DB Realty Ltd said a civil judge in Thane has dismissed a petition by the central government that disputed the company’s ownership of 244 acres of land next to the Mira Road railway station in Mumbai, one of the fastest growing suburbs of the city. The court “dismissed the suit filed the Uol (Union of […]
Oil and Natural Gas Corporation Ltd, India’s largest hydrocarbon producer, said it plans to spend Rs 17,615 cr on drilling activity in the current financial year. This is a 24% increase over the Rs 14,200 cr spent in the year ended March. The company also set a record in financial year 2017-18 by drilling the […]
Adani Group said it appointed Anil Sardana, who stepped down as Tata Power CEO three months ago, as the new CEO of its power transmission and distribution business just as it gets ready to take on the Tatas in Mumbai. Two months ago, Adani announced an agreement to purchase the transmission and distribution business of […]
Zydus Cadila, one of India’s largest pharmaceuticals manufacturers, said it got the the final approval from the US Food and Drug Administration to market Bumetanide, used to treat swelling. The drug is used for treating edema, or the swelling of legs, feet, hands or other parts due to the accumulation of excessive fluid in the […]
Tata Motors reported monthly sales of 53,511 vehicles in April, up compared to 28,844 vehicles in the same month last year, but down from 69,440 in the previous month of March. Last year, April had seen confusion with regard to the Supreme Court ruling on BSIII to BSIV transition, which had kept the sales in […]
Television broadcaster NDTV Ltd said it was selling part of its stake in Red Pixels Ventures Ltd, an online focused subsidiary, to pay rent and meet other working capital requirements. NDTV Ltd holds about 37.04% of the online-focused outfit. NDTV said its board has approved the transfer of “up to 7.38% stake of the company […]
Steel and pipe manufacturer Prakash Industries reported a 45% jump in fourth-quarter sales and a 140% improvement in its operating profi, largely due to a steady improvement in steel prices. The company had sales of Rs 910 Crores and EBIDTA of Rs 210 Crores for the March quarter. With this, the full year sales is […]
The Andaman & Nicobar Island Administration can look forward to taking delivery of its two 500-passenger vehicles as the erection, or final welding, process has begun at the Cochin Shipyard. During the shipbuilding process, each ship block is brought to the building dock, where they are erected with cranes. After each erection, welding is carried […]
Indian Oil Corporation said it will set up a unit at its Paradip refinery to manufacture the main ingredient used in the production of polyester. The plant to manufacture ethylene glycol will be set up in Paradip in Odisha at a cost of Rs 4,221 cr, the company said. Ethylene Glycol is used to manufacture […]
Mahindra & Mahindra launched two high-power tractors under its Novo brand. The 65 horsepower variant with two-wheel drive has a starting price of Rs 9.99, while the 75 HP variant with four-wheel drive costs Rs.12.5 lakh. Currently most of the tractors available in India are in the 30-40 horsepower range. Like most tractors sold in […]
Asaram Bapu, the religious leader popular in many parts of North India, has been held guilty of assaulting a 16-year-old girl at his ashram near Jodhpur earlier that year and was later sent to the Jodhpur Central Jail. The verdict was pronounced by the Scheduled Caste and Scheduled Tribe court in Jodhpur, Rajasthan. “We haven’t […]
Malaysia’s IHH Healthcare has come out with a binding offer to invest Rs 650 cr in Fortis Healthcare, and follow it up with Rs 3,350 cr after conducting three weeks of due diligence on the company’s account books. The move competes with offers such as the Rs 1,500 cr offer from the combined team of […]
The United States Food & Drugs Administration has closed its audit of the UK manufacturing plant of Dr Reddy’s Laboratories, the Indian pharmaceutical company said. In September last year, the company had announced that the US FDA issued a Form 483 with three observations regarding operations at the pharmaceutical drug manufacturing plant at Mirfield, leading […]
Pharma major Lupin said it received final approval for to launch a generic version of Valeant Pharmaceuticals’ Xenazine in the US. Tetrabenazine Tablets, 12.5 mg and 25 mg, has annual sales of approximately USD 288.1 million in the US, according to IQVIA. The tablet is indicated for the treatment of chorea, or involuntary movements associated […]
Water pipe manufacturer and construction company Indian Hume Pipe Co said it has won a Rs 578.50 cr order from the Madhya Pradesh government. The order was from Madhya Pradesh Jal Nigam Maryadit for Kundaliya Multi Village Rural water supply scheme in Rajgarh district, it added. This is the second major order the company reported […]
Hospital chain Fortis Healthcare said it has set up a special committee to evaluate the bids submitted by various parties to invest money into the company. It said the company has received binding offers from the Manipal – TPG consortium and the Munjal & Burman family offices, while non-binding expressions of interest has been received […]
Anil Ambani Group’s Reliance Infrastructure Limited said it received a Rs 774 cr contract to build 105 km of railway track, including 13 railway stations and staff quarters. The order from Rail Vikas Nigam Limited is the first from the firm to be awarded to the Anil Ambani company. The scope of work includes Civil, […]
Parag Milk Foods Ltd said it purchased the manufacturing plant of French dairy giant Danone in Sonipat near Delhi. The Mumbai-based company has so far been supplying the North Indian market from its factory in Maharashtra. The plant’s current milk processing capacity is 0.75 LLPD (Lakh Litre Per Day) along with curd processing capacity of […]
Cement maker UltraTech said it has commissioned a greenfield clinker capacity of 2.5 million tons per year at Manawar in Madhya Pradesh. Clinker is raw cement made by heating ground limestone and clay at a temperature of about 1400 °C – 1500 °C. Cement is made by grinding the clinker and adding gypsum to control […]
Cement maker ACC reported a 14% increase in its sales for the March quarter, boosted by an 8% increase in cement volumes and a 16% jump in ready mix volumes. Lifted by the top line growth, margins improved across the board, lifting net profit by 18.5% to Rs 250 cr for the Jan-Mar period. Sales […]
