Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

Two promoter entities of Reliance Communications (RCom) have pledged 11.5 per cent more stake in favour of Axis Trustee Services, according to regulatory filings.

Reliance Communications Enterprises and Reliance Telecom Infrainvest on August 16 pledged about 11.51 per cent of their holding in Reliance Communications amounting to 31.82 crore shares in favour of Axis Trustee Services acting as security/debenture trustee.

Mahindra & Mahindra (M&M), along with its local partner in Sri Lanka Ideal Motors, has set up the island nation's first passenger car assembly plant.

The Indian carmaker has set up a joint venture with Ideal Motors, its dealer partner in Sri Lanka for 10 years. The 65:35 JV between Ideal Motors and M&M is christened Mahindra Ideal Lanka Private Limited, which will operate the assembly plant at Welipenna, about 60 km from Colombo.

NEW DELHI: Mutual fund houses should ensure that banks -- where a scheme has parked funds in the lender's short-term deposits -- do not invest in that particular scheme, according to Sebi.

The markets watchdog has issued a clarification regarding 'parking of funds in short-term deposits of scheduled commercial banks by mutual funds -- pending deployment'.

Srinagar: Restrictions on the movement of people in the Kashmir Valley were eased on Saturday, with landline services restored in some areas of the city, even as stringent security arrangements continued to be in place, officials said.

Seventeen out of a little over 100 telephone exchanges were made operational. These exchanges are mainly in Civil Lines, Cantonment and the airport area of Srinagar district.

New Delhi: TVS Motor Company on Saturday said its Singapore arm has invested USD 3.2 million in US-based Predictronics Corporation which specialises in providing end-to-end predictive maintenance analytics solutions.

TVS Motor (Singapore) Pte Ltd, a wholly owned subsidiary, has signed definitive agreements with Predictronics Corporation, a US corporation, headquartered in Cincinnati, Ohio, the company said in a statement.

NEW DELHI: The telecom regulator has started a consultation process to take a relook at the business scope of infrastructure providers in the country and encourage active infrastructure sharing at a time when telecom operators are battling shrinking revenue streams and looking at cost-cutting measures.

The CSIR-Indian Institute of Chemical Technology here said on Friday that it has signed an agreement with pharma major SunPharma for “out-licensing of patents on a New Chemical Entity for multiple therapeutic indications”.

When new compounds are sought to be used as drug candidates, they are named as NCEs, IICT sources said.

Bracing for a future with less-polluting fuels, state-run refiner Hindustan Petroleum is planning a pilot programme for swapping batteries of electric two- and three-wheelers at its outlets by December, according to people familiar with the matter.

The initiative is aimed at helping the company maintain its grip on a segment of the mobility market that’s rapidly shifting to cleaner power sources, said the people, who asked not to be identified because the plans aren’t public. The ultimate capacity of the programme hasn’t been decided.

Hinduja group flagship firm Ashok Leyland Limited (ALL) is in for another challenging time.

Amidst slowdown blues and suspended production at its plants due to weak demand, workers’ union at the company’s Ennore plant (the mother plant set up in 1960s) went on a day’s sit-in-dharna on Friday, protesting against the management’s refusal to meet the union’s demand on bonus issue. However, the plant’s production has not been hit, said sources in the know.

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