Future Lifestyle Fashions Ltd (FLFL), part of the Kishore Biyani-led Future Group, has raised Rs 350 crore through issuance of non-convertible debentures series on a private placement basis. “The Committee of Directors… has issued and allotted 3,500 senior, secured listed, rated, redeemable non- convertible debentures series – IV (NCDs) of Rs 10 lakh each at par for cash aggregating Rs 350 Read More

Spread across 12 acres, Piramal Revanta is being built at an investment of Rs1,800 crore. Mumbai: Piramal Realty on Tuesday said it has agreed to buy a 3.2 acre land from Mumbai-based real estate developer Nirmal Lifestyle Ltd for Rs153 crore. The land is located, adjacent to Piramal Revanta—a residential project currently being developed by Piramal Realty at Mulund area in Read More

The iconic Hindustan Motor Ambassador has been sold to the French manufacturer Peugeot for an agreed sum of Rs 80 crore. The C.K. Birla Group, who owns the Hindustan Motors, formalised the deal with the PSA Group for the sale of the Ambassador brand, including the trademarks. The proceeds from the sale will be utilised by Hindustan Motors to clear Read More

Samsung India Electronics on Monday announced expansion of its Noida plant with an investment of INR 1,970 crore, strengthening its commitment to ‘Make in India’ and ‘Make for India’. A memorandum of understanding (MoU) was signed between the company and the state government for setting up a manufacturing unit in Uttar Pradesh. The MoU was signed in the presence of Read More

Volvo Auto India has launched the range-topping Volvo XC90 Excellence PHEV in India at Rs 1.25 crore, ex-showroom, New Delhi. Like the XC90 D5 diesel variant, the XC90 Excellence is imported to India as a completely built unit. The exterior of the Volvo XC90 Excellence looks largely identical to the regular model currently sold, save for chrome-plated B- and C-pillars, Read More

Anil Ambani-led Reliance Communications today agreed to merge its wireless telecom business with smaller rival Aircel to create the country’s 4th-biggest mobile phone operator with asset base of more than Rs 65,000 crore (Rs 650 billion). In the largest consolidation in the country’s telecom sector, RCom and Aircel’s majority owner, Malaysia’s Maxis Communications Berhad (MCB), announced signing of definitive documents Read More

The Bombay high court, on Tuesday, asked Mumbai-based firm SGI Commex, which claims to have won the auction of Vijay Mallya’s luxury jet, to file an affidavit in response to a petition filed by Mumbai International Airport Ltd (MIAL), seeking taxes and hangar charges of Rs 3.95 crore. The aircraft is at present parked at Mumbai Airport and MIAL is Read More

The combined market valuation of eight of the top 10 most valued Indian companies surged by Rs 57,965.56 crore last week amid a positive broader market trend. Barring Infosys and Sun Pharma, the rest of eight companies saw a jump in their market capitalisation (m-cap) for the week ended Friday. The m-cap of HDFC Bank soared Rs 13,030.16 crore to Read More

Reliance Retail, the retail arm of Reliance Industries, on Friday reported a 21.21 per cent increase in its pre-tax profit at Rs 240 crore for the first quarter ended June 30. Reliance Retail had reported a PBDIT (profit before depreciation and income tax) of Rs 198 crore in the same period last fiscal. Reliance Retail’s turnover jumped by 45.80 per Read More

Sultan is a juggernaut which refuses to stop. The Salman Khan, Anushka Sharmafilm has earned a gross of Rs 320 crore at the box office and is still going strong. The net profit of Sultan in India is Rs 229.16 crore at BO and the international figures for the film are yet to come in. Trade analyst Taran Adarsh tweeted Read More