Pharma major Lupin said that its US subsidiary, Lupin, Inc has acquired Symbiomix Therapeutics, LLC for a cash consideration of USD 150 million including a USD 50 million upfront and other time‐based payments. In addition, there are sales based contingent payments. Lupin had entered into an option to acquire the company earlier this year. Symbiomix […]
The Indian supreme court has held that sexual intercourse with a girl below the age of 18 years will automatically qualify as rape, even if the woman is the wife of the accused. At present, it is considered rape only if the wife is below 15 years. The ruling, by a bench headed by Justice […]
Construction major Larsen & Toubro said it won a ₹ 1150 crore contract from Oil & Natural Gas Corporation (ONGC) for the transportation & installation of the oil company’s Daman Development Project. The Contract, won against international competitive bidding, encompasses total ‘EPCIC’ – Engineering, Procurement, Construction, Installation and Commissioning for the project, the company said. […]
Tata Teleservices Maharashtra Ltd has lost 3.5% of its mobile subscribers in September. The company, which offers mobile and wired telecom services in Maharashtra, Mumbai and Goa saw its mobile users fall to 69.8 lakh (6.98 mln) on September 30 from 72.4 lakh at the end of August. The decline comes at a time when […]
State Bank of India, the country’s largest bank, said Moody’s Analytics will train its employees to source, appraise and monitor loans. SBI employees will be granted the Moody’s Analytics Certificate in Commercial Credit (CICC) as part of the program. The program has been adapted to the India’s banking sector with the help of former SBI […]
Tata Elxsi, the hardware design company from the Tata stable, has tied up with Unity Technologies to set up a center that will develop solutions based on the Unity visualization engine. The Unity platform is arguably the most widely used engine for developing mobile phone games and can also be used to develop 2D and […]
The Tata Motors said group global wholesale rose 14% in September to 1,16,419, including numbers for Jaguar Land Rover. Commercial vehicle wholesales, including Tata Daewoo, rose 20% to 41,503. Global wholesales of all passenger vehicles in September 2017 were at 74,916, higher by 10%, compared to September 2016. Within passenger, wholesales for Jaguar Land Rover […]
The much anticipated ‘bezelless’ phone from Xiaomi, Mi Mix 2, has been launched in India at a price of Rs 35,999 for the 128 GB version. The phone is, without doubt, the most affordable bezelless device in India. In comparison, the Samsung Galaxy S8 — which has thin bezels on the top and the bottom […]
VA TECH WABAG, a construction company that focuses on water project, denied reports that it was insolvent and said it was appealing the recent order of the Chennai bench of National Company Law Tribunal. The bench, at its hearing held on 6th October 2017 has passed an order for initiation of Corporate Insolvency Resolution Process […]
Reliance Infrastructure said it has entered exclusive negotiations with Adani Transmission Limited for the sale of its power distribution business in Mumbai. The deal involves its integrated business of generation, transmission and distribution of power for Mumbai City, the Anil Ambani company said. Just yesterday, it said its deal to sell its transmission assets under […]
Suven Life Sciences Ltd said it was granted a patent by New Zealand authorities for “a class of selective 5-HT4 compounds” that are being developed to treat neurodegenerative diseases. The compounds are being explored for use in cases of Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia, it said. The new […]
The U.S. Food and Drug Administration has sought more data before approving a chemotherapy compound submitted by Mylan and jointly developed by Biocon. The agency issued a ‘complete response letter’. Such letters are issued when an FDA review an FDA review finds that an application for a new drug cannot be approved ‘in its present […]
Pharma manufacturer Lupin said it received approval to launch the generic version of US World Meds’ Corgard heart drug. Nadolol Tablets USP, 20 mg, 40 mg, and 80 mg Tablets had annual sales of approximately USD 109.8 million in the US, the Indian drugmaker said. Lupin’s Nadolol Tablets are the AB rated generic equivalent of […]
Reliance Infrastructure Limited said it signed an agreement to transfer some of its transmission assets, under the Western Region System Strengthening Scheme (WRSSS), to two of its subsidiaries ahead of their sale to Adani Transmission Limited. In December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission Limited for sale of WRSSS valuing […]
Anil Ambani Group’s Reliance Capital Indian Renewable Energy Development Agency Limited (IREDA) will make available Rs 300 cr for lending to renewable energy and energy efficiency projects. IREDA is a Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). Reliance Commercial Finance Limited, the company subsidiary that operates […]
The Gujarat High Court has upheld the conviction of a special court that found 31 people to be involved in a conspiracy to commit the arson attack on the train. However, eleven death sentences were commuted to the life terms. The victims or the kins have been ordered to be compensated by up to Rs […]
Adani Enterprises Limited said it will demerge Adani Green Energy Ltd by cancelling the shares it holds in the subsidiary and issuing new shares directly to the shareholders of the parent company. Shareholders will get 761 shares of the new company for every 1,000 shares they hold in the parent company. They do not have […]
Doklam is in the news again, 40 days after the Chinese pulled back their construction equipment on the border plateau in deference to Indian sensitivities. With two weeks to go for the crucial National Congress of the Communist Party of China, India’s northern neighbor has again started construction activity near Doklam. Apart from some verbal […]
Mitashi, the Mumbai-based electronics brand known for its value-for-money offerings, launched a 55-inch curved 4K TV with a Samsung panel at Rs 79,990 in India. The device is the cheapest such television in the Indian market. Its closest competitor is the Samsung 49Ku6300, which is also priced at Rs 79,990. However, since the Samsung model […]
Mahindra and Mahindra Financial Services said the company board has approved a proposal to raise up to Rs 2,250 cr by selling shares or instruments convertible to shares. It said a Securities Issue Committee has been set up to undertake decisions in relation to the proposed issuance. Mahindra & Mahindra Financial Services Limited (MMFSL) is […]
