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  • Govt raises $2.7 billion as LIC prices IPO at Rs 949; listing next week May 13, 2022 01:02 PM IST

    Govt raises $2.7 billion as LIC prices IPO at Rs 949; listing next week

    Life Insurance Corporation of India shares have been priced at 949 rupees each, the state-run firm said in a prospectus filed Friday. LIC shares were offered at 902 rupees to 949 rupees apiece. Trading on the stock exchange is due to begin May 17.

  • LIC Housing Finance ups home loan interest rate by 20 bps for select borrowers May 13, 2022 12:49 PM IST

    LIC Housing Finance ups home loan interest rate by 20 bps for select borrowers

    For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a statement, adding that the revised rates are applicable from Friday.

  • Coming soon: A new cinema near you, courtesy a multiplex screen drive May 13, 2022 12:36 PM IST

    Coming soon: A new cinema near you, courtesy a multiplex screen drive

    Multiplexes are expected to take their screen count up from around 3,100 to over 3,800 by the end of FY23

  • Zipaworld Innovation plans to raise $0.5 million at $14 million valuation May 13, 2022 11:09 AM IST

    Zipaworld Innovation plans to raise $0.5 million at $14 million valuation

    The startup plans to harness the funds to mobilise and accelerate AI and ML-based logistics and supply chain services, anticipating market trends and risks as well as to support consequent research and development, among others, it said in a statement.

  • Balaji Amines: An eagle eye for import substitution opportunities May 13, 2022 10:36 AM IST

    Balaji Amines: An eagle eye for import substitution opportunities

    Balaji Amine’s project execution is worth noticing, due to which earnings potential has significantly increased over the years

  • Zydus Lifesciences launches drug for treating bad cholesterol May 13, 2022 10:09 AM IST

    Zydus Lifesciences launches drug for treating bad cholesterol

    Bemdac (Bempedoic acid) is a new class of drug which is orally administered and offers a new line of treatment for patients suffering from uncontrolled levels of LDL-Cholesterol (LDL-c) despite lifestyle modifications and the use of maximum tolerated dose of statins, which form the cornerstone of dyslipidemia management, the company said in a regulatory filing.

  • NHPC awards contracts for 1,000-MW solar project May 13, 2022 09:45 AM IST

    NHPC awards contracts for 1,000-MW solar project

    NHPC Ltd has awarded EPC contracts for development of grid connected solar PV project (1,000 MW capacity) and transmission line for power evacuation to ISTS sub-station along with comprehensive operations and maintenance for 5 years under Tranche-III of CPSU Scheme Phase-11, it said.

  • Airtel, Jio drive telecom subscriber base to 116.6 crore in March May 13, 2022 09:41 AM IST

    Airtel, Jio drive telecom subscriber base to 116.6 crore in March

    Bharti Airtel and Reliance Jio led new customer additions in both mobile telephony as well as fixed line services segment in March.

  • Increasing production capacity in India to start exporting devices this year: Vivo India May 13, 2022 09:39 AM IST

    Increasing production capacity in India to start exporting devices this year: Vivo India

    Vivo India director, business strategy, Paigam Danish told PTI that the company will make its flagship device Vivo X80 series also in India where it plans to increase annual production capacity to 60 million devices per annum by end of this year from 50 million in 2021.

  • NTPC to raise Rs 5,000 crore via term-loan to fund capex May 12, 2022 02:38 PM IST

    NTPC to raise Rs 5,000 crore via term-loan to fund capex

    "Proceeds of the loan shall be utilised towards capital expenditure for ongoing/new capacity addition programme, including the takeover of projects, renewable energy projects, coal mining & washeries, renovation & modernisation program of various projects, refinancing of loans and general corporate purposes etc,” as per the request for proposal (RFP) document.

  • Byju’s said to be in talks with lenders for $1 billion funding May 12, 2022 01:02 PM IST

    Byju’s said to be in talks with lenders for $1 billion funding

    The Bangalore-based market leader is in talks with banks, including Morgan Stanley and JPMorgan Chase & Co., for the funding to acquire another edtech company, the people said, asking not to be named as the information is not public.

  • Ford drops plans of making EVs in India May 12, 2022 12:51 PM IST

    Ford drops plans of making EVs in India

    The same was communicated to employees in Chennai plant earlier on Thursday morning.

  • Pimco saw $14 billion outflows amid bond selloff May 12, 2022 11:55 AM IST

    Pimco saw $14 billion outflows amid bond selloff

    The outflows contributed to a 4.5% drop in outside money overseen at Allianz SE’s asset management business in the first quarter, the Munich-based insurer said in a statement Thursday.

  • BIAL partners with Kotak Mahindra Bank, Phi Commerce to facilitate one-stop payment solution May 12, 2022 11:45 AM IST

    BIAL partners with Kotak Mahindra Bank, Phi Commerce to facilitate one-stop payment solution

    It will power B2B and B2C payments across channels both online and offline, BIAL said in a release on Thursday. Designed specifically for the airport, the solution will enable a secure, scalable, and unified payment experience.

  • Cipla: Targets for US complex generics on track May 12, 2022 11:44 AM IST

    Cipla: Targets for US complex generics on track

    Cipla is looking at launching inhalation product Advair in the second half of FY23

  • India asks court to restore block on Xiaomi bank assets May 12, 2022 11:38 AM IST

    India asks court to restore block on Xiaomi bank assets

    The enforcement directorate had seized the money saying Xiaomi had illegally transferred funds abroad to three entities, including one in the Xiaomi group, describing them as payments "in the guise of royalty".

  • AGEL to issue of 2 crore shares worth Rs 3,850 crore to Green Energy Investment May 12, 2022 11:09 AM IST

    AGEL to issue of 2 crore shares worth Rs 3,850 crore to Green Energy Investment

    "Management committee of the Company, at its meeting held today approved allotment of the equity shares of Company by way of the private placement on a preferential issue basis to Green Energy Investment Holding RSC Ltd,” a BSE filing said.

  • KPTL, subsidiaries bag orders worth Rs 4,474 crore May 12, 2022 11:03 AM IST

    KPTL, subsidiaries bag orders worth Rs 4,474 crore

    Kalpataru Power Transmission -- a leading global EPC (engineering, procurement and construction) player in the power and infrastructure contracting sector -- and its subsidiaries have secured new orders/ notification of awards of Rs 4,474 crore at the consolidated level, a company statement said.

  • Asian Paints: Sustained volume growth, better margins drive Q4 May 12, 2022 09:20 AM IST

    Asian Paints: Sustained volume growth, better margins drive Q4

    While the paint business is on a strong footing, the management is looking to accelerate its journey into the home improvement space by leveraging the existing distribution network

  • Ultratech makes a formal bid for Holcim's India assets May 12, 2022 07:28 AM IST

    Ultratech makes a formal bid for Holcim's India assets

    The JSW Group, which is already present in the sector and the Adani Group which does not have a presence, are also reportedly in the race for the prized assets.

  • Google joins Amazon in mulling a bid for coveted IPL May 12, 2022 07:00 AM IST

    Google joins Amazon in mulling a bid for coveted IPL

    The American tech company, which also has the video-streaming website YouTube, purchased the bid-related documents from the Board of Control for Cricket in India, or BCCI, according to people familiar with the matter, who asked not to be named as the information isn’t public.

  • DHL Supply Chain expands fulfilment network to 3 cities May 11, 2022 01:06 PM IST

    DHL Supply Chain expands fulfilment network to 3 cities

    The company had launched its first fulfilment network in Bengaluru in September last year.

  • Alembic Pharma gets final USFDA nod for generic version of Arformoterol Tartrate inhalation solution May 11, 2022 11:43 AM IST

    Alembic Pharma gets final USFDA nod for generic version of Arformoterol Tartrate inhalation solution

    The approval by the US Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Arformoterol Tartrate inhalation solution is for strength of 15 mcg (base)/2 mL unit-dose vial, the company said in a statement.

  • Marks & Spencer Reliance India appoints Ritesh Mishra as Managing Director May 11, 2022 11:26 AM IST

    Marks & Spencer Reliance India appoints Ritesh Mishra as Managing Director

    Mishra, previously Head of Operations and Property, takes over from James Munson who will now assume the role of M&S International Retail Director in the UK, the company said in a statement.

  • India asks GAIL to import LNG to meet rising city gas demand May 11, 2022 06:49 AM IST

    India asks GAIL to import LNG to meet rising city gas demand

    City gas distributors (CGD) have set up sales network to supply gas to transport and households across the country, buoyed by Prime Minister Narendra Modi's aim to raise the share of gas in India's energy mix to 15% by 2030 from 6.7% now.

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