YES BANK, India’s 4th largest private sector Bank, said it has received approval from Securities and Exchange Board of India (SEBI) for acting as Custodian of Securities, allowing it to act as an intermediary for foreign institutional investors or FIIs. “The Custody business will allow the Bank to comprehensively service the Foreign Portfolio Investors (FPis), […]
Bajaj Electricals, which makes household and kitchen appliances, said it has agreed to buy non-stick cookware maker Nirlep for Rs 42.50 cr. The cookware maker had annual turnover of Rs 47 cr as of last financial year, the company said. “The proposed acquisition will provide a portfolio of products which complements with the offerings of […]
Indian IT outsourcing company Wipro said telecom equipment maker Nokia had moved to the sales order platform designed and operated by it as part of a multi-year outsourcing deal. The company also said it was bringing Latin American cargo company to LATAM Cargo on to its supply a cargo management platform. The size of the […]
K Raheja Corp, one of India’s biggest real estate developers, announced the launch of the fourth tower of its Raheja Vistas project in Nacharam in Hyderabad East. The tower will have 12 storeys and offer 2- and 3-bedroom flats starting at Rs 40 lakh each. “With the first three towers sold out we are confident […]
Alembic Pharmaceuticals said the USFDA has permitted it to sell antibiotic doxycycline in the US market. Doxycycline Hyclate Capsules USP, 50 mg and 100 mg, are considered a medium sized drug from a market perspective and had sales of US$ 80 million in 2017, according to IQVIA. It is sold by Pfizer under thebrand Vibramycin. […]
Maharashtra Navnirman Sena, the party floated by politician Raj Thackeray, has started selling petrol at select pumps in Mumbai at a discount of Rs 9.30 per liter as part of a protest against the high price of fuel. The actual price of petrol in Mumbai is Rs 84.26, while the MNS is selling petrol at […]
Fortis Healthcare said it has cancelled its plan to demerge and list its diagnostics arm, SRL Ltd, and will withdraw the concerned application before the authorities. “The Scheme is currently pending for approval with the National Company Law Tribunal, Chandigarh Bench. Further, the entire process was expected to take 6-8 months, however, due to reasons […]
India is likely to have met its target of adding 10,000 watt of solar power generation capacity in the year ended March 2018, thanks to a sudden spurt of installations during the final months of the year (Jan-Mar), going by numbers released by an independent group. According to Mercom India, a consultancy that tracks the […]
Tata Consultancy Services announced a major expansion of its recently announced deal to take over administration of around 4 mln life and pensions contracts from M&G Prudential, the savings and investments business of Prudential. The deal, announced in January this year, was worth pegged at £500 mln (half a billion pounds) at the time. Today, the company reported […]
Suven Life Sciences said it has obtained one product patent each from China and the US related to its 5-HT4 and 5 HT6 compounds. These patents add to the similar protections won in countries such as India, Korea, Singapore, Canada, Japan and Australia in the past. The Chinese patent has the number CN105814020 and the American […]
The Andhra Pradesh government seems to be sparing no effort at creating a grand new capital in Amaravati to replace Hyderabad, which it lost to Telangana upon bifurcation. Construction major Larsen & Toubro said the state government has given a Rs 1,387 cr contract to build what it called an ‘iconic’ bridge across river Krishna. […]
Videocon Industries, one of the biggest local-grown consumer durables companies in India, confirmed that it had been placed under bankruptcy by the National Company Law Tribunal, in a petition by SBI. With this, the company’s board of directors have lost their power to control the affairs of the company, and its power has been transferred […]
Bharti Airtel said it will increase the number of its telecom network sites in Tamil Nadu by 30% this year, while expanding its fiber network in the state by 21%. It said it will add 12,000 new mobile sites, taking the total to 52,000 by March The fiber capacity will be increased to 17,000 km […]
Larsen & Toubro said it received three new construction orders worth Rs 2,210 cr. Two out of the three, worth Rs 2,044 cr, were in the area of water and effluent treatment, while the remaining one was for constructing a dam across the river Runj in Uttar Pradesh. Among the deals was “a major turnkey […]
Market research firm CyberMedia Research has called the OnePlus 6, the latest smartphone from the eponymous Chinese start-up, the ‘finest Android smartphone out there today’. In a note trying to explain the success of the Chinese company in markets like India, Prabhu Ram, head of Industry Intelligence Group at the firm also called it the […]
Indian pharmaceutical giant Cipla Ltd said it would sell Eli Lilly and Co’s insulin glargine in India. Insulin glargine is a long-acting basal insulin analogue, given once daily to help control the blood sugar level of those with diabetes. Unlike regular insulin shots — which have to be taken multiple times a day — basal insulin releases […]
ALTBalaji, the biggest Indian provider of original online content, is signing up paid users at the rate of 25,000-30,000 per day, said Nachiket Pantvaidya, the CEO of Balaji Telefilms, the company behind the app. “We expect to have paid users of 10 mln by the end of the year,” Pantvaidya said in an interview with BTVI. […]
Bharti Airtel has announced a massive expansion program for its Mumbai 4G network that could increase the data carrying capacity by several times in one year. The expansion comprises four areas — increasing the number of cell sites by about 30%, increasing the 4G spectrum by about 25%, expanding fiber capacity by about 18% and […]
PVR Ltd, India’s largest cinema chain, became even bigger today with the opening of a 5-screen multiplex at Vellore near Chennai, taking the total screens to 630. The latest property has been opened at Velocity, Silk Mill, Gandhinagar and has a total seating capacity of 906 and an area of 24,000 sq. ft.. Vellore is […]
HT Media, the company that publishes the Hindustan Times newspaper, said it obtained approval from its board of directors to invest another Rs 400 cr into its FM business. The company operates ‘Fever 104’ FM stations in over a dozen cities in India. However, it is dwarfed by competitors like Radio Mirchi from the Times […]
