Air travel and glitch-free internet access are often considered mutually exclusive, thanks to the technical difficulties associated with making WiFi work at 40,000 feet. For the airlines, a satisfying online experience is even more elusive. The hardware, software, maintenance and inability to easily switch service providers combine for a very expensive headache. But there may … Read more
NEW DELHI: South Korea’s Kia Motors is discussing with Tamil Nadu the possibility of moving a $1.1 billion plant out of neighbouring Andhra Pradesh only months after it fully opened, due to policy changes last year, sources close to the talks told Reuters. Kia inaugurated the Andhra plant, its first in the world’s fifth-largest car … Read more
Private equity firm ICICI Venture Funds-backed patisserie Theobroma Foods Pvt. Ltd has set out on an aggressive expansion plan as it looks to multiply its sales fourfold over the next three to four years, two senior executives of the company said in an interview. “We plan to grow our sales to ₹500 crore, the number … Read more
Mumbai: Ahead of the presentation of the Union Budget 2020-21, largest pure play home financier HDFC on Tuesday pitched for a one-time loan recast for realty projects. Its Chairman Deepak Parekh said lenders are not able to write new loans for projects because a new borrowing by an entity which is already a non performing … Read more
Tesla’s market value hit $100 billion for the first time Wednesday, triggering a payout plan that could be worth billions for Elon Musk, founder and chief of the electric carmaker. Shares in Tesla rose some 4.8 per cent in opening trade to extend the gains in the value of the fast-growing maker of electric vehicles. … Read more
The rift within the family running Hyderabad-based logistics company Gati would have stayed under wraps had the firm not decided to cede management control to Allcargo Logistics in a deal. The prime mover of the agreement is Managing Director (MD) and Chief Executive Officer (CEO) Mahendra Agarwal while his wife, Neera Agarwal, and their two … Read more
In a first, pharma major Wockhardt has got the nod from the Drug Controller General of India (DCGI) for two new antibiotic medicines, which it plans to launch in the Indian market over the next few months. In the last 15 years, there has been no new antibiotic launch in this category (gram-positive bacterial infections) … Read more
For the quarter ended December 31, 2019, DMart reported a 53.3 per cent yoy rise in net profit at Rs 394 crore. Profit before tax for the period under review stood at Rs 497.34 crore, a YoY growth of nearly 26 per cent. Net sales for the period grew nearly 24 per cent to Rs … Read more
MUMBAI: Country’s largest public sector lender State Bank of India on Wednesday announced a ‘residential builder finance with buyer guarantee’ (RBBG) scheme aimed at giving a push to residential sales and improve homebuyers’ confidence. Under this scheme, the SBI will issue a guarantee for completion of select residential projects to customers which have availed home … Read more