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  • ING sells 2.5% stake in Kotak Mahindra Bank for Rs 3,653 crore

    ING sells 2.5% stake in Kotak Mahindra Bank for Rs 3,653 crore  

    ING Mauritius Investments, the investment arm of the Dutch bank, sold a total of 4.67 crore shares, representing Kotak Mahindra Bank's 2.5 per cent stake, according to bulk deal data available with the stock exchanges.

    29 Sep 2016, 8.38 pm  |  Source: PTI

  • Apple sets up R&D centre in Beijing

    Apple sets up R&D centre in Beijing  

    It will have 500 employees, and will focus on developing computer hardware, communications, audio and video equipment, consumer electronics technology and information technology, state-run People's Daily reported.

    29 Sep 2016, 8.38 pm  |  Source: PTI

  • GCPL expects revival in rural demand by next quarter

    GCPL expects revival in rural demand by next quarter  

    After a sluggish growth in last two years, FMCG major Godrej Consumer Products (GCPL) sees a revival in the rural demand on account of good monsoon.

    29 Sep 2016, 8.14 pm  |  Source: PTI

  • Hind Copper share sale: Institutions put in Rs 500 cr bids

    Hind Copper share sale: Institutions put in Rs 500 cr bids  

    State-owned Hindustan Copper's share sale today garnered 1.56 times subscription, totalling Rs 500 crore, with most of the bids coming from LIC and mutual funds.

    29 Sep 2016, 8.14 pm  |  Source: PTI

  • SMEV asks govt to continue low tax rates on EVs under GST

    SMEV asks govt to continue low tax rates on EVs under GST  

    Electric vehicle (EV) manufacturers have asked the government to continue the benefits of lower excise and VAT on EVs under the GST regime by keeping it at the lowest slab.

    29 Sep 2016, 8.14 pm  |  Source: PTI

  • Tata Steel says making progress on extra land for Odisha plant

    Tata Steel says making progress on extra land for Odisha plant  

    Tata Steel, which has the capacity to make 27 million tonnes of steel in Asia and Europe, wants to add more in its home base in India where demand for the alloy is expected to grow faster than elsewhere in the world.

    29 Sep 2016, 7.55 pm  |  Source: Reuters

  • Govt asks Nalco to review $ 2 billion smelter project in Iran

    Govt asks Nalco to review $ 2 billion smelter project in Iran  

    Nalco has been in the process of setting up a 5 lakh tonnes aluminium smelter in Iran, where is can get natural gas at cheap rates. Power accounts for 40 per cent of the input costs in making aluminium.

    29 Sep 2016, 7.44 pm  |  Source: PTI

  • Nettlinx raises $3 million from strategic investors

    Nettlinx raises $3 million from strategic investors  

    Hyderabad-based Internet infrastructure company Nettlinx Limited today said it has raised USD three million (about Rs 20 crore) from strategic investors.

    29 Sep 2016, 7.36 pm  |  Source: PTI

  • Sintex board approves demerger of custom moulding, prefab biz

    Sintex board approves demerger of custom moulding, prefab biz  

    Plastic products maker Sintex Industries today said its board has approved demerger of custom moulding business and prefab business from its two arms Sintex BAPL and Sintex Infra Projects, respectively.

    29 Sep 2016, 7.26 pm  |  Source: PTI

  • LG India eyes top slot in flat panels biz

    LG India eyes top slot in flat panels biz  

    "We are now in the second position in flat panel and hoping to achieve the top position by this Diwali," LG Electronics India head, corporate marketing, Niladri Datta said here.

    29 Sep 2016, 7.04 pm  |  Source: PTI

  • ICICI Pru will outpace market growth: Kochhar

    ICICI Pru will outpace market growth: Kochhar  

    She said the company has been growing at over 15 percent per annum over the last 4-5 years, while estimates peg the life insurance industry to grow between 11-13 percent in the next few years.

    29 Sep 2016, 6.54 pm  |  Source: PTI

  • `Genuine` biz failure of Kingfisher now a `nightmare`: Mallya

    'Genuine' biz failure of Kingfisher now a 'nightmare': Mallya  

    Beleaguered liquor baron Vijay Mallya today said Kingfisher Airlines has turned out to be a 'nightmare' and blamed government's adverse taxation policies and higher fuel prices for the business failure.

    29 Sep 2016, 6.54 pm  |  Source: PTI

  • India`s denim industry to cross Rs 54,000 crore in 5 yrs

    India's denim industry to cross Rs 54,000 crore in 5 yrs  

    Number of denim manufacturers has almost doubled to 42 now from 25 five years ago. But around 30 percent of this capacity remained idle due to excess production capacity.

    29 Sep 2016, 6.32 pm  |  Source: PTI

  • Zeta eyes $25 million investment by FY18

    Zeta eyes $25 million investment by FY18  

    "USD 19 million capital has been committed into Zeta in two rounds. We have planned a serious push as far as marketing is concerned," Zeta CEO and co-founder Bhavin Turakhia said.

    29 Sep 2016, 6.32 pm  |  Source: PTI

  • Merc launches 9th locally assembled model GLC SUV at Rs 47.9 L

    Merc launches 9th locally assembled model GLC SUV at Rs 47.9 L  

    The new model comes in both diesel and petrol variants and is little over Rs 5 lakh cheaper than the imported version.

    29 Sep 2016, 6.32 pm  |  Source: PTI

  • Max Life, HDFC Life merger to be completed in 12 months

    Max Life, HDFC Life merger to be completed in 12 months  

    With Max Financial Services getting merger approval from minority shareholders, the amalgamation of Max Life and HDFC Life is likely to be completed in the next 12 months.

    29 Sep 2016, 6.00 pm  |  Source: PTI

  • USFDA makes 13 observations against Alkem`s Daman plant

    USFDA makes 13 observations against Alkem's Daman plant  

    An FDA Form 483 is issued to firm management at the conclusion of an inspection "when an investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic Act and related A...

    29 Sep 2016, 6.00 pm  |  Source: PTI

  • Can Airtel adjust Rs 3000cr against licence fees, HC asks Govt

    Can Airtel adjust Rs 3000cr against licence fees, HC asks Govt  

    A bench of Chief Justice G Rohini and Justice Sangita Dhingra Sehgal asked the lawyer appearing for the Department of Telecommunications (DoT) to take instructions on whether Airtel will be allowed to adjust the amount, including ...

    29 Sep 2016, 6.00 pm  |  Source: PTI

  • Sebi cancels Alliance Capital MF registration

    Sebi cancels Alliance Capital MF registration  

    At the request of Alliance Capital Mutual Fund, Sebi has cancelled the certificate of registration of Alliance Capital MF and has withdrawn the approval granted to Alliance Capital Asset Management (India) Pvt Ltd, to act as the a...

    29 Sep 2016, 6.00 pm  |  Source: PTI

  • COAI DG rules out overhaul of voting rules, apology to RJio

    COAI DG rules out overhaul of voting rules, apology to RJio  

    "I don't believe there is any need for an apology. The Director General acts in accordance with the rules, regulations and constitution of the association. DG does not make independent statements expressing his point of view," Mat...

    29 Sep 2016, 5.46 pm  |  Source: PTI

  • Singapore healthcare company seeks partners in India

    Singapore healthcare company seeks partners in India  

    Napier Healthcare, which markets globally specialised healthcare IT solutions engineered from its centres in Chennai and Hyderabad, is looking for partners to reach out to more hospitals in India and its rural areas, Napier chief ...

    29 Sep 2016, 5.46 pm  |  Source: PTI

  • Mallya made UBHL Principal Officer, monitoring ops from London

    Mallya made UBHL Principal Officer, monitoring ops from London  

    Mallya, who is the Chairman of the company, is wanted in India in connection with loan default of over Rs 9,000 crore from various banks linked to the defunct Kingfisher Airlines, has been based in the UK since March this year.

    29 Sep 2016, 5.22 pm  |  Source: PTI

  • Royals, CSK refunded 30% of franchise fees by BCCI

    Royals, CSK refunded 30% of franchise fees by BCCI  

    Both these franchises, which have been suspended for two years from playing in IPL by the Justice Lodha committee as punishment for their owners indulging in betting, had paid the franchise fees under protest.

    29 Sep 2016, 5.22 pm  |  Source: PTI

  • Lupin gets USFDA nod for generic Alzheimer treatment drug

    Lupin gets USFDA nod for generic Alzheimer treatment drug  

    The company has received final approval for the product in strengths of 7 mg, 14 mg, 21 mg, and 28 mg from the US Food and Drug Administration (USFDA), Lupin Ltd said in a regulatory filing.

    29 Sep 2016, 4.10 pm  |  Source: PTI

  • YES Bank plans to raise Rs 2,500 cr via long-term bonds

    YES Bank plans to raise Rs 2,500 cr via long-term bonds  

    "The bank proposes to raise funds by issuing senior unsecured listed rated redeemable long-term bonds in the form of debentures amounting to Rs 1,000 crore, with a green shoe option for an additional amount up to Rs 1,500 crore on...

    29 Sep 2016, 4.00 pm  |  Source: PTI

  • Global M&A drops to $2.50 trillion in January-September of 2016

    Global M&A drops to $2.50 trillion in January-September of 2016  

    According to preliminary data from global deal tracking firm Dealogic, the figure so far this year is USD 2.50 trillion, down 24 percent over last year when transactions worth USD 3.27 trillion were announced.

    29 Sep 2016, 3.56 pm  |  Source: PTI

  • Ujjivan to cut interest rates, pass on benefits to customers

    Ujjivan to cut interest rates, pass on benefits to customers   

    Ujjivan Financial Services Limited the micro finance lender announced interest cut Thursday to the tune of 75 basis points with effect for October 1, 2016.

    29 Sep 2016, 3.21 pm  |  Source: CNBC-TV18

  • Tata Steel plans 2nd phase expansion of Kalinganagar plant

    Tata Steel plans 2nd phase expansion of Kalinganagar plant  

    "Sometime in next six months a proposal will be sent to our board for its approval to start the second phase work at Kalinganagar, while the focus now is to achieve full 3 mtpa capacity in first phase fast," Tata Steel MD (India a...

    29 Sep 2016, 3.10 pm  |  Source: PTI

  • LIC MF inks mutual fund distribution pact with Karnataka Bank

    LIC MF inks mutual fund distribution pact with Karnataka Bank  

    "This would be a forward looking step for the bank to provide a complete financial solution to our esteemed customers," Karnataka Bank MD & CEO P Jayarama Bhat said, adding "this engagement increases the option for our customers t...

    29 Sep 2016, 2.46 pm  |  Source: PTI

  • Zee forays into radio biz through UAE co Hum FM takeover

    Zee forays into radio biz through UAE co Hum FM takeover  

    Following the acquisition, the Essel group firm has become the first entertainment network in the region to provide media solution to its partners through television, radio and digital platforms, ZEEL said in a statement.

    29 Sep 2016, 2.40 pm  |  Source: PTI

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