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Business News

  • 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

  • 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

  • Muthoot Finance invests Rs 40 cr in BIFPL; stake rises to 46.8%

    Muthoot Finance invests Rs 40 cr in BIFPL; stake rises to 46.8%  

    The company further said that acquisition of 10.32 percent from the existing shareholders is expected to be completed soon thereby taking the total holding to 57.15 percent making it a subsidiary.

    27 Jul 2016, 9.00 pm  |  Source: PTI

  • RBI slaps Rs 27-cr penalty on 13 banks for FEMA violations

    RBI slaps Rs 27-cr penalty on 13 banks for FEMA violations  

    On the basis of inputs received from a public sector bank, the Reserve Bank had undertaken a scrutiny on advance import remittances in 21 banks in October and November 2015.

    27 Jul 2016, 9.00 pm  |  Source: PTI

  • Shriram Transport Finance to raise Rs 25k cr, buy back bonds

    Shriram Transport Finance to raise Rs 25k cr, buy back bonds  

    The board of directors at its meeting has "approved issuance of redeemable non-convertible debentures on private placement basis up to Rs 25,000 crore in the annual general meeting held today", it said in a BSE filing.

    27 Jul 2016, 9.00 pm  |  Source: PTI

  • Amtek looking to sell non-core biz, stake in overseas cos

    Amtek looking to sell non-core biz, stake in overseas cos  

    "The company is considering various means to deleverage the balancesheet by selling of non-core business, minority stake in its overseas companies and sale of industrial real estate assets within the group business," Amtek Auto sa...

    27 Jul 2016, 7.50 pm  |  Source: PTI

  • Hinduja Global Solutions to hire over 200 in UK

    Hinduja Global Solutions to hire over 200 in UK  

    "HGS will hold a job fair to recruit 237 permanent and temporary customer service representative positions. The job fair will take place at HGS' Winckley House in Preston on Thursday," the company said in a statement.

    27 Jul 2016, 7.50 pm  |  Source: PTI

  • MIP on steel products did not have desired impact: JSW Steel

    MIP on steel products did not have desired impact: JSW Steel   

    Speaking to CNBC-TV18, Seshagiri Rao of JSW Steel said minimum import prices, implemented on 173 products earlier this year, did not have the desired effect on imports.

    27 Jul 2016, 7.44 pm  |  Source: CNBC-TV18

  • Zoho to hire 4,000 people in 3-4 years, bets on SMEs

    Zoho to hire 4,000 people in 3-4 years, bets on SMEs  

    The company, which currently has some 4,000 people on its payroll, has development centres in Chennai and Tenkasi (Tamil Nadu) which work on products like customer relationship management (CRM) and enterprise e-mail solutions.

    27 Jul 2016, 7.28 pm  |  Source: PTI

  • UK drugs giant GSK to invest 275 million pounds despite Brexit

    UK drugs giant GSK to invest 275 million pounds despite Brexit  

    The investment -- worth USD 361 million or 328 million euros -- will be ploughed into facilities in Barnard Castle in northeastern England, Ware in the southeast, and Montrose in Scotland, GSK said in a statement.

    27 Jul 2016, 7.28 pm  |  Source: PTI

  • Will accept punishment if proven to conspired with NSEL: FTIL

    Will accept punishment if proven to conspired with NSEL: FTIL   

    Financial Technologies has filed fresh application in the Bombay High Court against Economic Offences Wing (EOW) for attachment of its bank account, reports CNBC-TV18. Hearing in this case is scheduled for July 28.

    27 Jul 2016, 7.27 pm  |  Source: CNBC-TV18

  • Corp sector may clock single digit profitability this fiscal

    Corp sector may clock single digit profitability this fiscal  

    An India Ratings and Research report said companies having strong cash flow generation ability and low debt levels are likely to benefit from a gradual revival in the economy as nominal gross domestic product (GDP) growth picks up...

    27 Jul 2016, 7.08 pm  |  Source: PTI

  • Flat steel production up 48% in Apr-Jun: Essar Steel

    Flat steel production up 48% in Apr-Jun: Essar Steel  

    "By the end of FY 2016-17, Essar Steel India expects to record a marked increase in its capacity utilisation and produce 80 percent of its rated capacity," the company said in a statement.

    27 Jul 2016, 7.08 pm  |  Source: PTI

  • Antrix-Devas deal: India to appeal against Hague tribunal`s

    Antrix-Devas deal: India to appeal against Hague tribunal's  

    India lost the arbitration case in a Permanent Court of Arbitration (PCA) tribunal based in the Hague over its space marketing PSU Antrix Corp annulling a contract with Bengaluru-based private multimedia firm Devas.

    27 Jul 2016, 7.08 pm  |  Source: PTI

  • Xiaomi rolls out first laptop to take on Lenovo, Apple

    Xiaomi rolls out first laptop to take on Lenovo, Apple  

    The laptop Mi Notebook Air, runs on Microsoft's Windows 10 operating system, sells for 4,999 yuan (around USD 749 ) for a 13.3-inch display.

    27 Jul 2016, 6.28 pm  |  Source: PTI

  • CCI approves BSA International-Anik Industries deal

    CCI approves BSA International-Anik Industries deal  

    Both entities had entered into an agreement for the deal, which is on slump sale basis, in March. BSA International would buy Anik Industries' dairy business that includes manufacturing, marketing and distribution of milk and rela...

    27 Jul 2016, 6.10 pm  |  Source: PTI

  • Ex-Myntra Finance Head Prabhakar Sunder joins Voonik as CFO

    Ex-Myntra Finance Head Prabhakar Sunder joins Voonik as CFO  

    Prabhakar Sunder brings over 15 years of experience in capital raising, corporate finance, financial reporting and compliance, treasury and fund management, etc.

    27 Jul 2016, 6.10 pm  |  Source: PTI

  • RPG Life Sciences inks pact to acquire Sun Pharma`s 7 brands

    RPG Life Sciences inks pact to acquire Sun Pharma's 7 brands  

    The move is in line with the RPG's strategy to focus on formulation business. The acquired brands are primarily in respiratory and urology segments. In addition to this, three products will compliment the company's existing range,...

    27 Jul 2016, 6.10 pm  |  Source: PTI

  • Court issues Letter Rogatory to Singapore in Lalit Modi case

    Court issues Letter Rogatory to Singapore in Lalit Modi case  

    The LR, a formal request from a Court to a foreign court for judicial assistance in a case, would be sent to the competent authority in Singapore through the Union Ministry of Home Affairs.

    27 Jul 2016, 5.02 pm  |  Source: PTI

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