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Business News

  • BPCL acquires 21% stake in FINO PayTech for Rs 251 crore

    BPCL acquires 21% stake in FINO PayTech for Rs 251 crore  

    BPCL has entered into an agreement for acquiring 21 percent stake on fully diluted basis in the share capital of FINO PayTech for a consideration of Rs 251 crore in an all cash deal, BPCL said in a BSE filing.

    29 Jul 2016, 10.17 pm  |  Source: PTI

  • DHFL to raise Rs 4,000 cr via NCDs

    DHFL to raise Rs 4,000 cr via NCDs  

    The housing finance firm will be issuing secured redeemable NCDs of face value of Rs 1,000 each aggregating up to Rs 4,000 crore, the company said in a statement here. The issue size is Rs 1,000 crore with an option to retain over...

    29 Jul 2016, 10.11 pm  |  Source: PTI

  • GCPL to merge 2 overseas subsidiaries with itself

    GCPL to merge 2 overseas subsidiaries with itself  

    "Both the transferor companies are wholly-owned subsidiaries of GCPL. As per the scheme GCPML and GCPUSHL will be amalgamated into GCPL," the company said in a BSE filing.

    29 Jul 2016, 10.02 pm  |  Source: PTI

  • Inshorts open to having an overseas partnership

    Inshorts open to having an overseas partnership   

    Here's another CNBC-TV18 exclusive -- this time from the start-up space. Inshorts, which aggregates news in just 60 words, is all set to go global. CNBC-TV18's Adith Charlie and Arundathi Ramanan look at what the company has achie...

    29 Jul 2016, 9.50 pm  |  Source: CNBC-TV18

  • Flipkart laying off at least 700 employees to cut costs

    Flipkart laying off at least 700 employees to cut costs   

    India's largest e-commerce player Flipkart is sacking at least 700 employees, or over 3 percent of its workforce, as it looks to cut cost to compete with rivals like Amazon and Snapdeal.

    29 Jul 2016, 9.04 pm  |  Source: PTI

  • Capital infusion of Rs 7,575 cr to boost loan growth: SBI

    Capital infusion of Rs 7,575 cr to boost loan growth: SBI  

    The recently announced Rs 7,575 crore capital infusion by the government will help push credit growth, SBI said today.

    29 Jul 2016, 8.20 pm  |  Source: PTI

  • Spicejet may place order for new aircraft: Singh

    Spicejet may place order for new aircraft: Singh  

    No-frills carrier SpiceJet, which is in discussions with global aircraft makers --Boeing and Airbus -- for quite some time now, may place order for new aircraft by the end of the current quarter, airline chief Ajay Singh said toda...

    29 Jul 2016, 8.20 pm  |  Source: PTI

  • GST is complex, near-term disruptions likely on rollout: Pros

    GST is complex, near-term disruptions likely on rollout: Pros   

    The Finance Ministry will soon move the Cabinet with changes in the GST Constitutional Amendment Bill providing for full compensation to states for the first five years of roll-out of the new indirect tax regime.

    29 Jul 2016, 7.33 pm  |  Source: CNBC-TV18

  • Unclaimed amount with insurance firms at Rs 11,668 crore

    Unclaimed amount with insurance firms at Rs 11,668 crore  

    Unclaimed amount of policyholders with insurance companies (both life and non-life) has reached around Rs 11,668 crore as on March 31, 2016, Parliament was informed today.

    29 Jul 2016, 5.54 pm  |  Source: PTI

  • NSEL case:Centre requests Maha govt to expedite assets auction

    NSEL case:Centre requests Maha govt to expedite assets auction  

    The Centre has requested the Maharashtra government to expedite auction of properties attached in the Rs 5,600 crore NSEL payment crisis matter and also deploy full time "competent authorities" for dealing with work related to the...

    29 Jul 2016, 5.52 pm  |  Source: PTI

  • 854 investor complaints against cos in April-June, says govt

    854 investor complaints against cos in April-June, says govt  

    In a written reply to the Lok Sabha, Minister of State for Finance Arjun Ram Meghwal said the complaints received against companies in the current fiscal till June 30 stood at 854. Of these, 638 were resolved.

    29 Jul 2016, 4.08 pm  |  Source: PTI

  • Spurt in defence revenues may raise margins: Premier Explosives   

    The company saw a turnaround, reporting a net profit of Rs 1.7 crore in the first quarter of FY17 as against a loss of Rs 1.5 crore in the same period last year.

    29 Jul 2016, 3.56 pm  |  Source: CNBC-TV18

  • CCI rejects complaint against realtor Genius Propbuild

    CCI rejects complaint against realtor Genius Propbuild  

    It was alleged that unfair terms and conditions were imposed with regard to housing residential complex 'Avalon Rangoli' in Alwar district of Rajasthan.

    29 Jul 2016, 3.56 pm  |  Source: PTI

  • Eicher`s Sid doffs hat to Rajiv Bajaj, eyes 30% margin growth

    Eicher's Sid doffs hat to Rajiv Bajaj, eyes 30% margin growth   

    Currently, the company is mainly focusing on building a future for Royal Enfield, says Siddhartha Lal, Managing Director and CEO of Eicher Motors.

    29 Jul 2016, 3.47 pm  |  Source: CNBC-TV18

  • Fixing drug prices helped consumers save Rs 5,000 cr: Govt

    Fixing drug prices helped consumers save Rs 5,000 cr: Govt  

    It had fixed ceiling prices of 530 scheduled formulations in accordance with DPCO 2013 including medicines for diabetes, cardiovascular diseases, HIV/AIDS, tuberculosis and cancer till February 29, 2016, Minister for Chemicals and...

    29 Jul 2016, 3.36 pm  |  Source: PTI

  • Carmakers against steel MIP getting an extension: Srcs

    Carmakers against steel MIP getting an extension: Srcs   

    CNBC-TV18 learns that carmakers are against the protectionist MIP on certain high-grade steel products. Infact, they have written to the steel ministry, urging them to discontinue it. They believe that if the MIP is extended, it w...

    29 Jul 2016, 3.33 pm  |  Source: Moneycontrol.com

  • DRL, Cipla, Aurobindo among others to buy products from Teva

    DRL, Cipla, Aurobindo among others to buy products from Teva  

    According to a statement issued by US FTC, Teva has agreed to sell the rights and assets related to 79 pharmaceutical products to settle FTC charges that its proposed USD 40.5 billion acquisition of Allergan plc's generic pharma...

    29 Jul 2016, 3.33 pm  |  Source: PTI

  • Govt to bring mobile coverage to over 55,600 villages in 5 years

    Govt to bring mobile coverage to over 55,600 villages in 5 years  

    At present, 5.41 lakh villages out of the total 5.97 lakh in India are covered by mobile services, leaving 55,669 out of the ambit - that is 9.31 percent without coverage.

    29 Jul 2016, 3.26 pm  |  Source: PTI

  • To shift focus to large animal health products: Hester Bio

    To shift focus to large animal health products: Hester Bio   

    Twenty three percent revenue run rate is sustainable for the full year, said Rajiv Gandhi, CEO & MD of Hester Biosciences.

    29 Jul 2016, 3.10 pm  |  Source: CNBC-TV18

  • HMSI to double pre-owned two-wheeler outlets to 200 by 2018

    HMSI to double pre-owned two-wheeler outlets to 200 by 2018  

    The company, whose flagship scooter brand Activa last month became the largest selling two-wheeler in the country, opened the 100th Best Deal outlet here today.

    29 Jul 2016, 3.08 pm  |  Source: PTI

  • PVR eyes 4-5% growth in ticket prices for this fiscal year

    PVR eyes 4-5% growth in ticket prices for this fiscal year  

    Revenue growth during the first quarter has been aided by 6-7 percent growth in average ticket price to Rs 193, said PVR CFO Nitin Sood in an interview to CNBC-TV18.

    29 Jul 2016, 3.07 pm  |  Source: CNBC-TV18

  • Monsoon, festivities, 7th pay to boost performance: Munjal Showa

    Monsoon, festivities, 7th pay to boost performance: Munjal Showa   

    After seeing increased demand for scooters in rural areas, the company has increased its capacity by about 10 percent, Yogesh Munjal, MD of Munjal Showa told CNBC-TV18

    29 Jul 2016, 3.00 pm  |  Source: CNBC-TV18

  • BHEL bags Rs 437 crore order for solar power projects

    BHEL bags Rs 437 crore order for solar power projects  

    With these new orders, the company's solar portfolio now stands at 300 MW, BHEL said in a press release.

    29 Jul 2016, 2.51 pm  |  Source: PTI

  • Mercator eyes growth from govt plans to invest in marine infra

    Mercator eyes growth from govt plans to invest in marine infra   

    Shalabh Mittal, MD & CEO, Mercator an interview to CNBC-TV18 while sharing his views on first quarter numbers and business outlook going forward said in the quarter gone by they managed to post growth in most segments, especially ...

    29 Jul 2016, 2.47 pm  |  Source: CNBC-TV18

  • We are planning 6-8 new launches this fiscal yr: Alembic Pharma

    We are planning 6-8 new launches this fiscal yr: Alembic Pharma   

    Speaking to CNBC-TV18 Pranav Amin, Managing Director of Alembic Pharmaceuticals, said that good Q1 numbers were led by international business. Sales of its anti-psychotic drug Abilify was one of the reasons the company saw higher ...

    29 Jul 2016, 2.35 pm  |  Source: CNBC-TV18

  • Vaibhav Global hopes to sustain its revenue growth in future

    Vaibhav Global hopes to sustain its revenue growth in future   

    Aggarwal says the current composition of sales is 80 percent from television and 20 percent from web. He claims that the margins from both are equal.

    29 Jul 2016, 2.16 pm  |  Source: CNBC-TV18

  • Ajanta Pharma gets USFDA nod for generic acid reflux drug

    Ajanta Pharma gets USFDA nod for generic acid reflux drug  

    The company has received approval from the United States Food and Drug Administration (USFDA) for the same and will soon be launching the product, Ajanta Pharma said in a BSE filing.

    29 Jul 2016, 2.02 pm  |  Source: PTI

  • Working on newer models, Q2 to be better: Mahindra CIE`s Luthra

    Working on newer models, Q2 to be better: Mahindra CIE's Luthra   

    The company has been able to bring the cost as a result of which there has been a sequential increase in margins both standalone consolidated and at the subsidiary, said Hemant Luthra, Chairman, Mahindra CIE.

    29 Jul 2016, 1.57 pm  |  Source: CNBC-TV18

  • PSBs strike may affect transactions worth Rs 15,000 cr: Assocham

    PSBs strike may affect transactions worth Rs 15,000 cr: Assocham  

    The United Forum of Banks Unions (UFBU), an umbrella organisation of nine bank employees and officers unions representing 8 lakh staffers, has gone ahead with the strike, affecting services like cheque clearances, cash deposit and...

    29 Jul 2016, 1.56 pm  |  Source: PTI

  • Tata Power`s South African JV operationalises 134 mw wind farm

    Tata Power's South African JV operationalises 134 mw wind farm  

    "Cennergi (Pty) Ltd, Tata Power's 50:50 joint venture with Exxaro Resources in South Africa, achieved commercial operations for its 134 mw Amakhala Emoyeni wind farm project yesterday," Tata Power said in a BSE filing.

    29 Jul 2016, 1.52 pm  |  Source: PTI

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