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Weekly News: India's wholesale price inflation eased unexpectedly in September - IndiaNotes.com
Weekly News: India's wholesale price inflation eased unexpectedly in September
SMC | Published: 23 Oct, 2017  | Source : IndiaNotes.com

Economy


India's wholesale price inflation eased unexpectedly in September, after accelerating in the previous two months, data from the Ministry of Commerce & Industry. Wholesale prices climbed 2.60 percent year-overyear in September, slower than the 3.24 percent in August. Economists had expected the inflation to rise slightly to 3.3 percent.


Pharmaceuticals


- Aurobindo Pharma has received final approval from the US health regulator to manufacture Esomeprazole Magnesium delayed-release capsules, used in treatment of frequent heartburn, in the US market.


- Zydus Cadila has received approval from the US health regulator to market Doxazosin tablets, used for treatment of high blood pressure and urinary retention associated with enlargement of the prostate gland.


- AstraZeneca Pharma has received marketing authorisation from the Drug Controller General of India (DCGI) for Xigduo XR tablets used in treatment of adults with type 2 diabetes in India. The product is indicated as an adjunct therapy to diet and exercise to improve glycemic control in adults with type 2 diabetes.


Chemicals


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UPL has committed investment worth Rs 6,000 crore for an agro-chemical and intermediate facility in Dahej. As per its MoU, UPL will create direct and indirect jobs for 10,000 people at the plant, for which the state government will provide a 600,000 square foot plot in GIDC.


IT


- Tata Consultancy Services (TCS) has bagged a contract in Odisha to implement the Odisha Secretariat Workflow Automation System (OSWAS) recently for cutting down on cumbersome paper work. The contract is valued at Rs 40 crore.


Oil & Gas


- Reliance Industries along with partner BP Plc, has submitted a $1.4- billion plan to produce 7 million cubic metres a day of natural gas from KGD6 deep-sea fields in the Bay of Bengal. The company will develop the “satellite fields” — D2, D6, D19 and D22 —in the gas-rich block along with two nearby gas fields D29 and D30, according to the field development plan submitted to the government.


Metals


- Nalco is planning to set up two joint ventures - one with US-based Almex and another with Russia's Rusal - at the upcoming Angul Aluminium Park in Odisha. The two JVs will manufacture special-grade aluminium to be used in metro trains, e-vehicles, aerospace and automobile sector.


- Hindalco Industries Ltd has firmed up plans to expand the capacity of its downstream mill at Hirakund in western Odisha. The facility makes flat-rolled products (FRP) and will see an investment of Rs 4,000 crore for ramping up capacity from 1,35,000 tonnes per annum now to 3,75,000 tonnes.


Miscellaneous


- Snowman Logistics bagged an exclusive deal from IKEA, the global home furnishing retail major, to manage backend operations of its in-store restaurants business in India.


- Grasim Industries Limited signed a memorandum of understanding (MoU) worth Rs 4,100 crore for setting up two man-made fibre plants at Vilayat GIDC and Kharach-Kosamba in Bharuch district.


- Arvind Limited signed one MoU worth Rs 300 crore for an apparel manufacturing facility at Dahegam that would produce 24 million garments per annum.

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