Editor's Desk

The company has received approvals for its three investigational new drugs (INDs). These INDs are used in the treatment of chronic obstructive pulmonary disease (COPD), dyslipidemia and artherosclerosis and associated cardiovascular diseases. The pharma major has also announced that it will merge its Drug Discovery operations with its wholly owned subsidiary Aurigene, effective from July … Read more Dr Reddys advances on approvals for INDs

The board of the state-owned, Punjab National Bank (PNB) has decided to offload a 26% stake in its housing arm, PNB Housing Finance in favor of M/S Dawnay Day. The bank currently holds total 100% in the unit. Apart from this the board has also decided to apply to Reserve Bank of India (RBI) for … Read more PNB to offload part of its stake in housing finance unit

The Tata Group is re-entering the home finance business after a gap of six years with Tata Capital Housing Finance, a wholly owned subsidiary of Tata Capital, getting the certificate of registration from the National Housing Bank to begin business as a housing finance company. The new company is planning to offer both fixed and … Read more Tata Capital Housing ventures into housing finance business

Thousands of gazetted executives of state owned Mahangar Telephone Nigam (MTNL) struck work for the second day rejecting the management’s offer of a pay revision with 5% fitment benefit. The Class I and Class II officials are demanding for a 30% fitment in the new pay scales with housing rent allowance (HRA) approved by the … Read more MTNL services disrupted in Delhi, Mumbai due to strike

Unitech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 18, 2009, inter alia, has approved the following proposals subject to the requisite approvals: 1. Raising of additional long-terms funds through issuance of further securities in the Company. 2. Issuance of Warrants in the Company to … Read more Unitech – Warrants for promoters + Long Term Funds

Essar Shipping Ports and Logistics (ESPL) may be delisted in coming days as the promoters are believed to be looking at acquiring the stake of minority shareholders and further delist the company. Though there is no official comment available from the company, a person familiar with the development said that the promoters may raise around … Read more Essar Shipping likely to be delisted