PVR increases ticket prices by Rs 100 in Telangana after govt order

PVR, India’s largest cinema exhibitor, said it has increased its ticket prices in Telangana, a week after the state government increased cinema ticket price bands. Unlike other states, Telangana government controls the price of cinema tickets, given the high importance attached to movies by people in the state. The Telugu film industry is the second […]

Sun Pharma to bring molnupiravir COVID-19 pill to India in 1 week

Sun Pharmaceutical Industries said it has received Emergency Use Authorization or EUA from India’s Drugs Controller General of India (DCGI) to manufacture and market a generic molnupiravir in India, a week after the US-FDA gave an EUA to its use in the US. The company has promised to make the oral drug, under the brand […]

TCS, Airtel take a step towards human-less factories

Tata Consultancy Services and Bharti Airtel said they tested a 5G-enabled and automated manufacturing set-up using the trial 5G spectrum allocated by Department of Telecom. Called ‘Neural Manufacturing Suite’, the technology aims to implement a ‘lights out’ factory set-up, in which the factory produces everything by itself without human or worker supervision or intervention. This […]

Promoters to sell stock to supply working capital to Marshall Machines

Industrial automation player Marshall Machines said its promoters will sell around 3.4% of the company to raise capital to meet the company’s working capital needs. The promoters currently hold around 73.4% of the total outstanding shares, which will come down to 70% by the end of the exercise. A 3.4% stake in the company is […]

Dish TV promoters file one more case to stop YES Bank from voting at AGM

With the annual general meeting of Dish TV only five days away, the promoters of the direct-to-home satellite service have filed yet another case in Bombay High Court, hoping to stop YES Bank from exercising voting rights on its stake of over 24%. This is the fourth major legal challenge put in front of YES […]

Zee-Sony likely to keep both brands, aggressively bid for sports

Zee Entertainment Enterprises and Sony Pictures Networks India are likely to keep both flagship brands of the two companies going after their merger, while investing heavily into sports and digital businesses, according to comments made by Zee management after announcing the deal. “Both the brands are strong brands, and with loyalty attached to themselves. So […]

HSBC buys India’s L&T Mutual Fund for $425 mn

HSBC, the global financial services giant headquartered in London, has agreed to buy L&T Mutual Fund, the asset management business of L&T Finance — the non-bank financial services arm of the Larsen & Toubro group of India. L&T Finance will get $425 mln, or around Rs 3,200 cr, for the mutual fund unit which has […]

Zydus Cadila gets USFDA nod for Acadia’s Parkinson’s drug

Zydus Cadila said it received tentative approval from the USFDA to market Pimavanserin tablets — a generic form of Acadia Pharmaceuticals’ Nuplazid — in the US. Tentative approval refers to approval given ahead of patent expiry. The company will be able to start selling the drug only when the patent protection expires. The compound, as […]

Strides Pharma starts making Sputnik COVID vaccine in India

Strides Pharma Science Ltd said its mega vaccine plant in Bangalore is ready and has started commercially producing Russian COVID vaccine Sputnik Light. “As previously committed, the company is on track to commercialize this vaccine for Global markets in Q4FY22,” it added. Strides Pharma unit Stelis was the third pharma manufacturer in India to sign […]

Don’t Buy the Dip – warn experts on stock market sell-off

With the Indian stock markets, along with indices like the Nifty and Sensex, seeing ferocious correction today, the general advice from market experts to retail investors have been to ‘cherry pick’ stocks and rebuild one’s portfolio at these lowered valuations. However, there are also those who go against this ‘mainstream narrative’ and urge a heightened […]

Vakrangee adds stock trading, demat account service in tie-up with Upstox

Vakrangee Ltd, which runs over 13,200 digital kiosks across the country, said its franchisees will now be able to offer share trading and demat account opening services thanks to a tie-up with stock trading app Upstox. Vakrangee Kendras already offer a variety of internet-enabled services, such as bank account opening, issue of government certificates, money […]

Bharti Airtel taps market debt to retire DoT dues

With interest rates at multi-year lows, Bharti Airtel has used money raised from the market to prepay liabilities associated with its spectrum purchases during the auction of 2014. Under India’s spectrum auction rules, winners can opt to pay the majority of their obligations in the form of instalments over a period 10 years or more, […]

Tejas Mark 1A production to start in 2023, BEL gets 2.4k cr order

Plans to bring out a more improved version of India’s indigenous fighter aircraft, Tejas, have moved a step closer to fruition with the award of a Rs 2,400 cr contract by Hindustan Aeronautics Limited (HAL) to Bharat Electronics Ltd (BEL). The contract has been awarded for the supply of 20 types of airborne electronic systems […]

Advanced Enzyme Tech appoints distributor for South East Asia

Advanced Enzyme Technologies Ltd, India’s largest food supplement enzyme manufacturer, said it has appointed an exclusive distributor for Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam. The distribution agreement with Singapore-based Azelis covers all food enzymes and probiotics for the food & dietary supplement industry. Azelis sells chemical and food ingredients in over 50 countries across […]

Infosys buys Singtel’s Malaysia delivery center

Infosys Ltd, one of India’s top IT services providers, said it has agreed to acquire Singapore Telecom’s Malaysia delivery center for up to SGD 6 million or around Rs 33.3 cr. Global Enterprise International Malaysia “acts as a delivery center to provide customer experience and technology services to Singtel,” the Bangalore-based company said. The company […]