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 […]
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 […]
New telecom operator Reliance Jio is estimated to have notched up a market share of around 10.5% in terms of total telecom revenue in India, broker Credit Suisse said. However, after deducting interconnect payments made to rivals, Jio’s share is likely at around 9%, it said. “We conclude Bharti and Vodafone+Idea may have lost at […]
The Mukesh Ambani-led telecom operator is likely to start prebooking for its JioPhone device at 5:30 PM today, according to sources. Booking can done in four ways — using the company’s website Jio.com, using the MyJio app and by going to a either a Jio Store or any multi-brand store that sells the device. Customers […]
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 […]
State-owned Oriental Bank of Commerce said it intends to raise Rs 500 cr by selling bonds. “The Bank intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of Rs.10,00,000 each at par aggregating to Rs.500 crore with an option to retain over-subscription of up to Rs.500 crore,” […]
State Bank of India, India’s largest commercial bank, has waived processing charges on car loans till the end of the year, while halving the charge on some personal loans till Sep 30. The bank did not specify the new rates. It already has zero processing fees when someone transfers a home loan from another bank […]
Tata Power announced its plan to set up electric vehicle charging stations across Mumbai, and has set up the first one at its compound in Vikhroli. “These chargers would facilitate electric car users to charge their cars (Battery Electric Vehicles such as the Mahindra e2O, Nissan Leaf, etc) at any time safely and conveniently. The […]
Aurobindo Pharma said it received tentative approval for its for anti-HIV drug Dolutegravir, Lamivudine and Tenofovir Disoproxil Fumarate under the U.S. President’s Emergency Plan for AIDS Relief or PEPFAR. The approved product is used for the treatment of HIV-1 infection along as a complete regimen in adults and pediatric patients weighing 40 kg and greater. […]
Infosys Ltd director board today came out strongly in support of ex-CEO Vishal Sikka and issued a strong rebuttal to a letter released by Infosys founder Narayana Murthy. Earlier in the day, Murthy was scathing in his review of the actions taken by the company and its board in addressing concerns of poor accountability and […]
Infosys co-chairman Ravi Venkatesan today assured investors and employees of Infosys that the changes brought about by Vishal Sikka will not be rolled back or lost with the exit of the CEO. Venkatesan was speaking at the press conference organized by the company to address worries about the resignation of the CEO. He also said […]
Vishal Sikka, the SAP-veteran who took over as the CEO of Infosys four years ago, has put in his papers after continuing differences of opinion with some of the key shareholders. He will, however, continue as the vice chairman of the company. He also wrote a long letter to the employees of explaining his reasons […]
Kerala’s snaking long queues in front of its liquor shops — the state’s only source of alcohol after bars were banned in 2014 — are almost as famous as the backwaters and beaches, but some relief may be on the horizon for hapless liquor buyers. As there are only about 340 liquor shops in a […]
Dish TV, one of India’s biggest DTH operators, has slashed the rates of HD and standard-definition channels to Rs 17 and Rs 8.50 each, plus a tax of 18%. Together, the cost of a single HD channel would come to around Rs 20 and that for a regular channel will come to Rs 10. The […]
Eight months on, the Reserve Bank of India is yet to finish verifying and counting the 500- and 1000-rupee notes surrendered by the public between Nov 8 and Dec 30, 2016, the finance ministry said in a statement on Aug 11. UPDATE: About ten days after this article was published on Aug 17, the government […]
IT solutions provider Wipro said it won a five-year IT infrastructure and applications managed-services contract from Grameenphone, the Bangladesh telecom operator owned by Norway’s Telenor. Under the agreement, Wipro will manage the entire IT infrastructure of the largest mobile telecommunications operator in Bangladesh. It will be in control of end-to-end application development and management, infrastructure […]
SpiceJet has become the first airline to conduct flight services to Pondicherry, the former French colony that is a prominent tourist attraction in South India. The flights will be from Hyderabad. With this new flight, Puducherry will be connected with Delhi, Mumbai, Bengaluru, Chennai, Tirupati, Ahmedabad, Jaipur, Chandigarh, Vijaywada and Varanasi with convenient onward connections […]
The write-off of farm loans in Uttar Pradesh and Maharashtra seems to be encouraging farmers in other states to stop paying back their farm loans to make sure that they will get the benefits of any farm loan waiver program in their state. This has led to a sharp increase in farm loan defaults for […]
BSNL, the state-owned telecommunications company, said it has decided to extent the benefits of all special recharges to its subscribers even when they’re roaming. So far, these special tariffs were available only in the home location. For example, STV 349 which offers unlimited voice call to any network only in home LSA, now the benefit […]
