Anil Ambani's Reliance Infrastructure owned Reliance Defence, coming off from its ambitious joint venture with Dassault Aviation, is working to sign up more alliances to sell products for artillery, land systems and drone warfare. Reliance Defence has so far got into agreements with 30 firms in 11 countries, primarily joint ventures. The question remains though, whether the company, which is a new player in this space, can fulfill the many commitments it is getting into in different defence spaces, where it lacks expertise. 

Zydus Cadila has received final approval from the USFDA for flucanazole tablets, which are used to treat fungal infections. The company, which manufactures the formulations at Baddi, will now be able to sell their tablets in the US market. 

Stock in spotlight: Asian Paints, which has acquired Sri Lankan firm Causeway Paints in an all-cash deal. The company had reported revenues of approximately Rs 253.60 crore in the previous fiscal.

Photo of the day: A man rides a horse on the seashore in Mumbai. Shailesh Andrade/Reuters