Construction major Larsen & Toubro said its transportation infrastructure and water effluent treatment businesses have jointly bagged an engineering, procurement and construction order worth Rs 1,223 cr from Aurangabad Industrial Township Limited (ATL). The scope of work includes the construction of roads, drains, bridges, potable water network, sewage and common effluent treatment plants, sewerage and […]
Glenmark Pharmaceuticals said it received final approval from the United States Food & Drug Administration for marketing a generic version of joint-pain drug Indocin of Iroko Pharmaceuticals. The drug has annual sales of approximately $6.3 million. With this, Glenmark’s portfolio has expanded to 118 products authorized for distribution in the U.S. and 67 pending approvals […]
Sun Pharma announced a tie-up with National Institute of Virology (NIV) under the Indian Council of Medical Research for testing various compounds for treating rapidly spreading viral infections — Zika, Chikungunya and Dengue. The compounds will include those sourced from plants, animals and chemical entities developed by Sun Pharma. NIV will do the testing against […]
It’s become something of a fashion to complain about job losses in India’s big IT services firms. Companies like Infosys Ltd, Tata Consultancy Services, Wipro and Cognizant employ over a million people in the country, and have been letting go off tens of thousands this year as they grapple with slowing growth and changing business […]
With IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the country’s software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon in NCR are expected to see 10-20 per cent reduction in the housing rents over the next three quarters, according to an ASSOCHAM paper. “IT […]
Content app ALTBalaji said it has signed on with Opera TV, a platform that powers smart TVs, DVD players and other instruments. “All Smart TVs, Blu-ray disc players and Set-top boxes powered by Opera TV will provide instant access to over 250 hours of original content from ALTBalaji. Simultaneously, ALTBalaji Subscribers will now be able […]
SpiceJet announced the launch of four new daily non-stop flights connecting Surat to Mumbai and Hyderabad. From July 10, there will be a new daily direct flight for the Mumbai-Surat-Mumbai sector. It will also start operating its second daily direct flight on the sector in the Hyderabad-Surat-Hyderabad sector. “SpiceJet is the only airline to operate […]
IT services company Wipro Ltd said it would collaborate with commercial Linux maker Red Hat to set up what it called a “cloud application factory” to offer developers a platform to modernize cloud applications. “Wipro’s cloud application factory will have a dedicated services team that can help drive the strategy, design, and delivery of next […]
Reliance Defence, the defence-focused subsidiary of Reliance Infrastructure, said it entered into yet another agreement with an overseas company. This time, the company said it tied up with Daher Aerospace, France, a supplier of integrated systems for aeroplanes. “Daher Aerospace is tier one manufacturer in Aerostructures segment comprising Fuselage Sections and Fairings made of composites […]
Pharma Major Lupin said it launched Desoximetasone cream for treating skin problems in the US market. The company had received approvals from the US Food and Drug Administration earlier. The drug is the generic equivalent of Tarot Pharma’s Topicort, which had US sales of $38 million per year. The drug is used for relief of […]
Reliance Defence, the defence manufacturing arm of the Anil Ambani group, said it will form a joint venture in India with global defence manufacturer Thales to carry out some contracts related to the Rafale jet deal. The Indian company will hold 51% of the equity while the foreign entity will hold the remaining. Reliance Defence […]
Axis Bank confirmed it had sold its 8% share in new-generation card-swiping-machine company Mswipe Technologies. In a regulatory filing, the private sector bank said it sold its 8% stake for Rs 80.94 cr, or Rs 4,249 per share. Mswipe is one of the new generation, low-cost swipe-machine companies, and offers cheaper rates to merchants. Instead […]
Alembic Pharmaceuticals said it received approval from the US Food & Drug Administration for selling a generic equivalent of AstraZeneca’s heart drug Atacand. Approval was granted for the sale of candesantan cilexetil in the dosage of 32 mg. Candesartan cilexetil is used for treatment of hypertension in adults and children and treatment of heart failure. […]
PVR, India’s largest multiplex chain, said it opened its 127th property at Grand Galada Centre Mall in Chennai. The facility will have five screens and is equipped with 2K projection, 7.1 Digital Dolby surround sound and Dolby ATMOS. The screens also support 3-D, the company said. With this, the company now operates 584 screens in […]
Glenmark Pharmaceuticals said it entered into a licensing agreement with Boston-based biopharmaceutical company APC Therapeutics Inc for exclusive rights for a cancer drug. The agreement covers a small molecule based on Antigen Presenting Cell (APC) biology, the Indian company said. “The compound has the potential to be used as a monotherapy or in combination with […]
Finvasia, a technology-driven online broking start-up, announced that it has rolled out what it claimed was India’s first ‘truly’ free online demat account for investing in stocks and derivatives, including futures. There have been many ‘free demat account’ providers in the past too, but such operators usually find some way or the other charge their […]
Textiles and garments brand Raymond inaugurated a garment manufacturing plant in Ethiopia to gain duty-free access to the US and European markets. The plant was set up at a cost of Rs 100 cr and will employ over 2500 people in the first phase. More people will join later, the company said. Ethiopia also gives […]
Reliance Jio users are a happier lot than customers of other services, but call drops and network availability remain key concerns, according to a survey conducted by a market research firm Velocity MR. The firm conducted a study among more than 2000 smartphone users across the cities of Delhi, Mumbai, Bangalore, Kolkata, Hyderabad, Pune, Ahmedabad […]
Taking a leaf from new entrant Reliance Jio’s playbook, Vodafone India has announced a ‘truly unlimited’ five-hour data pack for Rs 29. The pack, called Vodafone SuperNight, will work between 1 AM and 6 AM and is open for prepaid customers only. It will work on both 3G and 4G connections and be available for […]
Jindal Steel and Power said it secured coal linkages of 511,000 tonnes per year in a recently concluded auction for the use of its captive power plants. “The coal linkages, secured for a 5-year duration, will provide steady supply of fuel to captive power plants run by the company for its steel-making operations,” JSPL said. […]
