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.
In a move to boost affordability, the government on Saturday fixed retail prices of a range of essential drugs. The Ministry of Chemicals and Fertilisers notified the move through a detailed order covering 35 medicines marketed by top pharmaceutical companies. The notification aims to ensure affordable access to essential medicines through price regulation by the National Pharmaceutical Pricing Authority (NPPA). The pricing decision was made under the provisions of the Drugs (Prices Control) O
India's pharmaceutical industry, valued at $50 billion, is booming as a global leader in generic drugs. With significant exports to 200+ countries, India meets a substantial portion of global demand for affordable medicine. Challenges include regulatory hurdles and quality assurance, as the nation aims to expand its generic drug market. The Indian pharmaceutical industry, currently valued at $50 billion, is playing an increasingly crucial role on the global stage. Renowned as the 'pharmacy of the world,' India's pharma sector is a major exporter, supplying essential generic drugs to over 200 ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA) at locat ...Read More >
New Delhi [India], June 8 (ANI): In a major crackdown, the Anti-Narcotics Task Force (ANTF) of the Delhi Police has busted an interstate drug syndicate and seized 348.176 kilograms of Ganja, officials said. According to Apoorva Gupta, Deputy Commissioner of Police, ANTF, Crime Branch, Delhi, the seized contraband is valued at approximately Rs 1.75 crore in the international market. The drug was being smuggled from Andhra Pradesh to the Delhi-NCR region, concealed beneath a consignment of watermelons in a truck. Two individuals, identified as Intezar Malik and Rizwan, have been arrested in c ...Read More >
NEW DELHI: The Nifty Pharma index closed on a positive note on Monday. Shares of Natco Pharma Ltd.(up 4.78 per cent), Ipca Laboratories Ltd.(up 4.37 per cent), Laurus Labs Ltd.(up 3.29 per cent), Gland Pharma Ltd.(up 2.94 per cent) and Glenmark Pharmaceuticals Ltd.(up 2.49 per cent) ended the day as top gainers in the pack. On the other hand, J B Chemicals & Pharmaceuticals Ltd.(down 6.78 per cent), Dr. Reddy's Laboratories Ltd.(down 1.37 per cent), Sun Pharmaceutical Industries Ltd.(down 0.71 per cent), Mankind Pharma Ltd.(down 0.59 per cent) and Granules India Ltd.(down 0.39 per cent) fini ...Read More >
Hyderabad, Jul 2 (PTI) Investigators probing the devastating explosion at the pharma plant of Sigachi Industries near here face significant challenges as three key officials who could have provided crucial data have died in the tragedy. According to a factories department official, the deaths of the factory manager, DGM (production) and an operator are expected to impede the acquisition of information vital for the probe. The investigation by the factories department officers may take about a fortnight, subject to availability of information. The official, however, affirmed that there will ...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 (up from seventh), capturing a 4.6% share (up from 3.6%) of the Rs 2.3 lakh crore organised retail market. Significantly, the deal propels Torrent to become the number one player in the over Rs 30,000 crore cardiac therapy market (moving annual total or 12-month period ended May 25), overtaking the leader Sun Pharma, from an existing 7% to nearly 11% share (MAT May 25). Sun Pharma leads the highly fragmented market with sales of just ove ...Read More >
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 >
As many as nine people are still missing in the explosion at the Sigachi Industries' pharma plant in Pashamylaram that claimed at least 38 lives and left 35 injured, and efforts are on to trace the missing people, Superintendent of Police (SP) of this district, Paritosh Pankaj, said on Thursday. Meanwhile, the expert committee appointed by the state government to ascertain the causes and establish the sequence of events that led to the explosion is expected to visit the site on Thursday. The pa ...Read More >
Hyderabad, Dec 3 (Maxim News): The inspecting teams of Drugs Control Administration (DCA), Telangana State raided a healthcare facility operated by a quack Banothu Srinu and seized illegally stocked drugs meant for sale at Beerappagadda, Uppal Khalsa village, medical-Malkajgiri district. Click Here To Join Us On WhatsApp Banothu Srinu was practicing medicine without proper MBBS qualification at his healthcare facility named Anjali Clinic. During the course of the raid, the DCA teams seized 17 varieties of medicines worth Rs. 20,500 including antibiotics, steroids, antifungal drugs, analgesic ...Read More >
Mumbai: Dr Reddy's Laboratories has entered into a collaboration with Reykjavik, Ireland-based biotech company Alvotech to co-develop, manufacture and commercialise a biosimilar version of blockbuster cancer drug Keytruda for the global markets. Keytruda (generic name is pembrolizumab), manufactured and marketed by Merck & Co, is the most successful medicine, recording worldwide sales of $29.5 billion in 2024. It is used to treat multiple forms of cancer. Under the terms of the agreement, both companies will be jointly responsible for developing and manufacturing the biosimilar candidate and ...Read More >
New Delhi [India], June 8 (ANI): In a major crackdown, the Anti-Narcotics Task Force (ANTF) of the Delhi Police has busted an interstate drug syndicate and seized 348.176 kilograms of Ganja, officials said. According to Apoorva Gupta, Deputy Commissioner of Police, ANTF, Crime Branch, Delhi, the seized contraband is valued at approximately Rs 1.75 crore in the international market. The drug was being smuggled from Andhra Pradesh to the Delhi-NCR region, concealed beneath a consignment of watermelons in a truck. Two individuals, identified as Intezar Malik and Rizwan, have been arrested in c ...Read More >
Srinagar- Congress MP Shashi Tharoor on Saturday said foreign countries were told clearly during the post-Operation Sindoor diplomatic outreach that in case of a fresh provocation, India would repeat its action. Speaking at a discussion at the Ahmedabad Management Association, Tharoor said Indian delegations which visited foreign countries in the aftermath of Operation Sindoor managed to convey that India acted with restraint and responsibility. "In other places, we actually were able to get some very high-placed people to say not only that they respected and supported India's right of self- ...Read More >
Chennai: Apollo Hospitals Enterprise, controlled by the Prathap Reddy family, has announced a significant reorganisation where its pharmacy distribution and digital health operations will be carved out into a separate entity. This new entity, Apollo Healthtech, will seek listing on stock exchanges over the next 18 to 21 months, with current Apollo Hospitals shareholders receiving proportionate shares in the new company. The deal will create a leading omni-channel pharmacy distribution and digital health platform in India with revenues of Rs 16,300 crore ($1.9 billion), Apollo Hospitals said in ...Read More >
Raipur (Chhattisgarh) [India], July 1 (ANI): Chhattisgarh is rapidly emerging as one of India's fastest-growing industrial hubs, having received investment proposals over Rs 6.75 lakh crore in the past one and a half years and reflecting a strong and growing confidence among investors. This progress was further reinforced at the 'Industry Dialogue 2' held in Raipur on Tuesday. In the presence of Chhattisgarh Chief Minister Vishnu Deo Sai, new proposals worth Rs 1.25 lakh crore were finalised. The strong interest from investors highlights the state's growing importance in India's industrial l ...Read More >
New Delhi, Jul 2 (PTI) The Delhi High Court on Wednesday asked the Drug Controller General of India to consult experts and relevant stakeholders in deciding a plea over drug combinations sold in the market for weight loss treatment. A bench of Chief Justice D K Upadhyaya and Justice Tushar Rao Gedela asked the petitioner to give a representation to the DGCI, which was asked to decide the matter within three months. Also Read | 'Janaki' Title Row: Malayalam Film Industry Holds Protest in Front of CBFC Office Against Renaming of Suresh Gopi Film. A plea filed by Jitendra Chouksey said license ...Read More >
Severe air pollution in northern India has led to a surge in demand for respiratory medications, with Foracort becoming India’s top-selling drug in October. The inhaler, used to treat asthma and COPD, recorded Rs 75 crore in sales, surpassing popular medicines like Augmentin and Glycomet-GP. Manufactured by Cipla, Foracort combines budesonide and formoterol for effective dual-action therapy. Other respiratory drugs, Duolin and Budecort, also saw increased sales. With Delhi’s Air Quality Index reaching hazardous levels, the rise in respiratory issues underscores the urgent need for better healt ...Read More >
New Delhi, Jun 29 (PTI) Torrent Pharmaceuticals on Sunday announced the acquisition of majority stake in J B Chemicals and Pharmaceuticals in a Rs 19,500 crore deal to become India's second most-valued pharma company. Torrent will acquire 46.39 per cent stake from the promoters 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 Rs 1,600 per share (about Rs 719 crore). Post this, it would make an open offer for buying 26 per cent from open market, as per listing norms, at a price of Rs 1,639.18 per ...Read More >
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. 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 cent on Monday also. The death toll from the explosion at the Sigachi Industries' pharma plant in Pashamylaram in Telangana ...Read More >
New Delhi, Jul 2 (PTI) Shares of pharmaceutical firm Sigachi Industries Ltd tanked nearly 8 per cent on Wednesday, falling for the third trading session in a row, after a recent explosion and fire incident at its Telangana plant killed several people. The stock dropped 7.34 per cent to settle at Rs 42.69 apiece on the BSE. During the day, it tumbled 10.98 per cent to Rs 41.01. On the NSE, it tanked 7.57 per cent to Rs 42.56 a share. In three days, the stock has lost 22.63 per cent on the BSE. Sigachi Industries Ltd on Wednesday said it has lost 40 of its team members in the recent explosio ...Read More >
Bengaluru, Dec 3 (PTI) The Karnataka government on Tuesday requested the Drugs Controller General of India (DCGI) to investigate and take necessary action against a West Bengal-based manufacturer, amid concerns that recent maternal deaths in Ballari district, could be linked to substandard Ringer Lactate solution supplied by the company. In a letter, Karnataka Health Principal Secretary Harsh Gupta, drew the attention of the DCGI to the supply of several batches of "Compound Sodium Lactate I P (Ringer's Lactate I P)" by the West Bengal-based pharmaceutical company Paschim Banga Pharmaceutical ...Read More >
Gurgaon: Two days after a law student died and his friend suffered critical injuries when a car knocked them down as they stood near railing on the service lane of Delhi-Jaipur highway in the early hours of Tuesday, a civil engineer was arrested on Thursday.Mohit (31), an employee of a private company in the city, told police that he got drowsy while driving. He is staying at a PG facility in Sector 14.The student who died, Harsh Singhal (25), was a resident of Om Nagar colony. His friend Abhishek Kumar (23), who is from Shanti Nagar in Sector 11, is undergoing treatment at a private hospital ...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 >
BENGALURU - The death toll from the devastating explosion at a chemical components factory in Sangareddy, Telangana has reached 40, confirmed factory owner Sigachi Industries on Wednesday. Rescuers are working through debris on the third day of operations. Earlier reports had put the number at 36, but ongoing efforts recovered more bodies as the site continued to collapse under its own weight. Another 33 people are injured, with several being treated in critical condition at nearby hospitals. This facility produced key elements used in pharmaceutical pills, supplying major drug manufacturers ...Read More >
New Delhi: Was it the pitch? Was it the conditions? Was it the bowling? The questions doing the rounds after yet another strange show in good batting conditions by India were many. But with the exception of Shubman Gill, who became just the second Indian captain, after Mohammad Azharuddin, to score hundreds in consecutive matches in England, and Yashasvi Jaiswal, few India batters managed to answer them in a satisfactory manner. After being put into bat by England, India looked like they were in control at various points during the day but then somehow contrived to gift away wickets and end t ...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: Net profit of Nifty 50 companies at the aggregate level is expected to increase 4.6% year-on-year while revenue may increase 4.5% for the June 2025 quarter. Net profit is likely to show single-digit year-on-year growth for the first time in at least nine quarters amid an anticipated poor performance by select companies, including Tata Motors, IndusInd Bank and Coal India. The sample's revenue is expected to grow in single digit for the fourth consecutive quarter reflecting persistent muted demand scenario. Select companies from metals, pharmaceuticals, cement, banking and finance and ...Read More >
During Tuesday's trading session, the shares of a global leader in glass-lined equipment surged nearly 3 percent to Rs. 1,247.5 on BSE, after a foreign portfolio investor (FPI) bought shares worth a total of around Rs. 167.4 crores in the company via a bulk deal. With a market capitalisation of Rs. 5,524 crores, at 02:19 p.m., the shares of GMM Pfaudler Limited were trading in the green at Rs. 1,228.7, up by nearly 1.4 percent, as compared to its previous closing price of Rs. 1,211.3. As per the latest block deal available with the NSE, foreign portfolio investor Amansa Holdings Private Limi ...Read More >
Mumbai (Maharashtra) [India], December 10 (ANI): The stock market ended Tuesday's trading session on a subdued note, with the benchmark indices showing little movement. The Sensex edged up by 1.59 points, closing at 81,510.05, while the Nifty declined by 8.95 points to end at 24,610.05. Also Read | Parliament Winter Session 2024: Congress, INDIA Bloc Allies Move No-Trust Motion Against Rajya Sabha Chairman Jagdeep Dhankhar; Alleges 'Proceedings in Upper House Conducted in Partisan Manner'. In the Nifty pack, 23 stocks advanced, while 27 ended in the red. Among the top gainers were Shriram F ...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 >
Sangareddy (Telangana), Jun 30 (PTI) Eight people were killed and 26 others injured in an explosion triggered by a suspected chemical reaction in a pharma plant in this district on Monday, officials said. The explosion took place at a reactor in the plant of Sigachi pharma company in the Pashamylaram industrial estate due to the suspected chemical reaction where fire also broke out. Prime Minister Narendra Modi condoled the deaths. Inspector General of Police (Multizone) V Satyanarayana said: "Six bodies have been recovered from the accident site and two people died while undergoing treatme ...Read More >