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 […]

HuffPost shuts India edition as govt seeks to oust foreign players

Huffington Post, a new-generation digital publisher, has likely become the first casualty of the government of India’s decision to ban foreign companies from opening news websites in India. About four weeks ago, government of India banned all foreign owned companies from distributing news and current affairs content in India or even supplying news to Indian […]

Maruti launches car rental in Mumbai, Chennai & Gujarat

After launching car subscription services in Delhi-NCR, Bangalore, Hyderabad, and Pune, India’s largest carmaker has brought the service to Mumbai, Navi Mumbai, Thane, Chennai, Ahmedabad and Gandhinagar. The service will cost around Rs 14,690 per month in Gujarat for a Swift LXi for a four-year contract, excluding GST. In Chennai, it will cost Rs 15,196 […]

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 […]

L&T Tech certified to Alexa-enable devices

L&T Technology Services has been certified by Amazon to put Alexa voice technology into all kinds of devices. Alexa is a voice-interaction technology developed by Amazon, and is quickly emerging as one of the leading standards of voice-based interaction for devices. While it started out as a way to interact with Amazon devices such as […]

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 […]

Wipro to eliminate divisions, simplify structure

Outsourcing major Wipro Ltd said it will replace the current way in which it has structured its business by reorienting it along two core themes — product-related services, and infrastructure-related services. Earlier, Wipro used to divide its services into seven verticals and five capabilities. The seven verticals included segments like manufacturing, telecom, consumer products, financial […]

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 […]

OnePlus sales double on Nord 5G demand

OnePlus, the premium smartphone brand from Chinese manufacturer BBK Electronics, saw its India sales double during the third quarter (July to September), thanks to the launch of India’s cheapest 5G smartphone, OnePlus Nord. The phone, priced at around Rs 28,000, helped the brand double its sales in India with a growth of 104% during July-September […]

Airtel’s cable operator tie-up expands to 48 cities

Bharti Airtel said it has expanded its broadband offering under tie-ups with local cable operators to 48 cities as of the end of September, up from 18 cities three months earlier, and will scale it up even faster in coming days. It said it took seven eight months to get the model right, but the […]

Airtel overtakes Jio in 4G subscriber & traffic growth

The numbers released by India’s three telecom operators on their July-September performance show a remarkable trend reversal: For the first time ever, Reliance Jio was no longer the fastest growing data operator in India, losing the crown to Bharti Airtel. While Jio’s mobile data traffic went up by 220 million GBs in July-September compared to […]

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 […]