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13-Sep2017

Infosys, Tata Motors and DLF to see some action today

Infosys will open its North Carolina Technology and Innovation Hub in Raleigh. This innovation Hub is expected to hire 2,000 American workers by 2021. Towards its plan of hiring 10,000 jobs over 2 years, the company has already hired close to 1,200 American workers. The new hub, which will open in early 2018, will occupy 60,000 square feet in a new facility in Raleigh and has the capacity to house 500 workers representing another step forward in the company's previous announcement to hire American workers in the country.

Tata Motors Group global wholesales in August 2017, including Jaguar Land Rover, stood at 94,201 units, higher by 9%, over August 2016. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in August 2017 were at 35,352 units, higher by 17%, over August 2016. Global wholesales of all passenger vehicles in August 2017 were at 58,858 units, higher by 5%, compared to August 2016. Global wholesales for Jaguar Land Rover were 44,420 vehicles. Jaguar wholesales for the month were 10,978 vehicles, while Land Rover wholesales for the month were 33,442 vehicles.

DLF has received the Environment Clearance (EC) for its Rs 240 crore commercial project which is to come up in Patto village, Goa. The company's proposal was first vetted by a green panel and based on its recommendations the Union Environment Ministry has given the final green clearance. The clearance has been given subject to certain conditions. The proposed commercial complex, to be constructed on a 18,120 square meter plot, would have eight small screen multiplexes for small gatherings and it will be the first of its kind in Goa.

Mindtree has opened its first international Digital Pumpkin innovation hub located within its Warren, NJ office. Building on the success of the original Digital Pumpkin at its global headquarters in Bangalore, India, the facility addresses the demand from Mindtree clients in the US for an interactive space where multi-disciplinary teams can ideate, design and craft meaningful digital experiences. Within the 16,000-square-foot Digital Pumpkin, businesses can build a culture of innovation by bringing together a multi-disciplinary team of experts from Mindtree and technology accelerators including partners such as start-ups with solutions that can benefit the company's clients.

Dr. Reddy's Laboratories' wholly owned subsidiary - Aurigene Discovery Technologies, is planning to initiate a Phase 2 trial of CA-170, a PDL1-VISTA inhibitor to be conducted at sites in India. This was announced following the presentation of preliminary data from the initial 34 patients with cancer treated in the dose escalation stage of the Phase 1 trial of CA-170 at the European Society for Medical Oncology (ESMO) 2017 Congress by Aurigene's collaborator and licensee of CA-170, Curis, Inc., a biotechnology company focused on the development and commercialization of innovative and effective therapeutics for the treatment of cancer. The trial has been conducted in the US, South Korea and Spain. The Phase 2 trial is the result of the initial safety data and preliminary evidence of clinical benefit observed in the trial.

Religare Enterprises has won shareholder's approval for its plan to use the proceeds of the sale of its health insurance business to repay Axis Bank's $70 million (Rs 450 crore) loan, dealing a setback for a group of lenders that wanted the promoters to clear the debt so that the company could retain the entire amount.


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