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Budget 2017

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Business News

  • Sun Pharma to sell Ohm Labs site at New Jersey: Sources

    Sun Pharma to sell Ohm Labs site at New Jersey: Sources  

    Sun Pharmaceutical is working on a consolidation plan for its manufacturing units and as part of this plan is looking to sell its Ohm Labs manufacturing site based in New Jersey, reports CNBC-TV18.

    23 Jan 2017, 3.57 pm  |  Source: CNBC-TV18

  • Tata Steel order to help improve margins: North Eastern Carrying

    Tata Steel order to help improve margins: North Eastern Carrying   

    North Eastern Carrying Corporation has bagged a Rs 400-crore order from Tata Steel. In an interview to CNBC-TV18, Utkarsh Jain of North Eastern said the order from Tata Steel will be completed in three-four quarters.

    23 Jan 2017, 3.55 pm  |  Source: CNBC-TV18

  • Okinawa plans to invest $40 mn in 3 years to expand operations

    Okinawa plans to invest $40 mn in 3 years to expand operations  

    The company, which today launched its first electric scooter 'Ridge' priced at Rs 43,702 (ex-showroom Delhi), has already invested around Rs 35 crore to set up operations including a manufacturing facility at Bhiwadi, Rajasthan.

    23 Jan 2017, 3.54 pm  |  Source: PTI

  • Govt initiatives in agri sector aiding sentiment: Shakti Pumps

    Govt initiatives in agri sector aiding sentiment: Shakti Pumps   

    "On the agricultural side, the government is working on agricultural machinery, equipment, irrigation infrastructure or water facilities. So there is a positive sentiment for overall sector", Akhilesh Maru, CFO of Shakti Pumps tol...

    23 Jan 2017, 3.48 pm  |  Source: CNBC-TV18

  • Ola appoints former PepsiCo executive Vishal Kaul as COO

    Ola appoints former PepsiCo executive Vishal Kaul as COO  

    Jivrajka has now been appointed as Founding Partner and will continue to work closely with Bhavish Aggarwal, Ola co-founder and CEO.

    23 Jan 2017, 3.22 pm  |  Source: PTI

  • Coal India supply to power sector drop 3.6% to 288 MT

    Coal India supply to power sector drop 3.6% to 288 MT  

    According to official data, coal dispatches to the power sector in the same period of previous fiscal were 299.1 million tonnes (MT).

    23 Jan 2017, 3.22 pm  |  Source: PTI

  • L`Oreal, Founders Factory to invest in 5 cosmetics start-up cos

    L'Oreal, Founders Factory to invest in 5 cosmetics start-up cos  

    In 2012, L'Oreal set up an internal start-up unit in Silicon Valley and in May last year it invested in Founders Factory, a digital incubator, co-founded by Brent Hoberman, former chief executive and co-founder of lastminute.com.

    23 Jan 2017, 3.19 pm  |  Source: Reuters

  • India Inc not making big investments: Axis Bank CFO

    India Inc not making big investments: Axis Bank CFO  

    In conversation with Malini Bhupta of Moneycontrol, the bank’s Chief Financial Officer, Jairam Sridharan, believes that stressed assets could have peaked in FY17. Edited excerpts:

    23 Jan 2017, 2.53 pm  |  Source: Moneycontrol.com

  • Eyeing sectors with minimal govt intervention: Sanjiv Goenka

    Eyeing sectors with minimal govt intervention: Sanjiv Goenka   

    Speaking to CNBC-TV18, Sanjiv Goenka, Chairman of the RP-Sanjiv Goenka Group, said the group had already invested money in IT and BPOs, and would soon explore FMCG.

    23 Jan 2017, 2.23 pm  |  Source: CNBC-TV18

  • Global cos wary of India due to fraud, security concerns

    Global cos wary of India due to fraud, security concerns  

    Fraud, cyber and security incidents are now the ‘new normal’ for companies across the world, according to executives surveyed for the 2016-17 Kroll Annual Global Fraud and Risk Report.

    23 Jan 2017, 1.54 pm  |  Source: Moneycontrol.com

  • Note ban hit Q3 margins; normalcy has returned:Sumeet Industries

    Note ban hit Q3 margins; normalcy has returned:Sumeet Industries   

    Speaking to CNBC-TV18, Shankar Lal Somani, Chairman of Sumeet Industries, said he expects a profit of Rs 1,250 crore in FY18.

    23 Jan 2017, 1.46 pm  |  Source: Moneycontrol.com

  • Demand for rural home loans to surge in Q4: DHFL

    Demand for rural home loans to surge in Q4: DHFL   

    Demand for home loans in rural India is expected to pick up in Q4, that is the word coming in from Harshil Mehta, CEO, DHFL.

    23 Jan 2017, 1.37 pm  |  Source: CNBC-TV18

  • Cuemath raises $15 million in funding

    Cuemath raises $15 million in funding  

    CapitalG (formerly known as Google Capital), the growth equity investment fund of Alphabet (Google's parent company), led this round of funding, the company said in a release.

    23 Jan 2017, 1.32 pm  |  Source: PTI

  • Why markets want Axis Bank to take a haircut & move on

    Why markets want Axis Bank to take a haircut & move on  

    Concerns of investors have not entirely abated after Axis Bank’s December quarter numbers. The stock has been under pressure since it reported higher-than-expected slippages in the second quarter.

    23 Jan 2017, 1.28 pm  |  Source: Moneycontrol.com

  • Trump intervention in pharma may affect Indian suppliers: PwC

    Trump intervention in pharma may affect Indian suppliers: PwC   

    Speaking to CNBC-TV18, Sujay Shetty, Pharma Head at consultancy giant PwC India, said that the new US regime is likely to take up cudgels on behalf of American drug companies.

    23 Jan 2017, 1.10 pm  |  Source: CNBC-TV18

  • Sugar mills body bats for lower sugar cess

    Sugar mills body bats for lower sugar cess   

    In an interview to CNBC-TV18 Abinash Verma, DG, ISMA said the news is negative for the industry and that ISMA has requested the government to continue with both cess and SDF. He added it has also requested the government to revise...

    23 Jan 2017, 12.56 pm  |  Source: CNBC-TV18

  • Companies raise Rs 29,000 cr via NCDs in FY17 so far

    Companies raise Rs 29,000 cr via NCDs in FY17 so far  

    The funds have been raised for funding expansion plans, retiring debt, supporting working capital requirements and other general corporate purposes.

    23 Jan 2017, 12.50 pm  |  Source: PTI

  • Dell Foundation-backed IEIF`s investments cross Rs 13 crore

    Dell Foundation-backed IEIF's investments cross Rs 13 crore  

    ChipperSage offers English proficiency solutions aimed at transforming English comprehension and communication for school students, while Select Jobs is a placement company that uses its distribution network to provide employment ...

    23 Jan 2017, 12.40 pm  |  Source: PTI

  • Amtek Auto asset sale finds no takers; Brexit, valuations weigh

    Amtek Auto asset sale finds no takers; Brexit, valuations weigh  

    Brexit, steep valuations and an unfavourable sale method adopted by debt-ridden Amtek Auto have become the main reasons behind the company’s unsuccessful bids to sell Tekfor, its German division.

    23 Jan 2017, 12.37 pm  |  Source: Moneycontrol.com

  • Taxmen turn gaze on jewellers in wake of cash ban, launch probes

    Taxmen turn gaze on jewellers in wake of cash ban, launch probes  

    The Income Tax department has commenced largescale search operations at gold and diamond jewellers to check the source of their deposits made post the demonetisation announcement.

    23 Jan 2017, 12.34 pm  |  Source: Moneycontrol.com

  • Lupin gets USFDA nod for generic anti-depressant tablets

    Lupin gets USFDA nod for generic anti-depressant tablets  

    In a BSE filing, Lupin said "it has received final approval for its Paroxetin Extended Release Tablets USP, 12.5 mg, 25 mg and 37.5 mg from the United States Food and Drug Administration (USFDA)." The company said it will commence...

    23 Jan 2017, 12.18 pm  |  Source: PTI

  • See 15-20% growth in plastic biz; Q4 to be better: Sintex

    See 15-20% growth in plastic biz; Q4 to be better: Sintex   

    Samir Joshipura, Group CEO, Sintex is very optimistic of the plastic business growing at 15-20 percent post the demerger.

    23 Jan 2017, 12.00 pm  |  Source: CNBC-TV18

  • YourNest invests in defence IoT startup CRON Systems

    YourNest invests in defence IoT startup CRON Systems  

    The pre-series A investment will help the city-based CRON Systems strengthen R&D activity, hire talent and explore new markets across Middle East, Africa and Europe, YourNest said in a statement.

    23 Jan 2017, 11.56 am  |  Source: PTI

  • Suzlon bags 50.40 MW order from a power utility in Gujarat

    Suzlon bags 50.40 MW order from a power utility in Gujarat  

    "The project consists of 24 units of S97 120 metre hybrid tower with rated a capacity of 2.1 MW. Located at Kutch in Gujarat, the project will be completed by March 2017," the company said in a BSE filing.

    23 Jan 2017, 11.48 am  |  Source: PTI

  • See significant growth in digital next quarter: Persistent

    See significant growth in digital next quarter: Persistent   

    Persistent Systems came out with Q3FY17 results which met street expectations. In an interview to CNBC-TV18 Anand Deshpande, Founder, MD & CEO of the company said margins grew better than topline for the quarter ended December.

    23 Jan 2017, 11.39 am  |  Source: CNBC-TV18

  • JSW Steel says evaluating opportunities amid buyout reports

    JSW Steel says evaluating opportunities amid buyout reports  

    "JSW Steel has a vision to be a 40 million tonne steel company in line with the estimated increase in installed capacity in India to 300 million tonnes in the next decade.

    23 Jan 2017, 11.34 am  |  Source: PTI

  • RBL Bank on track to meet to 35% loan growth guidance: CEO

    RBL Bank on track to meet to 35% loan growth guidance: CEO   

    Speaking to CNBC-TV18, Vishwavir Ahuja, RBL Bank’s Managing Director and Chief Executive Officer, said unexpectedly high loan growth in the third quarter had put it on track to meet its annual guidance of 30-35 percent.

    23 Jan 2017, 11.20 am  |  Source: CNBC-TV18

  • Indiabulls cuts interest rates for existing customers by 15 bps

    Indiabulls cuts interest rates for existing customers by 15 bps  

    "The new rates will vary according to a customer's existing rate and the contract date and will effectively be in the range of 8.90 percent on the lowest side and to 10.50 percent on the higher side. Still most customers will get ...

    23 Jan 2017, 9.36 am  |  Source: PTI

  • GSPC looks at financial restructuring post ONGC deal

    GSPC looks at financial restructuring post ONGC deal  

    The Gujarat government firm, which is saddled with nearly Rs 20,000 crore of debt, has a large gas trading business, gas transmission pipelines and city gas business.

    23 Jan 2017, 9.34 am  |  Source: PTI

  • Roca eyes doubling global sales to Rs 2,000 cr in 4 years

    Roca eyes doubling global sales to Rs 2,000 cr in 4 years  

    Besides, the company, which acquired Indian brand Parryware in 2006, expects that exports from Indian unit would grow to new territories such as Australia, Europe and contribute up to 13 percent of its global sales.

    23 Jan 2017, 9.34 am  |  Source: PTI

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