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ICICI Bank acquires 9.09% stake in ed-tech platform Myclassboard Educational Solutions

December 29, 2020 2:51:48 pm

ICICI Bank said it will acquire 9.09 per cent stake in Myclassboard Educational Solutions Pvt Ltd (MESPL) for cash consideration of Rs 4.5 crore.

Dixon Technologies arm inks deal with Motorola Mobility for manufacturing of smartphones

December 28, 2020 12:31:08 pm

"Dixon's wholly owned subsidiary Padget Electronics has signed an agreement with Motorola for manufacturing of smartphones," Dixon Technologies said in a regulatory filing.

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‘Vaccine price to be outcome of scale; have output capacity of 30 mn doses per month’

December 26, 2020 4:05:35 pm

In an interview to PRABHA RAGHAVAN, Singh details how the Pune firm’s vaccine works and delves into plans to test and scale up production for a vast population. Edited excerpts:

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Consumer in focus: DoT & Trai may dash telcos’ hopes of fixed floor price

December 26, 2020 5:55:39 am

A final decision on the issue is likely to be taken after the spectrum auction in March. The DoT, however, does not want to be seen taking an anti-consumer stance and therefore may avoid the floor pricing altogether, officials said.

Larsen & Toubro

Larsen & Toubro prints 3D ground plus one building in India

December 24, 2020 3:31:24 pm

Larsen & Toubro has 3D printed the building of 700 square feet built-up area at its Kanchipuram facility with an in-house developed concrete mix, using indigenously available regular construction materials.

Volkswagen to hike Polo, Vento prices in India by up to 2.5% next month

December 24, 2020 12:49:25 pm

Volkswagen joins other automobile manufacturers such as Maruti Suzuki India, Nissan, Renault India, Honda Cars, Mahindra & Mahindra, Ford India, Isuzu, BMW India, Audi India and Hero MotoCorp, which have already announced that they would hike prices from January due to increased input costs.

Aurobindo Pharma

Aurobindo Pharma to make COVAXX’s potential COVID-19 vaccine for India, UNICEF

December 24, 2020 12:27:05 pm

Aurobindo said it could currently produce 220 million doses, but is ramping up its facilities to reach a capacity of nearly 480 million by June 2021.

Nissan to hike prices of all vehicles in India by up to 5% from January

December 23, 2020 4:48:39 pm

The revised prices will be applicable across all available models for Nissan and Datsun, effective January 2021, Nissan Motor India said in a statement.

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Honda discontinues CR-V, Civic as it shuts Greater Noida plant

December 23, 2020 11:36:16 pm

The automaker said the decision to stop production at the plant, which came up in 1997, has been taken as part of realignment of manufacturing operations to improve business efficiency.

Cairn Energy wins arbitration in tax spat with Indian government

December 23, 2020 12:14:18 pm

Cairn Energy’s victory will be a second loss for India in an international arbitration after Vodafone Group Plc won a years-long tax dispute with the Indian government in September over a controversial $3 billion tax demand.

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Elon Musk says Apple CEO didn’t take meeting about buying Tesla

December 23, 2020 10:30:39 am

In a tweet Tuesday, Musk said he reached out to Apple CEO Tim Cook “to discuss the possibility of Apple acquiring Tesla (for one-tenth of our current value). He refused to take the meeting.”

Crude production slips 4.9% amid low demand, shutdowns

December 23, 2020 3:42:39 am

Lower demand due to Covid-19 and plant shutdowns planned to coincide with lower demand were key reasons for lower output, a government release said.

Wipro inks $700-mn IT takeover deal with Metro AG

December 23, 2020 11:49:09 am

Metro is a leading international wholesale company, with food and non-food assortments, specialising in serving needs of hotels, restaurants and caterers as well as independent traders.

Apollo Tyres launches portal to foray into online sales space

December 22, 2020 4:44:46 pm

Customers can choose from Apollo Tyres' extensive dealer network for the fitment of tyres purchased online, for which the appointments will be booked through the online portal, the company said.

Government invites preliminary bids to sell 63.75% stake in Shipping Corp of India

December 22, 2020 12:05:43 pm

At the current market price, the government's stake sale in Shipping Corp is valued at about Rs 2,500 crore.

Mahindra & Mahindra arm SsangYong Motor files for bankruptcy

December 22, 2020 10:19:41 am

The SYMC has filed an application for commencement of rehabilitation procedure with the Seoul Bankruptcy Court under the Debtor Rehabilitation and Bankruptcy Act of South Korea, M&M said in a regulatory filing.

FRL-Reliance deal: Delhi HC rejects Future plea to restrict Amazon from writing to regulators

December 22, 2020 12:19:05 am

The court, however, did not void FRL board’s nod for the Rs 24,173-cr deal with Reliance.

Ensuing tariff hikes to fuel revenue growth, better debt metrics for telcos in FY2022: ICRA

December 21, 2020 5:47:34 pm

"Next round of tariff hikes are expected soon as the industry debt continues to remain elevated, likely to at Rs 4.7 lakh crore as on March 31, 2022," ICRA said in a release.

Mitsubishi Motors to focus on hybrids in SE Asia, part of regional ‘electrification’ push

December 21, 2020 1:14:46 pm

Mitsubishi decided to localise the Outlander's production in part to take advantage of incentives for hybrid technology.

Stronger safeguards the need of the hour, extend whistleblower provision: Experts

December 20, 2020 2:11:09 am

Current provisions of the Companies Act only require listed companies, firms that accept public deposits and firms that have loans from banks or public financial institutions of over Rs 50 crore to have a vigil mechanism.

Narasapura plant violence: Wistron sacks VP, Apple puts firm on probation

December 20, 2020 1:05:44 am

The Apple statement said it has “placed Wistron on probation and they will not receive any new business from Apple before they complete corrective actions”.

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Apple supplier Wistron could not manage scaled up India plant, government report says

December 19, 2020 5:42:29 pm

Several thousand contract workers at Wistron angered over alleged non-payment of wages destroyed property, factory gear and iPhones at the plant early on Dec. 12, causing millions of dollars in losses to the Taiwanese contract manufacturer and forcing it to shut the plant.

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Narasapura plant rampage: Wistron accepts mistakes, sacks vice president; Apple puts firm on notice

December 19, 2020 8:13:30 pm

“Since the unfortunate events at our Narasapura facility we have been investigating and have found that some workers were not paid correctly, or on time. We deeply regret this and apologize to all of our workers,” said a statement from Wistron on Saturday.

RIL, BP start output from Asia’s deepest offshore field

December 19, 2020 2:36:01 am

R Cluster, the ultra-deep-water gas field in block KG D6 off the east coast of India. Located at a water depth of over 2,000 m, it is the deepest offshore gas field in Asia.

Gucci joins Alibaba’s luxury e-commerce site to woo Chinese consumers

December 18, 2020 11:37:08 am

Gucci's first flagship store, selling fashion and leather goods collections, will open on Dec. 21, the two companies said in a joint statement on Friday.