Author: NNI Editor

Lulu mall in Kukatpally of Hyderabad. File | Photo Credit: RAMAKRISHNA G Lulu Mall became owner of Manjeera Mall from where it began its operations as a tenant a few years ago. The National Company Law Tribunal (NCLT)-Hyderabad bench on Thursday (April 10, 2025) approved the resolution plan of Lulu International Shopping Malls to take over the Manjeera Mall located in Kukatpally area here.The Lulu Mall started its business operations from Manjeera Mall on a lease basis. With the management of Manjeera Mall, promoted by industrialist-turned BJP leader G. Yoganand, unable to repay the loans, its financial creditor claimed default…

As the world transitions toward electric mobility, Autonomous Driving , Advanced Driver Assistance Systems (ADAS), the Internet of Things (IoT), and sustainable production, the Indian automotive sector can emerge as a key player in the global value chain (GVC), according to a report by NITI Aayog. While the local automotive industry, having made significant strides to position India as the world’s fourth-largest automobile producer after China, the US and Japan, its share in the global traded auto component market remains modest at just 3% ($20 billion), reflecting untapped potential and underlying challenges, the report laments. “With a near-neutral trade balance and a cumulative cost disability…

Net inflows into equity mutual fund schemes in March declined 14.4% to ₹25,082 crore, amid global market shocks, data from the Association of Mutual Funds in India (AMFI) showed.The inflows have been declining for three consecutive months and was in the negative for half of fiscal year 2024-25.To a query on slowing equity inflows, AMFI’s chief executive Venkat Chalasani said, “Inflows have definitely come down slightly… from ₹29,303 crore during the month of February to ₹25,082 crore in March.”“Redeeming feature is that there is positive growth across all the schemes, except in respect of sectoral and thematic funds, where you…

Indian Overseas Bank has decided to reduce its repo-linked lending rate (RLLR) by 25 basis points from 9.10% to 8.85% effective April 12. This follows the Reserve Bank of India’s monetary policy committee reducing the policy repo rate from 6.25% to 6% earlier this week. The asset liability management committee of Indian Overseas Bank on Friday decided to pass on the rate cut to the customers by reducing RLLR, the Chennai-headquartered bank said. Published – April 11, 2025 09:29 pm IST Source link

An inhalers and derma products manufacturing plant of Aurobindo Pharma subsidiary Aurolife Pharma LLC in the U.S. has been issued 11 observations by the United States Food and Drug Administration. The U.S. FDA conducted an inspection at Raleigh plant, North Carolina, USA, owned by wholly owned step-down subsidiary Aurolife Pharma LLC from March 24 to April 10 and issued a Form 483 with 11 observations. These observations are procedural in nature. The development is not expected to have any material impact on the current business operations or existing supplies from the facility, Aurobindo Pharma said in a filing on Friday.…

Image used for representative purpose only. | Photo Credit: Reuters After three consecutive days of decline, the rupee on Friday made a strong recovery, gaining 58 paise against the U.S. dollar, and settling at 86.10 from its previous close of 86.68.The domestic currency was supported primarily by a weaker dollar index and a significant sentiment boost from the U.S.’s decision to pause tariffs for the next 90 days.“This move has been well received by the markets, as it opens the door for further dialogue between the two nations, potentially easing trade tensions in the near future,” said Jateen Trivedi, VP…

After three consecutive days of decline, the rupee on Friday made a strong recovery, gaining 58 paise against the U.S. dollar, and settling at 86.10 from its previous close of 86.68.The domestic currency was supported primarily by a weaker dollar index and a significant sentiment boost from the U.S.’s decision to pause tariffs for the next 90 days.“This move has been well received by the markets, as it opens the door for further dialogue between the two nations, potentially easing trade tensions in the near future,” said Jateen Trivedi, VP Research Analyst — Commodity and Currency, LKP Securities.Additionally, Indian capital…

Image used for representative purpose only. | Photo Credit: Reuters The Index of Industrial Production (IIP) grew at its slowest rate in six months, clocking a pace of 2.9% in March 2025, dragged down by decelerating growth across all sectors, according to data from the Ministry of Statistics and Programme Implementation. The IIP’s growth rate came in much lower than the 4% estimated by Reuters. “A combination of high base effects along with a slowing growth in mining and manufacturing sectors led to the growth falling in February 2025,” said Paras Jasrai, associate director at India Ratings and Research.Mining sector growth…

Amazon logo. Image used for representative purpose only. | Photo Credit: Reuters Amazon-backed More Retail, a key player in India’s food and staples market, plans to go public next year and double its store count in five as shoppers keep turning to supermarkets and online buying for daily groceries, a top executive told Reuters.Mumbai-based More, known for its neighbourhood supermarkets and fresh grocery offerings, operates one of the country’s largest retail chains, with 775 stores as of its latest count.The company reported gross sales of nearly ₹50 billion ($580.11 million) in fiscal 2025, an 11% rise from the previous year.”Market…

Cipla’s abbreviated new drug application for a generic version of Bristol Myers Squibb’s cancer drug Abraxane has received final approval from the U.S. Food and Drug Administration.The final approval for Paclitaxel Protein-bound Particles for Injectable Suspension (albumin-bound), 100 mg/vial, single-dose vial was received on April 10. It is an AB-rated generic therapeutic equivalent version of Bristol Myers Squibb’s Abraxane for Injectable Suspension 100 mg/vial. Cipla expects to launched the product in the U.S. by September. Protein-bound Paclitaxel is indicated for treatment of metastatic breast cancer, locally advanced or metastatic non-small cell lung cancer and metastatic adenocarcinoma of the pancreas, Cipla…