Taro’s shareholders have approved the merger agreement with Sun Pharma, as announced by the Mumbai-based pharmaceutical giant on Thursday. The approval came during an extraordinary general meeting and an ordinary class meeting on May 22, 2024. Dilip Shanghvi, Managing Director of Sun Pharma, expressed satisfaction with the shareholders’ approval. “We are pleased with the approval…
Foreign portfolio investors (FPIs) are increasingly favoring GIFT City, India’s premier International Financial Services Centre (IFSC), over traditional investment routes through Mauritius, Singapore, and other countries. This shift is largely driven by the Indian government’s initiatives to promote GIFT City by offering attractive tax benefits and streamlined business operations. GIFT City’s guaranteed tax advantages, supported…
The Reserve Bank of India (RBI) is expected to transfer a dividend of between Rs 85,000 crore and Rs 1 lakh crore to the government for FY25, driven by anticipated higher interest income from foreign securities, according to economists. The RBI’s board is meeting today to finalize the dividend payout. Budgeted and Revised Estimates The…
The Securities and Exchange Board of India (SEBI) has released new guidelines aimed at managing the impact of market rumours on stock prices, according to a circular dated May 21. Staggered Implementation The new regulations will be implemented in phases. They will apply to the top 100 listed entities starting June 1, 2024, and to…
After a successful year of implementing the T+1 settlement, it has shown high levels of operational effectiveness. Recently, SEBI has introduced a new option for clearing and settling funds and securities on the same day (T+0) in addition to the existing T+1 settlement cycle. According to the T+0 system, trades will be settled on the day…
Kotak Institutional Equities has raised alarms about the sustainability of valuations for numerous Indian companies. The brokerage firm has highlighted that 104 companies are trading at price-to-earnings (PE) ratios exceeding 50 times, with nine companies trading at over 100 times PE. For a company to justify a PE of 100 times, it would need its…
Red Hat CEO Matt Hicks emphasized India’s expanding enterprise base and technical innovation capabilities as an excellent fit for Red Hat’s growth strategy. He highlighted India’s strong market fundamentals and significant enterprise needs, positioning the country as a key driver for Red Hat’s growth. Hicks also discussed the transformative impact of Artificial Intelligence (AI) on…
The Shapoorji Pallonji group has proposed an improved deal for the bondholders of Goswami Infratech by agreeing to pay an additional Rs 400 crore, increasing the total payout to Rs 1,800 crore. In exchange, the group is seeking the bondholders’ approval to postpone the coupon payment on the debt from the original repayment date of…
Finance Minister Nirmala Sitharaman has reaffirmed the Indian government’s commitment to boosting the manufacturing sector, despite skepticism from former RBI governor Raghuram Rajan. At the Confederation of Indian Industry (CII) Annual Business Summit, Sitharaman emphasized the necessity for India to enhance the sophistication of its products and provide policy support to the manufacturing sector. She…
Narendra Ostawal, the head of investment advisory activities at Warburg Pincus in India, shares insights on the recent acquisition of Shriram Housing Finance, shedding light on the rationale, valuations, and future prospects in the financial services sector. Key Highlights: Strategic Fit: The acquisition aligns with Warburg Pincus’s belief in the growth potential of retail credit,…
