Reliance Communications Ltd reported a larger-than-expected 60 percent drop in quarterly profit, dragged down by the cost of its debt.
The government will allow telecom firms to borrow from overseas markets for buying second generation (2G) spectrum when auctions come up next week, economic affairs secretary Arvind Mayaram said Thursday.
Private equity firm Actis has joined the race to buy Cinemax India Ltd, a multiplex chain put up for sale by its promoters, expecting a valuation of close to 7 billion rupees, including a debt of 1 billion rupees, said a source close to the development.
Aditya Birla Nuvo's July-September net profit rose 42 percent to 3.04 billion rupees from a year ago.
U.S.-based Knoll has entered into a dealership and brand-licensing agreement with Godrej Interio, a unit of the Jamshed-Godrej-promoted Godrej & Boyce, to manufacture and market its home and office furniture.
Apollo Tyres is incurring a production loss of up to 50 million rupees per day at its Vadodara plant in Gujarat due to the ongoing labour unrest, which the firm hopes to end soon in the next few days, Apollo Tyres Chairman Onkar S Kanwar said.
Tata Motors may soon launch its mini commercial vehicle 'Ace' and passenger variant 'Magic' in South African, Asean and the Middle Eastern markets, Tata Motors Executive Director of its Commercial Vehicles Business Ravi Pisharody said.
Ashok Leyland's July-September net profit fell 7.1 percent to 1.43 billion rupees from a year ago.
Shipping Corp of India swung to a July-September net profit of 2.97 billion rupees from a loss of 1.41 billion rupees a year ago.
GTL Infrastructure completed the restructuring its foreign currency convertible bonds worth $300 million.