Sobha Ltd, one of India’s largest real estate developers, said it will build a ‘Manhattan-like’ mini city at Yadavanahalli, which lies between Electronics City and Hosur towards the south east of Bangalore. Despite its somewhat removed location, the project is targeted at the well-to-do, with the three-bedroom flats costing upwards of Rs 90 lakh. Chairman […]
Adani Transmission, a part of the diversified Adani Group, disputed a report by financial newspaper Economic Times that said that NDSL had frozen the share accounts of three foreign investors who held nearly Rs 43,500 cr worth of stock in various Adani group companies. Economic Times had carried the news quoting an update published by […]
Lupin Ltd, one of the world’s largest generic drug makers, today said it received a warning letter from the US Food and Drug Administration relating to its US-based manufacturing plant located in Somerset, New Jersey. “We wish to inform you that the Company has received a warning letter from the US FDA for the company’s […]
Branded apparel maker Arvind Fashions, which sells clothes under brands such as Arrow, Tommy Hilfiger, US Polo and Flying Machine in India, is trying a new strategy as far as its online business is concerned, said Director Kulin Lalbhai. While traditionally, garment vendors have looked at e-commerce as a way to get rid of their […]
Close on the heels of Titan Co, jeweler DP Abhushan too reported unprecedented growth during the COVID-19 impacted financial year, particularly the last three months. Against Titan Co’s 61% revenue growth, DP Abhushan Ltd reported an even higher growth of 152% in its top line for the three months ended March 2021. The company’s revenue […]
Wonderla, one of India’s top amusement park operators, reported that it had managed to recover about 77% of its revenue during the fourth and final quarter of FY21 that ended in March. The company, which operates water parks and amusement parks in South Indian states such as Kerala, Karnataka and Telangana, was able to maintain […]
Talbros, one of India’s largest automobile components makers, reported a 16% increase in its full-year revenue for the year ended March, making it one of the few companies in India to report full-year growth. Full-year growth was made possible by a whopping 73% jump in revenues for the fourth and final quarter than ended in […]
Finally, here is a piece of good news if you are in an investor in the real estate sector: Arihant Superstructures, one of the most prominent residential developers in the Mumbai region, sold a whopping 250 residential flats during the month of April and May — which coincided with the peak of the second wave […]
Baba Kalyani, chairman and managing director of India’s largest forging and metal components manufacturer Bharat Forge, today expressed the opinion that the current economic setback on account of the second wave of COVID-19 is of a temporary nature. “The lock down in India to curtail the spread of Covid has clearly had an impact on […]
SpiceJet, India’s fastest-growing airline, said it will offer a discount of up to 30% on its base fares to registered healthcare professionals, including doctors, nurses and paramedics. Base fare excludes items like airport usage charges, taxes and so on. The offer is applicable for bookings and travel until 30 September, 2021. “To avail the benefits […]
PVR, India’s No.1 film exhibitor, said it has put on hold all construction and other capital expenditure related to new projects and screens, and issued a profit warning for the current quarter on account of the ongoing COVID-19 pandemic. “The Company opened 13 new screens in FY’21 which were already under fit-out prior to lockdown. […]
Bharti Airtel said its Africa unit, Airtel Africa, has sold around 1,400 telecom towers in Tanzania to a joint venture company of SBA Communications Corp and Paradigm Infrastructure Ltd for $175 mn, or around Rs 1,280 cr. SBA Communications Corp is a leading global independent owner and operator of wireless communications infrastructure, while Paradigm is […]
Mumbai-based pharmaceuticals manufacturer Wockhardt officially confirmed that it is indeed in negotiations with multiple companies to explore the option of manufacturing their COVID-19 vaccines. The confirmation comes in the wake of recent media reports quoting government sources that the company had suggested to the government that it can divert some of its manufacturing capacities for […]
AstraZeneca India, which entered into a licensing deal with Sun Pharma for a key diabetes drug, said that it had terminated a distribution agreement for the same drug with Abbott Healthcare. The drug, dapagliflozin, was being supplied to Abbott Healthcare by the Indian unit of the British-Swedish company under a distribution agreement, which has now […]
AstraZeneca Pharma India, the local unit of the global pharmaceuticals giant, said it has decided to end its marketing agreement with Indian pharmaceutical giant Sun Pharma for two diabetes medications after the Indian company acquired a license to manufacture the same locally. In a separate statement, Sun Pharma said it has acquired the patent license […]
Delhi Police today said it only wanted to ask Twitter for any information the company had about the so-called manipulation of a ‘toolkit’ that was allegedly prepared by the main opposition party, Indian National Congress. It also accused Twitter of refusing to hand over “material evidence” about manipulation of the photographs contained in some BJP […]
ICICI Bank’s Pockets wallet has become the first financial institution in India to be permitted to offer UPI IDs in its own name and make transactions directly without routing it via a bank account. So far, UPI IDs were reserved only for those who have an account with any recognized Indian bank, including co-operative banks. […]
Inox Leisure, one of India’s top cinema chains, said it plans to add 8,850 seats across 11 new properties to its multiplex chain in the ongoing financial year, taking the total seats to 1.56 lakh by March. These 11 new properties would bump its screen count by 49 to 692. Out of the 49 new […]
Zydus Cadila, the pharmaceutical arm of the Zydus group, said it has launched a next-generation breast cancer drug in India at a fraction of its existing cost. The drug, Trastuzumab Emtansine, is considered the first targeted chemotherapy drug for breast cancer as it directs the cytotoxic activity at cancer cells by using a known biomarker. […]
Less than a month after it approved for clinical trial approval, Hyderabad-based Natco Pharma said it has begun dosing patients in its phase III clinical trial for molnupiravir, a promising candidate for treating COVID-19 that is being studied across the world. Phase III trial data can be submitted to regulatory agencies for seeking approval of […]
