Fitch Ratings has revised Jaguar Land Rover Automotive plc’s outlook to ‘negative’ from ‘stable’, indicating a higher risk of a downgrade in its credit rating in the future. The move comes in the wake of higher investments by the company into research and development and rising depreciation of past investments, resulting in more cash burn […]
Sun Pharmaceutical Industries said it has got US Food and Drug Administration approval for a new eye drug that will be used for lowering intraocular pressure or IOP in patients with open-angle glaucoma or ocular hypertension. The medicine, latanoprost ophthalmic emulsion, was developed by group company Sun Pharma Advanced Research Co (SPARC), and was licensed by Sun Pharma, […]
Voltas, the refrigeration company from the Tata Group, announced the launch of the first products from its 50:50 venture with Turkey’s Arçelik. A total of 100 models of home appliances, including refrigerators and washing machines, will be introduced to the Indian market under the Voltas Beko brand over the next three months, it added. The two […]
Bharti Airtel, India’s second largest telecom company by revenue, said it sees a “massive opportunity” for growth in India, its key market, due to the exit of all but four players. “A 3+1 player industry is a great outcome,” it said at the CLSA Investors Forum at Hong Kong. WIRELESS STRATEGY On 4G, the company said […]
HCL SSHS, a joint venture between HCL Technologies and US-based State Street Corporation, said it plans to recruit over 1,000 graduates and post-graduates in commerce, accountancy and finance for its new office in Ganavaram, Vijayawada. The new office has been set up at Medha Tech Park and will be dedicated to finance-related processes such as Capital Markets […]
Pharmaceuticals manufacturer Lupin said it has received US authorities’ approval to sell pneumonia medicine Atovaquone suspension. The drug had sales of approximately USD 117.4 million per year in the US. The 750 mg/5 mL oral solution is the generic version of GlaxoSmithKline’s Mepron Oral Suspension. It is indicated for prevention and acute oral treatment of […]
SpiceJet, the most aggressive of India’s low-cost carriers, announced four new flights from Kanpur and Varanasi in Uttar Pradesh. While the new flights connect Varanasi to Bangalore and Kolkata, Kanpur is being connected with Mumbai. With this, said SpiceJet, it will be the first and only airline to offer daily direct flights on the routes […]
Pune-basedKolte-Patil Developers said it has sold 500 units in its new project, ORO Avenue. The project, which was launched last month, has seen bookings worth Rs 186 cr. The figure works out to an average of Rs 37.2 lakh. “When compared to other projects recently launched in Pune, OROR Avenue has sold maximum inventory in […]
Users of Jiophone, India’s highest selling mobile device, can install WhatsApp messenger starting from today, Reliance Retail said. The software can be installed by going to the phone’s appstore and downloading it. “WhatsApp will be available on the JioPhone AppStore starting 10th September, 2018 and will be rolled out on all JioPhones by 20th September, […]
YES BANK, India’s fourth largest private sector Bank, said it has taken a syndicated loan of $400 million loan facility from a syndicate led by Bayerische Landesbank, Commerzbank, CTBC Bank, First Abu Dhabi Bank PJSC, Korea Development Bank, State Bank of India, United Overseas Bank Limited and Westpac Banking Corporation. The money was borrowed out of […]
Infosys, the Indian IT services company, has been roped in to make the Australian Open tennis tournament more engaging for the fans. Infosys CEO Salil Parekh said the idea is to “change the way the Australian Open is watched, analysed and played” Australian Open is one of the top five tennis tournaments in the world. […]
JSW Steel Ltd reported an 8% jump in its crude steel production for August to 14.48 lakh tons. Crude steel refers to the first state of produced steel, and can be processed by the company into other products or sold to third parties. In the month of August, output of long rolled products, such as […]
Low-cost carrier SpiceJet has become the first airline to start regular services to the hill state of Sikkim in North East India. In the absence of direct air connectivity to the State, tourists headed for Sikkim currently have to fly to Bagdogra and then take a road journey of over 100 km to reach Gangtok. […]
Jaguar Land Rover today reported total retail sales of 36,629 vehicles in August 2018, down 4.9% year on year, hit by a 38% fall in sales in China due to ongoing tariff war between the US and China. However, Chinese retail sales showed a slight improvement compared to last month, when they had fallen 47% […]
Ashok Leyland, one of India’s top two commercial vehicle makers, said it has set up an electric vehicle unit at its Ennore plant, giving the company the capacity to “deal with” about 5,000-10,000 electric vehicles per year. The move comes eight months after it signed an agreement with Israel-based Phinergy to explore the possibility of […]
Engineering outsourcing company L&T Technology Services said it has agreed to acquire 100% of Bangalore-based semiconductor services firm Graphene for an undisclosed amount. The all-cash transaction is expected to be complete by October, it said. Graphene Semiconductor Services Private Limited is one of the fastest growing companies in the Semiconductor Services domain with a presence […]
The upcoming new system of selling television channels in India will de-risk the business model of distribution companies such as cable and DTH providers, the country’s largest cable feed provider said. Starting in 2019, television channel operators will no longer be allowed to enter into ‘fixed payment’ deals with distribution providers like cable and DTH […]
The Thomas Cook (India) said it will prepay about Rs 67 cr of corporate bonds to make the standalone company debt-free by the end of this month. It said it will also pay off short-term debts using the proceeds of an offer for sale of its shares. This, said the travel and tourism company, will […]
Mahindra & Mahindra has unveiled its next SUV, the Marazzo, at a price that is considerably below what the market was expecting. While the ‘shark-inspired’ UV was supposed to be priced in the same range as the XUV500, the actual starting price is about 20% below that of the 500. Against Rs 12.6 lakhs for […]
Bajaj Auto, one of India’s biggest two- and three-wheeler makers, reported relatively strong auto sales numbers for August. Total sales came in at 4.37 lakh, up 30% over 3.35 lakh in August last year. Growth was led by exports, even as the floods in Kerala dampened domestic growth slightly. Total exports for the month was […]
