India’s gold demands surge 27 percent in January-March

New Delhi, May 18  Demands for gold in India surged 27 percent to 256.5 tonnes in January-March 2013 even though the global demands dropped by 13 percent, the World Gold Council said. Addressing the media, World Gold Council India managing director...

Mercedes launches new GL Class luxury SUV

New Delhi, May 17  German automobile major Mercedes-Benz launched an all-new luxury SUV (Sports Utility Vehicles) at Rs.77.5 lakh (ex-showroom, Delhi). Unveiled by Tennis star Boris Becker, the GL class car named ‘Launch Edition’ has at present...

Bajaj Auto’s fiscal sales up one percent

New Delhi, May 17  Two- and three-wheeler manufacturer Bajaj Auto reported a marginal increase of one percent in net profit for 2012-13. The net profit stood at Rs.3,044 crore from Rs.3,004 crore in the fiscal year 2012-13. The company reported a three...

GSM subscribers up by 3.51 million

New Delhi, May 16  The total number of GSM subscribers in April 2013 stood at 664.45 million, up by 3.51 million, according to data released by Cellular Operators Association of India (COAI). Bharti Airtel clinched the top position with 188.80 million...

Google signs MoU to train engineering students in Andhra Pradesh

Hyderabad, May 15  Google India Private Limited signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to train engineering students of Jawahar Knowledge Centres (JKC) in latest technologies like mobile and cloud computing. Google...

India’s Exim Bank helps build African capacities

Accra, May 13  The Indian government, through the Exim Bank of India, is assisting several African countries in building their physical and social infrastructure that is worth an estimated $260 million. The projects include roads, water and agricultural...

Reliance Communications profits rise 300 percent in 2012-13

New Delhi, May 11  Reliance Communications said its net profit surged almost 300 percent to Rs.624 crore in fiscal 2012-13. The company posted a net profit of Rs.624 crore for the year ended March 31, 2013 as compared to Rs.156 crore for the year ended...

Government to set up inter-ministerial panel on aviation hubs

New Delhi, May 10 The government Friday said the inter-ministerial group (IMG) on avitation will suggest various measures to overcome bottlenecks in the development of aviation hubs at various airports in the country. According to civil aviation ministry,...

Fiscal 2012-13 industrial output growth worst in 20 years

New Delhi, May 10 India’s industrial output registered a sluggish 1 percent growth in 2012-13, the worst performance in more than two decades, due to poor show by the manufacturing and mining sectors, government data showed Friday. The factory output,...

Jet Airways to reduce free baggage allowance

Mumbai, May 10  Airline major Jet Airways Thursday said it will lower the free baggage allowance from 20 to 15 kg on economy class of all its domestic flights from May 15, while cabin baggage will be restricted to seven kg. “A flat rate of Rs.250...

RIL to invest $5 bn to reverse KG-D6 gas output fall

Mumbai, May 9 The Reliance Industries (RIL)-led consortium operating the offshore KG-D6 gas fields plans to serially invest $5 billion to reverse falling output. “We are planning to invest in a series of projects to develop around four trillion...

SKS Microfinance posts Rs.2.70 crore profit for Q4

Hyderabad, May 9  SKS Microfinance Limited, India’s only listed micro lender, has posted Rs.2.70 crore net profit for the fourth quarter that ended March 31. The company had clocked Rs.1.2 crore net profit during the previous quarter, when it achieved...

Wipro invests $30 million in US data firm

Bangalore, May 8  IT bellwether Wipro invested $30 million (Rs.162 crore) for a strategic equity stake in Opera Solutions LLC, a leading privately held US-based big data science firm. “This strategic partnership with Opera will help us extend leadership...

Infosys partners with SAP for mobile applications

Bangalore, May 8  IT bellwether Infosys Ltd has entered into partnership with enterprise software major SAP (Systems Applications & Products) to develop future versions of mobile applications for the retail sector. “The new mobile applications...

Reliance Communications hikes mobile call rates by at least 20 percent

New Delhi, May 7  Reliance Communications Monday raised mobile call rates by 20-30 percent across India, a company statement said. “We have now corrected all commitment plans across the country and have increased tariffs by between 20 percent and 30...

SEBI approves Start-up Village Angel Fund

Kochi, May 7  Market regulator SEBI has approved an angel fund of $10 million to address the problem of resource crunch for start-up companies across the country. The fund that could go up to $20 million with a “green shoe” (over-allotment)...

Tanishq to invest Rs.1,000 crore to expand retail network

Kolkata, May 6  India’s largest jewellery retail chain Tanishq, part of Titan Industries, said it will invest more than Rs.1,000 crore this fiscal in opening new stores across the country. “Our focus is on higher penetration. We want to reach...

Murugappa group plans Rs.450 crore capex

Chennai, May 6  Industrial conglomerate $4.17 billion Murugappa group, while consolidating its acquisitions of last year, will invest around Rs.450 crore to complete on-going expansion plans, a top group official said. The group plans expansion of 20...

HIL will continue to grow at 15 percent

Hyderabad, May3  HIL Limited, a flagship company of the C.K. Birla Group of companies, will continue to grow at 15 percent with strong focus on green building products, managing director Abhaya Shankar said. HIL, formerly Hyderabad Industries Limited,...

Cairn setting up centre of excellence in Jodhpur

Jaipur, May 2  Cairn India is setting up a centre of excellence in Jodhpur that will provide world class training for upgrading skills of people engaged in the oil and gas industry. Cairn has signed a contract with TUV Rheinland of Germany, which is...