The Mumbai police were on high alert after an X user @ffsfir wrote a post about the potential threat which reads like "My mind is wondering shamelessly that half the world would go upside down tomorrow after a bomb went off at the Ambani wedding. trillions of dollars in one pin code."
Benchmark BSE Sensex declined for the fourth day in a row on Wednesday due to selling in financial and banking shares and the government's move to hike securities transaction tax and short term capital gains tax. The 30-share BSE Sensex declined 280.16 points or 0.35 per cent to settle at 80,148.88 with 19 of its components closing lower and 11 with gains. During the day, it tumbled 678.53 points or 0.84 per cent to 79,750.51.
The government on Thursday rolled out the internship programme on a pilot basis that will provide a total annual financial assistance of Rs 66,000 to those in the age group of 21-24 years, and aim to cover one crore youth over five years.
Among the 30 Sensex companies, JSW Steel, Tata Steel, Axis Bank, Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank and Asian Paints were among the biggest gainers. In contrast, Mahindra & Mahindra, Sun Pharma, NTPC, Wipro, State Bank of India and Power Grid were among the laggards.
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.
'That is a significant milestone for us and something we aspired for.'
FDC drugs are those which contain a combination of two or more active pharmaceutical ingredients in a fixed ratio and are also referred to as 'cocktail' drugs.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
'As the markets are expected to remain jittery in the near term, we advise investors to use this opportunity to enter quality largecaps from a long-term perspective.'
Benchmark Sensex rose by 443 points to close at a new record high while Nifty settled above the 24,100 mark on Monday on buying in banking and IT shares in line with gains in Asian and European markets. The 30-share BSE Sensex settled higher by 443.46 points or 0.56 per cent at an all-time high of 79,476.19.
Bulk of the medicine sales in the $22-24 billion domestic pharma market happens through offline retail chemists. With the entry of online pharmacies, this space has started to witness a shake-up. Sample this: Dawaa Dost, a Rajasthan based digital health start-up, generates medicine orders from 'kirana' stores and women self-help groups (SHGs) that operate in villages, and then service these orders through its affiliated network of pharmacies. Biddano, another health-tech start-up, has a platform that acts as an aggregator for neighbourhood chemist shops.
The Centre is considering a proposal on increasing coverage under the Ayushman Bharat scheme to Rs 10 lakh from the current Rs 5 lakh.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
With the government asking the companies to operate with only 50 per cent staff strength, and exports dipping to almost zero, the truck and bus drivers idling at the petrol pump say they hardly have any work now. At a petrol pump on the deserted Bavla-Changodar highway near Ahmedabad in Gujarat, several trucks and buses are neatly parked in a row.
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
Among the 30 Sensex companies, Mahindra & Mahindra, Power Grid, Sun Pharma, Nestle, UltraTech Cement, NTPC, ITC, ICICI Bank, Titan, Bajaj Finserv, Bharti Airtel, and HDFC Bank were among the biggest gainers. IndusInd Bank, Adani Ports, Tata Steel, Reliance Industries, Axis Bank and Bajaj Finance were among the laggards.
Among the 30 Sensex companies, Tech Mahindra, HCL Technologies, State Bank of India, NTPC, Infosys, Larsen & Toubro, Tata Consultancy Services and Wipro emerged as the biggest gainers. Hindustan Unilever, Asian Paints, Mahindra & Mahindra, Nestle, IndusInd Bank and Sun Pharma were among the laggards.
Indian drug firms get a shot in the arm in the $12 bn Australian drug market as the Therapeutic Goods Administration (TGA), Australia agrees to accelerate the drug approval process in that country for Indian players who already have an approved plant and product from one of the stringent regulatory authorities like US, EU or Canada. From current sales of $340 mn, the Indian firms can see a significant upside in sales; felt Dinesh Dua, former chairman of the Pharmaceutical Exports Promotion Council of India (Pharmexcil), and the MD of Nectar Lifesciences. He highlighted that only 12 percent of the Australian drug market is generic, as against 80-90 per cent in the US or EU. Of this $1.5 bn generic drug market in India, Indian companies have a small share.
NTPC, JSW Steel, Tata Motors, Bharti Airtel, Power Grid, Kotak Mahindra Bank and Tech Mahindra were also among the major gainers. Larsen & Toubro, Sun Pharma, Nestle, HDFC Bank and Maruti were among the laggards.
A sharp rise can be attributed to the significant changes in India's share buyback tax regime, which will come into effect from October 1, 2024.
Among the Sensex firms, Tata Motors, Tata Consultancy Services, IndusInd Bank, Power Grid, Bharti Airtel, Sun Pharma, JSW Steel and Tata Steel were the major gainers. On the other hand, Bajaj Finance, State Bank of India, Bajaj Finserv, Axis Bank and NTPC were among the laggards.
After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
The Indian pharma industry is estimated to grow at 9-11 per cent in 2021-22 and in the next few quarters, it will be driven by domestic and emerging markets, according to ratings agency ICRA. In a sample of 21 Indian pharmaceutical companies, ICRA said revenue growth was moderate at 6.4 per cent in the second quarter of FY22, down from 16 per cent in the first quarter of 2021-22. The normalisation of the base and pricing pressures in the US market were the major reasons for slowing growth momentum in Q2 FY22, even as growth under domestic and emerging markets remained healthy, ICRA said in a statement.
Apollo HealthCo Ltd (AHL), a subsidiary of Apollo Hospitals Enterprise (AHEL), on Friday entered into a binding agreement to raise equity capital of Rs 2,475 crore from Advent International (Advent), one of the world's largest private equity (PE) players. The transaction will also see the merger of two units under Apollo Healthco - its wholesale pharma distribution unit Keimed Pvt Ltd and online healthcare business Apollo 24'7. The merger will take place in a phased manner over the next 24-30 months.
Rising penetration of trade generic medicines is eating into the value growth of the domestic pharmaceutical market, showed a recent analysis. According to a Kotak Institutional Equities analysis, 70-110 basis points (bps) annual dent is expected from trade generics and Jan Aushadhi on Indian Pharma Market (IPM) growth at least until FY27-28 (see chart). Trade generic medicines are those that are not pushed into the market through doctor promotions.
Communications between the USTR and the world's most powerful pharmaceutical and trade lobbying groups reveal that many raised concerns about India's push to exempt Covid vaccines from intellectual property.
From rising prescriptions to the pharma sales force back on the field with full vigour and companies finally finding their feet with the digital marketing strategies - Indian drug makers have shown that medicine sales is certainly a sunshine sector.
From the Sensex basket, Mahindra & Mahindra, Larsen & Toubro, JSW Steel, NTPC, IndusInd Bank, Sun Pharma, UltraTech Cement, State Bank of India, Reliance Industries, and Maruti were the major gainers. Nestle, Tata Consultancy Services, Axis Bank, ICICI Bank, Bajaj Finance, ITC, and Asian Paints were among the laggards.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
Infosys will comply with whatever regulations and guidelines Karnataka comes up with, a top company official said on Thursday on the proposed reservations for locals in private firms in the state. Infosys employs over 3.15 lakh people at present across the globe. "We are planning to work with all the regulations of the state and central governments.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
To burnish production-linked incentive (PLI) schemes, the government is considering an overhaul of some of them relating to sectors such as textiles and pharma, and making incentive payments quarterly, officials in the know said. In a bid to cut the delay in processing incentive claims, the government is looking at switching to a quarterly disbursement of incentives. Currently, in most schemes, incentives are annual.
Once tipped to emerge as the biggest exporter, the pharmaceutical industry is yet to acquire the scale of those in software services, says Krishna Kant.
Apollo Hospitals Enterprise (APH) delivered an in-line performance for the April-June quarter of the financial year 2024-2025 (Q1FY25)with growth in the number of patients. AHLL (Apollo Health & Lifestyle), a subsidiary, posted sales growth and profitability. APH also reduced operational costs at Healthco.
From the Sensex firms, Power Grid, NTPC, Tech Mahindra, Bharti Airtel, Tata Motors, IndusInd Bank, Reliance Industries, Kotak Mahindra Bank and Maruti were among the laggards. Asian Paints, Wipro, JSW Steel, Hindustan Unilever, Bajaj Finserv and Mahindra & Mahindra were among the biggest gainers.
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra and UltraTech Cement were among the gainers.
'SRK couldn't have been nicer, empathetic, more sharing and interactive. It really was a wonderful moment.'
From the Sensex basket, Bharti Airtel, Nestle, Maruti, Tata Motors, HCL Technologies, NTPC, Asian Paints and State Bank of India were the major gainers. Sun Pharma, Reliance Industries, Mahindra & Mahindra, JSW Steel, Tech Mahindra and Bajaj Finance were among the laggards.
With intermittent disruptions in the supply chain of raw materials from China, the Indian pharma industry has braced itself with bigger inventory. Even smaller drug makers are now carrying a month of buffer stock of key raw materials, said industry insiders. The lockdown in various Chinese provinces, including Shanghai, is likely to delay shipments by two weeks to a month, said domestic players. Shipments are critical for the Indian drug industry, which imports 70 per cent of its raw material from China.
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