India's first maritime lender, state-owned Sagarmala Finance Corporation Ltd (SMFCL) hit the ground running with a Rs 4,300 crore disbursement announcement last Tuesday, within months of being registered as a non-banking financial company (NBFC) in June 2025.
Sandwiched between a Hero MotoCorp showroom and a shop that hires out cooking utensils is a small, dingy building that's been locked up. The non-descript two-room building is a manufacturing unit of Sresan Pharmaceuticals, the pharma company made its Coldriff cough syrup that has allegedly killed 25 children in Madhya Pradesh.
As battery prices drop, early customers of Tata Motors, which was the first mover in the passenger EV market, could feel let down.
Maruti Suzuki India Ltd (MSIL), the largest passenger vehicle manufacturer in India, has set a road map to expand its global presence by targeting exports of 800,000 units by the end of this decade -- almost double the approximately 280,000 units sent abroad in 2023-24, Rahul Bharti, executive director, corporate affairs, told Business Standard. The company's upcoming electric vehicle (EV) strategy is expected to play a crucial role in its global ambitions.
The first luxury car will be launched in the first quarter of 2025 and the company is planning to open 12 'MG Select' showrooms in the next six months.
Industry experts believe that this deal will positively impact the Indian film industry, which is struggling with fewer movie releases.
Maruti Suzuki India (MSIL) plans to open new Arena Satellite showrooms as the country's largest carmaker aims to tap small towns and new markets, said a senior company executive, amid signs of recovery in rural demand and an approaching festival season. Senior executive officer for marketing and sales MSIL, Partho Banerjee, told Business Standard the company was aiming to penetrate deeper into markets and reach closer to its customers. "We have already had a concept of mobile showrooms in the Arena channel.
Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) - more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
With the recent launch of smartwatches, home-grown smartphone maker Lava is looking to secure a strong foothold in the Indian wearables market. The company aims to capture up to 20 per cent of this segment over the next few years, according to a senior executive.
In seeking visa approvals for engineers from China, the company has reasoned that India lacks the expertise to set up such a solar facility.
Mondelez, Coca-Cola, PepsiCo and Nestle India have been working on bringing down the sugar, salt, and sodium content.
Oravel Stays, the parent company behind the travel tech brand Oyo, is eyeing to clock Rs 100 crore in Q4FY24 profit after tax (PAT) and a 20 per cent revenue growth for FY24, according to informed sources. These numbers were part of an internal review meeting between founder Ritesh Agarwal and senior management earlier this week, where he spoke about the company's profitability trajectory and growth in business.
Sources close to the development told Business Standard the company was exploring different ways to save on its employee costs and had laid off a few employees on "performance" grounds. "We will see a similar development for the next few months. "The company is fine-tuning its hiring policies and implement rigourous measures to look into employee performance," a source said.
So far, GMTS has defaulted on the supply of more than 20 cargoes or shiploads, 13 of which were set to be received in the second quarter (July-September), officials said.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
'Since we have a long waiting period, customers will be able to see cars for the next one year which are going to be produced and block (book) them.' 'So, if there is a wedding or a birthday in October, they can already check its availability in that month and block it.'
'If it is your second car (electric vehicle), you typically keep it for travel within the city.' 'And the first car (internal combustion engine-run vehicles) can then be used to travel to some other cities.'
Reports suggested that stock market regulator, the Securities and Exchange Board of India (Sebi), is looking into the allegations of insider trading in the shares of Aptech, a computer training company in which Jhunjhunwala is a promoter. An email sent to Jhunjhunwala on the allegations did not immediately receive a response.
Major hospital chains such as Max Healthcare, Apollo and Fortis are going online in a big way, to extend their operations into smaller towns and cities.
The company will give the employees who work on March 9 an additional day of leave, to be credited to their account in April.
Pawan Munjal, MD & CEO, tells Business Standard that Hero Motor is firming up distributors abroad and considering assembly bases in some countries to sell a million units outside India by 2017.
The company on Wednesday said P V Ramprasad Reddy would resign as executive chairman, while Nithyananda would also step down from his post.
About 50,000 truckers, most of whom are single-truck owners, could be thrown off their businesses due to the recent fuel price hike. "Already the vehicle supply on the road is higher than the requirement. "With the fuel price hike, fleet owners will look to cut down fleet size wherever needed and due to this, small single-truck owners could be at the receiving end," Ashok Goyal, managing director at BLR Logistiks (I) Ltd said. The company has a fleet of 500 vehicles of all types-small, medium and large with pan-India presence.
Earlier this month, the high court asked Sesa Goa and JSW Steel to re-bid.
Two O P Jindal group companies, JSW Steel and JSL Stainless, have entered into an agreement. JSL Stainless will produce coke for JSW Steel and the raw material to produce coke will be supplied by JSW.JSW Steel is promoted by Sajjan Jindal. His brother, Ratan Jindal, is managing director of JSL Stainless.
The new telecom players in the country, which had received licences in January 2008 and were subsequently allocated spectrum, are ready to roll out services in the next three to four months.
Tata Motors-owned Jaguar Land Rover (JLR) is set to wrap up the 600-million ($850 million) three-year Chinese deal it had bagged in February 2009, one year ahead of schedule.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
Wipro Infotech, the India and West Asian IT business of Wipro, aims to use its data centre platform to offer a host of services, including cloud computing and software as a service (SaaS) on a pay-per-use model, Anand Sankaran, senior vice-president told Business Standard.
In an attempt to tap the growing market for lifestyle products, the Videocon group plans to come out with laptop computers, mobile phones and gaming solutions by the last quarter of 2008.
After years of giving free passes to counterparts from Korea, Japan, US in the Indian auto market, Chinese automakers had planned a major push to grab the fifth largest car market in the world. But the shutdown of factories and logistics hubs in the country following the outbreak of coronavirus is slowly constricting the business of Chinese auto majors which have recently entered India.
Videocon Industries Chairman and Managing Director Venugopal Dhoot told Business Standard the company had already started production of PCs -- 3,000 a month -- at its Taratola facility in Kolkata.
The airline would offer Re 1 ticket to a few passengers through a lucky draw as part of its promotional campaign.
LG Electronics, the official global partner of the ICC Cricket World Cup, will be launching a limited edition of official 29-inch colour televisions in India.
At a time when instability in the US leveraged buyout (LBO) market is making world equities markets jittery, JSW Steel is planning a leveraged buyout of a North American steel company.
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