglo American through the […]
India’s biggest private sector employer, Tata Consultancy Services, said Kuwait Clearing Company, the clearing entity of Boursa Kuwait, has chosen its software to provide CCP services. A central counterparty clearing house (CCP) is a corporate entity that reduces counterparty and default risk for traders. It acts as the counterparty to the buyer and the seller […]
