India-based pharmaceuticals maker Glenmark Pharma has launched a generic version of a popular kidney cancer drug priced 96% lower than the branded version in India. Pfizer is the innovator of Sunitinib. Glenmark said its drug is launched at a price that is approximately 96% lower than the MRP of the innovator brand. Glenmark’s prices are […]
Two- and three-wheeler maker TVS Motor Co said it has appointed a new distributor for the UAE market and inaugurated a new, 2,000 sq ft showroom. The company also plans to significantly scale up its offering in the country. The new distribution arrangement was signed with Public Motors, a unit of Ghaf Investments LLC. The […]
Jewellery and accessories maker Titan Company returned to growth after nearly a year, with third-quarter sales rising 12% on year, excluding bullion sales. The total income for the quarter was Rs. 7,324 crores, including sales of gold bullion to the extent of Rs. 340 crores, compared to the income of Rs. 6,226 crores for the […]
Alembic Pharmaceuticals said a new chemical developed by one of its joint ventures has become the first new chemical entity designed by Indian scientists to win approval from the US Food & Drug Administration. Umbralisib, created by its 50% JV Rhizen Pharma, is an anti-cancer drug that works by inhibiting phosphoinositide 3 kinase (PI3K) delta […]
Zee Entertainment Enterprises reported its first sales growth figure in the post-pandemic period after advertising revenue grew by 7.5% and domestic subscription revenue rose 9.3% on a like-to-like basis. It also generated another Rs 551 cr during the quarter by licensing its content to third parties, taking its revenue growth to 33%. However, excluding this […]
HCL Technologies (HCL), one of India’s top IT services and outsourcing providers, said it has won a five-year deal to implement a digital workplace solution for the world’s largest aircraft maker Airbus. Financial details of the deal were not disclosed. Airbus is emerging as the biggest aircraft maker in the world after its long-time rival […]
Sales of Tata Motors passenger vehicles has almost doubled in January to 26,978 units from 13,894 units in January of last year — marking the highest ever monthly sales for the company. The previous high was in November, when it sold 23,617 passenger vehicles. The exact break-up of which models did how much in terms […]
In a sign of consumer spending having normalized — at least for small ticket items, Relaxo Footwears posted results for October-December that were even better than those of the same period in 2019. Revenue rose 12%, or Rs 72 cr, on year to Rs 672 cr, while net profit was up Rs 44 cr, or […]
Maruti Suzuki, the country’s largest carmaker, may soon offer a new product for companies with a large fleet of vehicles, such as taxi operators, BPOs and IT companies. The company has called for a shareholder vote on including fleet management services in its memorandum of association — the most basic document of a company that […]
Aditya Birla Fashion and Retail has taken a controlling stake in designer brand Sabyasachi for Rs 398 cr, adding to its existing portfolio of brands that include Louis Philippe, Van Heusen, Allen Solly and Peter England. It will buy a 51% stake in the company founded by Sabyasachi Mukherjee in 1999. “Sabyasachi is India’s largest […]
After several quarters, Polycab India Ltd reported a set of financial results that were decidedly less rosy than those of its primary rival Havells India Ltd. Two days after Havells reported a 39% year-on-year jump in revenue to Rs 3,175 cr, Polycab said its third-quarter revenue rose 12% on year to Rs 2,799 cr. While […]
After two torturous quarters, value-focused fashion and general merchandise retailer V-Mart reported an 81% like-to-like sales recovery for the Oct-Dec quarter. The number indicates that modern retail, with its air-conditioned showrooms, is still struggling to attract visitors unlike several other retail segments. Some of the other segments, such as automobiles, consumer durables and even some […]
Bajaj Auto Ltd, one of India’s oldest two-wheeler makers, today reported its highest ever quarterly revenue, profit and volume numbers as consumers again loosened their purse strings with COVID-19 uncertainty receding into the background. Like most other companies in India, Bajaj Auto had taken a severe beating in the first quarter (Apr-Jun) due to COVID-19, […]
Electrical goods maker Havells India Ltd reported its best ever quarter after pent up demand lifted the company’s sales and profits to unprecedented levels in October-December 2020. The company’s third-quarter revenue jumped nearly 40% year-on-year, breaking the Rs 3,000 cr mark for the first time in its history. Similarly, pretax profits zoomed 101% to Rs […]
Hindustan Media Ventures Ltd, the publisher of popular Hindi newspaper Hindustan, revealed a financial performance that suggest that the company is bouncing back faster than expectations. In what could come as a surprise to many analysts, the company’s net profit for the Oct-Dec 2020 period was in fact higher than its net profit for the […]
Mumbai-based diagnostic services provider Metropolis Healthcare today announced that it has agreed to buy Chennai-based Hitech Diagnostic Center for a cash consideration of Rs 511 cr. Hitech promoters will invest in Metropolis as part of the deal. Metropolis did not specify the price at which it would allot the 4.95 lakh shares that it will […]
Hero MotoCorp, the world’s largest two-wheeler manufacturer, announced new expansion plans for the Central American markets of Nicaragua and Honduras after appointing new distributors there. It said it has ‘aggressive expansion plans’ for the two countries, and plans to launch its range of premium motorcycles in both countries and expand its network in these markets. […]
Tata Consultancy Services, India’s largest IT and outsourcing company, said it will buy out partner General Electric from their all-women business process outsourcing company in Saudi Arabia. GE expressed a desire to exit the venture, started in 2013, according to the Indian company. The center has grown from 20 employees seven years ago to almost […]
Three weeks after warning that it will be forced to increase the prices of its automobiles, Mahindra & Mahindra today said it has implemented a 1.9% increase in the prices of its passenger and commercial vehicles. This will result in an increase of around Rs 4,000 — for the cheapest vehicle — to Rs 40,000 […]
Tata Power said it has won a Rs 488 cr order from Kerala State Electricity Board Ltd to put up a 110 megawatt solar power project in the southern Indian state. The power plant, which has the capacity to produce 110 million watts of electricity, is expected to generate about 274 million units of power […]
