The last three years have seen a massive shift in private equity investment in the Indian real estate sector from residential properties to commercial properties, according to data compiled by Anarock Property Consultants. The share of residential sector within private equity investments in real estate fell to just 3% in 2018 from 47% in 2015, […]
Two-wheeler maker TVS Motors reported an increase of 2% in the domestic two-wheeler sales in April. It sold 2.48 lakh units of two-wheelers in India, up by 6,852 units from last year. Of the 2.48 lakh units, TVS Motors sold 1.43 lakh of motorcycles and 97,323 lakhs of scooters in April. Both scooter sales and […]
Indian car manufacturer Mahindra and Mahindra reported a decline of 7% in sales of its utility vehicles in April. It sold 18,884 utility vehicles in the month, down by 523 units last year. Its competitor, Maruti Suzuki, on the other hand, witnessed an increase of 6% in the utility vehicle segment in April, though the […]
Bajaj Auto, the country’s biggest two-wheeler exporter, reported a jump of 8% in its April exports, and an increase of 3% in domestic sales. Overall, the company’s total sales for the month were up 2%. Bajaj sold 2.05 lakh motorcycles in India during April and exported over 1.68 lakh. The company reported its highest ever […]
Mumbai-based chemicals firm, Omkar Speciality Chemicals, said it received a process patent from the Government of India for its process to manufacture artificial sweetener sodium saccharin. Under a process patent, exclusivity is granted for a particular manufacturing process, and not for the product itself. Others can produce the same product through a different process, modifying […]
Pharmaceutical manufacturer Zydus Cadila said it received approval from the United States Food and Drug Administration for the sales of a generic version of Valeant Pharmaceuticals’ Syprine capsules and a generic version of Actelion Pharmaceuticals’ Tracleer tablets. Trientine Hydrochloride capsules are chelating agents used for the treatment of Wilson’s disease, a genetic metabolic defect that […]
Two-wheeler manufacturer Hero MotoCorp Ltd said it will launch its Maestro Edge 125 model and XPulse models by this month. The company produces scooter models such as Destini 125, Duet, Maestro Edge and Pleasure. Close to 10% of its total sales are from scooters. The Hero Maestro will now join the Destini 125 in the […]
Ahmedabad-based Torrent Pharmaceuticals said its manufacturing facility at Indrad in Gujarat was subject to certain ‘procedural observations’ by the United States Food and Drug Administration following a routine inspection. The pharma company did not quantify how many observations were made by the US health regulator. Procedural observations are referred to as deficiencies in standard operating […]
Pharmaceutical manufacturer Zydus Cadila said it received final approval from the United States Food and Drug Administration for sales of a generic version of Aventis Pharma’s Arava tablets. Leflunomide tablets, belonging to a class of medications called disease modifying anti-rheumatic drugs, is used of the treatment of rheumatoid arthritis. Zydus said that its tablets will […]
“I will leave you in suspense” is what Congress President Rahul Gandhi said eight days ago when asked about rumors of his sister’s candidature in Varanasi. Now, with just four days remaining to file nominations in Varanasi, it looks like Gandhi is willing to end the suspense According to reports of multiple TV channels, including […]
Mumbai-based pharmaceutical firm Glenmark Pharmaceuticals said it received approval from the Russian Health Ministry for the sales of Momate Rhino, also called Mometasone Furoate metered nasal spray, as an over-the-counter (OTC) drug. Over-the-counter drugs are medicines sold directly to a consumer without prescription from a healthcare professional, as opposed to prescription drugs, which may be […]
The National Stock Exchange on Wednesday sought a clarification from Jet Airways regarding reports that a British entrepreneur has expressed interest in acquiring it. The NSE has asked Jet Airways whether such negotiations were taking place and whether it was aware of any information that has not been informed to both NSE and BSE. This […]
Retail chain V-Mart announced the opening of two new stores, one each in West Bengal and Uttar Pradesh, taking its total tally to 218. With this, V-Mart has its operations in 172 cities across 17 states in the country. The retailer has 13 stores in West Bengal and 86 stores in Uttar Pradesh. The company […]
Banking services and solutions provider Nucleus Software reported a consolidated revenue of Rs 127 crore in the fourth quarter of FY 2019, compared to the Rs 111 crore it generated in the corresponding quarter of the previous year. This is also higher than the Rs 123 crore it posted three months ago and the Rs […]
Tata Global Beverages Ltd, a subsidiary of the multinational conglomerate Tata Group, said it entered into a non-binding agreement to acquire the branded tea business of the Kolkata-based Dhunseri Tea and Industries Ltd for Rs 101 crore. A non binding contract is an agreement in which the parties are not legally obligated to carry out […]
Jewellery manufacturer Rajesh Exports opened its 82nd gold showroom under the Shubh Jewellers brand name in Mangalore. Launched in 2012 by Rajesh Exports, Shubh Jewellers enjoys a strong presence in South India, especially Karnataka. The company claims to have one of the world’s largest active jewellery design databases of around 29,000 designs. “We are planning […]
India’s most aggressive low-cost carrier, SpiceJet, announced 28 new flights connecting Mumbai and Delhi with other cities on its domestic network, five days after it added 24 new flights connecting Mumbai and Delhi with other cities. SpiceJet also announced slew of new non-stop international flights from Mumbai to a host of international destinations including Hong […]
Steel and Energy Company Jindal Steel and Power Ltd (JSPL) said it completed the delivery of its first ever rail order for the supply of rails to the Indian Railways four months ahead of schedule. On July 28, 2018, JSPL had bagged 20% of the Rs 2,500 crore global tender by the Indian Railways to […]
Recruitment firm TeamLease Services Ltd said it entered into an agreement with HR services company E Centric Solutions Private Ltd to acquire its IT staffing business. Incorporated in 2014, Hyderabad-based E Centric currently has over 100 core employees, 880 associates deployed across more than 20 clients. It reported a revenue of over Rs 45 crore […]
Alembic Pharmaceuticals said it received approvals from the United States Food and Drug Administration (USFDA) for sales of a therapeutic equivalent of French pharma major Sanofi Aventis’ Aubagio tablets and for a therapeutic equivalent of Novartis Pharmaceuticals Corporation’s Tobrex Ophthalmic Solution. Teriflunomide pills are used to reduce flare-ups in people with relapsing multiple sclerosis (MS). […]
