- Mumbai based Hansa Cequity raises Rs. 30 crore from ASK Pravi.
- Sun Pharma asks 18 senior executives of Ranbaxy to leave as an integration plan post merger.
- Arun Kumar appointed as the Director of Finance department for PTC India.
- Himatsingka's proposal to invest Rs. 1325 crore along with seven other projects in Karnataka gets state government's approval.
Source: Economic Times
- SunEdison, world's largest renewable energy development company signs a definitive agreement to acquire Mumbai based Continuum Wind Energy.
- Charles Correa, famed as 'India's greatest Architect' dies at the age of 84 years.
- Khadi sale hikes upto 60% after Prime Minister's appeal to buy khadi as homage to Gandhiji.
- Reliance Industries issue an advisory stating not to drink & drive to its employees.
- Four Top-most Audit Firms shortlisted to help Railways to rationalize its staff strength.
Source: Economic Times
- Petrol price hiked by 64 paise per litre; Diesel price cut by Rs. 1.35 per litre.
- Lafarge, French Cement maker to acquire 14% stake at its Indian Subsidiary for $ 304 million; Indian unit to be its 100% subsidiary.
- Sandeep Singh, senior executive at Toyota Asia-Pacific resigns.
Source: Economic Times
- Dhiraj Relli appointed as the Managing Director & Chief Executive Ofiicer for HDFC Securities.
- Merger of Vedanta Ltd. with Cairn India Ltd. approved by the Board of both entities.
- Five Lakh new debit cards to be issued by India Post over the next month.
- Air India applies for Pre-clearance for US-bound passengers to beat competition.
Source: Economic Times
- Flipkart appoints Ravi Garikipathi as entrepreneur in residence.
- Tata Group launches an e-commerce portal named Mytatastore.com for its employees.
- Ashish Rai quits The Leela to join Westin Mumbai.
- Venture & growth capital firm Sequoia invests Rs. 100 crore in Ahmedabad based Pharmaceutical La Renon Helthcare.
Source: Economic Times
- Snapdeal appoints Anand Chandrasekar as the new product chief.
- AIDS drugs now exempted from custom duty.
- Fares Kilpady, vice president for SpiceJet's revenue management resigns.
- Government denies extension to SAIL chairman; Steel secretary given charge.
- Hindustan Unilever to withdraw 'Knorr' Chinese instant noodles; awaits FSSAI approval.
Source: Economic Times
- DLF enters into a definitive agreement to sell its DT Cinemas to PVR Cinemas for Rs. 500 crore.
- RoomsTonite, the last minute hotel booking app partners with taxi app Uber in India.
- Sanjay Aggrawal, former Kingfisher CEO funds Zen Rooms, a budget hotel booking site .
- Airtel increases the price of data packs for pre-paid customers in Delhi.
Source: Economic Times
- Taco Bells gives its first Indian franchisee to Burman Hospitality.
- Anshu Jain resigns as co-chief executive of Deutsche Bank after struggle with regulatory woes; to be replaced by John Cryan.
- Doordarshan to launch weekly news programme in Sanskrit.
- Bombay Dyeing to sell its last textile manufacturing unit at Ranjangaon on a slump sale basis for Rs. 230 crore.
- Union Home Ministry denies security clearances to Kalanidhi Maran backed Sun TV Network; channels may go off air.
- Rajasthan Government enters into a pact with Essel Group to set up solar parks in the state.
- Pharma majors GlaxosmithKline & Sanofi India face penalties worth Rs. 60 crores and 3 crores respectively for indulging in unfair trade practice.
- Bombay High court bars Mr. Diwan Arun Anand & Mr. M R Srivasanto take charge in Yes Bank as Independent Directors upto June 18.
- Competition Commission closes case against IATA(International Air Transport Association) due to lack of evidence.
Source: Economic Times
- Reliance Retail appoints Mr. Hemant Kumar Ruia as its Chief Financial Officer.
- With major controversy regarding health concerns over Nestle Maggi noodles along with a ban on the products in certain areas, production reduced to third & product withdrawn in Indian market for some time by the company.
- Sony to launch Android TV range next week.
- Ginger Hotels appoint Mr. Rahul Pandit to act as their Chief Executive Officer.
- Ministry of Defence lead Mishra Dhatu Nigam Limited, enters into a Research & Development agreement with the research arm of Steel Authority of India Limited(SAIL).
Source: Economic Times
- Airbus consolidates its defence and aerospace business in India naming Pierre de Barsset as its new prsident.
- Star India enters into an production and distribution agreement with Dharma Productions worth Rs. 500 crore.
- KEC International's proposed deal to sell its 381 telecom sites gets CCI (Competition Commission of India) approval.
- India signs a bio-tech pact with UK based Cambridge University.
Source: Economic Times
- V L Rajesh named as food business head for ITC.
- A special investment panel set in Infosys to oversee acquisitions.
- State-owned BHEL (Bharat Heavy Electronics Limited) bags an order worth Rs. 18,000 crore in Telangana to set up a 400 MV plant.
- Telecom minister Ravi Shankar Prasad announces free national roaming calls by BSNL from June 15 onwards.
Source: Economic Times
- Vinayak Bahugana appointed as the MD & CEO for India's largest Asset Reconstruction Company Arcil (Asset Reconstruction Company of India).
- P K Mukherjee, a former Vedanta executive director hired by Essar Group.
- Pawan Munjal to be the chairman for Hero Motorcorps after his father Brijmohan Lall Munjal steps down.
- Emaar MGF's owner Shravan Gupta discloses an undeclared income worth Rs. 31 crore to ITSC (Income Tax Settlement Commission);seeks immunity over penalty.
- Wolfgang Prock Shauer appointed as the new CEO for GoAir.
- Revised rate of Service Tax effective from today; to be charged at 14% instead of 12.36%.
- Amul Milk prices hiked by Rs. 2 per litre in certain parts of Gujarat.
- Yoga sessions introduced by Air India as a part of their new training structure.
- Separate business unit to focus on Africa set by Mahindra & Mahindra.
Source: Economic Times
- Adani Group's Carmichael coal project in Australia faces legal challenges from aboriginal landowners of the said land.
- Veena Jain posted as the Director General(News) of Doordarshan.
- Railways' IT department to be headed as Ex-NASSCOM chief Som Mittal.
- Workers at Tata Steel's UK unit vote in favour of strike against the change in pension policy.
- Chanda Kochhar of ICICI gets a 12% salary hike.
- FDA serves notice on actress Madhuri Dixit for her claims in Maggi Advertisement.
- Idea Cellular's CEO Himanshu Kapania elected as the chairman of Cellular Operators Association of India (COAI).
- Vodafone's stake in Bharti Airtel sold for Rs. 1280 crore in order to fulfill regulatory requirements.
- Lighting business of Philips India demerged to focus on LED business.
- Pushpanjali Crosslay's 76% stake acquired by Max Healthcare for Rs. 287 crore.
- Airlines asked to reserve 2 window seats for disabled people.
- Future Group hires Manjula Tiwari, Jabong's fashion unit head as a senior executive.
- Ministry of Corporate Affairs issues a notice for inspection of books to United Spirits; also a notice u/s 131 issued by Income Tax Department.
- GAIL (India) sells some of its US LNG to Europe's Royal Dutch Shell.
- Parag Kulkarni named as the Managing Director of AO Smith Corporation for Indian operations.
- Daimler India inaugurates its bus plant near Chennai; to export buses under the brand Mercedes Benz.
Source: Economic Times
- Chinese solar products maker JA Solar Holdings enters into an agreement with Essel Infra projects to set up a 500 MW solar power unit in India.
- UrbanPro, a local online service provider raises Rs. 100 crore from Nirvana Venture.
- Future Group to buy consumer products business of Grasim Industries on a slump sale basis.
- Indian Oil Corporation to infuse Rs. 1000 crore in Chennai Petroleum Corporation Limited for expansion.
- ICICI Bank launches voice password facility for users of phone banking facility.
- Manoj Mishra appointed as the Chairman & Managing Director for state owned National Fertilizers.
- Reliance Retail to borrow Rs. 4500 crore through term loans & debentures to built its e-commerce business.
- Central Board of Secondary Education (CBSE) gets legal notice from Sanskrit Shikshak Sangh (SSS) as private schools shun 3-language formula.
- SpencerStuart's chief executive India Anjali Bansal resigns; to be replaced by an internal successor.
Source: Economic Times
- ArcelorMittal & SAIL (Steel Authority of India Limited) sign a Memorandum of Understanding to set up an automotive steel manufacturing facility in India.
- Cipla enters into a pact to acquire 51% stake in Uganda Quality Chemicals for over USD 30 million.
- Honda Cars announce an investment of Rs. 380 crore to expand its production facility at Rajasthan.
- CCI (Competition Commission of India) orders probe against telecom major Ericson for an alleged abuse of its dominant position.
Source: Economic Times
