Alembic Pharmaceuticals receives USFDA Tentative Approval for Dronedarone Tablets USP, 400 mg.
Alembic Pharmaceuticals Limited (Alembic) today announced that it has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Dronedarone Tablets USP, 400 mg. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Multaq Tablets, 400 mg, of Sanofi-Aventis U.S: LLC (SanofiAventis). Dronedarone is indicated to reduce, the risk of hospitalization for atria) fibrillation in patients in sinus rhythm with a history of paroxysmal or persistent atrial fibrillation.
Dronedarone Tablets USP, 400 mg have an estimated market size of US$ 500 million for twelve months ending September 2021 according to IQVIA. Alembic has settled the case with Sanofi-Aventis and will launch its generic as per the terms of settlement.
Alembic has received year to date (YTD) 19 approvals (13 final approvals and 6 tentative approvals) and a cumulative total of 158 ANDA approvals (136 final approvals arid 22 tentative approvals) from USFDA.
Anupam Rasayan signs LOI worth $95 million with Multinational Crop Protection Company
Anupam Rasayan (NSE, BSE: ANURAS), one of India’s leading custom synthesis & speciality chemical players, has signed a Letter of Intent (LOI) worth $95 million (₹ 700 crores as per the current exchange rate) with one of the top ten multinational crop protection company for supplying a new life science related active ingredient. The company will enter into a long-term contract to supply this life science related speciality chemical product for the next five years. This new molecule is in addition to the existing product portfolio with this customer.
Speaking about the letter, Anand Desai, Managing Director of Anupam Rasayan, said, “We are very pleased to announce that this LOI is in line with our strategy of value re-engineering to manufacture high-value products for medium to large volumes and with the supply spanning over five years shows the confidence customers are reposing in Anupam Rasayan’s multifaceted capability and this LOI further expands our high-value product portfolio with major global players. This is one more feather in Anupam’s cap as in this financial year till date we have signed LOIs worth ₹ 1,800 crores and contracts worth ₹ 820 crores; taking the total contracts/LOIs signed in this financial year to ₹ 2,620 crores. These orders demonstrate firm revenue visibility for growth in the coming years through the commercialisation of new molecules.”
The speciality chemicals major is manufacturing products for over 66 domestic and international customers, including 23 multinational companies. The company has a long history of high customer retention and have been manufacturing products for select customers for over a decade. The company caters to a diverse base of Indian and global customers.
Edelweiss partners with Indian Bank for Co-Lending to the Priority Sector
Edelweiss Housing Finance Limited (EHFL) and ECL Finance Limited (ECLF), today announced a strategic co-lending agreement for Priority Sector Lending with Indian Bank, one of the largest public sector banks in the country. The lenders recently signed a MoU under RBI’s CLM, significantly expanding the portfolio of lending products available to the target customers, increasing their access to credit.
The alliance aims to leverage the combined strengths of the partners to make a winning proposition for all stakeholders including customers. Indian Bank brings capital flows at low costs, which when combined with Edelweiss’ expertise on customer acquisition, credit assessment, servicing and robust technology, will help meet the expanding credit needs of customers. This will expand the reach to underserved markets, enabling Priority Sector borrowers to get credit at lower costs, given the blended rate of interest. As the country gradually moves out of the pandemic, the credit offered through this partnership will provide customers with access to cost effective capital, aiding their economic revival and growth.
Speaking on the development, Deepak Mittal, Head, Edelweiss Credit Cluster said, “We are happy to partner with a reputed institution like Indian Bank to provide easier access to credit to customers from the priority sector. We believe that revival is possible only by making credit available to this vital contributor of the Indian economy. As we step up lending, delivering a digitally enhanced experience to customers, this co-lending partnership ties into our strategy of being asset light and building a high-quality lending book along with our partner Bank”
With this alliance, Edelweiss and Indian Bank, aim to create a conducive lending environment and democratise access to credit, channelizing much needed liquidity to those who need it the most.
Another Milestone achieved by Garment Mantra in its Growth Journey Opening of 14" Store at Raipur, Chhattisgarh as part of our ‘100 store Journey’ at PAN India Level
GMLL has opened its integrated model in Raipur to cover the 300 kms belt in Chhattisgarh, Orrisa and M.P. It will cater to the Poorti “The Wholesale Hub’, Garment Mantra with in-house brands and Flavor of Price Mantra B2C stores to spread the franchises in the peripheral of Raipur. GMLL has a strategic partner with a very prominent textile business house having strong experience and presence in Chhattisgarh from past 3 decades. GMLL has definite plans to create Tirupur like models in selective clusters of India, GMLL will be serving the customers with a lower turnaround time at the very same price in their respective clusters.
Commenting on the Milestone, Mr. Prem Aggarwal, Chairman & Managing Director, Garment Mantra Lifestyle said
“We are happy to announce the launch of integrated model in Raipur, Chhattisgarh.
It’s our 14” Location from where we will operate the “Price Mantra”, this will help us to reach our target to 100 stores at Pan India Level. We will require investment of approx. Rs. 1000 Mn. to reach the desired target and the planned investment we will rope in the Company through internal accruals, debt funding and try to bring strategic investors in the company by issuing equity or other instruments.
Coming up on this new Store, we are working on our endeavor to engage more partners from the central Indian region, with optimized and economical fulfillment solutions. This new location will improve the region's access to inventory and enhance the services we offer customers.
We firmly believe that this facility will be one of the most important milestones in the business history as we see ourselves expanding our operational footprints beyond Tirupur, Tamil Nadu, we envisage that we promote and uplift the business experience with all our business engagement partners and customers. GMLL performed market research and survey and it turned out positive to kick off the facility at Raipur Location, upcoming summer months from MidFebruary till July end is the most ideal period to make a mark.
Our loud responsible vision is to ramp up a very large number of Price Mantra Store model in the coming 2 to 3 years across tier 2 and 3 towns of India and this is our first large remarkable initiative in this exercise.”
GTPL partners with Aprecomm to bring Innovation to Customer Experience with Network Intelligence
GTPL Hathway Limited (GTPL), one of the largest Multi‐Service Operator (MSO) in India with Cable TV Distribution and high‐speed Broadband service distribution, today announced an investment in innovative technology to remotely optimise its residential Wi‐Fi connections through a partnership with Aprecomm. The unique A.I. technology will help GTPL bring down the customer issue resolution time and enhance the customer experience on its network of more than 700K connected broadband households.
Aprecomm’s A.I. Engine allows GTPL to convert its Household connections to A.I. enabled Smart WiFi access points. Additionally, the technology offers proactive monitoring and measuring of the Wireless Experience of the connected devices and provides real‐time insights to improve the reliability and performance of the network.
Speaking on the development, Mr. Anirudhsinh Jadeja, Managing Director, GTPL Hathway, said, “GTPL believes in continuous investments in technology to keep innovating and enhance the consumers’ delight. The partnership with Aprecomm will aid us in our efforts to ensure the best experience for our broadband consumers with a faster and proactive resolution of potential issues.” Pramod Gummaraj, CEO, Aprecomm, said, “We are delighted to collaborate with GTPL and bring the latest technology into their network which can assist them with up to 50% reduction in customer support handling time and phenomenal improvement to the customer experience. We are looking forward to bringing more innovation in the Network Automation in the coming months.”
The measurable improvements offered by the integration between GTPL and Aprecomm also lead to lower maintenance costs and improved customer satisfaction for one of the country’s fastest growing ISPs.
“With Aprecomm’s vendor agnostic technology, GTPL is now able to manage and monitor ONUs through a unified interface, ensuring assured internet experience to their customers.”,said Guharajan Sivakumar, CTO, Aprecomm
“We have already started deploying this technology and could measure the customer experience with ease and take proactive actions to improve it. Aprecomm’s technology immensely helps us to achieve Network Automation.”, said Mr. Guru Prasad V, CTO, GTPL Hathway Ltd.
JBM Auto arm acquires 51% stake in JBM Green Energy Private Limited to increase localisation of e-vehicle batteries & aggregates
JBM Auto Limited, India’s leading automotive company (BSE: 532605 & NSE Code: JBMA), has announced the acquisition of 51% stake in JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited through its subsidiary JBM Electric Vehicles Private Limited. Post this stake acquisition, JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited have become the indirect subsidiary companies of JBM Auto Limited.
JBM Green Energy is engaged in manufacturing complete lithium-ion battery packs for electric vehicles, thereby working towards setting new benchmarks of localisation for manufacturing of electric vehicles as outlined in various government policy initiatives. With the same objective of enhancing indigenization, JBM EV Industries manufactures key aggregates and auto systems for electric vehicles.
Commenting on the stake acquisition, Mr. Nishant Arya, Vice Chairman & MD, JBM Auto Limited, said, “This stake acquisition is a true testimony to the fact that JBM Auto is committed towards its mission of commissioning the end-to-end e-mobility ecosystem completely localised in India. As a Company, we started working towards this mission since the announcement of FAME 1 and have, since then, developed synergies between our various businesses in critical e-mobility domains such as electric buses, battery technology, charging infrastructure and other aggregates”.
“With a long-term commitment towards zero emission technologies, JBM is consistently creating value for all stakeholders with every upcoming opportunity in the EV domain. We already have more than 25 local vendors for different EV products across India. With the apt support from the government to the sector in the form of various policies, we are at the right cusp of consolidating all our synergies to provide a one stop e-mobility solution. We have already deployed our e-mobility platform solution in various states of India that has been tailored to provide optimum cost of ownership to the customer”, Mr. Arya further added.
JBM Auto’s 100% electric buses ECOLIFE have been already operating in various states such as Karnataka, Gujarat, Delhi-NCR region, Maharashtra, Andaman & Nicobar, etc. Infact, the recent flag-off of JBM ECOLIFE electric buses in Karnataka marks the first ever rollout of electric buses in the state. The Company provides complete e-mobility ecosystem right from electric vehicles, charging infra, power infra to maintenance and support, thereby, providing optimum value to its customers.
JBM Auto Limited had registered a 22.74% increase in net profit to Rs. 25.19 crore in Q2FY22 as compared to Rs. 20.52 crore in Q2FY21. Sales including other operating income stood at Rs. 752.72 crore compared to Rs. 517.35 crore in Q2FY21, an increase of 45.50%. The Company recorded a profit before tax of Rs 42.14 crore in Q2FY22 as compared to Rs. 31.51 crore in the second quarter in the previous year, an increase of 33.74%.
RST lndustries Limited (RSTIL. stepdown subsidiarv of RSTLI is setting up a facilitv of 20.000 MT per annum in Nigeria, West Africa to produce Roofing sheets.
RSTIL has already commenced the expansion exercise for setting up the proposed facility in Nigeria, the expansion is expected to be completed in two tranches and will be fully operational by August 2022 and expects to operate at full capacity by Q3 of FY23. This additional capacity is mainly aimed at expanding our current rep.ertoire of SKUs to include Roofing Sheets. The total capital outlay for this expansion will be INR -200 MN and will be funded through a mix of internal accruals and partially through debt.
Commenting on the announcemenl, Mr. Richi Bonsol, Executive Director of Rdmo Steel Tubes Limited said, "/t gives us immense pleasure to announce that we dre exponding and setting up o focility to meet'the high demond of the Roofing sheets in Nigeria. We alwoys had the vision to become one of the leoding compony in building materiol products and solutions ond this milestone is definitely one omong the few business strategic pipeline of plons. We hove o very strong hold ond presence in the region of western Africo from the post 5 yeors. This capocity of 20,000 MTPA will add significontly to our subsidiary's top line. We ore olso happy to stote that we have a strongly growing order book for these new SKUs ond expect it to grow further. This olso tokes us one step ohead in our competition and further elevates our performonce benchmark to the next level.
We humbly would like to express our grotitude to all our stokeholders for olwoys encompossing confidence in RSTL"
RST lndustries Ltd. (RST|L, stepdown subsidiarv of RSTLI inks exclusive arrangement for supplv of specialitv steel SKU's in Nigeria. West Africa.
RSTIL takes pride in having a strong track record of being associated with many prestigious projects in Nigeria. Keeping up with our vision to cater the large scale infrastructure projects in the country, RSTIL has now sigrled a new annual contract with Huihai Group Ltd, Hong Kong for procuring 15,000 mtpa with an exclusive arrangement for Nigeria. This contract has exclusive arrangement with RSTL specifically for procurement and supply of 15,000 MT per annum of specialized steel SKUs in Nigeria and these supplies will further strengthen RSTIL's order book and credibility in the mark.
Commenting on the announcement, Mr. Richi Bansal, Executive Director, Rama SteelTubes Limited, said "Ihe Controct is on exclusive arrongement for only Nigerian region and the totol market size for these speciolized steel in Nigerio is -50,000 MT per annum. Eventually, we ore expecting to grow our morket shore in the coming yedrs ond olso these SKUs are highly margin occretive, which definitely would be strengthening the blended morgin profile. These controcts will help us in strengthening our position in the region by executing similar engogements in the coming yeors. We envisage this os a strotegic drive optimizing our market shore, product mix ond revenue drivers which will eventuolly strengthen and grow our consolidated performance. We ossure oll our stakeholders to commit similor"endeovors in the coming times which shall odd to our business synergies and profile."
RBL Bank Collaborates with Google to Advance Next Generation Customer Experience
RBL Bank and Google today announced a strategic collaboration to fuel the Bank’s customer experience strategy and expand its value proposition to serve its rapidly growing customer base through its digital platform, Abacus 2.0. This collaboration will enable better customer data management, and analytics, enabling effective cross-selling within the Bank’s large customer base and subsequently reducing the cost of customer acquisition, significantly. Through Abacus 2.0, the Bank aims to provide a superior and holistic one stop solution to its existing and new customers, to seamlessly deliver its different product offerings across channels.
RBL Bank currently has over 4 million urban retail asset and liability customers with a business goal to grow this base to 12-14 million over the next three years. To achieve this, RBL Bank will leverage Google Cloud’s secure and scalable infrastructure for seamless customer on-boarding. It will also be the technology foundation for a powerful product-agnostic customer acquisition engine that delivers more inclusive access to multiple products such as payments, deposits, insurance, credit card, investments, secured loans and more.
Working together, RBL Bank will also enhance its customer acquisition and product promotion using various digital solutions that Google offers across digital channels.
“This is an important strategic milestone in our digital journey. Advancing our innovation agenda and building an optimized and agile data platform to serve our existing and prospective customers is one of our critical business priorities. Working with Google, we will augment our customer targeting with solutions such as Google Ads, and explore co-innovation opportunities with platforms like Google Pay to drive user engagement and build new digital offerings,” said Surinder Chawla, Head Branch and Business Banking, RBL Bank.
Leveraging Google Cloud’s local infrastructure shall help RBL Bank to scale its platform and services and meet local regulatory and compliance requirements.
Bikram Bedi, Country Head of Google Cloud in India said, “Cloud technologies enable banks to offer their customers a fast, secure and intuitive experience. We are thrilled to help RBL Bank advance their digital roadmap and harness the power of the vast solutions Google has to offer to create and deliver valuable new services to their rapidly growing customer base.”
TCS’ Innovative Industry Solutions Win Two IoT Global Awards
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) won two awards at the Internet of Things (IoT) Global Awards 2021 for TCS DigiFleet™ in the Automotive, Transport and Travel category and TCS Smart Store solutions in the Retail, Marketing and Hospitality category.
The IoT Global Awards honor the most innovative companies, products, and individual talent. TCS’ solutions won the awards for their scalability, innovativeness, as well as business return on investment delivered to customers.
TCS’ products and solutions are built on its Bringing Life to Things™ IoT business framework that leverages machine learning and artificial intelligence technologies to help enterprises address critical business challenges and help create a sustainable and equitable world.
TCS DigiFleet is an IoT-enabled SaaS that assimilates telematics and environmental data to provide real-time impactful business insights about fleet and freights. It enhances visibility across the supply chain, improves operational efficiency of their logistics on the move, as well as helps them achieve their sustainability goals. The solution’s modules include:
a. dPulse: Increases fleet reliability and utilization, helping reduce fuel and maintenance costs and
driving sustainability strategies.
b. dMove: Predicts supply chain disruptions in a multi-modal, multi-carrier network. It provides insights
and unified visibility on route optimization, parcel condition and ETA prediction.
TCS Smart Store is an AI-based image and video analytics solution that leverages sensor fusion-based infrastructure and contextual algorithms to provide real-time alerts and analytics. The solution enablessmart and self-aware store operations and elevates in-store customer experience. Use cases include retail shrinkage, AI-driven stock replenishment, and AI-based sales improvement.
“Our IoT solutions built our Bringing Life to Things framework combine physical context with digital intelligence to unlock exponential business value. TCS DigiFleet makes supply chain operations more resilient and TCS Smart Store elevates instore experience for customers in new normal. We are pleased to win two IoT Global Awards 2021 for these innovative solutions,” said Regu Ayyaswamy, Global Head, IoT & Digital Engineering, TCS.
TCS offers a comprehensive portfolio of IoT services spanning strategy and consulting services, implementation, technical and business integration services, and post deployment managed services. With its deep contextual knowledge and engineering expertise, TCS supports enterprise-wide transformations across industries like manufacturing, consumer packaged goods, retail, energy, utilities, transportation, logistics, healthcare, hi-tech and telecom. recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 528,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com