PVR Pictures, the production and distribution arm of India’s largest film exhibition company, said it has signed an agreement Kumar Mangat Pathak and Abhishek Pathak’s Panorama Studios to distribute films across India. Panorama Studios has produced hits like Omkara, Special 26, Drishyam, Singham, Raid and Pyaar Ka Punchnama, since it was founded in 2005. PVR […]
The ministry of agriculture and farmers’ welfare has clarified that no decision has been taken to make the Pradhan Mantri Fasal Bima Yojana or the PM Crop Insurance Scheme voluntary. At present, any and all farmers who take agricultural loans have to compulsorily take crop insurance. The scheme is reported to be a big money […]
Hotstar, India’s largest premium streaming platform, said 15.6 million (1.6 cr) people used its video streaming app at the same time on June 16, when India played Pakistan in the ICC World Cup in England. In all, 10 cr people logged into the service some time during that day. This is a record for the […]
Bharti Airtel has made ring-back tones or caller tunes free for anyone with a monthly plan of Rs 129 or above. The service used to be charged at Rs 36 per month and lets users specify a song or sound-track of their choice for callers to hear, instead of the regular brr brr. The move […]
India’s Glenmark Pharmaceuticals Ltd said it entered into an exclusive marketing agreement with Novartis Biosciences S.A, a subsidiary of Novartis AG, for three products meant for treating chronic obstructive pulmonary disease (COPD) in Brazil. Under the terms of the agreement, Novartis remains the holder of the registration of these medicines and will be responsible to […]
North Eastern states such as Mizoram, Arunachal Pradesh, Nagaland, Sikkim and Manipur have seen the biggest jumps in the rural employment scheme wage rates fixed for the current year. Mizoram saw a jump of 17 rupees to 211 rupees per day for work done under the MGNREGA scheme during 2019-20, followed by Arunachal Pradesh, Nagaland, […]
Maruti Suzuki, which controls about half of India’s car market, said it has signed an agreement under which Bank of Baroda will provide loans to its dealers and customers. Under the agreement, Maruti Suzuki dealers will be able to get loans from Bank of Baroda by giving their inventory or stock as collateral. The move […]
Singapore-based investment management company Manulife has bought a 49% stake in the asset management arm of Mahindra Finance, marking yet another collaboration between an Indian financial company and a foreign asset management company for operations in India. The transaction has been structured as an investment of $34.9 million, or about Rs 2,000 cr, into the […]
Promoters of MAN Industries (India) Limited, one of India’s top manufacturers of large pipes, have increased their stake in the company by about 2.1 percentage points, the company said. The promoters purchased 12 lakh shares in a bulk deal from the market, it said. The transaction is likely to have cost around Rs 6.25 cr, […]
Glenmark Pharmaceuticals said it received tentative approval from the United States Food & Drug Administration for a generic version of Mylan Pharma’s acne cream Evoclin. According to IQVIATM sales data, the EVOCLIN Foam 1% has sales of $17.0 million per year in the US. EVOCLIN Foam is indicated for topical application in the treatment of […]
HDFC said it has agreed to buy a 51% of Apollo Munich Health Insurance Company Ltd for around Rs 1,347 cr. Apollo Munich will be merged with HDFC’s general insurance subsidiary, HDFC ERGO General Insurance Company Limited, even as Munich Re continues to remain invested in the new, merged entity. HDFC already has a joint […]
lnduslnd Bank said it will give effect to its take over of Bharat Financial Inclusion Limited — formerly known as SKS Microfinance Limited — on July 4. The private sector bank said it received the approval of National Companies Law Tribunal or NCLT last Thursday. With the merger, “all the assets and liabilities of Bharat […]
Mahindra & Mahindra, one of India’s largest car and SUV makers, announced that the prices of its cars and SUVs will jump by up to Rs 36,000 due to new safety norms that kick in from July 1. The biggest price increases will be felt on cheaper and older models such as Scorpio, Bolero, TUV300 […]
SpiceJet, the fastest growing airline in India, said 93.9% of its available seats for the month of May were filled, marking a record 50 months in a row when the company has topped the occupancy chart in India. “This is a feat unparalleled in global aviation industry and a huge milestone for SpiceJet,” said Shilpa […]
Tata Sons, the holding company of the Tata Group, will invest Rs 950 cr into Trent, the retail arm of the group. The money will be used to fund the expansion of the group’s Westside, Star and Zudio retail chains, Trent said. Star is a super market chain, while Zudio and Westside are clothing retailers. […]
Bharti Airtel today said it has become the first telecom operator to launch 4G services in Lakshadweep, a group of islands off the coast of Kerala. The company has launched its 4G network on the islands of Agatti, Bangaram and Kavaratti. “It will be gradually expanded to other islands of the archipelago,” it promised. It […]
Saregama Carvaan, arguably the most successful digital audio product in India, has finally got internet connectivity, and along with it, support for online radio and podcasts. Carvaan 2.0 comes with support for Wifi, said its maker Saregama. “The pre-loaded 5000 songs continue to be accessed anytime without internet along with other features like FM/ AM, […]
Pharmaceuticals maker Caplin Point Laboratories said the US FDA has completed inspection of its Sterile Injectable manufacturing facility at Gummidipoondi in Chennai and issued two observations. The good manufacturing process inspection was done between June 6th and 14th. “The Company believes these to be of procedural in nature and the corrective and preventive actions for […]
Diversified group Piramal Enterprises Ltd said it has sold its entire direct stake of 9.96% in Shriram Transport Finance Co Ltd via the stock exchanges. The move comes at a time when non-banking finance companies find the going tough due to a slow down in credit flow to the industry. The company did not reveal […]
Hyderabad-headquartered pharmaceutical firm Dr Reddy’s Laboratories said that it will sell two of its branded neurology products to US-based pharmaceutical company Upsher-Smith Laboratories. Dr Reddy’s will sell its US and select territory rights for Zembrace Symtouch injection and Tosymra nasal spray to Upsher-Smith. Both drugs are sold through Dr Reddy’s wholly-owned subsidiary, Promius Pharma. Zembrace […]
