Biocon Ltd said it has received European approvals for generic versions of AstraZeneca’s cholesterol drug Crestor, opening up a billion dollar market. The approval has been obtained for Rosuvastatin Calcium 5 mg, 10 mg, 20 mg and 40 mg tablets, indicated for hyperlipidemia or mixed dyslipidemia. Biocon Chairperson & Managing Director Kiran Mazumdar-Shaw said: “This […]
The body of a student missing for five days has been found in a ditch not far from the Chief Minister’s bungalow in Lucknow, Uttar Pradesh. The girl, who was studying in 12th standard in city school, had been reported missing and an FIR had been filed in Janakipuram police station in Lucknow. Prima facie, […]
The Governing Council of TERI appointed former finance secretary Ashok Chawla as its new chairman and said RK Pachauri will be on leave. “Dr. R.K. Pachauri, who had been at the Head of the Institute since 1982 will be on leave from TERI, TERI Governing Council, and TERI University till this is reviewed by the […]
Adani Realty, the youngest arm of the Adani Group, announced its first commercial property project, ‘INSPIRE by Adani’, at Bandra Kurla Complex in Mumbai. The project will be spread across an eight Lakh sq.ft of built up area with G+10 floors with large and flexible floor plates along with landscaped terraces and breakout spaces, the […]
Union Bank of India, one of India’s biggest government-owned banks, said non-performing assets — bad loans to the layman — rose to 7.05% of its loanbook as on December 31, 2015 from against 6.12% three months earlier. A year ago, NPAs, on a gross basis, was 5.08%. On a net basis, NPA ratio was at […]
The Chief Information Commissioner — the highest authority under India’s Right to Information law — has ruled that the bills submitted by a government official for getting travel allowance are not covered under privacy safeguards. Government officials are allowed to claim TA or travel allowance in lieu of expenses incurred while traveling on official business […]
The government of India has decided to utilize Rs 6,500 cr of surplus cash to buy back bonds that it issued recently. The bonds carry 1.44% interest over and above the wholesale inflation index rate and were due to repurchase only in the year 2023. The government of India has seen a sudden influx of […]
The Ministry of New and Renewable Energy (MNRE), proposes an upward revision of the benchmark cost of Concentrating Solar Thermal (CST) Technologies Programme. The proposed revision in the benchmark will also accommodate increase in the cost of various components of CST systems, the government said. UPDATE: There is some confusion about whether benchmark costs have […]
Mahindra Finance said it has received a license to operate Mutual Funds via its subsidiary Mahindra Asset Management Company. Mahindra Finance is currently engaged in vehicle financing, and is part of the Mahindra Group. It plans to tap into its existing network of dealers and customers to sell its mutual fund products. “Our customer base […]
The Supreme Court today sent notice to the central government in a case based on a complaint by a Muslim woman that the divorce laws applied to her in India are not in conformity with the concept of gender equality promised by the Indian constitution. The court today sought the Union Government’s reply on questions […]
Domino’s Pizza, the most popular pizza chain in India, crossed the 1,000 restaurant milestone today with the opening of its outlet in Unity One Mall, Janakpuri, New Delhi. The total number of cities covered has gone up to 227, making it the biggest food chain in the country. According to Euro Monitor Consumer Food Service […]
Birla Corporation Limited said it agreed to buy the entire cement business of Reliance Infrastructure Ltd for a valuation of Rs 4800 crores including debt. The debt portion of the valuation will not go to Reliance Infrastructure. The equity value of Reliance Cement was not disclosed. The two companies have agreed that Birla Corp shall […]
The government today said that it will push amendments for increasing to 50 per cent the reservation for women in Panchayats from 33 percent in the coming Budget session of Parliament. The move comes even as a bill to ensure women’s representation in the Parliament continues to languish for lack of political support. Speaking at […]
Dish TV India reported third quarter fiscal 2016 consolidated operating revenues of Rs.7,715 million, up 11.8% on year and subscription revenues of Rs.7,111 million, up 12.6%. During the third quarter, the company increased the total number of HD channels to 50 — the highest in India by some distance. New HD channels include Sony Max […]
TVS Motor Company has reported a revenue growth of 11% for the quarter ended December 2015. Total revenue grew from Rs 2,639 Crores in the quarter ended December 2014 to Rs. 2,940 Crores this year. “On account of the unseasonal heavy rains and floods, the Chennai city and neighboring districts were affected. The company reached […]
Dabur India Ltd reported a 2.4% growth in Consolidated Net Sales at Rs 2,122.4 Crore for the third quarter despite what it called a challenging business environment and continued softer consumption trend across the industry. The Company ended the third quarter of 2015-16 with a 12.6% rise in Consolidated Net Profit at Rs 318.5 Crore, […]
TVS Motor Company today announced the launch of its new four stroke moped TVS XL 100, already available in the Tamil Nadu market. The TVS XL 100 comes at an ex-showroom price of Rs 29,539 in the state. South India, especially rural Tamil Nadu, is a hot market for mopeds due to their low price […]
HCL Technologies, one of India’s top IT services providers, announced a new IT Infrastructure partnership with Alstom, a railway equipment provider. HCL will offer workplace engineering services and roll out PC as a Service for 30,000 users worldwide and will enable local end-user support services across 360 locations in 62 countries. Additionally, HCL will establish […]
Godrej Properties Ltd, the real estate development arm of the Godrej Group, today announced it has entered the Noida real estate market for the first time through a Development Management Agreement to develop a residential group housing project within Lotus Greens Sports City in Sector 150, Noida. “Spread over 36 acres, the project will offer […]
Mahindra & Mahindra announced the launch of its mHawk new 1.99 litre diesel engine, which could help the company overcome the impact of a recent Supreme Court decision on diesel car sales. The Supreme Court had, a month ago, banned the sale of cars and SUVs with engines bigger than 2 liters (2000 cc). Most […]
