Pharma major Lupin Limited (Lupin) said it has received tentative approval from US FDA for Empagliflozin and Linagliptin tablets used to control blood sugar levels. The approval is for selling combinations of 10 mg+5 mg and 25 mg+5 mg of the drugs. In these dosages, the tablets have annual sales of around 242 million in […]
Glenmark Pharmaceuticals Ltd said its trial of Favirpiravir showed a 28.6% faster recovery among those treated with the antiviral drug than on those who were on standard therapy. The 150-person trial showed “numerical improvements for the primary efficacy endpoint with 28.6% faster viral clearance in the overall population as measured by the median time until […]
In one of the biggest real estate deals post the lock-down India’s leading luxury developer, Sunteck Realty acquired a 50-acre property in the North Mumbai suburb of Vasai West. The company did not disclose the cost of the acquisition, but given the location and the size of the property, the deal is likely to be […]
Hindustan Unilever, the biggest advertiser in India, protected its profit margins during the Apr-Jun period by slashing its advertising budget by about 32%. Given that this is after merging GSK’s consumer healthcare business with itself, the actual decline in advertising is likely to have been in the 35% range. Even after adding GSK CH numbers, […]
Tata Communications, a provider of connectivity services to companies and other enterprises, said it has won a ‘Type B’ telecom license in Saudi Arabia to bolster its enterprise offering in the Middle East. Tata Communications is already providing some telecom services in the country, but as a foreign service provider. With the new license, it […]
The amount of money spent by an average SBI Credit Card user fell by 43% to about Rs 24,000 per month during the three months from April to June, but the company still managed to post a higher profit due to higher interest income and lower costs. Compared to Rs 24,000 in the latest period, […]
As the Coronavirus pandemic tightens its grip over the world, Infosys has announced a long-term contract with a billion dollar Germany chemicals maker to provide a managed workspace solution for its 14,300 employees in 33 countries. “Infosys will setup an end-user centric modern workplace with globally standardized device/workplace landscape (for Office, Functional and Virtual users) […]
Mindtree, a mid-size IT and outsourcing services company, said it has been chosen to provide SAP services to a unit of Sweden-based machinery maker Husqvarna Group. SAP is a Germany-based provider of enterprise software, such as that used to keep track of inventories, product design, sales and customer care. Usually, companies depend on IT providers […]
Kerala has become the first state in India to confirm community transmission of COVID-19. Chief Minister Pinarayi Vijayan said community transmission has been confirmed in coastal areas of Thiruvananthapuram district, based on test results from today. “We have come to the conclusion that COVID is now in community transmission in areas like Poomthura and Pulluvila,” […]
In keeping with the recently announced move to decriminalize smaller offences — especially those of a technical or financial nature — Government of India today proposed to remove jail terms for violating Cable TV Networks Regulation Act. At present, the violation of the cable TV Act can result in jail terms of up to two […]
In a shocking announcement, Reliance Jio, India’s largest telecom player, announced that it has developed a fully in-house 5G telecom solution that can be deployed as early as next year. “I have great pride in announcing, that Jio has designed and developed a complete 5G solution from scratch,” Reliance Jio Chairman Mukesh Ambani said today […]
Vodafone Idea lost a whopping 63.53 lakh (6.35 million) subscribers in March — one of the highest ever monthly shrinkage of its user base. March 2020 also saw Bharti Airtel lose 12.62 lakh subscribers. During the month, Reliance Jio added 46.88 lakh users, which is comparatively lower than the numbers that the company had been […]
Notwithstanding the looming threat from Reliance Jio, private equity-funded ACT Fibernet has emerged as the fastest growing wired broadband player in India in recent months. For the first three months of 2020, the company added nine times as many fiber broadband subscribers as Reliance Jio and nearly twice as many as Bharti Airtel. Reliance Jio, […]
Kerala took a step closer to officially confirming local transmission of COVID-19 in Thiruvananthapuram city with the district reporting a whopping 105 cases of local transmission today. Five cluster outbreaks have been identified in Thiruvanthapuram, Chief Minister Pinarayi Vijayan said today. Two ‘large community cluster’ outbreaks of Coronavirus have been identified in Kerala, one in […]
Swapna Suresh, one of the persons named by the media in the sensational Kerala gold smuggling case, has claimed innocence in her anticipatory bail plea, and said she acted upon the instructions of UAE’s consulate general in trying to get the bag released from the customs department. Earlier this week, sealed diplomatic cargo sent by […]
With the travel and hospitality industry reeling from the impact of the Coronavirus pandemic, Thomas Cook — one of India’s top holiday brands — is offering shorter, and far more affordable, European vacations. These five-day vacations will start from just Rs 19,700, and also come with EMI payment options. However, the list of destinations comprise […]
Having reached the cost-saving target of its merger one year ahead of schedule, Vodafone Idea said it has now kicked off another cost-reduction plan. PLAN 1.0 The company said it reduced its operating expenses during the January-March period by around Rs 2,100 cr compared to before the merger, which works out to savings of Rs […]
Maruti Suzuki, the country’s largest carmaker, has started a car subscription service in India in association with ORIX, a Japan-based car rental service provider. Car subscriptions are like car leasing, but with more flexibility that comes at typically higher costs. Unlike car leasing, car subscriptions typically do not come with conditions such as travelling limits. […]
Bajaj Auto, one of the biggest exporters of two-wheelers in the world, said it sold 31% fewer automobiles during June, suffering from the after-effects of the Coronavirus lock-down in India and in other markets. The impact of the lockdown was felt on both India sales and exports, with a sharper decline seen on three-wheeler sales […]
The Chinese embassy in India has called the Indian move to block 59 apps from China as ‘discriminatory’ and ‘against the general trend of international trade and E-commerce’. India blocked the apps yesterday in response to China ratcheting up its military presence on the Indian border, ostensibly in preparation for an attack on India. The […]
