TV18 Broadcast profit up 84% on lower costs, recovery

TV18 Broadcast, one of India’s top TV broadcasting companies, reported a whopping 84% jump in its net profit for the December quarter. The numbers were boosted by a sharp fall in operating and tax expenses, as well as by a steady recovery in revenue aided by festival spending. The company’s consolidated net profit for the […]

Hindustan Media Ventures posts first profit growth after COVID-19

Hindustan Media Ventures Ltd, the publisher of popular Hindi newspaper Hindustan, revealed a financial performance that suggest that the company is bouncing back faster than expectations. In what could come as a surprise to many analysts, the company’s net profit for the Oct-Dec 2020 period was in fact higher than its net profit for the […]

PVR Q3: Revenue starts inching up, rental waiver sought

PVR, the country’s biggest chain of multiplex cinemas by far, indicated that the worst was behind for the company, as customers started trickling back into theaters in November and December. Nevertheless, the pace of recovery continues to be very gradual. For the three months ended December, PVR’s operations generated revenue of Rs 45.40 cr. This […]

Hero MotoCorp reshuffles distribution in Nicaragua, Honduras

Hero MotoCorp, the world’s largest two-wheeler manufacturer, announced new expansion plans for the Central American markets of Nicaragua and Honduras after appointing new distributors there. It said it has ‘aggressive expansion plans’ for the two countries, and plans to launch its range of premium motorcycles in both countries and expand its network in these markets. […]

BEML gets mega truck order from MoD

BEML Ltd, formerly Bharat Earth Movers, said it received an order worth Rs 758 cr to supply ‘high mobility’ vehicles to the ministry of defence, Government of India. The vehicles would take the shape of armoured fighting vehicles, and trucks for moving troops, ammunition and stores to far-flung, difficult terrains in operational areas, the equipment […]

Reliance Industries says no plans to enter ‘contract farming’

Reliance Industries, India’s largest private company, today rebutted rumors that the company has purchased agricultural lands on a large scale and that it plans to carry out contract farming to take advantage of the new farming laws. The clarification comes in the wake of a online campaign targeting the company, as well as rival Adani […]

NPCIL orders BHEL equipment for local-tech nuclear plants

As part of a plan to double India’s nuclear power capacity by setting up 10 nuclear plants using indigenous technology, a government agency has put in purchase orders for more ‘reactor header assemblies’. The order for the ten reactor header assemblies has been won by public sector unit Bharat Heavy Electricals Ltd. Reactor header assembly […]

Biocon, Lupin launch new drugs in USA

Bicon Ltd and Lupin Ltd, two India-based pharmaceutical manufacturers, launched two drugs in the US, separately. Bangalore-based Biocon launched an immunosuppressant, while Lupin launched a pain relief drug. Biocon’s drug is called Tacrolimus, and it is a calcineurin inhibitor. The company said the drug is used in organ transplant patients to reduce the body’s ability […]

TataCom buys France-based eSIM maker

Enterprise connectivity provider Tata Communications has acquired a 58.1% stake in France-based embedded SIM technology company for an undisclosed amount in an attempt to boost its portfolio of IoT offerings. Embedded SIMs are used in devices that don’t have enough space for housing a physical SIM, such as smart watches and small, medical devices. Besides […]

Wipro in billion-dollar deal with Germany’s Metro AG

IT and outsourcing major Wipro said it will take over the IT division of Germany-based wholesaler Metro AG in a deal that is expected to generate revenue of over Rs 1,000 cr per year for the Indian company. A total of more than 1,300 IT staff from Germany, Romania and India belonging to the wholesaler […]

Tata Motors to increase CV prices from January

Following automakers like Honda, Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki, Kia Motors, MG Motor and Renaut, Tata Motors too has announced a decision to increase vehicle prices from next month. However, unlike most others, Tata Motors will increase prices for commercial vehicles only, while leaving passenger vehicles alone for now. Around half of the […]

HFCL starts making FTTH cable at Hyderabad plant

Thanks to the rapid roll-out of fiber broadband services by partner Reliance Jio, telecom player HFCL Ltd has started producing residential broadband-oriented fiber cables at a new facility in Hyderabad. HFCL’s new optical fiber plant in Hyderabad came online in January this year, and on Wednesday, the plant started making smaller size optical cable that […]

ICRA says TV broadcasters improving faster than expected

Credit rating agency ICRA has revised its revenue target for the TV broadcasting sector in India due to a faster than expected bounce-back in advertisement revenue and strong growth in subscription incomes. The ratings company, however, kept its forecast for the print industry unchanged, predicting a decline of 30% for the ongoing financial year. BROADCAST […]

L&T Tech wins Rs 750 cr order from US oil & gas giant

L&T Technology Services, a provider of consulting and outsourced services in the engineering field, said it won a $100 million (Rs 750 cr) contract from a major US oil and gas company. L&T Tech will be the US company’s primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in USA, […]

Indoco Remedies wins big order from Germany for uric acid tablets

Pharmaceuticals manufacturer Indoco Remedies has won a major contract to supply Allopurinol, used to bring down uric acid in the blood, from Germany. The two-year contract will generate around Rs 70 cr per year for the company. “This is Indoco’s first own label product in Europe,” said Managing Director Aditi Kare Panandikar. “Germany is totally […]

Hindalco to build 3rd aluminium extrusions plant at Silvassa

Hindalco Industries Limited, the Aditya Birla Group metals flagship, said it intends to set up a 34,000-tonne aluminium extrusion plant at Silvassa, the capital of Dadra & Nagar Haveli, at a cost of Rs 730 cr. The new plant will service the fast-growing market for extruded aluminium products in the western and southern regions, particularly […]