Nirma's tryst with the pharmaceutical space started in 2006 when it acquired the ailing Core Healthcare in a deal reported to be worth Rs 300 crore. The Ahmedabad-based manufacturer of intravenous fluids was subsequently renamed Nirlife. Pharma industry insiders say Nirma, which broke open the detergent market in the 1990s with low prices and massive advertising, tried an encore of the low-price strategy in pharma, but with mixed results.
Punita is the founder and managing partner, Pacific Paradigm Advisors
The International Financial Services Centre Authority (IFSCA) plans to operationalise the framework for direct listing of companies at International Financial Services Centre (IFSC) exchanges by the end of the year, said Chairperson K Rajaraman. He added that the amendments would be notified within three months. Further, the GIFT City regulator is also considering the launch of separate payments system regulations - similar to that of the real time gross settlement (RTGS) for banking within a few months.
Those who cannot bear significant downturns (as much as 40 per cent) or have a short horizon should exit entirely.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
ITC's move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor's concerns on the company's capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the hotels business, wherein ITC will hold a 40 per cent stake in the new entity, and the remaining 60 per cent will be held directly by shareholders. The scheme of arrangement shall be placed for approval of the Board at its next meeting to be convened on 14th August 2023.
The company, however, maintained that the appointment is 'interim' and shareholders approval would be sought next year to make it a full-time engagement.
The government said on Wednesday its 'job is done' in handling the crisis-ridden Satyam, which posted a standalone net profit of Rs 181 crore (Rs 1.81 billion) in October-December quarter, and the company board can decide on sending back the nominee directors. Following disclosure of accounting fraud by founder chairman of Satyam, B Ramalinga Raju, on January 7, the government superseded the board of the IT company and appointed its own nominees to run the company.
Foreign portfolio investors (FPIs) pumped in Rs 1.7 trillion into domestic stocks in 2023, one of the highest net inflows ever witnessed during a calendar year, of which 25 per cent went into the direct buying of stocks. Data provided by depository NSDL revealed that Rs 44,950 crore of the total FPI flows last year went into primary issuances. A large portion of the FPI investments through the stock exchange route went into block deals, thereby reducing the actual investments made via direct buying of stocks. Last year saw selldowns or block deals worth Rs 2 trillion.
Chairman A M Naik said H2 of 2020-21 will herald better economic and business activity in terms of tendering, good liquidity, as well as revival of labour and supply chains.
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
IT&T Ltd has informed BSE that the board of directors at its meeting have decided not to act on the resolution passed by the members of the company authorizing the board to issue maximum up to 30,00,000 equity shares.
Thomas Cook India Ltd has informed BSE that the Board of Directors at its meeting held today (January 16, 2003), taken on record, the appointed of Mr Stefan Pichler as a non-retiring Directors
According to The Wall Street Journal, Deutch joined Citi's board in 1996, after leading the Central Intelligence Agency.
'Seeing the characters you had conceived come alive, saying the lines you had written for them... or the actor giving it a totally different meaning from what you had originally thought... is unbelievable!' Sreebala K Menon tells Paresh C Palicha.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
The Ministry of Corporate Affairs has suggested that Satyam Computer deposit the salary of directors nominated to its board by the government after a multi-crore accounting fraud was exposed at the IT firm in the government treasury.
Jaguar Land Rover will continue to be managed independently.
Fintech companies believe that the impact of Reserve Bank of India's order last week on unsecured loans will be visible in six to 12 months and prompt them to diversify and strengthen their secured portfolio. Fintechs which source funds through banks or non-banking finance companies (NBFCs) are looking at quickly building their secured portfolio options to at least 40 per cent of their total portfolio. "Over the medium to long term, as part of our product strategy, we are evaluating secured products which can be enabled over a digital platform" said Yogi Sadana, the founder of Zype, a lending-focussed fintech.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
The bodies of Rakesh Kamal, 57, his wife, Teena, 54, and their 18-year-old daughter, Ariana, were found in their Dover mansion at about 7:30 p.m. Thursday, Norfolk District Attorney (DA) Michael Morrissey said.
The government on Tuesday moved the Company Law Board to remove the current directors of Maytas Infrastructure and Maytas Properties from their respective boards and declare them ineligible for appointment as directors of any other company. The CLB will consider the matter on February 24.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Infosys, Wipro may follow suit as investors eye a piece of the large cash kitty as growth slows.
Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises, is likely to seek a fresh forensic audit of the company after market regulator Sebi levelled fund diversion charges against Zee promoters, top lawyers said. The Sebi also barred Zee founder Subhash Chandra and its Chief Executive Officer (CEO) Puneet Goenka from holding any position as director. "As the Sebi has made fund diversion charges, which may change the nature of audited reports already filed, the acquirer (Sony) can seek a fresh forensic audit," said H P Ranina, a corporate lawyer.
Coruscant Tec, a leading mobile content and commerce provider announced on Monday that it has nominated Alex Kuruvilla
Mukherjee, 60, responsible for Asia, Africa, the CIS, mining, stainless and pipes and tubes, will retire on May 13, the date of the company's annual general meeting, a company release said. The board of directors will propose to the AGM of shareholders that he will be appointed as a non-executive member of the Company's Board of Directors effective from that date.
Indian-American venture capitalist Vinod Khosla will join the Board of Directors at mobile payment start-up Square, founded by Twitter chairman Jack Dorsey.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
Infosys Technologies will soon induct two of its top executives to its board, to fill the vacancies left by the resignations of human resources and administration director Mohandas Pai and co-founder K Dinesh.
Industry players said IT hiring was not as strong as it was in 2022. One reason is the high bench IT firms have due to earlier hiring.
As a major contributor to exports, the IT industry has greater responsibility to perform better in view of the huge Current Account Deficit facing India, said N R Narayana Murthy, whose appointment as Infosys Executive Chairman was ratified by shareholders on Saturday.
IT services exporter Patni Computer Systems Ltd has appointed Massachusetts Institute of Technology professor and business strategist Michael A Cusumano as an independent director on its board.
The role and responsibility of Anil Ambani as vice chairman and managing director of Reliance Industries appears to have become another source of acrimony between him and his elder brother Mukesh Ambani
More than 500 independent directors have resigned since January 1 this year.
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