Suven Life Sciences said it has obtained one product patent each from China and the US related to its 5-HT4 and 5 HT6 compounds. These patents add to the similar protections won in countries such as India, Korea, Singapore, Canada, Japan and Australia in the past. The Chinese patent has the number CN105814020 and the American […]
Larsen & Toubro said it received three new construction orders worth Rs 2,210 cr. Two out of the three, worth Rs 2,044 cr, were in the area of water and effluent treatment, while the remaining one was for constructing a dam across the river Runj in Uttar Pradesh. Among the deals was “a major turnkey […]
The Union Government of India has, for the first time, invited people who are not part of the Indian Administrative Service or IAS to join as top bureaucrats in the central government. The Department of Personnel and Training has invited anyone with 15 years of expertise in areas such as finance, energy and commerce to […]
Market research firm CyberMedia Research has called the OnePlus 6, the latest smartphone from the eponymous Chinese start-up, the ‘finest Android smartphone out there today’. In a note trying to explain the success of the Chinese company in markets like India, Prabhu Ram, head of Industry Intelligence Group at the firm also called it the […]
Indian pharmaceutical giant Cipla Ltd said it would sell Eli Lilly and Co’s insulin glargine in India. Insulin glargine is a long-acting basal insulin analogue, given once daily to help control the blood sugar level of those with diabetes. Unlike regular insulin shots — which have to be taken multiple times a day — basal insulin releases […]
PVR Ltd, India’s largest cinema chain, became even bigger today with the opening of a 5-screen multiplex at Vellore near Chennai, taking the total screens to 630. The latest property has been opened at Velocity, Silk Mill, Gandhinagar and has a total seating capacity of 906 and an area of 24,000 sq. ft.. Vellore is […]
Pharmaceuticals maker Zydus Cadila said the USFDA has completed an inspection of its injectables manufacturing plant at Ahmedabad with zero observations. No observations is good news for pharma manufacturers as it indicates that the inspectors found everything to order. The inspection of the plant, located at an SEZ in the city, was conducted between May […]
Bharti Airtel said users would soon be able to link their multiple Airtel accounts and get one single bill for all of them. Called ‘Airtel Home’, the scheme will also entitle the customer to a discount of “up to” 10% on the total amount. Airtel Home is currently available as a beta version for Airtel […]
Fitch Ratings has downgraded the ‘viability rating’ of scam-hit Punjab National Bank by two notches to ‘b’ from ‘bb-‘, citing a sharp rise in loan defaults. However, the bank’s ‘default rating’ has been kept at BBB-, given the high probability that the government of India will lend support in case of such an eventuality. “The […]
Automobile wheel maker Steel Strips Wheels Ltd said it has got an order worth about Rs 2.9 cr to supply 9,500 truck wheels to the US. It said the order is from from a US-Truck & Trailer Aftermarket player. The products will supplied out of the company’s Chennai plant and will be shipped this month. […]
NLC India Ltd, formerly known as Neyveli Lignite Corporation Ltd, said it has been able to reduce the price of its power by another Rs 35 to 58 paise per unit from this year due to improved efficiency and lower taxes. This is in addition to the 45 to 75 paise already reduced due to the […]
Acharya Balkrishna, the owner of Patanjali Ayurved — one of India’s biggest consumer products companies — clarified that his company was not advocating a boycott of foreign ideas, concepts or even capital in the name of going Swadeshi. Speaking at the India Economic Conclave in Mumbai, Balkrishna even said his company was even open to […]
Mahindra & Mahindra reported flat utility vehicle sales in May despite unveiling the new XUV500, indicating that the success of competitors like Maruti Suzuki’s Brezza may be eating into M&M’s market share. Total UV sales remained flat in May at 19,295 units compared to 19,331 last year. In comparison, UV sales had jumped 11% to 20,371 […]
Maruti Suzuki reported one of its strongest auto sales performances in recent months for May, with total passenger vehicle sales up 24% at 1.615 lakh. Total vehicle sales in May were up 26% at 1.725 lakh, compared to a rise of 14% reported for April. The growth continued to be driven by the ‘compact’ category, […]
ICICI Bank said it did not ask its managing director, Chanda Kochhar, to go on leave nor has it appointed any search committee to find her successor. “She is on her annual leave which was planned in advance,” it said in response to media queries. The bank’s stock has been trading up by about 2.5% […]
Bajaj Auto posted a strong increase in auto sales for May, following on from a similar performance in April. Total auto sales for May were up 30% at 4.07 lakh unit versus 3.14 lakh last year, while motorcycle sales were up 24% at 3.43 lakh versus 2.77 lakh. Domestic sales of motorcycles were up 23% […]
The coveted finance portfolio of the newly formed Congress-JDS alliance is likely to be retained by chief minister H D Kumaraswamy, while Home is likely to go to the Congress, according to sources. The two alliance partners have been in talks for several days on dividing the various portfolios between themselves. It has already been […]
India’s largest technology retail chain Reliance Digital said it signed an agreement to sell all Motorola products at its outlets. At present, Motorola is largely an online-focused brand. Motorola, which used to be a big brand in the country in the 1990s and 2000s, lost out to Korean players like Samsung and LG about 10-12 […]
Manpasand Beverages denied charges that it had denied data to its auditor Deloitte Haskins & Sells, but disclosed the resignation letter of the auditor that contained charges to the effect. The beverage maker is under a cloud after news of the resignation broke, and its stock has fallen from around Rs 430 on Friday to […]
Fortis Healthcare Ltd said it has decided to call for fresh bids for investing into the company for a controlling stake. The move follows a messy proposals and counter-proposals by the three main bidders — a team of promoters of Hero MotoCorp and Dabur, TPG-Manipal group and IHH Healthcare of Malaysia. Interestingly, the company had […]
