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Business Economy


Alembic Pharmaceuticals raises INR 750 crores via QIP, issue subscribed by nearly 2x. Monarch Networth Capital Ltd banker to the issue

MUMBAI, India, Aug. 6, 2020 /PRNewswire/ -- Alembic Pharmaceuticals, a Vadodara headquartered company, is a leading manufacturer of pharmaceuticals with three business verticals -International generics (~58%), Domestic branded formulations (~31%) and APIs (~11%). They have three R&D centres, two formulations, three API facilities and are coming up with three new plants i.e. oncology oral solids & injectable, general injectable & ophthalmic and an oral solid plant.
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Alembic has continuously outperformed its listed peers on the back of its US business, which has grown 5x in the last 5 years. Alembic's impeccable compliance track record with the USFDA with no history of any Import Alerts or Warning letters for any of its plants, and its delivery track record with the distributors makes it a dependable partner in the US business. Significant investments in new capex initiatives (INR ~1500 crs) and in R&D (14% of revenue in FY20) are expected to start yielding dividends from FY22. These investments along with a sustained filing momentum of +25 ANDA per annum remain key levers for the US business growth.
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Schneider Electric announces investment in machine learning tools, data science

19 Sep 2020 | 10:13 PM

Mumbai, Sep 19 (UNI) Schneider Electric on Saturday announced the impact of a new multi-million dollar investment in machine learning tools and data science.

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KVIC’s firmness forces Flipkart, Amazon, Snapdeal to remove 160 fake Khadi products Online

19 Sep 2020 | 4:06 PM

New Delhi, Sep 19 (UNI) Khadi and Village Industries Commission’s (KVIC) firmness has forced e-commerce portals like Amazon, Flipkart, Snapdeal and others to remove over 160 web links selling products in the brand name of 'Khadi'.
In a statement on Saturday, the KVIC said that the development comes in wake of KVIC serving legal notices to over 1,000 firms using the brand name 'Khadi India' to sell their products and thus causing damage to its reputation and the loss of work to Khadi artisans.

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Bullion Market closing rates

19 Sep 2020 | 3:38 PM

Chennai, Sep 19(UNI) Following is the bullion markets
closing rate here today.

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Shanghai Electric Showcases Smart Energy Solution at China International Industrial Expo on Worlds Clean Up Day

19 Sep 2020 | 2:44 PM

SHANGHAI, Sept 19, 2020 /PRNewswire/ - Shanghai Electric gave a strong impression at the 22nd China International Industrial Expo (the "Shanghai Industrial Fair"), which took place during September 15-19 at the Shanghai National Convention and Exhibition Center. The company presented exhibitions on Smart City, Smart Energy, Intelligent Manufacturing, and Intelligent Transportation in line with the Fair's theme of "Intelligence, Interconnection - New Development of Enabling Industry."

This year, the Shanghai Industry Expo adopted a new mode of exhibition with "offline as the main and online as the supplement." The expos included nine different exhibition areas including CNC machine tools and metal processing, industrial automation, energy conservation and industrial support along with a new generation of information technology and applications.

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The Kozhikode Coir market

19 Sep 2020 | 2:42 PM

Kozhikode, Sep 19 (UNI) Following were the rates in the Kozhikode Coir market today per quintal,
Coir Koyilandi No 1 Rs 9, 100
No 2 Rs 8, 300
Beypore No 1 Rs 6, 500
NO 2 Rs 6, 000.

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