Reliance Industries, India’s largest private company, today rebutted rumors that the company has purchased agricultural lands on a large scale and that it plans to carry out contract farming to take advantage of the new farming laws. The clarification comes in the wake of a online campaign targeting the company, as well as rival Adani […]
Reliance Jio said it has removed the fair usage caps imposed on voice calls under its various unlimited call plans. The move is a response to abolition of domestic mobile interconnect charges. At present, Jio imposes a limit of 1,000 minutes per recharge on calls to other network on its most popular Rs 199 plan. […]
As part of a plan to double India’s nuclear power capacity by setting up 10 nuclear plants using indigenous technology, a government agency has put in purchase orders for more ‘reactor header assemblies’. The order for the ten reactor header assemblies has been won by public sector unit Bharat Heavy Electricals Ltd. Reactor header assembly […]
Glenmark Pharmaceuticals Ltd said it has launched a new diabetes drug in India at a price that is around 65% cheaper than those of competing offerings. The new drug is a combination of a Sodium Glucose Co-Transporter Inhibitor (SGLT2i) and a Dipeptidyl Peptidase 4 inhibitor. “Glenmark’s Remo V and Remozen V are priced at Rs. […]
Bicon Ltd and Lupin Ltd, two India-based pharmaceutical manufacturers, launched two drugs in the US, separately. Bangalore-based Biocon launched an immunosuppressant, while Lupin launched a pain relief drug. Biocon’s drug is called Tacrolimus, and it is a calcineurin inhibitor. The company said the drug is used in organ transplant patients to reduce the body’s ability […]
Enterprise connectivity provider Tata Communications has acquired a 58.1% stake in France-based embedded SIM technology company for an undisclosed amount in an attempt to boost its portfolio of IoT offerings. Embedded SIMs are used in devices that don’t have enough space for housing a physical SIM, such as smart watches and small, medical devices. Besides […]
IT and outsourcing major Wipro said it will take over the IT division of Germany-based wholesaler Metro AG in a deal that is expected to generate revenue of over Rs 1,000 cr per year for the Indian company. A total of more than 1,300 IT staff from Germany, Romania and India belonging to the wholesaler […]
Indian stock market regulator Securities and Exchange Board of India has given its approval to IT major Wipro’s plans to return around Rs 9,500 cr to shareholders via a buy-back. The company said in a notification that it will now send intimations to shareholders about the buy-back on or before Dec 26. Owners of Wipro […]
Following automakers like Honda, Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki, Kia Motors, MG Motor and Renaut, Tata Motors too has announced a decision to increase vehicle prices from next month. However, unlike most others, Tata Motors will increase prices for commercial vehicles only, while leaving passenger vehicles alone for now. Around half of the […]
Thanks to the rapid roll-out of fiber broadband services by partner Reliance Jio, telecom player HFCL Ltd has started producing residential broadband-oriented fiber cables at a new facility in Hyderabad. HFCL’s new optical fiber plant in Hyderabad came online in January this year, and on Wednesday, the plant started making smaller size optical cable that […]
Credit rating agency ICRA has revised its revenue target for the TV broadcasting sector in India due to a faster than expected bounce-back in advertisement revenue and strong growth in subscription incomes. The ratings company, however, kept its forecast for the print industry unchanged, predicting a decline of 30% for the ongoing financial year. BROADCAST […]
Mid-range models like XUV300, Thar and Bolero proved to be the wind behind sails of Mahindra & Mahindra’s 27% sales growth in November, according to the numbers released by the company today. On the other hand, sales of both entry-level as well as higher priced models, such as KUV100 and XUV500, proved to be a […]
L&T Technology Services, a provider of consulting and outsourced services in the engineering field, said it won a $100 million (Rs 750 cr) contract from a major US oil and gas company. L&T Tech will be the US company’s primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in USA, […]
Pharmaceuticals manufacturer Indoco Remedies has won a major contract to supply Allopurinol, used to bring down uric acid in the blood, from Germany. The two-year contract will generate around Rs 70 cr per year for the company. “This is Indoco’s first own label product in Europe,” said Managing Director Aditi Kare Panandikar. “Germany is totally […]
Hindalco Industries Limited, the Aditya Birla Group metals flagship, said it intends to set up a 34,000-tonne aluminium extrusion plant at Silvassa, the capital of Dadra & Nagar Haveli, at a cost of Rs 730 cr. The new plant will service the fast-growing market for extruded aluminium products in the western and southern regions, particularly […]
Pharmaceutical manufacturer Zydus Cadila said it received permission to initiate clinical trials for ZYIL1, an oral small molecule NLRP3 inhibitor, as an anti-inflammatory agent. The molecule is being explored for treating a variety of inflammation-related conditions, including Acute Respiratory Distress Syndrome (ARDS), auto-immune diseases, inflammatory diseases, cardiovascular diseases, metabolic disorders, gastro-intestinal diseases (inflammatory bowel disease), […]
Reliance Jio, whose entry into wireless telecom decimated the competition, seems to be all set to repeat its performance in the wired broadband space. The company added a whopping 3.03 lakh wired connections and 2.7 lakh fiber broadband connections in the month of September. Before this, the record for the highest number of wired broadband […]
Maruti Suzuki India today said it had decided not to use Toyota Kirloskar’s factory in India to manufacture Vitara Brezza, also sold as Toyota Urban Cruiser in India. An agreement was announced in March last year in which the two companies announced that Maruti Suzuki will supply Baleno to Toyota in India. At the same […]
Larsen & Toubro, India’s biggest construction firm, said it has got an encouraging response to the launch of its second phase of its Seawoods Residences project in Navi Mumbai. The first phase of the semi-premium housing project, launched early last year, saw decent levels of interest, with reports claiming that the company got 1,800 bookings […]
Mahindra & Mahindra reported its strongest growth yet in the COVID-19 era after sales in November surpassed expectations, with strong numbers coming in from the tractor department. The company reported a whopping 55% jump in tractor sales for November, compared to just 2% in October. Similarly, sales of utility vehicles such as XUV500 jumped 27% […]
