Royal Orchid Hotels inks marketing tie-up with UK’s Bespoke Hotels

Royal Orchid Hotels said it had tied up with Bespoke Hotels of the UK to market each others’ properties to their customers. Bespoke manages over 200 hots with 9,500 hotel rooms, 8,000 employees and £815 million of assets. “Royal Orchid now has the ability to offer its guests hundreds of hotel options across multiple global […]

Hathway Broadband starts FTTH, data use up 26% in 3 months

Hathway Digital said it has started rolling out fiber-to-the-home services in congested areas, and also reported a strong increase in data use after slashing prices and increase quotas. For the three months ended September, an average consumer on Hathway Broadband increased her consumption to 98 GB per month, or 3.2 GB per day, from 78 […]

Ruchi Soya Industries sold to Devonshire Capital

Ruchi Soya Industries said global private equity player Devonshire Capital will buy 51% of the company and 100% of certain of its ‘branded packaged oils distribution business’. The money will be substantially utilized for payment to all lenders over a period of time, it said. Devonshire will pay Rs 4,000 cr for the branded packaged […]

UFO Moviez, Qube announce merger, ratio 64:36

Two of India’s top satellite-based cinema feed providers, UFO Moviez and Qube Cinema Technologies, have decided to merge to take advantage of higher scale. The merger ratio and valuation will be 63.6% for UFO and 36.4% for Qube Digital. Currently, UFO supplies its movie feeds to around 4,000 screens while Qube provides its feed to […]

Alembic Pharma buys US-based generics manufacturer

Alembic Pharmaceuticals said it bought New Jersey-based generic drug developer Orit Laboratories LLC, which will bring seven approved generics and four applications with it. Orbit has “a team of eight highly experienced scientists,” Alembic said, adding that the firm focuses on developing and filing oral solid and liquid products. “We Welcome Dr. Satish Patel, Founder […]

RCom could sell assets to Reliance Jio, go virtual – Fitch

Reliance Communications could ink more spectrum selling and sharing agreements with Mukesh Ambani-controlled Reliance Jio, Fitch Ratings said, adding that the Anil Ambani company would end up as a mobile virtual operator after its ongoing restructuring. Rcom “plans to monetise spectrum assets in the 800MHz, 900MHz, 1800MHz and 2100MHz bands by sharing and trading with […]

RCom to issue shares to MTS, to pay earn-out fees in case of 4G conversion

Reliance Communications said it the company’s board has approved the issue of fresh shares in the company to the shareholders of Sistema Shyam Teleservices Ltd, which operates the MTS brand of telecom services in India. RCom’s merger with MTS received the government’s approval a few days ago. Since companies in India can get an extension […]

Bharti Airtel Q2 profit margin up, but ARPU falls

Bharti Airtel, India’s largest telecom company by revenue, reported further erosion in its revenue and profit in September quarter compared to the previous June quarter. The company reported revenue of 21,777 cr, down 12.3% compared to a year ago and down 0.8% compared to the previous three months of April to June. Profit before exceptional […]

Tata enters cafe business with first store in Bangalore

Tata Global Beverages, the world’s second largest tea company, said it is evaluating the possibility of entering the cafe business and has launched its first pilot outlet at Indira Nagar in Bangalore. The outlet, called ‘Tata Cha’, will offer a wide variety of teas as well as snacks. “Tata Cha will specialise in serving freshly […]

Dabur Q2 sales down 1.1% on forex, GST; PAT up 1.3%

Dabur India, one of the world’s biggest manufacturers of natural FMCG products, reported a slight revenue decline for the second quarter, but net profit rose marginally. Dabur’s Sept quarter revenue was hit by a steep appreciation in the currencies of several of the countries where the company sells its wares, it said. Adjusted for currency […]

Bharti Infratel to try to buy Vodafone & Idea stake in Indus Towers

Bharti Infratel, the tower arm of Bharti Airtel, said it has decided to explore the possibility of buying out the stakes of Idea Cellular and Vodafone in rival tower company Indus. Bharti and Vodafone currently own about 42% each in Indus, while Idea holds about 11%. As a result, anyone who buys the stakes of […]