Fitch Ratings said the new Goods and Services Tax regime will hurt the oil & gas, pop-and-mom retail and small and medium enterprise segments, while benefiting auto, cement and organised retail sectors. However, it said it won’t revise it ratings due to this at this point. In a report titled “Varying Impact of India’s GST […]
Pakistan’s Director General of Military Operations protested Indian attacks on the Line of Control in Kashmir in a meeting with his Indian counterpart. According to a statement released by the Indian side, Pakistan complained that Indian Army had killed four Pakistani soldiers and one civilian by cross-border firing. India and Pakistan are engaged in a […]
Faced with a slowdown due to the emergence of the pan-India competitor Reliance Jio, state-owned Bharat Sanchar Nigam Ltd has halved the price of its unlimited 2 Mbps DSL broadband plan to 599 per month. The player was earlier offering unlimited 2 Mbps for Rs 1,199. Though cheap by the company’s standards, the earlier offer […]
Anil Ambani Group’s Reliance Capital said it received Rs. 378 crore from Nippon Life Insurance, one of the largest life insurers in the world, after the foreign company increased its stake in Reliance Nippon Life Asset Management Limited to 49%. The original agreement to increase the stake from 26% to 49% was announced on March […]
The demonetization of currency notes late last year has doubled the number of card transactions and helped push India’s payment digitisation by three years, State Bank of India said in a note. “Even after seven months post demonetization, the transaction value is quite large and approximately double of what it had been corresponding month last […]
Automaker Mahindra & Mahindra launched a new minivan based on its Jeeto platform, priced at Rs 3.45 lakh before taxes. At the price, the van is likely to appeal to semi-commercial users, such as schools, institutions and shops. The company already has a similar offering on its Maxximo platform, priced at Rs 3.05 lakh. The […]
The Tata Motors Group reported a 2% decline in global wholesales in June 2017. Total global wholesales for the month was at 90,966. The decline came from the commercial vehicle segment. Sales of commercial vehicles, including from Tata Motors and Tata Daewoo fell 8% year on year to 30,241. Passenger vehicles whole-sales increased by 1% […]
TP Senkumar, who stepped down as the head of Kerala’s police force a week ago, has stirred a hornet’s nest in the southern states by expressing alarm over the relatively higher fertility rate of Kerala’s Muslim community compared to others. Quoting government of Kerala’s statistics, Senkumar pointed out that 41.5% of the children born in […]
GMR Goa International Airports Limited said it closed funding for the upcoming Mopa Airport in Goa, with Axis Bank underwriting the entire debt of Rs 1,330 cr. “Having tied up funding for the project, we are working towards starting on ground construction activity post monsoon,” said Srinivas Bommidal, chairman of GMR Airports. “We are confident […]
A photo of a young Muslim girl working with the Students Federation of India, the student wing of the Communist Party of India (Marxist), has reopened questions around whether the Left movement in Kerala is straying from its ideological roots and commitments. Ameera Khan from Haripad in Kerala has shot into prominence after a photo […]
A Muslim girl who got married to a Hindu boy has come under heavy fire on social media for causing distress to her parents. Many of her former co-religionists found her decision unpalatable. “You have sacrificed the eternal for the fleeting, not because you lack education, but because you have lost discrimination. Let us hope […]
Glenmark Pharmaceuticals said it got approval from US authorities to launch a generic version of Daiichi Sankyo’s hypertension drug Azor in various dosages. The drug had annual sales of approximately $211.6 million as of May. The approval was obtained from United States Food & Drug Administration for Amlodipine and Olmesartan Medoxomil tablets in dosages ranging […]
The Indian rupee is likely to give up some of the gains it has made in recent weeks going forward, Angel Broking said, adding that the currency is likely to move towards the 65.30 level against the US dollar. The rupee has risen around 5% in the last six months due to various factors, including […]
Pharma company Lupin said it launched Moxifloxacin Hydrochloride eye solution in the US. Lupin’s Moxifloxacin Hydrochloride Ophthalmic solution USP, 0.5% (base), is an AT1 rated generic equivalent of Novartis Pharms Corp.’s Vigamox Ophthalmic solution. It is indicated for the treatment of bacterial conjunctivitis caused by susceptible strains of the organisms. Vigamox Ophthalmic solution had US […]
Zydus said it started phase II trial on its anemia drug candidate ZYAN1. The drug, a hypoxia-inducible factor prolyl hydroxylase inhibitor, is being tested as a treatment for anemia associated with chronic kidney disease (CKD). The move follows successful Phase 1 trials. A drug has to go through three phases of clinical trials before it […]
Non-banking financial services company Mahindra & Mahindra Financial Services said it plans to raise Rs 2,000 cr by issuing debt instruments to the public. The non-convertible debenture issue will open on July 10. The NCDs carry a rating of IND AAA from India Ratings and BWR AAA from Brickwork Ratings. The instruments will be offered […]
Users of the JioFi, the personal hotspot device from Reliance Jio, will be able to get a new plan that takes the free data offered per day to 5 GB. At present, the highest amount of free data that any user on the 4G service can get is 2 GB, for a payment of around […]
Zydus Cadila has received the tentative approval from the USFDA to market Sitagliptin and Metformin Hydrochloride Tablets used for controlling blood sugar levels. “This is a fixed dose combination of two anti-diabetic drugs indicated for Type II diabetes mellitus and will be produced at the group’s formulations manufacturing facility at the Pharma SEZ in Ahmedabad,” […]
Glenmark Pharmaceuticals said it received approval from UK authorities for to sell its Maloff Protect anti-malarial medication without prescription. It contains atovaquone and proguanil hydrochloride, and has been available only as a prescription medicine in the UK. The Medicines and Healthcare products Regulatory Agency gave approval for 250mg and 100mg film-coated tablets, it said. Maloff […]
Sun Pharma said it has inked a long-term agreement with Samsung BioLogics under which the Korean company will manufacture Tildrakizumab, a potential treatment for plaque psoriasis, for the Indian company. Plaque psoriasis is an autoimmune condition which results in patches of thick, red, scaly skin. The approximate value of the contract will be US$ 55.5 […]
