The Direct to Home (DTH) satellite broadcasting service has emerged as perhaps the only segment that has seen a clear benefit from the COVID-19 lock-down, with all three listed players seeing an increase in their customer revenue during the lock-down. The biggest jump in revenue was reported by Airtel Digital, which saw its revenue jump […]
Arvind Ltd, one of India’s biggest textile and garment manufactures, said its business revenue was down about 37% in August compared to the previous year due to the impact of the Coronavirus lockdown and it expects domestic market to remain subdued till early 2021. Revenue in August was at Rs 414 cr in August, compared […]
Department store chain Shoppers Stop, the pioneer of organized retail in India and one of the country’s largest retailers of fashion and beauty products, will connect its individual stores to its Amazon shopfront by next month as part of its omni-channel strategy. It also said it would focus on Tier 2 and Tier 3 towns […]
Reliance Jio, which started wired broadband operations in September last year, has started speeding up the roll-out of its Jio Fiber service after an initial slow-down. The company started the service with around 8 lakh connections as of October end, most of which were converts from its trial service. Over the next two months, it […]
One of the remarkable aspects of post-lockdown two-wheeler sales in India has been the surge seen in the numbers of Hero MotoCorp, India’s largest motorcycle maker. While sales trends were largely depressed for rivals Honda (down 37% in July), Bajaj Auto (down 23%), TVS (-16%) and Royal Enfield (-23%), Hero — despite its massive market […]
Sun TV Network, one of India’s largest home-grown broadcasting companies, said it will redraw at its investment plans for SUN NXT over the next three months in light of the app’s performance and the company’s cash flow. The company had, a year ago, announced that it will invest Rs 150 cr over 18 months to […]
Prestige Estates Projects Ltd, which operates nine malls including The Forum Mall in Bangalore, said footfalls are down 75%-80% at malls due to the COVID-19 pandemic. Speaking to investors after detailing the company’s June quarter results last week, company officials also said they were seeing signs of stress among customers of residential properties, even though […]
D-Mart, India’s most famous deep discount retail chain, said it is working on expanding its footprint beyond its current footprint of 214 locations, but the ongoing COVID-19 will impact the number of new stores that will be opened this year. The company, which started with just two stores in Mumbai in 2002-03, expanded to 214 […]
Godrej Properties, the fastest growing of India’s real estate majors, saw a surge of NRI (non-resident Indian) customers as well as a huge pick-up online sales during the COVID-19 lock-down. Despite a harsh lock-down in place in India during most of the Apr-Jun quarter, the company managed to sell a whopping 2,130 homes during the […]
D-Mart, arguably India’s most successful low-cost retailer, may be looking at a multi-city e-commerce launch in coming days, after years of avoiding the sector citing the gruesome economics of online retail in India. Avenue Supermarkets, or D-Mart as most people would know it, is known for its fanatic focus on keeping costs down and its […]
Matrimony.com, one of the largest matchmaking companies in the world, said it continue to offer discounts and special pricing to attract new internet users who are coming online via the 4G wireless data revolution. The company, which operates the Bharat Matrimony website and others, has typically charged several thousand rupees for its paid membership. Only […]
Bharti Airtel, one of India’s top three telecom operators, said it sees no use case for 5G in India right now, given the state of the industry and prevailing spectrum prices, and added that 5G was at least two years away in India. CEO Gopal Vittal’s comment comes less than a month after competitor Reliance […]
Punit Goenka, the MD and CEO of content maker Zee Entertainment Enterprises, expressed reservations about the possibility of implementing TRAI’s revised tariff order in the current financial year. Responding to an investor query on what impact he saw the implementation of the January 1 tariff order would have on his company’s subscription incomes this year, […]
The Indian Railway Catering and Tourism Corporation, which sells about 73% of India’s reserved railway tickets, said ticket sales continue to be down by about 77%-78%; almost a month-and-a-half after long-distance trains were restarted. “Pre-COVID, we were doing 60 cr rupees worth of tickets a day,” said IRCTC CMD MP Mall. “Now, it’s 13-14 cr.” […]
Even as opposition Congress Party alleges a ‘ventilator scam’ by the Modi government, information provided the Ministry of Health and Family Welfare (MoHFW) reveal that the first batch of 30,000 ventilators are being procured at Rs 5.05 lakh each, and suggests that more allocations may need to be made towards the purchase of ventilators. According […]
Bharti Airtel has become the first major DTH or cable company to free up its content app, Airtel XStream, from its hardware. All other major cable and DTH companies in India offer their app only on their own device — typically a stick or a set-top-box — and do not allow the software to be […]
Dixon Technologies, the NOIDA-based contract manufacturer of electronics, said it has entered into a contract with Bangalore-based Molbio Diagnostics to manufacture a disruptive RT-PCR COVID-19 test that can give a major boost to India’s Coronavirus containment efforts. It has entered into a Rs 30 cr deal to manufacture 1,000 Qattros, a viral testing machine that […]
India’s Coronavirus lockdown seems to have led to a sharp increase in demand for televisions sold via online retailers, according to inputs from Dixon Technologies, India’s biggest maker of TVs. Company CEO Atul Lall said that while the demand and sales of other consumer durables dipped during the lockdown, demand for TVs rose. Dixon Technologies, […]
Dixon Technologies, India’s biggest contract manufacturer of electronic items, has lauded the recently announced incentive scheme for mobile manufacturing in India, and said it is already able to sense strong interest from global smartphone manufacturers. From being a consuming state, India has — over the last 10 years — managed to get the majority of […]
Indian Army Chief General MM Naravane has confirmed for the first time that Indian and Chinese troops have begun the process of “disengagement” at the Galwan Valley in the northern areas of Ladakh after a series of local military consultations between the two forces. In an interaction with reporters after delivering the keynote address at […]
