Bangladesh Power Development Board has awarded the contract for setting up Bibiyana South 400 MW Combined Cycle Power Plant to a consortium of Larsen & Toubro (L8tT) and Samsung C&T Corporation of South Korea, the Indian company said. L&T shall be executing work valued at around USD 250 million, or about Rs 975 cr. The […]
Pharma major Dr Reddy’s Laboratories said it has been served with a class action lawsuit, originally announced in August, related to public disclosures made about regulatory action against the company. “Further to our intimation dated August 28, 2017 with regard to US Securities Class Action Lawsuit, we would like to inform you that the US […]
Larsen & Toubro, India’s largest construction company, said it won new orders worth Rs 3,572 crore. One of the biggest was a Rs 1,358 crore contract at the Kempegowda International Airport for the construction of a new South Parallel runway, apron and associated works on EPC basis from Bangalore International Airport Limited. The project Scope […]
Mahindra & Mahindra said Uber, the taxi company, will deploy ‘hundreds of electric cars’ from the company in Delhi and Hyderabad. The partnership will gradually be expanded to other cities, it said. Mahindra’s electric vehicles on the Uber platform will include the ezoPlus hatch and the eVerito sedan. “As part of this collaboration, both the […]
Edelweiss Financial Services said it raised Rs 1,527.75 crore by selling its shares to institutional investors through the Qualified Institutions Placement (QIP) route, the first time it has raised funds by selling shares after the IPO ten years ago. The QIP opened on November 15, 2017 and closed on November 20, 20 17. It sold […]
Electrical goods maker Siemens Ltd reported an improvement in its profit margins, but underlying sales growth decelerated to 1.8% due to GST-related impact. The company usually posts 8%-15% growth in revenue. Net profit also showed a decline as last year, the company had exceptional income related to the sale of a unit. Revenue, on a […]
The United States Food and Drug Administration has given Zydus Cadila approval to launch a generic version of the billion-dollar erectile dysfunction drug Cialis when patents expire. The patents are expected to expire in September next year. Cialis and Viagra are the most popular erectile dysfuntion drugs in the world. Cialis, created by Eli Lilly, […]
The Securities & Exchange Board of India, the regulator for traded securities such as stocks, has given an exemption to Bank of India to conduct a qualified institutional placement or QIP of Rs 3,000 cr. The bank is technically ineligible for conducting a QIP — which is not considered a ‘public offering’ — as it […]
Strides Shasun Limited said it received approval from the United States Food & Drug Administration (USFDA) to launch a generic version of Diamox Tablets. The primary use of the Acetazolamide is to reduce nausea and dizziness associated with altitude sickness, but the drug is also used in treating certain types of eye probems and to […]
Cloud-based software vendor Ramco Systems’ said it won a multi-million dollar order from Philippines-based logistics and money transfer company LBC Express, a year after getting its first order from the company. The first order was to deploy a cloud-based HR management system, while the latest order is in the nature of ERP deployment to manage […]
A month after Lupin got it, Ajanta Pharma too said it got the approval to launch a generic version of Concordia Pharmaceuticals Inc.’s ADHD drug Kapvay. Lupin had got the nod in October, and said the drug had sales of around $66 mln in the US. Ajantha Pharma also said it has already launched the […]
India’s fifth largest private sector bank Yes Bank said it is raising $400 Mn — about Rs 2,600 cr — through two five-year syndicated loans from banks in Taiwan and Japan. It will raise $250 Mn from Taiwanese banks and 16.5 Bn Yen — about $150 Mn — from Japan. “YES BANK has successfully tied […]
Wipro Lighting said it has signed up with CISCO to incorporate the latter’s Internet technology-based control systems. With this, said the Bangalore-based company, some of its products can be controlled by and linked to a single, converged IP network based on Cisco’s Digital Building Solutions technology. The technology enables large buildings to save on power […]
The Supreme Court again refused to stop the movie Padmavati, urging the Central Board of Film Certification to do its job. It rejected a public interest litigation today filed by a Delhi-based lawyer. “We are not going to prejudge the issue,” said the court today. It pointed out that it cannot step into the shoes […]
E-commerce solutions provider Infibeam said its unit Avenues India, which operates the payment service CCAvenue, has entered the bill payment service with the launch of a new service BillAvenue. The service has been built atop the Bharat Bill Payment System created by the National Payments Corporation of India, which also created the UPI money transfer […]
Fitch Ratings said it expects a slight improvement in the finances of real estate companies in India and forecast increasing consolidation and a reduction in the massive unsold inventories on their books. “We expect the cash flow from operations of the rated Indian developers to continue to improve in 2018 on higher domestic presales in […]
Two Indian pharmaceutical companies, Cipla and Glenmark, said they received approval from the US Food and Drug Administration for new drugs. While Cipla got the nod for a drug used to treat a type of blood cancer, Glenmark was approved to sell an oral contraceptive. Cipla got approval to sell a generic version of Otsuka […]
Pharma major Strides Shasun said it agreed to sell its India branded generics business to Eris LifeSciences Limited for Rs 500 cr in cash. “This transaction is the outcome of the company’s portfolio reprioritization, to focus more sharply on larger regulated markets,” it said. The India branded generics business being divested by Strides had sales […]
Anil Ambani Group’s Reliance Communication said it has sent ‘cease and desist’ notices to its rivals trying to win over its enterprise customers by creating fear about the company shutting down. The development comes in the wake of announcements by the company that it was gradually shutting down its GSM and 3G network to focus […]
Tata Consultancy Services, India’s biggest foreign exchange generator, said it has set up a Global Development Center in Hyderabad to cater to Zebra Technologies, a billion-dollar US corporation that specializes in tracking technologies such as bar codes and RFID. The new center will provide “operational efficiencies and an enhanced customer experience” for the client, TCS […]
