Glenmark Pharma bags approval for Triamcinolone Ointment

Leading pharma major, Glenmark Pharmaceuticals has said that it has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Triamcinolone Acetonide Ointment USP, 0.1%, the generic version of Kenalog® Ointment, 0.1%, of Mylan Pharmaceuticals Inc.

According to IMS Health sales data for the 12 month period ending June 2017, the Kenalog® Oint

Magma Fincorp partners PCRA to train 1 lakh truck drivers

Magma Fincorp Ltd., a premier Mumbai based NBFC has said that it has partnered Petroleum Conservation Research Association (PCRA) to successfully complete the first phase Highway Heroes, a CSR programme where they have trained 1 lakh truck drivers.

“The movement was initiated in 2015 to achieve three unique feats — Reducing environment pollution, increasing fuel efficiency

Infosys Murthy to interact with investors on Wednesday

A defiant Infosys Founder N.R. Narayana Murthy will interact with investors on Wednesday through a conference call to tell his version of the software major's boardroom battles that led to the exit of its technocrat Vishal Sikka as CEO on last Friday.

"Murthy will address and interact with the company's investors across the world on Wednesday evening at 6:30 p.m. through

Global cues, buying support lift equity markets

Positive global cues pushed the key Indian equity indices -- the NSE Nifty 50 and the BSE Sensex -- higher during mid-afternoon trade session on Wednesday.

According to market observers, healthy buying in pharma, banking and IT sector stocks supported equity indices' upward trajectory.

The BSE Sensex and NSE Nifty opened higher on Wednesday against their respective previ

Cairn Energy seeks additional $249 mn compensation from India

British oil major Cairn Energy has added another $249 million to the compensation it is claiming from India after the authorities here set off a tax refund due to it to settle part of a retrospective tax demand, the company said on Tuesday

"A tax refund in respect of financial year 2011-12 in the amount of Rs 1,590 crore ($249 million) which became due to Cairn as a consequence o

July rubber imports drop 14 pct as output surges: Board

MUMBAI - India's natural rubber imports in July fell 13.8 percent from a year ago to 35,560 tonnes as domestic output jumped due to favourable weather, the state-run Rubber Board said in a statement on Tuesday.

The country's production rose 11.5 percent in the month to 58,000 tonnes, while consumption nudged up 0.7 percent to 89,000 tonnes, the Board said.

GAIL in 3 time-swap deal for US LNG

State-owned utility GAIL India has signed three time-swap deals to sell some of its US liquefied natural gas (LNG) as it rejigs the supply portfolio in line with domestic demand, reported PTI. Under the deals, the company will buy LNG from international companies this year and sell equivalent amount of Henry Hub-indexed volumes during 2018-19, GAIL said in its Annual Report.

It is als

Balaji Telefilms board approves selling 25% stake to RIL

Balaji Telefilms said its board has approved allotment of 2.52 crore equity shares to Mukesh Ambani led Reliance Industries for a total consideration of Rs 413.28 crore, reported PTI. Reliance Industries Ltd (RIL) board last month approved to pick around 24.9 per cent stake in Balaji Telefilms by acquiring 2.52 crore shares for around Rs 413 crore.

The board has approved allotment of

HDFC Bank launches all-in-one DigiPoS machines

HDFC Bank, the largest merchant payment acquirer with over 40 per cent market share, launched an all-in-one offering, DigiPoS Machine, that offers a complete suite of digital payment solutions, reported PTI. "With DigiPoS, a merchant can use as many as 12 various digital payment options like UPI, Bharat QR, SMS Pay, PayZapp, Tap & Pay, EMIs in addition to pay through debit/ credit card

Infosys will 'stay the course', interim CEO assures staffers

Amid the uncertainty surrounding IT major Infosys following the sudden resignation of Vishal Sikka, Interim CEO and MD U B Pravin Rao has assured employees that the company will "stay the course", reported PTI. In an e-mail to staffers, Rao acknowledged that the road ahead will not always be easy, but asked them to stay focused.

"This won't always be easy in the day

YMA moved out of Chapter 11, says Lycos Internet

Lycos Internet, a global Internet brand, on Wednesday said that its wholly owned US subsidiary Ybrant Media Acquisition (YMA) has moved out of Chapter 11. “While the required funds were not yet available, LYCOS informed the court that significant progress was made towards completion of the financing.

United States Bankruptcy court of NY denied confirmation of the plan filed by t

Wipro partners First Book to donate books in Seattle area

Wipro Limited, a leading global information technology, consulting and business process services company has said that it has partnered First Book, a nonprofit social enterprise to donate four thousand new books to students in the Seattle area. The books will be distributed to registered First Book members in the Seattle area, providing additional education resources in the community where Wipr

Hindustan Copper focuses on Rs 5,000 cr expansion projects

Hindustan Copper Ltd (HCL) is focusing on Rs 5, 000 crore of expansion projects which will be executed over the next three to four years, a top company official said on Tuesday.

"We are focusing on expansions projects over the next 4-5 years and the investment would be around Rs 5,000 crore," company's Chairman K.D.Diwan told reporters here.

Of the total invest

India grants Pfizer patent on pneumonia vaccine in blow to aid group

By Zeba Siddiqui

MUMBAI  - India has granted Pfizer Inc a patent for its powerful pneumonia vaccine Prevenar 13, in a blow to some health groups that said this would put the treatment out of reach of thousands in poorer nations.

The decision by India's patent office bars other companies from making cheaper copies of the vaccine and allows Pfizer to

Shoppers Stop looks at 12% sales growth in 2017-18

India's leading modern retailer Shoppers Stop Ltd. is looking at 12 per cent sales growth in 2017-18 year and focusing on improving the profitability, a company official said on Tuesday.

"For the entire year, we are looking at 12 per cent overall sales growth and the profitability growth should be double of the sales growth for the year... growth of bottomline should be 25 pe

Bonds, FX markets muted as bank strike hits settlement

MUMBAI- India's bonds and exchange rate markets saw low volumes on Tuesday as a strike by most bank employees to protest bank consolidation and rise in bad loans was expected to hit settlement of trades, dealers said.

About 173 billion rupees ($2.70 billion) worth of bonds were traded as of 1112 GMT, compared with an average daily average of 400 billion rupees.

ONGC to hire investment banker for HPCL acquisition

Oil and Natural Gas Corp (ONGC) will hire investment bankers to assist it in acquiring government's 51.11 per cent stake in Hindustan Petroleum Corp Ltd (HPCL), reported PTI. The investment or merchant banker to be hired will be separate from the one the government is hiring to manage its disinvestment, a senior official said here.

The board of ONGC earlier gave 'in principle

Magma Fincorp, PCRA aim to train 1.5 lakh truckers in 3 years

Non-banking fiance company Magma Fincorp in collaboration with the Petroleum Conservation Research Association (PCRA) will train 1.5 lakh truck drivers in the next three years with an aim to cut down fuel consumption and curb the number of accidents on roads.

Magma Fincorp had started the programme called 'Highway Heroes' in 2015 with an aim to reduce pollution, to increase fu

Oriental Bank to raise Rs 500 cr via Tier 1 bonds

Public sector lender Oriental Bank of Commerce on Tuesday said the bank intends to raise Tier 1 capital amounting to Rs 500 crore through private placement of Basel III Compliant Additional Tier 1 Bonds.

“The bank intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of Rs 10,00,000 each at par aggregating to Rs 500 crore with a

Key Indian equity indices close marginally higher

Key Indian equity indices on Tuesday closed the day's trading marginally higher.

The 30-scrip Sensitive Index (Sensex), closed 33 points or 0.11 per cent higher.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) also closed trading 11.20 points or 0.11 per cent higher at 9,765.55 points.

The Sensex of the BSE, which opened at 31,393.93 points, close

Tata Power synchronises 186 MW hydro project in Georgia

Private utility Tata Power today said it has synchronised its 186 MW Shuakhevi hydro project in Georgia. "Tata Power, through Adjaristsqali Georgia LLC (AGL), its joint venture with Norway's Clean Energy Invest AS Norway (Clean Energy) and IFC InfraVentures (IFC), a member of the World Bank group have synchronised its 186 MW Shuakhevi Hydro Power Project (HPP) in Georgia," the com

Essar to pay $1.18/share to minority shareholders - statement

NEW DELHI  - Essar Group will pay 75.48 rupees ($1.18) apiece to the minority shareholders who tendered Essar Oil shares under a delisting offer ahead of the company's sale to a consortium led by Russian oil major Rosneft, the company said.

India's Essar Group on Monday closed the $12.9 billion deal to sell 98.26 percent stake in Essar Oil to a consortium

Ramco Systems bags order from top 5 Aircraft OEMs

After entering the Greater Chinese Aviation market with Far Eastern Air Transport in 2016 followed by Bedek - Lingyun (Belinco), and China Southern Airlines General Aviation , Ramco Systems on Tiesday said that it has secured an order from one of the Global Top 5 Aircraft OEMs (Original Equipment Manufacturers) for its joint venture in China.

“Ramco will help the China-based man

Ajay Vipin Nanavati nominated as Chairman of Syndicate Bank

Ajay Vipin Nanavati has been appointed as the chairman of Syndicate Bank. The Appointments Committee of the Cabinet has approved his appointment as Non-Official Director/Non-Executive Chairman in Syndicate Bank for three years, according to an order issued by the Department of Personnel and Training. In 2015, the government had bifurcated the posts of chairman and managing directors in public s

Chambal Fertilisers delivers ship to Sempreviva Shipping

Chambal Fertilisers & Chemicals said that it has delivered the ship ‘Ratna Shradha’ to Sempreviva shipping, Malta on August 21, 2017. “Pursuance of the Memorandum of Agreement dated May 20, 2017, the Company has delivered the ship - Ratna Shradha to the Buyer on August 21, 2017,” it said in a filing to the Bombay Stock Exchange. Meanwhile, shares of the company were