Bajaj Auto, one of India’s biggest motorcycle makers, could potentially exit KTM, the premium bike brand from Austria. According to a statement by KTM Industries AG, the parent company of KTM, Bajaj is in talks to sell its minority stake in KTM back to the...
Jet Airways says talks still on, SBI says ‘planes must keep flying’
Jet Airways said talks between various stakeholders in the company, including banks and investors like Etihad Airways, are still on, and that it is too early to comment on the likely outcome. Meanwhile, SBI’s chairman said a rescue plan will be ‘out very soon’. He...
SABARIMALA: BJP to field firebrand leader K Surendran from Pathanamthitta
Bharatiya Janata Party (BJP) is likely to field firebrand leader K Surendran, who rose to prominence in the wake of the recent Sabarimala protests, from the crucial Pathanamthitta constituency. Pathanamthitta is one of the two Lok Sabha constituencies where the BJP is projected to be...
Vodafone Idea prices rights issue at Rs 12.50 per share
Vodafone Idea said it has priced its rights issue at Rs 12.50 per share. The offer price of Rs 12.50 per share represents a discount of 31% over the post-issue, weighted average price of Rs 18.09 per share, assuming that the company manages to sell...
No production cuts for now – Bajaj Auto
Amid reports that the two-wheeler industry in India is bracing for production cuts to deal with a dip in demand, Bajaj Auto, one of India’s biggest motorcycle maker, said it is not curtailing production as of now. Bajaj Auto MD Rajiv Bajaj said the company...
Tata Com in IoT tie-up with China Telecom
Tata Communications has tied up with China Telecom to allow the latter to launch IoT services across the world using the Indian provider’s network. Tata Communications, formerly known as VSNL, is one of the world’s largest Tier I network, which has touchpoints with nearly all...
Cox & Kings unit opens its first hotel in Hungary
Cox and Kings said that its hotel subsidiary Meininger Hotels announced the opening of its first hotel in Hungary. The hotel, named Meininger Budapest Great Market Hall, will have 751 beds in 184 rooms spread over 6,600 square metres on seven floors. The new hotel...
Zydus Cadila gets USFDA nod for generic Zovirax ointment for herpes
Pharmaceutical manufacturer Zydus Cadila said that it received final approval from the United States Food and Drug Administration for the sale of a generic version of Valeant’s Zovirax ointment. Acyclovir, belonging to a class of medications called antivirals, is used to treat cold sores or...
Kaveri Seeds sets up Asia’s largest corn cob drying facility in Telangana
Kaveri Seeds, one of India’s largest seed firms, has set up a new corn cob drying facility, touted to be Asia’s largest, at Molangur village in Karimnagar district of Telangana. The new facility has a capacity of 1,456 tonnes per cycle and can process around...
GHCL launches two new brands of bedding products
GHCL, one of India’s leading manufacturers of home textiles launched a traceable Egyptian cotton bedding brand called Nile Harvest. The products will be sold mainly in the US and UK markets. The company has partnered with Tailorlux GmBH of Germany to use its IntegriTex technology...
Xiaomi launches Mi Pay wallet in India with ICICI Bank
India’s largest smartphone maker Xiaomi has launched Mi Pay, its payment service, in India, marking the first time the service has been expanded beyond its home market of China. The company will use the National Payment Corporation of India’s UPI and Bharat Bill payment network...
Thomas Cook reports 20% growth in bookings in the festive season
Travel services company Thomas Cook reported a 20% increase in travel bookings for the festival season. Festivals like Holi and Kumbh Mela have boosted the company’s domestic travel business, with demand up by over 12%, it said. There was a significant rise in the international...
Voltas Beko unveils dozens of new products
Voltas, India’s largest air-conditioner maker launched a new range of adjustable inverter ACs, which it claimed were the first of their kind in the AC industry. The new models come with a wide range of features, including ‘flexible air conditioning’, that allows the user to...
TCS to provide digital services to Seadrill
IT firm Tata Consultancy Services (TCS) on Monday said that it has been selected by offshore drilling company Seadrill to transform its digital infrastructure. According to the new deal, TCS will support Seadrill’s global lT operations on its its mobile offshore drilling rigs as well...
ICICI Lombard, MobiKwik join hands to provide cyber-insurance cover
ICICI Lombard, one of India’s leading private sector general insurance companies, said it has entered into a strategic partnership with one of India’s largest retail payment platform MobiKwik to provide cyber-insurance cover. The newly formed partnership aims to provide the customers protection against unauthorized and...
SMPL Infra receives orders worth Rs 883 crore
Infrastructure firm SMPL Infra Ltd said it received four new orders for water supply and irrigation projects worth Rs 883 crore from Gujarat, Manipur and Punjab. In Gujarat, it received an order worth Rs 723 crore for the implementation of Phase 3 of the Saurashtra-Narmada...
Jet Airways to default on debenture payments, ground 4 more aircraft
Debt-ridden airline operator Jet Airways said it was grounding four more aircraft due to non-payment of lease amounts, and that it will also default on interest payments to its debenture holders due tomorrow. It is estimated a total of 40 plus aircrafts have been grounded...
Solar power sector sees revival in Feb after downturn due to duties
Solar auction activities garnered speed in February after a disappointing performance in January, according to Mercom India, an agency that tracks the solar power sector in India. About 2.7 GW of solar power was auctioned in February, which is 800 MW more than what was...
Glenmark Pharmaceuticals gets USFDA nod for sales of acne gel
Mumbai-based pharmaceutical firm Glenmark Pharmaceuticals said it received final approval from the US Food and Administration (USFDA) for the sale of a generic version of Valeant Bermuda’s acne treatment, BenzaClin. Clindamycin and benzoyl peroxide gel is a combination of clindamycin, an antibiotic and benzoyl peroxide,...
Rahul Bajaj steps down as chairman of Bajaj Holdings and Investment
Veteran industrialist Rahul Bajaj has stepped down as the chairman and non-Executive director of investment firm Bajaj Holdings and Investment, and his cousin Niraj Bajaj has been appointed as the new non-executive chairman with effect from May 18. “Rahul Bajaj, vide his letter dated February...