Company News

US FDA notices 9 deviations at Cipla plant; stock falls

CiplaA recent scrutiny of drug-manufacturer Cipla's Bangalore plant by the US Food and Drug Administration (FDA) revealed as many as nine deviations in the pharma firm's manufacturing process.

With the reports about the digression found at the plant, the shares of Cipla suffered a blow at the Bombay Stock Exchange (BSE), as well as the National Stock Exchange (NSE), on Monday. Despite the company justifying its stand and terming the deviations as "minor ones" relating to manufacturing practices, the stock fell at the BSE.

Numeric Power to setup a Rs 25 crore MW solar project in Tamil Nadu

Numeric Power SystemsNumeric Power Systems, a provider of uninterrupted power supply (UPS) systems, has decided to set up a 1 MW solar energy farm at Palladam near Coimbatore district of Tamil Nadu.

The company would setup its first solar independent power project (IPP), through its newly established subsidiary, Numeric Solar Energy Pvt. Ltd.

According to company officials, the company would buy solar cells from suppliers in Japan and Germany and configure panel modules and assemble them. The cost of the project is estimated at Rs 25 crore, which will be financed through internal accruals.

Ultra Motor Company launches much awaited e-scooter ‘Marathon Lite’

Ultra Motor CompanyUltra Motor Company, a leading electric cycle and electric scooter manufacturer, has finally launched its much awaited low speed scooter `Marathon Lite' in the Indian market.

The latest revealed vehicle comes with exciting new features like a 250w motor and 48V/20AH power packed battery, Magnetic Anti Theft Lock System, Spacious under seat storage option, Front Telescopic Suspension in Black, Yellow & Blue colour variants.

The latest scooter gives a maximum speed of 25 km per hour and covers a distance of 70 km with single charge. The company has fixed price tag of Rs. 25,850/- .

UTV arm launches India’s first mobile music video channel ‘UTV@Play’

UTV arm launches India’s first mobile music video channel ‘UTV@Play’ UTV New Media, a digital arm and subsidiary of UTV, has announced the launch of India's first mobile music video channel 'UTV@Play'.

According to the company, the facility is accessible by consumers with mobile accounts with Vodafone, BSNL, MTNL and Idea and users can download the application to access the content from a WAP portal.

The mobile channel is an extension of internet portal UTV@play and costs Rs10 per day or Rs 30 per month. UTV already offers a mobile service of its Bindass channel.

MTNL to launch 3G services in Mumbai by next month

MTNL to launch 3G services in Mumbai by next monthState-run telecom service provider MTNL intends to launch its third generation (3G) services in Mumbai next month as it targets a user base of 1,00,000 for the third generation mobile service by the year end.

The company has already embarked Rs 200 crore for building optic fiber networks in Delhi and Mumbai for providing fiber-to-the-home, or FTTH services.

The company had recently launched its 3G services `Jadoo' in central and some of parts of South Delhi. The company plans to expand its 3G services to the remaining parts of Delhi in the next two-three months.

SBI sanctions Rs 10000 crore loan to Vodafone

SBI sanctions Rs 10000 crore loan to VodafoneState Bank of India, the country's top lender, has agreed to lend Rs 10,000 crore to Vodafone-Essar, the Indian arm of UK-based telecom firm Vodafone Group to finance the company’s entry into 3G (third generation) telecom services and expansion of its operations.

According to sources, the five-year loan carries an interest rate of 13.25 per cent for the first two years; thereafter, it will be re-adjusted on the basis of the average prime lending rate.

The company intends to use the funds for network rollout, broadband operations, and to pre-pay part of its previous debt.