Electronics manufacturer Dixon Technologies said that it has acquired 50% shares in its joint venture company, Padget Electronics Private Ltd. Dixon had previously held a 50% stake in Padget. With this, Padget Electronics has now become a wholly-owned subsidiary of Dixon Technologies, the OEM said. Padget had a turnover of Rs 1,351 crores in the […]
Automobile manufacturer Maruti Suzuki said that its Celerio models crossed the one lakh annual sales milestone. Celerio sold 1.03 lakh units of vehicles in 2018-19, an increase of 10% from previous year. Apart from Celerio, other Maruti Suzuki cars in the club of over 1-lakh sales include Vitara Brezza, Dzire, Baleno, Swift, WagonR and Alto. […]
Pharmaceutical major Lupin said that it has launched a generic equivalent of AbbVie Inc’s AndroGel, a a day after it received approval for its sales from the United States Food and Drug Administration (USFDA). Testosterone Gel is used for hormone replacement in men who are not able to produce enough testosterone. The medication is absorbed […]
SpiceJet, one of India’s top airlines, said it will add 16 Boeing 737-800 NG aircraft to its fleet over the next ten days, even as rival Jet Airways has reportedly ground about 70 aircraft due to financial troubles. Ajay Singh, Chairman and Managing Director, SpiceJet indicated his company would add more. “This is the first […]
Telecom Analytics Solutions provider Subex Limited said that it has partnered Spanish multinational telecommunications company Telefonica on a new cybersecurity venture focussed on Internet of Things (IoT) security. IoT security refers to safeguarding connected devices and networks in the Internet of Things (IoT). IoT involves adding internet connectivity to devices and machines and animals to […]
Pharmaceutical major Lupin said that it has received approval from the United States Food and Drug Administration for the sales of a generic equivalent of AbbVie Inc’s AndroGel. Testosterone Gel is used for hormone replacement in men who are not able to produce enough testosterone. The medication is absorbed through the skin, enters the bloodstream, […]
IT firm Tata Consultancy Services (TCS) said it has been selected by one of the largest insurers in the United Kingdom, Ageas UK, to transform its digital infrastructure. Headquartered in Brussels, Ageas is Belgium’s largest insurer and operates in 14 countries worldwide. As per the deal, TCS will help Ageas UK to consolidate data centres, […]
Infrastructure major Larsen and Toubro (L&T) said it has purchased the entire stake held by the Tamil Nadu Industrial Corporation Ltd (TIDCO) in one of its subsidiaries, L&T Shipbuilding Ltd. TIDCO previously held a 3% stake in L&T Shipbuilding Ltd. Post the acquisition worth Rs 32.74 crore, L&T Shipbuilding Ltd will become a wholly-owned subsidiary […]
Global wholesales of Tata Motors Group, including Jaguar Land Rover, declined 5% in March this year. The group sold 1.45 lakh vehicles during the month. Last week, Tata Motors had announced that its domestic retail sales had dropped by 1%, or 700 units, to 68,709 owing to ‘weaker consumer sentiments’. In the wholesale numbers, commercial […]
Pharmaceutical major Lupin said that it launched a generic equivalent of Alvogen Group Holdings’ psychiatric drug Fluoxetine. Fluoxetine tablets sold in 60 mg dose had annual sales of $41 million in the US market as of February 2019. Fluoxetine is also sold under the brand name Prozac as a treatment for depression and other mental […]
Pune-headquartered multinational company Bharat Forge said it acquired a 51% stake in Kolhapur-based metallic products manufacturing company Eternus Performance Materials for Rs 37.45 lakhs. Eternus had a turnover of Rs 1.16 crore for the financial year 2017-18. Eternus is in the business of high-end research and development oriented manufacturing of advanced composite products and precision […]
Renewable energy solution provider Suzlon Energy Ltd said that it has sold two of its solar farms — Shreyas and Aalok — to Ostro Energy Pvt Ltd, a wholly owned subsidiary of ReNew Power Services Ltd. “The company has received an aggregate consideration of Rs 10.13 crores on the sale of 26% of its existing […]
IT company Tech Mahindra Ltd said that it has acquired 18.1% stakes in each of two India-based logistics and asset tracking firms – Infotek Software and Systems Pvt Ltd and Vitaran Electronics Pvt Ltd. With the acquisitions, worth Rs 130 million, the company aims to leverage the presence of the companies in the Radio frequency […]
JSW Steel Limited, the flagship company of the Mumbai-based JSW Group, reported a 3% decline in production of crude steel in the fourth quarter of Financial Year 2019. JSW produced 4.17 million tonnes of crude steel during this period, compared to the 4.31 million tonnes produced a year ago. Besides crude steel, the company also […]
Indian pharmaceutical manufacturer Caplin Point Laboratories said that its wholly-owned subsidiary Caplin Sterlites Ltd signed a licence and supply agreement with US healthcare firm Baxter International for sales of five generic injectable drugs. Under the agreement, Caplin will be supplying its products to Baxter for sales. “All these ANDAs [generic drugs] have been developed in-house, […]
Two-wheeler maker TVS motors said that it launched four new products in Bangladesh: Apache RTR 160 4V single disc, TVS Max 125, TVS Metro 100cc motorcycle, and utility vehicle TVS XL100 Heavy Duty. Bangladesh is one of the key export markets for TVS Motors. It distributes its two-wheelers through TVS Auto Bangladesh across the country. […]
Pharmaceutical manufacturer Zydus Cadila said that it received tentative approval from the US Food and Drug Administration for sales of a generic equivalent of UCB Inc’s Vimpat tablets. A tentative approval means that the company has to wait for all patent and other protections to expire before starting the sale of the drug. Lacosamide is […]
Adani Power Ltd (APL), a subsidiary of Adani Enterprises Ltd and a part of the Adani Group, said that it has received the Letter of Intent for the acquisition of Korba West Power Company Limited. The development comes after the committee of creditors of Korba West Power, which is currently undergoing insolvency resolution process and […]
Mohanlal’s latest movie ‘Lucifer’ directed by Prithviraj Sukumaran is continuing its glorious run at the box-office, and until now, it has grossed more than 85 crores. Current demand for tickets and advanced booking status indicate that the film will enter the 100 crore club in another three to four days. However, Lucifer’s box-office run will […]
India’s most aggressive low-cost carrier SpiceJet launched a daily direct flight connecting Mumbai with Thai capital Bangkok, becoming the first Indian budget carrier to provide services on the route. The airline also introduced six domestic flights connecting Mumbai with Chennai, Varanasi and Kolkata. The international flight will start from May 17 while domestic flights will […]
