Pharma major Lupin said its Nagpur plant has passed a Pre-Approval Inspection by the US Food and Drug Administration without incident. The inspection, carried out in September, was related to the manufacture of Phenytoin Sodium Extended Release capsules to be sold in the US market. Lupin’s Nagpur facility is the company’s latest site and manufactures Oral Solid Dosage […]
Zee5, the content app from the Zee Group, has joined the NetRange, an app store found on televisions manufactured by global TV makers such as Philips, Grundig, HiSense, Thomson, Skyworth, Sharp and TCL. With this, the Zee5 app will become instantly available on lakhs of smart TVs across the world. “The ZEE5 app will be […]
Dish TV, India’s largest direct-to-home satellite television service, said it will send out software upgrades to over 4 mln (40 lakh) of its users that will enable them to install apps to watch Internet content on their TV by December. “There are almost 4 million boxes that we have which we can convert into connected […]
Punjab National Bank, hit by a $2 billion scam, said the government of India has purchased around 63.82 cr shares in the bank. At the current market price of Rs 71 each, the shares are worth Rs 4,530 cr. With this, the government’s stake in the bank has risen to 71.92% from 66.09%. The transaction […]
GAIL India, the country’s largest pipeline operator, said it has placed an order worth Rs 1,100 cr to buy pipeline required to connect the North Eastern states to the ambitious Jagadishpur— Haldia—Bokaro-Dhamra project. The Jagadishpur—Haldia—Bokaro-Dhamra project runs through three states — Jharkhand, Odisha and West Bengal, and is meant to connect these eastern states to the […]
The Bharatiya Janata Party continues to face headwinds in Karnataka, six months after the party made an abortive attempt to capture power in the state despite coming short of majority in the state elections. The state is counting the votes from five by-polls today, including two assembly seats and three Lok Sabha seats. LAST ELECTION […]
Two weeks after announcing a Rs 3,500 cr order to build the Indian Navy’s communication network, Sterlite Technologies said it won a Rs 1,512 cr order to connect 4,045 panchayats in Maharashtra under the BharatNet project. The announcement comes close on the heels of GTPL Hathway and Polycab Wires announcing a Rs 1,246 cr order to connect 3,767 […]
Sun Direct, the satellite TV service from Sun TV group, has started offering the cheapest high-definition channel packages in India. The DTH service, which used to offer HD channels only as part of ‘base packs’ that came with a large number of standard-definition channels, has now started offering smaller packs comprising only HD channels. The […]
Future Supply Chain Solutions Limited, the logistics arm of the biggest large-format retail chain in the country, continued to report strong growth on the top line and improving profits, but expenses too largely kept pace. The company’s revenue from operations grew by 34.4% on year to Rs 276.2 cr for the September quarter, an increase […]
TVS Motor Co, one of the world’s largest two-wheeler makers, reported a 26% jump in October sales, thanks in part to a festival season that came early this year. Sales, including exports and three-wheelers, jumped to 398,427 in October from 317,411 last year. This is a better performance compared to September, when overall sales had […]
Maruti Suzuki, India’s largest car maker, reported flat sales for October. Total sales, including exports, came in 1.47 lakhs versus 1.46 lakhs last year, rising just 0.2% on year. Domestic sales did slightly better than exports as they were up 1.5% at 1.38 lakh. Exports, on the other hand, fell 17% on year to 8,666 […]
Following the trend seen in other newspaper stocks, Jagran Prakashan — which publishes India’s largest circulated daily — reported a sharp decline in its profits for the second quarter. However, the company was able to better manage rising input costs compared to its rival DB Corp on a sequential basis. Like in case of DB […]
Glenmark Pharmaceuticals said has got final approval from the United States Food & Drug Administration to launch generic version of Derma-Smoothe scalp oil of Hill Dermaceuticals. The drug is among the smaller ones by sales and had 12 month sales of just around $14.0 million in the US. With this, said Glenmark, its current portfolio […]
The much-awaited daily hearing of Ayodhya Ram Mandir hearing has been adjourned to at least January 2019, throwing cold water on hopes that the matter would be settled before elections in May next year. The adjournment was done by a bench headed by the chief justice of India Justice Ranjan Gogoi. “The honorable bench said […]
The Mumbai Metropolitan Region Development Authority has given a Rs 276-cr order to J Kumar Infraprojects to build an elevated road from the ending point of the Mulund-Airoli bridge to the Thane-Belapur highway. The elevated road would ease traffic for those going from areas near Mulund to Navi Mumbai. At present, motorists have to go […]
HT Media, which publishes English newspaper Hindustan Times and Hindi newspaper Hindustan, blamed poor advertiser sentiment for its second quarter results. The company’s July-September revenue had fallen by 6% even as costs rose, pushing it to a rare loss of Rs 19 cr before non-cash, non-operating items (operating profit or EBITDA). The company had seen […]
Pharmaceutical major Cipla said it has received US FDA approval to sell a generic version of heart drug Toprol by Aralez Pharmaceuticals. Toprol and its equivalents had US sales of approximately $464 million for the 12-month period ending Aug 2018, the company said. That puts it among mid-sized drugs by sales, versus the $100 mln market size […]
After years of uncertainty, Vedanta Resources received a 10-year extension for its lucrative Rajasthan oil block that it obtained with the Cairn India acquisition. “The tenure of the RJ Block PSC has been extended for an additional period of 10 years with effect from 15th May, 2020,” the mining major said. The block was originally […]
Mukesh Ambani, the billionaire who changed the face of telecom in India in the last two years, said he has set his eyes on replicating his success in wireless telecom in the sphere of wired telecom as well. He said the 4G services launched by Reliance Jio has helped India move from the 155th of […]
InterGlobe Aviation, the company that operates Indigo Airlines, reported a bigger-than-expected net loss for the second quarter as fuel costs zoomed 84%. Net loss came in at Rs 652.1 cr for the quarter ended September 2018 compared to a net profit of Rs 552 cr last year. The “higher fuel prices [were] responsible for more […]
