IndoStar Capital Finance Ltd, a lender promoted by private equity fund Everstone Group, announced the completion of its acquisition of the commercial vehicle finance business of India Infoline Finance, a subsidiary of IIFL Holdings. The acquisition includes the entire commercial vehicle finance assets under management of Rs 3,620 crores. Indostar will also acquire a total […]
Pharmaceutical major Lupin said that it has launched the generic equivalent of Eli Lilly’s Cialis erectile dysfunction tablets. Lupin had received the approval from the United States Food and Drug Administration to sell the tablets along with its rivals Zydus Cadila, Unichem Laboratories and Alembic Pharmaceuticals on March 27. Tadalafil tablets are used to treat […]
Tata Power Strategic Engineering Division reported that it has delivered the Combat Management System for the Indigenous Aircraft Carrier being built for the Indian Navy . It was developed by Tata Power SED in collaboration with Indian Ministry of Defence’s Weapon and Electronics System Engineering Establishment and Russia’s NPO MARS. Typical functions of the CMS […]
Maruti Suzuki, India’s largest auto maker, reported a decline in its monthly sales for the second consecutive month in March, as exports fell by 12.9% and domestic market sales fell by 0.7%. Total vehicle sales, including exports, were down 1.6% at 1.58 lakh units compared to the 1.60 lakh units sold in March 2018. Total […]
NCC Limited, formerly known as Nagarjuna Construction Co, said it received nine orders worth Rs 4,619 crore in the month of March. The company had won orders worth Rs 4,088 crore in February and Rs 4,090 crore in January. Of its March orders, three orders worth Rs 1,802 crore were received in the buildings division, […]
Infrastructure major Larsen and Toubro reported new orders worth over Rs 2,500 crore from Kuwait Oil Company (KOC). The new contract includes construction of a new export strategic pipeline and its associated facilities that will span a distance of around 145 kilometres. The contract has been awarded through international bidding on a Lump Sum Turnkey […]
Tata Motors UK unit Jaguar Land Rover expressed disappointment over the move by credit rating agency S&P to downgrade its debt rating, and promised better results for the ongoing quarter. “The company is disappointed by S&P’s decision to downgrade Jaguar Land Rover now. “The company reaffirms that it expects improved financial results in the fourth […]
Kalpataru Power Transmission Limited (KPTL), which constructs power and related infrastructure, said it received orders worth Rs 588 crores for its transmission and power business from international markets. With the latest order, the total order inflow for financial year 2018-19 have increased to Rs 8,500 crores, the company said in a statement. KPTL is also […]
Pharmaceutical manufacturer Zydus Cadila said that it has received approval from the United States Food and Drug Administration for the sales of a generic equivalent of Gilead Sciences’ hypertension drug Letairis. Ambrisentan tablets had sales of $943 million in the US market in 2018, marking it among the bigger drugs in the market. Ambrisentan tablets […]
Cox and Kings’ unit Meininger Hotels said it has signed contract with a German developer for the construction of a 156-room hotel in the city of Stuttgart. The new hotel, scheduled to open in 2021, will have 460 beds in an area of 6,900 square metres on four floors. The new hotel is located near […]
Pharmaceutical company Suven Life Sciences said it has been granted product patents for a new compound being developed for the treatment of neurodegenerative diseases in Eurasia, Europe, South Korea and Sri Lanka. The compounds are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like the […]
Cox and Kings’ unit Meininger Hotels said it will construct a 126-room hotel in Bremen, Germany. The new hotel, scheduled to open in 2022, will have 378 beds in an area of 5,100 square metres on 11 floors. The hotel is located near Bremen’s Old Town and central station, the travel and tourism company said. […]
Future Supply Chain Solutions, part of the group that operates Big Bazaar, said it signed a multi-year agreement with fashion brand Benetton India to provide contract and express logistics services. Future Supply Chain will manage Benetton India’s supply chain requirements from a large built‐to‐suit, multi‐customer distribution centre in North India. “We have been entrusted to […]
Bengaluru-based IT services firm Infosys said it will take over the mortgage administration services unit of ABN AMRO, based in Amsterdam, Netherlands. Infosys will acquire a 75% of the shareholding in Stater, while the remaining stake will continue to be with ABN AMRO. Financial details of the deal were not disclosed. Stater offers pure-play, end-to-end […]
Infrastructure major Larsen and Toubro reported new construction orders worth over Rs 1,000 crore from Tamil Nadu, Andhra Pradesh, Jharkhand and the United Arab Emirates. L&T’s Smart World and Communication business secured orders from the Tirupati Smart City Corporation Limited to implement pan-city ICT (Information and communications technology) solutions and design and construct a City […]
Consumers of Vodafone 4G, one of the two 4G networks operated by Vodafone Idea, have seen a multi-fold increase its speed in recent days, thanks to the deployment of fresh spectrum won by Idea Cellular in 2016. In recent days, Vodafone and Idea users in the state have started getting access to ultra-fast 4G on […]
Indian pharmaceutical manufacturers Lupin, Unichem Laboratories and Alembic Pharmaceuticals said that they has received approval from the United States Food and Drug Administration to sell generic versions of Eli Lilly’s Cialis erectile dysfunction tablets, while rival Zydus Cadila said it has already begun selling the tablets on day 1. The patent for Cialis, owned by […]
Pharmaceutical major Strides Pharma Science Ltd said it received approval from the United States Food and Administration for its greenfield oral medication facility in Singapore, giving a boost to the company’s efforts to bid for US government contracts. The new unit will help the company supply its products to US government agencies as Singapore is […]
Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator said it hit the target of achieving annual volume of 200 millon tons of cargo movement one year ahead of schedule, and plans to double the throughput by 2025. Adani Ports had taken 12 years to reach the 50 million ton mark. Its […]
Pharmaceutical manufacturer Laurus Labs said that its has entered into a strategic partnership agreement with United Nations’ The Global Fund to sell a generic version of Viiv Healthcare’s dolutegravir (DTG) tablets in the Sub-Saharan countries for three years. Tenofovir/Lamivudine/Dolutegravir (TLD) is a combination drug used for the treatment of HIV/AIDS. Laurus had previously received approval […]
