A strong performance in the July-September quarter of 2023-24 (Q2FY24), an upward revision in the margin guidance and sustained momentum in US sales has helped the stock of pharmaceutical major Cipla gain about 2 per cent over the last two trading sessions. The brokerages have upgraded the earnings estimates for this financial year (FY24) by 6-9 per cent to factor in the improved margin guidance and sales in the US market. Led by the US market, which rose by 31 per cent, the company posted a 16 per cent growth in revenues.
Since the start of this financial year (FY24), the stock of Aurobindo Pharma has been one of the top pharma gainers, enhancing investor wealth by over 68 per cent, with a third of those gains coming in the last three months. The stock is riding on multiple triggers given its investments in the production-linked incentive or PLI scheme, biosimilars, injectables and vaccines, which should drive revenues and profits over the medium term. Better than expected performance after the June quarter results led to a revision of earnings estimates for FY24 and FY25.
The FIR was registered against Deshmukh and some unidentified persons on April 24 this year on charges of corruption and misconduct following a preliminary inquiry that the CBI conducted in compliance with the high court's order.
The Supreme Court on Wednesday dismissed a plea by former Maharashtra home minister Anil Deshmukh seeking to quash the FIR lodged against him by the Central Bureau of Investigation in a corruption case.
The bench was hearing a petition filed by the NCP leader challenging the FIR registered by the CBI on April 24 on charges of corruption and misuse of official position. The FIR was lodged after the agency carried out a preliminary enquiry pursuant to directions from the high court.
A division bench of Justices S S Shinde and M S Karnik said they will pass the order at the earliest, without giving any date.
Australia looked on course for a total in the range of 250 in the 40th over before India's spinners took charge. The Jason Sangha-led side lost its last six wickets for 33 runs and was dismissed in 47.2 overs.
"I thought why not the son of a person who had contributed for Maharashtra should become the CM and I insisted Uddhav Thackeray to become the chief minister. Fadnavis had worked with Uddhav so he knows how Uddhav is. He should stop questioning repeatedly about how Uddhav became CM," the NCP chief said.
With a fourth crown, India also surpassed Australia in the race of most U-19 World Cup titles. Prior to the final, India and Australia were locked at three titles each.
Unstoppable thus far, India are hoping to rewrite the record books with a fourth title when the Rahul Dravid-coached side squares off against an equally formidable Australia in the final of the ICC Under-19 World Cup, in Maunganui, New Zealand, on Saturday.
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The rupee tumbled past 63.00 to the dollar, down about 2 per cent on the day and breaching the previous low of 62.03 hit on Friday despite a spate of measures in recent weeks by the central bank and government to defend it.
The Forbes 30 Under 30 list is harder to get into than Stanford or Harvard University. Meet the desis who made the cut this year.
