India’s largest oil and gas producer said the move by the Competition Commission of India to initiate a full investigation into the way the company hires offshore support vessels will have no material impact on the company. Under SEBI guidelines, listed companies must disclose any development that will have a material impact on the company […]
Air conditioning company Voltas said Voltbek, its joint venture with Turkey’s Ardutch, will set up its first factory to produce refrigerators and washing machines in Sanand in Gujarat. The two companies had announced a joint venture agreement a year ago. “Voltbek has today laid ground to start construction of their first manufacturing facility, spread over […]
KPR Mill Limited, which makes yarn, garments and sugar, said it has decided to enter into what it called ‘branded retail business’. “We wish to inform you that KPR plans to enter into branded retail business,” the company said in a regulatory filing. “(We have) initiated building up the retail business team,” it said. However, […]
Mall developer The Phoenix Mills Ltd said it purchased an under-construction 1.1 mln sq ft mall in Indore from an asset reconstruction company for Rs 234 cr. The Mumbai-based company said it will christen the mall Phonenix MarketCity Indore and it will be ready by around the end of financial year 2021. “80% of the […]
A consortium of three companies — Capacite Infraprojects, Tata Projects and CITIC Construction said they have received a Letter of Acceptance from Mumbai Housing and Area Development Board for the redevelopment Mumbai’s BDD Chawls — the biggest such project in India. The redevelopment of BDD chawl involves the tearing down 121 chawl buildings that are […]
Bharti Airtel has started offering Google’s flagship smartphone, Pixel, on its online store at an EMI of Rs 2,799. Both the Pixel 2 and Pixel 2 XL are available, but have different down-payments. The Pixel 2 requires a down-payment of Rs 10,599 for the 64 GB version and Rs 12,599 for the 128 GB version. […]
Drug maker Cipla said it received final approval for selling a generic testosterone injection in the US. Cipla’s Testosterone Cypionate Injection 100mg /ml and 200mg /ml is an AO-rated generic equivalent version of Pharmacia and Upjohn’s Depo-Testosterone. Depo-Testosterone and its generic equivalents h ad US sales of approximately $191 M, according to IQVIA. The drug […]
Kerala has emerged as the state with the highest smartphone penetration in the country, according to data released by CyberMedia Research, a market intelligence firm tracking the technology sector. CMR’s data also reveales that on a pan-India level, about 47% of the mobile phone users in India are on smartphones, with the remaining 53% still […]
Omar Abdullah, leader of National Conference party, is currently holding talks with Jammu & Kashmir governor N N Vohra, leading to speculation that a ‘mahagatbandhan’ or grand alliance of non-BJP parties could be on the cards. The PDP government in the state can continue to rule if the National Conference lends its support. Traditionally, National […]
The Bharatiya Janata Party has pulled out of the ruling coaltion with People’s Democratic Party or PDP, days after prominent journalist Shujaat Bhukhari was gunned down by suspected terrorists. BJP spokesperson Ram Madhav pointed to three factors that prompted the party to pull out — rising terrorist incidents, poor law and order and an imbalance […]
Zydus Cadila, one of India’s largest drug makers, said it has received tentative approval to market tadalafil, the generic ingredient of the most popular erectile dysfunction drug Cialis, in the US market. The drug will be manufactured at the group’s facility at Moraiya, Ahmedabad. The USFDA approval comes weeks before Cialis is expected to lose patent […]
Glenmark Pharmaceuticals received a boost for its plans to manufacture drugs within the US, with the FDA approving the first generic manufacturing application from the facility. The FDA approved the manufacturing of Atovaquone and Proguanil Hydrochloride Tablets at its Monroe, North Carolina facility via a supplementary ANDA (drug application). “This approval is an important milestone for our […]
AU Small Finance Bank said it received its shareholders approval for Singapore-based Temasek to invest around Rs 1,000 cr in the bank for a stake of around 5%. “This is the largest primary capital infusion in AU Bank and its first ever since their last raise in fiscal 2012,” said the bank, which went public […]
Indian Pharma major Lupin said it has signed an agreement with Japan-based generics maker Nichi-Iko to market its upcoming biosimilar drug, Etanercept, in the far eastern nation. Etanercept, already approved in the US, is used to treat inflammatory conditions. It is pending approval in Japan and Europe. According to Lupin, the non-US market for Etanercept […]
YES BANK, India’s 4th largest private sector Bank, said it has received approval from Securities and Exchange Board of India (SEBI) for acting as Custodian of Securities, allowing it to act as an intermediary for foreign institutional investors or FIIs. “The Custody business will allow the Bank to comprehensively service the Foreign Portfolio Investors (FPis), […]
Indian IT outsourcing company Wipro said telecom equipment maker Nokia had moved to the sales order platform designed and operated by it as part of a multi-year outsourcing deal. The company also said it was bringing Latin American cargo company to LATAM Cargo on to its supply a cargo management platform. The size of the […]
K Raheja Corp, one of India’s biggest real estate developers, announced the launch of the fourth tower of its Raheja Vistas project in Nacharam in Hyderabad East. The tower will have 12 storeys and offer 2- and 3-bedroom flats starting at Rs 40 lakh each. “With the first three towers sold out we are confident […]
Alembic Pharmaceuticals said the USFDA has permitted it to sell antibiotic doxycycline in the US market. Doxycycline Hyclate Capsules USP, 50 mg and 100 mg, are considered a medium sized drug from a market perspective and had sales of US$ 80 million in 2017, according to IQVIA. It is sold by Pfizer under thebrand Vibramycin. […]
Maharashtra Navnirman Sena, the party floated by politician Raj Thackeray, has started selling petrol at select pumps in Mumbai at a discount of Rs 9.30 per liter as part of a protest against the high price of fuel. The actual price of petrol in Mumbai is Rs 84.26, while the MNS is selling petrol at […]
Fortis Healthcare said it has cancelled its plan to demerge and list its diagnostics arm, SRL Ltd, and will withdraw the concerned application before the authorities. “The Scheme is currently pending for approval with the National Company Law Tribunal, Chandigarh Bench. Further, the entire process was expected to take 6-8 months, however, due to reasons […]
