Tata Motors reported yet another month of outstanding sales figures in the form of November 2021, but the pace of growth declined marginally in a month that saw most others report steep declines in sales. The company’s total vehicle sales rose to 62,192 units from 49,650 units a year ago, but was lower than the […]
Life Insurance Corporation of India, a government-controlled insurance company that has the highest share of the market in India, can continue to increase its stake in private lender Kotak Mahindra Bank, having got the nod from Reserve Bank of India to increase its stake to 9.99%. LIC has been increasing its stake in Kotak Mahindra […]
Royal Enfield, India’s largest retro, semi-premium motorcycle brand, said its third assembly plant outside India started operations in Thialand. The plant, which will assemble the parts manufactured at the main plants in Chennai in India, will cater to markets such as Indonesia and Vietnam, besides the Thai market. Due to ASEAN trade pacts, it is […]
RattanIndia Enterprises, led by IndiaBulls founder Rajiv Rattan, has announced plans to open Revolt electric bike showrooms in 60 new cities by early next year, which will take the total number of showrooms to 75. These new cities include Kolkata, Chandigarh, Lucknow and the national capital. The current crop of showrooms are located in Bangalore, […]
Indian Railways has decided to resume live catering services in all long-distance trains, given the restoration of normal train services a week ago, and asked IRCTC to restore live catering services as before. Live catering services, involving the cooking and delivery of food in specially designed kitchen cars on trains, were stopped in February last […]
Hospital group Max India said it has sold 200 out of the 340 apartments coming up at Noida Sector 150 dedicated to seniors. The Antara Noida project, which was launched last year, will be ready for possession in 2024. This is the second such dedicated living quarters designed for elders created by the company, with […]
Parag Milk Foods Ltd, India’s largest dairy-focused consumer goods brand, said sales of some of its key products has reached pre-pandemic levels, but sales of liquid milk are half their regular volume. The company, which was hit by the COVID-19 pandemic both because of logistical disruptions as well as a dip in consumer demand, reported […]
Exide Industries, one of India’s oldest automotive battery companies, reported a strong increase in revenue for the September quarter, but an equally significant jump in the cost of key raw materials prevented any benefit of the higher sales from flowing to the company’s bottom line. The company’s operating revenue jumped Rs 4,758 cr from Rs […]
Larsen & Toubro, India’s largest construction company, said it won a contract from the union government to build three 10-storeyed buildings that form part of the new central secretariat. The union government is current redeveloping the central vista — the hub of administration in India that houses most of the major ministries and departments of […]
Havells India, one of the country’s largest electrical equipment makers, said it expects organized players such as itself to benefit as raw material price increases put pressure on unorganized players. The company, a prominent player in the switchgear, wire and lighting segments in India, also said that demand for electrical goods in India is on […]
Mahindra & Mahindra manufactured 1,535 units and sold 1,370 units of its latest and most high-profile passenger vehicle, XUV700, in the first month of sales – September 2021. This is only 2% of the total outstanding booking for the vehicle. Its predecessor, XUV500, had sold 1,213 units in its first month of sales, in October […]
Vakrangee Ltd, India’s largest operator of IT-enabled kiosks and service centers, reported a strong increase in its operating financials for the September quarter as its performance clearly overshot pre-COVID levels. The company’s total revenue jumped to Rs 207.2 cr for the three months ended September this year, up from just Rs 70.2 cr in the […]
HDFC, one of India’s oldest housing finance companies, said it has slashed the interest rate on its home loans to 6.7% for those with qualifying credit scores. The rate of 6.7% is one of the lowest interest rates charged by any bank or housing finance companies in India at present. The closest competition is with […]
Sri Sathya Sai Sanjeevani Hospital, located at Kharghar, Navi Mumbai, is set to offer launch yet another philanthropic program in cooperation with IndusInd Bank under which it will provide an extra 40 free heart surgeries to children every year. The surgeries are being provided free of cost due to the savings of around Rs 60 […]
Mahindra & Mahindra’s efforts to spruce up its utility vehicle range and stick ‘closer to its DNA’ seems to be paying off, with the new Bolero Neo notching up a robust booking over 5,000 units within the first three weeks of its launch. The first model to be based on the new back-to-the-basics philosophy was […]
The Indian unit of French pharmaceuticals maker Sanofi said it decided to sell its nutraceuticals business Universal Nutriscience Private Ltd for Rs 587.0 cr ($80 mln) plus debt-like obligations such as retirals and provisions for sales returns. Universal Nutriscience is a joint venture between Kedaara Capital Fund II LLP and Universal Medicare Private Limited. The […]
Sun Pharma, one of India’s largest pharmaceuticals manufacturers, said it has acquired the exclusive license to sell an acne cream in the US and Canada for an upfront payment of $45 million and potential milestone payments of up to $190 mln. The rights to sell Winlevi branded clascoterone cream were acquired from Italy-based Cassiopea SpA. […]
The union government of India has formed an expert committee to make suggestions for creating a law permitting the death of persons under special circumstances on compassionate grounds. The practice, called euthanasia or mercy killing, is illegal in most countries. The Law Commission of India had, in 2006, drawn up a law that would have […]
Bharat Dynamics Ltd, the prime production agency under India’s Integrated Guided Missile Development Programme (IGMDP), said it received top-up orders worth Rs 499 cr for the supply of Akash missiles to the Indian Army. Bharat Dynamics Ltd had got a mega contract worth for Rs 14,000 cr for Aakash missiles in March 2018. In September […]
Matrimony.com, one of India’s top matchmaking service providers, has agreed to buy ShaadiSaga.com, a Delhi-based online wedding services marketplace, for Rs 11 cr in cash. Shaadisaga.com had revenue of Rs 2.11 cr for the year-ended March, down by about 45% from the previous year due to COVID-19. Shaadisaga.com works by helping couples getting married to […]
