HUL`s new unit in Assam starts commercial production

The Rs 1000 crore personal care products unit of Hindustan Uniliver Ltd at Doomdooma in Assam began Commercial production, reported PTI. Assam Chief Minister Arbananda Sonowal and Global CEO of Uniliver Paul Polman jointly inaugurated the new unit, the fourth in the state. Polman said that Uniliver is committed to Prime Minister Narendra Modi's 'Make in India' plan.

The un

Escorts targets 17% tractor sales increase in FY18

Engineering conglomerate Escorts on Wednesday said it expects its tractor sales to increase by over 17 per cent in 2017-18.

According to the company, it has set an off-take of 75,000 units as the overall sales target for tractors during the fiscal under review from 63,786 sold during 2016-17.

"We have set a target to sell about 75,000 units (tractors) during this fiscal

RIL forays into new materials, buys Kemrock Industries` assets

Mukesh Ambani-led Reliance Industries (RIL) on Wednesday announced its foray into the composites, or new materials, business with its acquisition of assets of Kemrock Industries based at Vadodara in Gujarat.

"RIL participated in an on-line e-bidding process held recently by Allahabad Bank, being leader of the consortium of 11 Banks to sell/dispose off assets of Kemrock Industries

Nestle R&D Centre launches first food safety institute in India

Nestle India on Wednesday said it has inaugurated the first Nestle Food Safety Institute (NFSI) in the country at its Research and Development (R&D) Centre in Manesar to develop a collaborative approach towards ensuring safe food.

According to the company, NFSI India -- an integral part of Nestle R&D Centre India -- will work closely with the Nestle Research Center in Lausanne

BSNL, Coriant tie up to chart 5G, IoT path

State-owned Bharat Sanchar Nigam Limited (BSNL) on Wednesday entered into an agreement with US-based networking solutions provider Coriant to chart the path to 5G and Internet of Things (IoT) in India, a company statement said here.

The Memorandum of Understanding was signed between BSNL and Coriant for laying foundation for innovation in network architectures and services leveraging

Renault India sees uptrend in demand for Lodgy from fleet segment

French auto company Renault's Indian subsidiary, Renault India on Wednesday said it is targeting to close this year selling over 100,000 units in the domestic market while seeing an uptrend in demand for its multi-purpose vehicle (MPV) Lodgy from the fleet segment.

Renault India CEO and Managing Director Sumit Sawhney also said that Renault India will ship its models to Bhutan and

Indus Towers joins hands with Indian Oil to expand network

New Delhi Tower infrastructure company Indus Towers signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL), for setting up a mobile tower network across all 26,000 outlets pan-India, a company statement said here on Wednesday.

"Indus Towers' unique proposition of building robust infrastructure at various IOCL retail ou

HDFC Bank's 'Eva' becomes India`s smartest chatbot

Artificial Intelligence (AI)-based chatbot 'Eva' -- built for HDFC Bank by Bengaluru-based Senseforth AI Research -- has successfully addressed over 2.7 million customer queries in six months to become the country's largest banking chatbot.

According to HDFC Bank, it collaborated with Senseforth and launched 'EVA' (Electronic Virtual Assistant) in March this year o

Sensex, Nifty end lower, rupee hits three-week low on North Korea tensions

Indian shares fell on Wednesday, while the rupee hit its weakest level in three weeks against the dollar as tensions over North Korea's latest nuclear test continued to weigh, spooking investor sentiment globally.

The Nifty ended 0.36 percent lower at 9,916.20, while the Sensex closed 0.46 percent lower at 31,661.97. ITC Ltd fell 2.5 percent and was the biggest drag on the indexes

Dr. Reddy`s Lab bags approval to market Metaxalone tablets

Pharma major, Dr. Reddy's Laboratories has said that it has received the US Food and Drug Administration (USFDA) approval to market Metaxalone tablets, USP 800 mg. “The drug belongs to a generic version of Skelaxin tablets. Skelaxin is a trademark of King Pharmaceuticals Research and Development, Inc,” the company said in a filing to the Bombay Stock Exchange.

The tabl

Star India injects $192 million into digital content arm

MUMBAI - Star India, a media company backed by Twenty-First Century Fox, has injected 12.33 billion rupees ($192.04 million) into its digital content arm over the last six months amid intense competition among online video providers in India.

Through a rights issue, Star India infused the money in Novi Digital Entertainment Pvt Ltd, which runs streaming video pla

SEBI calls for new ways to manage foreign inflows

By Abhirup Roy

MUMBAI - A senior official at India's capital markets regulator warned on Wednesday about the impact of "huge" foreign investments on the rupee and called for ways to manage the inflows through "a calibrated system."

The comments, from Securities and Exchange Board of India (SEBI) Whole-Time Member G. Mahalingam, deliv

Oracle Financial Services allots 2,030 equity shares

Oracle Financial Services Software said that it has allotted 2,030 equity shares to the eligible Employees of the Company under the Employee Stock Option Scheme 2011 and OFSS Stock Plan 2014. “The ESOP Allotment Committee of the Company at its meeting held today allotted 2,030 equity shares of face value of Rs.5/- each to the eligible Employees of the Company who have exercised their stoc

Titagarh Wagons’ arm appoints Soprano as new CEO

Freight wagon manufacturer Titagarh Wagons has said that it has appointed Vincenzo Soprano as Chief Executive Officer (CEO) of its Italian arm, Titagarh Firema. “Soprano is an electric engineering graduate and MBA from Milan, with specialisation in strategic marketing from Luigi Bocconi University,” Titagarh Wagons said in a filing to the Bombay Stock Exchange. "Titagarh Firema

Negative global cues subdue equities; healthcare, FMCG stocks plunge

Mumbai, Sep 6 Negative global cues and heavy selling pressure in index heavyweights like ITC, Sun Pharma, Lupin and Axis Bank, among others, pulled the two key Indian equity indices lower during the mid-afternoon trade session on Wednesday.

Sectorwise, the healthcare and FMCG indices plunged into the negative zone.

Around 1.25 p.m., the

BSNL launches GSP/ASP service for SMEs, large businesses

State-owned telecom giant Bharat Sanchar Nigam Ltd (BSNL) on Tuesday said it has introduced GSP (GST Suvidha Provider)/ASP (Application Service providers) service on pan India basis in partnership with Taxmann Publications to assist small and medium enterprises (SMEs) as well as large business houses in transitioning to GST.

According to BSNL, the service will assist SMEs and larger b

HCL acquires data management platform Datawave

HCL Technologies on Wednesday announced the acquisition of automation-driven data management platform Datawave for an undisclosed sum.

Datawave, a flagship product of Britain-based ETL Factory Limited, is extendable to other platforms, including big data.

"The acquisition of Datawave and its suite of products bolsters HCL's capabilities to collaborate with clients o

Bajaj Fin sets Rs 1,771.90 as floor price for proposed QIP

Bajaj Finance has set the floor price of its proposed QIP worth Rs 4,500 crore at Rs 1,771.90 per share, reported PTI. Earlier in July, the company had informed about the board meeting that gave its go ahead for the Rs 4,500 crore capital raise plan through a qualified institutions placement (QIP) to qualified institutional buyers. "The special committee of the board of the company today p

Ex-RBI head Rajan: for central banks, stabilising currency is key

CHENNAI  - The most important function for a central bank is to stabilise the exchange rate, and that involves containing inflation to protect the currency's value, former Reserve Bank of India Governor Raghuram Rajan said on Tuesday.

"I think for the central bank stabilising the value of the rupee and holding it are most important tasks," said Raja

MSI will not hold back in electric vehicle segment: Bhargava

With the government focusing on promotion of electric vehicles, Maruti Suzuki India will not hold back in the segment and will come up with models based on customer preference, according to company chairman R C Bhargava, reported PTI. The auto major, which has around 50 per cent of the market share in the Indian passenger vehicle segment, also expects its sales to grow in double digits over the

Gartner positions Ramco in Magic Quadrant for HCM Suites

Ramco Systems, a global enterprise software company has said that Gartner, Inc. has positioned Ramco Systems as a Niche Player in its 2017 Magic Quadrant for Cloud Human Capital Management (HCM) Suites for Midmarket and Large Enterprises. “This marks Ramco’s debut in the Cloud HCM quadrant, once again becoming the sole Asia Pacific headquartered vendor to meet the inclusion criteria

MRO-TEK Realty appoints Sudipto Gupta as new CEO

MRO-TEK Realty Ltd has said that it has appointed the former Country Director of Wistron Corp’s Indian operations, Sudipto Gupta as Chief Executive Officer effective this month. Gupta is expected to take charge soon. Speaking on the occasion, Aniruddha B. Mehta, Chairman & Managing Director of the company, said, “For three decades, MRO-TEK has been known as a trailblazing Indian

Wipro positioned as ‘Leader’ by Everest Group

Wipro Limited, a leading global information technology company has said that it has been positioned as a Leader by Everest Group, a global independent consulting and research firm, in the PEAK Matrix™ Assessments for Automation in IT Application Dev-Test, IT Infrastructure Services Automation, and Business Process Service Delivery Automation (BPSDA). “These three PEAK Matrix™

HDFC to raise Rs 2,000 cr via bonds

Mortgage lender HDFC will raise Rs 2,000 crore by issuing bonds on private placement basis to augment its long-term capital. "The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," HDFC said in a filing.

The i

BSNL launches unlimited voice and 1 GB per day data plan for Rs 429

State-owned telecom giant Bharat Sanchar Nigam Limited (BSNL) has launched a voice and data centric plan for Rs 429, which will provide unlimited voice and 1 GB data per day for 90 days for prepaid mobile services.

This plan will give free voice (local/STD) on any network and 90 GB data (1 GB per day) for 90 days on pan-India basis (except Kerala Circle), a company statement said here