Traction for its specialty portfolio, a strong showing in the domestic market, and better regulatory compliance are positives for the country's largest pharmaceutical (pharma) company, Sun Pharmaceutical Industries. Given the triggers, some brokerages have increased their earnings per share estimates and target price for 2024-25 (FY25). This should sustain the momentum for the stock, which has been one of the major pharma gainers in 2023-24 (FY24), rising 57 per cent. It is currently trading at Rs 1,547 per share.
'The whole narrative will change from TV is dying to TV-plus-digital is the future.'
The GoC said the security forces have also recovered a huge quantity of narcotics which establishes a deep nexus between defence establishments in Pakistan and terrorist groups.
Security forces killed five heavily armed foreign terrorists along the Line of Control (LoC) in Kupwara district of Jammu and Kashmir on Friday and said it was the "biggest" infiltration bid to have been foiled since 2021, when India and Pakistan effected a ceasefire understanding.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Based on Statista data for 2019, Vodafone has 17.2 million subscribers in the UK, 29.5 million in Germany, and over 13.7 million in Spain. Without Voda Idea, the Group will become smaller than Airtel and Jio.
Two terrorists were killed in an encounter as security forces foiled an infiltration bid in Jammu and Kashmir's Kupwara district on Wednesday, officials said.
Briefing reporters at his office, Army Day Parade Commander Major General Salil Seth said, "Artificial Intelligence is being used for the first time to identify the best marching contingent. As you know all the marching contingents do drills and do drills correctly."
With all of the heavy lifting we have done over the past few years, I am confident that we are now well positioned to build on the Tata Group's unique legacy to steer the 21st century towards a more sustainable, connected, inclusive and efficient future: Chandra in email to staff.
Following the insertion of Corus Group on Tata Group's balance sheet, global credit rating agency Moody's has downgraded Tata Steel Ltd's corporate family rating from investment to speculative.
The partnership will initially focus on the Future Group fashion brands.
Naveen Patnaik is known as an "absentee landlord" who needs bureaucrats like Pandian to run his government.
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
'I believe that as we produce more, our cost will come down further. We will maintain our competitiveness.'
This is an exceptional case of extension beyond the 330-day limit under the insolvency and bankruptcy code.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
Jeetega Bharat has selected 125 Lok Sabha seats across the country where it will assist the Opposition alliance.
Top commanders of the Indian Army deliberated on the Russia-Ukraine war and Israel-Hamas conflict at a five-day conclave to draw relevant lessons besides focusing on ways to make the force 'future ready' in line with with emerging contours of threats and challenges.
Private players continued to show strong momentum in the life insurance individual new business segment during August, 2023. On an aggregate, the industry registered 14 per cent growth year-on-year (Y-o-Y) compared to 15 per cent in July '23. Private players were up 21 per cent Y-o-Y, up from 16 per cent Y-o-Y in July '23, while public insurers' growth was muted at 3 per cent.
Fortis Healthcare on Thursday said it has inked a pact with the VPS Group to acquire Manesar-based Medeor Hospital for Rs 225 crore. The healthcare major said it has signed definitive agreements to acquire Medeor Hospital for an overall purchase consideration of Rs 225 crore. The hospital has a potential capacity of 350 beds and can be operationalised in a phased manner in around nine months, it added.
'The two sides agree to continue firmly supporting each other in safeguarding their respective core interests,' a joint statement issued at the end of Muizzu's talks with Chinese leaders said.
A self-styled divisional commander of the Hizbul Mujahideen was killed along with his bodyguard as security forces foiled an infiltration attempt and a conspiracy by the proscribed outfit to revive its activities in Jammu and Kashmir's Poonch district early on Monday, officials said.
...followed by financial services, IT, and sales and marketing.
Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, the largest private-sector lender of the country, has just completed his first term. The period October 2020-October 2023 was a roller coaster, and the second one, which started on October 27, could be more interesting as the lender absorbs the impact of the merger of HDFC, which was integrated on July 1, and moves to the next growth phase. Soon after he took over the reins from Aditya Puri on October 27, 2020, the Reserve Bank of India (RBI) debarred HDFC Bank from enrolling new credit card customers and launching new products under the Digital 2.0 programme due to repeated outages on its mobile-banking and internet-banking platforms.
UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank's India employees a glimmer of hope. The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse's India unit and better synergies at key verticals, such as wealth management and investment banking. "UBS is a much stronger hand. Coming within its fold will give Credit Suisse's wealth management and investment banking divisions a good home.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
These issues were raised at the 5th India-UK home affairs dialogue held in New Delhi, the statement said.
No financial details were disclosed.
As part of the deradicalisation strategy, the army, with the cooperation of the Union Territory administration, has undertaken a series of initiatives.
These patents are primarily in the area of computation and data processing.
The "asset-right" strategy, reiterated by ITC chairman Sanjiv Puri during the company's 112th annual general meeting (AGM) on August 11, received a thumbs up from the analysts. They, however, believe that sustained earnings growth and synergies with the demerged hotel's vertical will help the stock break out from the ongoing consolidation. "The stock is expected to consolidate between Rs 420 and Rs 450 in the near future.
With over 700,000 annual passengers and 21 per cent market share Air India is the largest carrier on India-United Kingdom routes.
Additional security personnel have been deployed on the ground and drones are being used for aerial surveillance, they said.
Mumbai Indians elevate Jayawardene, Zaheer to new central roles
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