NTPC Ltd, the public sector power producer, will add 5,680 MW of power generation capacity this year and spend about Rs 22,300 cr on capital projects, the power ministry said. Out of the Rs 22,300 cr required for capital expenditure this year, Rs 12,468 cr will be borrowed and the remaining will be raised via […]
Idea Cellular, India’s fourth largest telecom company, officially confirmed the receipt of approval for its mega merger with Vodafone India. “We wish to inform you that the Department of Telecom has approved the merger of Vodafone India ltd and Vodafone Mobile Services Ltd with Idea Cellular Ltd,” the company said in a statement today morning. […]
India’s Information Technology Department today unveiled a new plan of action to combat fake news that would require foreign social media firms like Facebook, Twitter and Google to establish offices in India and actively help in flagging and tracking down people who post troublesome messages online. Ravi Shankar Prasad also said WhatsApp, in particular, has […]
Eros International Media, one of India’s leading content producers, said it has formed a joint venture company with V Vijayendra Prasad, the writer of popular movies like Baahubali, Magadheera and Bajrangi Bhaijaan. Eros International said Prasad has already penned down 10 stories that will be converted into films by the new company. “To bring these […]
PVR Cinemas, the country’s largest cinema exhibition chain, said it has opened a four-hall multiplex cinema at Garuda Mall in Mysore. The multiplex has 948 seats and comes with 2K projection systems, Dolby Digital 7.1 surround sound and next generation 3-D screens. The property is spread over 29,500 square feet. Chairman and MD Ajay Bijli said […]
Sun Pharmaceutical Industries said it has launched the glucose regulating drug metformin hydrochloride in the United States. The tablets in two strengths — 500 mg and 1000 mg — have an addressable market size of around $443 million, the company said, quoting IQVIA. Metformin hydrochloride is sold in the US by Santarus Inc under the […]
Maruti Suzuki, India’s largest carmaker, said it will recall 1,279 units of new Swift and new Dzire cars to check for a defect in the airbag system. These vehicles were manufactured between 7th May 2018 and 5th July 2018, the company added. The suspected defect is in the Airbag Controller Unit. The company said the recall is […]
Facebook has emerged as the social media platform that has the highest degree of compliance with Government of India’s blocking requests, while Twitter and Instagram have the least. In all, the government issued blocking requests for 2,205 posts in 2017 and 2018 (up to June), out of which 74% were taken down by the concerned […]
Ministry of Home Affairs today denied media reports that said that the center would set up a police force dedicated to fighting cyber crime. Law and order is a state subject in India, and currently cyber crimes are dealt with by state police forces. Earlier this year, media reports suggested that the home ministry had […]
The price of petrol charged to the dealers, before taxes and deal commission, is Rs 36.68 per liter in India as of July 16, while that of diesel was Rs 39.77, ministry of petroleum and natural gases has revealed. However, on that day, petrol was being sold at Rs 84.22 per liter in Mumbai and […]
Maruti Suzuki said it has completed production of 20 million (2 cr) vehicles in India, 34 years after it started production. The feat has been achieved in a little over seven years after the company hit the 10 mln (1 cr) milestone. The carmaker is the only one in India to achieve the feat, even […]
Government of India has faced questions from members of parliament on reports that it has asked state-owned refiners to get ready to stop importing crude oil from Iran in the face of pressure from the United States. A question from Lok Sabha MPs Supriya Sule and Mullappally Ramachandran sought to know “whether the Government has […]
IDBI Bank, which is the target of an acquisition move by the Life Insurance Corporation of India, has emerged as the bank with highest proportion of bad loans among public sector banks in India. As of the end of 2017-18, IDBI Bank had a gross non-performing asset percentage of 28%. In other words, out of […]
The finance ministry has clarified that it is yet to take a final decision on the proposed acquisition of IDBI Bank by India’s largest insurer Life Insurance Corporation or LIC. Responding to concerns of “hard earned money of the LIC policy holders sinking” in the deal, finance minister Piyush Goyal said it was LIC that […]
Zydus Cadila said it received the final approval from the USFDA to sell Spironolactone Tablets, used to treat blood pressure and heart failure. The tablets, in strengths of 25 mg, 50 mg and 100 mg, will be used for lowering high blood pressure to prevent strokes, heart attacks and kidney problems. It is also used […]
Infosys Foundation, the philanthropic arm of Infosys, said it has signed an agreement to construct and maintain a metro station next to its main campus in Electronics City, Bangalore. The station, to be constructed at Konappana Agrahara, will be covered under the second phase of Bangalore Metro’s expansion plans and is expected to be operational by […]
HT Media, the publisher of Hindustan Times and Mint newspapers, reported disappointing advertisement sales for the Apr-Jun quarter, and said corporations were not spending on ads due to poor earnings growth. The company generated only Rs 221 cr during the three months from advertisement sales at its English newspapers Hindustan Times and Mint, a decline […]
Hindustan Media Ventures, which publishes Hindustan – the Hindi newspaper from the Hindustan Times Group, showed no signs of a recovery in its business as print media continued to grapple from the impact of rising internet penetration. Net profit fell 73% on year to Rs 13.2 cr, even as profit before exception items and tax […]
Larsen & Toubro, India’s largest construction firm, said it has won what it called a “significant” order from HPCL- Mittal Energy to construct seven cracker furnaces at the Bathinda Refinery in Punjab. The seven furnaces are of “1200 KTPA Dual Feed Cracker Unit” and is a part of the Guru Gobind Singh Polymer Addition Project. […]
Glenmark Pharmaceuticals said received approval from the United States Food & Drug Administration to sell cholesterol-lowering drug Colesevelam Hydrochloride in the country. The approval is for two packet sizes – 1.875 grams and 3.75 grams. Colesevelam Hydrochloride is the generic version of Daiichi Sankyo’s oral suspension Welchol. Welchol had annual sales of approximately $73.0 million for […]
