India

Biocon’s Kiran Mazumdar-Shaw named winner of 2014 Othmer Gold Medal

Biocon’s Kiran Mazumdar-Shaw named winner of 2014 Othmer Gold Medal

Kiran Mazumdar-Shaw, chairperson and managing director of biotech giant Biocon Ltd, has been named the winner of this year's Othmer Gold Medal, the company has announced.

A spokesperson for the Bangalore-based company said Ms. Mazumdar-Shaw would receive the 2014 Othmer Gold Medal in March this year at Philadelphia.

The Othmer Gold Medal is a top award of the Philadelphia, U. S.-based non-profit organisation Chemical Heritage Foundation, which has been making efforts to preserve history and heritage of chemistry and chemical engineering.

U.S. FDA bans more products from Ranbaxy

U.S. FDA bans more products from Ranbaxy

The U. S. Food & Drug Administration (FDA) has confirmed that is it has banned the import of more Ranbaxy drugs into the U. S. market.

The FDA banned the products produced at Ranbaxy Laboratories Ltd's Toansa, Punjab-based facility due to certain manufacturing violations.

The regulator said it prohibited certain pharmaceutical products from the Toansa facility to prevent poor quality quality products from reaching American consumers.

RBI expected to keep key rates unchanged

RBI expected to keep key rates unchanged

The Reserve Bank of India (RBI) will likely keep its key interest rates steady when it meets later this month, a fresh poll conducted by Reuter suggested.

Of 50 economists, who took part in the poll, 45 said they expected the central bank to keep the repo rate unchanged at the meeting next week.

Most of the economists also said that the central bank would likely hold key interest rates steady until September this year, before cutting them by 25 basis points (bps) in the final quarter of 2014.

L&T jumps 3% on better-than-expected Q3 margins

L&T jumps 3% on better-than-expected Q3 margins

Stock in engineering giant Larsen & Toubro (L&T) gained nearly 3 per cent in early morning trade on Thursday, after the company reported higher-than-expected margins for the October-December quarter.

The largest engineering group of India reported an impressive year-on-year jump of 190 basis points in its ebitda margins, while adjusted margins climbed 160 basis points, thanks to higher revenues from the infrastructure segment.

BARC set to roll out TV ratings in Oct. 2014

BARC set to roll out TV ratings in Oct. 2014

Television audience measurement firm Broadcast Audience Research Council (BARC) is set to hit the market with its TV ratings in October this year.

On Tuesday, BARC announced that it had roped in French firm Mediametrie for key technology services and licensing for its proposed TV audience measurement system.

BARC Chairman Punit Goenka called the company's partnership with Mediametrie the first stride towards making BARC TV ratings a reality in the country. He added that they finalized Mediametrie after profound deliberation.

Global mobile ad spends will likely reach $41.9bn by 2017: Gartner

Global mobile ad spends will likely reach $41.9bn by 2017: Gartner

Global mobile advertising market will touch $18 billion next year and reach $41.9 billion by the year of 2017, according to research firm Gartner's fresh estimates.

In its latest report, released on Tuesday, Gartner said that growth in mobile ad spending would slow in the next few years because of faster growth in ad space inventory supply than demand, but improved market conditions would fuel growth from 2015 to 2017.

Hind Zinc shares jump on govt.’s stake sale decision

Hind Zinc shares jump on govt.’s stake sale decision

Stock in Hindustan Zinc Ltd gained as much as 5 per cent in early morning trade on Tuesday, a day after the government approved a stake sale in the company.

The government owns a 29.5 per cent stake in the Hindustan Zinc, which is controlled by billionaire Anil Agarwal Vedanta Resources.

London-listed Vedanta gained the support of its shareholders in October last year to acquire the government's minority stakes in Hindustan Zinc as well as Bharat Aluminium Co for up to $3.48 billion.

Petroleum ministry readies cabinet note on proposed hike in subsidised LPG cap

Petroleum ministry readies cabinet note on proposed hike in subsidised LPG cap

The proposal to hike the quota of subsidised LPG (cooking gas) cylinders from 9 to 12 per household per year has been readied and may be placed before the Cabinet Committee on Economic Affairs (CCEA) on Monday, a senior official from the ministry of petroleum has revealed.

Requesting anonymity, the official said that the note might either come up before the CCEA on Monday or sometime later this week before the Cabinet Committee on Political Affairs (CCPA).

Difficult days have ended for SAIL: says Chandreshwar Verma

Difficult days have ended for SAIL: says Chandreshwar Verma

The difficult days for Steel Authority of India (SAIL) have finally ended and the state-run steel giant is now on the path of growth, according to SAIL Chairman Chandreshwar Verma.

Mr. Verma on Sunday said that the future of SAIL was bright and the company had embarked upon an expansion project worth Rs 72 crore.

M&M to shut factories for up to 3 days to adjust production to slowdown

M&M to shut factories for up to 3 days to adjust production to slowdown

India automobile giant Mahindra & Mahindra (M&M) has announced its shut its factories for up to three days this month to adjust production to the slowdown in the market.

Mahindra Vehicle Manufacturers Limited, the wholly owned subsidiary of the utility vehicle giant, will also observe 1-3 no production days at its Chakan manufacturing facility during the remaining period of January.