The 2025 contraction marks the steepest decline in both the number of billionaire promoters and their aggregate wealth since 2012.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
India's largest drug maker Sun Pharmaceutical on Thursday posted a decline of 19 per cent year-on-year (Y-o-Y) for its consolidated net profit for the fourth quarter of the financial year 2025 (Q4FY25) at Rs 2,149.8 crore. Meanwhile, its revenue from operations rose by 8 per cent at Rs 12,958.8 crore.
Sun Pharmaceutical Industries stock ended 2.15 per cent higher on Friday after zooming by almost 5 per cent in the morning trade on the back of an announcement that a court ruling has cleared the deck for the India's largest pharmaceutical company to launch its alopecia drug Leqselvi in the United States.
India now has 284 billionaires, 13 more than last year, maintaining its position as the third-largest dollar-billionaire hub globally, after the US and China.
Indian pharmaceutical companies may have units abroad as part of "distributed manufacturing" across various locations, according to industry veterans. This may come about over the next five to 10 years.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
Mukesh Ambani, accompanied by younger son Anant and younger daughter-in-law Radhika Merchant Ambani, were among the many celebrities who attended Devendra Fadnavis' swearing in at Azad Maidan on Thursday afternoon.
As on July 31, the valuation of his shareholding in the company stood at Rs 9,830 crore.
Telenor Financial Services, IDFC Bank and Sun Pharma's Dilip Shanghvi have decided to withdraw their licence to set up a payments bank.
The collective wealth of the 100 richest went past $1 trillion for the first time.
Shanghvi needs to deploy this excess cash.
The Halol facility is important for the company as it accounts for 10 per cent of Sun Pharma's sales.
Sun Pharma stock has appreciated at 35% a year for 20 years
People close to Shanghvi reveal he is known to make surprising moves both inside and outside the pharma industry.
Shanghvi founded Sun Pharmaceuticals in 1983 with five psychiatry products and a marketing team of just two persons.
Dilip Shanghvi has never tried to be everything to everybody.
Mukehs Ambani, KLakshmi Mittal, Azim Premji features in top ten rich Indians list.
Sun Pharma expects synergy benefits by next fiscal.
Aespite an enviable track record, Sun Pharma's MD has always been modest about his achievements.
Recouping the dent caused by the Hindenburg Research report, Gautam Adani's networth shot up 95 per cent to Rs 11.6 lakh crore last year, which helped him replace Mukesh Ambani to become the richest Indian, a report said on Thursday. Reliance Industries chairman and managing director Ambani's overall networth increased by 25 per cent to Rs 10.14 lakh crore, as per the 2024 Hurun India Rich List. In 2023's report, Adani's wealth declined by 57 per cent to Rs 4.74 lakh crore, and Ambani was way ahead with a fortune of Rs 8.08 lakh crore.
Eight others, including Bajaj Auto Managing Director Rajiv Bajaj and Tractor & Farm Equipment Chairman Mallika Srinivasan, received awards across categories at an award ceremony attended by over 350 people in New Delhi on Monday.
For Sun Pharma, it is an astute purchase that it hopes will not only boost its position in India but also globally.
The company sold over 21 crore (210 million) shares in Sun Pharma.
Dilip Shanghvi's Sun Oil & Natural Gas, signed a deal for the transfer of Interlink Petroleum's interest in the Modhera and Baola fields.
Dilip Shanghvi founded Sun Pharma in 1983.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
Oil-to-telecom conglomerate Reliance Industries Ltd head Mukesh Ambani continues to be the richest Indian and has now broken into the world's top 10 wealthiest persons in the latest Forbes 2024 Billionaire List. Ambani, 66, is ranked 9th on the list with a wealth of $116 billion, up from $83.4 billion in the 2023 ranking, according to Forbes. Gautam Adani is the second richest Indian and is ranked at No.17 on the global list.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
He said Sun Pharmaceutical will continue in manufacturing , infrastructure as well in Research and Development
'The focus for value creation will be on all business segments.'
Mukesh Ambani has reclaimed the top position on the 2023 Forbes list of India's 100 Richest with a net worth of $92 billion. The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India's richest person for the first time last year, has slipped to the second position. Adani's net worth, which includes that of his family, fell by a whopping $82 billion to $68 billion, after a report by US short-seller Hindenburg Research in January sent his group's shares tumbling.
Mukesh Ambani has raced ahead of Gautam Adani to become the richest Indian on a list of wealthiest people in the country. The 66-year-old chairman of the diversified Reliance Industries saw his wealth growing by a marginal 2 per cent to Rs 8.08 lakh crore, while Adani's fortune plummeted by 57 per cent to Rs 4.74 lakh crore, as per the 360 ONE Wealth Hurun India Rich List 2023. Anas Rahman Junaid, managing director and chief researcher at Hurun, attributed the decline in Adani's wealth to the Hindenburg report published in January. In January,
The IPO boom in 2023 added four new promoters to the billionaires' list.
Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firm's profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premji's compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. "Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr Rishad A. Premji," said the company in the filing.
Among the many exits from the billionaire's club in 2022 are D Uday Kumar Reddy of Tanla Solutions (net worth down 66 per cent), Sushil Kanubhai Shah of Metropolis Healthcare (down 65.7 per cent), Vijay Shekhar Sharma of One97 Communications (down 66 per cent), and C K Birla (down 43.4 per cent).
Not much is heard or read about Sun Pharma's media-shy owner.
Amitabh: "There is a very famous limerick that aptly describes my presence tonight, ladies and gentleman: A funny young man from Clyde In a funeral carriage was spied; When asked, "Who is dead?" He giggled and said, "I don't know; I just came for the ride."
One hundred and forty nine new individuals joined the rich list club of 1,103 Indians across 122 cities who cumulatively accumulated a wealth of Rs 100 trillion. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery application Zepto is the youngest self-made and the youngest rich individual, according to IIFL Wealth Hurun India Rich List 2022. The report found 1,103 Indians with a networth of Rs 1,000 crore each - an increase of 62 per cent over five years. There are 221 billionaires (Rs 100 crore networth) in India on the 2022 list - down 16 compared with last year, while 13 people born in the 1990s made it to the list, all self-made.
These two are now among India's most valuable business houses, ahead of older and more diversified groups, such as the Bajaj, OP Jindal, Anil Ambani, UB, Godrej and Hinduja.
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