Markets

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

Govt to Sell Stake in ONGC this Fiscal: Oil Minister Dharmendra Pradhan

The Narendra Modi government is going ahead with the stake sale of ONGC in the current fiscal, said oil minister Dharmendra Pradhan.

Jan 28, 2015

SpiceJet Supersale: Airline Offers 5 Lakh Seats with Fares Starting from ₹1,499

The budget airline indicated its return to the deep-discount air ticket frenzy, offering 5 lakh seats with fares starting from ₹1,499

Jan 28, 2015

IBM Job Cuts to Affect 5,000 Employees in India: Report

IBM's India operations have 1.3 lakh employees, accounting for over a quarter of its global workforce.

Jan 28, 2015

Apple Beats Samsung As The Global Smartphone Leader, Gartner Shows In Numbers

Apple Records Highest Quarterly Profit in History as iPhone Sales Zoom

Apple posted the highest recorded quarterly profit ever at $18bn owing to strong iPhone sales.

Jan 28, 2015

BSE closes points 76.26 up on Jan 27

New Delhi, Jan 27 (ANI): Trading at the Bombay Stock Exchange today closed 76.26 points up to stand at 29,355.10. At the National Stock Exchange the Nifty closed 16.15 points up to stand at 8,851.75. JETAIRWAYS and EDELWEISS were among the top gainers of Group A with an increase of 14.74% and 10.25% along with SPARC and MAX with an increase of 10.00% and 9.34% respectively, while the top losers of Group A include GSFC and FSL with a decrease of 11.94% and 7.09% along with UNION BANK and GRUH with a decrease of 5.45% and 5.04% at the close of the markets. The Auto sector is up 265.19 points at 20,371.97. The Indian currency is up 0.22% at Rs 61.46 per dollar.

Jan 27, 2015