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Page 115 - Business Finance

Aurobindo Pharma slides after Hyderabad unit receives USFDA observations

Aurobindo Pharma declined 4.92% to Rs 621.90 at 15:29 IST on BSE after the company said it has received 10 observations from the US health regulator for its Unit 3 in Hyderabad.

Updated On : 06 Jun 2019 | 3:50 PM IST

GAIL (India) tumbles on reports of disappointing tariff revision by PNGRB

GAIL (India) fell by 11.97% to 315.60 at 15:18 IST on the BSE on reports of disappointing tariff revision by PNGRB for key pipelines managed by the company.

Updated On : 06 Jun 2019 | 3:50 PM IST

Toyota launches Glanza in India; price starts at Rs 7.22 lakh

Japanese auto major Toyota Thursday launched in India premium hatchback Glanza, its version of Suzuki's Baleno, which it is sourcing from its compatriot as part of their collaboration. The Glanza has been priced in the range of Rs 7.22 lakh to Rs 8.9 lakh. Toyota, which is present in India through a joint venture with the Kirloskar group, is offering the Glanza only in two variants in BS-VI compliant 1.2 litre petrol engine with automatic transmission options. Maruti Suzuki currently sells its Baleno in both petrol and diesel engine options with four different variants with automatic transmission options priced between Rs 5.46 lakh to Rs 8.9 lakh. Commenting on the launch, Toyota Kirloskar Motor (TKM) Managing Director Masakazu Yoshimura said that "in a dynamic market like India, it will be our constant endeavour to offer a range of options to our customers whose choices are governed by their mobility needs and expectations from brand". TKM is offering warranty of 3 years/1 lakh ...

Updated On : 06 Jun 2019 | 3:45 PM IST

L&T buys more shares of Mindtree; raises stake to 28.90 pc

Infrastructure major Larsen and Toubro on Thursday acquired 25,000 equity shares of Mindtree Ltd, taking its total holding in the mid-tier IT firm to 28.90 per cent, as per a regulatory filing. The development assumes significance as L&T has been steadily increasing its holding in the Bengaluru-based tech firm where it acquired around 20 per cent stake of V G Siddhartha and Cafe Coffee Day, recently. L&T, which has been pursuing a hostile takeover of Mindtree, has expressed its intent to ramp-up its shareholding up to 66 per cent. "This is to inform you that Larsen and Toubro Ltd has acquired 25,000 equity shares (with face value of Rs 10 each) of Mindtree Ltd on June 6, 2019," L&T said in a regulatory filing. The shares were purchased at Rs 971.03 a piece from the open market. A rough calculation showed that the company spent close to Rs 2.43 crore for these transaction. Following the transaction, the L&T's holding increased to 28.90 per cent (or 4.74 crore shares) ...

Updated On : 06 Jun 2019 | 3:35 PM IST

Piyush Goyal asks industry leaders to become globally competitive

The Indian industry must strive to become globally competitive at a time when several countries are placing trade barriers to protect their markets, Minister of Commerce and Industry Piyush Goyal said on Thursday.He also urged state governments, export promotion councils and industry bodies to make all efforts to engage with the world from a position of strength."India and the world are now going through challenging times due to trade barriers and falling economic growth. Therefore there is a greater need for focused efforts to maintain our position and grow in world trade," said Goyal while addressing a joint meeting of the Board of Trade (BoT) and the Council of Trade Development and Promotion (CTDP).He urged the representatives of industry and exports bodies to stop depending on subsidies and grants from the Central government and strive to make the industry more competitive and self-reliant.When production takes place on a large scale, domestic manufacturing and businesses grow. ..

Updated On : 06 Jun 2019 | 3:35 PM IST

NIIT Technologies recognised as Leader of Midsize Agile Software Development Service Providers

By Forrester Research

Updated On : 06 Jun 2019 | 3:31 PM IST

Board of Uday Jewellery Industries approves allotment of 25.78 lakh equity shares on conversion of warrants

At meeting held on 06 June 2019

Updated On : 06 Jun 2019 | 3:31 PM IST

Mayawati attacks Modi over unemployment data

Bahujan Samaj Party (BSP) President Mayawati on Thursday mounted a scathing attack on the Narendra Modi government over the unemployment rate which has risen to a 45-year-high at 6.1 per cent.

Updated On : 06 Jun 2019 | 3:25 PM IST

CCI imposes over Rs 74 cr penalty on pharma companies, trade bodies

The Competition Commission of India (CCI) has imposed penalties of over Rs 74 crore on two pharmaceutical companies-- Himalaya Drug Company and Intas Pharmaceuticals -- as well as two Madhya Pradesh-based drug associations for indulging in anti-competitive trade practices, an official release said on Thursday.The CCI found activities of Madhya Pradesh Chemists and Druggist Association (MPCDA) and Indore Chemists Association (ICA) to be in contravention of the provisions of the Competition Act, 2002.As per the CCI order on June 3, a penalty of Rs 55.59 crore was levied on Intas Pharmaceuticals while Himalaya Drug was fined Rs 18.59 crore. Penalties were also imposed on certain officials of these firms.Besides, MPCDA was fined Rs 4.18 lakh and ICA Rs 39,812.In addition, the CCI gave 'cease and desist' directions issued under Section 27 of the Act.According to a statement, the CCI directed MPCDA to organise at least five competition awareness and compliance programmes over a period of ...

Updated On : 06 Jun 2019 | 3:25 PM IST

Rising growth concerns prompted third rate cut: Das

The third successive rate cut of 0.25 percent is a "decisive and timely" move to address the rising growth concerns, and a rate hike is off the table for now with the shift to an "accommodative" stance, Reserve Bank governor Shaktikanta Das said Thursday. The governor also said liquidity--where a deficit had been bothering the financial system for nearly a year -- is in surplus now, and he vowed to ensure there is enough liquidity for every productive purpose. Assuming more headwinds to growth, the Reserve Bank also narrowed down its GDP forecast for the current fiscal to 7 percent from 7.2 percent. It can be noted that that FY19 ended with a lower than estimated 6.8 percent, as the fourth quarter GDP printed a five-year low of 5.8 percent. "The unanimous vote reflects the resolve of the monetary policy committee to act decisively and act in time (to address the growth concerns)," Das told reporters after the announcement of the policy review. As expected the MPC ...

Updated On : 06 Jun 2019 | 3:20 PM IST