Metropolis Healthcare buys Hitech Diagnostic for Rs 511 cr

Mumbai-based diagnostic services provider Metropolis Healthcare today announced that it has agreed to buy Chennai-based Hitech Diagnostic Center for a cash consideration of Rs 511 cr. Hitech promoters will invest in Metropolis as part of the deal. Metropolis did not specify the price at which it would allot the 4.95 lakh shares that it will […]

Hero MotoCorp reshuffles distribution in Nicaragua, Honduras

Hero MotoCorp, the world’s largest two-wheeler manufacturer, announced new expansion plans for the Central American markets of Nicaragua and Honduras after appointing new distributors there. It said it has ‘aggressive expansion plans’ for the two countries, and plans to launch its range of premium motorcycles in both countries and expand its network in these markets. […]

Tata Power gets Rs 488 cr solar plant order from Kerala SEB

Tata Power said it has won a Rs 488 cr order from Kerala State Electricity Board Ltd to put up a 110 megawatt solar power project in the southern Indian state. The power plant, which has the capacity to produce 110 million watts of electricity, is expected to generate about 274 million units of power […]

Auto sales limp back to normal in December 2020

Consumer-focused automakers, such as Maruti Suzuki and Hero MotoCorp, fared better than commercial vehicle makers, going by auto sales trends in December 2020. Maruti Suzuki, which accounts for around half the cars sold in India, was among the best performers, with a 20% jump in sales compared to December last year. The company sold 1.60 […]

Biocon, Lupin launch new drugs in USA

Bicon Ltd and Lupin Ltd, two India-based pharmaceutical manufacturers, launched two drugs in the US, separately. Bangalore-based Biocon launched an immunosuppressant, while Lupin launched a pain relief drug. Biocon’s drug is called Tacrolimus, and it is a calcineurin inhibitor. The company said the drug is used in organ transplant patients to reduce the body’s ability […]

Tata Motors to increase CV prices from January

Following automakers like Honda, Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki, Kia Motors, MG Motor and Renaut, Tata Motors too has announced a decision to increase vehicle prices from next month. However, unlike most others, Tata Motors will increase prices for commercial vehicles only, while leaving passenger vehicles alone for now. Around half of the […]

L&T Tech wins Rs 750 cr order from US oil & gas giant

L&T Technology Services, a provider of consulting and outsourced services in the engineering field, said it won a $100 million (Rs 750 cr) contract from a major US oil and gas company. L&T Tech will be the US company’s primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in USA, […]

Indoco Remedies wins big order from Germany for uric acid tablets

Pharmaceuticals manufacturer Indoco Remedies has won a major contract to supply Allopurinol, used to bring down uric acid in the blood, from Germany. The two-year contract will generate around Rs 70 cr per year for the company. “This is Indoco’s first own label product in Europe,” said Managing Director Aditi Kare Panandikar. “Germany is totally […]

Hindalco to build 3rd aluminium extrusions plant at Silvassa

Hindalco Industries Limited, the Aditya Birla Group metals flagship, said it intends to set up a 34,000-tonne aluminium extrusion plant at Silvassa, the capital of Dadra & Nagar Haveli, at a cost of Rs 730 cr. The new plant will service the fast-growing market for extruded aluminium products in the western and southern regions, particularly […]

Zydus’ cytokine inhibitor moves into clinical trial

Pharmaceutical manufacturer Zydus Cadila said it received permission to initiate clinical trials for ZYIL1, an oral small molecule NLRP3 inhibitor, as an anti-inflammatory agent. The molecule is being explored for treating a variety of inflammation-related conditions, including Acute Respiratory Distress Syndrome (ARDS), auto-immune diseases, inflammatory diseases, cardiovascular diseases, metabolic disorders, gastro-intestinal diseases (inflammatory bowel disease), […]

L&T says good response to Seawoods Residences Ph II

Larsen & Toubro, India’s biggest construction firm, said it has got an encouraging response to the launch of its second phase of its Seawoods Residences project in Navi Mumbai. The first phase of the semi-premium housing project, launched early last year, saw decent levels of interest, with reports claiming that the company got 1,800 bookings […]

NOVEMBER AUTO SALES: M&M sees uptick, tractor sales zoom

Mahindra & Mahindra reported its strongest growth yet in the COVID-19 era after sales in November surpassed expectations, with strong numbers coming in from the tractor department. The company reported a whopping 55% jump in tractor sales for November, compared to just 2% in October. Similarly, sales of utility vehicles such as XUV500 jumped 27% […]

Laurus Labs buys Bangalore-based biotech firm Richcore for Rs 247 cr

Indian drugmaker Laurus Labs said it signed a definitive agreement to acquire a majority stake in a Bangalore-based, fast-growing biotech company, Richcore Lifesciences, for Rs 246.67 cr. Richcore has advanced R&D and manufacturing facilities to develop and manufacture biotech products critical for manufacturing biological drugs. Richcore also helps its global customers to develop and scale-up […]