Dr Reddy’s sells Jeedimetla API plant to Therapiva

Dr. Reddy’s Laboratories, one of the biggest pharmaceutical companies in India, said it has agreed to sell its API manufacturing unit located in Jeedimetla, Hyderabad, to Therapiva Private Ltd, an emerging generics pharmaceutical company. The company did not reveal the financial details of the deal, but said the transaction is designed as a slump sale … Read moreDr Reddy’s sells Jeedimetla API plant to Therapiva

Xiaomi beats Samsung 4:1 in online sales in India

Online sales of smartphones in India continues to gather pace — expected to rise to 38% of all smartphone sales this quarter — even as Xiaomi is expected to outsell Samsung 4:1 online. In total, 15 mln (1.5 cr) smartphones are likely to be sold through online channels in the festival quarter — a growth … Read moreXiaomi beats Samsung 4:1 in online sales in India

PVR opens Aura multiplex at Park Square Mall in Whitefield

SPI Cinemas, a part of India’s largest multiplex chain PVR, has launched at Park Square Mall in Whitefield in Bengaluru. The four-screen cinema is set on the third and fourth floors and can seat 696 people in total. With the launch, PVR’s network now stands at 715 screens at 154 properties in 60 cities. On … Read morePVR opens Aura multiplex at Park Square Mall in Whitefield

Royal Orchid opens 50-room hotel in Bharatpur, Rajasthan

Royal Orchid hotel chain said it has opened its 49th property near the Bharatpur bird sanctuary in Rajasthan. Regenta Resort has 50 rooms, including Royal Suites, Club Rooms and Family Suites, as well as executive suites. It also comes with an in-house restaurant and two function halls. Bharatpur is a popular winter destination for North … Read moreRoyal Orchid opens 50-room hotel in Bharatpur, Rajasthan

Oil India finds gas in two wells in Assam in Q2

Oil India Limited (OIL) said it found hydrocarbons in two explorator wells in Assam in the July-September quarter. The first one, in Dibrugarh, produced natural gas at the rate of 1.15 lakh cubic meters per day, while the second one, in Tinsukia, produced gas at 1 lakh scmd. These numbers are at the higher end of production … Read moreOil India finds gas in two wells in Assam in Q2

Ciaz 2018 gets 10,000 bookings in first month, says Maruti Suzuki

The 2018 version of Ciaz, the ‘A3’ sedan from Maruti Suzuki, has notched up bookings of over 10,000 in the first month, India’s largest carmaker said. This comes as a relief as the numbers had seen a drastic decline in the run-up to the launch of the new, 2018 model in August. The new variant, … Read moreCiaz 2018 gets 10,000 bookings in first month, says Maruti Suzuki

IndusInd Bank puts two cards on one plastic

IndusInd Bank launched what it called India’s first dual, debit cum credit card. The ‘Duo’ card has two magnetic stripes on either edges and two chips on either ends. The card design uses the anagram technique to enhance and highlight the singularity of the Duo Card. IndusInd Bank, part of the Hinduja Group, is among … Read moreIndusInd Bank puts two cards on one plastic

BHEL wins Rs 2,900 cr order from NTPC

Heavy machinery maker Bharat Heavy Electricals Limited said it won four orders for emission control equipment from power producer NTPC, worth about Rs 2,900 cr, The orders involve the supply and installation of Flue Gas Desulphurization (FGD) systems for control of SOx emissions at NTPC’s producing stations at North Karanpura, Mauda Stage-I, Barh Stage-I and … Read moreBHEL wins Rs 2,900 cr order from NTPC

Maruti Suzuki’s electric vehicles hit Indian roads for testing

Suzuki, the Japan-based parent of India’s largest carmaker Maruti Suzuki, has started real-life testing of electric vehicles in India. The company had, in September, promised to bring 50 units of its electric vehicles to India for conducting tests in real life conditions. “This extensive real-life usage of the vehicles in multiple terrains and climatic conditions … Read moreMaruti Suzuki’s electric vehicles hit Indian roads for testing

NTPC takes Rs 5,000 cr loan from SBI to fund capex

NTPC, India’s biggest power producer, said it has taken a loan of Rs 5,000 cr from the State Bank of India to fund its capital expenditure. The loan is repayable over a period of 12 years. This is one of the first large corporate loans extended by Indian banks after the NPA crisis, in which … Read moreNTPC takes Rs 5,000 cr loan from SBI to fund capex

Volvo Eicher to set up new 40,000 truck plant at Bhopal

Volvo Eicher Commercial Vehicles, which manufactures Eicher branded trucks and buses in India, said it would increase its capacity by 44% by setting up a new, 40,000-trucks-per-year plant in Bhopal in Madhya Pradesh. At present, the joint venture between Eicher Motors and AB Volvo has a capacity of manufacturing 90,000 trucks per year at its … Read moreVolvo Eicher to set up new 40,000 truck plant at Bhopal

Nifty likely to remain below 10,000 as stocks enter long-term correction

The key Nifty 50 stock index in India is likely to breach the 10,000 support mark this week as the Indian stock market enters what many have called its deepest correction since the 2008 financial crisis. The Nifty, which reflects the stock prices of 50 bluechip stocks traded on the National Stock Exchange, had gone … Read moreNifty likely to remain below 10,000 as stocks enter long-term correction

Gravita India partially cancels Rs 300 cr order

India’s largest lead recycler Gravita India said it has been forced partially cancel a Rs 300 cr order received earlier this year due to counterparty problems. The company said it supplied only 3,800 tons out of the contracted Rs 18,000 tons to buyer Kyen Resources Pte. Ltd. Singapore. “The contract entered with them has been terminated due … Read moreGravita India partially cancels Rs 300 cr order

TVS Motor unveils Jupiter Grande at Rs 56,000

TVS Motor Company has introduced yet another version to its successful Jupiter line of scooters. Jupiter Grande, priced at Rs 56,000 ex-showroom in Delhi, has a few functional extras like an LED front-lamp that saves power and fuel, adjustable mono-shock suspension at the back and a new seat. The new model is priced at Rs … Read moreTVS Motor unveils Jupiter Grande at Rs 56,000

Kerala Blasters gets sponsorship from Havells India

Kerala Blasters, one of the prominent teams in Indian Soccer League, has signed up Havells India brand ‘Standard’ as one of its co-sponsors. The financial details of the deal were not disclosed. However, it should come as a positive for the new owners of the team — Nimmagadda Prasad, Chiranjeevi and Allu Arvind, who took over … Read moreKerala Blasters gets sponsorship from Havells India

IDBI Bank board approves LIC deal, ball in shareholders’ court

IDBI Bank said its board of directors has approved the issue of shares to Life Insurance Corporation of India to make the latter the majority shareholder in the bank. The insurer will hold 51% of the total shares of IDBI Bank once the issue is completed, it added. The Bank had around 418 cr shares … Read moreIDBI Bank board approves LIC deal, ball in shareholders’ court

L&T, partners win mega KG basin deepwater project from ONGC

Larsen & Toubro said it, along with its consortium  partners Baker Hughes and McDermott International, has won the contract for constructing one of India’s largest deepwater oil and gas projects. The contract is for construction at ONGC’s KG DWN-98/2 basin that lies close to the KG-D6 block of Reliance Industries. “The integrated subsea package includes … Read moreL&T, partners win mega KG basin deepwater project from ONGC

JSPL Q2 steel sales up 53% on year, 8% QoQ

Jindal Steel and Power Ltd reported a 53% jump in crude steel sales for the September quarter compared to the same quarter last year. It sold 1.27 million tons of crude steel during the quarter, up 7.6% compared to the March quarter, and well clear of the 0.83 million tons recorded in the same quarter … Read moreJSPL Q2 steel sales up 53% on year, 8% QoQ

Tata Communications buys Dutch IoT specialist Teleena

Tata Communications, the wholesale communication arm of the Tata Group, said it has agreed to buy Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE). The company was already the single largest shareholder in Teleena with a 35% stake, following an investment in January 2017, and has extensive dealings with … Read moreTata Communications buys Dutch IoT specialist Teleena

Maruti Suzuki recalls 640 Super Carry vehicles to fix faulty fuel pump

Maruti Suzuki India Limited said it is recalling 640 units of its Super Carry small cargo vehicles manufactured between 20th Jan 2018 till 14th July 2018 to rectify a possible defect in fuel pump assembly. Starting today, owners of the vehicles included in this recall campaign will be contacted by Maruti Suzuki dealers for inspection and … Read moreMaruti Suzuki recalls 640 Super Carry vehicles to fix faulty fuel pump