India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Mumbai, June 30: Drug-maker Sigachi Industries on Monday said that its pharma factory at Pashamylaram Phase-1 in Medak district would be shut for 90 days following extensive damage and loss of human life in the fire accident that broke out at the premises, the company informed stock exchanges. At the affected facility, the company manufactured microcrystalline cellulose, a refined fibrous plant material in powder form used in pharmaceuticals, cosmetics, and food production. Sigachi Industries is one of the largest manufacturers of microcrystalline cellulose worldwide. Following the fire accident, the company's stock price fell 15 per cent intraday to '47 per share and closed 11.58 per cent down at '48.79 on BSE. "In addition to the human impact, the incident also caused damage to certain ancillary equipment and civil structures within the facility. While the core manufacturing infrastructure has suffered damage, the operations at the plant will be temporarily paused for an estimated period of 90 days to facilitate replacement and restoration of affected equipment and structures," the company informed the stock exchanges. On the impact of the fire accident on its production capacity, the company said, "We operate three manufacturing facilities for microcrystalline cellulose (MCC), one of which is the Hyderabad unit where the incident occurred. This unit contributes approximately 6,000 MTPA out of our total operating capacity of 21,700 MTPA, with the balance production coming from our other two facilities located in Gujarat. The other two plants continue to operate normally, and efforts are being made to optimise production from those units during the interim period." "The Hyderabad facility is fully insured, and we are in the process of initiating the necessary claims as per standard procedures," the company said.
New Delhi, Jul 1 (PTI) Shares of pharmaceuticals firm Sigachi Industries Ltd fell nearly 6 per cent on Tuesday, extending their previous day's decline, after an explosion at its manufacturing facility in Telangana killed several people. The stock plunged 5.57 per cent to settle at Rs 46.07 on the BSE. During the day, it dropped 8.36 per cent to Rs 44.71. Also Read | Who Is PVN Madhav? Here's Everything You Need To Know About the Newly Appointed Andhra Pradesh BJP President. At the NSE, it fell by 5.76 per cent to end at Rs 45.95. Shares of Sigachi Industries Ltd had tanked over 11.50 per c ...Read More >
Raichur (Karnataka) [India], August 14: In a landmark moment for global hepatology and Indian pharmaceutical innovation, Shilpa Medicare Limited (BSE: 530661) (NSE: SHILPAMED) has secured the world first regulatory approval from India Central Drugs Standard Control Organization (CDSCO) for Nor Ursodeoxycholic Acid (NorUDCA) Tablets 500 mg, the first-ever approved therapy targeting NAFLD. * Shilpa Medicare emerges as the global pioneer to receive approval for NorUDCA, offering new hope to over a billion people affected by Non-Alcoholic Fatty Liver Disease (NAFLD) * NAFLD affects 1 in 4 people ...Read More >
New Delhi, Sep 26 (PTI) Pharma stocks fell in morning trade on Friday as investors grew concerned after US President Donald Trump announced import taxes of 100 per cent on branded and patented pharmaceutical drugs. Wockhardt Ltd tumbled 6.58 per cent, Natco Pharma tanked 5.46 per cent, Sun Pharma dropped 4.96 per cent, Indoco Remedies edged lower by 4.70 per cent, Glenmark Pharma fell by 2.88 per cent, Aurobindo Pharma 2.44 per cent and Dr Reddys dipped 2.31 per cent on the BSE. The BSE healthcare index dropped 1.39 per cent to 43,376.04. "Indian markets opened on a cautious note and weaken ...Read More >
CHENNAI: The Tamil Nadu government has cancelled the manufacturing licences of Sresan Pharmaceuticals, the Kancheepuram-based firm that produced the toxic batch of Coldrif cough syrups linked to the deaths of 14 children in Madhya Pradesh. Of the children who died, 11 were from Parasia sub-division, two from Chhindwara city and one from Chaurai tehsil. On Sunday, the Parasia police arrested a government doctor for alleged negligence and registered a case against Sresan Pharmaceuticals, officials said. State Minister for Health and Family Welfare Ma Subramanian said the State Drug Control dep ...Read More >
Seoul: South Korea's exports of bio-health products jumped 22.5 per cent in the third quarter from a year earlier, data showed on Friday, driven by growing demand for pharmaceutical goods in European nations. According to the Korea Health Industry Development Institute, outbound shipments of bio-health products, including pharmaceutical goods and cosmetics, amounted to $6.34 billion in the July-September period, compared with $5.17 billion recorded over the same period in 2023, Yonhap news agency. By sector, exports of pharmaceutical products jumped 43.5 per cent on-year to $2.38 billion, le ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Governor, was released soon after a cabinet meeting held on Monday. Hailing from Andhra Pradesh's Godav ...Read More >
Hyderabad: Two days after the deadly blast at its Pashamylaram plant, Sigachi Industries Ltd on Wednesday put deaths in the accident at 40, but some more employees were said to be still missing. Meanwhile, Telangana Fire Services Department said the factory did not obtain NOC (no objection certificate) from it. In a statement on Wednesday, the company which manufactures microcrystalline cellulose (MCC) powder used in pharmaceutical, food and other industries, announced an ex gratia payment of Rs 1 crore each to the kin of the deceased. Chief Minister A Revanth Reddy, who visited the accident ...Read More >
Mumbai, Sep 26 (PTI) Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent on Friday, marking their sixth consecutive day of decline, following heavy selling in pharma and IT shares as US President Donald Trump announced 100 per cent duties on pharmaceutical drugs from next month. The 30-share BSE Sensex tanked 733.22 points or 0.90 per cent to settle at a three-week low of 80,426.46. During the day, it dropped 827.27 points or 1 per cent to 80,332.41. The 50-share NSE Nifty tumbled 236.15 points or 0.95 per cent to an over three-week low of 24,654.70. The index has been on a de ...Read More >
For the month, FII sold equities worth Rs 30,141.68 crore, while DII bought equities worth Rs 55,736.09 crore. The broader indices broke a three-week gaining streak and underperformed the main indices as markets remained under pressure throughout the week on worries over fresh tariffs on pharma, higher visa fees by the US, persistent trade concerns, and continued FII selling. For the week, Nifty50 plunged 672.35 points or 2.65 percent to finish at 24,654.70, while the BSE Sensex index declined ...Read More >
Mumbai: Shares of Corona Remedies, a well-known pharmaceutical company, made an impressive entry into the stock market on Monday, December 15. The stock was listed on the National Stock Exchange (NSE) at Rs 1,470 per share, which is 38.42 percent higher than its IPO issue price of Rs 1,062. On the Bombay Stock Exchange (BSE), the shares opened at Rs 1,452, marking a gain of 36.72 percent over the issue price. This strong listing reflects the high demand and positive sentiment around the company ahead of its market debut. Big Gains for IPO Investors Investors who were allotted shares in the ...Read More >
New Delhi, Jun 30 (PTI) Torrent Pharmaceuticals expects the Rs 19,500-crore deal to acquire majority stake in Mumbai-based J B Chemicals and Pharmaceuticals to complete over the next 15-18 months. As per the deal, which is the second largest in the domestic pharmaceutical space behind Sun Pharma's 2015 acquisition of Ranbaxy, Torrent will acquire 46.39 per cent stake from promoters Tau Investment Holdings Pte Ltd (a unit of global investment firm) for about Rs 11,917 crore. It would additionally buy another 2.80 per cent from certain employees of JB Chemicals at the same acquisition price of ...Read More >
Srinagar, Jul 3 (PTI) The annual Amarnath Yatra began on Thursday with the first batches of pilgrims setting off from the twin base camps in Baltal and Nunwan towards the 3880-metre-high cave shrine in the south Kashmir Himalayas, which houses a naturally formed ice-lingam, officials said. The yatra started early morning from the twin tracks -- the traditional 48-km Nunwan-Pahalgam route and the 14-km Baltal route. The batches of pilgrims, including men, women and sadhus, left from the Nunwan base camp in Pahalgam, in south Kashmir's Anantnag, and Baltal base camp in Sonamarg area of central ...Read More >
Shimla (Himachal Pradesh) [India], September 26 (ANI): The Pharmaceutical companies and chemists in Shimla have begun implementing the revised GST night tariff on medicines, bringing much-needed relief to patients and the poor. Managers and pharmacy owners in the capital confirmed that the new reforms, effective as of September 22, have already reduced the prices of many essential and life-saving medications. Mahesh Bisht, Manager at a pharmaceutical company, explained the changes, "From September 22, the new GST reforms and tariffs have come into effect. Items that were earlier under the 12% ...Read More >
New Delhi, Dec 17 (PTI) Drug firm Granules India on Tuesday said its subsidiary has received approval from the US health regulator for a generic medication used to treat attention-deficit hyperactivity disorder. Granules Pharmaceuticals, Inc (GPI) has received approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Lisdexamfetamine Dimesylate chewable tablets, the drug firm said in a statement. The approved drug is available in multiple strengths; 10 mg, 20 mg, 30 mg, 40 mg, 50 mg, and 60 mg, it added. The company's product is the generic ...Read More >
Mumbai: Benchmark stock indices Sensex and Nifty tumbled nearly one per cent on Friday, marking their sixth consecutive day of decline, following heavy selling in pharma and IT shares as US President Donald Trump announced 100 per cent duties on branded drugs from next month. The 30-share BSE Sensex tanked 733.22 points or 0.90 per cent to settle at a three-week low of 80,426.46. During the day, it dropped 827.27 points or one per cent to 80,332.41 points. The 50-share NSE Nifty tumbled 236.15 points or 0.95 per cent to an over three-week low of 24,654.70 points. The index has been on a decli ...Read More >
HYDERABAD, India, April 3 (Reuters) - Soon-to-be brides and grooms seeking shortcuts to shed pounds before the big day have become the latest consumer target for weight-loss drugs in India. New Delhi wellness clinic Klarity Skin Clinic touts a "Mounjaro bride" package, while other clinics have woven weight-loss injections into "pre-wedding" transformation packages typically focused on skin treatments and hairstyle makeovers. In a social media video, Klarity offers "guided nutrition, Mounjaro and smart workouts" to prepare brides to walk down the aisle. The clinic did not respond to a reques ...Read More >
HYDERABAD, India -- The death toll from Monday's massive explosion and fire at a pharmaceutical factory in India's southern state of Telangana has risen to at least 36 while about three dozen were left injured, authorities said Tuesday. The fire department recovered the charred bodies of 34 workers from the accident site in an industrial area about 50 kilometers (31 miles) from the state capital Hyderabad, the state's fire services director G.V. Narayana Rao told The Associated Press. Two other workers succumbed to burns and were pronounced dead in hospital, Rao said, adding that debris of t ...Read More >
Raichur (Karnataka) [India], August 14: In a landmark moment for global hepatology and Indian pharmaceutical innovation, Shilpa Medicare Limited (BSE: 530661) (NSE: SHILPAMED) has secured the world's first regulatory approval from India's Central Drugs Standard Control Organization (CDSCO) for Nor Ursodeoxycholic Acid (NorUDCA) Tablets 500 mg, the first-ever approved therapy targeting NAFLD. Also Read | 'Coolie' X Review: Rajinikanth's 'One-Man Show' With Nagarjuna's Stylish Act and Anirudh Ravichander's BGM Redeems Lokesh Kanagaraj's Massy Thriller, Say Netizens. * Shilpa Medicare emerges a ...Read More >
NEW DELHI: Following the acquisition of JB Chemicals & Pharmaceuticals (JB Chem), Torrent Pharma is set to become India's fifth-largest pharmaceutical company, capturing a 4.6% share of the Rs 2.3 lakh crore organised retail market.The acquisition boosts Torrent Pharma's rank from 7th to 5th place, increasing its market share from 3.6% to 4.6%, according to data gathered by TOI from market intelligence firm Pharmarack.Sun Pharma leads the highly fragmented pharma market with sales of over Rs 19,000 crore and an 8.3% share (Moving Annual Total or 12-month period ended May '25). The Ahmedabad-ba ...Read More >
Sangareddy (Telangana) [India], July 1 (ANI): Telangana Governor Jishnu Dev Varma has expressed grief over the tragic fire accident that occurred at the Pashamylaram industrial area in Sangareddy district that killed 12 people. The Governor paid condolences to the families of those who lost their lives in the incident and wished a speedy recovery to the injured. Also Read | Rules Changing From July 1, 2025: From LPG Cylinder Prices and Railway Fares to Aadhaar-PAN Link, Check Key Rule Changes Taking Place Next Month. The Governor spoke to the Labour, Employment Training and Factories (LETF) ...Read More >
Hyderabad: The Telangana Drugs Control Administration (DCA) has recently flagged the improper use and illegal sale of the cardiovascular drug Mephentermine Sulphate injections in gyms across Secunderabad. Acting on a tip-off from the Karkhana police, DCA officials conducted a raid on an unlicensed premises owned by M Naresh at Namalagundu, Secunderabad, seizing 66 vials of the cardiac stimulant drugs Termin and Termiva. These injections, primarily intended for medical use to normalise decreased blood pressure during surgery-induced hypotension, are being illegally stocked and sold in gyms to ...Read More >
KOCHI -- At least 34 people have been killed in a massive fire at a pharmaceuticals factory in the southern Indian state of Telangana, according to news agencies. The blast took place during work hours on Monday at a unit of Sigachi Industries, leaving several injured and in critical condition. "As many as 31 bodies have been extricated from the debris while three died in hospital while undergoing treatment," senior district police official Paritosh Pankaj told the Press Trust of India. Police have registered a case against the management of Sigachi Industries, based on a complaint by the s ...Read More >
NEW DELHI - Dozens have died in a major explosion at Sigachi Industries Pvt. Ltd., a pharmaceutical manufacturing plant in Pashamylaram, Sangareddy, Telangana, India. The blast, which happened at around 9:10 a.m. on Monday, 30 June 2025, has become one of the state's deadliest industrial disasters. At least 44 workers lost their lives, and many more suffered serious injuries. As of Wednesday, 2 July, search teams are still looking for 12 missing workers, and there are concerns that the number of victims may rise. Witnesses in nearby Isnapur reported hearing a loud bang, which set off a large ...Read More >
Hyderabad: Heritage Foods Limited, a leading Indian dairy brand, reported its highest-ever quarterly revenue of Rs11,368 million for the first quarter of FY26, registering a 10% year-on-year growth despite headwinds from unseasonal rainfall across its key markets. The company, which is celebrating 34 years of operations, attributed its strong performance to steady progress in milk procurement, resilient milk and value-added product (VAP) sales, and its continued focus on quality, innovation, and farmer empowerment. Heritage also unveiled its "Vision 2030" strategy to become India's most admir ...Read More >
New Delhi [India], September 30: Essential oils are powerful extracts made from plants using processes like steam distillation or cold pressing. They are valued not only for their soothing fragrances but also for their natural healing and functional properties. The global essential oils market was worth USD 23.74 billion in 2023 and is expected to grow steadily at a 7.6 CAGR between 2024 and 2030. This growth is driven by the rising use of essential oils in industries like food and beverages, cosmetics, personal care, aromatherapy and even pharmaceuticals. The shift towards natural, chemical- ...Read More >
Lupin announced the completion of its acquisition of VISUfarma B.V. (VISUfarma), a leading European specialty pharmaceutical company focused on ophthalmology, from GHO Capital Partners LLP (GHO). The acquisition represents a significant milestone in Lupin's strategy to expand its specialty care portfolio and strengthen its presence in Europe. The integration of VISUfarma has significantly expanded Lupin's ophthalmology portfolio to over 60 branded products spanning dry eye, glaucoma, eyelid hygi ...Read More >
READ MORE: Ozempic-maker's new fat-busting drug cuts body weight by a quarter - and it comes as a jab or a PILL The Ozempic boom has seen a drug widely used to treat diabetes and manage obesity in adults transform into 'miracle' weight loss jab that's coveted by anyone with a few extra kilos to shed. Ozempic and other alternatives like Mounjaro and Wegovy are all different brand names for the drug semaglutide that mimics the the actions of GLP-1 - a hormone in the brain that regulates appetite ...Read More >
NEW DELHI: The death toll in a chemical factory blast in southern India rose to 45 on Tuesday (July 1) as more bodies were retrieved from the rubble. The facility at Pashamylaram near Telangana state's capital Hyderabad belonged to Sigachi Industries Limited. It made microcrystalline cellulose, a clarified wood pulp in powder form used in industries such as food and beverage, pharmaceuticals and cosmetics. There were 143 people at the site when the blast occurred in a reactor and caused a huge fire, according to local media reports. The latest death toll was 45, with 35 reported injured. ...Read More >
SANGAREDDY/HYDERABAD: The state government on Wednesday constituted an expert committee to investigate the explosion that killed at least 38 people at Sigachi Industries in Pashamylaram. Rescue operations continued on Wednesday, with two more bodies recovered from the debris, bringing the official death toll to 38. Another 10 workers are still unaccounted for. Meanwhile, the company announced that it will offer an ex-gratia of Rs 1 crore to the kin of each deceased. The committee, chaired by B Venkateshwar Rao, Emeritus Scientist at CSIR-IICT, has been tasked with identifying the causes of t ...Read More >
The car had a Maharashtra number plate. Luggage was tied to the roof of the vehicle, which made officials believe that a family had come from Maharashtra to visit Agra. A shocking and heartbreaking incident has come to light from the Taj Mahal complex in Agra, Uttar Pradesh. An elderly man was found unconscious and tied inside a locked car parked near the western gate. The incident has raised serious questions about human sensitivity and responsibility. According to Aaj Tak, the man had been locked inside the car for several hours. The extreme heat and humidity had made his condition critic ...Read More >