Tech Mahindra, an Indian IT and outsourcing player with a special focus on telecom and media, said it will invest up to $1.25 mln (Rs 8.8 cr) to secure a 13.8% stake in a US startup specializing in 5G and related technologies. “The investment will help Tech Mahindra develop new offerings in its loT/SG capabilities […]
RattanIndia, a company focused on next-generation and disruptive businesses and led by Indiabulls founder Rajiv Rattan, said it expects to benefit from the new drone rules announced by the government this week. Government of India had, earlier this week, announced several far-reaching regulatory changes aimed at allowing people to use drones or unmanned aerial vehicles […]
Tata Power said it has commissioned a 150 million watt solar plant at Loharki in Rajasthan that will produce around 350 million units of power per year. The power will be supplied to Tata Power’s distribution arm. The estimate of 350 million units indicates a comparatively high efficiency of output. A 150 million power solar […]
A month after it started reopening its amusement parks, Wonderla Holidays announced that it would reopen its flagship Wonderla Kochi park on Sept 1. This is the third and the last of the main locations for the company that is getting reopened after the second wave of COVID-19. South India’s biggest amusement park chain had […]
Zydus Cadila said it received six-month exclusivity for the sale of generic tofacitinib, a drug that has annual sales of over $2 billion in the US. The exclusivity was provided by the US FDA, since Cadila Healthcare was the first to file an abbreviated new drug application or ANDA for the drug. An ANDA is […]
NXTDigital, the television channel aggregator, said it has signed on three MSOs in the India for its infrastructure sharing scheme, and expects the government to start approving these deals as early as this month. “There are three partner clients,” said CEO Vynsley Fernandes, speaking to investors, promising to disclose the names once the ministry permissions […]
Zydus Cadila has finally said it got Emergency Use Authorization (EUA) from Indian authorities to administer ZyCoV-D — the world’s first DNA-based COVID-19 vaccine — for both adults and teenagers. This is the first time any COVID-19 vaccine has been approved for those below 18 years of age in India. The approval has been given […]
Cadila Healthcare said it has launched a generic blood thinning medication, Enoxaparin Sodium Injection, in the US, where the drug has annual sales of around $513 mn, or around Rs 3,800 cr. With this, the company has become the first Indian firm to launch a generic version of the drug in that market. Enoxaparin Sodium […]
Vodafone Idea is hoping that it will be able to do a better job of convincing Supreme Court of India to allow the government to rectify the mathematical and compilation that crept into the calculation of its humongous regulatory levies that now threaten its very existence. A Supreme Court bench headed by Arun Mishra had […]
Vodafone Idea, the country’s third largest telecom operator, said it plans to launch a music streaming service in tie-up with a large content provider in the coming days. The service, said CEO Ravinder Takkar, would be available to all of the company’s prepaid and postpaid subscribers. The company currently has a free video streaming service […]
Noida-based IT and outsourcing services provider HCL Technologies (HCL) said it signed a five-year, end-to-end IT transformation services deal with Germany-based chemical firm Wacker Chemie AG. The size of the deal was not disclosed. Wacker CIO Dirk Ramhorst said his firm was looking to replace its current sourcing model with a “long-term Next Generation Managed […]
Gravita India Limited, a fast-growing Indian company in the area of recycling, said it has almost quadrupled the capacity of its lead recycling plant at Chittoor in Andhra Pradesh. With this, the company expects to increase its revenue by around Rs 150 cr per year. At the current run rate, that works out to around […]
Bharti Airtel said it has closed its deal to transfer CDMA spectrum to Reliance Jio Infocomm and received the money. “Airtel has received Rs. 1004.8 crores (net of tax) from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs. 469.3 crores relating to the spectrum,” the Gurgaon-based company said. The […]
Cadila Healthcare MD Sharvil Patel said the company has started stockpiling the ZyCoV-D COVID vaccine, and is in the process of providing additional data to drug regulators and hopes to get the shot approved in one or two weeks. If approved, ZyCoV-D will become the first vaccine anywhere in the world to use DNA to […]
Construction giant Larsen & Toubro sait it has sold its 3 x 33 MW hydroelectric power plant in Uttaranchal to Renew Power Private Ltd for Rs 985 cr. It said the move is aimed at allowing the company to become a more asset light organization and improve shareholder value. “This development is a significant step […]
Dixon Technologies, arguably the most successful Indian electronics manufacturer of all times, said it has decided to float a 40:60 joint venture with its customer and Japanese electronic components maker Rexxam to target both Indian and international markets. The two companies have inked a memorandum of understanding and will begin the work of thrashing out […]
Reliance Industries, India’s largest private sector company, has announced a Rs 370 cr bet on a technology that aims to rival the dominant Li-ion technology for stationary and large-scale applications. The company has invested $50 mn in a US-based startup, Ambri, to in exchange for an unspecified stake in the company. Ambri, which started out […]
Bharti Airtel, formerly India’s biggest telecom operator, announced plans to take its fiber-based broadband services to nearly every town in India over the next three years, except for the smallest of the small. The company, which is currently launching its fiber services in more than 1 new town per day, said it plans to take […]
Mahindra & Mahindra’s efforts to spruce up its utility vehicle range and stick ‘closer to its DNA’ seems to be paying off, with the new Bolero Neo notching up a robust booking over 5,000 units within the first three weeks of its launch. The first model to be based on the new back-to-the-basics philosophy was […]
Bharti Airtel, which this month increased its minimum monthly recharge price from Rs 49 to Rs 79, said it plans to continue with the price increases, targeting to take the average amount paid a single customer from Rs 146 to Rs 200 over the next six months. From this month, the company increased its minimum […]
