Prakash Industries, one of India’s biggest PVC pipe manufacturers, said it has decided to double its production capacity over the next two years. The investment will be entirely funded from the company’s internal funds. “Over the (last 37) years, the company has enhanced its product portfolio and has grown to a capacity of 55,000 Tonnes […]
Fitch Ratings affirmed property developer Indiabulls Real Estate Limited’s Long-Term Foreign-Currency Issuer Default Rating at ‘B+’ with a ‘stable’ outlook, noting that conditions for the real estate developer are improving. “The Stable Outlook reflects the recovery in IBREL’s contracted sales following India’s currency demonetisation last year,” it said. However, it said it couldn’t upgrade the […]
PVR Cinemas, India’s largest theater chain, has launched a new loyalty program to retain, attract and reward high-value customers. The program, known as PVR Privilege, will entitle its members to get reward points for all their spends, and these points can in turn be used to buy tickets and food. The program offers reward points […]
Tata Teleservices Maharashtra Ltd has lost 3.5% of its mobile subscribers in September. The company, which offers mobile and wired telecom services in Maharashtra, Mumbai and Goa saw its mobile users fall to 69.8 lakh (6.98 mln) on September 30 from 72.4 lakh at the end of August. The decline comes at a time when […]
State Bank of India, the country’s largest bank, said Moody’s Analytics will train its employees to source, appraise and monitor loans. SBI employees will be granted the Moody’s Analytics Certificate in Commercial Credit (CICC) as part of the program. The program has been adapted to the India’s banking sector with the help of former SBI […]
Tata Elxsi, the hardware design company from the Tata stable, has tied up with Unity Technologies to set up a center that will develop solutions based on the Unity visualization engine. The Unity platform is arguably the most widely used engine for developing mobile phone games and can also be used to develop 2D and […]
The Tata Motors said group global wholesale rose 14% in September to 1,16,419, including numbers for Jaguar Land Rover. Commercial vehicle wholesales, including Tata Daewoo, rose 20% to 41,503. Global wholesales of all passenger vehicles in September 2017 were at 74,916, higher by 10%, compared to September 2016. Within passenger, wholesales for Jaguar Land Rover […]
VA TECH WABAG, a construction company that focuses on water project, denied reports that it was insolvent and said it was appealing the recent order of the Chennai bench of National Company Law Tribunal. The bench, at its hearing held on 6th October 2017 has passed an order for initiation of Corporate Insolvency Resolution Process […]
Reliance Infrastructure said it has entered exclusive negotiations with Adani Transmission Limited for the sale of its power distribution business in Mumbai. The deal involves its integrated business of generation, transmission and distribution of power for Mumbai City, the Anil Ambani company said. Just yesterday, it said its deal to sell its transmission assets under […]
Suven Life Sciences Ltd said it was granted a patent by New Zealand authorities for “a class of selective 5-HT4 compounds” that are being developed to treat neurodegenerative diseases. The compounds are being explored for use in cases of Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia, it said. The new […]
The U.S. Food and Drug Administration has sought more data before approving a chemotherapy compound submitted by Mylan and jointly developed by Biocon. The agency issued a ‘complete response letter’. Such letters are issued when an FDA review an FDA review finds that an application for a new drug cannot be approved ‘in its present […]
PC Jeweller, the Delhi-based jewellery chain, said it signed up Bollywood stars Akshay Kumar and Twinkle Khanna as it gets ready for a pan-India expansion. The brand, which started 12 years ago with a single shop in Karol Bagh in New Delhi, today has close to 80 outlets. Most, however, are in North India, and […]
Pharma manufacturer Lupin said it received approval to launch the generic version of US World Meds’ Corgard heart drug. Nadolol Tablets USP, 20 mg, 40 mg, and 80 mg Tablets had annual sales of approximately USD 109.8 million in the US, the Indian drugmaker said. Lupin’s Nadolol Tablets are the AB rated generic equivalent of […]
Reliance Infrastructure Limited said it signed an agreement to transfer some of its transmission assets, under the Western Region System Strengthening Scheme (WRSSS), to two of its subsidiaries ahead of their sale to Adani Transmission Limited. In December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission Limited for sale of WRSSS valuing […]
Tata Teleservices Maharashtra, the listed unit of TTSL, said it had not taken any “firm decision” on how to go forward, reacting to a news article in the Business Standard that said the company will shut down this month. Reacting to media reports, the company said it “continues to explore all options in respect of […]
Anil Ambani Group’s Reliance Capital Indian Renewable Energy Development Agency Limited (IREDA) will make available Rs 300 cr for lending to renewable energy and energy efficiency projects. IREDA is a Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). Reliance Commercial Finance Limited, the company subsidiary that operates […]
Idea Cellular and Bharti Airtel are offering 1 GB of 3G or 4G data per day for 84 days at a price of around Rs 400 in select circles, including voice benefits, matching Jio’s lowest tariff. The offer is available only for targeted users. For example, for someone who has already activated a similar pack […]
Idea Cellular, the third largest telecom operator in India by revenue, has started offering new customers 84 GB and free on-net calls for 84 days for just Rs 230 in the Kerala circle. Similar schemes are likely to have been launched in other circles as well. It also offers a 451 rupees first recharge coupon […]
Adani Enterprises Limited said it will demerge Adani Green Energy Ltd by cancelling the shares it holds in the subsidiary and issuing new shares directly to the shareholders of the parent company. Shareholders will get 761 shares of the new company for every 1,000 shares they hold in the parent company. They do not have […]
Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]
