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BUSINESS

USFDA completes audit of Dr. Reddy’s Andhra Pradesh facility

The US Food and Drug Administration (USFDA) has completed the audit of Dr. Reddy’s Laboratories’ Formulations Srikakulum Plant (SEZ) Unit II, Andhra Pradesh on November 16, 2018 with zero observations. Dr. Reddy’s Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide ... Read More »

Siemens reports 55% fall in Q4 net profit

Siemens has reported results for fourth quarter ended September 30, 2018. The company has reported 55.24% fall in its net profit at Rs 279.20 crore for the quarter under review as compared to Rs 623.80 crore for the same quarter in the previous year. However, total income of the company ... Read More »

GVK Power gets approval to raise Rs 8,000 crore

GVK Power & Infrastructure (GVKPIL) has received approval from its shareholders to raise funds upto Rs 8,000 crore by disposal, sale, lease, hypothecation, mortgage, charge or otherwise of all or any of the immovable and movable properties of the company. The shareholders of the company at its annual general meeting ... Read More »

M&M to hike price of Marazzo by up to Rs 40,000

Mahindra & Mahindra (M&M) is planning to increase price of its newly launched multi-purpose vehicle (MPV) Marazzo by Rs 30,000 to Rs 40,000 from January 01, 2019. The Marazzo was launched in September with introductory prices starting at Rs 9.99 lakh and going up to Rs 13.90 lakh, depending on ... Read More »

Northern Multi Manager acquires 16.94 lakh shares of Mindtree

Northern Multi Manager Emerging Markets Equity Fund has bought 16.94 lakh equity shares of Mindtree for Rs 840.01 per share on the BSE on November 16, 2018. However, Copthall Mauritius Investment has offloaded 16.94 lakh equity shares for Rs 840.00 per share on the same day. Mindtree delivers digital transformation ... Read More »

PIL Italtca Lifestyle launches new chair

PIL Italtca Lifestyle has launched new chair under the name ‘SPINE CARE 2109’. This chair is designed by the company with back support and is the right kind of chair which helps people with spinal disorders. The ‘SPINE CARE 2109’ is Modern Designed chair which guarantees a comfortable seat along ... Read More »

Vikas Ecotech’s Promoter sells stake in the company

Vikas Ecotech’s Promoter and Managing Director Vikas Garg, has sold 1,13,79,144 equity shares at a price of Rs 14.01 amounting to Rs 15.94 crore on November 16, 2018 to raise funds for an upcoming inorganic growth opportunity. The funds raised by the promoter will be utilised in the company via ... Read More »

PVR opens 4-screen multiplex in Gujarat

PVR has opened 4 screens multiplex at Maruti Solaris Mall in Anand in the state of Gujarat on November 18, 2018. This multiplex is equipped with 2K BARCO projection system, next-generation 3D-enabled screens and 7.1 Digital Dolby surround sound in all auditoriums. With this launch, PVR now operates the largest ... Read More »

ONGC frames strategy to increase oil and gas output

Oil and Natural Gas Corporation (ONGC) is eyeing at production enhancement contracts (PECs) and enhanced oil recovery techniques to boost oil and gas output from old and matured fields. The company plans to bring in service providers with advanced technology in operation of its oil and gas fields by offering ... Read More »

Infosys starts construction on US Education Center in Indianapolis

Infosys has started construction on its US Education Center in Indianapolis. This state-of-the-art training campus and residential center for its employees and the employees of select clients will prepare the American workforce for the technology jobs of the future, and also begin to revitalize a 70.5 acre site on the ... Read More »

M&M opens second off-road training academy in Mangaluru

Mahindra & Mahindra (M&M) has opened its second off-road training academy in Mangaluru. Spread over 150 acres, the academy offers state-of-the-art facilities and equipment that includes wireless equipped Mahindra Thar 4×4 CRDe training vehicles. The academy would run two courses: basic-level which is ‘Getting Dirty’ and the intermediate-level which is ... Read More »

Shah Alloys turns black in Q2FY19

Shah Alloys has reported results for second quarter ended September 30, 2018. The company has reported net profit of Rs 20.10 crore for the quarter under review against net loss Rs 3.59 crore for the same quarter in the previous year. Total income of the company increased by 28.30% at ... Read More »

EPC Industries incorporates subsidiary company

EPC Industries has incorporated a new subsidiary company namely Mahindra Top Greenhouse (MTGPL) with effect from November 16, 2018. MIGPL will provide solutions to Protected Cultivation Technology Products in Agriculture. It will also strengthen the company’s position in Agri technology. The company has agreed to subscribe 18,00,000 Equity shares of ... Read More »

Infosys completes formation of JV with Temasek

Infosys has completed the formation of a joint venture (JV) with Temasek, the global investment company headquartered in Singapore. Through this joint venture, the company will be a partner to Temasek in its digital transformation journey and further strengthen its footprint in South East Asia. The joint venture will provide ... Read More »