Ipca Laboratories Ltd said it is has acquired US-based drug manufacturer Pisgah Labs Inc. for US$ 9.65 millions free of debt. The acquisition is aimed at establishing the company’s foothold in the US market in the field of contract research and small-volume manufacturing of active pharmaceutical intermediaries. Pisgah Labs Inc., North Carolina, USA was originally […]
Reliance Industries’ controlled TV18 reported better results than in recent quarters, and said advertising revenue is showing signs of recovery. The company reported a 8% growth in the top line for Oct-Dec quarter to Rs 271 cr, while profit before tax remained flat at Rs 16 cr. Profit from joint ventures jumped to Rs 19 […]
Going by indications from the Unique ID Authority of India, Aadhaar numbers could soon be linked to people’s images, allowing the government and corporations to identify people from their photographs and videos. “UIDAI introduces yet another landmark technology for authentication – Face Authentication,” tweeted @ceo_uidai, the official handle of the CEO of UID Authority of […]
Tata Consultancy Services said it has entered into a five-year deal with long-time customer and retail chain Marks and Spencer to transform its customer experience and make it a ‘digital first’ business. “TCS will be Marks & Spencer’s principal technology partner and drive agility, intelligence, innovation and efficiency to transform the retailer’s customer experience and […]
“I won’t be coming here again, I think,” said Infosys co-founder and chairman Nandan Nilekani at the company’s quarterly results press conference, indicating that he may step down from his role at Infosys sooner rather than later. Nilekani faced several questions from journalists about how long he planned to stay in the role of the […]
IT services provider Infosys Ltd said it has largely exhausted the possibility of improving its profit margins by increasing employee utilization levels and will focus on bringing down on-site employee numbers to boost margins. The company reported an employee utilization level of 84.9% for the three months ended December — an all-time record — compared […]
Infosys reported a quarter that was largely in line with expectations and said it retains its full-year revenue growth guidance at 5.5-6.5%, excluding the impact of currency movements. With nine months gone, the company has grown at 5.6% in constant currency terms so far. For the third quarter, revenue in constant currency was up 0.8% […]
Four of the most Supreme Court judges today held a press conference for what they said was to “discharge their debt towards the nation” and to put it on the record that they had not “sold their souls”. They alleged that there are certain things that are not proper that are going on in the […]
Tata Consultancy Services said it will take over the policy administration and customer service functions of US insurer Transamerica along with 2,200 of its employees in a $2 bln-plus, multi-year deal. The Indian company will migrate the administration of over 10 mln insurance policies on to its BaNCS platform and provide ‘third party administration’ or […]
Tata Consultancy Services reported a 1.3% improvement in revenue in constant currency terms, which is less than the 1.7% improvement reported in the previous quarter, but largely in line with expectations for a tame quarter. Revenue grew 6.2% on year in constant currency terms. In rupee terms, the company’s revenue was at 30,904 crore; up […]
Hindustan Media Ventures, the publisher of Hindustan daily, reported a 12% jump in net profit for the third quarter due to ongoing cost cutting measures. On a positive note, advertising revenue increased by Rs 8 cr, or 5%, on year during the third quarter to Rs 177 cr. However, the comparison was with a weak […]
Cochin Shipyard Ltd said it will open a new ship-repair facility at Indira Dock of the Mumbai Port Trust. Cochin Shipyard has been in the ship repair business since 1982 and is one of of India’s leading ship-repair companies. “The signing the MoU with Mumbai Port Trust is in line with the company’s objective to […]
The Telecom Regulator’s subscriber addition numbers for November showed that new operator Reliance Jio continued to lead the charts in terms of net subscriber addition, but rivals like Idea Cellular and Vodafone too have come back on the growth path. Part of the reason for the reversal in the fortunes of Idea and Vodafone could […]
Maruti Suzuki, India’s largest carmaker, said it has raised the prices of its models by Rs 1,700 to Rs 17,000. The cheapest models, such as Alto, will see the lowest increase in price and the most expensive models, such as the Vitara Brezza, will see the highest increase. The prices have been raised “owing to […]
The Tata Motors Group global wholesales in December 2017, including Jaguar Land Rover, rose 23% to 1.17 lakh. In November, it had risen 22% to 1.12 lakh and and by 2.7% to 1.04 lakh in October. Wholesales of commercial vehicles rose 53% in December to 47,182, compared to 51% in November to 40,845. In October, […]
Orient Green Power Co, the renewable arm of the Shriram Group, said it has sold much of it biomass power generation business to a unit of its promoter and that its wind power business is benefiting from higher offtake by the Tamil Nadu power distribution company. The company had around 96 megawatts (MW) of biomass […]
As part of its efforts to set up a city-wide network of electric vehicle charging stations, Tata Power announced that it has set up two more electric vehicle charging stations in Mumbai, its first on third-party compounds. The two charging stations have been set up at two of the most popular malls in the city […]
Satin Creditcare Network Ltd, one of India’s largest microfinance companies, said it has received an investment of Rs 80 cr from US-based hedgefund Kora Management. Kora’s investment is part of the latest funding of Rs 205 that the company raised from institutional investors that also included the promoters of IndusInd Bank and NMI, an existing […]
Infrastructure company Hindustan Construction Company said it got another contract, worth Rs 484 cr, from Pune Metro for the construction of 8 stations on the east-west line. The contract comes two months after it reported a contract win for 9 stations in Line I. The contract has been won in consortium with the Dubai-based AL […]
The apparent success of Hardik Patel-led campaign for reservations seems to be emboldening other groups to start similar campaigns. Shri Rajput Karni Sena, which was in the news for threatening have artists associated with the film Padmavati beheaded, has now warned the BJP government in Rajasthan that it will unleash a nationwide campaign to seek […]
