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Business News

  • Govt to miss revenue target from telcos: ICRA

    Govt to miss revenue target from telcos: ICRA  

    The telecom sector will, however, contribute to the tune of Rs 5-6 lakh crore over period of next 10 years,, credit rating agency ICRA said today.

    26 Jul 2016, 7.10 pm  |  Source: PTI

  • DoT to issue demand notices this week to 6 telcos for 2006-07

    DoT to issue demand notices this week to 6 telcos for 2006-07  

    According to DoT sources, demand notice is likely to go to Bharti Hexacom for North East and Rajasthan circles, and to all other operators as well for the year 2006-07 for specific circles. The source, however, declined to quantif...

    26 Jul 2016, 7.08 pm  |  Source: PTI

  • Who is Sanjiv Puri? Meet the man who may succeed ITC`s Deveshwar

    Who is Sanjiv Puri? Meet the man who may succeed ITC's Deveshwar  

    Sanjiv Puri, the maiden Chief Operating Officer of consumer giant ITC, is widely regarded as the likely successor to Chief Executive Officer YC Deveshwar. Puri has his task cut out at ITC in case he replaces Deveshwar who steps do...

    26 Jul 2016, 4.18 pm  |  Source: Moneycontrol.com

  • Residential property sales grow 8% sequentially in Q1: Study

    Residential property sales grow 8% sequentially in Q1: Study  

    According to a report by online property portal PropTiger, residential sales increased by 8 percent in the first quarter of 2016-17, while project launches went up by 14 percent to 41,000 units when compared to the last quarter (J...

    26 Jul 2016, 4.18 pm  |  Source: PTI

  • Domestic air passenger traffic grows nearly 21% in June 2016

    Domestic air passenger traffic grows nearly 21% in June 2016  

    Budget carrier indiGo flown the highest number of passengers (30.23 lakh) followed by full service private carrier Jet Airways which, along with its subsidiary JetLite, ferried a total of 15.23 lakh fliers in June 2016.

    26 Jul 2016, 4.18 pm  |  Source: PTI

  • To clock 10% revenue growth in FY17: LG Balakrishnan & Bros

    To clock 10% revenue growth in FY17: LG Balakrishnan & Bros   

    Net profit stood at Rs 9.5 crore against Rs 9 crore in the same quarter last fiscal and revenue stood at Rs 264.3 crore against Rs 247 crore last fiscal.

    26 Jul 2016, 4.07 pm  |  Source: CNBC-TV18

  • Bajaj Fin targets 25% balancesheet growth in medium-to-long term

    Bajaj Fin targets 25% balancesheet growth in medium-to-long term   

    Bajaj Finance expects a 25 percent growth in its balancesheet and 20 percent net income growth from a medium-to-long-term point of view, the company's Managing Director Rajeev Jain tells CNBC-TV18.

    26 Jul 2016, 3.53 pm  |  Source: CNBC-TV18

  • Yamaha sets up second R&D centre in India

    Yamaha sets up second R&D centre in India  

    The new centre, which is located at Kanchipuram district of Tamil Nadu, has been established to ensure optimum utilisation of resources and focus on enhancing of the capability and capacity.

    26 Jul 2016, 3.48 pm  |  Source: PTI

  • NIIT Tech promoters mull strategic sale: Sources

    NIIT Tech promoters mull strategic sale: Sources  

    Sources say that Zensar and Mphasis are two companies that have likely expressed their interest in NIIT Tech. Private equity players may also have shown interest in buying the firm.

    26 Jul 2016, 3.43 pm  |  Source: CNBC-TV18

  • Associate`s poor show took a toll on Q1 numbers: NIIT

    Associate's poor show took a toll on Q1 numbers: NIIT   

    Rahul Patwardhan clarified that in the constant currency basis, the revenues from the CLG business for the first quarter of FY17 rose by 13 percent. The 19 percent rise in revenues is in rupee terms. He maintains a guidance of 15 ...

    26 Jul 2016, 3.39 pm  |  Source: CNBC-TV18

  • Over 1,900 cos spend Rs 8,029 cr towards CSR works in 2014-15

    Over 1,900 cos spend Rs 8,029 cr towards CSR works in 2014-15  

    Out of these companies, 116 were public sector undertakings while 1,790 were private sector entities, Minister of State for Corporate Affairs Arjun Ram Meghwal told Rajya Sabha.

    26 Jul 2016, 3.34 pm  |  Source: PTI

  • See mid-teen sales growth, 22-23% margins ahead: Welspun India

    See mid-teen sales growth, 22-23% margins ahead: Welspun India   

    Welspun India reported a 10.3 percent jump in its net profit to Rs 201.9 crore and 14.3 percent rise in its total income to Rs 1,592.6 crore in the first quarter of FY17. The company’s margins expanded to 26.5 percent.

    26 Jul 2016, 3.27 pm  |  Source: CNBC-TV18

  • ONGC, Cairn India demand halving of cess on crude oil

    ONGC, Cairn India demand halving of cess on crude oil  

    Oil and Natural Gas Corp (ONGC) paid Rs 4,500 per tonne cess on crude oil it produced from almost all its fields including prime Mumbai High, till February 2016. In Budget for 2016-17, Jaitley changed the cess from specific levy t...

    26 Jul 2016, 3.22 pm  |  Source: PTI

  • Fintech sector sees 23 deals worth $184 mn till June this year

    Fintech sector sees 23 deals worth $184 mn till June this year  

    According to News Corp VCCEdge India FinServ Insights, online platforms offering wealth management and lending/ credit services are fuelling fintech investments by the PE/VC/angel community.

    26 Jul 2016, 3.16 pm  |  Source: PTI

  • Emami eyes pan-India cement footprint in 5-7 years

    Emami eyes pan-India cement footprint in 5-7 years  

    Emami Cement, a group company, is in the process of setting up a plant at Panagarh in West Bengal with a capacity of 2 million tonnes per annum (mpta) at a cost of Rs 500 crore. Agarwal said the plant would be ready by December.

    26 Jul 2016, 3.02 pm  |  Source: PTI

  • JSW Steel eyes 15 mn tonne sales in FY`17; 15.75 MT output

    JSW Steel eyes 15 mn tonne sales in FY'17; 15.75 MT output  

    In his speech to the company shareholders today, JSW Steel Chairman and Managing Director Sajjan Jindal said the firm continues to be confident of the India story.

    26 Jul 2016, 2.38 pm  |  Source: PTI

  • DHFL plans to raise Rs 300 cr on pvt placement

    DHFL plans to raise Rs 300 cr on pvt placement  

    "The company proposes to issue secured redeemable non convertible debentures amounting to Rs 200 crore and a greenshoe option of up to Rs 100 crore on private placement basis," DHFL said in a regulatory filing.

    26 Jul 2016, 2.26 pm  |  Source: PTI

  • Govt not considering strategic sale of IDBI Bank: FinMin

    Govt not considering strategic sale of IDBI Bank: FinMin  

    Minister of State for Finance Santosh Kumar Gangwar in a written reply in the Rajya Sabha said: "No" to a question whether the government is proposing strategic sale of IDBI Bank.

    26 Jul 2016, 2.16 pm  |  Source: PTI

  • Green panel against UPRVUNL`s expansion proj in Kanpur

    Green panel against UPRVUNL's expansion proj in Kanpur  

    The state-run UPRVUNL has proposed setting up of a 660 mw coal-based super-critical power plant at Panki in Kanpur district. Its existing plant has a capacity of 210 mw.

    26 Jul 2016, 2.08 pm  |  Source: PTI

  • Karur Vyasa Bank to focus on retail, sees no big jump in NPAs

    Karur Vyasa Bank to focus on retail, sees no big jump in NPAs   

    The bank reported stable first quarter numbers with 8.7 percent rise in net profit to Rs 146.3 crore while the net interest income rose 13.7 percent to Rs 481.1 crore. Gross non-performing assets (NPA) for Q1 were 1.79 percent as ...

    26 Jul 2016, 2.00 pm  |  Source: CNBC-TV18

  • Mercedes to have petrol variants across portfolio in India

    Mercedes to have petrol variants across portfolio in India  

    The company, which today launched AMG 43 priced at Rs 77.5 lakh (ex-showroom Delhi), however remained hopeful that a solution would be found soon on the diesel ban in the region which traditionally has been the key market for the ...

    26 Jul 2016, 1.46 pm  |  Source: PTI

  • Claris Life gets USFDA nod for generic anesthetic injection

    Claris Life gets USFDA nod for generic anesthetic injection  

    The company has received approval from the United States Food and Drug Administration (USFDA) for generic "Bupivacaine hydrochloride in 8.25 per cent dextrose injection USP 7.5 mg/mL, single dose ampules with 2 ml fill volumes," C...

    26 Jul 2016, 1.46 pm  |  Source: PTI

  • We aren`t excited about acquisitions now, says Sajjan Jindal

    We aren't excited about acquisitions now, says Sajjan Jindal   

    Speaking to CNBC-TV18 Sajjan Jindal, Chairman and Managing Director of JSW Steel said that he will be focussing on adding value to steel products.

    26 Jul 2016, 1.23 pm  |  Source: CNBC-TV18

  • We have no intention to merge Jabong with co: Myntra chief

    We have no intention to merge Jabong with co: Myntra chief   

    Speaking to CNBC-TV18 about the buyout, Ananth Narayanan, CEO of Myntra said that he thinks of it as a partnership.

    26 Jul 2016, 12.54 pm  |  Source: CNBC-TV18

  • How many chances did Yahoo blow before settling on Verizon?

    How many chances did Yahoo blow before settling on Verizon?  

    From a company which made the most of the 'dotcom' bubble, Yahoo has been reduced to an entity less than its own shadow after Verizon agreed to buy it for about $4.8 billion. In the past, Yahoo had a chance to not only buy a f...

    26 Jul 2016, 11.28 am  |  Source: Moneycontrol.com

  • Adani Ports, TCS, Infosys among Forbes super 50 list

    Adani Ports, TCS, Infosys among Forbes super 50 list  

    Three key metrics — shareholder value, sales growth and return on equity - were taken into consideration by Forbes and PwC India while framing the Super 50 list. The Super 50 list is not a ranking, but a listing of companies whi...

    26 Jul 2016, 11.20 am  |  Source: NEWS18.com

  • Patanjali is no threat to us: Bajaj Corp MD

    Patanjali is no threat to us: Bajaj Corp MD   

    In an interview CNBC-TV18, Sumit Malhotra, MD of Baja Corp said that the first quarter was disappointing in terms of volume growth as poor rural growth led to less consumption.

    26 Jul 2016, 11.05 am  |  Source: CNBC-TV18

  • See textile biz revenues growing 25-30% in FY17: GHCL

    See textile biz revenues growing 25-30% in FY17: GHCL   

    Volumes for soda ash volumes are expected to remain flattish at 750 tonnes on account of seasonality (rains) factor, says RS Jalan, MD of GHCL.

    26 Jul 2016, 10.57 am  |  Source: CNBC-TV18

  • Myntra acquires Jabong; Sachin Bansal keen on `creating history`

    Myntra acquires Jabong; Sachin Bansal keen on 'creating history'  

    Jabong.com, owned by Global Fashion Group (GFG), has been on a shaky ground since the last one year on the back of dwindling sales and changes in its top management.

    26 Jul 2016, 10.36 am  |  Source: Moneycontrol.com

  • Growth factor is due to consolidation, new mkts: Pincon Spirit

    Growth factor is due to consolidation, new mkts: Pincon Spirit   

    Speaking to Arup Thakur, CFO of Pincon Spirit, said the efforts undertaken by the company in the last quarter have paid off in this current quarter. New products and geographical spreads have helped the company, he said.

    26 Jul 2016, 10.28 am  |  Source: CNBC-TV18

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