Sun Pharmaceutical Industries said it has received Emergency Use Authorization or EUA from India’s Drugs Controller General of India (DCGI) to manufacture and market a generic molnupiravir in India, a week after the US-FDA gave an EUA to its use in the US. The company has promised to make the oral drug, under the brand […]
Hero MotoCorp, already suffering from one of the worst demand slow-downs in recent times, said it is being forced to take a fourth round of price increase this year to offset the sharp increase in raw material prices. The latest round of price increases will come into effect on Jan 4, and will be ‘up […]
Strides Pharma Science Ltd said its mega vaccine plant in Bangalore is ready and has started commercially producing Russian COVID vaccine Sputnik Light. “As previously committed, the company is on track to commercialize this vaccine for Global markets in Q4FY22,” it added. Strides Pharma unit Stelis was the third pharma manufacturer in India to sign […]
Plans to bring out a more improved version of India’s indigenous fighter aircraft, Tejas, have moved a step closer to fruition with the award of a Rs 2,400 cr contract by Hindustan Aeronautics Limited (HAL) to Bharat Electronics Ltd (BEL). The contract has been awarded for the supply of 20 types of airborne electronic systems […]
State Bank of India said its central board has approved a proposal to potentially sell around 6% of its stake in its mutual fund arm via an initial public offering. “..the Executive Committee of Central Board of the Bank has accorded approval for exploring possibilities to offload 6% stake of the Bank in SBI Funds […]
Morepen Laboratories said it expects its US export business to get a major boost now that the US FDA has given it the go-ahead to export allergy drug Allegra to that market. Fexofinadine, invented by Sanofi Aventis, is the most widely used, second generation antihistamine drug for the treatment of allergy symptoms and hay fever, […]
India’s largest car maker Maruti Suzuki today denied that it was facing problems with demand, and said the recent slowdown in sales is because of availability of semiconductor chips. Shashank Srivastava, executive director in charge of sales and marketing, denied that the company was facing any issues liquidating its inventory, and said stocks were well […]
Tata Motors reported yet another month of outstanding sales figures in the form of November 2021, but the pace of growth declined marginally in a month that saw most others report steep declines in sales. The company’s total vehicle sales rose to 62,192 units from 49,650 units a year ago, but was lower than the […]
Life Insurance Corporation of India, a government-controlled insurance company that has the highest share of the market in India, can continue to increase its stake in private lender Kotak Mahindra Bank, having got the nod from Reserve Bank of India to increase its stake to 9.99%. LIC has been increasing its stake in Kotak Mahindra […]
Royal Enfield, India’s largest retro, semi-premium motorcycle brand, said its third assembly plant outside India started operations in Thialand. The plant, which will assemble the parts manufactured at the main plants in Chennai in India, will cater to markets such as Indonesia and Vietnam, besides the Thai market. Due to ASEAN trade pacts, it is […]
RattanIndia Enterprises, led by IndiaBulls founder Rajiv Rattan, has announced plans to open Revolt electric bike showrooms in 60 new cities by early next year, which will take the total number of showrooms to 75. These new cities include Kolkata, Chandigarh, Lucknow and the national capital. The current crop of showrooms are located in Bangalore, […]
Indian Railways has decided to resume live catering services in all long-distance trains, given the restoration of normal train services a week ago, and asked IRCTC to restore live catering services as before. Live catering services, involving the cooking and delivery of food in specially designed kitchen cars on trains, were stopped in February last […]
Hospital group Max India said it has sold 200 out of the 340 apartments coming up at Noida Sector 150 dedicated to seniors. The Antara Noida project, which was launched last year, will be ready for possession in 2024. This is the second such dedicated living quarters designed for elders created by the company, with […]
Parag Milk Foods Ltd, India’s largest dairy-focused consumer goods brand, said sales of some of its key products has reached pre-pandemic levels, but sales of liquid milk are half their regular volume. The company, which was hit by the COVID-19 pandemic both because of logistical disruptions as well as a dip in consumer demand, reported […]
Exide Industries, one of India’s oldest automotive battery companies, reported a strong increase in revenue for the September quarter, but an equally significant jump in the cost of key raw materials prevented any benefit of the higher sales from flowing to the company’s bottom line. The company’s operating revenue jumped Rs 4,758 cr from Rs […]
Larsen & Toubro, India’s largest construction company, said it won a contract from the union government to build three 10-storeyed buildings that form part of the new central secretariat. The union government is current redeveloping the central vista — the hub of administration in India that houses most of the major ministries and departments of […]
Havells India, one of the country’s largest electrical equipment makers, said it expects organized players such as itself to benefit as raw material price increases put pressure on unorganized players. The company, a prominent player in the switchgear, wire and lighting segments in India, also said that demand for electrical goods in India is on […]
Mahindra & Mahindra manufactured 1,535 units and sold 1,370 units of its latest and most high-profile passenger vehicle, XUV700, in the first month of sales – September 2021. This is only 2% of the total outstanding booking for the vehicle. Its predecessor, XUV500, had sold 1,213 units in its first month of sales, in October […]
Vakrangee Ltd, India’s largest operator of IT-enabled kiosks and service centers, reported a strong increase in its operating financials for the September quarter as its performance clearly overshot pre-COVID levels. The company’s total revenue jumped to Rs 207.2 cr for the three months ended September this year, up from just Rs 70.2 cr in the […]
HDFC, one of India’s oldest housing finance companies, said it has slashed the interest rate on its home loans to 6.7% for those with qualifying credit scores. The rate of 6.7% is one of the lowest interest rates charged by any bank or housing finance companies in India at present. The closest competition is with […]
