Cement manufacturer ACC Ltd reported a 46% jump in profit before tax to Rs 482 Cr, while sales increased 18% in the first quarter to 3,329 Cr. Net profit rose 33% to 326 cr. Cement volume rose 10% on year. “The Company delivered strong volume growth amidst challenging market Conditions,” it said. “The speedy ramp […]
The Indian Meteorological Department has warned that heavy rainfall over the next three days is likely to lead to a ‘rapid rise’ in the levels of major rivers in Gujarat, Rajasthan, Uttar Pradesh and Madhya Pradesh. It urged that caution should be exercised while release water from dams during this period. The rivers that will […]
Auto ancillary company Minda Corp said it had raised Rs 25 cr by issuing commercial paper. Commercial paper refers to unsecured, short-term promissory notes or debt issued by a company. These paper usually mature in a few weeks or months and are used for working capital and other short-term requirements. “This (issue) is in line […]
State Bank of India said it had decided to conduct an initial public offer for some of its shares in its insurance subsidiary SB Life Insurance. BNP Paribas Cardif S.A. would also sell some of its shares in the offer. It said the offer would involve 8 crore shares. No valuation or size details were […]
Surya Roshni, one of India’s oldest electrical brands, said it launched what could be India’s most power efficient full-size ceiling fan — the SS-32. The fan belongs to the new breed of brushless or BLDC fans that use an electronic circuit to convert alternating current into direct current or DC, instead of a brush. Surya’s […]
The Indian Meteorological Department has warned about heavy rains in the Himalayan states, Bihar, Jharkhand and North East. There will be heavy rains in these regions for five days starting from today. “Heavy to very heavy rain very likely at isolated places over Assam & Meghalaya; heavy at isolated places over Uttarakhand, East Uttar Pradesh, […]
Jubilant Life Sciences said it received final approval from US authorities to launch a generic version of Valeant’s anti-depressant Wellbutrin. The approval from FDA is for introducing Bupropion Hydrochloride tablets in 150 mg and 300 mg doses. The drug is used for the treatment of major depressive disorder and prevention of seasonal affective disorder. “This […]
Real Estate developer Godrej Properties said it kicked off two new projects — both residential apartments — in Gurgaon and Bangalore. The Gurgaon project is is of 98,000 square meters or 1.05 million sq. ft., while the Bangalore project will add 58,000 square meters of saleable area. The Gurgaon ‘group housing project’ is located 5 […]
Airline SpiceJet said it has opened its first physical store under its new ‘SpiceStyle’ retail brand at Galleria Mall in Gurgaon, near Delhi. The launch of its first physical store marks SpiceStyle’s entry into the offline segment besides its ecommerce portal and a brand store launched in association with Amazon. It also announced freebies, including […]
Packaged food company Nestlé said it would pass on to consumers any reduction in tax rates due to the introduction of the goods and services tax tomorrow. Companies are not obliged to pass on the benefit of lower taxes to consumers, and many are unlikely to. The Swiss giant said it won’t be one of […]
Zydus Cadila said it received the final approval from the US FDA to market obesity drug Phentermine Hydrochloride. The drug will be marketed in the form of orally disintegrating tablets in strengths of 15 mg, 30 mg, and 37.5 mg. The drug is used to treat obesity in people with risk factors such as high […]
Social network Facebook said it has tied up with the Election Commission of India to remind Indians to register themselves to vote. “Starting from 1st July till 4th July, the voter registration reminder will be sent to people on Facebook in India who are eligible to vote,” Facebook said, on a day when the company […]
Sun Pharma announced a tie-up with National Institute of Virology (NIV) under the Indian Council of Medical Research for testing various compounds for treating rapidly spreading viral infections — Zika, Chikungunya and Dengue. The compounds will include those sourced from plants, animals and chemical entities developed by Sun Pharma. NIV will do the testing against […]
With IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the country’s software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon in NCR are expected to see 10-20 per cent reduction in the housing rents over the next three quarters, according to an ASSOCHAM paper. “IT […]
SpiceJet announced the launch of four new daily non-stop flights connecting Surat to Mumbai and Hyderabad. From July 10, there will be a new daily direct flight for the Mumbai-Surat-Mumbai sector. It will also start operating its second daily direct flight on the sector in the Hyderabad-Surat-Hyderabad sector. “SpiceJet is the only airline to operate […]
PVR, India’s largest multiplex chain, said it opened its 127th property at Grand Galada Centre Mall in Chennai. The facility will have five screens and is equipped with 2K projection, 7.1 Digital Dolby surround sound and Dolby ATMOS. The screens also support 3-D, the company said. With this, the company now operates 584 screens in […]
Finvasia, a technology-driven online broking start-up, announced that it has rolled out what it claimed was India’s first ‘truly’ free online demat account for investing in stocks and derivatives, including futures. There have been many ‘free demat account’ providers in the past too, but such operators usually find some way or the other charge their […]
Noted Kashmiri politician Bhim Singh has called on the government to appoint the next president from Jammu & Kashmir and send a strong signal to secessionists. Singh suggested the name of another Kashmiri politician Karan Singh for the post. Karan Singh is the son of the last ruler of the erstwhile princely state of Jammu […]
India’s merchandise imports continued to grow at a blazing pace, widening the gap between the foreign exchange that the country earns from its exports and the money that it has to shell out for its imports. Imports for May rose by 33% compared to a year ago, resulting in a doubling of India’s trade gap […]
Pharma Major Lupin said received final approval for launching a generic version of Mallinckrodt Inc.’s Roxicodone Tablets in the United States. The drug is used for the management of pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate, the company said. Roxicodone Tablets has US sales of USD 344 […]
