The annual rate of inflation, based on monthly WPI, stood at 5.77% (provisional) for the month of June, 2018 (over June, 2017) as compared to 4.43% (provisional) for the previous month and 0.90% during the corresponding month of the previous year. This is one of the highest rates of inflation in recent months, and could […]
Pharma major Lupin said its Goa facility has successfully completed an inspection by the UK Medicines and Healthcare Products Regulatory Authority. “There were no critical or major observations in the inspection,” it said, indicating that products made at the facility can continue to be sold in the UK market. This is not the first such […]
GAIL, the government-owned pipeline company, said it will spend Rs 755 cr to put in place a gas pipeline grid in Varanasi, Narendra Modi’s Lok Sabha constituency. The grid, which has been inaugurated, will cover an area of 1,535 sq km, it added. About 1 lakh households are likely to be covered in the project. […]
Multiplex theaters in Maharashtra will have to allow customers to carry their own food items into the exhibition hall, Maharashtra government said in the legislative assembly. The statement by consumer affairs minister Ravindra Chavan in the assembly comes in the context of a public interest litigation being heard in the Mumbai High Court about ‘overcharging’ […]
Construction major Larsen & Tourbo said it got the order to construct the tallest government building in India at Amaravati, the upcoming capital of Andhra Pradesh. It said the order was part of a contract to build Head of Department office buildings at Amaravati. The buildings will house the headquarters of the various government departments […]
Sun Direct, the No.1 direct-to-home service in South India, has threatened to remove all channels of India’s largest broadcasting company, Star India, from all its subscription packs from August 1. The channels will continue to be available on the platform, but users will have to purchase the channels individually at prices ranging from Rs 10 […]
Bharti Airtel said the Reserve Bank of India has lifted the restriction on signing up new customers imposed on its banking unit Airtel Payments Bank. The restriction was imposed in January after reports that the company was signing up its mobile customers on its payments bank platform without seeking their full consent. Payments Banks are […]
Info Edge, one of India’s pioneering dotcom companies, said four of its websites were taken offline by a hardware failure at the data center. However, said the company, the websites are now working normally, and business is unlikely to be affected. The suspected hardware failure took place on Tuesday evening. The websites impacted were the […]
Three months after Tata Consultancy Services became the first Indian company to achieve a market capitalization of $100 bln (Rs 6.85 lakh cr), Reliance Industries is close to the $100 bln mark as well. At present, there are only around 100 companies in the world whose shares are worth $100 bln or more, including the […]
Cipla, one of India’s largest pharmaceuticals makers, said it has agreed to buy South African pharmaceuticals maker Mirren for 450 mln rand, or about Rs 225 cr. Mirren is a fast-growing OTC specialist with 152 mln rand of turnover in the last financial year, 123 mln in the preceding year and 83 mln in the […]
Tata Consultancy Services, the country’s largest private sector employer, said it plans to make some changes to its methodology used to hire fresh graduates from campuses from this year. Speaking to BTVI, HR head Ajoyendra Mukherjee said campus hiring for the next financial year (2019-20) will start in August or September. “More and more, even […]
Facebook has refused to block a ‘drinker’s group’ that the Kerala Police had requested to be taken down, according to local media reports. The social network reportedly told the police that the group was not in violation of its guidelines and cannot be taken down without proper justification. The Kerala Excise department is trying to […]
India’s real estate sector is witnessing a healthy turnaround with rising sales and declining inventory, numbers from Anarock Property Consultants revealed. According to the market tracker, there has been a 24% jump in real estate unit sales in the latest quarter (April-June 2018) compared to the previous three months. The jump comes on top […]
Vehicle sales in India are on a strong growth curve in the new financial year, according to numbers released by the Society of Indian Automobile Manufacturers or SIAM — the apex body of automakers in India. A total of 53.79 lakh vehicles were produced in the two months, 15.16% higher than the 46.71 lakh vehicles […]
Market tracker CyberMedia Research has called Reliance Jio’s 4G and GigaFiber broadband subscriber targets unrealistic, and said it did not see the company meeting the year-end target of 300 mln for its 4G service or the 50 mln target for its fiber broadband service. “We at CMR feel Jio might slow down around 260-275 million […]
China-based Xiaomi, India’s No.1 smartphone brand, has been forced to start an aggressive TV campaign after its biggest rival, BBK Electronics, introduced its own no-frills handset RealMe 1. With this, BBK Electronics — which owns brands such as Oppo, Vivo and OnePlus — has successfully used Xiaomi’s own strategy to challenge the No.1 smartphone brand. […]
Zydus Cadila said it has received tentative regulatory approval from the US Food & Drug Administration for selling Deferasirox, used to chelate or expel excess iron from the blood. The drug is sold under names such as Exjade, Desirox, Defrijet, Desifer, Rasiroxpine and Jadenu. Tentative approval means that the company has to wait for all […]
India’s cable company stocks have fallen by about 15%-25% since Reliance Jio, India’s largest telecom company by volumes, yesterday announced the commencement of its long-awaited fiber broadband and TV service from August 15. It is feared that the company’s entry can lead to widespread shutdowns and losses in the cable and broadband industry, similar to […]
Reliance Industries chairman Mukesh Ambani today announced that Jio will start giving out connections of its much-awaited broadband service, Jio GigaFiber, starting on August 15. Surprisingly, Ambani said the service will be available in 1,100 cities of India from Day 1, and not 100 cities as was announced two years ago. This means that Jio […]
Reliance Industries, the parent of Reliance Retail, said it has acquired a 12.5% stake in a fashion company called Future101 Design Pvt Ltd at a cost of Rs 9.5 cr. The Gurgaon-based company designs and manufactures garments such as ladies kurtis and men’s shirts. “Future101, incorporated in July, 2013 is engaged in manufacturing, distribution and […]
