Page 55 - Company News

Crisil to acquire McKinsey PriceMetrix to expand wealth management insights

Crisil, an S&P Global Company, announced the acquisition of McKinsey PriceMetrix Co. (PriceMetrix), a leading provider of performance benchmarking and data-driven insights for the wealth management industry. PriceMetrix, based in Toronto, serves leading wealth management firms in the US and Canada. Its proprietary database covers USD 8 trillion in assets under management and 30 million investment accounts, backed by 25 years of data, rating agency Crisil said in a statement. The acquisition includes key products such as ValueOne, FeeCheck, CommissionCheck, SignalOne, advisory services, and comprehensive surveys of the North American wealth management sector, it said. This planned acquisition aligns with Crisil's strategy to scale in wealth management and extend sector benchmarking capabilities to large global banks, traditional wealth managers, and registered investment advisors (RIAs), it said. With this acquisition, Crisil strengthens its position as a leading provider of ...

Lupin gets tentative nod from USFDA for generic HIV treatment drug

Pharma major Lupin Ltd on Wednesday said it has received tentative approval from the US health regulator for its generic version of Bictegravir, Emtricitabine, and Tenofovir Alafenamide tablets used to treat human immunodeficiency virus (HIV) infection. The approval by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application for Bictegravir, Emtricitabine, and Tenofovir Alafenamide tablets of strength 50 mg/200 mg/25 mg, Lupin said in a regulatory filing. This product would be manufactured at Lupin's Nagpur facility, it added. Bictegravir, Emtricitabine, and Tenofovir Alafenamide tablets, 50 mg/200 mg/25 mg are bioequivalent to Biktarvy Tablets, 50 mg/200 mg/25 mg of Gilead Sciences, Inc., and indicated for the treatment of human immunodeficiency virus infection in adults and pediatric patients weighing at least 25 kg, it added. Citing IQVIA MAT July 2025 data, Lupin said the Bictegravir, Emtricitabine, and Tenofovir Alafenamide tablets (Biktarvy) had

Labour Ministry signs MoU with Zepto to accelerate job opportunities

The Labour & Employment Ministry on Wednesday inked an initial pact with quick commerce player Zepto for enhancing employment opportunities as well as youth employability on the National Career Service (NCS) portal, an official release said. The Memorandum of Understanding (MoU) was signed in the presence of Union Minister for Labour & Employment Mansukh Mandaviya here. Zepto will provide 10,000 job postings during the MoU duration, creating a predictable and structured pipeline of urban employment opportunities for youth, women, and first-time job seekers, according to the release. Over the past year, the Ministry of Labour & Employment has signed MoUs with several key organisations, including Amazon, Swiggy, Rapido and Quikr Jobs. These partnerships have already mobilised nearly five lakh vacancies on the NCS portal, strengthening employment opportunities for the youth. "The National Career Service (NCS) platform has emerged as a unique bridge between employers and ...

Dr Reddy's and Hetero to sell generic HIV prevention drug for $40 a year

The price tag, which will enable much broader access in low-and middle-income countries, compares with an estimated US price of around $28,000 a year for branded Yeztugo

Relux Electric and Tamil Nadu Green Energy to set up EV charging points

Relux Electric Pvt Ltd, an electric vehicle charging infrastructure provider, has joined hands with the Tamil Nadu Green Energy Corporation Ltd to set up about 500 EV charging stations across the State. As part of the association, the two entities would conduct a feasibility study to identify land across Tamil Nadu for establishing the charging stations. "This initiative aligns with the vision of Tamil Nadu to expand EV infrastructure, reduce carbon emissions and promote cleaner transportation," a press release from Relux Electric Pvt Ltd said on Wednesday. Currently, Tamil Nadu has around 1,300 EV charging stations and it is developing a digital map to help users locate nearby charging points. Relux Electric Pvt Ltd Managing Director Karthikeyan S said, "This collaboration between the State and Relux comes at the right time to accelerate EV adoption in TN." "It will be a significant step towards transforming Tamil Nadu into an electric mobility hub, and will open up opportunitie

Strive to buy Semler in $1.3 bn stock deal to boost bitcoin holdings

The deal comes less than five months after Strive announced a merger with Asset Entities as part of its plan to list on Nasdaq and pursue a strategy of buying and holding bitcoin

Alkem launches pertuzumab biosimilar for breast cancer in India

Alkem Laboratories on Monday said it has launched a biosimilar product in India for the treatment of breast cancer. The company has introduced Pertuza injection 420mg/14mL, a pertuzumab biosimilar, for the treatment of HER2-positive breast cancer, the drug firm said in a statement. Alkem's Pertuza is an affordable, indigenously-developed and manufactured biosimilar of pertuzumab, it added. "Oncology is a priority area for Alkem, and our efforts are focused on developing treatment options that combine scientific excellence with wider access. The launch of Pertuza reflects this commitment and further strengthens our oncology portfolio," Alkem CEO Vikas Gupta said. Shares of the company on Monday ended 0.69 per cent down at Rs 5,496 apiece on BSE.

ReNew Energy cuts solar module and cell prices as GST rates fall to 5%

ReNew Energy Global Plc (ReNew) has reduced rates of its solar modules and cells in line with lower GST slab taking effect from Monday. Earlier this month, the GST Council approved slashing GST rates on a number of items. The council recommended the duty on renewable energy products to be reduced to 5 per cent from 12 per cent to help the industry shift towards green power. In a statement, ReNew announced price reduction in its solar modules and cells, effective September 22. This development will translate into substantial savings for utility-scale developers, rooftop solar consumers, and farmers under flagship schemes like PM Surya Ghar Muft Bijli Yojana and PM-KUSUM, further democratizing access to clean energy. Sumant Sinha, Founder, Chairman and CEO of ReNew, said, "As India's largest integrated solar manufacturer, we believe this move will catalyze adoption across segments from large-scale developers to rooftop consumers and farmers." ReNew's clean energy portfolio of 18.2 G

Atlanta Electricals IPO subscribed 97% on the first day of bidding

The initial public offer of Atlanta Electricals Ltd, manufacturer of power, auto and inverter duty transformers, got subscribed 97 per cent on the first day of bidding on Monday. The received bids for 63,51,928 shares against 65,38,439 shares on offer, as per NSE data. The categories for Qualified Institutional Buyers (QIBs) and non-institutional investors got full subscription. Retail Individual Investors (RIIs) quota got subscribed 95 per cent. Atlanta Electricals Ltd on Friday said it has raised Rs 205 crore from anchor investors. The company's Rs 687-crore initial public offering (IPO) will conclude on September 24. The price band of Rs 718-754 per share values the company at roughly Rs 5,800 crore at the upper end. The Gujarat-based company's IPO is a combination of a fresh issue of equity shares worth Rs 400 crore and an offer for sale (OFS) of 38.1 lakh equity shares valued at Rs 287 crore at the upper end of the price band, by a promoter and other selling shareholders. Th

Setback for Vedanta as govt rejects extension of Cambay oil, gas block

In a setback for mining baron Anil Agarwal's group, the government has rejected Vedanta group firm's application for extension of contract for a key Cambay basin oil and gas block. Vedanta Cairn Oil and Gas, a unit of Mumbai-listed Vedanta Ltd, was the operator of the Gujarat offshore block CB-OS/2 with a 40 per cent stake. State-owned Oil and Natural Gas Corporation (ONGC), which holds 50 per cent interest in the block, in a stock exchange filing, said the Ministry of Petroleum and Natural Gas has, in a September 19 letter, told the partners that the application for extension of the production sharing contract (PSC) for CB-OS/2 has not been accepted. ONGC, which has been asked to take over the operations in the interim period, did not state the reason for the move. PSC is an agreement between the government and a resource extraction company. It gives the company time-specified right to explore, develop and produce resources in exchange for a pre-agreed share of the produced output

IndusInd Bank appoints Viral Damania as new chief financial officer

Damania's appointment, effective September 22, comes after the bank late last month said veteran banker Rajiv Anand had taken charge as its CEO for a three-year period

Hero Future Energies gets ₹1K cr funding from SBI to fund hybrid project

Hero Future Energies has secured a Rs 1,024 crore funding from State Bank of India (SBI) to finance a hybrid project in Andhra Pradesh. The 60 MW project, which combines solar, wind and storage, and is contracted with SECI, is being built in Kurnool district of the southern state. Funding worth Rs 10,240 million (Rs 1,024 crore) has been secured through SPV (special purpose vehicle) Clean Solar Power Barmer. The funds will be utilised for the development and construction a 60 MW hybrid peak power project, the company said. This funding, which will have repayment spread over a period of 21 years, will help in timely completion of the said peak power project. The renewable energy arm of the Hero Group, HFE is backed by leading global investors such as International Finance Corporation (IFC) and KKR.

YES Bank says SMBC stake buy paves way for possible rating upgrade

Japanese lender SMBC's decision to buy nearly 25 per cent stake in Yes Bank should be seen as a vote of confidence and also creates "possibilities" of a rating upgrade, a top official at the private sector lender has said. The nearly Rs 16,000-crore bet from Sumitomo Mitsui Banking Corporation (SMBC) is a strategic one from an investor of global repute and it will help improve Yes Bank's ability to raise capital, drive business growth through network tie-ups and increase profitability, the official said. "(With) the advantage ...in terms of having a strategic investor, ability to raise capital, somebody willing to put (money) ...the possibility of our rating upgrade is there," Yes Bank's managing director and chief executive Prashant Kumar told PTI in an interview here. Kumar, a career SBI executive who was rushed to helm the recovery of the private bank in March 2020, said that Yes Bank's rating has improved to 'AA-' now from 'D' earlier. Commenting on Yes Bank's journey over the

Govt headhunter body recommends B Sairam as next Coal India Chief

Government headhunter PESB has recommended B Sairam, the current CMD of Northern Coalfields Ltd, as the next Chairman of coal behemoth CIL. The key tasks for a new Coal India CMD would involve addressing operational challenges such as increasing production and improving coal evacuation when there is a great push by the government to ramp up the domestic output to bring down the reliance on coal imports. Northern Coalfields Ltd (NCL) is a subsidiary of Coal India Ltd (CIL). The Public Enterprises Selection Board (PESB) recommended his name for the key post on Saturday. PESB said on its website that its recommends the name for B Sairam for the post of Chairman and Managing Director, Coal India Ltd. The recommendation of the Sairam came after 10 other applicants, including Chairman-cum-Managing Director (CMD) of Mineral Exploration And Consultancy Ltd (MECL) and CMD of Central Coalfields Ltd (CCL) -- another CIL arm -- were interviewed for the key post. The current Chairman of Coal

Australian mining firm BHP to name Geraldine Slattery first female CEO

CEO Mike Henry is expected to step down by the middle of 2026 after five years at the helm, the report said, citing unnamed people "familiar with the board's thinking"

Aaiji Group to invest ₹100 cr in affordable housing along Lothal-Dholera

Aaiji Group will invest Rs 100 crore to develop affordable residential and commercial spaces along the Lothal Dholera corridor in Gujarat over the next two years, a top company official said. The initiative comes as the region experiences strong economic growth, supported by major tourism, heritage and industrial projects, Aaiji Group Managing Director Lalit Parihar said. In the next two years, the Lothal - Dholera belt is projected to witness huge demand for residential apartments and commercial spaces, Parihar said. Dholera is home to over 100 companies and landmark projects, including Tata Electronics' USD 10.9 billion semiconductor plant, creating significant employment opportunities, he added. Our Rs 100 crore investment reflects our confidence in the corridor's potential and our commitment to deliver modern, high-quality developments for residents, businesses and investors, he said.

IL&FS to exit Roadstar InvIT, will offload entire 15% residual stake

Debt-ridden Infrastructure Leasing & Financial Services has decided to sell its entire 15 per cent residual stake in Roadstar Infra Investment Trust (InvIT) to reduce liabilities. Infrastructure Leasing & Financial Services (IL&FS) has appointed Axis Bank to scout for potential buyers for its 15.1 per cent stake in Roadstar InvIT. "Sale of IL&FS' 15 per cent stake in Roadstar InvIT forms an important part of the Group's resolution initiative and approved framework. We would be taking steps in this direction - including appointing consultants and intermediaries - in due course," an IL&FS Group spokesperson said. In March this year, IL&FS had listed the Roadstar Infra Investment Trust units on NSE as a part of its debt restructuring. Roadstar Infra Investment Trust, sponsored by Roadstar Infra, was established with the objective of owning, operating and investing in infrastructure projects in India, directly or indirectly, and is registered under the InvIT ...

Flipkart completes self-audit on dark patterns, says compliant with CCPA

Flipkart Group on Thursday said it has completed an independent self-audit on its digital platforms, aimed at ensuring "the highest standards of compliance, accountability" and aligning with Central Consumer Protection Authority guidelines and advisory on prevention and regulation of dark patterns. The comprehensive self-audit completion declaration has been submitted to the Consumer Affairs Secretary Nidhi Khare, the company said in a statement. The group, which includes Flipkart, Myntra, Flipkart Wholesale, and Cleartrip, affirmed its commitment to ensuring that its customers are treated with fairness and transparency. "Flipkart Group...today announced the completion of a comprehensive, independent self-audit on its digital platforms. The audit has been done to ensure the highest standards of compliance, accountability, and consumer protection with the Central Consumer Protection Authority (CCPA) Guidelines and Advisory for Prevention and Regulation of Dark Patterns, 2023 and 2025

GAIL to supply natural gas to Tata Steel's Combi-Mill plant in Jamshedpur

GAIL (India) Ltd has entered into an agreement with Tata Steel for supply of natural gas to the steel major's Combi-Mill plant in Jamshedpur, a statement said. As per the agreement, GAIL will supply 31,000 standard cubic metres per day (SCMD) of natural gas until March 2026, with volumes scaling up to 43,000 SCMD thereafter, it said. Supply to Tata Steel's Combi-Mill plant under the City Gas Distribution project being implemented in East Singhbhum, will commence by the end of this September. This agreement represents the largest industrial customer onboarding since the inception of GAIL's City Gas Distribution GAs located in Varanasi, Patna, Ranchi, East Singhbhum, Cuttack and Kordha, the company said. To connect the Combi-Mill plant, GAIL has commissioned a 23-km pipeline route, it said. General Manager and GA in-charge of GAIL, Gauri Shankar Mishra, stated that the collaboration with Tata Steel demonstrates the company's dedication to providing cost-effective, environmentally ..

Hyderabad bound A-I Express flight makes emergency landing in Vizag

An Air India Express flight from Visakhapatnam to Hyderabad with 103 passengers made an emergency landing here on Thursday, following an engine problem after a suspected bird hit mid-air, said an official. Visakhapatnam Airport director S Raja Reddy said the pilot of Air India Express flight number IX 2658 requested for the emergency landing and returned to the port city after abandoning the journey to Hyderabad. "After departing Vizag, the pilot reported some problem in the engine. So, he asked for an emergency landing and returned to Vizag. The flight landed safely and passengers were deboarded," Reddy told PTI, adding that alternative arrangements are being made by the airline. According to the director, the aircraft departed Vizag at 2.38 pm and returned by 3 pm, travelling only around 10 nautical miles while the bird hit was suspected to have occurred while ascending.