Indian car manufacturer Mahindra and Mahindra reported a decline of 7% in sales of its utility vehicles in April. It sold 18,884 utility vehicles in the month, down by 523 units last year. Its competitor, Maruti Suzuki, on the other hand, witnessed an increase of 6% in the utility vehicle segment in April, though the […]
Bajaj Auto, the country’s biggest two-wheeler exporter, reported a jump of 8% in its April exports, and an increase of 3% in domestic sales. Overall, the company’s total sales for the month were up 2%. Bajaj sold 2.05 lakh motorcycles in India during April and exported over 1.68 lakh. The company reported its highest ever […]
Maruti Suzuki reported for April one of the worst set of auto sales numbers in recent quarters, with total sales falling by a whopping 17.2%. All passenger vehicle categories, except the Utility Vehicle segment that includes Ertiga, showed declines. Utility vehicles reported a year-on-year increase of 5.9% to 22,035 units. The segment also includes the […]
Cochin Shipyard Limited said it signed a contract for construction and supply of eight anti-submarine ships for the Indian Navy worth Rs 6,311 cr. The ships, also known as anti-submarine warfare shallow water crafts, will have a displacement (size) of about 750 tons, a speed of 25 knots and will be capable of full-scale, sub-surface […]
Mumbai-based chemicals firm, Omkar Speciality Chemicals, said it received a process patent from the Government of India for its process to manufacture artificial sweetener sodium saccharin. Under a process patent, exclusivity is granted for a particular manufacturing process, and not for the product itself. Others can produce the same product through a different process, modifying […]
Bharti Airtel has introduced a competitor to Youtube, which accounts for more than half of India’s mobile internet consumption, with the launch of Wynk Tube — a Youtube like app that will focus more on music and music videos. Unlike Youtube, which does not let its free users switch to an audio only mode, Wynk […]
Godrej Properties, the Mumbai-based real estate arm of the eponymous diversified group, reported its highest ever quarterly sales, but the numbers also indicated that the company was realizing less upfront revenue per square feet booked. The company sold 3.72 million square feet of developments during the three months from January to March 2019, a jump […]
Pharmaceutical manufacturer Zydus Cadila said it received approval from the United States Food and Drug Administration for the sales of a generic version of Valeant Pharmaceuticals’ Syprine capsules and a generic version of Actelion Pharmaceuticals’ Tracleer tablets. Trientine Hydrochloride capsules are chelating agents used for the treatment of Wilson’s disease, a genetic metabolic defect that […]
Two-wheeler manufacturer Hero MotoCorp Ltd said it will launch its Maestro Edge 125 model and XPulse models by this month. The company produces scooter models such as Destini 125, Duet, Maestro Edge and Pleasure. Close to 10% of its total sales are from scooters. The Hero Maestro will now join the Destini 125 in the […]
Ahmedabad-based Torrent Pharmaceuticals said its manufacturing facility at Indrad in Gujarat was subject to certain ‘procedural observations’ by the United States Food and Drug Administration following a routine inspection. The pharma company did not quantify how many observations were made by the US health regulator. Procedural observations are referred to as deficiencies in standard operating […]
One of the key aspects of the new tariff order of the TRAI that came into effect from February 1 was the uniformity of pricing among channels. The distributor — a cable or DTH operator — had to charge the same network fee for any channel, irrespective of content or ownership. So, whether it was […]
Pharmaceutical manufacturer Zydus Cadila said it received final approval from the United States Food and Drug Administration for sales of a generic version of Aventis Pharma’s Arava tablets. Leflunomide tablets, belonging to a class of medications called disease modifying anti-rheumatic drugs, is used of the treatment of rheumatoid arthritis. Zydus said that its tablets will […]
Mumbai-based pharmaceutical firm Glenmark Pharmaceuticals said it received approval from the Russian Health Ministry for the sales of Momate Rhino, also called Mometasone Furoate metered nasal spray, as an over-the-counter (OTC) drug. Over-the-counter drugs are medicines sold directly to a consumer without prescription from a healthcare professional, as opposed to prescription drugs, which may be […]
The National Stock Exchange on Wednesday sought a clarification from Jet Airways regarding reports that a British entrepreneur has expressed interest in acquiring it. The NSE has asked Jet Airways whether such negotiations were taking place and whether it was aware of any information that has not been informed to both NSE and BSE. This […]
Retail chain V-Mart announced the opening of two new stores, one each in West Bengal and Uttar Pradesh, taking its total tally to 218. With this, V-Mart has its operations in 172 cities across 17 states in the country. The retailer has 13 stores in West Bengal and 86 stores in Uttar Pradesh. The company […]
Banking services and solutions provider Nucleus Software reported a consolidated revenue of Rs 127 crore in the fourth quarter of FY 2019, compared to the Rs 111 crore it generated in the corresponding quarter of the previous year. This is also higher than the Rs 123 crore it posted three months ago and the Rs […]
Tata Global Beverages Ltd, a subsidiary of the multinational conglomerate Tata Group, said it entered into a non-binding agreement to acquire the branded tea business of the Kolkata-based Dhunseri Tea and Industries Ltd for Rs 101 crore. A non binding contract is an agreement in which the parties are not legally obligated to carry out […]
Jewellery manufacturer Rajesh Exports opened its 82nd gold showroom under the Shubh Jewellers brand name in Mangalore. Launched in 2012 by Rajesh Exports, Shubh Jewellers enjoys a strong presence in South India, especially Karnataka. The company claims to have one of the world’s largest active jewellery design databases of around 29,000 designs. “We are planning […]
India’s most aggressive low-cost carrier, SpiceJet, announced 28 new flights connecting Mumbai and Delhi with other cities on its domestic network, five days after it added 24 new flights connecting Mumbai and Delhi with other cities. SpiceJet also announced slew of new non-stop international flights from Mumbai to a host of international destinations including Hong […]
Steel and Energy Company Jindal Steel and Power Ltd (JSPL) said it completed the delivery of its first ever rail order for the supply of rails to the Indian Railways four months ahead of schedule. On July 28, 2018, JSPL had bagged 20% of the Rs 2,500 crore global tender by the Indian Railways to […]
