Indusind Bank, part of the Hinduja group, said it has raised $500 mln (about Rs 3,300 cr) by way of syndicated term loans from a group of overseas lenders. The tenor of the facility is 3 years and will be used for general banking purposes, it said. “This fund-raising, along with the funds raised during […]
Vivimed Labs said it will receive $7.5mn investment from OrbiMed Asia into its API business as a follow on to the $42.5 mn invested in September 2017. At the time, Vivimed has said that the proceeds will be utilised for debt reduction at the parent entity level as well as for expanding the API business. […]
L&T said its Hydrocarbon Engineering unit secured a major construction contract for Crude Distillation and Vacuum Distillation Unit (CDU & VDU) from Hindustan Petroleum Corporation Limited, Visakhapatnam Refinery. It also won an extension to an ongoing contract for Reliance Industries Jamnagar. The combined value of the two contracts is about ₹2,100 Crores, the construction company […]
The number of frauds related to Internet banking and credit and debit cards in India has increased four fold in the last one year, according to data reported by the banks to the Reserve Bank of India. Banks have already reported 10,220 incidents under the RBI’s Fraud Monitoring System involving an amount of Rs 111.86 […]
When Mukesh Ambani launched his telecom venture a year ago, it was based on one key assumption: India is a data starved country, and given the right pricing, demand for the commodity is almost insatiable. Going by the latest industry data from the Telecom Regulatory Authority of India, he may be right on the money. […]
The Central government has agreed to fund the construction of residential schools for girls from the scheduled caste community in districts with large populations from the community. The center will provide the cost of constructing the school as well as for purchasing items such as furniture, recreation, garden, etc., minister Thaawar Chand Gehlot. Only classes […]
The fire at Mumbai’s Kamala Mill Compound has disrupted the broadcasting operations of India’s biggest media conglomerate Times Group. Channels such as Movies Now, Romedy Now, MN+ and so on are offline, while news channels — including ET Now, Mirror Now and Times Now have had to transmit from make-shift studios and locations. Anchors of […]
Joby George of Kerala-based Goodwill Entertainments has offered a ‘lifetime’ job in the UK, Australia, Dubai or India to the person who was arrested by the Kerala police yesterday for cyber-bullying an actress who criticized super star Mammootty. “If u can give u r no or u can come to my home or office till […]
Reliance Jio, the firm led by Mukesh Ambani, will walk away with most of the telecom assets of Reliance Communications, led by Mukesh’s brother Anil. Rcom said it has “signed definitive binding agreements with Reliance Jio Infocomm Limited for sale of Wireless Spectrum, Tower, Fiber and Media Convergence Node (MCN) assets.” The Anil Ambani company […]
Authorities at Delhi International Airport have been waiting for nearly nine years for a religious trust to lower the height of a statue to make full use of one of Asia’s longest runways. It was in 1989 that the Airport Authority had given permission to Jaya Shree Charity Trust to build a Shiva statue with a […]
Bank of Baroda said it will buy out its foreign partner Pioneer Investments in its asset management subsidiary to raise its stake in the unit to 100%. It will acquire 51% of Baroda Pioneer Asset Management Company for an undisclosed amount. This is being done due to the acquisition of Pioneer Investments by Amundi, which […]
Pharma Major Lupin announced that it has received final approval from the US Food & Drug Administration to market a generic version of Dovonex Scalp Solution from Leo Pharmaceutical Products Ltd. Calcipotriene Topical Solution is indicated for the topical treatment of chronic, moderately severe psoriasis of the scalp. Lupin’s Calcipotriene Topical Solution, 0.005% (Scalp Solution) […]
The central government and various state governments will award contracts to set up another 6,500 MW (6.5 GW) of wind energy projects in the next three months, the ministry of renewable energy said. Combined with the 3 GW awarded in the first nine months of this fiscal year, this will take the total amount of […]
India faces steep odds in its race to meet its solar power addition targets for the current year. Last year, the country had added only 5.53 GW of incremental solar power capacity against a target of 6 GW. This year, the target is 10 GW. However, as of November end, it has added only 3.46 […]
The problem of high debt levels faced by some telecom companies in India was of their own making and the government had a limited to role to play in resolving the same, the inter-ministerial group set up to address the concerns of telecom sector found. The cash flow issues faced by the companies is related […]
Maruti Suzuki India Limited said it entered into an agreement with the Government of NCT of Delhi to set up Driving Test Centres in 12 locations in the city. In the first phase, these Automated Driving Test Centres will be set up at Hauz Khas, Shakur Basti, Raja Garden, Hari Nagar, Burari, Loni Road, Sarai […]
BSNL Chairman Anupam Shrivastava has officially confirmed what had only been hinted at so far, the company will indeed launch 4G services starting with Kerala next month. However, in all the buzz, one key element of the plan was overlooked — it is going to use Band 1, also known as the 3G band, for […]
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 […]
State-owned Bharat Sanchar Nigam Ltd, which had been seeing a steady recovery in its financial condition in the last three years, found it difficult to keep the recovery going in FY17. According to the latest data given by the Department of Telecom, the company reported a net loss of Rs 4,786 cr for the year […]
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 […]
