Lupin Q4 net profit up 18% at Rs 460 crore; FY21 profit at Rs 1,216 crore
NEW DELHI: Drug maker Lupin on Thursday reported an 18 per cent increase in its consolidated net profit at Rs 460 crore for the fourth quarter ended March 31, 2021, driven by robust sales across domestic and international markets. The Mumbai-based company had reported a net profit of Rs 390 crore in the January-March quarter […]
India received $83 billion in remittances in 2020: World Bank report
NEW DELHI: India received over USD83 billion in remittances in 2020, a drop of just 0.2 per cent from the previous year, despite a pandemic that devastated the world economy, according to a World Bank report. China, which received USD59.5 billion in remittances in 2020 against USD68.3 billion the previous year, is a distant second […]
Samsung Elec raises non-memory chip investment to $151 billion through 2030
NEW DELHI: Samsung Electronics Co Ltd (005930.KS) said on Thursday it would invest 171 trillion won ($151.10 billion) in non-memory chips through 2030, raising its previous investment target of 133 trillion won announced in 2019. Samsung competes with bigger rivals Taiwan’s TSMC (2330.TW) in contract chip manufacturing and Qualcomm Inc (QCOM.O) in mobile processing chips. […]
InterGlobe Aviation to raise Rs 3,000 crore
NEW DELHI: InterGlobe Aviation, parent of the country’s largest airline IndiGo, on Monday said its board has approved raising up to Rs 3,000 crore through sale of shares to institutional investors. The fund raising plan of the company comes at a time when the airline industry is facing significant headwinds due to the coronavirus pandemic […]
Modi government releases Rs. 8923.8 crore to Panchayats in 25 States
NEW DELHI: The Under Narendra Modi government said that Department of Expenditure, Ministry of Finance, yesterday released an amount of Rs. 8,923.8 crore to 25 States for providing grants to the Rural Local Bodies (RLBs). The grants are meant for all the three tiers of Panchayati Raj Institutions – village, block and district. The amount […]
Kamdhenu eyes Rs 1,000 crore revenue from paints section in next 5 years: CMD
By Abhishek Sonkar NEW DELHI: Building materials maker Kamdhenu Group is looking at over Rs 1,000 crore revenue from its paints segment over the next five years, amid rising demand for the product in line with new housing projects. The company is also in the process of hiving off its paints business into a separate […]
Market capitalization of eight of top-10 most-valued companies zooms by Rs 81,250.83 crore
NEW DELHI: Eight of the top-10 most-valued companies together added Rs 81,250.83 crore in market valuation last week, with Tata Consultancy Services emerging as the biggest gainer. Only Reliance Industries Ltd and Infosys took losses in their market capitalisation for the week closed on Friday. Rest eight companies — Tata Consultancy Services, HDFC Bank, Hindustan […]
Pay only for IPL matches played so far, Star tells worried sponsors and advertisers
NEW DELHI: Star Sports has told advertisers who had bought airtime on the now-suspended 14th edition of the popular Indian Premier Leage (IPL) cricket tournament to pay only for the matches that have been played, sources said. Star Sports has bagged the IPL’s television and digital rights for 2018-2022 for Rs 16,348 crore, agreeing to […]
Joe Biden administration backs Covid-19 vaccine patent waiver
WASHINGTON: The Joe Biden administration on Wednesday joined calls for more sharing of the technology behind COVID-19 vaccines to help speed the end of the pandemic, a shift that puts the U.S. alongside many in the developing world who want rich countries to do more to get doses to the needy. United States Trade Representative […]
Banks given liquidity facility of Rs 50,000 crore to improve access to emergency health services
NEW DELHI: The RBI Governor Shaktikanta Das has announced a series of measures to support the nation’s fight against the second wave of COVID-19 infections. “Alleviating any constraint from the financing side for all stakeholders – government, hospitals and dispensaries, pharmacies, vaccine/medicine manufacturers/importers, medical oxygen manufacturers/suppliers, private operators engaged in the critical healthcare supply chain, […]
India seeks investments from US companies in pharma, medical devices sector
NEW DELHI: India has reached out to top American pharma companies seeking investment in the country’s pharmaceutical and medical devices sector, which gains urgency in view of a devastating second wave of the coronavirus pandemic. India’s Ambassador to the US Taranjit Singh Sandhu has held virtual meetings with Alberta Bourla, the CEO of Pfizer, Thermo […]
Godrej Properties clocks record sales bookings of Rs 6,725 crore in FY21
NEW DELHI: Realty firm Godrej Properties’ sales bookings grew by 14 per cent to an all-time high of Rs 6,725 crore during the last financial year, despite a slowdown in the property market due to the pandemic. In an investor presentation, the Mumbai-based company said it has achieved sales bookings of more than Rs 1,300 […]
Supreme Court strikes down West Bengal law on regulating real estate, holds it unconstitutional
NEW DELHI: The Supreme Court on Tuesday struck down West Bengal’s law on regulating the real estate sector in the state, and said it was unconstitutional as the statute encroached upon the Centre’s Real Estate (Regulation and Development) Act,. A bench of justices D Y Chandrachud and M R Shah said the West Bengal Housing […]
Narendra Modi government, Adar Poonawalla refute reports about no Covid-19 vaccine orders
NEW DELHI: Debunking news reports that India has not placed fresh orders for Covid vaccines with the Serum Institute of India (SII) and Bharat BioTech since March, the Union government on Monday said such reports are completely incorrect and are not based on facts. The media reports suggested that the last order placed with the […]
First consignment of non-basmati rice exports from Odisha flagged off to Vietnam
NEW DELHI: In a major boost to India’s rice exports potential especially from eastern region, a consignment has been officially flagged off today from the Paradip International Cargo Terminal (PICT), Odisha to Vietnam. This is the first time in the history of Paradip Port, non-basmati rice will be exported. Sarala foods group will ship 20 […]
Revisit current Covid-19 vaccine policy, it may create disparity: Supreme Court to Centre
NEW DELHI: The Supreme Court has directed the Centre to revisit its COVID-19 vaccine pricing policy, saying it would prima facie result in a detriment to the right to public health. A bench headed by Justice D Y Chandrachud said as of date, the manufacturers have suggested two different prices, a lower price which is […]