NEW DELHI: While asserting that Indian macroeconomic fundamentals are strong and tax cuts will help boost private sector investment, Anant Goenka, the newly elected Ficci president and vice-chairman of the RPG Group, on Tuesday suggested that the Reserve Bank of India should lower interest rates.“The situation is ripe for a rate cut. Inflation was better…
Premiumisation push to help co target faster growth in India, says India chief executive NEW DELHI: India has emerged as the biggest volume-grosser for French spirits giant Pernod Ricard, led by strong sales of local whisky brands, such as Royal Stag, Blenders Pride and 100 Pipers, as well as its premium portfolio of products like…
HSBC has a buy on Dr Reddys Labs with the target price at Rs 1,430. Analysts said that the semaglutide opportunity is intact for Dr Reddy’s in Canada, and it has replied to Health Canada’s queries on its application. GLP-1 drugs class remains the company’s focus segment and it is making progress in long-term drivers…
NEW DELHI: In a significant development in the blockbuster weight loss drug space, Delhi High Court has allowed Dr Reddy’s Labs to manufacture and export semaglutide, ruling that the patent held by Novo Nordisk is prima facie invalid, legal experts told TOI.The move is expected to boost confidence among domestic companies to pursue plans to…
NEW DELHI: The European Union’s decision to allow seafood exports by 102 new Indian entities has helped boost the shipment of prawns and other frozen shrimps to the members of the trading bloc.Exports have increased 55% to $448 million during April-Oct, from $290 million in the corresponding period last year, data available with the commerce…
MUMBAI: The rupee fell to a record low on Tuesday, extending losses driven by the absence of a trade deal with the US that has weakened trade and portfolio inflows and pushed the currency into its fifth straight day of decline.The rupee touched 89.95 during the session before closing at 89.87, down 0.4%. Data from…
Big Short investor Michael Burry has cast doubt on Tesla’s lofty valuation and warned that CEO Elon Musk’s newly approved $1 trillion compensation package could place even more strain on shareholder returns. In a weekend post on his Substack newsletter, Burry wrote that the electric-vehicle maker’s market value is “ridiculously overvalued” and has been “for…
A Parliamentary panel has called for sweeping improvements to India’s insolvency framework, including a new advance ruling mechanism that would give stakeholders clarity even before a case is admitted under the Insolvency and Bankruptcy Code (IBC). The proposal is aimed at reducing avoidable litigation and safeguarding the time-bound nature of the resolution process, according to…
India’s three largest lenders — State Bank of India, HDFC Bank and ICICI Bank — will continue to be treated as domestic systemically important banks (D-SIBs), the Reserve Bank said on Tuesday, underscoring their critical role in the financial system and the need for stronger capital cushions. The designation requires the lenders to maintain higher…
The Pension Fund Regulatory and Development Authority (PFRDA) will create a dedicated NPS fund-of-funds platform to route pension money into selected alternative investment funds (AIFs), chairman S Ramann said on Tuesday, outlining a broader push to position pension assets as a stable source of long-term capital for India’s private markets. Speaking at IVCA DII &…
