HPCL appoints bankers for Rs 6,000 cr FCCB issue

Hindustan Petroleum Corp Ltd said it had appointed banking intermediaries for organizing investor meetings in the run up to raising Rs 6,000 cr ($930 mln) by selling foreign-currency denominated bonds. The bonds will be non-convertible, and will be issued if the meetings discover favorable market conditions and demand, the state-owned oil marketing company said. Shareholders […]

BHEL wins 15 MW solar project, total reaches 180 MW

Bharat Heavy Electricals Limited said it got an order from Gujarat Alkalies and Chemical Limited for setting up a 15 MW Solar Photovoltaic power plant in Gujarat on Engineering, Procurement and Construction (EPC) basis. This takes the total solar power generation capacity being constructed by the company to 180 MW, including ground-based and rooftop-based. The […]

Larsen & Toubro wins Aurangabad, MMRDA orders worth Rs 2,552 cr

Construction major Larsen & Toubro said its transportation infrastructure and water effluent treatment businesses have jointly bagged an engineering, procurement and construction order worth Rs 1,223 cr from Aurangabad Industrial Township Limited (ATL). The scope of work includes the construction of roads, drains, bridges, potable water network, sewage and common effluent treatment plants, sewerage and […]

IT woes to bring down real estate rentals in Bangalore, IT hubs

With IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the country’s software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon in NCR are expected to see 10-20 per cent reduction in the housing rents over the next three quarters, according to an ASSOCHAM paper. “IT […]

After Amazon, ALTBalaji signs up on Opera TV

Content app ALTBalaji said it has signed on with Opera TV, a platform that powers smart TVs, DVD players and other instruments. “All Smart TVs, Blu-ray disc players and Set-top boxes powered by Opera TV will provide instant access to over 250 hours of original content from ALTBalaji. Simultaneously, ALTBalaji Subscribers will now be able […]

SpiceJet adds new flights from Surat to Mumbai, Hyderabad

SpiceJet announced the launch of four new daily non-stop flights connecting Surat to Mumbai and Hyderabad. From July 10, there will be a new daily direct flight for the Mumbai-Surat-Mumbai sector. It will also start operating its second daily direct flight on the sector in the Hyderabad-Surat-Hyderabad sector. “SpiceJet is the only airline to operate […]

Reliance Infra defence unit inks one more deal to help with Rafale work

Reliance Defence, the defence-focused subsidiary of Reliance Infrastructure, said it entered into yet another agreement with an overseas company. This time, the company said it tied up with Daher Aerospace, France, a supplier of integrated systems for aeroplanes. “Daher Aerospace is tier one manufacturer in Aerostructures segment comprising Fuselage Sections and Fairings made of composites […]

Anil Ambani Group ties up with Thales for Rafale contracts

Reliance Defence, the defence manufacturing arm of the Anil Ambani group, said it will form a joint venture in India with global defence manufacturer Thales to carry out some contracts related to the Rafale jet deal. The Indian company will hold 51% of the equity while the foreign entity will hold the remaining. Reliance Defence […]

Axis Bank confirms exiting POS maker Mswipe

Axis Bank confirmed it had sold its 8% share in new-generation card-swiping-machine company Mswipe Technologies. In a regulatory filing, the private sector bank said it sold its 8% stake for Rs 80.94 cr, or Rs 4,249 per share. Mswipe is one of the new generation, low-cost swipe-machine companies, and offers cheaper rates to merchants. Instead […]

Alembic Pharma to launch generic version of AstraZeneca heart drug in USA

Alembic Pharmaceuticals said it received approval from the US Food & Drug Administration for selling a generic equivalent of AstraZeneca’s heart drug Atacand. Approval was granted for the sale of candesantan cilexetil in the dosage of 32 mg. Candesartan cilexetil is used for treatment of hypertension in adults and children and treatment of heart failure. […]

Glenmark Pharma buy rights to cancer drug from US firm

Glenmark Pharmaceuticals said it entered into a licensing agreement with Boston-based biopharmaceutical company APC Therapeutics Inc for exclusive rights for a cancer drug. The agreement covers a small molecule based on Antigen Presenting Cell (APC) biology, the Indian company said. “The compound has the potential to be used as a monotherapy or in combination with […]

Are ‘truly free’ demat and trading accounts here in India with Finvasia?

Finvasia, a technology-driven online broking start-up, announced that it has rolled out what it claimed was India’s first ‘truly’ free online demat account for investing in stocks and derivatives, including futures. There have been many ‘free demat account’ providers in the past too, but such operators usually find some way or the other charge their […]

Raymond opens Ethiopia factory to cut costs, easy access to US, EU

Textiles and garments brand Raymond inaugurated a garment manufacturing plant in Ethiopia to gain duty-free access to the US and European markets. The plant was set up at a cost of Rs 100 cr and will employ over 2500 people in the first phase. More people will join later, the company said. Ethiopia also gives […]

Reliance Jio tops in user satisfaction, but call drop concerns remain

Reliance Jio users are a happier lot than customers of other services, but call drops and network availability remain key concerns, according to a survey conducted by a market research firm Velocity MR. The firm conducted a study among more than 2000 smartphone users across the cities of Delhi, Mumbai, Bangalore, Kolkata, Hyderabad, Pune, Ahmedabad […]

Pakistan Army shares video of Kashmiris celebrating cricket victory

Major General Asif Ghafoor, the official spokesperson of Pakistan’s armed forces, shared a video of some people in Kashmir celebrating the victory of his country’s cricket team in the final of ICC Champions Trophy. “And this is… Srinagar,” Ghafoor said. His tweet came shortly after another that he said showed some people in Baluchistan celebrating […]

JSPL wins 0.5 mtpa coal linkage for captive power plants

Jindal Steel and Power said it secured coal linkages of 511,000 tonnes per year in a recently concluded auction for the use of its captive power plants. “The coal linkages, secured for a 5-year duration, will provide steady supply of fuel to captive power plants run by the company for its steel-making operations,” JSPL said. […]