Granules India’s Unit V facility located at Anakapally has received a clean chit from the US Food and Drug Administration (USFDA) with zero Form 483 observations. This is a significant achievement for the pharmaceutical company, as it demonstrates their commitment to maintaining high-quality standards in their manufacturing processes.
In other news, ISMT Limited has secured two contracts from Oil and Natural Gas Corporation (ONGC) to supply products worth ₹343.72 crore. This deal is expected to boost the company’s revenue and strengthen its position in the market.
Rail Vikas Nigam Limited (RVNL) has been awarded a Letter of Acceptance (LoA) worth ₹95.95 crore for a new line project of Araria – Galgalia of N.F. railway. This project is a step towards enhancing the railway infrastructure in the region.
Mphasis, a leading IT solutions provider, has signed a multi-year global strategic collaboration agreement with Amazon Web Services (AWS). This partnership is aimed at driving innovation and delivering enhanced services to customers.
Varun Beverages has announced the commencement of commercial production of carbonated soft drinks and energy drinks at its facility in Gorakhpur. This move is expected to cater to the growing demand for these beverages in the market.
Lemon Tree Hotels has unveiled a new property, A Lemon Tree Resort, in Chitwan, Nepal. This expansion is in line with the company’s strategy to grow its presence in key tourist destinations.
On the international front, the US has imposed sanctions on the use of Russian metals on exchanges, impacting the metal stocks market. This development is likely to have ripple effects on the global economy.
In a bid to meet the summer electricity demand, the Indian government has invoked section 11 of the Electricity Act to operationalize gas-based power plants. Companies like GAIL, Petronet, NTPC, and GIPCL are expected to play a key role in this initiative.
Adani Cement, a subsidiary of Ambuja and ACC, is eyeing a 16% growth and aims to achieve a capacity of 140 million tonnes per year by 2028. This expansion plan reflects the company’s ambitious growth strategy in the cement sector.
Overall, these developments across various sectors indicate a dynamic and evolving business landscape in India and globally.
