On Thursday Sun Pharmaceutical Industries said one of its wholly-owned subsidiary unit has tied up with US-based Pharmazz Inc to commercialise a drug used to treat cerebral ischemic stroke in India. One of the company's wholly-owned subsidiaries has entered into a license agreement with the US-based biopharmaceutical company to commercialise a first-in-class innovative drug, Tyvalzi, [...]

Enterprise Wire India An important market for credit cards and other financial products in India is Bajaj Markets, a division of Bajaj Finserv. It recently partnered with IndusInd Bank to offer credit cards with alluring deals and advantages. Now, one can apply online via the Bajaj Markets app or website for the IndusInd Bank Platinum [...]

Ethnic apparel retailer Sai Silks (Kalamandir) Ltd. on Wednesday said that on September 20 its initial share sale will open for public subscription. On September 18 bidding will open for anchor investors. According to the Red Herring Prospectus (RHP), The offer of Sai Silks (Kalamandir) Ltd (SSKL) comprises fresh issue of equity shares worth up [...]

Adani Enterprises Ltd. said on Wednesday that its arm Adani New Industries Ltd has received a key international certification and will now be able to start production of 5.2 MW series wind turbine generators for global markets. The company was so far manufacturing and supplying 5.2 MW Wind Turbine Generators (WTGs) for domestic wind industry [...]

On Wednesday Sajjan Jindal-owned JSW Infrastructure said its initial share sale will open for public subscription on September 25. The IPO comprises a fresh issue of shares worth Rs 2,800 crore. According to the Red Herring Prospects (RHP) JSW Infrastructure's issue will conclude on September 27, while the bidding for the anchor investors will open [...]

Commerce and Industry Minister Piyush Goyal said on Wednesday that US-based electric vehicle maker Tesla is looking to source components worth around USD 1.9 billion from India this year against USD 1 billion last year. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth [...]

Early on Thursday, amid a generally robust trend in Asian markets and buying in IT and financial sectors, the equity benchmark indices Sensex and Nifty reached their record highs as part of their continuous rise. Rallying for the 10th day running, the 30-share BSE Sensex jumped 304.06 points to 67,771.05 -- its all-time peak -- [...]

Units of REITs and ETFs issued by companies headquartered in GIFT City or traded on local exchanges are to be exempt from capital gains tax, according to the government. Any unit of an investment trust, a unit of a scheme, or a unit of an ETF launched under the International Financial Services Centres Authority (Fund [...]

In order to support space-tech innovations through cloud computing, ISRO and IN-SPACe have signed a memorandum of understanding with Amazon Web Services (AWS). AWS said in a statement on Wednesday that the partnership with ISRO and the Indian National Space Promotion and Authorization Centre (IN-SPACe) aims to give space startups, research institutions, and students access [...]

On Wednesday, the government gave the go-ahead for Cyprus-based Berhyanda Ltd.'s proposed foreign investment of up to Rs 9,589 crore in Suven Pharmaceuticals. An official statement following the meeting of the Cabinet Committee on Economic Affairs stated that the approval is for Berhyanda to purchase up to 76.1% of the outstanding shares of Suven Pharmaceuticals [...]

The benchmark Sensex increased for a ninth consecutive session on Wednesday as buying in banking, energy, and telecom shares was sparked by positive macroeconomic data. The Nifty also closed above the record 20,000 mark for the first time. In day trading, the 30-share BSE Sensex recovered from early lows to trade close to its all-time [...]

The opening of DP World's 3.80 million square foot warehouse in Bhiwandi, Maharashtra, was announced on Wednesday. The facility, which went into operation on September 1, will serve companies in and around the region involved in industries like chemicals, pharmaceuticals, electric vehicles, and agriculture. The company said that with the addition of the new strategically [...]

To avoid having its assets seized to cover a loan default, lenders claim Byju's hid USD 533 million in a mysterious, three-year-old hedge fund. However, the ed-tech giant claims that its agreement with lenders did not explicitly forbid the movement of funds. According to a lawsuit filed in a US court, Byju's US-based subsidiary Alpha [...]

According to a senior government official, the government is investigating legal options against electric two-wheeler companies for failing to adhere to the FAME II scheme norms. In response to seven manufacturers of electric two-wheelers claiming incentives while failing to follow the rules of the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, the [...]

With 6.8 million square feet, BFSI leasing recovered in 2022 and surpassed pre-pandemic levels. In H1 2023, higher domestic demand helped the BFSI sector's share of overall leasing increase once again to 15%. Bengaluru came in second with 24% of the leasing market, trailing Mumbai's 31% share. According to Colliers, the banking and finance industry [...]

Allcargo group firm Gati on Wednesday said it is expecting an 18–20% increase in festive season demand, particularly in segments such as e-commerce and white goods, among others, this year. The company said it is geared up to cater to this anticipated surge with its enhanced warehousing and service delivery capabilities. Gati has surface transhipment [...]

Hinduja Group on Tuesday said it has collaborated with Raffles Hotels & Resorts to restore 'The Old War Office' of Britain's World War II era prime minister Winston Churchill. The group said in a statement that the property with 120 guest rooms and suites, along with restaurants and spas, will be inaugurated on September 26, [...]

On a private placement basis to issue non-convertible debentures for up to Rs 250 Cr, MSME and vehicle loan provider Baid Finserv Ltd has approved.   In the recent 32nd Annual General Meeting (AGM), the company approved the issuance. The terms and conditions of the issue will be decided by the board of directors, a release [...]

In protest of the high value-added tax (VAT) rate on petrol, the Rajasthan Petroleum Dealers Association has called for a strike on Wednesday and Thursday from 10 a.m. to 6 p.m. across the state. The Association has called for a two-day symbolic strike on September 13 and September 14. State President of Rajasthan Petroleum Dealers [...]

To fund business growth state-owned Bank of Maharashtra (BoM) on Tuesday said it plans to raise Rs 1,500 crore through bonds. BoM said in a regulatory filing, the lender intends to raise the funds through private placement of Basel-III compliant tier II bonds. The issue size is Rs 250 crore with a green shoe option [...]

In the illiquid stock option segment on the BSE for indulging in non-genuine trades, SEBI has imposed fines totaling Rs 35 lakh on seven entities. In seven different orders on Monday, the regulator slapped a fine of Rs 5 lakh each on Subhash Kumar Poddar HUF, Manoj Kumar Goenka HUF, Ayan Akhter Husain, Ankita Didwania, [...]

On Tuesday TPG-backed wires and cables manufacturer RR Kabel Ltd said that it has mobilised Rs 585.62 crore from anchor investors ahead of its initial share sale. According to a circular uploaded on the NSE, an average price of Rs 1,035 apiece, the company has allocated 56,58,201 equity shares to 54 entities. HDFC Mutual Fund, [...]

Due to the sale of the retail division to Axis Bank, the net profit for the Indian operations of the American lender Citi increased to Rs 13,614 crore in FY23. A net profit of Rs 4,700 crore, or a 26% increase over the Rs 3,727 crore it reported for FY22, was reported by the lender [...]

On Tuesday, Tata Power Delhi Distribution disclosed a strategic alliance with Utiltyx, the Indian division of a US-based software company that specializes in data analytics and cyber security. According to a statement from the company, the partnership aims to improve the organization's readiness against potential threats and challenges related to cyber security. According to the [...]

In an effort to promote environmentally friendly coal transportation, Coal India Ltd has committed to investing a total of about Rs 24,750 crore in 61 first-mile connectivity (FMC) projects over the next few years. The projects, which will be built in three phases, will have a combined annual capacity of 763.5 million tonnes, according to [...]

The US International Development Finance Corporation has authorized financial assistance to Tata Power Renewable Energy Ltd. in the amount of up to USD 425 million (Rs 3,521 crore) for the establishment of a 4.3 GW solar cell in Tamil Nadu by its subsidiary. According to a statement released on Monday by Tata Power Renewable Energy [...]

According to industry group SIAM, wholesale sales of passenger vehicles in the nation increased 9% year over year in August as a result of strong demand for SUVs and other utility vehicles. From 3,28,376 units in August 2022, the total number of passenger vehicles dispatched to dealers increased to 3,59,228 units last month. Sales of [...]

According to Diversified PSU Balmer Lawrie, some of its business units, including industrial packaging (IP) and logistics services (LS), may face significant challenges as a result of global geopolitical developments like the conflict between Ukraine and Russia. The firm's outlook indicates that the Russia-Ukraine situation is still having a negative impact on the world economy, [...]

To raise funds through an IPO, Integrated Facilities Management Updater Services Ltd has received SEBI approval. Integrated facilities management Updater Services Ltd has received capital markets regulator Sebi's approval to raise funds through an Initial Public Offering (IPO). The IPO will comprise both a fresh issue of equity shares aggregating up to Rs 400 crore [...]

According to its MD Ishver Dholakiya, Gujarat-based Goldi Solar and Desert Technologies of Saudi Arabia have signed a contract to look into investment opportunities in the green energy sector. According to the Memorandum of Understanding (MoU), Goldi Solar said in a statement that it will provide technologies to develop green projects. "As part of the [...]

In order to reduce air pollution, Union Minister Gadkari stated on Tuesday that he will seek a "pollution tax" in the form of an additional 10% GST on diesel cars and generators.  Speaking at the 63rd Annual SIAM convention here, the Union Road Transport and Highways Minister said the rising level of pollution is a [...]

In order to collect money through an Initial Public Offering (IPO), the government-run Indian Renewable Energy Development Agency (IREDA) has submitted draft papers with Sebi. The state-owned company is planning to go public for the third time following two unsuccessful bids in 2017 and 2019 against the backdrop of unfavourable market conditions. According to the [...]

The RBI has approved the reappointment of Sandeep Bakhshi as Managing Director and CEO of the private lender for three years. Private sector ICICI Bank on Monday said. The reappointment of Bakhshi will be effective from October 4, 2023, till October 3, 2026, ICICI Bank said in a regulatory filing. The bank's shareholders have already [...]

In order to produce reinforced products, Tata Steel on Monday opened a completely automated construction service centre in Uttar Pradesh. The centre in Ghaziabad, which is the company's second such unit after Cuttack in Odisha, will also provide solutions to the construction industry, Ashish Anupam, Chairperson, Marketing & Sales, Long Products, Tata Steel, said while [...]

NTPC Green Energy Limited (NGEL) has entered into a pact with Nayara Energy to explore opportunities in the green hydrogen space. NTPC said in a statement, on Monday the memorandum of understanding (MoU) was signed between NGEL CEO Mohit Bhargava and Nayara Energy Head-Technical Amar Kumar, in the presence of other senior officials of both [...]

The company said on Tuesday that NTC Group, engaged in logistics and supply chain management, has forayed into the Indonesian market further strengthening its presence overseas. Besides having a presence as an integrated logistics solution provider, in Singapore, Malaysia, Hong Kong, Belgium, and Saudi Arabia. NTC Group has launched operations in Jakarta. With the presence [...]

On Friday for public subscription, the initial share sale of travel service provider Yatra Online Ltd will open. According to the Red Herring Prospectus filed on Friday, the three-day Initial Public Offering (IPO) will conclude on September 20 and the bidding for anchor investors will open on September 14 and for retail on September 15. [...]

Reliance Industries Ltd said on Monday that, Reliance Retail Ventures Ltd. will get an investment of Rs 2,069.50 crore from the international investment firm KKR in exchange for an additional 0.25 per cent share in the retailer, which is valued at roughly Rs 8.36 lakh crore. By making this investment, KKR would boost its ownership [...]

On Monday, strong buying by domestic investors helped equity markets extend the winning streak to a seventh straight session. The benchmark Sensex increased by 528 points to reclaim the 67,000 level, while Nifty scaled the record 20,000 level for the first time. The positive momentum in stocks was also aided by the success of the [...]

ITI Limited, a public sector telecommunications company, announced on Monday that it had created its own branded laptop and micro PC and introduced them to the market. The central PSU with headquarters in Bengaluru and that falls under the Ministry of Communication claimed that the products now bear the "SMAASH" brand. Shares of ITI hit [...]