GTPL expands broadband via LCOs; revenue up 10% in 3 months

GTPL Hathway, the No.2 cable feed provider and No.6 wired internet provider in India, has started providing internet services through local cable TV operators or LCOs outside its home market of Gujarat. The strategy, as well as a spurt in demand for high-speed internet, helped it report a 10% sequential growth in broadband revenue in […]

Streaming revenue push Saregama profits to record levels

Saregama, India’s largest record label and an emerging force in the digital video space, looks all set to breach its pre-COVID revenue and profit numbers in the current financial year due to rising demand for streaming music. The company’s operating revenue had set a record in the year 2018-19 at Rs 544.7 cr, but declined […]

Mobile ad firm Affle gets two more US patents

Affle, which helps companies increase the effectiveness of their digital ads, said it received two more patents from the US, taking its total US patents to six. Patent 11157952 is using blockchain to create and store a list of fraud IPs and publishers to reduce scams in digital advertising. The technology creates an “immutable decentralized […]

Reliance Industries’ purchase of polysilicon maker: A mega step to dominate Indian solar market

Reliance Industries has made a strategic acquisition in the form a Norway-based maker of solar-grade polysilicon at a cost $777 million (Rs 5,880 cr) from its Chinese owner. REC Solar Holdings has three manufacturing facilities – two in Norway for making solar grade polysilicon and one in Singapore making PV cells and modules. The 25-year-old […]

Vakrangee to spin off IT business, listed separately

Vakrangee Ltd said it would spin off its IT services business into a separate, listed entity. The company’s mainstay business of franchising Vakrangee Kendras, as well as its BharatEasy app, will remain with the current listed entity known as Vakrangee Ltd. The company said it was doing so as both businesses have evolved into very […]

Persistent Systems to give ESOPs to 80% of employees

Pune-based Persistent Systems, one of India’s niche software and services companies, said it has decided to overhaul its employee stock options plan to make it “one of the most inclusive” in the global IT services industry. The new plan, it said, will cover around 80% of its global employee base. The company, which focuses on […]

After EU, Lincoln Pharma gets Australian approval for plant

India-based Lincoln Pharmaceuticals Ltd said it is looking forward to entering the Australian market, after Australia’s medicines and medical devices regulator – Therapeutic Goods Administration {TGA) – approved the company’s primary manufacturing plant in Khatraj, Gujarat. The approval, said the medicine manufacturer, has been granted for all three sections, tablets, capsules and creams & ointments. […]

Tata Power, TVS Motor set up EV charging partnership

TVS Motor Company said it has tied up with Tata Power to create a large, dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India. This will be done by setting up an electric vehicle charging infrastructure (EVCI) across India and by deploying solar power technologies at TVS Motor locations. TVS Motor Co said […]

Mahindra adds XUV700 luxury variants, delivery dates in 5 days

Mahindra & Mahindra today announced a new luxury variant for is recently unveiled XUV700 premium SUV diesel. The luxury variant, which will be available with both automatic transmission as well as manual transmission, will come with certain added features. These extra features include a new ‘immersive 3D sound” system by Sony, electrically deployed smart door […]

KPIT Tech to invest in “computer cars”

KPIT Technologies, an outsourced solutions provider primarily targeting automobile producers, said it has decided to boost investments in computer-controlled vehicle technology, given an increased demand from clients for such solutions. Most of the core aspects of vehicles on the road currently are controlled by mechanical methods, such as steering, suspension, braking and so on. However, […]

Reliance Industries forms trading subsidiary in the UAE

Reliance Industries, India’s most valuable company, has established a subsidiary in the United Arab Emirates. The company said it invested $1 mn to float Reliance International Ltd based in Abu Dhabi Global Market, UAE. The company will engage in trading of crude oil, petroleum products, petrochemicals and agricultural commodities, among others, said the Mukesh Ambani-led […]

Tata Motors, M&M report strong CV sales, PV sales fall

Tata Motors and Mahindra & Mahindra, the two primary home-grown auto makers in India, reported continued pick-up in the sales of heavy commercial vehicles, but their passenger vehicle sales showed a declining trend, though not as sharply as in case of market leader Maruti Suzuki. Passenger vehicle sales for M&M fell to 13,134 in September […]

TCS expands deal with Swedish pharma chain Apoteket

Tata Consultancy Services said it has expanded the scope of its existing support agreement with Swedish pharma retailer Apoteket as the latter prepares to diversify into new areas. “Apoteket stores draw 34 million customers annually, making it the leading pharmaceuticals retailer in Sweden. “The brand is looking to strengthen its leadership position in the region […]

Post COVID, Raymond cancels demerger of apparels, to monetize real estate

Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]

Biocon Malaysia insulin aspart plant hit with 6 observations by US FDA

Six months after getting a VAI status from the US Food & Drug Administration for its insulin glargine manufacturing facility in Malaysia, Biocon — India’s largest biopharmaceuticals company — said the US FDA issued six observations after pre-approval inspections at its insulin aspart plant in that country. Insulin glargine is a long-acting insulin-substitute, while insulin […]

Indiabulls Housing repays Rs 7k cr NCDs, readies for paying back USD bonds

Indiabulls Housing Finance, which recently generated over Rs 800 cr from retail investors by the way of non-convertible debentures (a kind of corporate fixed deposit), said it paid back NCDs worth Rs 7,075.84 cr in September. It also said it was on track to pay back dollar bond holders by May. It said the NCDs […]

Yes Bank says Dish TV resorting to ‘dilatory tactics’, seeks EGM

Yes Bank, which holds around 26% of Dish TV India, accused the direct-to-home satellite provider of resorting to what it called dilatory tactics in seeking shareholder approval for its proposal to reorganize the company’s board of directors. As such, said Yes Bank, it was calling for an extraordinary general meeting under the relevant laws of […]