Muthoot Microfin Limited has announced a 35 basis points (bps) interest rate cut, the second reduction this year following a 55 bps cut in January. This move lowers the effective lending rate from 23.65% to 23.30%, reflecting the company’s commitment to making financial services more affordable and accessible. Muthoot Microfin has demonstrated significant growth, with …
About Approval Zydus Lifesciences Limited has achieved a significant milestone with the final approval of its New Drug Application (NDA) by the US Food and Drug Administration (USFDA). This paves the way for Zydus to market ZituvimetTM XR, an extended-release tablet combining sitagliptin and metformin hydrochloride, for the treatment of type 2 diabetes in the …
Caplin Steriles Limited (Caplin), a subsidiary of Caplin Point Laboratories Limited, has secured significant approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Ephedrine Sulfate Injection USP, 50 mg/mL Single Dose Vial. This generic version is therapeutically equivalent to the reference-listed drug (RLD) AKOVAZ, manufactured by …
India’s state-owned oil companies are accelerating their capital expenditure (capex) plans for the 2024-25 fiscal year. Leading the charge are the Indian Oil Corporation (IOC) and Oil and Natural Gas Corporation (ONGC), which have already spent a significant portion of their annual budgets in the first quarter (Q1). Strong Start to FY25 Indian Oil Corporation …
GPT Infraprojects Limited (GPT), a leading infrastructure construction and engineering company, has secured a significant boost to its order book. The company announced that existing contracts with two prominent clients, the National Highways Authority of India (NHAI) and Eastern Railway, Kolkata, have been enhanced by a combined value of ₹103 crore. This positive development highlights …
Moneyboxx Finance has announced an equity fundraising of ₹271 crore following its board meeting on July 17, 2024. The capital raise includes ₹158 crore through a preferential equity issue and ₹113 crore via equity warrants to both promoters and non-promoters. This funding boost will significantly enhance the company’s capital position and support its expansion plans. …
Radico Khaitan Limited has announced that its brand Magic Moments is partnering with Saregama, India’s leading music label, to launch an innovative music series called ‘Magic Moments Music Studio’. The company stated that this series aims to celebrate diverse musical talents across various genres and generations. By providing emerging artists with a platform to gain …
Blue Star Limited has announced the completion of its final tranche of investment in its wholly-owned subsidiary, Blue Star Climatech Limited (BSCL). In a communication dated November 8, 2023, the company detailed its plan to invest up to ₹94.40 crores in BSCL by subscribing to its rights issue. This investment involves purchasing up to 9,44,00,000 …
On July 18, 2024, Shoppers Stop Ltd, a prominent department store offering premium fashion and beauty brands, announced its financial results for the quarter ending June 30, 2024. Key Financial Highlights For Q1 FY25 Shopper Stop reported strong results for Q1FY25, with sales reaching ₹1034 crore, marking a 5% increase year-on-year, and EBITDA of ₹146 …
On July 18, 2024, Dr Gyanendra Shukla, Managing Director and CEO of Rallis India Limited, announced the company’s results for Q1 FY25. He noted that the agrochemical industry faces growth challenges due to low prices caused by oversupply, but domestic demand is improving with the arrival of the monsoon. Key Highlights: Q1 FY25 In Q1 …
