Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries, said it will take a loan of $1 bln from Korea Trade Insurance Corporation to purchase goods from Korean companies Samsung and Ace Technologies. “The Facility is K-SURE’s largest deal in India as well as the largest deal supported by K-SURE in the telecom sector globally,” […]
St Agnes College, one of the top destinations for higher education for women in Mangalore, has invited protests by some Muslims for continuing with its ‘no hijab’ policy inside classrooms. The college, run by Sisters of the Apostolic Carmel Congregation, said students have to conform to the college’s dress code that has been in existence […]
India’s largest oil and gas producer said the move by the Competition Commission of India to initiate a full investigation into the way the company hires offshore support vessels will have no material impact on the company. Under SEBI guidelines, listed companies must disclose any development that will have a material impact on the company […]
Air conditioning company Voltas said Voltbek, its joint venture with Turkey’s Ardutch, will set up its first factory to produce refrigerators and washing machines in Sanand in Gujarat. The two companies had announced a joint venture agreement a year ago. “Voltbek has today laid ground to start construction of their first manufacturing facility, spread over […]
KPR Mill Limited, which makes yarn, garments and sugar, said it has decided to enter into what it called ‘branded retail business’. “We wish to inform you that KPR plans to enter into branded retail business,” the company said in a regulatory filing. “(We have) initiated building up the retail business team,” it said. However, […]
Mall developer The Phoenix Mills Ltd said it purchased an under-construction 1.1 mln sq ft mall in Indore from an asset reconstruction company for Rs 234 cr. The Mumbai-based company said it will christen the mall Phonenix MarketCity Indore and it will be ready by around the end of financial year 2021. “80% of the […]
A consortium of three companies — Capacite Infraprojects, Tata Projects and CITIC Construction said they have received a Letter of Acceptance from Mumbai Housing and Area Development Board for the redevelopment Mumbai’s BDD Chawls — the biggest such project in India. The redevelopment of BDD chawl involves the tearing down 121 chawl buildings that are […]
Career Launcher, which runs a host of test-preparation services, has announced a unique service to help and guide applicants to Delhi University colleges. Upon registering on the firm’s website, “students are redirected to a panel of expert counselors, who will analyze the individual’s profile and the options available, to help in deciding the best combination […]
Bharti Airtel has started offering Google’s flagship smartphone, Pixel, on its online store at an EMI of Rs 2,799. Both the Pixel 2 and Pixel 2 XL are available, but have different down-payments. The Pixel 2 requires a down-payment of Rs 10,599 for the 64 GB version and Rs 12,599 for the 128 GB version. […]
Drug maker Cipla said it received final approval for selling a generic testosterone injection in the US. Cipla’s Testosterone Cypionate Injection 100mg /ml and 200mg /ml is an AO-rated generic equivalent version of Pharmacia and Upjohn’s Depo-Testosterone. Depo-Testosterone and its generic equivalents h ad US sales of approximately $191 M, according to IQVIA. The drug […]
Kerala has emerged as the state with the highest smartphone penetration in the country, according to data released by CyberMedia Research, a market intelligence firm tracking the technology sector. CMR’s data also reveales that on a pan-India level, about 47% of the mobile phone users in India are on smartphones, with the remaining 53% still […]
Bharti Airtel has issued a letter on social media explaining its side of the controversy that broke out after an employee with an Arabic name was rejected by a customer on the basis of his possible affiliation to Islam, and the request was subsequently handled by someone with a Sikh name. Explaining the incident, the […]
Bharat Sanchar Nigam Ltd could end up launching 5G services as early as the first half of 2019, going by comments made by a senior official at an industry forum today. Speaking at the Mobile Device Summit 2018 organized by ‘The Mobile Association’, Anil Jain, the company’s Chief General Manager in charge of New Generation Networks promised […]
Zydus Cadila, one of India’s largest drug makers, said it has received tentative approval to market tadalafil, the generic ingredient of the most popular erectile dysfunction drug Cialis, in the US market. The drug will be manufactured at the group’s facility at Moraiya, Ahmedabad. The USFDA approval comes weeks before Cialis is expected to lose patent […]
Glenmark Pharmaceuticals received a boost for its plans to manufacture drugs within the US, with the FDA approving the first generic manufacturing application from the facility. The FDA approved the manufacturing of Atovaquone and Proguanil Hydrochloride Tablets at its Monroe, North Carolina facility via a supplementary ANDA (drug application). “This approval is an important milestone for our […]
Tata Consultancy Services said it opened its third delivery center in France, with a capacity to seat up to 230 employees. The new DC is being opened at Suresnes near Paris. The company, which opened its first delivery center in 2012 and a second one two years later, did not specify how many employees would work […]
AU Small Finance Bank said it received its shareholders approval for Singapore-based Temasek to invest around Rs 1,000 cr in the bank for a stake of around 5%. “This is the largest primary capital infusion in AU Bank and its first ever since their last raise in fiscal 2012,” said the bank, which went public […]
Indian Pharma major Lupin said it has signed an agreement with Japan-based generics maker Nichi-Iko to market its upcoming biosimilar drug, Etanercept, in the far eastern nation. Etanercept, already approved in the US, is used to treat inflammatory conditions. It is pending approval in Japan and Europe. According to Lupin, the non-US market for Etanercept […]
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 […]
