Zydus Cadila agrees to reduce price of each dose of its Covid-19 vaccine to Rs 265
NEW DELHI: Zydus Cadila has agreed to bring down the price of its COVID-19 vaccine to Rs 265 a dose following persistent negotiations by the government but a final deal is yet to be reached, sources said on Sunday. To administer the needle-free ZyCov-D vaccine, a disposable painless jet applicator costing Rs 93 is required […]
Eldeco raises Rs 275 crore debt from Tata Capital Housing Finance for its projects
NEW DELHI: Realty firm Eldeco Group on Thursday said it has raised Rs 275 crore debt from Tata Capital Housing Finance Ltd (TCHFL) to fund its ongoing housing projects. The Delhi-based Eldeco group will utilise the fund on its two residential mid- income projects in the national capital region, according to a statement. The company […]
Realty firm Hines, DNR group to invest Rs 650 crore in Bengaluru project
NEW DELHI: US-based realty firm Hines and DNR group will invest Rs 650 crore over the next three years to develop a commercial project in Bengaluru. Hines, a global real estate investment firm with a presence in 255 cities across 27 countries, entered India in 2006. Last year, Hines and Bengaluru-based DNR partnered to develop […]
Modi government invites applications for post of Sebi chairman in place of Ajay Tyagi
NEW DELHI: The finance ministry has invited applications to appoint the next chairman of the Securities and Exchange Board of India (Sebi) to succeed Ajay Tyagi, whose five-year term comes to an end in February. Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as Sebi chairman on March 1, 2017, for […]
Godrej Group headed for split of $4.1 billion business empire: Report
NEW DELHI: The $4.1 billion Godrej Group, spanning from soaps and home appliances to real estate, is headed for a split between the brothers, sources aware of the matter said, citing external advice the family has sought for an amicable division of the 124-year-old conglomerate. At present, the group is led by veteran industrialist Adi […]
JK Lakshmi Cement second quarter net profit dips 6% to Rs 87 crore
NEW DELHI: JK Lakshmi Cement Ltd on Friday reported a 6.06 per cent decline in consolidated net profit for the September quarter at Rs 87.29 crore, hit by higher input costs. The company had posted a profit of Rs 92.93 crore in the July-September period a year ago, JK Lakshmi Cement said in a regulatory […]
Dalmia Cement to set up Rs 577 crore plant in Jharkhand’s Bokaro
NEW DELHI: Dalmia Cement will set-up a 2 million tonne plant at Jharkhand’s Bokaro at an estimated cost of Rs 577 crore, Jharkhand government said on Friday. The Jharkhand government has ensured allotment of land for the cement plant, a statement from the state government said. The cement maker had expressed commitment in this regard […]
Realty major DLF cuts net debt by 16% in September quarter to Rs 3,985 crore
NEW DELHI: Realty major DLF Ltd has reduced its net debt by 16 per cent during the July-September period to Rs 3,985 crore on improved cash flows amid a revival in housing demand. According to an investors presentation, DLF’s net debt has come down to Rs 3,985 crore as on September 30, 2021 from Rs […]
CAIT pegs Rs 50,000 crore losses to Chinese exporters this Diwali
NEW DELHI: Trader’s body CAIT on Friday said it estimates Chinese exporters to suffer business losses worth Rs 50,000 crore this Diwali season due to its boycott call. The Confederation of All India Traders (CAIT) also expects that consumers may spend about Rs 2 lakh crore during the Diwali festival sale period. “Like previous year, […]
Zydus Cadila posts consolidated revenues of Rs. 3785 crore in Q2
NEW DELHI: For the second quarter ended September 30, 2021, Zydus Cadila posted consolidated revenue of Rs. 3785 crore, up 3% on a y-o-y basis. Earnings before Interest, Depreciation and Tax (EBIDTA) for the quarter was Rs. 861 crore, up by 6% y-o-y. The EBIDTA margin for the quarter was 22.7%, an improvement of 50 […]
India, ADB sign $251 million loan for integrated urban flood management in Chennai
NEW DELHI: The Government of India and the Asian Development Bank (ADB) today signed a $251 million loan for climate-resilient, integrated urban flood protection and management in the Chennai-Kosasthalaiyar basin to strengthen resilience of Chennai city to floods. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance signed for the […]
Supreme Court says firecracker ban not against any community
NEW DELHI: The Supreme Court Thursday dispelled the impression that it was against particular group or community by banning firecrackers and said it cannot allow violation of rights of citizens under the guise of enjoyment. A bench of Justices M R Shah and A S Bopanna made it clear that it wants full implementation of […]
Sensex cracks 1,159 points; Nifty slumps below 17,900
NEW DELHI: Equity benchmark Sensex plunged 1,159 points on Thursday following an across-the-board selloff as monthly derivatives expired amid a weak trend in global markets. The 30-share index tanked 1,158.63 points or 1.89 per cent to close at 59,984.70. Similarly, the broader NSE Nifty plummeted 353.70 points or 1.94 per cent to 17,857.25. ITC was […]
Maruti Suzuki to launch electric vehicles only after 2025
NEW DELHI: Maruti Suzuki India will launch electric vehicles in the country only after 2025 as demand for such vehicles at the moment is less and it would like to sell around 10,000 units a month whenever it enters the electric mobility space, company Chairman RC Bhargava said on Wednesday. Addressing a virtual conference on […]
Smart World Developers to invest Rs 3,000 crore in 2 Gurugram projects
NEW DELHI: Realty firm Smart World Developers, which has been set up by M3M group promoters, on Tuesday said it will invest around Rs 3,000 crore to develop the company’s first two residential projects in Gurugram. The company plans to launch two housing projects during this month after getting the necessary regulatory approvals. “We are […]
Narendra Modi inaugurates 9 Medical Colleges in Uttar Pradesh
NEW DELHI: Prime Minister Narendra Modi inaugurated 9 Medical Colleges in Siddharth Nagar, UP. These nine medical colleges are in the districts of Siddharthnagar, Etah, Hardoi, Pratapgarh, Fatehpur, Deoria, Ghazipur, Mirzapur and Jaunpur. Governor and Chief Minister of Uttar Pradesh. Addressing the event, the Prime Minister said the Union Government and the Government of Uttar […]