NCLT okays merger of Monsanto India with Germany’s Bayer CropScience
NEW DELHI: The National Company Law Tribunal (NCLT) on Friday approved the merger of biotech company Monsanto India Ltd with Bayer CropScience. In June 2018, German chemical and pharma major Bayer AG had announced completion of the USD 63 billion mega-deal to acquire US-based biotech major Monsanto to create the world’s biggest agro-chemical and seed […]
Reliance Infrastructure pledges 1.5 crore more shares in Reliance Power
NEW DELHI: Reliance Infrastructure on Friday pledged 1.5 crore additional shares in Reliance Power. According to a regulatory filing by the company, the reason for encumberance was “invocation of pledge against non-convertible debentures (NCDs) issued by Reliance Infrastructure Ltd”. The filing showed that the fresh pledge was done on September 9 in favour of lDBI […]
India sets 5G ball rolling, says spectrum auction by year-end or early 2020
NEW DELHI: Union telecom minister Ravi Shankar Prasad on Friday said the 5G spectrum auction will be conducted this year-end or early next year. “The communications policy is already in place, and by the end of the year or the beginning of the next year, we propose to go for auction of spectrum. We are […]
Auto sales growth outlook revised to 5-7% for FY20, says report
NEW DELHI:Automobile sales, excluding tractors is expected to grow 5-7 per cent this fiscal owing to factors such as higher vehicle prices, financing issues and higher insurance cost among others, Care Ratings said on Friday. The agency revised its outlook after industry volume witnessed sharpest decline at 13.3 per cent in April-August over the year-ago […]
Uber offers $750 million junk bonds to help finance acquisition of Careem
Uber Technologies is selling junk bonds to help finance its acquisition of Careem in its first debt offering as a public company. The ride-sharing company is looking to issue $750 million of debt due in 2027, according to a statement Thursday. Proceeds will be used to help fund its $3.1 billion purchase of Careem, a […]
RBI proposes Rs 200 crore minimum capital for small banks under ‘on tap’ licence regime
NEW DELHI: The Reserve Bank of India (RBI) on Friday proposed a minimum equity capital of Rs 200 crore to set up a small finance bank (SFB) under the ‘on tap’ licence regime to expand the banking services through high technology-low cost operations. Releasing the draft guidelines for ‘on tap’ licensing of SFBs in the […]
World will taste Koraput coffee grown by tribals
NEW DELHI: Odisha got its first brand of coffee in the name of ‘Koraput Coffee’ grown by the tribals here. Setting up the plant will promote coffee grown in Koraput and help growers get a fair price. Koraput Coffee is an initiative of the district administration’s coffee development trust with financial assistance from Tribal Development […]
HAL to receive Rs 45,000 crore orders for 83 LCA fighters
NEW DELHI: In a major boost for the indigenous defence manufacturing capability, the Indian Air Force (IAF) is expected to place orders worth around Rs 45,000 crore with the Hindustan Aeronautics Limited (HAL) to acquire 83 Light Combat Aircraft (LCA) Tejas fighters. The IAF had issued a tender for 83 LCAs about two years ago […]
County Group launches Coco County with an investment of Rs 300 crore
County Group , Coco County, Noida NEW DELHI: Realty firm County Group said that it has launched its new affordable luxury housing project ‘Coco County’ at Greater Noida West. The newly launched project is likely to entail an investment of Rs 300 crore dedicated towards the project itself. Strategically located at Sector Spreading 10 E, […]
Havells India aims at Rs 1,000 crore revenue from North East
GUWAHATI: Consumer electrical goods maker Havells India on Thursday said it will double the manpower at its manufacturing facility in Northeast within two years as it aims to touch Rs 1,000 crore sales revenue from the region. Havells India President Saurabh Goel, at a press conference here, said the company is expecting to increase its […]
ONGC signs MoU with Assam to invest Rs 13,000 crore for exploration
NEW DELHI: Oil and Natural Gas Corporation (ONGC) on Wednesday said it will invest over Rs 13,000 crore for exploration work across Assam in the next five years. The company said it has signed an agreement with the Assam government in this regard. “ONGC has signed an MoU with the Government of Assam for investing […]
Airfares set to rise 7-9% as Jet Airways crisis squeezes capacity additions
NEW DELHI: Air passengers are likely to shell out the highest fares for domestic travel this fiscal with the ticket prices expected to spike 7-9 per cent during the period because of limited capacity additions since the grounding of Jet Airways, rating agency Crisil Research said on Wednesday. Crisil also forecast domestic passengers traffic to […]
Apple does a Jio with TV+, offers content subscription at Rs 99 per month
NEW DELHI: With over 1.4 billion active installed base of devices globally and millions in India – iPhones, iPads, Apple TV, Macs, iPod touch and more – Apple has finally flexed its muscles to take on content streaming giants like Netflix, HBO, Amazon Prime and Disney with aggressive pricing, free offers and all-original stories. The […]
Ola, Uber not ‘strong factor’ in auto sector slowdown: Maruti Suzuki
NEW DELHI: Millennials opting for ride hailing services like Ola and Uber may not be that strong a factor for the current slowdown in auto sales and a detailed study is needed to arrive at any conclusion in the contrary, according to a top official of the country’s largest carmaker Maruti Suzuki India. Ownership pattern […]
Apple’s new iPhones to start at Rs 64,900, will be available from September 27
NEW DELHI: Apple enthusiasts will be able to get their hands on the latest line-up of iPhones — iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max — priced Rs 64,900 onwards from September 27. The Cupertino-based tech giant has also revised prices of its older generation iPhone models in India with the iPhone […]
Tata Motors global sales decline 32% to hit 72,624 units in August
NEW DELHI: Tata Motors on Wednesday reported a 32 per cent decline in global sales, including that of Jaguar Land Rover, to 72,464 units in August. It had sold 1,07,030 units in August last year. Global wholesale units of all Tata Motors’ commercial vehicles and Tata Daewoo range last month stood at 25,366 units, down […]