Pharma Major Lupin Ltd said it received final approval from United States Food and Drug Administration for selling Memantine Hydrochloride extended-release capsules, a generic version of Allergan’s Namenda XR capsules. Namenda XR extended-release capsules are approved by the USFDA for the treatment of moderate to severe dementia of the Alzheimer’s disease. It does not cure […]
Yes Bank said it will raise up to Rs 2500 crore by way of debentures. This will comprise Rs 1,000 crore of unsecured redeemable long-term bonds and a green shoe option for an additional Rs 1,500 crores. The bonds will be sold via private placement. The bank had earlier got shareholder approval to raise up […]
Tata group’s ecommerce venture CLiQ has announced its first festive season offers by providing exciting deals, new launches, flash sales, best price offers and bumper prizes for its customers. “Tata CLiQ has earmarked 50% of its marketing budget for the one month long festive offer named ´Festober´ celebrations,” said the e-commerce website. Tata CLiQ will […]
Jet Airways has launched a new online shopping platform which will reward its users with its air miles that can be redeemed for booking flights later. The first partner in the venture is Flipkart, which will provide the back-end support. Points are earned every time a customer shop on the platform. The JPMiles accumulated by […]
Zee Entertainment Enterprises said it bought UAE-based Hum 106.2 FM, marking its first radio property. After being a pioneer with the launch of India’s first Hindi Satellite channel, Zee TV in 1992, Zee Entertainment was the first to launch a Bollywood TV channel, Zee Aflam in 2008 for the Arab audience as well introduce the […]
Tube manufacturers Cubex Tubings Ltd said it received a contract worth Rs 23.5 crores to supply Cu NI tube to Oman Oil Refineries and Petroleum Industries Company. The goods have to be supplied within 36 months. “CUBEX”, founded in 1979, is a producer of copper and copper base alloy products. The company manufactures Tubes, Rods, […]
Mobile handset manufacturer LAVA International Ltd launched its new LAVA A97 with 4G access and 5 MP selfie camera at Rs 5,949. Lava A97´s wide range of specifications includes 5 inch screen of FWVGA resolution, 5MP rear and ‘selfie’ camera (both with LED flash), 4G VoLTE connectivity, etc. The smartphone is packed with new camera […]
Government of India invested Rs 508 cr into Corporation Bank, raising its stake from 67.2% to 70.76%. The investment came in the form of fresh purchase of equity at a price of Rs 40.78 per share. The shares are currently trading at Rs 44.70. They rose by 3% today on the NSE. Corporation Bank is a public […]
Bank of India said it had revised its base rate from 9.70% to 9.65 %. The revised rate will be in effect from Friday. Base rate is the minimum interest rate that the bank charges. It is not allowed to issue loans below this rate to any of its customers. Bank of India is a […]
Film distributor Eros International Media said it has partnered with UAE’s film distribution and exhibition network Phars Film to jointly co-produce Malayalam films along with exploration of theatrical rights between the two entities. The deal licenses Eros to distribute all jointly produce Malayalam movies in India while Phars Films would present the same overseas where it enjoys a dominant market […]
Real estate company Kalpataru Ltd said it will support ‘Hamara Station Hamari Shaan’, an initiative to beautify the railway premises in Mumbai. The project includes makeover of 36 Railway stations across Central and Western suburban lines in Mumbai between 2nd to 8th October 2016. It is a joint initiative of ‘Mumbai First’ and ‘Making A Difference’ […]
Cash-strapped Cyber Media India Ltd. said its sale of US unit TDA group will generate funds of $4.58 mln (30.43 crores). The deal for the sale of its wholly owned subsidiary TDA Group was announced yesterday. The company added that the subsidiary accounted nearly half of its revenue last year. Cyber Media has seen its […]
Indian government approved the acquisition of stakes in two Russian oil fields for US $3.2 billion. A consortium of Oil India Limited, Indian Oil Corporation Limited and Bharat Petro Resources Limited (BPRL) will acquire 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from Rosneft Oil Company, the National Oil Company […]
Training provider NIIT said it tied up with the University of Danang in Central Vietnam to embed its training programs in the University. Students may undergo a four-year bachelor degree program or a three-year associate degree program in information technology. University system will continue to teach the subjects such as language, science etc. to obtain […]
Even as the telecom industry finds itself in a tariff war with entry of a major player, an ASSOCHAM-KPMG paper has pointed towards the operators grappling with a huge debt burden of Rs 3.80 lakh crore, reinforcing a case for rationalisation of taxes and other levies along with spectrum charges. The telecom operators have an […]
Arrow Greentech, a Mumbai based packaging solution provider, said it has received a patent from United States Patent and Trademark Office for self-destructive packaging film which is also water soluble. The water-soluble packaging film will also be embedded with various security elements which will get destroyed irreversibly upon final usage. The whole package along with […]
Nandan Denim Limited (NDL), a Gujarat- based fabric manufacturer, said it is planning to issue 50 lakh convertible warrants to foreign investors at Rs 200 each, aggregating to Rs 100 cr. “The company will be issuing 25 lakh fully convertible warrants each to Foreign Portfolio Investors, LTS Investment Fund Ltd and LGOF Global Opportunities Ltd […]
Ola, one of India’s largest cab aggregators, said it has integrated Siri andApple Maps to its mobile app for iOS 10. The company also launched an app for Apple Watch users. Using just their voice iPhone and iPad users running iOS 10 can simply say, “Hey Siri, get me an Olacab” to book their next ride, […]
Bharti Airtel slashed its data and voice rates for international roaming customers in certain countries. The company has introduced new packs offering outgoing call rates of Rs 3 per minute and pay-as-you-go data rates of Rs 3 per MB. It will also bundle as much as 3 GB of data that can be consumed in […]
Mahindra & Mahindra´s agri solutions company Mahindra Univeg Pvt Ltd. said it has invested in Merakisan PVt. Ltd., an agri e-commerce start-up. Mahindra Univeg Pvt Ltd. is a 60:40 joint venture between Mahindra Agri Solutions Ltd. and and Belgium based Univeg (Greenyard Foods). It focuses on developing fresh fruit supply chain in India and imports […]
