Sun Pharmaceutical Industries Ltd has purchased Pola Pharma Inc., a Japanese drug-maker for a sum of US$1 million. Pola Pharma Inc is a part of the Pola Orbis group, which is primarily engaged in research and development, manufacture, sale and distribution of branded and generic products, primarily in dermatology. Kirti Ganorkar, executive vice-president of Sun Pharma, in a statement, said: “This acquisition is in line with our strategy to strengthen our global dermatology presence. Pola Pharma is a leading dermatology company and it will help us to launch our speciality and generic dermatology products in the Japanese market in future.” “We also get access to local manufacturing capability enabling us to serve the Japanese pharmaceutical market more effectively,” she added. Pola Pharma which has annua

The board of directors of HEG Ltd, the graphite electrode maker, has declared that they have approved a share buyback offer worth Rs 750 crores. In the statement released to BSE, HEG Ltd said, “The board of directors of the company at its meeting held Monday approved a proposal to buy back up to 13,63,636 shares of the company, being 3.41 per cent of the total paid up capital of the company for an aggregate amount not exceeding Rs 750 crore.” Also, an investment proposal of Rs 1,200 crores has been accepted by the board in order to expand the capacity of graphite electrodes and related products by 20,000 tonnes per annum (TPA). According to the filings, the existing capacity stands 80,000 TPA. HEG Ltd hosts the single largest site of an integrated graphite electrode facility in the world at the company�

The Gold prices after falling for two days straight finally recovered an inch, due to the higher global prices and local jewellery buying. Gold prices after declining by Rs 200 on Saturday rose by Rs 100 to Rs 31,850 per 10 gram. Silver rates which had fallen by Rs. 500 on Saturday, gained Rs 150 to Rs 37,450 per kg on Monday. Gold of 99.9% and 99.5% purity rose by Rs 100 each to Rs 31,850 per 10 gram and Rs 31,700 per 10 gram, respectively. India, which is the second largest consumer of gold in the world after China, have been seeming to poses a greater demand towards the end of the year due to the festive and wedding season. Also, Sovereign gold prices rose to Rs 24,800 (up by Rs 100) per piece of 8 gram. Whereas silver coins continued to be traded at the buying level of Rs 73,000 and selling level of Rs

The oil prices in the international market have continued to fall as Saudi Arabia has posted a record production of oil. International Brent crude oil futures briefly dipped below $60 per barrel before edging back to $60.10 per barrel, 38 cents, or 0.6 per cent down from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $51.21 per barrel, 42 cents or 0.8 per cent down from their last close. This has raised concerns of cautious trading ahead of the G20 gathering that starts in Argentina on Friday and next week’s OPEC meeting in Austria. Saudi Arabia has pulled record oil production to an all-time high of 11.1 million to 11.3 million barrels per day (bpd) during the month of November. Oil prices have lost almost a third of their value since their recent October peaks in, weighed dow

Two of India’s largest airliners, IndiGo and Spicejet, has announced that they will now charge for web check-in services for all seats as carriers are trying to look for ways to make up for higher costs. Now, after the revised policy, IndiGo’s will charge Rs. 100 as its lowest seat fee whereas SpiceJet’s will charge Rs 99. However, the passengers might have to pay up to Rs. 800 depending on the preference. Earlier customers only paid extra fees for selecting certain seats like; along the aisle, window-facing or with additional legroom, if they checked in online. This resulted in a public uproar on Twitter. Firstly IndiGo in a series of tweets stated: "As per our revised policy, all seats will be chargeable for web check-in. Alternatively, you may check-in at the airport for free. Seats will be assigne

In the upcoming days, televisions and other home appliance are expected to become costlier as the electronic equipment manufacturers are reviewing prices after the festive season sales. This is due to the weakening of the Indian rupee against the dollar as well as an increase in customs duty. Earlier during the festive season, manufacturers decided to hold the prices and absorb the impact of increased input cost in order to ensure smooth festive season sales. To an interview to PTI, Manish Sharma, Panasonic India President and Chief Executive Officer stated, “Over the last few months, the rupee has continually risen which in turn is impacting our inputs costs.” He added, “While we try to absorb maximum costs for our consumers, but given the market situation, we will be forced to hike the prices by 5-7 pe

As per Govt-appointed board of directors, soon eight to ten subsidiaries of Infrastructure Leasing and Financial Services Ltd (IL&FS) will go up for sale, as the committee is searching a turnaround scheme for the group through the sale of some companies. Secretary in the Ministry of Corporate Affairs, Injeti Srinivas said that the planned sale of two entities made earlier this month was overwhelming. This indicates a revival of IL&FS group through the sale of some group’s entities which are not able to service debt. Srinivas told reporters during the FICCI’s conference on the bankruptcy code, “I understand that expressions of interest for another 8-10 companies will be called for shortly. We are well into the process of the sale of subsidiaries as going concerns and (we) will ensure maximum possi

State-owned oil companies are planning to allot about 65,000 petrol pumps across the country ahead of 2019 general elections in order to expand the existing retail network to double. An advertisement was issued by  Bharat Petroleum Corp Ltd (BPCL), Hindustan Petroleum Corp Ltd (HPCL) and Indian Oil Corp (IOC) on Sunday for setting up 55,649 petrol pumps across the country. HPCL’s state-level coordinator Vishal Bajpai told reporters that any sites in poll-bound states (Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram) are not included. Advertisement for sites in these states would be issued after polling is completed. IOC is planning to add 26,982 more petrol pumps, BPCL is eyeing on adding 15,802 outlets whereas HPCL will add 12,865 petrol pumps in states that are not going to polls. across