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Business News

  • Debt recast to help turnaround Brazilian arm: Shree Renuka

    Debt recast to help turnaround Brazilian arm: Shree Renuka   

    A Brazilian court has approved the reorganisation of the debt of Shree Renuka Sugars' subsidiary in the country. The recast slashes Renuka Vale do lvai's debt by Rs 168 crore, according to Narendra Murkumbi, Vice-chairman and Mana...

    27 Jul 2016, 3.35 pm  |  Source: CNBC-TV18

  • Hope to track coating industry growth of 9-10%: Akzo Nobel

    Hope to track coating industry growth of 9-10%: Akzo Nobel   

    Akzo Nobel India targets improving or at least sustaining margin over next 12-15 months, says MD Jayakumar Krishnaswamy.

    27 Jul 2016, 3.33 pm  |  Source: CNBC-TV18

  • Topline growth may pick up in H2, expect to retain margin: Dabur

    Topline growth may pick up in H2, expect to retain margin: Dabur  

    Speaking to CNBC-TV18 after reporting the first quarter results, Dabur CFO Lalit Malik says some benefits of monsoons and implementation of the 7th pay commission might help lift volumes albeit at a slow pace during the second hal...

    27 Jul 2016, 3.24 pm  |  Source: CNBC-TV18

  • Maruti to launch LCV Super Carry in India next month

    Maruti to launch LCV Super Carry in India next month  

    Initially, the vehicle will be sold in three cities Ahmedabad, Kolkata and Ludhiana - priced at Rs 4.03 lakh, Rs 4.11 lakh and Rs 4.01 lakh respectively, MSI said in a statement.

    27 Jul 2016, 3.18 pm  |  Source: PTI

  • Nationalise pvt banks not doing fin inclusion agenda: BJP MP

    Nationalise pvt banks not doing fin inclusion agenda: BJP MP  

    Raising the issue during Zero Hour in Lok Sabha, Chintaman Malviya alleged that banks like ICICI, Kotak Mahindra, YES and Axis have become "organised racket of profiteers" which have nothing to do with implementing schemes like th...

    27 Jul 2016, 3.18 pm  |  Source: PTI

  • Steel industry press govt to put off quality control order

    Steel industry press govt to put off quality control order  

    Terming the order "arbitrary", the Metal and Stainless Steel Merchant's Association (MSSMA), All India Stainless Steel Industries Association (AISSIA) and Process Plant & Machinery Association of India (PPMAI) claimed that the QC ...

    27 Jul 2016, 3.10 pm  |  Source: PTI

  • Hero Electronix buys India biz of Germany`s TES DST Holding

    Hero Electronix buys India biz of Germany's TES DST Holding  

    "With this partnership Hero Electronix now has the expertise to offer sophisticated technological products encompassing embedded software and hardware development for domains like automotive, avionics, transportation, industrial a...

    27 Jul 2016, 3.04 pm  |  Source: PTI

  • USL to stop manufacturing operations in Bihar due to ban

    USL to stop manufacturing operations in Bihar due to ban  

    USL, which has a plant at Hathidah, said that in the 2015-16 fiscal, Bihar contributed about Rs 100 crore or 1 percent to the company's total revenue.

    27 Jul 2016, 2.58 pm  |  Source: PTI

  • DRL may go for product filings in LatAM, APAC, North Africa

    DRL may go for product filings in LatAM, APAC, North Africa  

    The letter has resulted in a delay of some of important product launches this year and also necessitated a significant cost towards the remediation efforts, Prasad added.

    27 Jul 2016, 2.34 pm  |  Source: PTI

  • Expect sugar to do well; prices to improve: Ponni Sugars

    Expect sugar to do well; prices to improve: Ponni Sugars   

    N Ramanathan, Managing Director of Ponni Sugars told CNBC-TV18 that the company has been able to crush more sugarcane and improve sugar production this year. Therefore, improvement in average realisation, in sugar production and i...

    27 Jul 2016, 2.32 pm  |  Source: CNBC-TV18

  • New suitor offers $1.3 bn for Sahara`s overseas hotels

    New suitor offers $1.3 bn for Sahara's overseas hotels  

    A consortium of family office investors, comprising of Jesdev Saggar-led 3 Associates of the UK and others from the Middle East, has made the offer to acquire Sahara group's majority stake in the three marquee hotel properties -- ...

    27 Jul 2016, 2.18 pm  |  Source: PTI

  • Quebec to invest $133 mn in Tata Steel Minerals iron ore proj

    Quebec to invest $133 mn in Tata Steel Minerals iron ore proj  

    Tata Steel Minerals Canada (TSMC) is a JV established in October 2010 by the Indian firm and New Millennium Iron Corp with the former owning 94 percent.

    27 Jul 2016, 2.14 pm  |  Source: PTI

  • Uttam Galva likely to sell plants in Khopoli, Wardha

    Uttam Galva likely to sell plants in Khopoli, Wardha   

    The steel manufacturer is said to be in talks with players to sell its plants in Wardha and Khopoli and hopes to raise about Rs 7,000 crore from the sale, reports CNBC-TV18's Kritika Saxena.

    27 Jul 2016, 1.54 pm  |  Source: CNBC-TV18

  • Byndr raises $700,000 in seed funding

    Byndr raises $700,000 in seed funding  

    The Hyderabad-based firm will utilise the funds to expand its sales and development team, Byndr said in a statement.

    27 Jul 2016, 1.12 pm  |  Source: PTI

  • Looking forward to opening retail stores in India: Apple CEO

    Looking forward to opening retail stores in India: Apple CEO  

    "India is now one of our fastest growing markets. In the first three quarters of this fiscal year, our iPhone sales in India were up 51 percent year-on-year," Apple CEO Tim Cook said on an investor call.

    27 Jul 2016, 12.52 pm  |  Source: PTI

  • Restaurants adding drinks in menu to draw diners: Avendus report

    Restaurants adding drinks in menu to draw diners: Avendus report  

    Recently, popular coffee giant Starbucks extended its offering to wine and craft beer at its 70 US stores. Offering a relaxed and aromatic mood, Starbucks is trying to attract the drinking crowd in a safer-than-bar environment, th...

    27 Jul 2016, 12.49 pm  |  Source: Moneycontrol.com

  • Normalcy in operations to be restored soon: Crompton Greaves

    Normalcy in operations to be restored soon: Crompton Greaves  

    The company had earlier announced that it has halted operations at its manufacturing unit at Mandideep in Madhya Pradesh after it was hit by heavy rains.

    27 Jul 2016, 12.02 pm  |  Source: PTI

  • Reduced raw material costs impacted topline: Cosmo Films

    Reduced raw material costs impacted topline: Cosmo Films   

    Pankaj Poddar, CEO of Cosmo Films said that a 20 percent fall in polypropylene prices in the quarter impacted the company’s sales by about 12 percent, given that polypropylene price decreases were passed on to customers.

    27 Jul 2016, 11.43 am  |  Source: CNBC-TV18

  • Zee hopeful of beating market growth on ad revenues

    Zee hopeful of beating market growth on ad revenues   

    The company hopes to be one of the go-to players for FMCG and other companies for advertisments, according to Mihir Modi, Chief Finance and Strategy Officer, Zee Entertainment.

    27 Jul 2016, 11.40 am  |  Source: CNBC-TV18

  • Educomp to sell entire stake in Vidya Mandir Classes

    Educomp to sell entire stake in Vidya Mandir Classes  

    The sale is in compliance with Educomp's approved corporate debt restructuring scheme and in accordance with the master restructuring agreement executed with the lenders and with the approval of ICICI Bank, holder of the exclusive...

    27 Jul 2016, 11.40 am  |  Source: PTI

  • Canara Bank gets shareholders nod to raise up to Rs 2,000 cr

    Canara Bank gets shareholders nod to raise up to Rs 2,000 cr  

    "The issue proceeds will enable the bank to strengthen its capital adequacy requirements as specified by RBI from time to time", the bank had said.

    27 Jul 2016, 11.38 am  |  Source: PTI

  • Glenmark gets USFDA nod for potassium chloride tablets

    Glenmark gets USFDA nod for potassium chloride tablets  

    "Glenmark Pharmaceuticals Inc, USA has been granted final approval by the US Food and Drug Administration (USFDA) for Potassium Chloride Extended Release Tablets USP, 10mEq (750 mg) and 20mEq (1500mg)," it said in a BSE filing.

    27 Jul 2016, 11.26 am  |  Source: PTI

  • Expect 25% growth in sales this year, 20% EBITDA margin: Astec

    Expect 25% growth in sales this year, 20% EBITDA margin: Astec   

    In an interview to CNBC-TV18, Ashok Hiremath of Astec Lifesciences said the company's debt has reduced and that rating agency ICRA has upgraded the company's credit rating by 2 notches

    27 Jul 2016, 11.25 am  |  Source: CNBC-TV18

  • Deal with JSW Energy progressing well; more PPAs expected: JSPL

    Deal with JSW Energy progressing well; more PPAs expected: JSPL   

    Specifically talking about Ramchandi coal block, the MD & CEO of Jindal Steel & Power (JSPL), Ravi Uppal said that the coal block was never used by the company. However, the project related to that was cancelled post deallocation ...

    27 Jul 2016, 11.14 am  |  Source: CNBC-TV18

  • China`s Fosun to acquire Gland Pharma for $1.4 bn: Reports

    China's Fosun to acquire Gland Pharma for $1.4 bn: Reports  

    Gland Pharma, a contract manufacturer of injectables, is expected to sign the deal with Fosun in Singapore late Wednesday.

    27 Jul 2016, 10.47 am  |  Source: Moneycontrol.com

  • HGS to expand operations in Mysuru with 300 new jobs

    HGS to expand operations in Mysuru with 300 new jobs  

    "The centre will add 300 new jobs for customer care support by December, 2016... The new recruits will provide voice-based customer care support in Kannada and English languages," HGS said in a statement.

    27 Jul 2016, 9.34 am  |  Source: PTI

  • Tata Steel sales up marginally to 2.15 MT in April-June

    Tata Steel sales up marginally to 2.15 MT in April-June  

    The Mumbai-based firm had clocked sales of 2.14 MT during the same period in 2015-16 fiscal, it said in a regulatory filing.

    27 Jul 2016, 9.32 am  |  Source: PTI

  • Total Environment raises Rs 300 cr from HDFC Capital

    Total Environment raises Rs 300 cr from HDFC Capital  

    "HDFC Capital through it's recently raised off-shore fund has made it's first equity investment of Rs 300 crore, with Total Environment Group," the real estate company said in a statement issued here.

    27 Jul 2016, 9.30 am  |  Source: PTI

  • Lava International to ramp up handset production in India

    Lava International to ramp up handset production in India  

    The company currently has its first assembly unit Noida with a capacity of producing one million units per month.

    27 Jul 2016, 9.30 am  |  Source: PTI

  • Texmaco Rail signs pact with Russian ROSOBORONEXPORT

    Texmaco Rail signs pact with Russian ROSOBORONEXPORT  

    The MoU has been signed for cooperation in carrying out joint projects for modernization of Armoured Vehicles operated by the Indian Army; co-production of BMP-3; research, development and production of futuristic models and spare...

    27 Jul 2016, 9.28 am  |  Source: PTI

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