Global wholesales of Tata Motors Group, including Jaguar Land Rover, declined 5% in March this year. The group sold 1.45 lakh vehicles during the month. Last week, Tata Motors had announced that its domestic retail sales had dropped by 1%, or 700 units, to 68,709 owing to ‘weaker consumer sentiments’. In the wholesale numbers, commercial […]
Pharmaceutical major Lupin said that it launched a generic equivalent of Alvogen Group Holdings’ psychiatric drug Fluoxetine. Fluoxetine tablets sold in 60 mg dose had annual sales of $41 million in the US market as of February 2019. Fluoxetine is also sold under the brand name Prozac as a treatment for depression and other mental […]
KM Mani, a stalwart of Kerala politics, passed away today. He was 86. Mani, who led the biggest faction of Kerala Congress, breathed his last at Lakeshore Hospital in Kochi. Mani was admitted to the hospital in the first week of April with a respiratory-related illness. A medical bulletin said that he had been suffering […]
Pune-headquartered multinational company Bharat Forge said it acquired a 51% stake in Kolhapur-based metallic products manufacturing company Eternus Performance Materials for Rs 37.45 lakhs. Eternus had a turnover of Rs 1.16 crore for the financial year 2017-18. Eternus is in the business of high-end research and development oriented manufacturing of advanced composite products and precision […]
Renewable energy solution provider Suzlon Energy Ltd said that it has sold two of its solar farms — Shreyas and Aalok — to Ostro Energy Pvt Ltd, a wholly owned subsidiary of ReNew Power Services Ltd. “The company has received an aggregate consideration of Rs 10.13 crores on the sale of 26% of its existing […]
IT company Tech Mahindra Ltd said that it has acquired 18.1% stakes in each of two India-based logistics and asset tracking firms – Infotek Software and Systems Pvt Ltd and Vitaran Electronics Pvt Ltd. With the acquisitions, worth Rs 130 million, the company aims to leverage the presence of the companies in the Radio frequency […]
JSW Steel Limited, the flagship company of the Mumbai-based JSW Group, reported a 3% decline in production of crude steel in the fourth quarter of Financial Year 2019. JSW produced 4.17 million tonnes of crude steel during this period, compared to the 4.31 million tonnes produced a year ago. Besides crude steel, the company also […]
Indian pharmaceutical manufacturer Caplin Point Laboratories said that its wholly-owned subsidiary Caplin Sterlites Ltd signed a licence and supply agreement with US healthcare firm Baxter International for sales of five generic injectable drugs. Under the agreement, Caplin will be supplying its products to Baxter for sales. “All these ANDAs [generic drugs] have been developed in-house, […]
Two-wheeler maker TVS motors said that it launched four new products in Bangladesh: Apache RTR 160 4V single disc, TVS Max 125, TVS Metro 100cc motorcycle, and utility vehicle TVS XL100 Heavy Duty. Bangladesh is one of the key export markets for TVS Motors. It distributes its two-wheelers through TVS Auto Bangladesh across the country. […]
Pharmaceutical manufacturer Zydus Cadila said that it received tentative approval from the US Food and Drug Administration for sales of a generic equivalent of UCB Inc’s Vimpat tablets. A tentative approval means that the company has to wait for all patent and other protections to expire before starting the sale of the drug. Lacosamide is […]
Adani Power Ltd (APL), a subsidiary of Adani Enterprises Ltd and a part of the Adani Group, said that it has received the Letter of Intent for the acquisition of Korba West Power Company Limited. The development comes after the committee of creditors of Korba West Power, which is currently undergoing insolvency resolution process and […]
India’s most aggressive low-cost carrier SpiceJet launched a daily direct flight connecting Mumbai with Thai capital Bangkok, becoming the first Indian budget carrier to provide services on the route. The airline also introduced six domestic flights connecting Mumbai with Chennai, Varanasi and Kolkata. The international flight will start from May 17 while domestic flights will […]
The price of spot power in India registered a decrease this month compared to the same month last year as parts of the country experienced a late start to the summer season. The average price of power sold via Indian Energy Exchange (IEX) was at Rs 3.12 per unit, decline of 22% over Rs 4.08 […]
IT firm Tata Consultancy Services (TCS) said that it has deployed its core banking product TCS BaNCS at ChinaTrust Commercial Bank (CTBC) in Taiwan. BaNCS is TCS’ main product for banks, and offers various solutions for core banking, internet banking, treasury, wealth management, mobile banking and insurance. “We chose TCS BaNCS as our preferred solution […]
Software company Zensar Technologies, part of the RPG Group, announced the launch of operations in Mexico. The new center will focus on supporting the company’s customers in both Mexico and North America, said Zensar “Our Mexico operations will support some of our key customers in North America and Mexico across varied digital technologies. There will […]
Infrastructure major Larsen and Toubro (L&T) said its hydrocarbon engineering business has received orders worth over Rs 1,000 crore across various segments. The Modular Fabrication business has secured a contract for process and piperack modules for a process plant, which includes procurement, fabrication, pre-commissioning and load-out of the modules, it said. The contract shall be […]
IT firm Tata Consultancy Services (TCS) said that it has deployed core banking software TCS BaNCS at National Bank of Bahrain (NBB). BaNCS is TCS’ main product for banks, and offers various solutions for core banking, internet banking, treasury, wealth management, mobile banking and insurance. BaNCS will standardise and streamline NBB’s operations across multiple countries, […]
GMR Hyderabad International Airport, a subsidiary of GMR Ltd, said that it has raised $300 million by issuing bonds to international investors to fund the expansion of Rajiv Gandhi International Airport at Hyderabad. The company wants to increase the passenger capacity of the airport to 34 million passengers per annum from 25 million now. GHAIL […]
Prominent psephologist and founder of Swaraj India party, Yogendra Yadav said that Swaraj India, the party he cofounded with others such as Prashant Bhushan, will lend its support to Kamal Haasan’s Makkal Needhi Maiam in the upcoming Lok Sabha elections. Taking to Facebook, Yadav wrote that Swaraj India will support the party for 40 Lok […]
The picturesque district of Wayanad has attracted the attention of political pundits and media ever since the announcement that Congress President Rahul Gandhi will contest from the place in addition to his traditional stronghold of Amethi. National interest in the constituency shot up after the announcement made by senior Congress leader and former Defence Minister […]
