Telecom minister Manoj Sinha today said the government is committed to the “the fundamental principles and concept of net neutrality” and is studying the recommendations of the telecom regulator in this regard. The government is keen to ensure “non-discriminatory access to internet,” Sinha added. The Telecom Regulatory Authority of India had, a month ago, sent […]
Aurobindo Pharma Limited said it received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Fondaparinux Sodium injection — a bioequivalent and therapeutic equivalent to Arixtra of Mylan Ireland. The product, used to prevent deep vein thrombosis (DVT), will be launched next month. “The approved product has an estimated market […]
Sun Pharmaceutical Industries Ltd said the US FDA has accepted a New Drug Application (NDA) for its OTX-101 dry eye drug. The application will now be processed for approval. Dry eye is a condition in which the eye does not produce tears properly, or when the tears are not of the correct consistency and evaporate […]
The country’s largest packaged fruit juice maker Dabur India said it was entering the fruit-based Mocktail category under its Réal brand. The Réal Mocktails have been launched in two variants – Virgin Mary and Virgin Pina Colada. The Réal Mocktails will be available in 1-litre Tetrapaks, priced at Rs 110, it said. The company currently […]
Adhesive manufacturer Pidilite Industries said it would return up to Rs 500 cr to its shareholder by way of a share buyback. The company’s board approved a buyback proposal for up to 5 mln shares at a price of Rs 1,000 each, aggregating to Rs 5 bln (500 cr). The shares are being traded at […]
Pharma manufacturer Dr. Reddy’s Laboratories said it launched a generic version of chemotherapy drug drug Alkeran. The drug is used for palliative — or relief-oriented — treatment of multiple myeloma and epithelial carcinoma of the ovary. The Alkeran brand and generic had U.S. sales of approximately $107 million MAT for the most recent twelve months […]
The Goods and Services Tax is turning out to be quite effective in ensnaring more and more people into the tax net compared to the previous excise and VAT system. Out of the 93.33 lakh individuals and businesses registered under the new tax system as of the end of last month, a whopping 31% are […]
The number of income tax e-filings increased by 19.5% this year compared to last year as demonetization forced many people declare their hitherto undeclared incomes. A total of 3.89 cr e-filings were recorded in the current financial year as of Nov 7, compared to 3.25 cr in the same period of the previous year, the […]
The total amount raised via initial public offering of equity shares in the first eight months of the current financial year is more than the total proceeds raised in the previous five years, according to SEBI data. A total of Rs 62,736 crore has been raised in April-November period, higher than the Rs 62,147 raised […]
Jet Airways said it will hold an 11-day sales starting tomorrow with 10-15% discounts. “With a flat 10% off on base fares in Economy and up to 15% off on Premiere fares, guests will be able to realise attractive savings on popular sectors across the airline’s domestic network of 44 destinations in the New Year, […]
India has plans to increase the output of uranium — the key fuel used in its nuclear weapons program — by ten times by 2031-32 and achieve self-sufficiency, the Department of Atomic Energy said. India is estimated to have 232,315 tons of uranium contained in deposits of 273,956 tons of tiiuranium octoxide. Even though the […]
Ortel Communications, which provides broadband services in Odisha, Chhattisgarh, Andhra Pradesh, Telengana, West Bengal and Madhya Pradesh, has announced new plans in line with the cheapest 4G plans offered by rivals like Reliance Jio. It has also cut prices for its high-volume plans. The Rs.99 plan will give 500 MB data per day @ 2Mbps, […]
Suven Life Sciences Ltd said it has been granted one patent each in Canada and India for drugs for treating Neurodegenerative diseases. The Canadian patent 2932428 is valid through 2034 and the Indian patent 289123 is valid through 2028. The chemical entities are considered useful in the treatment of cognitive impairment associated with neurodegenerative disorders […]
Steel Authority of India Ltd, one of India’s top steelmakers, said it has approved giving voluntary retirement compensation to 1,269 employees totaling Rs 254 cr. The figure comes to about Rs 20 lakhs per employee on average. VRS 2017, as the scheme is called, will result in savings of Rs 127 cr per year for […]
Bank of India said the Reserve Bank of India has placed it under the ‘Prompt Corrective Action’ framework, a set of restrictions aimed at preventing further deterioration in the health of a bank. It said the action followed an onsite inspection by the RBI. “This is in view of high net NPA, insufficient CET1 capital […]
State-owned Bharat Sanchar Nigam Ltd is currently testing an intra-circle roaming agreement with Reliance Jio in Karnataka circle, telecom minister Manoj Sinha said. However, he did not clarify whether the agreement was to allow BSNL users to tap into Reliance Jio’s 4G service or to allow Jio users to access BSNL’s 2G service. However, the […]
Shareholders of Tata Teleservices Maharashtra Ltd — the listed unit of Tata Tele — will get one share of Bharti Airtel for every 2,014 shares held by them, the company said. The ratio of share issue indicates that the consumer mobile business of Tata Telservices Maharashtra Ltd accounts for only 3.77% of the equity value […]
Not a single employee was laid off or removed as part of the merger of five associate banks with State Bank of India, the government said, adding that the bank had no plans to offer VRS options to its employees. “SBI has informed that no employee has been removed after merger and no application was […]
Amara Raja Batteries Ltd said it has inaugurated the first phase of its two-wheeler battery plant in Chittoor with a capacity of 5 mln units per year. Before this, the company had a capacity of only 12 mln two-wheeler batteries per year. The new plant will have an ultimate capacity of 17 mn units with […]
Coal India, India’s primary supplier of domestic coal, said it would impose a charge of Rs 50 per tonne on all customers except those who are availing its ‘rapid loading’ facility. It said the extra charge will general around Rs 2,500 cr per year. For the remaining three months of the financial year, it would […]
