Pharma major Strides Shasun denied rumors that its auditors had resigned. The rumors, coming close on the heels of a similar development at Manpasand Beverages, had impacted the company’s share price today morning. Shares of Strides Shasun fell to a low of Rs 397 compared to the close of Rs 423 yesterday, before making up […]
A Dalit Christian boy has been killed in Kerala three days after he married a girl belonging to an upper caste Christian family, allegedly by the girl’s relatives. The body of Kevin was found in a stream today morning, 24 hours after the boy was abducted from his relatives’ house by a group of around […]
Pharma giant Zydus Cadila said it received final approval from the US Food and Drug Administration to sell a skin ointment and an ulcer tablet in the country. Ointment Nystatin is used to treat fungal skin infections and will be manufactured at the group’s Topical manufacturing facility at Ahmedabad. Capsule Omeprazoleand Sodium Bicarbonate is used […]
BSE, formerly known as Bombay Stock Exchange, said it has signed an agreement with the Indian unit of global logistics player Brink’s to provide storage for the upcoming gold and silver trading platform of the BSE. As part of the agreement, BSE will recognize some of Brink’s India’s vaulting in India as BSE storage and […]
Construction major Larsen & Toubro said one of its joint ventures won a Rs 3,191 cr contract to design and build electrical and mechanical systems for the upcoming line 6 of the Dhaka Metro rail system in Bangladesh. L&T has secured the order in JV with Marubeni Corporation (Japan) through a competitive bidding process. Line […]
In the first such case in Delhi, tax authorities arrested a city-based father and son duo for issuing input tax credit invoices without supplying anything to their ‘clients’. Under the GST regime, any company can get a reduction in the tax they have to pay if they produce receipts of raw material purchase, to the […]
ABS Free Dish, the free DTH service run by a Bermuda-based company of the same name, has shut down its signals over India. The service used to quite popular in the southern and eastern parts of India as the only other free DTH service — DD Free Dish — was almost entirely focused on the […]
YES BANK said it has been approved as a clearing bank for the National Stock Exchange, adding to similar status with other exchanges like the BSE, MCX and NCDEX. India’s fourth largest private sector bank said it will provide “comprehensive settlement & clearing services” under its mandate as a clearing bank for the NSE. The […]
DQ Entertainment, creator of children’s TV animations such as Jungle Book, said it decided to open several indoor theme parks in India. The company signed a franchisee agreement with India-based Chiliad Procons to open the theme parks, which it said would be of world standard. “It’s as close as India gets to a Disneyland equivalent,” […]
Larsen & Toubro said it received a ₹1,425 crore order to build 23 km of highway in Gujarat. “The (construction) business has secured an order from a prestigious private client for the construction of eight lane Vadodara – Kim Expressway, package I (part of Vadodara Mumbai Expressway) in the state of Gujarat,” it said. The […]
Yes Bank said it recovered 66% of its total claim of Rs 325 cr from bankrupt steelmaker Bhushan Steel after it was taken over by Tata Steel. “With this recovery, the Bank now has an exposure to only one account, aggregating to only Rs 23.4 Crores (with 50% provision) as on March 31, 2018, from […]
State Bank of India, the country’s largest bank, reported a sharp increase in its quarterly net loss in Jan-Mar after setting apart a whopping Rs 24,080 cr in the three months to cover bad loans extended by the company in the past. Even excluding the write-off and provisions, the company’s operating profit was down compared […]
Larsen & Toubro said it has won construction orders worth ₹ 4,033 crore under its its Buildings & Factories division. Among the orders is one to build 1,125 residential towers of four storeys each under PMAY Scheme at Visakhapatnam, Prakasam, Guntur, and Krishna Districts in Andhra Pradesh. It also won another government order to establish […]
Kishore Biyani-promoted Future Retail has bought Foodworld, a supermarket chain that is popular in Bangalore, for Rs 40.79 cr in cash. The acquisition of the grocery-focused retail chain will strengthen Biyani’s existing portfolio of super markets, particularly the smaller stores under the EasyDay brand. Foodworld had revenue of Rs 119 cr for the year ended […]
L Catterton Asia, the Asian unit of the consumer‐focused private equity firm, will take a stake of around 10% in Future Lifestyle Fashions Ltd, the company that operates the Brand Factory and Central fashion stores in India. The valuation or the amount invested was not revealed. However, Future Lifestyle Fashions has an equity market value […]
Arnab Goswami, head of Republic Channel, has urged the Karnataka Chief Minister BS Yeddyurappa to resign instead of facing the trust vote. “We at Republic feel that the game is slipping away from the BJP,” he said. “The fact is that the BJP cannot go on this route that we are the largest party and […]
BJP sources are reported to have started indicating to media that the party is not interested in winning ‘by hook or crook’ and may not go through with the trust vote if it is not able to garner the requisite numbers. The move indicates that the ruling front may have failed to achieve its target […]
The Supreme Court has refused to remove BJP leader KG Bopaiah as the temporary speaker of the Karnataka Legislative Assembly, but restrictions on the live broadcast of the trust vote on TV channels have also been removed. The same bench that had earlier directed the trust vote to be conducted today also said that the […]
India-based Sun Pharmaceutical Industries said it has launched an authorized generic version for Daiichi Sankyo’s cholesterol drug Welchol in the US market. The drug, whose compound name is colesevelam hydrochloride, had US sales of approximately US$ 520 million for the 12 months ending March 2018, as per IQVIA, the company said. The launch of the […]
Pharma player Suven Life Sciences said it received two patents from Australia and one from Singapore for new drugs that can be used for the treatment of disorders associated with Neurodegenerative diseases. “The granted patents include the class of selective H3 Inverse agonists and 5HT 6 compounds respectively and are being developed as therapeutic agents […]
