Four projects of Steel Authority of India Ltd (SAIL) worth Rs 2,338 crore are facing delay due to reasons like delayed placement of orders and supply of materials/equipment, Parliament was informed on Monday. However, there is no cost overrun in these projects, Union steel minister Jyotiraditya M Scindia said in a reply to Rajya Sabha. [...]
Despite the fact that electric vehicles are becoming increasingly popular in India, the hassle of charging the batteries is becoming a major inconvenience. A Surat-based startup identified this issue and responded by opening the first-of-its-kind "battery swapping center," where drivers of electric rickshaws and tempos can swap batteries without having to wait for their vehicles [...]
Mortgage lender HDFC Ltd on Monday said its board has approved raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore. The board has cleared issuance of unsecured, redeemable, non-convertible debentures under a Shelf Placement Memorandum, aggregating Rs 57,000 crore, in various tranches, on a private placement basis, HDFC said in a [...]
Drug major Sun Pharma has said the IT security incident that happened earlier this month will impact revenues of some of its businesses. As part of the containment measures, the company proactively isolated its network and initiated the recovery process. "As a result of these measures, the company's business operations have been impacted. Consequently, revenues [...]
Pharmaceuticals firm Lupin Ltd on Monday said it has received tentative approval from the US health regulator to market its generic valbenazine capsules used to treat involuntary movements of the face, tongue or other body parts. The approval by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application (ANDA) of [...]
Sunlit Power, maker and distributor of ARENQ brand of batteries, on Monday announced a five-year partnership with RDL Technologies in the battery management system space. Under the collaboration, the IoT products and software solutions provider RDL Technology will develop touchscreen displays, data loggers, vehicle navigation, and monitoring systems for Sunlit Power, according to a statement. [...]
IDFC First Bank on Monday said it has partnered with Swedish company Crunchfish to pilot a project to demonstrate offline retail payments. IDFC First Bank, is set to be a part of RBI's pilot project to enable offline payments, the private sector lender said, adding that the project will give access to digital payments even [...]
Hospitality and travel-tech firm OYO estimates its revenue in FY23 to be more than Rs 5,700 crore, up 19 per cent from Rs 4,780 crore it had recorded in FY22, according to its Founder & Group CEO Ritesh Agarwal. At a town hall on Monday, Agarwal told employees of the firm that OYO is aspiring [...]
TVS Motor Company on Monday said it has introduced seven new products in Ghana, Africa. The company has launched various new models like Apache 180 and Neo NX among others. "We take pride in our diverse and robust product portfolio that encompasses Bebeks, motorcycles, and three-wheelers, catering to the needs of customers seeking daily and [...]
Murugappa Group's engineering firm Tube Investments of India and (TII) Azim Premji's private equity fund Premji Invest announced on Saturday that together they would be acquiring Lotus Surgicals, a maker of wound closure products, for a sum of Rs 348 crore. Tube Investments will invest Rs 233 crore for 67 per cent stake, while Premji [...]
