Laurus Labs buys Bangalore-based biotech firm Richcore for Rs 247 cr

Indian drugmaker Laurus Labs said it signed a definitive agreement to acquire a majority stake in a Bangalore-based, fast-growing biotech company, Richcore Lifesciences, for Rs 246.67 cr. Richcore has advanced R&D and manufacturing facilities to develop and manufacture biotech products critical for manufacturing biological drugs. Richcore also helps its global customers to develop and scale-up […]

Ashok Leyland introduces VRS 2020 scheme

Ashok Leyland, which had introduced a voluntary retirement scheme and an employee separation scheme for its executives in August last year, has approved yet another VRS scheme this year. In a notification, the company said its directors “approved the introduction of Voluntary Retirement Scheme (“VRS”) for all eligible employees” of the company. The approval, it […]

Mahindra to launch 37 new light-weight tractors with Mitsubishi

Mahindra & Mahindra, one of India’s largest automobile and tractor makers, announced the production plans for a new series of advanced tractors being made with the help of its joint venture with the Mitsubishi Group of Japan. While the collaboration was announced earlier, it today unveiled further details about the production roadmap, as well as […]

Equitas Small Finance Bank offers 7% interest on zero-balance savings account

Chennai-based Equitas Small Finance Bank, which listed on stock exchanges earlier this month, unveiled a new type of zero-balance savings bank account with a whopping 7% interest rate. At present, almost no bank offers an interest rate of 7% on savings bank deposits, and many banks offer less than 7% even for fixed deposits. However, […]

V-Mart starts inventory purchases after six months

V-Mart, India’s largest chain of smaller-sized fashion stores, said it has started purchasing fresh stock from its suppliers after nearly six months of freeze on garment procurement. The company was hit hard when a nationwide lockdown was imposed by the central government in late March to control the spread of COVID-19, particularly as it had […]

Apple-supplier Wistron starts expanding India plant

Taiwan-based contract manufacturer Wistron Infocomm has started carrying out a significant expansion of its existing facility in Kolar near Bangalore as Apple Inc continues to source more assembled-in-India iPhones. The information was revealed in a regulatory filing related to an order win by air conditioning equipment provider Blue Star today. “Wistron is a Taiwan based […]

Titan Co’s jewelry business almost back level in Q2

Titan Company, India’s largest jewelry retailer and a part of the Tata Group, said second quarter revenue from its mainstay jewelry division was almost at the same level as what was seen in the same quarter last year, while its eyewear and watches division continued to suffer from the impact of the pandemic. The jewelry […]

Cochin Shipyard to partner global shipbuilding giant Fincantieri

Cochin Shipyard Limited, India’s largest shipbuilder, has signed a partnership agreement with Fincantieri, one of the world’s largest shipbuilders. Besides ship-building, the two will co-operate in the areas of ship design, repair, marine equipment manufacturing and training & skill development, the Kochi-based company said today. Italy-based Fincantieri has over 230 years of history and more […]

Vaishali Pharma enters US market

Mumbai-based pharmaceuticals manufacturer Vaishali Pharma said it has entered the US market by launching its orthopaedic belts and similar products. The company is among the smaller sized pharmaceutical manufacturers in India, with annual sales in the range of around Rs 40 cr. Established in 1989, it manufactures and supplies bulk drugs, pharmaceutical ingredients, formulations, surgical […]

GTPL’s Broadband growth doubles on COVID demand

GTPL Hathway, a cable and broadband network provider focused on Western and Central India, said it has already crossed its full-year target for new broadband connections within the first six months of the year, and has therefore doubled its target for FY21. At the beginning of this financial year, the company had guided towards adding […]

Festival Offer: Samsung announces discounts on NVMe, SSD and MicroSD range

Samsung has announced discounts of around 20-40% on its storage devices, including SSDs, NVMe drives, Micro SD cards and pen drives. The discounts are offered as part of Flipkart Big Billion Days and Amazon Great Indian Festival, which start tomorrow. External SSDs On the external storage drive front, it is offering discounts on both its […]

Dr Lal PathLabs says only 0.5% of records leaked

Dr Lal PathLabs, one of India’s top diagnostic chains, today clarified that the leak of patient data reported in the media involved only 1 in 200 patient records held by the company and did not involve any “material information loss”. “There was a misconfiguration in one of our minor web application where temporary records were […]

Thyrocare Q2 revenue up 37% on COVID-19 testing

Thyrocare, one of India’s leading diagnostic services providers, said its revenue has jumped substantially in the July-September quarter owing to strong demand for COVID-19 testing. A day after competitor Metropolis Healthcare reported a 25% year-on-year jump for the three months, Thyrocare reported a growth of 37% in its revenue. Sequentially, Metropolis’ September quarter revenue nearly […]