State-owned HLL Lifecare Limited has paid a dividend of Rs 122.47 crore to the health ministry for financial year 2021-22, an official statement said. The cheque was presented to Union Minister of Health Mansukh Mandaviya by Beji George, Chairman and Managing Director, HLL at an event here on Wednesday. HLL had a record turnover of [...]
The government is expecting to get financial bids for IDBI Bank's strategic sale by September, DIPAM Secretary Tuhin Kanta Pandey said. Several global and domestic institutions have expressed interest in buying about 61 per cent of the government and Life Insurance Corporation's (LIC) stake in IDBI Bank and had put in preliminary bids, the last [...]
The National Company Law Appellate Tribunal on Wednesday declined to grant interim relief to Google seeking a stay on competition watchdog CCI's penalty of Rs 936.44 crore on the tech giant for abusing its dominant position with respect to Play Store policies. The appellate tribunal has directed Google to deposit 10 per cent of the [...]
Theranica, an Israeli digital therapeutics company has announced a strategic license and supply agreement with Dr. Reddy's Laboratories Ltd., for the exclusive marketing and distribution of its FDA-approved Nerivio in India, subject to completion of the regulatory approval process. Nerivio is a wearable migraine treatment that stimulates the body's pain receptors in order to relieve [...]
Global investment firm Carlyle on Tuesday said it has acquired a majority stake in homegrown skincare and beauty firm VLCC for an undisclosed amount. Founded in 1989 by Vandana and Mukesh Luthra, VLCC operates in the skincare, beauty and wellness market with an integrated offering of branded skincare products and specialised beauty and wellness services. [...]
State-owned Bank of Baroda (BoB) on Tuesday hiked Marginal Cost of Funds based Lending Rate (MCLR) by up to 35 basis points, making loans linked to the benchmark rates expensive. The new rates will be effective from January 12, BoB said in a regulatory filing. The overnight MCLR has been increased to 7.85 per cent [...]
No-frills airline Go First on Tuesday apologised to passengers who were left behind in a coach at Bangalore airport on Monday and said an inadvertent oversight in the reconciliation of the flight to Delhi led to the incident. The carrier has ordered an inquiry as well as derostered all the staff who were involved in [...]
Axis Bank on Tuesday said it has entered into a revised agreement with Max Financial Services to acquire an additional 7 per cent stake in Max Life Insurance at fair market value using discounted cash flow method. The revision in agreement follows the guidance issued by the Insurance Regulatory and Development Authority (IRDAI) in October [...]
State-owned Coal India's subsidiary NCL will soon start production of M-Sand, a material used for construction works. Northern Coalfields Ltd (NCL) will start production of M-Sand or Manufactured Sand for its Amlohri project in Madhya Pradesh, according to a coal ministry statement on Tuesday. M-Sand is artificial sand produced from crushing hard stones into small [...]
Public sector Indian Overseas Bank has revised interest rates on rupee retail term deposits up to 45 basis points with immediate effect, the city-headquartered bank said on Tuesday. Accordingly, depositors of domestic, NRO (non-resident ordinary) and NRE (non-resident external) would receive interest rate up to 7.75 per cent by opening term deposits for a period [...]
