Gold, forex assets, IT sector, pharma. Devangshu Datta explains why each of these is a good hedge against market shocks at this time.
This unprecedented rate could attract more global companies to enter the domestic drug market, thus triggering more buyouts of Indian companies by multinational drug makers, said industry experts.
'Indian doctors have also been wary of patients learning about drugs and brand names.' 'Probably harking back to the Brahmanical tradition of preserving information and knowledge from getting polluted by the lower classes,' says Ambi Parameswaran.
Charging the multinational companies with making several drugs beyond the reach of the poor, visiting Commerce Minister Anand Sharma today asserted it is the Indian generics which have challenged such a "suffocating stranglehold" and made the medicines affordable.
India has received over USD 20 billion in FDI amid the coronavirus pandemic, Foreign Secretary Harsh Vardhan Shringla said on Tuesday, showcasing the country as one of the most attractive destinations for investment globally.
The S&P BSE 500 index, which accounts for 94% market capitalisation of BSE listed companies, has gained 45% from its March 24 low. However, out of the BSE 500 index stocks, 225 have underperformed the index by gaining less than the broader index during this period.
The rupee fell to a two-year low of 64.84 against the US dollar.
India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
SBI plunged over 3% after posting a 34.57% fall in net profit to Rs 2,538 crore for the quarter ended September 2016 on rise in provisions for non-performing loans.
A Union environment ministry's expert appraisal panel felt that the project proponent, CPL Infrastructure Pvt Ltd, a subsidiary of Cadila Pharmaceuticals Ltd, had failed to give requisite details for the proposed park in Dhandhuka Taluka in Ahmedabad.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for vaccine. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for vaccine," said an article on the 'state of economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles.
Top officers across various ministries participate in the meeting that started at 8 pm on Saturday. The meeting is currently underway. The country is currently witnessing a second and more severe wave of the pandemic.
Dilip S Shanghvi reminisces about Anji Reddy.
Big global pharmaceutical firms seeking to buy into prominent Indian generic players is, in fact, a vindication of the Indian pharmaceutical story which began with the decision by Indira Gandhi to rein in the cost of medicines and allow process and not product patents.
Employees in the pharmaceutical sector can expect an average pay hike of 13 per cent in the 2010-11 fiscal amid robust business growth in the space, according to HR services provider Ma Foi Randstad.
Online grocery platform BigBasket is looking at hiring 10,000 people for its warehouses and last-mile delivery to clear pending orders quickly and meet the spike in orders on account of the nationwide lockdown. "We are looking to hire 10,000 people for our warehouses and last-mile delivery. This hiring will happen across all 26 cities that we are present in," bigbasket Vice President-Human Resources Tanuja Tewari told PTI.
The cities where services have resumed include Bengaluru, Mysore, Pune, Ludhiana, Noida, Gurugram, Raipur, Lucknow, Hyderabad, Kolkata, Ahmedabad and Mumbai. Industry experts believe it would be at least 4-5 days before the backlog of orders can be cleared.
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
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India Inc raised various issues to increase trade flows in sectors like pharmaceuticals, banking, energy and infrastructure
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
RIL is grappling with other priorities -- sliding oil prices, shrinking refining margins and a battle with the Anil Ambani group over the supply of gas. The plan was to build an integrated pharma company in two to three years, on the lines of large domestic majors such as Ranbaxy's or Dr Reddy's Laboratories. Instead, the plan has been modified to being a start-up bulk drug manufacturing company that will launch six bulk drugs or active pharmaceutical ingredients by 2010.
The Clinical Research sector is emerging as an attractive option for science graduates, doctors, management/ IT professionals, alike.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
The founders of Gland Pharma, led by Ravi Penmetsa, and KKR, together own 96 per cent of the company.
Cadila, Biocon developing rapid antibody testing kits; Eris, Mylan, Gland importing. There are two kinds of testing for the novel coronavirus - the real-time polymerase chain reaction test kit that uses throat or nasal swabs and provides results in a few hours, and the other is antibody-based rapid testing kit that use blood samples and provides results in a few minutes.
'The ban on Chinese imports is a suicidal step.' 'This will result not only in economic depression, but in a chaotic situation.'
IIP growth rises to 9-month high of 4.3 pc in August
Overall slowdown in the economy and growing volumes of unbranded generic medicines in the domestic market are behind poor sales.
As India's drug majors in this segment increasingly trip on American standards, increasing the scrutiny on their practices, their counterparts look up there.
'This pandemic has given him a new platform to perform,' says a member of the government. 'He should feel lucky that he has got an opportunity now to demonstrate to the world his original talent.' 'He needs a visionary script to perform.' Sheela Bhatt reports on the politics of the pandemic.
'India is a pharma dada. We can manufacture enough for our people and for the world.'
Amneal Pharmaceuticals is set to pip Sun Pharma as the fifth largest generics maker in the US, reports Sohini Das.
Considering the huge investments required in the Indian Healthcare sector, both for domestic and to take care of rising medical tourism from global markets.
Mobile phones, televisions, refrigerators, laptops and stationary items will be allowed to be sold through e-commerce platforms like Amazon, Flipkart and Snapdeal from April 20 during the lockdown, officials said on Thursday. The clarification from a senior home ministry official came a day after Union home secretary Ajay Bhalla issued revised guidelines for the extended lockdown period till May 3.
Sector-wise, pharmaceuticals, transport equipment and textiles will help accelerate overall export growth.
The Governor also said she would like to take delegations from India to South Carolina to encourage investment.
Even as India continues on the priority watch list of the Office of the US Trade Representative, strong voices from Washington, DC, have spoken out in favour of India, reports Aziz Haniffa/Rediff.com.
TV visuals showed the giant crane falling on the ground with a loud thud.
