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Business News

  • With eye on China, India doubles down on container hub ports

    With eye on China, India doubles down on container hub ports  

    New Delhi will grant billionaire Gautam Adani 16 billion rupees (USD 240 million) in so-called "viability gap" funding to help the new port at Vizhinjam in Kerala win business from established hubs elsewhere in Asia.

    28 Jul 2016, 2.24 pm  |  Source: Reuters

  • Nexa outlets to account for 15% sales by 2020: Maruti

    Nexa outlets to account for 15% sales by 2020: Maruti  

    Launched in July 2015, Nexa today completed one year of operations. It currently has 150 outlets across 94 cities.

    28 Jul 2016, 2.24 pm  |  Source: PTI

  • Bad loan recovery, account upgrades better in Q1: PNB

    Bad loan recovery, account upgrades better in Q1: PNB   

    In an interview to CNBC-TV18, Ananthasubramanian says the bank's savings deposits grew 14 percent year-on-year during the quarter. Also, the share of Current Account and Savings Account (CASA) funds has risen to 41.4 percent vs 38...

    28 Jul 2016, 2.20 pm  |  Source: CNBC-TV18

  • Kirloskar Ferrous to acquire pig iron plant of VSL Steels

    Kirloskar Ferrous to acquire pig iron plant of VSL Steels  

    "Board at its meeting on July 28, has granted in-principle approval for acquisition of movable and immovable assets relating to pig iron plant of VSL Steels Ltd for a cash consideration of Rs 155 crore," Kirloskar Ferrous Industri...

    28 Jul 2016, 2.12 pm  |  Source: PTI

  • Sun Pharma, Almirall enter pact for psoriasis novel biologic

    Sun Pharma, Almirall enter pact for psoriasis novel biologic  

    "Under terms of the licence agreement, Almirall will pay Sun Pharma an initial upfront payment of USD 50 million," the two companies said in a joint statement.

    28 Jul 2016, 2.12 pm  |  Source: PTI

  • Q1 finance costs up on set top box purchase: Hinduja Ventures

    Q1 finance costs up on set top box purchase: Hinduja Ventures   

    When asked about revenue guidance, Mansukhani said that they have a stable income of Rs 40 crore from trade of securities. But income from the process of cable TV digitisation may vary.

    28 Jul 2016, 1.07 pm  |  Source: CNBC-TV18

  • Govt hopeful of improving `ease of doing business` rank

    Govt hopeful of improving 'ease of doing business' rank  

    India's rank in the World Bank's Doing Business Report 2016 was was up at 130th from 134th slot in the previous year.

    28 Jul 2016, 1.00 pm  |  Source: PTI

  • Loan growth to stabilise around 30% FY17 onwards: Can Fin Homes

    Loan growth to stabilise around 30% FY17 onwards: Can Fin Homes   

    SK Hota, Managing Director, Can Fin Homes, expects the loan book to be around Rs 13,500 crore at the end of this financial year, which works out to an increase of 29 percent year-on-year

    28 Jul 2016, 12.45 pm  |  Source: CNBC-TV18

  • Looking at 8-10 percent growth in exports: Greenlam Industries

    Looking at 8-10 percent growth in exports: Greenlam Industries   

    Speaking to CNBC-TV18, Joint MD and CEO of Greenlam Industries, Saurabh Mittal said the company's exports for the June quarter declined year-on-year, but were up quarter-on-quarter. Mittal expects an 8-10 percent growth in exports...

    28 Jul 2016, 12.20 pm  |  Source: CNBC-TV18

  • FY17 net seen up 20% on steel minimum import price: Steel Strips

    FY17 net seen up 20% on steel minimum import price: Steel Strips   

    Around 12 percent of the company's revenues come from exports. Joshi expects a 15 percent rise in export revenues.

    28 Jul 2016, 11.44 am  |  Source: CNBC-TV18

  • Not positive on Lupin`s US business: Surajit Pal

    Not positive on Lupin's US business: Surajit Pal   

    Lupin on Wednesday received preliminary approval from the US FDA to market a generic equivalent of GlaxoSmithKline Plc’s ViiV Healthcare’s (ViiV) antiretroviral (ARV) Lexiva tablets in 700 milligram dosage form. This product w...

    28 Jul 2016, 11.33 am  |  Source: CNBC-TV18

  • Expect US business to break-even by year-end: ADF Foods

    Expect US business to break-even by year-end: ADF Foods   

    "We are very optimistic about company's business; things are looking good," Bimal Thakkar, Managing Director of ADF Foods told CNBC-TV18.

    28 Jul 2016, 11.15 am  |  Source: CNBC-TV18

  • See strong rural demand on good monsoon: Asian Paints boss Anand

    See strong rural demand on good monsoon: Asian Paints boss Anand   

    KBS Anand, MD and CEO, Asian Paints, is confident that demand for paints will surge if gross domestic product (GDP) grows.

    28 Jul 2016, 11.11 am  |  Source: CNBC-TV18

  • Green bond issuances to top $75 bn in 2016: Moody`s

    Green bond issuances to top $75 bn in 2016: Moody's  

    With this, the total green bond issuance in the first six months of the year stood at USD 37.2 billion, up 89 percent from USD 19.7 billion for the first half of 2015.

    28 Jul 2016, 11.00 am  |  Source: PTI

  • Asian Development Bank raises Rs 500 cr in rupee-linked bonds

    Asian Development Bank raises Rs 500 cr in rupee-linked bonds  

    "The Asian Development Bank (ADB) has raised Rs 5 billion (about USD 74 million) from its issuance of 5-year offshore Indian rupee (INR) linked bonds, " it said in a release today.

    28 Jul 2016, 11.00 am  |  Source: PTI

  • Cheaper base oil,better product mix helped margins:Castrol India

    Cheaper base oil,better product mix helped margins:Castrol India   

    Castrol has seen growth across segments like personal mobility, commercial vehicles (CV) and industrial, says Rashmi Joshi, Director, Finance, Castrol India

    28 Jul 2016, 10.45 am  |  Source: CNBC-TV18

  • Optimistic that revenue will grow by 10% in FY17: Everest Ind

    Optimistic that revenue will grow by 10% in FY17: Everest Ind   

    Revenues in the first quarter ended June saw a 13 percent decline ad the business was hit because of low volumes and minimum import price (MIP) imposed by the government, says Manish Sanghi, MD of Everest Industries.

    28 Jul 2016, 9.20 am  |  Source: CNBC-TV18

  • ONGC, HPCL may sell stake in MRPL to meet public holding norms

    ONGC, HPCL may sell stake in MRPL to meet public holding norms  

    Public shareholding in the Mangalore-based refiner is currently just 11.42 percent, not even half of the mandatory 25 percent public float required by the Securities and Exchange Board of India (SEBI) for listed companies.

    28 Jul 2016, 9.00 am  |  Source: PTI

  • SpiceJet sets up unit for consumer merchandise business

    SpiceJet sets up unit for consumer merchandise business  

    The wholly-owned subsidiary 'SpiceJet Merchandise Private Limited' would engage in business of various goods including readymade apparels, through various channels.

    28 Jul 2016, 8.58 am  |  Source: PTI

  • Hepatitis claims dropped 5% in FY16: ICICI Lombard

    Hepatitis claims dropped 5% in FY16: ICICI Lombard  

    The private sector non-life insurer received 29.71 percent Hepatitis claims in the year gone by from 34.81 percent a year ago.

    28 Jul 2016, 8.56 am  |  Source: PTI

  • Renuka Sugars` Brazil arm to see debt fall by Rs 168 crore

    Renuka Sugars' Brazil arm to see debt fall by Rs 168 crore  

    In a filing to the BSE, the company said the designated court in Sao Paulo, Brazil has approved the reorganisation of debt of its subsidiary Renuka Vale do Ivai (Renuka VDI).

    28 Jul 2016, 8.00 am  |  Source: PTI

  • Monsanto case: CCI rejects pleas seeking review of probe order

    Monsanto case: CCI rejects pleas seeking review of probe order  

    While rejecting as many as six such applications filed by various Monsanto entities, the Competition Commission of India (CCI) also asked them to co-operate in the investigation so that the probe is completed "without undue delay"...

    28 Jul 2016, 8.00 am  |  Source: PTI

  • Airtel proposes Rs 30 cr annual package to Sunil Mittal

    Airtel proposes Rs 30 cr annual package to Sunil Mittal  

    The telecom major will seek shareholders' approval for the proposed hike in pay package for Mittal as well as for its Managing Director for India Gopal Vittal at the Annual General Meeting scheduled on August 19.

    28 Jul 2016, 7.38 am  |  Source: PTI

  • Hero MotoCorp unveils iSmart 110 in Mumbai

    Hero MotoCorp unveils iSmart 110 in Mumbai  

    The company said this is the first motorcycle to be developed completely in-house with Hero's own technology.

    27 Jul 2016, 9.56 pm  |  Source: PTI

  • HDFC approves amalgamation of 5 subsidiaries into itself

    HDFC approves amalgamation of 5 subsidiaries into itself  

    HDFC has granted in-principle approval for the amalgamation of Grandeur Properties, Haddock Properties, Winchester Properties, Pentagram Properties and Windermere Properties into itself, the company said in a statement.

    27 Jul 2016, 9.18 pm  |  Source: PTI

  • Apple given relaxation in sourcing for first three years: Govt

    Apple given relaxation in sourcing for first three years: Govt  

    "We have just given a relaxation that in the first three years, if local sourcing for their retail outlet is becoming difficult, the first three years will be exempted. But the average that we calculate for the local sourcing requ...

    27 Jul 2016, 9.18 pm  |  Source: PTI

  • M&M incorporates Mahindra Airways as wholly-owned subsidiary

    M&M incorporates Mahindra Airways as wholly-owned subsidiary  

    "Mahindra Airways is incorporated as a wholly-owned subsidiary of Mahindra Holdings Ltd (MHL). The initial subscription by MHL into Mahindra Airways is Rs 5 lakh," the company said in a regulatory filing.

    27 Jul 2016, 9.00 pm  |  Source: PTI

  • Drop in last minute fares only to fill empty seats: Air India

    Drop in last minute fares only to fill empty seats: Air India  

    In a move that check-mated its rivals like Jet Airways and Vistara on the pricing front, the national carrier had early this month announced dropping its last minute fares to the level of AC II tier ticket prices of Rajdhani train...

    27 Jul 2016, 9.00 pm  |  Source: PTI

  • Hyundai expects FY17 exports to be flat at 1.65 lakh units

    Hyundai expects FY17 exports to be flat at 1.65 lakh units  

    "We are very successful in domestic and export markets. We started Make in India products from 2000 and today our cars are exported to 92 countries. Latin America, Africa, Middle East are the major export markets for us," Hyundai ...

    27 Jul 2016, 9.00 pm  |  Source: PTI

  • Sun Pharma recalls 16K bottles of antidepressant tablets in US

    Sun Pharma recalls 16K bottles of antidepressant tablets in US  

    Sun Pharmaceutical Industries Inc, the company's US subsidiary, is recalling 16,085 bottles of buPROPion hydrochloride extended release tablets in the strength of 150 mg in a ongoing voluntary nationwide recall, the latest Enforce...

    27 Jul 2016, 9.00 pm  |  Source: PTI

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