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Bajaj Healthcare forays into highly-regulated opiate processing business

Bajaj Healthcare on Wednesday said it has forayed into the highly regulated opiate processing business. The company said it has received two orders from the central government to produce active pharmaceutical ingredients (API) from poppy capsules and other derivatives on an annual basis. It plans to execute both these tenders from its API manufacturing unit located at Savli, Gujarat.

Chinese mobile maker Oppo India evaded customs duty worth Rs 4,389 cr: DRI

The Directorate of Revenue Intelligence (DRI) has slapped a Rs 4,389 crore show cause notice on Oppo India on July 8 for allegedly evading customs duty by wrongfully availing exemption benefits. Oppo India, the Indian subsidiary of a Chinese firm, deals in various brands of mobile phones, including Oppo, OnePlus and Realme.

LIC’s IPO anchor investors haven't given up on insurer despite heavy losses

In the run-up to LIC IPO, the insurer raised Rs 5,627 crore from anchor investors by allotting them 59.3 million shares Life after listing for the country’s largest life insurance company, Life Insurance Corporation of India, has been painful, full of doubts and of little hope. Shares of the insurance giant have seen their value shrink 24 percent since their listing on May 17. While the stock has seen some recovery of late, at one point, it was quoting at a discount of 31.5 percent to its issue price of Rs 949.

IndusInd Bank says ED investigating some entities, a few employees for financial irregularity

Private sector lender, IndusInd Bank on July 13 said, the Enforcement Directorate has lodged an investigation against certain entities and some bank employees in connection with financial irregularities. A First Information Report (FIR) was filed on July 9, 2022, with Chennai Police against some of those entities and a few employees of the bank, the lender said in an exchange note. There is no credit exposure of the bank to these entities, the lender said.

NTPC launches Girl Empowerment Mission in Assam, to train 40 minors

The country's largest power producer NTPC on Wednesday said it has rolled out a four-week long empowerment programme for underprivileged girls in Assam to train 40 minors in different skills. The programme -- Girl Empowerment Mission (GEM) -- is being conducted by the power major across the country since 2018 and was launched in Assam for the first time.

Nissan launches Magnite RED Edition tagged at Rs 7.86 lakh

Nissan Motor India on Wednesday said it has launched the Magnite RED Edition, with prices starting at Rs 7.86 lakh (ex-showroom, Delhi). The new edition is based on the car's XV variant and comes with various features like 8-inch touchscreen with Wifi connectivity, LED daytime running lamps and diamond cut alloy wheels.

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