Recruitment firm TeamLease Services Ltd said it entered into an agreement with HR services company E Centric Solutions Private Ltd to acquire its IT staffing business. Incorporated in 2014, Hyderabad-based E Centric currently has over 100 core employees, 880 associates deployed across more than 20 clients. It reported a revenue of over Rs 45 crore […]
Alembic Pharmaceuticals said it received approvals from the United States Food and Drug Administration (USFDA) for sales of a therapeutic equivalent of French pharma major Sanofi Aventis’ Aubagio tablets and for a therapeutic equivalent of Novartis Pharmaceuticals Corporation’s Tobrex Ophthalmic Solution. Teriflunomide pills are used to reduce flare-ups in people with relapsing multiple sclerosis (MS). […]
Privately owned DCB Bank reported significant improvement in its financial performance for the final quarter of FY 2019. The bank’s improved performance comes at a time when the banking sector is undergoing major stress over bad loans. Net profit rose to Rs 96 crore in the final quarter from the Rs 64 crore in the […]
Days after it announced its intention to add new aircraft to its fleet, SpiceJet said it would add 24 new flights over hte next 7-15 days. Of these, 16 will connect Mumbai, four will connect Delhi while the rest will connect the two metros with each other. The new flights from Mumbai are to Jaipur, […]
Indian car manufacturer Mahindra and Mahindra said it signed a deal with Ford India to jointly develop and supply a midsize sports utility vehicles, the C-SUV. As per the agreement, Ford and its affiliate companies will invest Rs 680 crores for the development of vehicles over a period of 10 years. The number of SUVs […]
Pharmaceutical manufacturer Granules India Ltd said that it has received approval from the United States Food and Drug Administration to sell a bioequivalent version of Johnson & Johnson’s Tylenol tablets. Acetaminophen Extended Release tablets, also known as Paracetamol, are used primarily for temporary pain management, including arthritis relief. It will be sold in doses of […]
Pharmaceutical manufacturer Zydus Cadila announced phase-III trials of the Desidustat, an investigational new drug and a Hypoxia-Inducible Factor (HIF) Prolyl Hydroxylase (PH) enzyme inhibitor used for the treatment of anemia and chronic kidney disease. HIF-PH inhibitors are a new class of agents for the treatment of anemia in chronic kidney disease patients. Chronic Kidney Disease […]
Regulatory body Competition Commission of India (CCI) approved the merger of Kolkata-based Bandhan Bank with affordable housing finance company GRUH Finance. On January 7, 2019, board of directors of both the companies had approved the merger and said that it would be completed within six months. The merger comes after the Reserve Bank of India […]
Steel and energy company Jindal Steel and Power Ltd reported its highest ever domestic quarterly steel production and sales in the fourth quarter of financial year 2018-19. The company registered crude steel production of 1.51 million tonnes during the January-March quarter of 2019, an increase of 23% from the 1.26 million tonnes produced in the […]
Content curator and music label Saregama said it received an amount of Rs 32.18 crores from the National Insurance Company Ltd in compensation for the loss of stocks of its radio music players Carvaan and Carvaan mini in a fire at its Bhiwandi godown. On April 1, Saregama had reported that its godown where its […]
Telecom operator Bharti Airtel updated its TV app by adding a new section for election coverage and incorporating content from the ‘Editor Ji’ platform founded by former NDTV CEO Vikram Chandra. Airtel TV app users will now have access to exclusive election news bulletins from the video news app, Editor Ji, which is funded by […]
Maruti Suzuki India has claimed top position for its premium sedan Ciaz for the year ended March, indicating that it beat long-time incumbent Honda City and new challenger Hyundai Verna. India’s largest carmaker claimed a market share of 30% for Ciaz in the “premium sedan” segment. The premium sedan segment excludes the likes of Honda […]
Content curator and record label Saregama has launched a portable version of its runaway success, the Carvaan digital music player. The original Carvaan, shaped like an retro radio, comes with about 5,000 old Hindi songs preloaded, and can also play songs from USB and Bluetooth. The device became a big hit, primarily because it came […]
Subros Ltd, a leading manufacturer of thermal products for automotive applications in India, said it has executed a ‘definitive agreement’ worth Rs 11.15 cr for the purchase of certain assets of air conditioner maker Zamil Air Conditioners Private Ltd. Established in 1985 as a joint venture with Suri family of India, Denso Corporation & Suzuki […]
Media content house Shemaroo Entertainment said it acquired a 50% stake in media and entertainment firm Dominiche Productions Private Ltd. Incorporated in October 2017, Dominiche Productions first launched their Astrovani segment on Airtel DTH and following its success, they launched the same in Dish TV, Videocon D2H, Amazon firestick, NDTV App and Jio TV. The […]
TV18, the country’s largest news- and reality-based programming company, said the introduction of a new tariff order by the Telecom Regulatory Authority of India impacted both its advertising revenue as well as subscription income. TRAI introduced a new, demand-based subscription model for television channels from Feb 1, while a ruling by the Madras High Court […]
Bharti Airtel said it will offer solutions from US-based networking company CISCO to its enterprise and SMB customers. Two solutions — Software-Defined Wide Area Network (SD-WAN) and Cisco-Webex conferencing solution — will be offered. Financial details of the deal were not disclosed. The software-defined Wide Area Network solution will provide customers with “a clear view […]
Alembic Pharmaceuticals said it has received approval from the US Food & Drug Administration (USFDA) to sell an equivalent drug of Lumigan eye drops of Allergan. Bimatoprost Ophthalmic Solution 0.03% has an estimated US market size of $ 76 million. It is indicated for the reduction of elevated intraocular pressure in patients with open angle […]
Electronics manufacturer Dixon Technologies said that it has acquired 50% shares in its joint venture company, Padget Electronics Private Ltd. Dixon had previously held a 50% stake in Padget. With this, Padget Electronics has now become a wholly-owned subsidiary of Dixon Technologies, the OEM said. Padget had a turnover of Rs 1,351 crores in the […]
Automobile manufacturer Maruti Suzuki said that its Celerio models crossed the one lakh annual sales milestone. Celerio sold 1.03 lakh units of vehicles in 2018-19, an increase of 10% from previous year. Apart from Celerio, other Maruti Suzuki cars in the club of over 1-lakh sales include Vitara Brezza, Dzire, Baleno, Swift, WagonR and Alto. […]
