Rupa & Company, one of India’s largest knitwear manufacturers, said it is launching ‘Fruit of the Loom’ underwear brand in India. Fruit of the Loom, based in Kentucky, is one of the largest manufacturers and marketers underwear, T-shirts and fleece in the world. The company will launch 87 styles across the men’s & women’s range […]
Bharti Airtel said it has acquired a strategic stake in Juggernaut Books, a popular digital epublishing platform. Telecom companies in India are busy building or buying content companies in an effort to offer their own content on their networks. “The investment is in line with Airtel’s endeavour to build an open content ecosystem and bring […]
A senior State Bank of India official warned against assuming that the bad loan malaise affecting the Indian banking sector has started declining. Praveen Kumar Gupta, MD in charge of retail and digital banking, said one cannot directly draw conclusions by extrapolating trends seen in the first two quarters of the current financial year. In […]
Mirc Electronics, which makes Onida brand of consumer durables, said nine private investors will put in Rs 144.12 cr in the form of equity investments into the company. The company will issue 1.92 crore equity shares and 1.92 crore convertible warrants at Rs 37.53 to these investors. Shares of Mirc Electronics were trading at Rs […]
Two crucial factors that swung the decision in favor of hiring Capgemini veteran Salil Parekh as the new CEO of Infosys were his familiarity with working in the IT sector in Bangalore and his overall ‘cultural fit’ with the Indian IT industry, said Kiran Mazumdar-Shaw, who heads the committee that spearheaded the search for a […]
Biocon and its partner Mylan scored a key victory on Friday as the US Food & Drug Administration approved its cancer-treating biosimilar trastuzumab. “Mylan anticipates potentially being the first company to offer a biosimilar to Herceptin, as a result of Mylan’s ability to secure global licenses for its trastuzumab product from Genentech and Roche earlier […]
Vodafone has unveiled five pan-India plans, the highlight of which is the new Rs 509 plan that gives 1 GB per day and unlimited calls for 84 days (12 weeks). The pack is priced only Rs 50 higher than the equivalent plan by Reliance Jio, which is priced at Rs 459. Before this, the longest […]
Mukesh Ambani, India’s richest man, said telecom was the first of his big bet, and he will now use his resources to solve problems in three other difficult areas — agriculture, education and healthcare. Speaking at the HT Leadership Summit, Ambani said his primary motivation was not to make money. “Money has never meant much […]
Glenmark Pharmaceuticals said it has registered its Seretide Accuhaler product in the Nordic region of Europe, including Sweden, Denmark, Norway, Finland and Iceland. “The commercialization of the product would depend on national approval as well as substitution and pricing approvals,” the company said. The product was registered under the decentralized process. The decentralized process is […]
Bharti Airtel today said it has not violated any norms set down by the UID Authority of India for the use of Aadhaar verification. Responding to a notice from the stock exchanges, the company confirmed having received notices from the UID Authority on alleged violations of norms. “We confirm that the company is dealing with […]
Indian pharma company Biocon and its partner Mylan said EU authorities have accepted for review their applications for approving cancer treating biosimilars trastuzumab and pegfilgrastim submitted after completing corrective actions. The applications were resubmitted last month after being pulled in August in response to audit observations relating to one of Biocon’s drug facilities. At the […]
A new plan being bundled with Xiaomi’s new affordable plan, Redmi 5A, suggests that Reliance Jio could soon launch its first monthly unlimited plan priced at Rs 199. The plan, valid for four weeks, will give 1 GB of data per day, unlimited voice and access to Jio apps. The bundled offer on Xiaomi 5A […]
Reliance Naval and Engineering, the defence production arm of the Anil Ambani group, said it was not worried about the petition filed by bankruptcy petition filed by IFC. It said the international organization does not have its loan secured against the assets of the company. Unsecured creditors come lower in priority compared to secured creditors, […]
Reliance Communications, the embattled telecom service provider from the Anil Ambani stable, said a majority of its lenders opposed the move by China Development Bank to move ahead with insolvency proceedings on the company. “At a Committee of Financial Creditors Meeting on 29 November 2017, a majority of Reliance Communications’ lenders, foreign and Indian, aggregating […]
Eros International Media announced its next film Haathi Mere Saathi, a remake of the 1971 film of the same name starring Rajesh Khanna. It will be shot on a large canvas in three languages — Hindi, Telugu and Tamil, and directed by Prabhu Solomon of Kumki and Mynaa fame. “With shooting commencing in Thailand in […]
Pharma major Dr Reddy’s Laboratories said European Union authorities have again allowed it to produce drugs for sale in the EU region at its Duvvada factory in Andhra Pradesh. In its inspection conducted in September, the Regulatory Authority of Germany (Regierun von Oberbayern) had made six major observations on the formulations manufacturing facility near Vishakapattanam. […]
Stock exchanges in India have sought a clarification from India’s largest telecom company by revenue, Bharti Airtel, on a report that it was under investigation by a government agency for allegedly misusing customer data to open bank accounts in their names. “(The) exchange has advised the company to provide clarification/confirmation on the news item in […]
Bharti Airtel continued to expand its lead over Vodafone and Idea in terms of supporting 4G voice services by launching VoLTE or Voice over LTE services in Karnataka. The prices for VoLTE calls will remain identical to those of traditional calls. However, customers who use VoLTE-enabled handsets will be able to enjoy higher quality audio […]
Reliance Capital, the financial services arm of the Anil Ambani Group, said the Securities and Exchange Board of India (SEBI) issued its final observation letter to the draft red herring prospectus filed by its general insurance unit. The group had recently seen the successful IPO of its life insurance company, Reliance Nippon Life Insurance, which […]
Automotive wheel maker Steel Strips Wheels said it won a contract to supply 6,000 truck wheels to a European customer for use on trailers. “Steel Strips Wheels has already marked its entry into the high potential truck and trailer market in EU and aims to strengthen it in the future,” it said. The wheels have […]
