Business News
Browse all articles and features filed under the News desk.
Base Corporation to enter telecom and auto sectors
Bangalore-based battery manufacturer Base Corporation has decided to enter the telecom and automotive equipment sectors from its proposed Rs.432-crore plant near Hosur in Tamil Nadu. “Presently we are catering to the automotive replacement market and the inverter segment out of o
Volkswagen to increase market share to 20 per cent by 2018
Volkswagen is eyeing to capture 20 per cent share of the Indian automobile market by 2018, rolling out five million cars, a company official said Wednesday. “Our current market share in India is 2.6 per cent and we are looking up to increase it to at least 20 per cent by 2018. Ac
‘Investment in solar power projects to double by 2015′
With investment in solar power projects expected to double in the next five years, photovoltaics could account for nine percent of the global power demand by 2030, according to a study released here Wednesday. Photovoltaics (PV) is a method of generating electrical power by conve
Carborundum Universal Q2 net profit grows 55 percent
Abrasives major Carborundum Universal Ltd (CUMI) closed the second quarter of the current fiscal with a consolidated revenue and profit growth of 26 percent and 55 percent respectively. The Murugappa group company Wednesday said its consolidated sales and net profit grew to Rs.40
Rediff introduces mobile email service
Rediff in partnership with Mahanagar Telephone Nigam Ltd (MTNL) Wednesday introduced a mobile email service for Rs.50 a month. “We will provide quite secure and user-friendly services. Its most features are like BlackBerry. But it is cheaper, more importantly, works on most phone
Ashok Leyland Q2 profit up 89 percent, to expand globally
Commercial vehicle manufacturer Ashok Leyland closed the second quarter of the current fiscal with a 89 percent increase in net profit and 72 percent growth in revenue, and is planning global expansion through organic and inorganic modes. For the second quarter ended Sep 30 this
Canara Bank Q2 profit up 11 percent to Rs.1,007.9 crore
Canara Bank said Wednesday its net profit rose 10.69 percent to Rs.1,007.88 billion in the second quarter of the current fiscal. The bank has posted a net profit of Rs.1007.88 crore for the quarter ended Sep 30, 2010 as compared to Rs.910.52 crore during the corresponding quarter
Harley-Davidson posts Q3 profits, but sales drop
Harley-Davidson Inc Tuesday said its third-quarter profits more than doubled, led by the improved performance of its financial services unit, but reported a drop in worldwide sales. The largest US motorcycle maker said its net income climbed to $88.8 million from $26.5 million a
Sensex dull in morning trade
A benchmark index of Indian equities Wednesday was ruling tardy, having slipped from its opening highs. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,223.45 points, was after half an hour ruling at 20,219.85 points, up 16.51 points o
Magma Fincorp Q2 profit up 67 percent
Non-banking finance company Magma Fincorp clocked a profit after tax (PAT) of Rs.26.36 crore in the second quarter (July-September) of 2010-11 compared to Rs.15.75 crore during the corresponding period last fiscal, a rise of 67 percent. “We have recorded 28 percent growth in disb
High tax structure keeping away PlayStation customers: Sony
Sony Computer Entertainment Europe (SCEE) Tuesday said the high tax structure in India is keeping away many potential customers from its flagship product PlayStation. “The PlayStation 3, which is available at around $330 per unit in global market is priced around $380-390 per uni
SBI employees rank lowest in bringing business: RBI rankings
Employee productivity is the lowest at the State Bank of India (SBI), the largest lender in India, according to statistics laid out in a Reserve Bank of India (RBI) analysis on domestic and foreign banks. The business brought in by each employee of SBI and its associates during 2
Customers suffer the brunt of the bulk SMS ban
Shivani Anand, 28, was mystified when she didn’t receive transaction alerts after swiping her credit card in a shopping spree. A concerned Shivani called up her bank’s (ICICI) helpline, only to find out she would not be getting any updates or alerts from the bank on her transacti
Sensex continues bull run, rises 125 points in early trade
A benchmark index for Indian equities Wednesday built on its two-day rally, rising more than 125 points in opening trade. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,343.74 points, was at 19,472.12 points, 125.16 points or 0.65 per
Sensex choppy in early trade
A benchmark index for Indian equities was ruling moderately higher from its previous close, but trading was choppy during the first 30 minutes since opening bell. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,238.03 points, was at 18
Telecom services can bridge rich-poor divide: Rahul
Congress general secretary Rahul Gandhi Thursday launched 3G-services in his parliamentary constituency, noting that telecommunication services play an important role in development as they can bridge the rich-poor and the rural-urban divide, party officials said. Gandhi was acco
Third generation mobile services to hit the markets soon
Making certain amendments to the licence terms, the government Wednesday allocated airwaves to private telecom operators like Bharti Airtel, Reliance Communications, Vodafone and Idea Cellular to roll out the third generation (3G) mobile and broadband services in the country. The
India will not compromise on security, firm on BlackBerry
India will not compromise on its security and all telecommunication data-related companies will have to comply with its demands, Home Minister P. Chidambaram said Wednesday. Presenting his ministry’s monthly report on security, Chidambaram said all companies who have come under t
Air India most trusted brand award in Economic Times survery
Air India has been ranked the “most trusted brand” in aviation for the fifth consecutive year by the Economic Times Brand Equity Survey 2010, the national carrier said Wednesday. “Air India has also been ranked 28th among the top 50 service brands, ahead of leading banks, insuran
US economy growing, but not fast enough: Obama
US President Barack Obama says with the US economy growing, but not fast enough, he would “keep on pushing” to keep America’s fragile recovery from global downturn on track. “The economy is still growing, but it’s not growing as fast as it needs to. I’ve got things right now in —