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Urban Company's valuation rises to $2.8 billion in 4th ESOP sale programme

Home services marketplace Urban Company’s valuation has jumped 33 per cent in the past six months to $2.8 billion, thanks to its recently concluded fourth and largest employee stock ownership plan (ESOP) sale programme of $7.3 million (Rs 55 crore). The ESOPs sold in this transaction have largely been purchased by existing institutional investors of the company. The company’s valuation was $2.1 billion for the Series F round in June.

Realme overtakes Samsung, grabs second spot in smartphone market

Mobile device maker Realme has overtaken South Korean giant Samsung to grab the second spot in the branded smartphone market, with 18 per cent volume share in October this year, revealed Counterpoint Research. Its rival Samsung ended October with 16 per cent share. Xiaomi (including its brand POCO) was at 20 per cent; Vivo at 13 per cent.

Lupin recalls 4,113 cartons of oral contraceptive medicine in US market

Homegrown drug maker Lupin is recalling 4,113 cartons of generic oral contraceptive tablets in the US, the world's largest market for medicines, due to manufacturing issues. As per the latest enforcement report issued by the US Food and Drug Administration (USFDA), Lupin's US-based unit is recalling 4,113 cartons of Tydemy (drospirenone, ethinyl estradiol & levomefolate calcium tablets, 3 mg/0.03 mg/0.451 mg and levomefolate calcium tablets, 0.451 mg).

Volkswagen expects to double pre-owned car sales to 20,000 units this year

German premier carmaker Volkswagen is expected to double its pre-owned car sales this year to 20,000 units, amid a shift in customer preference towards the used vehicles, according to a top company executive. Volkswagen entered the used car market in 2012 with the launch of its first Das Welt auto showroom.

Vedanta to pay Rs 5,019 crore in dividends after solid earnings

Billionaire Anil Agarwal’s Vedanta Ltd. will reward shareholders with a dividend payout for the second time this year after reporting back-to-back bumper profits in the past year. Vedanta approved an interim dividend of Rs 13.50 a share, totaling Rs 5,019 crore, according to an exchange filing Saturday. The move comes after its cash-rich unit Hindustan Zinc Ltd. announced a payout of $1 billion earlier this week. The record date for the purpose of payment of dividend is December 18, 2021.

Zydus Cadila gets USFDA approval to market generic schizophrenia drug

Drug firm Zydus Cadila on Friday said it has received approval from the US health regulator to market generic drug Cariprazine capsules, which are used in the treatment of schizophrenia. The company's subsidiary has received tentative approval from the US Food and Drug Administration (USFDA) for Cariprazine capsules in the strengths of 1.5 mg, 3 mg and 4.5 mg, and 6 mg, the drug firm said in a statement.

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