Business news

Tigerair Calls Off Passenger Swapping Agreement with SpiceJet

The Singapore-based low-cost air carrier cited unsatisfactory business outcome to terminate the one-year-old agreement.

Jan 29, 2015

Samsung Galaxy S5 4G-LTE model with Snapdragon 801 CPU to Debut in India Soon

Samsung's Q4 Net Up; Galaxy S6 Sales to Boost Revenues in 2015

Samsung Electronics posted net profit of approximately $4.88 billion on total revenues of approximately $48.11 billion

Jan 29, 2015

Zomato Acquires Turkish Restaurant Search Portal Mekanist; Seventh Acquisition in 6 Months

Zomato continues with its buying spree, picks up Turkey's Mekanist for an undisclosed sum, expanding its footprint in the bridge between Asia and Europe.

Jan 29, 2015

BSE closes points 122.59 up on Jan 29

New Delhi, Jan 29 (ANI): Trading at the Bombay Stock Exchange today closed 122.59 points up to stand at 29,681.77. At the National Stock Exchange the Nifty closed 38.05 points up to stand at 8,952.35. HDIL and ARVIND were among the top gainers of Group A with an increase of 13.73% and 8.93% along with PRESTIGE and JET AIRWAYS with an increase of 8.58% and 7.57% respectively, while the top losers of Group A include ORIENT BANK and ALSTOM T&D INDIA LTD. with a decrease of 10.77% and 10.37% along with SPARC and GPPL with a decrease of 8.71% and 7.45% at the close of the markets. The Auto sector is up 39.33 points at 20,248.96, while the banking sector is up 9.72 points at 23,448.80 and the reality sector is up 53.98 points at 1,772.81. The Indian currency is up 0.46% at Rs 61.69 per dollar.

Jan 29, 2015

Olacabs to Buy Rival TaxiForSure for $200 mn to Take on Uber

Taxi aggregator Olacabs bought rival TaxiForSure to help take on the might of US-based Uber and also to rationalise costs.

Jan 29, 2015

Coal India: 10% Stake Sale on Friday to Raise ₹24,000 Crore; Shares Slide by 5%

The government has decided to divest almost 10% of its share holding in Coal India, to help mop-up almost ₹24,000 crore to help manage the fiscal deficit at 4.1%

Jan 29, 2015

Airlines Announce Discounted Fares to Tide over Lean Season; Lakhs Of Tickets go on Sale

In a bid to pull in more customers over the lean season, airlines have dropped airfare to gain more customers to improve load factor.

Jan 29, 2015

Maruti Suzuki sets up manufacturing plant in Gujarat

Ahmedabad, Jan 29 (ANI): Gujarat Chief Minister Anandiben Patel laid the foundation stone of Maruti Suzuki’s car manufacturing plant in Ahmedabad city. Japan's Suzuki group plans to set up three plants in Hansalpur village of Ahmedabad, which will exclusively supply to Maruti Suzuki India Limited. The plant is likely to start production in mid-2017. The foundation stone laying ceremony was held in the presence of Japanese ambassador to India, Takeshi Yagi, Chairman and CEO Suzuki Motor Corporation, Osamu Suzuki, and Chairman of Maruti Suzuki India, RC Bhargava. While addressing a gathering, Suzuki said that setting up of the manufacturing facility was beginning of a new era and also praised Prime Minister Narendra Modi’s ‘Make in India’ initiative. Meanwhile, Bhargava shared details of the project.

Jan 29, 2015

Former Indian Government under UPA Wanted to Tap Vodafone Calls, Messages

Vodafone Tax Case: Centre Not to Appeal Against Bombay High Court Order

The Narendra Modi government has decided not to appeal against the Vodafone tax case, which was decided by the Bombay High Court in favour of the mobile company.

Jan 28, 2015

TCS Bets High on Digital Vertical, Eyes $5bn in Revenues

TCS expects the digital vertical to bring in as much as $5bn in revenue, as it sees all businesses gradually move towards digitization, hires 1,500 experienced professionals.

Jan 28, 2015

BSE closes points 11.86 down on Jan 28

New Delhi, Jan 28 (ANI): Trading at the Bombay Stock Exchange today closed 11.86 points down to stand at 29,559.18. At the National Stock Exchange the Nifty closed 3.80 points up to stand at 8,914.30. AJANTPHARM and TITAN were among the top gainers of Group A with an increase of 11.96% and 7.29% along with SUZLON and SHRIRAM TRANSPORT FINANCE CO.LTD with an increase of 6.96% and 5.53% respectively, while the top losers of Group A include REDINGTON (INDIA) LTD and GSFC with a decrease of 7.38% and 5.77% along with PERSISTENT SYSTEMS LTD and Edelweiss Financial Services Ltd with a decrease of 5.70% and 5.18% at the close of the markets. The Auto sector is down 146.15 points at 20,209.63, while the banking sector is down 105.58 points at 23,406.18 and the reality sector is up 26.46 points at 1,718.83. The Indian currency is up 0.09% at Rs 61.34 per dollar.

Jan 28, 2015