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 [...]
Finance minister Nirmala Sitharaman on Monday moved an amendment to the Finance Bill in Rajya Sabha to correct the figures with regard to rate of Security Transaction Tax (STT) to be levied on sale of options as well as futures. The amended Finance Bill 2023 by correcting STT rate has been returned to Lok Sabha, [...]
Russian flag carrier Aeroflot has increased the frequency of its flight services on the Delhi-Moscow route to seven times a week against four weekly services earlier, from March 26, a statement said on Monday. In addition, the airline has also started operating a Boeing 777 jet along with Airbus A330 to cater to passenger traffic [...]
Cyber criminals are exploiting popularity of ChatGPT to spread malware through hijacked Facebook accounts, cyber intelligence firm CloudSEK said on Monday. CloudSEK in its investigation has found the presence of 13 Facebook pages or accounts including those with Indian content, totalling over 5 lakh followers, that have been compromised and are being used to disseminate [...]
Bharat Electronics Ltd (BEL), a Navratna PSU company informed the exchanges that it has won orders worth ₹ 4,300 crores from the Indian Army and the Indian Navy. The Ministry of Defence has signed a contract worth ₹ 3000 crores with BEL for the supply of integrated electronic warfare systems for the Indian Army. These [...]
Sun Pharmaceuticals Industries Ltd, in a recent filing with the exchange on Friday, announced that it has entered into an agreement to acquire 60% shareholding in ‘Vivaldis Health And Foods Private Limited’ from its existing shareholders for ₹143.30 crores. The remaining 40% shareholding is to be acquired in the future as per certain terms & [...]
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. [...]
Immediate action by the government to help Indian startups in the aftermath of Silicon Valley Bank (SVB) collapse ensured they were not adversely impacted by the "minor crisis", Union Minister Ashwini Vaishnaw said on Monday. He also exhorted the entire startup community to think of the Indian banking sector as their trusted partner. Vaishnaw, Minister [...]
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 [...]
The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its two-day meeting beginning Monday. EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent [...]
Shares of Phoenix Mills jumped 5.71% on Monday’s early trades to reach an intraday high of ₹ 1355.00 apiece on the National Stock Exchange, after Morgan Stanley initiated coverage on the stock with an overweight rating. Last week, Motilal Oswal Financial Services had also initiated coverage on the stock. At 12:27 PM, the stock was [...]
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 [...]
The Board of Emami Ltd, on Friday, approved the proposal of Buyback of fully paid-up equity shares having a face value of Rs 1 at a price not exceeding Rs 450 per equity share which is a 26 percent premium to the current price levels. The aggregate amount of the buyback is capped at Rs [...]
Telecom minister Ashwini Vaishnaw on Monday said the country's first quantum computing-based telecom network link is now operational in the national capital. While speaking at the first international quantum enclave, Vaishnaw said that the quantum communication link is now operational between Sanchar Bhawan and National Informatics Centre office located in CGO Complex in the national [...]
S&P Global Ratings on Monday kept its forecast for India's economic growth unchanged at 6 per cent in the fiscal year starting April 1, before rising to 6.9 per cent in the following year. In the quarterly economic update for Asia-Pacific, S&P saw inflation rate easing to 5 per cent in 2023-24 fiscal, from 6.8 [...]
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 [...]
Domestic benchmark indices have lost nearly 0.5% in the past five days and 2.80% in the past month amid the global financial crisis that dampened investor sentiment. The BSE Sensex was trading at 57, 656.71 points, up 0.23% as of 11:35 AM on Monday and the NSE Nifty 50 was at 16986.55 points up 0.24%. [...]
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 [...]
Electric vehicles (EV) financing digital platform RevFin Services is targeting to finance 20 lakh vehicles in the next five years, with an aim to grow three to four times every year, according to its CEO & Founder Sameer Aggarwal. With the Indian electric vehicle industry poised for an accelerated growth, he said the company is [...]
The Union Cabinet is likely to soon consider imposing caps or a ceiling on price for majority of natural gas produced in the country to keep input costs for users ranging from CNG to fertilizer companies in check, sources said. The government bi-annually fixes prices of locally produced natural gas -- which is converted into [...]
