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Business News

  • Nomura sees 25% growth in June CV sales, passenger units flat

    Nomura sees 25% growth in June CV sales, passenger units flat  

    Nomura expects heavy commercial vehicle segment to see 25 percent growth in June sales against 20 percent in the previous month and 2-wheeler sales growth to be at around 10-12 percent.

    30 Jun 2016, 5.28 pm  |  Source: Moneycontrol.com

  • May core sector growth slows to 2.8% vs 8.5% in April

    May core sector growth slows to 2.8% vs 8.5% in April  

    The eight 'core' sectors of the Indian economy grew 2.8 percent year-on-year in May, government data released today showed, having slowed from 8.5 percent in April.

    30 Jun 2016, 5.21 pm  |  Source: Moneycontrol.com

  • HDFC Bank aims to double SME book in four years

    HDFC Bank aims to double SME book in four years  

    Private sector lender HDFC Bank is targeting to double SME loan portfolio over the next four years by using digital technology and deepening its network to more non-metro areas

    30 Jun 2016, 4.30 pm  |  Source: PTI

  • Indian money in Swiss banks dips 33% to Rs 8,392 cr

    Indian money in Swiss banks dips 33% to Rs 8,392 cr  

    The funds held by Indians with banks in Switzerland fell by CHF 596.42 million to CHF 1,217.6 million at the end of 2015, as per the latest data released today by the country's central banking authority SNB (Swiss National Bank).

    30 Jun 2016, 3.54 pm  |  Source: PTI

  • Airtel service in Arunachal Pradesh towns

    Airtel service in Arunachal Pradesh towns  

    Airtel is the largest mobile services provider in Arunachal Pradesh and offers 2G, 3G and 4G services to customers.

    30 Jun 2016, 3.32 pm  |  Source: PTI

  • Torrent Pharma to acquire Glochem`s Vizag-based facility

    Torrent Pharma to acquire Glochem's Vizag-based facility  

    The company has entered a binding agreement to acquire the Vizag API manufacturing unit of Hyderabad-based Glochem Industries along with a few drug master files (DMF) as a going concern on slump sale basis, Torrent Pharma said in ...

    30 Jun 2016, 3.30 pm  |  Source: PTI

  • Hope for strong successor to Raghuram Rajan soon: Naushad Forbes

    Hope for strong successor to Raghuram Rajan soon: Naushad Forbes  

    On June 18, buffeted by political attacks, including by BJP MP Subramanian Swamy, coupled with unending speculation over his continuance, Rajan had said no to a second term -- a surprise decision the industry and opposition partie...

    30 Jun 2016, 3.24 pm  |  Source: PTI

  • Bank of Maharashtra plans to raise Rs 1,000 cr to propel growth

    Bank of Maharashtra plans to raise Rs 1,000 cr to propel growth  

    "The meet was held to seek shareholders consent to raise Rs 1,000 crore by way of FPO/ Rights issue/ QIPs etc to meet capital requirements as per RBI's Basel III norms to tap future growth opportunities," Bank of Maharashtra said ...

    30 Jun 2016, 2.40 pm  |  Source: PTI

  • World Bank commits $1 bn for solar projects in India

    World Bank commits $1 bn for solar projects in India  

    It also signed an agreement with the International Solar Alliance (ISA), consisting of 121 countries led by India, to collaborate on increasing solar energy use across the world, with a goal of mobilising USD 1 trillion in investm...

    30 Jun 2016, 2.26 pm  |  Source: PTI

  • Kirloskar partners with Gulf Petrochem to launch K-Oil

    Kirloskar partners with Gulf Petrochem to launch K-Oil  

    The engine oil will be launched following an extensive six-month engine trial and product evaluation and will build upon strong foundations in India, where K-Oil has been servicing engines, spare parts and gensets for over 15 year...

    30 Jun 2016, 1.58 pm  |  Source: PTI

  • Ruias plan to sell another 25% stake in Essar Oil

    Ruias plan to sell another 25% stake in Essar Oil  

    The sale of 74 percent stake (49 percent to Rosneft and 25 percent some other investor) will help bring down Group debt by half to about Rs 46,000 crore from current Rs 88,000 crore, sources said.

    30 Jun 2016, 1.28 pm  |  Source: PTI

  • See UK subsidiary adding $100 million revenues: LT Foods

    See UK subsidiary adding $100 million revenues: LT Foods   

    LT Foods aims to strengthen its presence in Europe with the help of the LT Foods International — its UK subsidiary, said VK Arora, Chairman and Managing Director of LT Foods.

    30 Jun 2016, 1.26 pm  |  Source: CNBC-TV18

  • Lenders approve co’s plan to re-align debt: Diamond Power

    Lenders approve co’s plan to re-align debt: Diamond Power   

    Lenders have approved re-alignment of debt as per a plan submitted by the company, said Amit Bhatnagar of Diamond Power Infrastructure.

    30 Jun 2016, 1.15 pm  |  Source: CNBC-TV18

  • Thermax wants to keep double-digit profits, shun big projects

    Thermax wants to keep double-digit profits, shun big projects   

    Speaking to CNBC-TV18's MS Unnikrishnan, MD & CEO of Thermax said Brexit will have short-term ramifications.

    30 Jun 2016, 12.30 pm  |  Source: CNBC-TV18

  • Gayatri Projects bags Rs 306 cr road project

    Gayatri Projects bags Rs 306 cr road project  

    "Gayatri Projects has secured a Rs 306 crore contract for the four-laning of a highway on the Andhra Pradesh-Tamil Nadu border from the Ministry of Road Transport and Highways," Gayatri Projects said in a BSE filing.

    30 Jun 2016, 12.20 pm  |  Source: PTI

  • Audi eyes smaller cities, North-East to spur growth

    Audi eyes smaller cities, North-East to spur growth  

    "North-Eastern (region in) India is a focus area for us and we are looking forward to welcome new members to the Audi family from the region," Audi India Head Joe King told PTI.

    30 Jun 2016, 12.14 pm  |  Source: PTI

  • Cisco to partner with startups, cos for smart solutions

    Cisco to partner with startups, cos for smart solutions  

    Cisco LaunchPad is designed to help start-ups, its authorised channel partners and developers scale up their solutions, address new markets and build digital businesses, he added.

    30 Jun 2016, 11.26 am  |  Source: PTI

  • Burnpur Cement sees revenues growing 30% this fiscal year

    Burnpur Cement sees revenues growing 30% this fiscal year   

    Burnpur Cement, a key cement player in the eastern India reported a revenue of Rs 35 crore in Q4 in FY16. In order to increase its market share and position, the company has shifted focus to distribution system, by increasing the ...

    30 Jun 2016, 11.23 am  |  Source: CNBC-TV18

  • Alembic Pharma says plants successfully inspected by USFDA

    Alembic Pharma says plants successfully inspected by USFDA  

    "The company's API facilities i.e. API I and API II both located at Panelav have been successfully inspected by the USFDA between June 20, 2016 and June 29, 2016. The company did not receive any Form 483 observations," Alembic Pha...

    30 Jun 2016, 11.12 am  |  Source: PTI

  • Vedanta eyes 1.7 mt aluminium output this fiscal

    Vedanta eyes 1.7 mt aluminium output this fiscal  

    "Ever since April 1 this year, we have been ramping up our aluminium lines at Balco and Odisha. We would expect that all the Balco lines would be raised this year," Vedanta Limited Group CEO Tom Albanese told PTI.

    30 Jun 2016, 11.04 am  |  Source: PTI

  • Domestic consumption-led services will remain on TeamLease radar

    Domestic consumption-led services will remain on TeamLease radar   

    Speaking to CNBC-TV18, he says the overall theme of “lower regulatory cholesterol for job creation” has been on for last few years and significant improvement has been seen in terms of job creation.

    30 Jun 2016, 10.48 am  |  Source: CNBC-TV18

  • Dabur says demand is down, looks to grow in high single-digits

    Dabur says demand is down, looks to grow in high single-digits   

    Demand, which continues to be weak, will improve only in the second half of FY17 on the back of pay hikes, monsoon and 24x7 opening of shops, says Lalit Malik, CFO of Dabur India.

    30 Jun 2016, 10.21 am  |  Source: CNBC-TV18

  • Future eyes new innovations; for Raymond online is critical play

    Future eyes new innovations; for Raymond online is critical play   

    Speaking to CNBC-TV18 Rakesh Biyani of Future Enterprises said the maximum jobs are created in the services sector. He went on to talk about the Model Shop & Establishment Act that got cleared by the Cabinet yesterday.

    30 Jun 2016, 10.10 am  |  Source: CNBC-TV18

  • 5-tonners to keep growing at 25%, says Eicher Motors

    5-tonners to keep growing at 25%, says Eicher Motors   

    Speaking to CNBC-TV18 Vinod Aggarwal of Eicher Motors said tippers are doing brisk business for the company. He added that as domestic consumption increases, thanks to the Seventh Pay Commission hikes, it will help the commercial ...

    30 Jun 2016, 9.40 am  |  Source: CNBC-TV18

  • Pay hikes to boost retail loan growth by 17-20%: SBI

    Pay hikes to boost retail loan growth by 17-20%: SBI   

    With monsoon playing well and implementation of 7th Pay Commission, growth trajectory is coming back in the economy, says VG Kannan, Managing Director of SBI.

    30 Jun 2016, 9.10 am  |  Source: CNBC-TV18

  • Prices may remain firm for 2 yrs on supply lack: Sakthi Sugars

    Prices may remain firm for 2 yrs on supply lack: Sakthi Sugars   

    For every Re 1 increase in sugar prices, the company’s earnings improve by nearly Rs 20 crore, he says. Currently, sugar prices are around Rs 34-35 per kilogram, which is breakeven level for sugar companies and anything above th...

    30 Jun 2016, 9.00 am  |  Source: CNBC-TV18

  • Meru raises Rs 150 cr from BCCL`s Brand Capital

    Meru raises Rs 150 cr from BCCL's Brand Capital  

    Meru will use the funds to further strengthen foothold in the Indian market with a focus on providing quality service based on a sustainable business model, it said in a statement.

    30 Jun 2016, 8.54 am  |  Source: PTI

  • Godrej Appliances eyes Rs 200 cr from medical refrigerators

    Godrej Appliances eyes Rs 200 cr from medical refrigerators  

    The company has added six offerings this year and plans to set up a capacity of 30,000 units over the next two years.

    30 Jun 2016, 8.54 am  |  Source: PTI

  • Indiabulls Real Estate raises Rs 75 cr via debentures

    Indiabulls Real Estate raises Rs 75 cr via debentures  

    Earlier this month, the Mumbai-based company had announced that it proposes to raise up to Rs 200 crore through issue of NCDs on private placement basis.

    30 Jun 2016, 8.50 am  |  Source: PTI

  • Irdai imposes Rs 10 lakh penalty on Max Life Insurance

    Irdai imposes Rs 10 lakh penalty on Max Life Insurance  

    "In conclusion, as directed under the respective charges, the penalty of Rs 10 lakh shall be remitted by the life insurer by debiting shareholders' account within a period of 15 days from the date of receipt of this order", Insura...

    30 Jun 2016, 8.50 am  |  Source: PTI

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