Ahmedabad-based Nirma group and leading private equity firms have joined the race to acquire BSE-listed Glenmark Life Sciences. The acquisition by chemicals-to-cement major Nirma, if successful, would be a major boost for the health-care segment of the group, on the lines of its successful entry into the cement sector following its purchase of Lafarge India's assets for about Rs 9,400 crore in July 2016. It later followed up by buying Emami cement assets for Rs 5,500 crore in February 2020.
The Indian economy is likely to post better than anticipated growth in the second quarter (July-September) owing to robust urban consumption and expansion in services, a Business Standard analysis of high-frequency indicators showed. While gross domestic product growth in the September quarter is expected to come below the 7.8 per cent print in the June quarter due to a favourable base fading, analysts say the print will be much closer to 7 per cent than the 6.5 per cent anticipated earlier. While the Reserve Bank of India (RBI) had estimated 6.5 per cent growth for July-September, last month Governor Shaktikanta Das said the growth figure would surprise on the upside.
Never a permanent fixture in England's one-day team due to his inconsistent form, batsman Ravi Bopara says he is aiming to cement his place by scoring big against the hapless Indian team in the ongoing five-match series.
Tilak Varma has hit just two fifties in 16 T20 Internationals.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
'In India we have a lot of superstar worship.' 'If we lose a match, but Tendulkar hits a century people are happy that their star did not let them down.' 'This should change. People should support the team and the sport and not individuals.'
Indian pace spearhead Zaheer Khan has said the upcoming tour to West Indies would be a good opportunity for the youngsters to cement their place in the national squad.
A higher-than-expected consumer price inflation (CPI) print for March in the US has dashed hopes of an interest rate cut by the US Federal Reserve (US Fed) in June. Analysts now expect the US central bank to start cutting rates in September, provided inflation remains in check and oil prices remain supportive. The markets, analysts believe, partially factored in this possibility.
Hong Kong has regained its spot as the world's fourth-largest market following a broad market rout in Indian equities. Currently, the Chinese territory's market capitalisation stands at $4.9 trillion versus India's $4.75 trillion, according to data compiled by Bloomberg. In January, the domestic equity markets' market capitalisation had surpassed that of Hong Kong following a spectacular rally in the small- and midcap stocks.
Richa-Ali go to Sundance...Sidharth feels at home in Delhi... Harshvardhan leads a van life...
Among the Sensex firms, Hindustan Unilever, Tech Mahindra, Infosys, Reliance Industries, Bajaj Finance, Tata Consultancy Services, Titan and UltraTech Cement were the major laggards. Mahindra & Mahindra, Power Grid, IndusInd Bank, Tata Motors, Larsen & Toubro and Maruti were among the gainers.
From the Sensex basket, Tata Consultancy Services, Nestle, Bajaj Finserv, Wipro, Maruti Suzuki India, Reliance Industries, Larsen & Toubro and NTPC were the major laggards. Tata Steel, Bajaj Finance, JSW Steel and Bharti Airtel were among the gainers.
Sanju Samson breathed a sigh of relief as he struck his maiden One Day International century during the third ODI against South Africa at the Boland Park stadium in Paarl on Thursday.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Mumbai Indians will look to extend their winning run and sneak into the top-four.
Nearly 90 per cent of the stocks comprising the National Stock Exchange Nifty 500 Index and 49 of the 50 stocks that make up the Nifty50 are trading above their respective 200-day moving averages (DMAs). The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally, while those trading below this level are viewed as bearish, with the stock/index expected to see a selloff.
Indian cricket captain Mahendra Singh Dhoni has offered to step down as Chennai Super Kings captain and vice-president of India Cements Limited. Dhoni believes that his name being dragged into the controversy has spoilt his image, and that only solution is for him to quit from both posts.
Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
Both Putin and Zelenskyy have invited the prime minister to visit Russia and Ukraine respectively after the Lok Sabha elections, sources said, adding they see Modi as a "peacemaker".
'I'd like to probably err on the side of preparing him through red ball. We know how good a white-ball player he is so you put a priority on what it looks like next summer.'
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
Indian pharmaceutical firms foresee minimal disruptions in trade with Israel despite escalating regional tensions. Rising crude prices and export shipping insurance premiums have raised concerns, but the pharmaceutical sector remains optimistic. Pharmaceutical exports from India to Israel in FY 2020-21 amounted to $32.5 million, which represents only a minor segment of India's overall pharma exports.
'The biggest festival of democracy is here! EC has announced the 2024 Lok Sabha election dates. We, the BJP-NDA, are fully prepared for elections'
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
Not only wickets, but records tumbled as India clinched a seven-wicket win over South Africa.
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
The best part of Yashasvi Jaiswal's entertaining unbeaten 76 was the manner in which he completely unsettled England's troika of spinners, India's left-arm slow bowler Axar Patel reckoned after opening day's play in the first Test.
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
The 21-year-old had limited opportunity to showcase his skills in the last edition, but this time Kolkata Knight Riders coach Brendon McCullum has already given the opener's slot to him.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
Virat Kohli wants Rishabh Pant to 'show his credentials' in Dhoni's absence.
Prime Minister Narendra Modi on Friday received Bhutan's highest civilian award, the 'Order of the Druk Gyalpo', making him the first foreign Head of the Government to receive the honour.
'Our factories are world-class and are becoming increasingly attractive for our global business leaders to use to serve other markets.'
Rohit Sharma is happy to start the South African tour by shaping India's win over the hosts in the one-off Twenty20 international and sees the upcoming ODI series as an opportunity to cement his place in the side.
Prime Minister Narendra Modi on Wednesday inaugurated Abu Dhabi's first Hindu stone temple amid devotional chants and in the presence of spiritual leaders of the Swaminarayan sect.
Wipro was the biggest loser among Sensex firms, sliding 2.32 per cent, followed by HDFC Bank, Power Grid, UltraTech Cement, ITC, ICICI Bank and Tata Motors. IndusInd Bank, Maruti, State Bank of India, Mahindra & Mahindra, Asian Paints and Bajaj Finserv were among the gainers.
Just like in last year's ICC World Test Championship Final and the ICC Men's Cricket World Cup final, India and Australia are set to clash in the showpiece finale of another landmark ICC tournament, this time at the ICC U19 Men's World Cup 2024 in South Africa on Sunday.
