Mukesh Ambani, chairman of Reliance Jio will make a ‘significant announcement’ about the 4G wireless service provider’s offerings at 11 AM on Friday while delivering his annual speech at its parent’s annual general meeting. A live webcast of Mukesh Ambani’s speech at the AGM, at which he is expected to announce the launch of ultra-cheap […]
Ratcheting up its attack on the ruling Bharatiya Janata Party, fellow saffron outfit Shiv Sena today dared cow vigilantes to fight for the country in Kashmir and asked if Pakistan was behind such attackers. India has seen two waves of vigilante attacks targeted at those who eat beef or transport cows and buffaloes. The first […]
Fitch Ratings said the new Goods and Services Tax regime will hurt the oil & gas, pop-and-mom retail and small and medium enterprise segments, while benefiting auto, cement and organised retail sectors. However, it said it won’t revise it ratings due to this at this point. In a report titled “Varying Impact of India’s GST […]
Cement manufacturer ACC Ltd reported a 46% jump in profit before tax to Rs 482 Cr, while sales increased 18% in the first quarter to 3,329 Cr. Net profit rose 33% to 326 cr. Cement volume rose 10% on year. “The Company delivered strong volume growth amidst challenging market Conditions,” it said. “The speedy ramp […]
Pakistan’s Director General of Military Operations protested Indian attacks on the Line of Control in Kashmir in a meeting with his Indian counterpart. According to a statement released by the Indian side, Pakistan complained that Indian Army had killed four Pakistani soldiers and one civilian by cross-border firing. India and Pakistan are engaged in a […]
The Indian Meteorological Department has warned that heavy rainfall over the next three days is likely to lead to a ‘rapid rise’ in the levels of major rivers in Gujarat, Rajasthan, Uttar Pradesh and Madhya Pradesh. It urged that caution should be exercised while release water from dams during this period. The rivers that will […]
Anil Ambani Group’s Reliance Capital said it received Rs. 378 crore from Nippon Life Insurance, one of the largest life insurers in the world, after the foreign company increased its stake in Reliance Nippon Life Asset Management Limited to 49%. The original agreement to increase the stake from 26% to 49% was announced on March […]
The demonetization of currency notes late last year has doubled the number of card transactions and helped push India’s payment digitisation by three years, State Bank of India said in a note. “Even after seven months post demonetization, the transaction value is quite large and approximately double of what it had been corresponding month last […]
Automaker Mahindra & Mahindra launched a new minivan based on its Jeeto platform, priced at Rs 3.45 lakh before taxes. At the price, the van is likely to appeal to semi-commercial users, such as schools, institutions and shops. The company already has a similar offering on its Maxximo platform, priced at Rs 3.05 lakh. The […]
The Tata Motors Group reported a 2% decline in global wholesales in June 2017. Total global wholesales for the month was at 90,966. The decline came from the commercial vehicle segment. Sales of commercial vehicles, including from Tata Motors and Tata Daewoo fell 8% year on year to 30,241. Passenger vehicles whole-sales increased by 1% […]
Auto ancillary company Minda Corp said it had raised Rs 25 cr by issuing commercial paper. Commercial paper refers to unsecured, short-term promissory notes or debt issued by a company. These paper usually mature in a few weeks or months and are used for working capital and other short-term requirements. “This (issue) is in line […]
India’s biggest wireless data provider Reliance Jio unveiled a new set of plans as it continues to migrate its customers towards paid plans. The key difference between the new plans and the previous Dhan Dhana Dhan offer is that the new plans offer double validity for the recharges, while the earlier plan offered triple validity. […]
State Bank of India said it had decided to conduct an initial public offer for some of its shares in its insurance subsidiary SB Life Insurance. BNP Paribas Cardif S.A. would also sell some of its shares in the offer. It said the offer would involve 8 crore shares. No valuation or size details were […]
GMR Goa International Airports Limited said it closed funding for the upcoming Mopa Airport in Goa, with Axis Bank underwriting the entire debt of Rs 1,330 cr. “Having tied up funding for the project, we are working towards starting on ground construction activity post monsoon,” said Srinivas Bommidal, chairman of GMR Airports. “We are confident […]
The Indian Meteorological Department has warned about heavy rains in the Himalayan states, Bihar, Jharkhand and North East. There will be heavy rains in these regions for five days starting from today. “Heavy to very heavy rain very likely at isolated places over Assam & Meghalaya; heavy at isolated places over Uttarakhand, East Uttar Pradesh, […]
Glenmark Pharmaceuticals said it got approval from US authorities to launch a generic version of Daiichi Sankyo’s hypertension drug Azor in various dosages. The drug had annual sales of approximately $211.6 million as of May. The approval was obtained from United States Food & Drug Administration for Amlodipine and Olmesartan Medoxomil tablets in dosages ranging […]
The Indian rupee is likely to give up some of the gains it has made in recent weeks going forward, Angel Broking said, adding that the currency is likely to move towards the 65.30 level against the US dollar. The rupee has risen around 5% in the last six months due to various factors, including […]
Jubilant Life Sciences said it received final approval from US authorities to launch a generic version of Valeant’s anti-depressant Wellbutrin. The approval from FDA is for introducing Bupropion Hydrochloride tablets in 150 mg and 300 mg doses. The drug is used for the treatment of major depressive disorder and prevention of seasonal affective disorder. “This […]
Pharma company Lupin said it launched Moxifloxacin Hydrochloride eye solution in the US. Lupin’s Moxifloxacin Hydrochloride Ophthalmic solution USP, 0.5% (base), is an AT1 rated generic equivalent of Novartis Pharms Corp.’s Vigamox Ophthalmic solution. It is indicated for the treatment of bacterial conjunctivitis caused by susceptible strains of the organisms. Vigamox Ophthalmic solution had US […]
Zydus said it started phase II trial on its anemia drug candidate ZYAN1. The drug, a hypoxia-inducible factor prolyl hydroxylase inhibitor, is being tested as a treatment for anemia associated with chronic kidney disease (CKD). The move follows successful Phase 1 trials. A drug has to go through three phases of clinical trials before it […]
