Business, Companies, 28th May 2018, News & Stories from India

Friday, Apr 26, 2024 | Last Update : 10:46 AM IST

Business Companies 28 May 2018

Business, Companies, 28 May 2018

Telecom operator Idea Cellular on Monday said it has rolled out 4G VoLTE service in 15 telecom circles covering all the district headquarters in the respective areas.

Idea completes 4G VoLTE roll out in 15 of 22 telecom circles

Overall, Idea has the second largest presence of VoLTE-based calling service after Reliance Jio.

28 May 2018 8:22 PM

BSNL is upgrading telephone exchanges in Rajasthan to make landlines work like smartphones.

BSNL upgrading landline in Rajasthan for chatting, video calls

Calls on landline can now also be received on mobile handsets.

28 May 2018 8:14 PM

US-based ride hailing platform Uber on Monday said it is working with various government agencies to offer its 'Movement' tool in India to offer traffic-related insights for cities like Delhi, Mumbai and Bengaluru. (Photo: AP)

Uber shares data-driven insight on traffic patterns

The company aims to continue playing a key role in solving urban mobility challenges.

28 May 2018 8:06 PM

Icra on Monday lowered credit ratings on Jet Airways' short-term and long-term loan facilities citing weakened financial performance as the airline is unable to pass on rise in jet fuel prices to the customers.

Icra lowers ratings on Jet Airways' loan facilities

Continued support from Etihad Airways is fundamental towards turning Jet Airways around and improving its liquidity profile.

28 May 2018 5:36 PM

Vedanta Ltd on Monday asked the National Company Law Appellate Tribunal (NCLAT) to vacate its order for maintaining status quo over the sale of debt ridden Electrosteel Steel.

Vedanta asks NCLAT to lift stay over Electrosteel sale status quo

Renaissance has submitted before NCLAT that Vedanta is not eligible to bid for Electrosteel under section 29 A.

28 May 2018 5:25 PM

Traders body CAIT on Monday said it has approached the Competition Commission of India (CCI) against the Walmart-Flipkart deal, stating that it will create unfair competition and an uneven level playing field for domestic players. (Photo: AFP)

CAIT files petition in CCI against Walmart-Flipkart deal

CAIT said the deal would deny market access to non-preferred sellers and impact small traders on offline platform.

28 May 2018 5:09 PM

The board of directors recommended a final dividend of 2.39 per equity share (value Rs 10 each).

NTPC Q4 net profit jumps 41 per cent to Rs 2,926 crore

For the entire 2017-18 fiscal, its consolidated net profit came in at Rs 10,501.50 crore.

28 May 2018 4:06 PM

ONGC plans to hire a consultant shortly to revamp its integrated reporting system to strengthen its corporate governance policy.

ONGC mulls new reporting standard to improve credit rating

ONGC, India's top oil and gas producer, will be the first public sector company to adopt reporting standards.

28 May 2018 4:02 PM

The NCLAT will hear on Tuesday the plea of Reliance Communications which has challenged NCLT's decision to start insolvency proceedings against it on a petition by Swedish telecom equipment major Ericsson. (Photo: PTI)

RCom plea against insolvency to be heard by NCLAT on Tuesday

Ericsson had alleged that it had not been paid the dues.

28 May 2018 1:52 PM

Softbank has announced its decision to sell 21 per cent stake in Flipkart to Walmart as part of USD 16 billion deal.

IT department await final print of Flipkart deal

Walmart had said earlier this month said that it would take control of Flipkart.

28 May 2018 1:23 PM

In the 150th year of its existence, Tata group is creating new milestones one after the other.

Market capitalisation of Tata group crosses Rs 10 lakh crore

On April 23, TCS entered the coveted USD 100 billion market cap club.

28 May 2018 1:15 PM

Fortis Healthcare on Monday said the Munjals-Burmans combine, whose bid for investing Rs 1,800 crore was approved by its board, have consented to re-opening the bidding process.

Munjals-Burmans combine give consent to re-open Fortis bidding process

Fortis Healthcare said it has received a letter from Hero Enterprise Investment Office and Burman family Officer.

28 May 2018 1:04 PM

Reliance Entertainment on Monday said it formed a 50:50 joint venture with one of India's most celebrated filmmaker, Imtiaz Ali.

Reliance Entertainment teams up with Imtiaz Ali to make movies

Window Seat Films, LLP, is Reliance Entertainment's fifth creative partnership with leading Indian filmmakers.

28 May 2018 12:52 PM

Indian start-ups have potential to be world-class organisations: Rishad Premji

Indian technology and services industry is on track to reach its goal of USD 200-225 billion in revenues by 2020.

28 May 2018 11:54 AM

As per the existing proc¬ess of law under the PMLA, ED could only confiscate the assets once the trial in a case finishes. (Photo: Facebook screengrab)

ED to seek immediate seizure of Nirav’s Rs 7,000 cr assets

Agency is likely to seek special court’s permission to invoke provisions of the Fugitive Economic Offenders Ordinance.

28 May 2018 9:25 AM

The deal has got a nod from eight of the nine required global regulators.

Qualcomm to meet China regulators in push to clear $44 bn NXP deal

The company in April was forced to refile its China anti-trust application to clear the NXP deal.

28 May 2018 8:35 AM

Around 250,000 tonnes of the output is consumed locally, making up for 36 percent of India’s demand.

Vedanta sticks with plan to expand Indian smelter despite deadly protests

Vedanta wants to double the smelter’s capacity mainly to meet India’s rising copper demand.

28 May 2018 8:33 AM

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Sunil Gatade