Latest India News
Battleground shifts to rural and small towns, where user base aspires to upgrade to smartphones
Japan's Kobe Steel has admitted that it sold products that failed quality control tests to about 500 companies
The board of the company declared an interim dividend of Rs 3 per share or 30 per cent on equity share for 2017-18
The disinvestment-bound national carrier would be taking delivery of three B777-300 ER planes early next year
Aditya Birla Group owned Hindalco Industries Ltd has firmed up plans to expand the capacity of its downstream mill at Hirakud in western Odisha. The facility makes flat rolled products (FRP) and will see an investment of Rs 4000 crore for ramping up capacity from 135,000 tonnes per annum now to 375,000 tonnes."We are looking for 100 acres of contiguous land to complete the expansion. Most of the products manufactured at the Hirakud FRP are exported. We are witnessing a very good demand for such products and this is driving our expansion", said R K Gupta, head (Sambalpur cluster), Hindalco Industries.Group company Aditya Aluminium owns an aluminium smelter of 0.36 million tonnes per annum capacity supported by 900 Mw CPP at Lapanga in Sambalpur district. It also has an FRP facility for rolled products, extrusion products and wire rods.Hindalco is in talks with Apar Industries for setting up a wire rod conductor making facility close to its smelting unit."We are not going to offer any ..
Indian IT services industry is changing its hiring pattern to take trained graduates for entry level jobs on board as more companies see increasing demand for digital technology-enabled services.The $154 billion IT-BPM sector, which hired 1.7 lakh people last year, has created hundreds of thousands of employment for more than a decade and carried out bulk hiring from Indian college and university campuses. IT services and business process management (BPM) companies are slowly shifting its focus towards trained freshers and lesser training time at workplace, said industry body Nasscom. While software services companies such as TCS, Infosys, Wipro, HCL Technologies, Tech Mahindra and others are in talks of co-creating courses to equip freshers with the initial training; BPM companies are looking at industry ready talent who can be deployed on client's business operations faster than before. As more customers of Indian IT companies seek services to be delivered using artificial ...
Indian Pharmaceutical Alliance (IPA), a body of major domestic pharma firms, today said Glenn Saldanha has been appointed as President for 2017-19. Saldanha is Chairman & Managing Director of Glenmark Pharmaceuticals. IPA also appointed Panacea Biotec Joint Managing Director Rajesh Jain as Vice President. The IPA, initially formed by eight national companies in November 1999, has now 20 research-based national pharmaceutical companies in its fold. Some of the prominent members include Lupin, Cadila Healthcare, Cipla, Dr Reddy's Laboratories and Sun Pharmaceutical Industries among others.
Also, the revenue growth reached $118 million growing 12.3% quarter-on-quarter
500 companies had received its falsely certified products confirming widespread wrongdoing at the steelmaker, says Kobe Steel CEO Hiroya Kawasaki
Of Rs 617 crore it plans to garner from the issue of fresh shares at the upper price band, the company would earmark Rs 165 crore for the inorganic growth
Faced with the burden of an additional cash outflow of atleast Rs. 5,600 every year on account of wage revision, Coal India may eventually hike coal prices to maintain its profit margin. It may happen in case the Maharatna company is not able to curtail its operating costs.Although an immediate price hike isn't under consideration, senior company officials are of the view that first, they need to curtail operating short-term and mid-term costs like closure of loss making mines, offering voluntary retirement scheme to curtail direct employees and opt for mine mechanisation."Eventually, if these doesn't help to maintain margins and in case global coal prices starts going up to touch, say, $ 100 a tonne, we may have to opt for a price correction", a senior company official told Business Standard.After a prolonged sluggish period, coal prices are currently hovering around $ 91 a tonne.Wages and other employee benefit expenses account for 48 per cent of the total cost overhead of the ...
As many as 34 new shopping malls, covering 13.6 million sq ft area, are expected to come up in top eight cities by 2020 as the scope for retail real estate remains high, according to Cushman & Wakefield. Hyderabad will see maximum 11 malls by 2020, followed by Delhi-NCR 8 malls, Bengaluru 6 malls, Chennai 4 malls, Kolkata and Mumbai 2 malls each and Pune one mall. No new supply is expected in Ahmedabad. "India will see close to 34 new malls by 2020 in the top 8 Indian cities," the consultant said in a report. Leasing of retail space in malls increased by 55 per cent during JanuarySeptember this year at 2.3 million sq ft. However, new supply saw a yearonyear decline of 63 per cent at 1.9 million sq ft. "There is now a regained confidence amongst developers to pay heed to this sector as investors show greater commitment towards it," C&W said, adding that an estimated Rs 7,959 crore has been invested by private equity funds in malls since 2016. "With the...
Consolidation would be the name of the game in e-commerce space next year: Mohandas Pai
iPhone accounts for just 3% of sales in India's 100 million-plus annual smartphone market
Bharti Airtel's takeover of Tata Teleservices' consumer mobile business will bolster its subscriber and revenue market share but could raise integration risk at a time when the Sunil Mittal-led company is also combining operations with Telenor, S&P Global Ratings has said. S&P said however that Airtel's rating is "unaffected" by its recently-announced acquisition of the Tata Group firm. "...in our view, this deal increases integration risk for Bharti because the company will be simultaneously integrating the operations of Telenor India (acquired last fiscal) and Tata Teleservices over the next 12-18 months, while responding to the intense competition," it said. The S&P Global Ratings note added however that it expects Bharti to be able to manage the integration risk because it has successfully managed such deals in the past, particularly in the African markets. The deal will be neutral to Bharti's leverage in 2017-18 and 2018-19, it said. Airtel will...
The smartphone comes bundled with additional data, free calls, national roaming, and Airtel secure package that covers the device against any physical damage and offers cyber protection
Thng has taken over as the airlines new CEO post all requisite approvals from the Government of India
Bharti will take over Tata's mobile operations in 19 circles
The company now has 17 models across five categories in its portfolio in the country
Business Standard looks at how the shopkeepers, store owners, traders, and businessmen are faring this festive season and what has brought down their spirits