Moody’s Investors Service has downgraded debt issued by IDBI Bank over concerns on “reduction in the amount of extraordinary government support incorporated into the bank’s ratings and its weak standalone credit profile,” the bank said. While earlier, Moody’s used to assume that government support for IDBI Bank was at the top-end of the ‘very high’ […]
Idea Cellular, India’s third largest telco by revenue, launched its 4G services in Srinagar. This is the 26th town in Jammu & Kashmir to get Idea 4G services, which are also present in Jammu, Udhampur, Katra, Samba, Poonch, Rajauri, Kathua, in addition to Srinagar. “Idea 4G SIMs are now available at its company retail store […]
The Indian government is likely to announce a new industrial policy in October, the ministry of commerce and industry said, and sought feedback from the public. Commerce and industry minister Nirmala Seetharaman will hold a final round of consultations with stakeholders soon, it added. “Sitharaman will hold consultations with stakeholders, including industry captains, think tanks […]
Tata Power said it generated more four times as much power from renewable sources like solar and wind in the financial year ended March, compared to the year before. This was achieved partly due to an acquisition. During the year, its renewable arm Tata Power Renewable Energy Limited completed the acquisition of WREPL which had […]
Indian Prime Minister Narendra Modi will visit China to attend the upcoming conference of the BRICS forum on September 3-5, the Prime Minister’s Office said today. On the way back, he will also conduct a three-day visit to Myanmar, it added. “At the invitation of the President of People’s Republic of China, Prime Minister Shri […]
India’s energy sector is facing low capacity utilisation in power generation as plant load factor is estimated to remain low at around 62 per cent until 2018-19, noted a recent ASSOCHAM-Crisil joint study. The study also expressed concern over the slow pace of reform implementation in certain areas. The study noted that India had made […]
With Reliance Jio not showing any signs of unveiling yet another ‘surprise’ offer, telecom tariffs in India seems set to rise, particularly for data. Vodafone today announced an new tariff pack that offers 1 GB of 3G or 4G data and free calls for Rs 392. However, unlike similar priced offerings by the company in […]
Cloud-based services provider Ramco Systems has won a key, five-year contract from Saudi Rotorcraft Support Company, which provides maintenance services for the country’s combined fleet of more than 360 military and commercial helicopters. “With two of the top 5 aircraft manufacturers already using Ramco’s aviation MRO software, this deal underscores the track record and deep […]
The External Affairs ministry of Government of India has said that India and China have agreed to an ‘expeditious disengagement’ of border personnel at the Doklam plateau in Bhutan. In a statement, the external affairs ministry said: “In recent weeks, India and China have maintained diplomatic communication in respect of the incident at Doklam. During […]
The Aam Aadmi Party led by Arvind Kejriwal is all set to retain the Bawana constituency in Delhi, giving a much-needed morale booster to the embattled AAP leader. According to the latest bypoll results, the Aam Aadmi Party is at about 36,878 votes, followed by the Congress Party at 24,648 votes and the BJP at […]
Pharma giant Dr Reddy’s Labs today said that a class action lawsuit has been filed against it on behalf of shareholders, alleging that the company misled investors causing them to lose money on their investments. “The lawsuit alleges that the company made materially false and/or misleading statements or omissions in connection with its corporate quality […]
Pharma company Jubilant Life Sciences Ltd said it received final approval to sell pain drug Indomethacin in the US. The drug, which is also sold as Indocin by Iroko in the US, is a nonsteroidal anti-inflammatory drug used for the treatment of moderate to severe inflammation and reduce pain. “This is the seventh approval that […]
Haryana Chief Minister Manohar Lal Khattar seems to be facing mounting pressure to step down, with BJP leader Subramanian Swamy hinting that the CM does not enjoy total support of BJP leaders. “The question of (Khattar’s) resignation has to be taken up by the prime minister, because he selected him,” said Swamy. He went on […]
Supporters of religious leaders Ram Rahim have gone on rampage in Panchkula in Haryana after a court there convicted him of rape. At least eight people have been confirmed dead in Panchkula and over a hundred injured. According to various media outlets, the supporters have unleashed violence at police and local establishments. “I have taken […]
Former Infosys CEO Nandan Nilekani, who took over as Chairman of the company to resolve the tension between key shareholders and the management, said he did not join the IT company to run it. He said he was not in the company to step into the shoes of Vishal Sikka, the CEO who resigned last […]
China’s BBK Electronics, which sells its smartphones under brands such as Oppo, Vivo and OnePlus, has emerged as the top smartphone seller in India, dislodging Samsung which had been on top for six years. Samsung, however, continues to be the top feature-phone brand in the country. Between its three brands, BBK Electronics had a total […]
More families belonging to the Other Backward Classes or OBCs will now be eligible to get benefits of reservation in government jobs and educational institutions after the government raised the income limit for such benefits. Under the new rules, candidates from households with annual income of up to Rs 8 lakhs — or Rs 66,666 […]
India will establish its first National Sports Museum at the Jawaharlal Nehru Stadium, New Delhi, and has appealed to citizens to contribute any memorabilia held by them for permanent display in the National Sports Museum. The contributors will be recognized and acknowledged, the ministry of youth affairs and sports said in a statement. “The aim […]
Infosys founder and former chairman N R Narayana Murthy is all set to lay his cards on the table on his recent allegations about possible corruption at Infosys at a conference call with investors today at 6:30 PM. UPDATE: Murthy’s call has been reportedly postponed to next week. The call comes five days after Infosys […]
Glenmark Pharmaceuticals said it has got the US FDA approval to sell the generic version of corticosteroid ointment Kenalog from Mylan Pharmaceuticals. The primary ingredient is triamcinolone, a corticosteroid that reduces the actions of chemicals in the body that cause inflammation. Kenalog Ointment has annual sales of approximately $26.3 million in the US. Glenmark said […]
