Indian drugmaker Laurus Labs said it signed a definitive agreement to acquire a majority stake in a Bangalore-based, fast-growing biotech company, Richcore Lifesciences, for Rs 246.67 cr. Richcore has advanced R&D and manufacturing facilities to develop and manufacture biotech products critical for manufacturing biological drugs. Richcore also helps its global customers to develop and scale-up […]
After launching car subscription services in Delhi-NCR, Bangalore, Hyderabad, and Pune, India’s largest carmaker has brought the service to Mumbai, Navi Mumbai, Thane, Chennai, Ahmedabad and Gandhinagar. The service will cost around Rs 14,690 per month in Gujarat for a Swift LXi for a four-year contract, excluding GST. In Chennai, it will cost Rs 15,196 […]
Ashok Leyland, which had introduced a voluntary retirement scheme and an employee separation scheme for its executives in August last year, has approved yet another VRS scheme this year. In a notification, the company said its directors “approved the introduction of Voluntary Retirement Scheme (“VRS”) for all eligible employees” of the company. The approval, it […]
L&T Technology Services has been certified by Amazon to put Alexa voice technology into all kinds of devices. Alexa is a voice-interaction technology developed by Amazon, and is quickly emerging as one of the leading standards of voice-based interaction for devices. While it started out as a way to interact with Amazon devices such as […]
Titan Co, which had seen a sharp fall in its revenue and profit in the aftermath of the COVID-19 lock-down, today reported a 15% increase in festival sales of jewelry items. This continues a theme of recovery seen in the last few months. For example, during the three months from July-September, the company had managed […]
Wonderla Holidays Ltd, which reopened the Bangalore water park partially last weekend, said it will restart water rides at the facility from this week. The other two parks, at Kochi and Hyderabad, remain shut. Wonderla Bangalore was opened five days ago with a limited number of rides, and none of the water rides were available. […]
Mahindra & Mahindra, one of India’s largest automobile and tractor makers, announced the production plans for a new series of advanced tractors being made with the help of its joint venture with the Mitsubishi Group of Japan. While the collaboration was announced earlier, it today unveiled further details about the production roadmap, as well as […]
Chennai-based Equitas Small Finance Bank, which listed on stock exchanges earlier this month, unveiled a new type of zero-balance savings bank account with a whopping 7% interest rate. At present, almost no bank offers an interest rate of 7% on savings bank deposits, and many banks offer less than 7% even for fixed deposits. However, […]
Outsourcing major Wipro Ltd said it will replace the current way in which it has structured its business by reorienting it along two core themes — product-related services, and infrastructure-related services. Earlier, Wipro used to divide its services into seven verticals and five capabilities. The seven verticals included segments like manufacturing, telecom, consumer products, financial […]
OnePlus, the premium smartphone brand from Chinese manufacturer BBK Electronics, saw its India sales double during the third quarter (July to September), thanks to the launch of India’s cheapest 5G smartphone, OnePlus Nord. The phone, priced at around Rs 28,000, helped the brand double its sales in India with a growth of 104% during July-September […]
Suzuki Motor Gujarat Pvt Ltd, the India-based auto-manufacturing arm of Japan’s Suzuki Motor Corp, has completed the construction of its third and final assembling unit to achieve its full production capacity of 750,000 vehicles per year, sister concern Maruti Suzuki said today. Unlike Maruti Suzuki, Suzuki Motor Gujarat Pvt Ltd is 100% owned by the […]
Zee5, the on-demand content app from Zee Entertainment, has stopped sharing its content with the content app of at least one telecom player. Punit Goenka, CEO of India’s largest home-grown television broadcaster, said his company has decided not to renew a content sharing deal with a telecom player when it expired in August. He said […]
Bharti Airtel said it has expanded its broadband offering under tie-ups with local cable operators to 48 cities as of the end of September, up from 18 cities three months earlier, and will scale it up even faster in coming days. It said it took seven eight months to get the model right, but the […]
The amount of 5G spectrum set apart for 5G wireless services in India is likely to increase by ten times or more, going by comments made by various government officials at a telecom event today. At present, the amount of 5G spectrum that has been set apart for 5G in India is 275 MHz, which […]
Titan Company, India’s largest jewelry retailer and a part of the Tata Group, said second quarter revenue from its mainstay jewelry division was almost at the same level as what was seen in the same quarter last year, while its eyewear and watches division continued to suffer from the impact of the pandemic. The jewelry […]
Cochin Shipyard Limited, India’s largest shipbuilder, has signed a partnership agreement with Fincantieri, one of the world’s largest shipbuilders. Besides ship-building, the two will co-operate in the areas of ship design, repair, marine equipment manufacturing and training & skill development, the Kochi-based company said today. Italy-based Fincantieri has over 230 years of history and more […]
SpiceJet said it has started offering a doorstep, pre-travel COVID-19 testing service to its passengers. A healthcare worker will visit the passenger at his or her home and collect the sample well in advance of the flight. The test result will be ready in time for the flight, and can be used for the same. […]
Future Retail, the pioneering modern retail chain founded by Kishore Biyani, today said it will take steps to implement its agreement with Reliance Retail as it is not a party to the agreement quoted by global retailer Amazon to block its merger with Reliance Retail. The agreement is with one of its promoters and group […]
Indian SUV maker Mahindra & Mahindra seems to be finally shaking off its long-drawn legal troubles in the US over its flagship model, Roxor, looking too much like the old Jeep models. The company had carried over an extreme redesign of the Roxor this year, and while that may have irked the fans of the […]
Tech Mahindra, one of India’s to six IT service providers, said it has invested $3 million, around Rs 23 cr, in a fast-growing tele-medicine start-up based in Plano, Texas. The Indian company, which gets a 6% stake in exchange for the investment, has an option of raising its stake to 14% by January 2021 by […]
