Indoco Remedies wins big order from Germany for uric acid tablets

Pharmaceuticals manufacturer Indoco Remedies has won a major contract to supply Allopurinol, used to bring down uric acid in the blood, from Germany. The two-year contract will generate around Rs 70 cr per year for the company. “This is Indoco’s first own label product in Europe,” said Managing Director Aditi Kare Panandikar. “Germany is totally […]

Hindalco to build 3rd aluminium extrusions plant at Silvassa

Hindalco Industries Limited, the Aditya Birla Group metals flagship, said it intends to set up a 34,000-tonne aluminium extrusion plant at Silvassa, the capital of Dadra & Nagar Haveli, at a cost of Rs 730 cr. The new plant will service the fast-growing market for extruded aluminium products in the western and southern regions, particularly […]

Zydus’ cytokine inhibitor moves into clinical trial

Pharmaceutical manufacturer Zydus Cadila said it received permission to initiate clinical trials for ZYIL1, an oral small molecule NLRP3 inhibitor, as an anti-inflammatory agent. The molecule is being explored for treating a variety of inflammation-related conditions, including Acute Respiratory Distress Syndrome (ARDS), auto-immune diseases, inflammatory diseases, cardiovascular diseases, metabolic disorders, gastro-intestinal diseases (inflammatory bowel disease), […]

Jio Fiber beats ACT; becomes India’s No.1 fiber broadband provider

Reliance Jio, whose entry into wireless telecom decimated the competition, seems to be all set to repeat its performance in the wired broadband space. The company added a whopping 3.03 lakh wired connections and 2.7 lakh fiber broadband connections in the month of September. Before this, the record for the highest number of wired broadband […]

L&T says good response to Seawoods Residences Ph II

Larsen & Toubro, India’s biggest construction firm, said it has got an encouraging response to the launch of its second phase of its Seawoods Residences project in Navi Mumbai. The first phase of the semi-premium housing project, launched early last year, saw decent levels of interest, with reports claiming that the company got 1,800 bookings […]

NOVEMBER AUTO SALES: M&M sees uptick, tractor sales zoom

Mahindra & Mahindra reported its strongest growth yet in the COVID-19 era after sales in November surpassed expectations, with strong numbers coming in from the tractor department. The company reported a whopping 55% jump in tractor sales for November, compared to just 2% in October. Similarly, sales of utility vehicles such as XUV500 jumped 27% […]

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 […]

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, […]

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 […]

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 […]