Potentially marking a new era in provision of reservations in India, the Bombay High Court has upheld the provision of a reserved quota for Maratha community in educational institutions and government jobs. It has, however, asked the government to bring down the percentage of reservation to 13%. With this, the total percentage of reserved seats […]
Sun Pharmaceutical Industries today announced that it had licensed two of its products — for psoriasis and for dry eye — to China Medical System Holdings Ltd or CMS. CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the Indian pharma company said. The financial […]
SpiceJet said it will start a daily, non-stop flight between Mumbai and Hong Kong on July 31, the first by an Indian airline. It already operates a similar flight from Delhi. SpiceJet will deploy its 168-seater Boeing 737-800 aircraft on the sector. “The flight is timed perfectly for business and leisure travellers alike with a […]
Having withdrawn Star Bharat from India’s largest free DTH service, Star India seems to have decided to junk its erstwhile ‘dual brand’ strategy in favor of consolidating all its channels under the flagship Star branding. Movies OK, a channel that was launched seven years ago as a cheaper alternative to Star Gold, the group’s flagship […]
Chennai-based Cloud Computing solutions provider Ramco Systems said it has implemented its HR and payroll solution at Kuwait Food Company (Americana) K.S.C.C., one of the largest food companies in the Middle East. It said the first phase of the project has gone live, involving 9,000 in the UAE. Americana Group was founded in 1964 in […]
Ducon Infratechnologies Ltd, which provides technology solutions in the industrial, infrastructure & digital, said that it has entered into strategic tie-up with Sterling & Wilson Private Limited, a flagship group company of Shapoorji Pallonji group, to jointly bid for large size flue gas desurlpherization tenders. “The joint bidding exercise has significantly expanded our financing capabilities […]
PVR Pictures, the production and distribution arm of India’s largest film exhibition company, said it has signed an agreement Kumar Mangat Pathak and Abhishek Pathak’s Panorama Studios to distribute films across India. Panorama Studios has produced hits like Omkara, Special 26, Drishyam, Singham, Raid and Pyaar Ka Punchnama, since it was founded in 2005. PVR […]
Hotstar, India’s largest premium streaming platform, said 15.6 million (1.6 cr) people used its video streaming app at the same time on June 16, when India played Pakistan in the ICC World Cup in England. In all, 10 cr people logged into the service some time during that day. This is a record for the […]
Samsung India introduced two new 10-inch plus tablets, with the cheaper one priced at Rs 15k and the costlier one, which comes with an AMOLED display, at Rs 35,999. The premium model, called Galaxy Tab S5e, is probably the only tablet in India with an AMOLED display. It is also slim, at 5.5 mm, and […]
India’s Glenmark Pharmaceuticals Ltd said it entered into an exclusive marketing agreement with Novartis Biosciences S.A, a subsidiary of Novartis AG, for three products meant for treating chronic obstructive pulmonary disease (COPD) in Brazil. Under the terms of the agreement, Novartis remains the holder of the registration of these medicines and will be responsible to […]
North Eastern states such as Mizoram, Arunachal Pradesh, Nagaland, Sikkim and Manipur have seen the biggest jumps in the rural employment scheme wage rates fixed for the current year. Mizoram saw a jump of 17 rupees to 211 rupees per day for work done under the MGNREGA scheme during 2019-20, followed by Arunachal Pradesh, Nagaland, […]
Singapore-based investment management company Manulife has bought a 49% stake in the asset management arm of Mahindra Finance, marking yet another collaboration between an Indian financial company and a foreign asset management company for operations in India. The transaction has been structured as an investment of $34.9 million, or about Rs 2,000 cr, into the […]
Promoters of MAN Industries (India) Limited, one of India’s top manufacturers of large pipes, have increased their stake in the company by about 2.1 percentage points, the company said. The promoters purchased 12 lakh shares in a bulk deal from the market, it said. The transaction is likely to have cost around Rs 6.25 cr, […]
Glenmark Pharmaceuticals said it received tentative approval from the United States Food & Drug Administration for a generic version of Mylan Pharma’s acne cream Evoclin. According to IQVIATM sales data, the EVOCLIN Foam 1% has sales of $17.0 million per year in the US. EVOCLIN Foam is indicated for topical application in the treatment of […]
HDFC said it has agreed to buy a 51% of Apollo Munich Health Insurance Company Ltd for around Rs 1,347 cr. Apollo Munich will be merged with HDFC’s general insurance subsidiary, HDFC ERGO General Insurance Company Limited, even as Munich Re continues to remain invested in the new, merged entity. HDFC already has a joint […]
lnduslnd Bank said it will give effect to its take over of Bharat Financial Inclusion Limited — formerly known as SKS Microfinance Limited — on July 4. The private sector bank said it received the approval of National Companies Law Tribunal or NCLT last Thursday. With the merger, “all the assets and liabilities of Bharat […]
Mahindra & Mahindra, one of India’s largest car and SUV makers, announced that the prices of its cars and SUVs will jump by up to Rs 36,000 due to new safety norms that kick in from July 1. The biggest price increases will be felt on cheaper and older models such as Scorpio, Bolero, TUV300 […]
SpiceJet, the fastest growing airline in India, said 93.9% of its available seats for the month of May were filled, marking a record 50 months in a row when the company has topped the occupancy chart in India. “This is a feat unparalleled in global aviation industry and a huge milestone for SpiceJet,” said Shilpa […]
Tata Sons, the holding company of the Tata Group, will invest Rs 950 cr into Trent, the retail arm of the group. The money will be used to fund the expansion of the group’s Westside, Star and Zudio retail chains, Trent said. Star is a super market chain, while Zudio and Westside are clothing retailers. […]
Saregama Carvaan, arguably the most successful digital audio product in India, has finally got internet connectivity, and along with it, support for online radio and podcasts. Carvaan 2.0 comes with support for Wifi, said its maker Saregama. “The pre-loaded 5000 songs continue to be accessed anytime without internet along with other features like FM/ AM, […]
