The government told the Supreme Court on Tuesday that it may take two more weeks to notify the National Pharma Pricing Policy. It said a final decision has been taken on the drug pricing policy, which has been cleared by the Cabinet, and a notification on the matter would follow shortly. The govt told the SC that the policy would have to be tabled before Parliament to meet statutory requirements, as Parliament is in session.
RIL overtakes TCS as most-valued company
Reliance Industries on Tuesday became the country's most valued company, pushing IT major TCS to second spot in the domestic market capitalisation chart. With a market value of R2,54,377 crore at close of trade, energy giant RIL surpassed TCS's market capitalisation of R2,53,479 crore. Shares of RIL were up 1.66% at R786.20 on the BSE at end of trade, while TCS shares settled with a mild gain of 0.23% at R1,295.10.
Belarus in talks with India, China on potash giant
Belarus is in talks with companies from China, India, Europe and the Arab world on selling a minority stake in potash giant Belaruskali, but will not drop its $30-32 billion valuation, president Alexander Lukashenko said. Russia's Uralkali has long coveted a controlling stake in Belaruskali, which accounts for 15% of the world potash market.
Reliance Globalcom partners with Ciena Corp
Reliance Globalcom has partnered with Ciena Corporation, under which it has selected Ciena's optical 100G networking solutions to upgrade its FLAG Europe-Asia submarine network. The upgrade will allow Reliance Globalcom to support the surge of high-bandwidth applications like cloud computing, video conferencing, business continuity/disaster-recovery, data centre connectivity, and storage area networking, besides increasing Internet traffic.
Green nod for Rpowers third coal block
Reliance Power's Sasan ultra mega power project has bagged forest clearance for its Chhatrasal coal block following recommendation of a ministerial panel. The statutory approval for the block was held up as it fell in a 'no-go area' demarcated by the environment ministry earlier.
Railway body celebrates IRAS Day
The Indian Railway Accounts Service (IRAS) celebrated its first ever IRAS Day last Saturday, which coincided with the month in which the Acworth Committee was announced in 1920. On the recommendation of the committee, the Railway finances were separated from the general finances and led to the subsequent formation of the IRAS.
Dell SonicWALL names new country sales head
Dell SonicWALL has appointed Amit Singh as the regional sales manager to lead its business operations in India. Singh will be responsible for leading sales, marketing and business operations of India throughout the enterprise, government and mid-market sectors.