Page 1704 - Business Finance
Realme steps up global expansion, eyes Middle East, northern Africa markets
Realme, which spun off as an independent entity from Chinese smartphone major OPPO, said Wednesday it will expand its operations to the Middle East, northern Africa as well as markets like Sri Lanka, Nepal and Bangladesh over the next few months. The company, which started operations in India a few months ago, is also strengthening its portfolio in the country with launch of new products like power banks and audio accessories. "We have been in India for a few months and received strong response for our products. The focus continues to be on growing the brand and ensuring that consumers consider our phones when making a purchase - given that there is intense market competition," Realme India CEO Madhav Sheth said. He added that the company intends to provide "premium sense to devices below Rs 20,000". Sheth said Realme has been growing its presence in South East Asian region and over the course of next few months, it will expand to Sri Lanka, Nepal and Bangladesh as well as the Middle .
Uniphore Software Systems hosted conversational AI Leadership Summit 2018
Uniphore Software Systems, a global conversational AI company, organised its first ever flagship event 'Conversational AI Leadership Summit 2018' recently in New Delhi. First of its kind in the country, the summit had industry leaders, CEOs and technology journalists under the same roof engaging actively in conversations about AI, machine learning and speech recognition technology.The industry captains spoke about how enterprises are leveraging disruptive technologies in delivering superior Customer Service and developing a seamless customer experience system for the enterprises to bank on.Speaking during the fireside chat, Umesh Sachdev, Co-founder and CEO, Uniphore Software Systems, said "We are beginning to see enterprises realise voice is the next interface. As the leaders in the space of conversational AI, we are thinking about what is going to be the best adaptation of this across different markets and user groups.Five years from now, we want to completely disrupt and dominate ..
Wipro Lighting inks tieup with Schreder
Wipro Lighting, a business of Wipro Consumer Care and Lighting, has signed a premium partnership agreement with Schreder, a leading global lighting solutions company. Under the agreement, Wipro Lighting can market Schrder Lighting products and solutions in India, Wipro Lighting Vice President and Business Head Anuj Dhir told reporters here. "The aim of our partnership with Schreder is to bring their patented technology and products like smart streetlights and smart poles and expertise to empower smart cities in India and address the premium lighting requirements of an urban India," he said. "This is one more offering on our Internet of Lighting (IoL) platform and we are confident that this will help derive the best outcomes and make cities safe and smart," he added. As a premium partner, Wipro Lighting would market smartcity products and beyond lighting solutions along with Wipro brand portfolio, Dhir said. The partnership would allow Schreder to offer world's most ...
Nifty November 2018 futures at discount
Reliance Industries, Yes Bank, ICICI Bank most active futures contracts
Hero Electric looks at exporting two-wheelers from next year
Hero Electric mulls two-wheeler exports from next year to various regions including countries in Asia and Africa, a top company official Wednesday said. In the domestic market, the company aims to double its sales in the current fiscal. It had sold around 30,000 electric two- wheelers in the previous fiscal. Although our primary focus remains domestic market, we will start some exports to some Asian and African countries from next year, Hero Electric Managing Director Naveen Munjal told PTI. The quantum of overseas shipments would remain small as compared to domestic market where it aims to sell over one lakh units by 2020-21, he added. We aim to double our sales this fiscal and again next fiscal. We are looking at sales of over 1 lakh units per annum by 2020-21, Munjal said. He said that the company's sales network is also likely to double to nearly 900 dealerships from the current 450 by that period. Munjal added that the company will augment production capacity at its Ludhiana ...
IKEA Group profit falls as invests in online and city: centre stores
STOCKHOLM (Reuters) - IKEA Group said on Wednesday large investments in improving its online offering, delivery services and in opening new smaller city centre stores to meet changing shopping habits pulled its full-year profits down 26 percent.
Petrol prices lowest in FY 2018-19
Petrol prices on Wednesday touched the lowest level in the ongoing financial year across the four metro cities -- Chennai, Delhi, Kolkata, and Mumbai.
Over 50 Indian cos eye expanding operations to RAKEZ in UAE
Over 50 Indian companies including DCM Shriram and LT Foods have shown interest in expanding their operations to Ras Al Khaimah Economic Zone (RAKEZ) in the UAE. RAKEZ is one of the seven emirates that comprise the United Arab Emirates (UAE) and one of the 45 free economic zones in the Gulf nation. "More than 50 high-profile Indian business leaders have discovered the advantages of expanding their operations to Ras Al Khaimah Economic Zone (RAKEZ)," according to a statement issued by RAKEZ at a press conference here. In this regard, several meetings are lined up with companies like DCM Shriram, MSN Lab and LT Foods, it said. Addressing the media, Ramy Jallad, group chief executive officer, RAKEZ, said, "India is very important for us. The bilateral ties between India and the UAE are excellent and out of the over 14,000 multinational companies present at RAKEZ, 22 per cent are Indian. We are looking for more from India and other countries." Ashok Leyland, Dabur and GK Technologies are .
Bhushan Steel is Tata Steel BSL Ltd now
Bhushan Steel has been renamed as Tata Steel BSL Ltd following an approval from the Centre for the change in its name, the steel maker said. "Bhushan Steel Ltd has received approval from the Central Government for change in name to Tata Steel BSL Ltd on November 27, 2018, and a 'certificate of incorporation pursuant to change of name' ... has been issued by the office of the registrar of companies, New Delhi in this regard," the company said in a filing to BSE. Bamnipal Steel Ltd (BNPL), a wholly-owned subsidiary of Tata Steel, had in May completed the acquisition of controlling stake of 72.65 per cent in Bhushan Steel Ltd (BSL). Earlier, Tata Steel had won the bid to acquire debt-laden Bhushan Steel in an insolvency auction. The bankrupt firm was among the 12 stressed assets referred to the National Company Law Tribunal (NCLT) proceedings by the RBI last year.
Yes Bank shares dive nearly 12%, m-cap plunges Rs 4,909 cr on ratings downgrade
Shares of Yes Bank slumped nearly 12 per cent Wednesday after Moody's Investors Service downgraded the company's ratings to non-investment grade and changed outlook to negative from stable. The stock fell sharply by 11.71 per cent to end at Rs 161.70 on the BSE. During the day, it dived 12.55 per cent to Rs 160.15, its 52-week low. On the NSE, shares of the company plunged 11.30 per cent to close at Rs 162. The stock was the worst hit among the blue chips on both the key indices during the day. The company's market valuation dropped by Rs 4,909.72 crore to Rs 37,384.28 crore on the BSE. In terms of equity volume, 154.99 lakh shares of the company were traded on the BSE and over 14 crore shares changed hands on the NSE during the day. Moody's Investors Service Tuesday downgraded Yes Bank's ratings to non-investment grade and changed outlook to negative from stable on the back of various resignations from the board. The resignations, when seen in conjunction with RBI's September ...
Sensex, Nifty advance for third day in a row
Indian equity indices logged gains for third day in a row led by gains in index pivotals Infosys, TCS and Reliance Industries. IT stocks gained. Realty stocks declined. Positive global cues boosted investors sentiment.
Quick Wrap: Nifty IT Index gains 2.86%
Powered by Capital Market - Live News
TCS acquires U.S. management consulting firm BridgePoint Group
This acquisition augments TCS' financial services and insurance domain knowledge, particularly in the area of US retirement services, where BridgePoint's team of experts currently provide strategic insights and advisory services around growth, business agiity, customer experience and technical transformation.
Deutsche Bank Americas head expected to leave: sources
FRANKFURT (Reuters) - Deutsche Bank's head of the Americas, Tom Patrick, is likely to leave the bank, possibly by the end of the year, two people with knowledge of the matter said on Wednesday.
3-digit engineering exports seems a reality: EEPC India
Indian engineering exports are expected to reach the three-digit level soon, having achieved an all-time high of $76.2 billion in the last fiscal and a 11.3 per cent hike over the first seven months during the current fiscal, an official said on Wednesday.
MMB keen to amend ports policy to attract private investment
Eyeing more private investments in its shipbuilding parks programme, the Maharashtra Maritime Board is mulling amendments to its ports policy of 2016 to increase the lease period to 35 years from the present 10 years. The board is likely to approve the amendment in December, Maharashta Maritime Board (MMB) nautical advisor Captain Harish Khatri said at an event here Wednesday. Under the current Maharashtra Maritime Development Policy, 2016, plots are allotted on a 10 year lease through auctions to develop shipbuilding parks, and it may be extended by another 10 years if required. "We have realised that the private players were reluctant to invest as the lease period was too short. Their concern was they would not be able to make enough profits. So we thought of increasing the lease period to 35 years," he said. Khatri further said the board has already identified certain locations for the shipbuilding parks in the state's coastline of around 720 km. Under the policy, ...
Trai frowns at telcos threatening to snap services despite sufficient pre-paid balance
Trai has directed operators not to immediately disconnect services of customers with "sufficient" pre-paid balance as it took strong note of telcos asking such users to go in for mandatory monthly recharge plan. The telecom regulator came down heavily on the operators after it received complaints from subscribers that they are being sent text messages to "mandatorily" recharge their prepaid accounts in order to continue to avail services. These subscribers rued that the messages are being sent despite their pre-paid accounts having "sufficient balance". "Tariff and plans are under forbearance and we don't generally intervene. But if there is sufficient money in the account and despite that people are being told that the services will be disconnected, it is not correct," Trai Chairman RS Sharma told reporters here. The directive in this regard has gone out to operators on Tuesday, he added. The Telecom Regulatory Authority of India (Trai) met operators earlier this week and is ...
BSE creates new division for listing of startups
To make stock market listing attractive for startups, leading stock exchange BSE has announced the creation of a new division within its SME segment to list new-age companies. The platform will facilitate the listing of companies in sectors like IT, ITeS, bio-technology and life sciences, 3D printing, space technology and e-commerce. Besides, the platform will aid in listing of firms from hi-tech defence, drones, nano technologies, artificial intelligence, big data, virtual reality, e-gaming, robotics, genetic engineering, among other sectors. "In order, to incentivise startup companies...the exchange is pleased to announce the creation of a new sub-segment within the existing SME (small and medium enterprise) segment," BSE said in a circular. Spelling out the criteria for listing on the BSE startup platform, the exchange said the company should be registered as a startup with the Ministry of Micro, Small & Medium Enterprises or Department of Industrial Policy & Promotion. In .
Effectual Services witness consistent growth in past 7 years
Effectual Services, a global player in patent search, analytics and transaction support, announces consistent growth in past 7 years. The company started with 3 people in 2010 has reached to a total strength of 175+ strong currently.The key reason fuelling the consistent growth has been the ambitious expansion plan of the company's management. The company realized that relying on any one market may be detrimental to the growth prospects in a longer run, thus expanded by opening up offices in multiple markets such as, Singapore, Europe and USA, apart from India, following their expansion strategy.In addition to the aggressive expansion plan, the company has been making efforts to hire and retain the best talent in the industry with the help of some of key people in the senior management who been associated with the company for more than 6 years.As next level of the growth, Effectual is now focussed leveraging the existing strong business relationships with clients to focus on tasks ...
Yes Bank slumps after media report on transactions by CEO's investment firms
(Reuters) - Yes Bank Ltd shares fell 11 percent to close at a 20-month low on Wednesday, after a media report said investment vehicles of the lender's chief executive made transactions that could be questioned by investors and regulators.