May 17, 2022 10:10 AM IST

Fuel Prices on May 17: Check out petrol, diesel rates in Mumbai, Delhi and other cities

According to a price notification from fuel retailers, petrol in Delhi costs Rs 105.41 a litre and diesel Rs 96.67

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Takeda Pharmaceutical Co launches hemophilia drug Adynovate

Adynovate is an innovative extended half-life recombinant Factor VIII (rFVIII) treatment, using established technology for hemophilia A patients. It offers effective bleed resolution with closer-to-zero spontaneous bleed in majority, better joint health and reduces infusion frequency and associated pain, the company said in a statement.

Biological E. cuts price of its COVID-19 vaccine to Rs 250 per dose

Previously, in private vaccination centres the overall cost to end users of the vaccine was Rs 990 a dose, including taxes and administration charges, it added.

ATF price hiked by 5.3%, 10th increase this year

The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 6,188.25 per kilolitre, or 5.29 per cent, to Rs 1,23,039.71 per kl (Rs 123 per litre) in the national capital, according to a price notification of state-owned fuel retailers.

Holcim to use proceeds from India sale on lower carbon acquisitions

Holcim agreed to sell its Indian business to Adani Group for 6.4 billion Swiss francs ($6.38 billion), its largest divestment in years, as it seeks to lower its carbon profile and raise funds for takeovers.

SBI hikes lending rate by 0.1%, EMIs to go up

The revision follows an off-cycle rate increase by the Reserve Bank earlier this month. The central bank hiked the repo rate -- at which it lends short term money to banks -- by 0.40 per cent to 4.40 per cent. The lending rate revision by SBI (State Bank of India) is likely to be followed by other banks in the days to come.

Paytm Mall announces pivot to ONDC as its primary focus; to explore export opportunities

This move enables the company to create a long-term sustainable business in partnership with ONDC, which aims to democratize the purchase and sale of goods in the Indian market, driving transparency and digital independence for small businesses in the country.

Paytm to file for new license, says bullish about its roadmap for general insurance

In a regulatory filing, Paytm reiterated its intention to make inroads in the general insurance sector, as it is extremely bullish about its potential. Paytm said it remains bullish on its roadmap for general insurance, "and we intend to seek requisite approvals for a new general insurance license, wherein we hold a 74 per cent majority shareholding upfront."

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Tech Mahindra – Attractively valued with a great outlook

The strong outlook along with an undemanding valuation makes Tech Mahindra one of the best large-cap bets to ride on the strong technology upcycle

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Apollo makes $1 billion bet on Indian property with lending plan

That’s up from the $750 million that Apollo lent to Indian developers last year, with two-thirds of that sum directed to residential projects, according to Nipun Sahni, a partner at the private equity firm. About 70% of this year’s lending will go to home builders and the rest to commercial developers.

Jet Airways conducts first set of three proving flights

Proving flights is the last step for the airline to obtain the air operator certificate (AOC). The first of the three proving flights was conducted on the Delhi-Mumbai route, sources said.

Brookfield-backed PIL, GAIL sign initial pact for hydrogen collaboration

The MoU aims at collectively exploring the feasibility, desirability and viability of hydrogen as a source of energy and thus build a partnership between the companies, official sources said.

Spices maker Rakesh group net profit up 16% in FY'22 at Rs 39 crore; revenue up 19 pc to Rs 510 crore

In a statement, Rakesh group said its revenue increased 19 per cent to Rs 510 crore in the 2021-22 fiscal year, from Rs 427 crore in the preceding year. The company targets to double its revenue to Rs 1,000 crore by 2025, the statement added.

L&T bags order from Rajasthan govt

According to L&T’s project classification, the value of the order falls between Rs 1,000-2,500 crore.

Govt raises $2.7 billion as LIC prices IPO at Rs 949; listing next week

Life Insurance Corporation of India shares have been priced at 949 rupees each, the state-run firm said in a prospectus filed Friday. LIC shares were offered at 902 rupees to 949 rupees apiece. Trading on the stock exchange is due to begin May 17.

LIC Housing Finance ups home loan interest rate by 20 bps for select borrowers

For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a statement, adding that the revised rates are applicable from Friday.

Zipaworld Innovation plans to raise $0.5 million at $14 million valuation

The startup plans to harness the funds to mobilise and accelerate AI and ML-based logistics and supply chain services, anticipating market trends and risks as well as to support consequent research and development, among others, it said in a statement.

Zydus Lifesciences launches drug for treating bad cholesterol

Bemdac (Bempedoic acid) is a new class of drug which is orally administered and offers a new line of treatment for patients suffering from uncontrolled levels of LDL-Cholesterol (LDL-c) despite lifestyle modifications and the use of maximum tolerated dose of statins, which form the cornerstone of dyslipidemia management, the company said in a regulatory filing.

NHPC awards contracts for 1,000-MW solar project

NHPC Ltd has awarded EPC contracts for development of grid connected solar PV project (1,000 MW capacity) and transmission line for power evacuation to ISTS sub-station along with comprehensive operations and maintenance for 5 years under Tranche-III of CPSU Scheme Phase-11, it said.

Airtel, Jio drive telecom subscriber base to 116.6 crore in March

Bharti Airtel and Reliance Jio led new customer additions in both mobile telephony as well as fixed line services segment in March.

Increasing production capacity in India to start exporting devices this year: Vivo India

Vivo India director, business strategy, Paigam Danish told PTI that the company will make its flagship device Vivo X80 series also in India where it plans to increase annual production capacity to 60 million devices per annum by end of this year from 50 million in 2021.

Morning Scan: All the big stories to get you started for the day

A round-up of the biggest articles from newspapers