Reliance Communications (RCom) said on Tuesday that it deactivated the accounts of 10 million low-revenue earning and unprofitable subscribers. RCom said it deactivated subscribers who have not used their phones for more than two months, and are the lowest end of the range of average revenue per user (ARPU). With this, the company is now the fourth largest telecom operator in terms of subscribers after Bharti Airtel, Vodafone India and Idea Cellular.
TCS chosen by Zions for banking transformation
Tata Consultancy Services (TCS) has been chosen by Zions Bancorporation, a financial services company, for its core banking transformation through TCS BaNCS. The program will help Zions achieve standardisation, centralisation and straight through processing across the enterprise. In addition to the cost saving benefits, the ability to have a single, 360 degree view of its end-user customers is a key focus of the core replacement program.
Hindustan Motors domestic sales dip 20.8% in October
C K Birla flagship company Hindustan Motors has reported a 20.8% decline in its domestic sales during October 2013. The Kolkata-based company had sold 330 units in the domestic market in October 2013, down by 20.8%, from 417 units sold during the same period of the previous year, Hindustan Motors said in a statement. The company said the majority of the sales in October 2013 were contributed from its highly popular Ambassador, of which 176 units were sold as against 278 units in October 2012. Besides, sales of its premium SUV Mitsubishi Pajero Sport grew to 154 units in October 2013 as against 119 units.
TIL 2nd quarter net loss widens to R7.8 crore
TIL reported a consolidated net loss of R7.79 crore for the quarter ended September 30, 2013. The company had reported a net loss of R4.09 crore during the same period a year ago. During the quarter under review the company?s net sales increased to R317.47 crore from R274.11 crore during the corresponding period last fiscal. The total income of the company, formerly Tractors India, stood at R329.79 crore during the second quarter of FY14 compared to R284.98 crore during the same period of FY13.
?Mall vacancy levels fall to 14.5% in Jul-Sept qtr?
The vacancy levels in malls have come down to 14.51% in the July-September quarter mainly due to a decline in supply of new mall space, a recent report said. According to a survey by Cushman & Wakefield, the vacancy levels declined by 0.6% to 14.51% compared to 17.51% in Q2 2012. Cities like Pune, Bangalore, Chennai, Ahmedabad and Kolkata witnessed a significant decline in mall vacancy levels, while a marginal rise in mall vacancy was recorded in Mumbai and NCR.
A clarification
The interview of Honda Motor global chairman Fumihiko Ike published on September 12, 2013, incorrectly mentions in its introduction that ?Honda has bought out its local partner ? the Munjals-led Hero Group?. It should have read: ?Honda, in 2011, sold its stake (26%) in erstwhile Hero Honda to the Hero Group, thereby exiting the joint venture in order to focus on its wholly-owned two-wheeler arm, Honda Motorcycle and Scooter India.? The error is regretted.
