Maruti Suzuki denies demand problems, says rural demand intact

India’s largest car maker Maruti Suzuki today denied that it was facing problems with demand, and said the recent slowdown in sales is because of availability of semiconductor chips. Shashank Srivastava, executive director in charge of sales and marketing, denied that the company was facing any issues liquidating its inventory, and said stocks were well […]

NDTV rejigs Taboola deal, to get up to $100 mn over 10 years

NDTV, India’s oldest English-language broadcaster still in existence, said it signed a deal with content promoter Taboola that can generate as much as Rs 750 cr or $100 mn for the company over the next ten years, provided NDTV is able to maintain its traffic growth. Taboola is famous for its paid recommendation engine that […]

Navneet Education invests Rs 75 cr in sports management co

Navneet Education Ltd said it has agreed to invest Rs 75 cr in a sports management and services company known as SFA Sporting Services Pvt Ltd to pick up a 14.3% stake. Navneet Education is a developer and supplier of educational books and materials, and said the acquisition would help it offer “sports management” services […]

Bleak November auto sales: Bajaj Auto, Escorts report declines

With the pent-up demand getting exhausted and the overall economy reeling under the impact of rising inflation and the after-effects of two waves of COVID-19, auto sales seem to be coming under pressure post the festival period. Two of the earliest companies to report their November numbers, Bajaj Auto and tractor maker Escorts, have both […]

Reliance Industries ‘categorically denies’ any interest in BT

Reliance Industries said it wants to ‘categorically deny’ any plans to bid for British wired services operator BT. “We categorically deny any intent to bid for the UK telecoms group, BT, formerly British Telecom, as reported in the article titled “Reliance Mulling Bid for UK’s Telco BT Group” published in The Economic Times dated November […]

LIC gets RBI nod to continue buying Kotak Mahindra Bank shares

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 […]

Fearing crime, Police crack down on football in Kerala

An order by the district police chief of Wayanad, a hill district of Kerala known for its sports enthusiasts and academies, has riled sports lovers across the state. The order issued by District Police Chief Aravind Sukumar two days ago has made it illegal to operate flood-lit football turfs — scores of which have sprung […]

Royal Enfield starts assembling unit in Thailand, targets SE Asia

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 […]

HCL Tech inaugurates swanky new office in Colombo with 10 floors, 4k seats

HCL Tech, one of the top five IT services providers based out of India, announced the opening of its largest delivery center in Sri Lanka. Located in a newly built complex known as Cinnamon Life in Colombo, the 10-storey center will accommodate 4,000 workers — four times the number of Sri Lankans employed by the […]

Maruti Suzuki, Toyota’s scrapping factory starts operations

Maruti Suzuki and Toyota Group’s have created the first major, scientific auto-scrapping unit in India at NOIDA near Delhi. The factory can disassemble and recycle 24,000 vehicles per year, and has been constructed at a cost Rs 44 cr. ““Till now there was no scientific, clean and healthy way to dispose a car at its […]

BEL gets biggest ever export order as part of IAF’s Airbus C-295 order

Government of India-controlled Bharat Electronics Ltd, a manufacturer of defence electronics, said it received its largest ever export order in the form of a Make in India offset-contract from European aircraft manufacturer Airbus Defence & Space. In September this year, Indian Air Force had signed a Rs 20,000 cr contract with Airbus Defence and Space […]

Revolt bike network to expand to 75 cities by early 2022

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, […]

Sabu Jacob’s Kitex Garments starts Telangana unit

Kitex Garments has incorporated a new company in Telangana, Andhra Pradesh, with an initial capital of Rs 100 cr, in keeping with the company’s earlier announcement of shifting some of its expansion to the new South Indian state. The Kerala-based company had created controversy in its home state several months ago due to political statements […]