Kerala Blasters, one of the prominent teams in Indian Soccer League, has signed up Havells India brand ‘Standard’ as one of its co-sponsors. The financial details of the deal were not disclosed. However, it should come as a positive for the new owners of the team — Nimmagadda Prasad, Chiranjeevi and Allu Arvind, who took over […]
IDBI Bank said its board of directors has approved the issue of shares to Life Insurance Corporation of India to make the latter the majority shareholder in the bank. The insurer will hold 51% of the total shares of IDBI Bank once the issue is completed, it added. The Bank had around 418 cr shares […]
Jindal Steel and Power Ltd reported a 53% jump in crude steel sales for the September quarter compared to the same quarter last year. It sold 1.27 million tons of crude steel during the quarter, up 7.6% compared to the March quarter, and well clear of the 0.83 million tons recorded in the same quarter […]
Maruti Suzuki India Limited said it is recalling 640 units of its Super Carry small cargo vehicles manufactured between 20th Jan 2018 till 14th July 2018 to rectify a possible defect in fuel pump assembly. Starting today, owners of the vehicles included in this recall campaign will be contacted by Maruti Suzuki dealers for inspection and […]
Hindustan Construction Company Ltd said its joint venture with Hyundai Development Corporation has won the contract to construct the Mumbai Coastal Road Project between Haji Ali and the Bandra Worli Sea Link, worth Rs 2,126 crore. The contract forms one of the three packages within the first phase of the highway. Construction on the first phase is […]
Tata Motors reported a 20% growth for September to 64,598 vehicles, led once again by the commercial vehicle segment. The 20% overall growth is, however, below the 40% growth seen for the first six months of the current financial year. Following the recent trend, growth was led by the commercial vehicle division, which saw sales […]
Pharmaceuticals maker Lupin said it will distribute US-based Eli Lilly and Co’s Aplevant (dulaglutide), a once-weekly injection for type 2 diabetes treatment. Lupin said it expects to make Aplevant available in India this month itself. The two companies already have a partnership dating back to 2011. With this, said Lupin, the partnership has been expanded […]
Ashok Leyland, one of India’s top three commercial vehicle makers, reported strong auto sales for September. Total medium and heavy commercial vehicle sales rose 21% to 14,232 units in September, compared to 11,805 in the same month last year. Light commercial vehicle sales were up 44% at 5,141 units compared to 3,566 last year. Despite […]
Puravankara Ltd, one of India’s largest real estate developers, said one of its associate companies will buy a 7.6 acre plot in Bangalore’s Yeshwantpur from international retailer Metro to develop a commercial complex. The deal will be carried out through Keppel Puravankara Development Private Limited, a joint venture between Puravankara and Singapore’s Keppel Land in which the […]
Parag Milk Foods said the government’s move to increase subsidy on the export of milk and milk products will help the company’s exports. The Government of India has increased the export subsidy benefit on milk & milk products from 10% to 20% as part of its efforts to spur exports and bring down the trade […]
The Supreme Court has struck down the 160-year-old law that sought to punish men for having sex with the wife of another man. Section 497 of the IPC has been held to be unconstitutional. It also said thinking of adultery as a crime is a retrograde step. “This means that in a matrimonial dispute, no […]
An order by Supreme Court Justice DY Chandrachud today issued detailed guidelines on the proposed live-streaming of court proceedings. The guidelines include the kind of cases that are prohibited from being streamed, and instructions on what can be and what should not be broadcast. The following are the instructions given by Justice Chandrachud today. First, […]
Hero MotoCorp, the world’s largest two-wheeler manufacturer, said it will increase the price of its two-wheelers from October 3. The prices of its motorcycles and scooters could go up by up to Rs 900 per unit. “The revision has been necessitated by the increasing commodity costs and currency depreciation. “The price hike will translate to […]
State Bank of India, the country’s largest bank, said it has approved the sale of a 4% stake in its general insurance arm to Premji Invest and Axis Asset Managment for Rs 481.73 cr. SBI General Insurance is an unlisted subsidiary of the bank. SBI recently concluded a successful IPO for its life insurance unit, […]
The Catholic Church in Kerala withdrew action against Sister Lucy Kalappura, who came out publicly in support of the five nuns who sat on protest against Bishop Franco Mulakkal in Kochi for two weeks. The withdrawal followed strong protests by parishioners belonging to Karakkamala, which comes under the Manathavady Diocese in Wayanad district of Kerala. […]
The Union urban development ministry today countered allegations that the government was trying to extend favors to real estate developers in NOIDA in the name of helping flat-buyers. The NOIDA and Greater NOIDA areas adjoining Delhi have seen many developers run into severe financial difficulties after the government cracked down on the use of illicit […]
ICRA, a part of Moody’s Investors Service, revised its outlook on YES Bank’s borrowings to ‘stable’ from ‘positive’ on the basis of the Reserve Bank of India’s direction last week cutting short the tenure of the company’s CEO Rana Kapoor. “The revision in outlook to stable from positive considers the recent direction from RBI whereby […]
Amara Raja Batteries, India’s largest battery maker, said it has agreed to license stamping technology from Johnson Controls, one of the world’s largest automotive parts makers, used to make lead acid batteries. “The company has entered into an agreement with Johnson Controls Technology Company (JC), USA for acquiring the license for manufacturing advanced stamped grid […]
Biocon, one of India’s foremost research-oriented pharmaceutical companies, said the US drug regulator has completed an inspection at its Bangalore facility without remarks. “The US FDA conducted a periodic cGMP inspection of our Drug Substance manufacturing site at Bangalore Campus from Sep 17 – 21, 2018. “The week-long audit concluded without any observations and no […]
Nagarjuna Fertilizers and Chemicals said it is facing working capital issues that are preventing it from operating its plant. “..the company had taken plant maintenance activities on July 4, 2018,” it said in a statement today. “The shutdown had to be extended due to inadequate working capital on account of Direct Benefit Transfer (DBT) and accumulated […]
