Company News

Brokerage houses raise doubts on N. Murthy’s turnaround plan for Infosys

Brokerage houses raise doubts on N. Murthy’s turnaround plan for Infosys

Some brokerage firms have raised doubts on N. R. Narayana Murthy's turnaround plan for Infosys, as top-level management exits at the software services provider continues.

The most-recent exit was of Infosys' Americas head & global manufacturing chief Askok Vemuri, who was widely considered a successor to the company's CEO S. D. Shibulal, whose term is slated to come to an end in 2015.

Vemuri's resignation followed the exits of Sudhir Chaturvedi - ex-head of banking & financial services in the U. S., and Basab Pradhan - former global head of sales & marketing.

UltraTech to buy controlling stake in Jaypee Cement facility for Rs 4K crore

UltraTech to buy controlling stake in Jaypee Cement facility for Rs 4K crore

India's largest cement maker Aditya Birla Group is very close to concluding a deal to acquire a controlling stake in Jaiprakash Associates' 5 mtpa Gujarat facility.

People familiar with the deal revealed that Aditya Birla Group's flagship firm UltraTech Cement will buy 51 per cent stake in the Gujarat facility from Jaypee Cement Corp's for around Rs 4,000 crore.

CCI asks ministries to clear decks for infrastructure projects

CCI asks ministries to clear decks for infrastructure projects

The Cabinet Committee on Investment (CII) on Monday directed ministries concerned to clear nearly 36 infrastructure projects within the next 60 days, sources revealed.

A number of mega infrastructure projects, including 18 power plant projects, have long been stuck due to various issues. While the biggest stumbling block in the clearance of the power project is delay in the signing of fuel supply agreements (FSAs), the remaining projects worth nearly Rs 92,000 crore have been stuck because of reasons like delays in required clearances from various ministries.

Nokia may exit India

Nokia may exit India

Finnish handset maker Nokia has cautioned that it could exit India and start exporting products from India has become the "least favourable" market for it.

In a letter written to the Ministry of Commerce & Industry, Nokia also said that the political risk of operating in the Indian market might impact its future investment decisions.

In the hard-worded letter dated June 19, 2013, Nokia said, "India has suddenly become the least favourable market."

Coca-Cola India announces significant management changes

Coca-Cola India announces significant management changes

American beverages giant Coca-Cola on Friday announced an organizational rejig at its India arm in a bid to bring about greater synergies between its management and bottling partners.

Coca-Cola India said that Debabrata Mukherjee, the current vice president of its strategy & still beverages, would now become vice president of marketing & commercial operations.

Mr. Mukherjee who has been serving Coca-Cola since 1998, was the chief of marketing Coca-Cola Korea before returning to India in 2011.

Coca-Cola to invest $5bn in India in next 7 years

Coca-Cola to invest $5bn in India in next 7 years

U. S.-based beverages giant Coca-Cola has reiterated its plans to plans to invest $5 billion in India by the year 2020, even as the Asian country is suffering its worst economic downturn in more than a decade.

Ahmet C Bozer, president of Coca-Cola International, on Thursday said that the company's investment plans were on track as previously planned.

RIL makes new deepwater gas discovery

RIL makes new deepwater gas discovery

Stock in Reliance Industries Ltd (RIL) gained nearly 2 per cent to hit nearly Rs 810 a piece in the early morning trade on Friday, thanks to the announcement of a new gas discovery.

Energy conglomerate RIL and its British partner BP Plc announced that they made a new gas condensate discovery in the deepwater block CY-DWN-2001/2 (CYD5), nearly 62 km from the coast in the Cauvery Basin off the east coast of India.

In a statement to the Bombay Stock Exchange (BSE), the energy conglomerate said, "RIL-BP Announce New Deepwater Gas Condensate Discovery in Cauvery Basin."

Nissan India unveils compact SUV Terrano

Nissan India unveils compact SUV Terrano

The Indian arm of Japanese carmaker Nissan on Tuesday unveiled a compact sports utility vehicle (SUV), dubbed Terrano, which aims to take on rivals like the Ford EcoSport and the Renault Duster.

Priced below Rs10 lakh, the Terrano is Nissan Motor India's latest effort to grow its Indian market share by taking advantage of growing demand for compact SUVs.

The car manufacturer aims to grab a market share of 10 per cent by the year of 2016, up from 1.8 per cent from the financial year of 2012-13.

SAIL opens country's largest blast furnace

SAIL opens country's largest blast furnace

State-run, Steel Authority of India (SAIL) has said that it has opened the country’s largest blast furnace at its Rourkela Steel Plant (RSP).

“With the start of the new state-of-the-art furnace, hot metal capacity at RSP will increase to 4.5 million tonnes per annum (MTPA) from its present capacity of 2 MTPA,” SAIL said in a statement.

Cadbury to build new manufacturing facility in India

Cadbury to build new manufacturing facility in India

Cadbury India Ltd, a subsidiary of global snacks producer Mondelez International Inc., on Wednesday revealed its plans to build a manufacturing facility in the southern state of Andhra Pradesh.

The maker of the Dairy Milk chocolate and Bournvita said it had signed a deal to take 134 acres of land in Sri City on lease for the planned multi-category food manufacturing facility.