Wendt India Q3 net rises 5% to Rs 2.50 cr

Murugappa Group firm Wendt India has registered a marginal increase of 5 per cent at Rs 2.50 crore in its consolidated net profit for the third quarter ended December 31, 2015.
The company had registered a net profit of Rs 2.38 crore during the corresponding quarter of the previous year.
For the nine-month period ending December 31, the company's consolidated net profit registered a marginal decline at Rs 8.60 crore as against Rs 9.12 crore in the year ago period.
Total income from operations for the three-month period grew to Rs 33.11 crore from Rs 29.63 crore registered during same period last year.

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Indosolar bankers not considering debt restructuring * Indosolar today said the company's bankers are not considering debt restructuring proposal.

The company said the lenders are exploring the possibility of sale of its assets or to invoke change in management of the firm.
"Board of Directors of the Company at its meeting held on January 25, 2016, inter alia, has noted, the outcome of the Joint Lenders Meeting and as per said meeting, banks are not considering second restructuring proposal as of now and are exploring the possibility of sale to Asset Restructuring Company (ARC) and/or to invoke change in management," Indosolar Ltd has informed BSE.

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FICCI Terrawatt Initiative inks MoU to promote solar energy * Industry body FICCI and Terrawatt Initiative today signed an MoU for creating global common market of affordable solar power.
"FICCI President, Harshavardhan Neotia and Gerard Mestrallet, Chairman and CEO of Engie, founding member of Terrawatt Initiative, have executed a MoU for a global common market of affordable solar power today, on the sidelines of the visit of French President," FICCI said in a statement.
Terrawatt Initiative is a global non-profit organisation based in Paris which aims at promoting solar energy and having one terrawatt of additional solar power deployment by 2030.

IndusInd Bank partners Lohia Auto for vehicle financing
* Private sector lender IndusInd Bank today signed a pact with diesel three-wheeler maker Lohia Auto Industries for delivering on the finance needs of the motor company's customers.
"This alliance is part of our strategy to continue to be a leading player in the field of three-wheeler financing. We will offer retail finance at an attractive rate of interest to customers," S V Parthasarathy, Head - Consumer Finance, IndusInd said.
Loan facility under the tie-up is available in Madhya Pradesh, Haryana, Bihar, Jharkand, Chhattisgarh, Gujarat, Rajasthan, Odisha and Andhra Pradesh, a bank statement said.

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Nextbit launches smartphone 'Robin' at Rs 19,999 * US-based Nextbit today launched its cloud-first Android smartphone 'Robin' in the country, priced at Rs 19,999, to cash in on the burgeoning smartphone market in India.
The company currently retails its phones through partners in the US, Canada, Japan and Taiwan. Its phones are available in 40 countries.
"India is an important market. The device is targeted at tech enthusiasts and will offer 100 GB cloud storage to users so that they don't run out of space, combined with an elegant design," Nextbit co-founder and CEO Tom Moss said.

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Uber signs pact with Kempegowda International Airport * Taxi aggregatorUber has signed a pact with Kempegowda International Airport to provide people rides who land in the city from the airport.
Through this pact, Uber will be given a dedicated parking area and pick-up zone called 'U Zone' located within the airport premises, the company said in a release.
Stating that the U-Zone has been created to streamline traffic and reduce congestion at the pick up lanes, it said Uber executives will also be at the airport to help passengers find their cars easily and give them access to wi-fi in case they face network issues.

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Kajaria to set up tiles plant worth Rs 150 cr in Nellore in AP * Kajaria Ceramics, a leading wall and floor tiles manufacturers, is setting up a plant near Nellore in Andhra Pradesh for polished vitrified tiles, a top company official said.
The second in Andhra Pradesh to be set up with Rs 150 crore and to be commissioned in September next year, will have an annual production capacity of five million square metres, its Chairman and MD Ashok Kajaria said.
LeEco announces entering Russian market; to invest USD 100 mn
* Chinese firm LeEco today said it will foray into the Russian market and invest about USD 100 million in the market.

"On May 16, 2016, LeEco signed a quadripartite memorandum with Institute of Internet Development (IID), Russian Export Center and JSC Digital Television to export Russian media content to China and other markets and build Le Ecosystem in Russia," LeEco said in a statement.
LeEco will now provide Russian users content through the Internet, smart devices, smart applications and cloud, it added.
"For its foray into the Russian market, LeEco plans to invest over USD 100 million. In 2016, LeEco successfully entered the US and India, making Russia its third overseas market," it said.
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Entertainment App 'Roast' raises funding from IAN * Delhi-based start-up Roast has secured an undisclosed amount of funding from Indian Angel Network (IAN) under the latter's 'Small Ticket Funding programme'.

Sanjay Mehta has led this round of investment on behalf of IAN and will join the company board for further mentoring the team, it said in a statement.
The company plans to utilise the investment for acquiring customers and to invest in its technology platform, it added.
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Jugnoo partners Helpchat to booking auto rides * Auto-rickshaw aggregator, Jugnoo today said it has partnered Helpchat that will allow users to book autos using the latter's platform.
"This association is in absolute alignment to our expansion strategy as it allows us to tap existing users of Helpchat," Jugnoo founder and CEO Samar Singla said.

Set up in 2014, the Chandigarh-based firm has over 10,000 autos empanelled under the brand at present.
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Hotstar,Akamai renew partnership to scale live sports events * Hotstar, a premium video streaming platform, today said it has renewed its partnership with Akamai Technologies to support the former in delivering live sports content.
Live sports in particular has seen a huge surge in viewership on Hotstar, especially as audiences turn to mobile as the primary screen for cricket updates and streaming, the companies said in a statement.
"Since the launch of Hotstar in February 2015, we have seen a 10X increase in online viewership for sporting events.

Wipro launches solution for manufacturing sector
* IT major Wipro today announced the launch ofTotal Customer Centricity (TCC), a Master Data Management solution for the manufacturing sector.
The solution will be powered by the Informatica Master Data Management (MDM) suite of solutions, the company said in a release.
Wipro said TCC will enable global manufacturers to transit from a product-centric to a customer- centric approach.
The solution will allow manufacturers across the globe to capture a comprehensive, single view of each of their customers and products.
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FCB Ulka bags creative duties of mid-day infomedia * Advertising agency FCB Ulka has bagged the creative duties of Jagran Prakashan's mid-day infomedia.

In addition to mid-day, the agency has also been awarded the creative duties for Gujarati mid-day and Inquilab, it said in a statement today.
"FCB Ulka's sound understanding of the media industry and their customised approach would give us that extra edge to take our brands to the next level," mid-day infomedia CEO Sandeep Khosla said.
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Codeathons gain popularity among professionals, employers * Coding contests or codeathons are increasingly gaining popularity among top professionals seeking career growth as well as employers in the tech domain in India.
According to a TechGig Study, codeathons have become a great publicity branding and hiring tool and nearly 40 per cent said they have participated in codeathons at some point in their career.

Nearly 48 per cent employers said that 5-10 per cent participants receive job offers through codeathons while 38 per cent said that on an average, up to 5 per cent participants find new opportunities due to these contests.
"Fair and unbiased evaluation of an individual's skills and talents ensures a truly meritocratic organisation - Codeathons are one of the most effective ways to ascertain expertise and fluency levels among IT professionals irrespective of their rank or seniority," Nilanjan Roy, Head of Strategy, Times Business Solutions said.