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Business News

  • 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

  • Foxconn considering reviving Chennai units: TN Govt

    Foxconn considering reviving Chennai units: TN Govt  

    A team of state industries department officials recently visited the headquarters of Foxconn in Taiwan and made a request to the management to revive its Chennai plant, saying government would extend support for it, the minister i...

    27 Jul 2016, 8.58 am  |  Source: PTI

  • Fintech space saw $617mn worth deals in 2015

    Fintech space saw $617mn worth deals in 2015  

    Fintech deal volumes too surged 82 percent to 69 from 38 in 2015, signalling a rich investor interest for companies with unique business models according to a report titled News Corp VCCEdge India FinServ Insights.

    27 Jul 2016, 8.13 am  |  Source: Moneycontrol.com

  • Rhiti Sports, Dhoni announce global partnership with Spartan

    Rhiti Sports, Dhoni announce global partnership with Spartan  

    The announcement was made by Rhiti Sports Chairman and MD Arun Pandey through a media release.

    27 Jul 2016, 7.52 am  |  Source: PTI

  • Indian assets doing well; hopeful of few launches in US: DRL

    Indian assets doing well; hopeful of few launches in US: DRL   

    For the first quarter ended June, Dr Reddy’s Laboratories missed estimates on all counts. Revenue declined 14 percent to Rs 3,222.5 crore in the quarter ended June 2016 from Rs 3,752.2 crore in same period last year.

    26 Jul 2016, 9.37 pm  |  Source: CNBC-TV18

  • Mahindra CIE Automotive appoints Ander Arenaza Alvarez as CEO

    Mahindra CIE Automotive appoints Ander Arenaza Alvarez as CEO  

    Mahindra groups auto component arm Mahindra CIE Automotive has appointed Ander Arenaza Alvarez as the Chief Executive Officer of the company with immediate effect.

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • Lenders recommend SDR for Jaiprakash Power Ventures

    Lenders recommend SDR for Jaiprakash Power Ventures  

    Lenders to Jaiprakash Power Ventures Ltd have recommended invocation of Strategic Debt Restructuring (SDR) which will allow them to convert part of their debt into equity.

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • Shriram City Union Finance raises Rs 175 crore via debentures

    Shriram City Union Finance raises Rs 175 crore via debentures  

    Shriram City Union Finance has raised Rs 175 crore by issuing non-convertible debentures.

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • Maha to seek CAG audit of Tata Power, Reliance Infra

    Maha to seek CAG audit of Tata Power, Reliance Infra  

    Maharashtra government will seek the CAG audit of Tata Power and Reliance Infrastructure power companies supplying electricity to Mumbai, State Power Minister Chandrashekhar Bawankule informed the State Assembly here today.

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • ICICI Bank to discontinue some service pacts with 3i Infotech

    ICICI Bank to discontinue some service pacts with 3i Infotech  

    "...the Company has received letter dated July 26, 2016 from ICICI Bank Limited informing the company that ICICI Bank would like to discontinue some of the service contracts with the company and its group companies effective July ...

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • Lack of financial power hampering airlines from going global

    Lack of financial power hampering airlines from going global  

    Lack of adequate resources and financial strength is the primary reason for the Indian airlines for not having large scale international operations, government said today.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • Advanta to exit BSE indices from Aug 1 post UPL merger

    Advanta to exit BSE indices from Aug 1 post UPL merger  

    Seed firm Advanta will be dropped from S&P BSE indices from Monday on account of its merger with group firm UPL Ltd.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • EESL to replace street lights with LEDs in 4 states

    EESL to replace street lights with LEDs in 4 states  

    State-run EESL will soon start replacing conventional street lights with energy efficient LEDs in four more states.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • Reliance Cap Trustee raises stake in Max India to 7.4%

    Reliance Cap Trustee raises stake in Max India to 7.4%  

    Reliance Capital Trustee Co has raised its stake in Max India Ltd by over 2.88 per cent to 7.38 per cent through open market transactions.

    26 Jul 2016, 8.16 pm  |  Source: PTI

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