Friday , 22 February 2019
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BUSINESS

Rapido Bike Launches Operations in Udaipur

Udaipur : Bengaluru-based organization Rapido Bike has launched its operations in Udaipur. This company offers a novel take on an age-old concept of transportation by replacing the conventional four-wheeler taxis with bikes. Rapido’s services have been widely received in South India, and the company is looking to expand its reach across the country gradually. The main aim of Rapido is ... Read More »

HDFC Bank opens 5,000th branch

Udaipur : HDFC Bank today opened its 5,000th branch in the country. In a double milestone, this branch was launched on the same day that it commenced operations in 1995,marking the start of its 25th year. The first branch was launched in Mumbai atSandoz House, Worli. Mr Aditya Puri, Managing Director, HDFC Bank inaugurated the 5,000thbranch in MIDC, Andheri, Mumbai ... Read More »

Air India Resumes Flights To Iraq After 30 Years

NAJAF, IRAQ: Air India on Thursday resumed flights to Iraq after a 30 year gap, when a plane carrying Shiite pilgrims landed in the city of Najaf. “This is the first time in the last 30 years” that a plane has come from India to Iraq, said Pradeep Singh Rajpurohit, India’s ambassador to Iraq, at the international airport that serves the ... Read More »

Shemaroo Announces the Launch of New OTT Platform‘ShemarooMe’

Saluting the spirit of Asli Bollywood Fan : With this New Over The Top (OTT) Video Streaming Platform users to get access to a plethora of offerings such as Bollywood, Gujarati, Devotion, Punjabi & Kids content  Udaipur : Shemaroo Entertainment Limited, launched it’sOver the TopplatformShemarooMein the presence of new age Bollywood sensation Tiger Shroff, in Mumbai.ShemarooMe is acomprehensive app for the ... Read More »

Bharat Forge reports 36% rise in Q3 net profit

Bharat Forge has reported results for third quarter ended December 31, 2018. The company has reported 35.79% rise in its net profit at Rs 309.83 crore for the quarter under review as compared to Rs 228.17 crore for the same quarter in the previous year. Total income of the company increased by 23.21% at Rs 1740.37 crore for Q3FY19 as ... Read More »

SpiceJet planning to introduce up to 20 Boeing 737 MAX aircraft

SpiceJet is planning to induct up to 20 Boeing 737 MAX and between 5 to 110 Q 400 aircraft during fiscal 2019. The Boeing MAX will allow the airline to fly to countries that are up to eight hours away from India. At present, the company has 12 Boeing MAX. SpiceJet is among the first private companies that stepped into ... Read More »

Trident wins ‘The Extraordinaire- Brand’ Award

Trident has been conferred with ‘The Extraordinaire- Brand’ Award at Brand Vision Summit ‘The Game Changers’ hosted by Nexbrands Inc. The award has been conferred upon Trident for having done the exemplary work. This award is a coveted recognition for pioneering the brand with customer-centric approach and placing the consumer at the center of all the company’s thoughts. Trident is ... Read More »

3M India reports 17% rise in Q3 consolidated net profit

3M India has reported results for third quarter ended December 31, 2018. The company has reported a rise of 10.57% in its net profit at Rs 101.39 crore for the quarter under review as compared to Rs 91.70 crore for the same quarter in the previous year. Total income of the company increased by 11.27% at Rs 746.02 crore for ... Read More »

HCL Technologies wins NASSCOM BPM Customer Excellence Awards 2018

HCL Technologies has won the NASSCOM BPM Customer Excellence Awards 2018 in Co-creation category. The company has received this recognition for helping its customer, a leading multinational bank and Financial Services company bring in customer-centricity with an innovative digital transformation of its Asset Management business. With the support of HCL Technologies, it set up an exclusive team to create a ... Read More »

BLB to surrender currency segment membership in NSE, BSE

BLB has received an approval to surrender currency segment membership in National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE). The Board of Directors of the company at their meeting held on February 12, 2019, approved the same. BLB is a corporate stockbroker with over 4 decades of experience in this highly complicated yet engrossing world of Stock ... Read More »

TRF planning to raise funds

TRF is planning to raise funds by issue of preference shares or any other securities through one or more methods including through qualified institutions placement, private placement, rights issue, preferential issue or through any other permissible mode or a combination thereof, subject to such regulatory / statutory approvals as may be required, including approval of shareholders of the company. The ... Read More »

Zydus Cadila gets USFDA’s final nod for Triamterene, Hydrochlorothiazide Capsules

Zydus Cadila has received the final approval from the United States Food and Drug Administration (USFDA) to market Triamterene and Hydrochlorothiazide Capsules USP (US RLD-DYAZIDE), 37.5 mg/25 mg. It will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad. The fixed dose combination of Triamterene and Hydrochlorothiazide is indicated for the treatment of hypertension or edema in patients ... Read More »

Ramco Systems signs agreement with Port of Tanjung Pelepas

Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), a member of MMC Group has sealed an agreement with Ramco Systems to upgrade the port’s current Enterprise Resource Planning system (ERP) system. The upgrade is part of PTP’s continuous efforts in empowering its digital strategy and enhancing its operational efficiency. In addition, it is also to supplement the port’s growing customer demand and ... Read More »

RBI imposes monetary penalty of Rs 15 million on Bank of Maharashtra

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 15 million on Bank of Maharashtra for non-compliance with various directions issued by RBI on monitoring of end use of funds, exchange of information with other banks, classification and reporting of frauds, and on restructuring of accounts. The penalty has been imposed in exercise of powers vested ... Read More »

IRIS Business Services bags order in Qatar

IRIS Business Services, in partnership with Malomatia Q.S.C., has been selected for providing a ‘Financial Statement System for Commercial Companies’ for the Ministry of Commerce and Industry, Qatar. IRIS Business Services is a global leader in XBRL. One or more of its solutions is used in some 22 countries across 4 continents including India, Singapore, USA, UK, Ireland, Italy and ... Read More »

NLC reports 5% rise in Q3 net profit

NLC India has reported results for third quarter ended December 31, 2018. The company has reported 5.00% rise in its net profit at Rs 329.49 crore for the quarter under review as compared to Rs 313.80 crore for the same quarter in the previous year. Total income of the company increased by 14.54% at Rs 2070.29 crore for Q3FY19 as ... Read More »

EbixCash World Money acquires stake in Weizmann Forex

EbixCash World Money has acquired stake in Weizmann Forex, consisting of 83,28,540 equity shares at price of Rs 528 representing 74.84% on February 06, 2019 pursuant to share purchase agreement between the Promoter and Promoter Group of the company and EbixCash World Money and consequently are in control of the company. EbixCash World Money is now part of the Promoter ... Read More »

RBI levies monetary penalty of Rs 2 million on HDFC Bank

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2 million on HDFC Bank for non‐compliance with various directions issued by RBI on Know Your Customer (KYC)/Anti‐Money Laundering (AML) standards, more specifically those contained in their circulars dated November 29, 2004 and May 22, 2008. The Bank has since implemented corrective action to strengthen its internal ... Read More »

Oil India reports 75% rise in Q3 net profit

Oil India has reported results for third quarter ended December 31, 2018. The company has reported a rise of 74.90% in its net profit at Rs 1,233.45 crore for the quarter under review as compared to Rs 705.22 crore for the same quarter in the previous year. Total income of the company increased by 34.25% at Rs 4,115.25 crore for ... Read More »

M&M participates in new road safety campaign: Report

Mahindra & Mahindra (M&M) has reportedly participated in a new road safety campaign ‘1 Crore Haath Saath Saath’. The road safety campaign was organised by the Society of Indian Automobile Manufacturers (SIAM), the Ministry of Road Transport & Highways (MoRTH), in partnership with the NGO Drive Smart Drive Safe (D2S). The flag-off event of the campaign saw 80 employees and ... Read More »

JK Paper reports 10% rise in Q3 net profit

JK Paper has reported results for third quarter ended December 31, 2018. The company has reported 9.76% rise in its net profit at Rs 120.26 crore for the quarter under review as compared to Rs 109.57 crore for the same quarter in the previous year. Total income of the company increased by 11.12% at Rs 883.94 crore for Q3FY19 as ... Read More »

Jain Irrigation Systems reports 23% rise in Q3 consolidated net profit

Jain Irrigation Systems has reported results for third quarter ended December 31, 2018. The company has reported a marginal fall of 2.70% in its net profit at Rs 62.98 crore for the quarter under review as compared to Rs 64.73 crore for the same quarter in the previous year. However, total income of the company increased by 6.64% at Rs ... Read More »

HUDCO achieves level of loan sanctions worth Rs 15,581.24 crore

Housing and Urban Development Corporation (HUDCO) has achieved the level of loan sanctions of Rs 15,581.24 crore and loan releases of Rs 15,534.37 crore (Release against previous year sanction is Rs 7,942.06 and release against current year sanction is Rs 7,592.31), as on January 31, 2019, for FY19. HUDCO finances social housing and residential real estate through primarily lending to ... Read More »

Bata reports 51% rise in Q3 net profit

Bata India has reported results for third quarter ended December 31, 2018. The company has reported 51.36% rise in its net profit at Rs 103.18 crore for the quarter under review as compared to Rs 68.17 crore for the same quarter in the previous year. Total income of the company increased by 15.73% at Rs 792.44 crore for Q3FY19 as ... Read More »

Bharti Airtel’s arm inks agreement with Telkom Kenya

Bharti Airtel’s subsidiary — Airtel Networks Kenya has signed an agreement with Telkom Kenya for merging their respective Mobile, Enterprise and Carrier Services businesses in Kenya to operate as – ‘Airtel-Telkom’. The finalization and closure of the transaction is subject to approval by the relevant authorities. As per the agreement, both the partners will combine their operations in Kenya and ... Read More »

Dilip Buildcon reports 26% rise in Q3 net profit

Dilip Buildcon has reported results for third quarter ended December 31, 2018. The company has reported a rise of 25.63% in its net profit at Rs 206.91 crore for the quarter under review as compared to Rs 164.70 crore for the same quarter in the previous year. Total income of the company increased by 27.97% at Rs 2492.64 crore for ... Read More »

Oriental Bank of Commerce gets nod to raise Rs 1186.00 crore

Oriental Bank of Commerce has received approval from its board to raise capital for an amount upto Rs 1186.00 crore through issuance of equity shares to the Government of India (GoI) on preferential basis. Oriental Bank of Commerce is a commercial bank. The Bank operates in four segments: treasury operations, corporate/wholesale banking, retail banking and other banking business operations. Read More »

Tata Steel reports 76% rise in Q3 consolidated net profit

Tata Steel has reported results for third quarter ended December 31, 2018. The company has reported a rise of 83.55% in its net profit at Rs 2,456.09 crore for the quarter under review as compared to Rs 1,338.09 crore for the same quarter in the previous year. Total income of the company increased by 12.56% at Rs 17759.85 crore for ... Read More »

WH Brady & Company to acquire 100% stakes of Brady Telesoft

WH Brady & Company has received the approval to acquire 47,520 equity shares i.e. 100% paid-up share capital of Brady Telesoft and making the said company as wholly owned subsidiary company. The Board of Directors of the company at their meeting held on February 8, 2019, approved the same. WH Brady & Company offers Aviation-Cargo Handling, Terminal Building, Airport Interiors, ... Read More »

RIL buys additional stake in Future101, Genesis Colors

Reliance Industries (RIL) has raised its stake in luxury apparel firms Future101 Design and Genesis Colors to strengthen its foothold in retail industry. Reliance Brands (RBL), a unit of RIL, has acquired a further stake of 2.5 per cent in Future101 Design on February 7, 2019, for a consideration of Rs 1.99 crore, taking its total stake in Future101 to ... Read More »

Wipro earthian Awards 2018 felicitate excellence in sustainability education

Wipro has organized the eighth edition of the Wipro earthian awards for the year 2018. The annual awards recognize excellence in sustainability within the education process in schools and colleges in India. Wipro earthian is one of India’s largest sustainability education programs for schools and colleges. The 2018 edition of the Wipro earthian program received 1300 entries, out of which ... Read More »

Ariel reignites the conversation on household inequality with – Sons #ShareTheLoad

Rajkummar Rao, Patralekha, Gauri Shinde,Josy Paul and Sonali Dhawan celebrate early success, share their views on driving equality within households Udaipur  : Ariel has been unearthing the reality of inequality within households since 2015 with their award-winning movement #ShareTheLoad.Ariel hosted a panel discussion with over a 100 mommy bloggers and media present to discuss the prevalence of gender disparity in ... Read More »

Redmi Note 7 India Launch: Everything We Know So Far

Redmi Note 7 was launched in China in January, and has been teased to be coming to India soon. Xiaomi country head Manu Kumar Jain has been dropping hints as well, and recently the phone’s India colour options and RAM + storage models were also purportedly leaked. The smartphone is the first to launch after the Redmi sub-brand announcement by Xiaomi. The ... Read More »

Minda Corporation reports 22% rise in Q3 consolidated net profit

Minda Corporation has reported results for third quarter ended December 31, 2018. The company has reported a rise of 51.75% in its net profit at Rs 24.78 crore for the quarter under review as compared to Rs 16.33 crore for the same quarter in the previous year. Total income of the company increased by 14.98% at Rs 288.72 crore for ... Read More »

CEAT commissions production of TBR Tyres at Halol plant

CEAT has commissioned the commercial production of the Truck Bus Radial (TBR) Tyres at the expansion phase of the Halol plant on February 07, 2019. CEAT is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and ... Read More »

Fomento Resorts receives Rs 15 crore from IndusInd Bank

Fomento Resorts & Hotels has received an amount of Rs 15 crore from Induslnd Bank of the sanctioned term loan for Rs 85 crore as per the loan agreements/credit arrangement executed on September 14, 2018 between the company and lnduslnd Bank. Fomento Resorts & Hotels is engaged in the hospitality industry. Read More »

Datamatics receives Automated Fare Collection contract for Mumbai Metro Line

The Consortium led by of Datamatics Global Services (DGSL) and AEP Ticketing solutions S.R.L, Italy (AEP), have been issued the letter of acceptance (LoA) for implementing Automatic Fare Collection (AFC) system for 52 stations of Mumbai Metro Line 2A (Dahisar to DN Nagar Metro), 2B (DN Nagar to Mankhurd Metro) and 7 (Andheri (E) to Dahisar) of the Mumbai Metro ... Read More »

Lupin recalling over 24000 bottles of Fluocinolone Acetonide from US

Lupin is recalling over 24000 bottles of Fluocinolone Acetonide topical solution used for treatment of a variety of skin conditions from the US and Puerto Rico. The reason for the recall is failed impurities and degradation specifications. The voluntary ongoing recall is a class II recall. According to a United States Food and Drug Administration (USFDA) report, Lupin Somerset is ... Read More »

Hero MotoCorp reports sales of 582,756 units in January

Hero MotoCorp has reported sales of 582,756 units for the month of January 2019. The weak market sentiment from the previous quarter spilled over to January and continued to dampen sales. The industry has been witnessing lower retail off-take in the past few months due to multiple factors, like the credit crunch and higher two-wheeler insurance costs. However, the customer ... Read More »

Godrej Properties to develop six new projects in Pune

Godrej Properties has entered into an equity investment platform in partnership with a Pune-based developer to develop six projects across Pune. This portfolio comprises various asset classes including group housing projects, plotted development, mixed use development and township projects. The total land that will be developed comprises of over 300 acres located across the prime markets of west and east ... Read More »

Laurus Labs gets EIR from USFDA for unit 6 in Andhra Pradesh

Laurus Labs has received an Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) for its Unit 6 on February 2, 2019. The manufacturing unit 6 was inspected by the regulatory agency in the month of November 2018 and is located at APSEZ, Atchutapuram, Visakhapatnam in the state of Andhra Pradesh. Laurus Labs is a leading research and ... Read More »

Gold futures end lower on better US Job data

Gold futures ended lower on Friday, snapping four day gaining streak with the better than expected US job data and report that revealed a monthly rebound in the ISM manufacturing index. Gold futures for February delivery settled $3.10 lower at $1,322.10 on the Comex division of the New York Mercantile. While, spot gold was down 0.23 percent to $1,317.56 per ... Read More »

Physical Rubber prices witness weakness on Friday

Physical Rubber prices showed some weakness on Friday on account of buyer resistance in the market. Further, bearishness in the global market too weighed on physical rubber prices. Spot prices for RSS-4 variety remained unchanged at Rs 123.50/kg; while the RSS-5 variety declined to Rs 116.50/kg compared to its previous closing of Rs 117/kg. Read More »

ICICI Pru AMC announces opening of its OPAT at Thiruvananthapuram

ICICI Prudential Asset Management Company has announced changes in the Scheme Information Document (SID) and Key Information Memorandum (KIM) of the schemes of ICICI Prudential Mutual Fund. As per the announcement, the AMC is opening its Official Point of Acceptance of Transactions (OPAT) at Thiruvananthapuram with effect from February 07, 2019. New Address: ICICI Prudential Asset Management Company Limited, TC ... Read More »

Aditya Birla Sun Life MF introduces Fixed Term Plan-Series SD (1168 days)

Aditya Birla Sun Life Mutual Fund (MF) has launched the Aditya Birla Sun Life Fixed Term Plan-Series SD (1168 days), a close ended income scheme. The NFO opens for subscription on January 31, 2019 and closes on February 06, 2019. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 1,000 and ... Read More »

Berger Paints India reports marginal rise in Q3 consolidated net profit

Berger Paints India has reported results for third quarter ended December 31, 2018. The company has reported a rise of 7.46% in its net profit at Rs 119.47 crore for the quarter under review as compared to Rs 111.18 crore for the same quarter in the previous year. Total income of the company increased by 21.30% at Rs 1,473.71 crore ... Read More »

Titan reports 43% rise in Q3 consolidated net profit

Titan Company has reported results for third quarter ended December 31, 2018. The company has reported a rise of 35.05% in its net profit at Rs 416.23 crore for the quarter under review as compared to Rs 308.21 crore for the same quarter in the previous year. Total income of the company increased by 35.11% at Rs 5,733.15 crore for ... Read More »

H.G. Infra Engineering reports 88% rise in Q3 consolidated net profit

H.G. Infra Engineering has reported results for third quarter ended December 31, 2018. The company has reported a rise of 85.96% in its net profit at Rs 35.24 crore for the quarter under review as compared to Rs 18.95 crore for the same quarter in the previous year. Total income of the company increased by 71.41% at Rs 553.79 crore ... Read More »

HCL features as Top Employer in UK

HCL Technologies (HCL) has recognized a Top Employer in the United Kingdom (UK) for the thirteenth consecutive year in recognition of its best-in-class employee engagement and people practices. The Top Employers Institute recognizes leading employers from around the world; those that provide excellent employee conditions nurture and develop talent at all levels of the organization, and which strive to continuously ... Read More »

VST Tillers Tractors reports sales of 553 tractors in January

VST Tillers Tractors has reported sales of Power Tillers and Tractors for the month of January 2019. The company has sold 1950 Power Tillers, while the Tractors sales of the company stood at 553 units for the month ended January 2019. VST Tillers Tractors was incorporated in technical collaboration and joint venture with Mitsubishi Heavy Industries and Mitsubishi Corporation, Japan ... Read More »