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Torrent to acquire Unichem’s India, Nepal businesses for Rs 3,600 crore

Torrent's fifth acquisition in India after acquiring the selected brands of Elder and Novartis, as well as manufacturing plants from ZygPharma and Glochem Industries Ltd. in the last four years. Unichem's India business comprises of a portfolio of more than 120 brands in India and Nepal, manufacturing plant at Sikkim catering to these markets and all the employees engaged in the said business.

LIC ups stake in colgate palmolive India to over 7%

Life Insurance Corporation (LIC) of India has acquired 2.021% stake in FMCG( fast moving consumer goods ) firm Colgate Palmolive India through open market purchase, taking the total holding in the company to 7.037%. The Insurance behemoth earlier had 5.016% stake in Colgate Palmolive India,the FMCG company said in a regulatory filing. LIC has acquired additional 54,97,334 shares in the company and now has 1,91,40,291 shares. It earlier had 1,36,42,957 shares in Colgate Palmolive India.

Vedanta profit up 43% in Q2, Revenue up 37%.

Vedanta profit up 43% in Q2. Revenue was 21,590 crore, up 37% from a year before. " Key contracts on our announced oil& gas projects are at advanced stages of being awarded and the next two quarters will see an increased trend of protection from this business" Kulidip kaura, chief executive. Free cash flow of 3,280 crore in the September quarter Gross debt reduced by 11,466 crore to 55,798 crore.

Govt looking to cut stake in public sector banks to 52%, says Jaitley

Government looking to reduce its stake in State-run banks to 52 % to make them more professional and independent.Government owns over 59 per cent stake in SBI, 81.5 per cent in Central Bank of India, 76.5 per cent in IDBI Bank, 64.5 per cent in Canara Bank, 64.4 per cent in Bank of India, 61 per cent in Andhra Bank,60 per cent each in Allahabad Bank and Punjab National Bank, and 57.5 per cent in Bank of Baroda.

SBI extends Rs 2317 crore for 43 solar power projects

The seven companies include Adani Group, JSW Energy, Hinduja Renewables, Tata Renewables Energy, Azure Power. Cleantech Solar and Hero Solar Energy. The bank has outstanding loan of Rs 12000 crore to solar energy projects and bad loans are negligible in this sector. Aggregate capacity of 475 mw by availing a line of credit from World Bank. Rajnish kumar chairman.

Inflation is likely to increase for the coming months

Policy changes and rising prices of crude oil and certain raw materials are likely to push up consumer prices next month. Prices of ACs, fridge, washing machine, air fare, food and fuel may go up in November. Airlines are looking at 10-15% hike due to sharp increase in aviation turbine fuel (ATF) prices every month since August. The price of steel has since increased by 40% and that of...

Vodafone launches Rs 177 and Rs 496 offers for new customers to counter Jio

Customers who join Vodafone will get unlimited local & STD calls, free national roaming (outgoing & incoming) and 1GB data per day for the first recharge of Rs 496 for 84 days. In another offer, a new customer will get unlimited local & STD calls and 1GB data for 28 days for Rs 177. Vodafone has announced a short-duration plan that offers unlimited calling and 500 MB data at about Rs 69 with 7 days of validity.

India becomes Honda’s No.1 market in Asia Oceania region

India has become the largest market in terms of retail sales for Japanese auto major Honda in the Asia Oceania region in the first half of this fiscal."We have grown 22 per cent in the first half of this fiscal and in terms of volumes (retail sales) we have become the number one market for Honda in Asia Oceania region," Honda Cars India Ltd (HCIL) President and CEO Yoichiro...

Bank recapitalisation plan to push GDP growth to 7% in FY19: Report

Recapitalisation plan for public sector banks to increase credit growth to 15 per cent and GDP numbers to 7 per cent in the next fiscal, says a report. "We expect 15 per cent EPS growth for Sensex target of 32,300 " it added. Growth at banking system was estimated to be 8 per cent in 2018-19.Credit system is expected to grow to 12-15 per cent during the time period under review.

Jaguar-Land Rover (JLR) expects 4,500-unit volume-mark this fiscal year and increase market share to around 14 per cent.

It had already sold 2,942 units in the first nine months of 2017 and expects to touch its target. Last year with a volume of under 2,500 units, we had 8-9 per cent of the market pie told Suri JLR Managing director.The 34,000 units per annum in 2016 luxury car market was dominated by the German trio Mercedes-Benz, BMW and Audi, respectively -- and JLR comes at a distant fourth slot.

Mutual funds growing at rate of 15 per cent: Kotak Mutual Fund

“Mutual funds are growing at a rate of 15 per cent annually in the country,” KMF National Head. The Systematic Investment Plan (SIP) is gaining immense popularity among investors. SIP has been a key focus area at KMF. Our SIP books have grown almost 10 times in the last three years. “Indian mutual fund industry is in a growth phase with investors willing to test equity mutual funds. The Systematic Investment Plan (SIP) is gaining immense popularity among investors as an efficient tool for regular and disciplined investments. With SIP, one need not worry about market volatility or timing of market,” he said.

Dilip Buildcon to sell road assets to Shrem for ₹1,600 crore

Dilip Buildcon Ltd, a Bhopal-based road developer, has announced the sale of 24 road assets of a total project value of ₹10,500 crore to the Chhatwal Group.The deal, which could emerge as one of the largest in the sector, is estimated at ₹1,600 crore.The road developer has invested a total of ₹682 crore (both in equity and debt) while ₹841.6 crore is yet to be invested.