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Oppo Given Green Clearance to Set Up Manufacturing Unit in Noida

Chinese smartphone maker Oppo has been given green clearance to set up a mobile manufacturing unit in Greater Noida at a cost of Rs. 2,200 crores, a senior government official said. The Union Environment Ministry has granted the environment clearance to its Indian subsidiary Oppo Mobiles India Pvt Ltd for the proposed project. “The clearance has been given to the Oppo’s project after taking into account the views of an expert green panel. It is subject to compliance of certain conditions,” the government official said. The environment clearance certificate has already been…

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Blow for Reliance Communications as wireless unit merger with Aircel collapses

Embattled telecom company Reliance Communications Ltd faced another setback on Sunday after a deal to merge its wireless business with smaller rival Aircel was called off, raising fresh doubts around its debt restructuring plans. The company, widely known as RCom, said it had agreed with Aircel to call off the proposed deal due to regulatory delays and legal uncertainties. RCom has been trying to reduce its debt by 250 billion rupees by merging its wireless business with Aircel and by selling a stake in its mobile masts arm to a unit of…

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Alkem Labs Jumps 5%; Gujarat Unit Gets USFDA Nod

Mumbai: Shares of Alkem Labs today went up by over 5 per cent after the company said one of its manufacturing plants in Gujarat has obtained establishment approval from US health regulator USFDA. The stock climbed 4.91 per cent to Rs 1,377.75 on BSE. On NSE, it soared 5.16 per cent to Rs 1,379. “Its manufacturing plant at Mandva, Gujarat, has successfully obtained the Establishment Inspection Report from the USFDA. The plant manufactures Active Pharmaceutical Ingredients (APIs) and was inspected by the USFDA in September 2015,” Alkem Labs said in a…

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