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Thu, May 03 2018. 03 39 PM IST
Hero MotoCorp Ltd, India’s largest two-wheeler maker, said fiscal-fourth quarter profit rose 34.7%, led by a jump in sales of cheaper motorcycles as rural demand revived after two consecutive years of near-normal monsoon. Net profit rose to Rs967.4 crore from Rs717.75 crore in the year earlier, the company said on May 2. The surge in sales was also because of a low base in the year-earlier quarter because of the lingering effects of demonetization. Net sales of the company jumped by 23.7% to Rs8,564.04 crore
Mon, Apr 30 2018. 12 02 PM IST
Maruti Suzuki India (MSI), which currently has a network of around 2,625 dealerships across the country, is also aiming for a double digit growth in the current fiscal. The company added around 350 sales outlets in 2017-18. The company would add outlets under its various retail channels like Nexa and Arena, besides enhancing the network for Super Carry. The company sold over 10,000 units of its LCV Super Carry from over 100 outlets last year. The company sold a total of 16,53,500 units in 2017-18, a growth of 14.5% over 2016-17
Mon, Apr 30 2018. 11 59 AM IST
Australia pledged half a billion dollars to restore and protect the Great Barrier Reef Sunday in what it said would be a gamechanger for the embattled natural wonder. The World Heritage-listed site is currently Under threat from coral bleaching, pollution and climate change. With its heavy use of coal-fired power and relatively small population, Australia is considered one of the world’s worst per-capita greenhouse gas polluters. Canberra has previously committed more than Aus$2.0 billion to protect the site over the next decade, but has been criticised for backing a huge coal project by Indian mining giant Adani nearby.
Sun, Apr 29 2018. 02 03 PM IST
Leisang became the last remaining village to be now brought on the national power grid. With a population of 65, Leisang falls under Senapati district of Manipur. According to the government data, all of India’s 597464 census villages are now electrified. The government had allocated at its onset Rs75893 crore under the Deen Dayal Upadhyaya Gram Jyoti Yojana
Thu, Apr 26 2018. 05 54 PM IST
Facebook profit in the first quarter of 2018 jumped 63% from a year ago to $5 billion, and total revenues increase 49% to $11.97 billion. The number of Facebook users monthly climbed 13% from last year to 2.2 billion as of end of March, despite concerns that users would abandon the network. Facebook strong earnings report comes as it grapples with a data privacy scandal that strikes at how the huge social network makes money from what it knows about people.
Wed, Apr 25 2018. 08 12 PM IST
After overtaking Samsung as the market leader in India in Q4 2017, Xiaomi consolidated the lead with 31.1% of the smartphone market share in Q1 2018, according to the latest report by Counterpoint Research, a Hong Kong based research firm Xiaomi’s market share in the previous quarter was 25%. The report attributes Xiaomi’s success to a series of new smartphone launches in the budget segment.Chinese companies continue to dominate India’s smartphone market while the top five players now control 70% of the market share.
Wed, Apr 25 2018. 06 26 PM IST
Flipkart’s key shareholders are keen to continue negotiations with Amazon until a deal is finalized with either of the two firms. A deal between Walmart and Flipkart is more likely because a potential alliance between Amazon and Flipkart would almost certainly attract the attention of India’s anti-trust regulator. Walmart is in advanced talks to buy more than 55% of Flipkart through a mix of primary and secondary share purchases. While the primary transaction is estimated to value Flipkart at $20-21 billion, the secondary share deal could happen at a price that is 20-25% lower.
Wed, Apr 25 2018. 04 04 PM IST
On 24 April, Maharashtra CM Devendra Fadnavis stamped his approval on the Development Plan (DP)-2034 report. Set within the framework of the Maharashtra Regional Town Planning Act (MRTP). It paves the way for Mumbai to have more land available to build homes and commercial spaces. DP 2034 proposes to unlock about 3,734 hectares of public and privately owned lands
Wed, Apr 25 2018. 03 56 PM IST
Barc India’s out-of-home or OOH measurement is a pre-subscribed service and Star India is the first network to subscribe to it for the ongoing Indian Premiere League. The opening week of IPL witnessed 125.1 million impressions from the urban market and 88.8 million from rural India
Mon, Apr 23 2018. 09 00 PM IST
Tata Consultancy Services Ltd (TCS) crosses the Rs10,000 crore market capitalisation milestone. It has overtaken Accenture Plc. which has a market cap of Rs9,820 crore. TCS now ranks 97th in the world’s 100 most valued organisations. The company’s shares rose 2.65% on Monday to Rs3,496. The IT giant’s dollar revenue increased 3.9% to Rs497 crore billion in the quarter. TCS has increased its target price to Rs2,950 from Rs2,550 earlier. It expects revenue growth to accelerate from 6.7% in fiscal 2018 to 9.9% in FY19.