The Tata Motors said global wholesales for the group for the month of November 2018, including Jaguar Land Rover, fell 7% on year to 104,964. Within this, commercial vehicle numbers fell by 6% and passenger vehicle numbers by 7%. Total CV wholesales, including Tata Daewoo,...
Maruti Suzuki CNG sales on track to jump 54% this year
With rising fuel prices, sales of CNG models are on track to jump 54% this year at India’s biggest car maker, Maruti Suzuki. The company has sold 7.66 lakh units of CNG vehicles in the first eight months of the year, more than the 7.46...
Alembic Pharmaceuticals gets USFDA nod for eye drug
Alembic Pharmaceuticals Ltd today announced that the company has received approval from the US Food & Drug Administration (USFDA) to sell a generic alternative to Novartis Pharmaceuticals’ allergic conjunctivitis treatment Patanol Ophthalmic Solution. This is first ophthalmic dosage form approval for Alembic pharmaceuticals Limited. The...
TABLE – EXIT POLLS FOR MADHYA PRADESH, RAJASTHAN
Madhya Pradesh is heading for a cliffhanger, with a slight edge to the Congress Party, while Rajasthan is all set to get a Congress government, according to various exit polls conducted after state elections that got over today. Please note that the numbers are being...
Jaguar Land Rover November retail sales down 8%
Jaguar Land Rover reported an 8% decline in its November retail sales, reflecting what the premium auto-maker called “continuing challenging market conditions in China”. Sales in China were down 50.7% as “market conditions remain difficult with continuing consumer uncertainty following tariff changes and trade concerns.”...
L&T’s T&D unit wins orders worth Rs 2,547 cr
Larsen & Toubro said its power transmission & distribution business received additional orders of Rs 2,547 crore. The period over which the orders were received were not disclosed, but the company typically updates investors of new orders every few weeks. The orders include both international...
Olympia Group to construct mall at Eveready plot on Tiruvottiyur Road
Eveready Industries, one of India’s largest battery makers, said it has signed an agreement to sell its plot on Tiruvottiyur Road in Chennai to local real estate developer Olympia Group for Rs 100 cr. The agreement, said the battery maker, was executed yesterday with Olympia...
Edelweiss’ NBFC arm to raise up to Rs 1,000 cr via debentures
ECL Finance Ltd, the NBFC arm of Edelweiss Group, said it plans to raise up to Rs 1,000 cr in the form of non-convertible debentures, a form of debt. The non-convertible debentures have a face value of Rs. 1,000 each, and the company could raise...
Modi govt schemes well-regarded in rural areas-Phillip Capital
Broking firm Phillip Capital said it saw “good execution” and “very positive feedback” on central government policies announced by Modi government over the last four years in Madhya Pradesh and Rajasthan, and said a close fight — regardless of the outcome — would not have...
Maruti Suzuki car prices to increase next month
Maruti Suzuki, India’s largest car maker, said it will increase car prices next month due to increased costs. “Over the past year, the cost of company’s vehicles has been impacted adversely due to increase in commodity prices and foreign exchange rates, etc. “Hence, it has...
Alembic gets USFDA approval for generic heart drug
Alembic Pharmaceuticals said it has received approval from the US Food & Drug Administration (USFDA) to sell a generic version of ANI Pharmaceuticals’ hypertension drug Atacand Tablets. Atacand had an estimated market size of US$ 22 million for twelve months ending December 2017 in the US...
Cox & Kings unit to open 442-bed hotel in Reykjavik, Iceland
Cox & Kings said its hotel subsidiary, Meininger, has signed “an agreement for a hotel in Reykjavik”, the capital of Iceland in Europe. The company did not clarify who will own the property, but it is likely that ownership will be with a third party,...
Mahindra acquires Carnation Auto service chain
Mahindra First Choice Services, the servicing arm of Mahindra & Mahindra, said it has agreed to acquire the assets of bankrupt auto-service chain Carnation Auto (India). The company did not disclose the exact number of service centers that will accrue through the deal, but said...
TVS Motor Co posts strong numbers for November, sales up 26%
TVS Motor Co emerged as a strong performer in November, with a 28% jump in domestic two-wheeler sales volumes. This was far higher than the 0.8% jump shown by market leader Hero MotoCorp. TVS’ two-wheeler exports too jumped 24% during the month, taking the overall...
HCL Tech gets strategic partnership deal from Broadcom after CA acquisition
HCL Technologies has been picked as the services partner for Broadcom’s enterprise software products, one of the two primary business units of CA Technologies, a software and solutions company that the chipmaker acquired earlier this year for $19 billion. HCL Tech will also take over some...
Bajaj Auto reports 45% jump in domestic 2-wheeler sales for Nov 2108
Bajaj Auto reported a 45% jump in two-wheeler sales in India in November, while overall sales of two-wheelers and three-wheelers, including exports, were up 25%. India two-wheeler sales jumped to 2.05 lakh in November from 1.42 lakh last year. However, compared to October, sales were...
Hero MotoCorp reports flattish sales for November 2018
Hero MotoCorp reported only a modest increase in November sales, after two months of record-setting performance. Overall two-wheeler sales came in at 6.10 lakhs in November, up from 6.05 lakh in the same month last year. In percentage terms, the increase is less than 1% (0.8%...
Brigade Group announces 412 new flats at Meadows on Kanakapura Road
Brigade Group, one of Bangalore’s top two real estate companies, announced the launch of the last expansion of Brigade Meadows, an integrated township spread over 60 acres of land on Kanakapura Road in India’s IT capital. Brigade Meadows is already home to over 2,000 families,...
RCom to pay off Ericsson, others as SC orders DoT to approve Jio deal
Anil Ambani Group’s Reliance Communications Ltd got a big relief today after the Supreme Court ordered the Department of Telecommunications, Government of India to approve the sale of the company’s spectrum lease to Reliance Jio. “The Spectrum trading transaction will now be completed and RCOM...
Crisil downgrades Vodafone Idea debt due to “pricing pressure”
Ratings agency CRISIL has downgraded certain debt securities of Vodafone Idea Ltd by one notch, quoting conditions in the Indian telecom market. It downgraded Rs 6,000 cr worth of non-convertible debentures issued by Vodafone from AA- to A+. The highest rating in the scheme is...