How Hiren Patel, founder Karsanbhai’s son, is reinvigorating Nirma by administering a shot of pharma. Nirma’s tryst with the pharmaceutical space started in 2006 when it acquired the ailing Core Healthcare in a deal reported to be worth Rs 300 crore. The Ahmedabad-based manufacturer of intravenous fluids was subsequently renamed Nirlife. Pharma industry insiders say Nirma, which broke open the […]

The country’s most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this — the diminishing premium of HDFC Bank’s American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium […]

‘We suggest an equity strategy of 5% to 10% exposure to cash, 5% to Gold ETF, close to 50% to Sensex/Nifty/large mid-cap stocks.’ Rising oil prices that can stoke inflation fears, firm bond yields and a patchy monsoon back home can trigger a market correction in the short-to-medium term, feel analysts, who suggest investors will be better off sticking to […]

The transition to UPI-based ATMs will be gradual, and consumers will not immediately switch to using standalone UPI ATMs overnight. India’s automated teller machine (ATM) network may soon see an upgrade as it introduces a new feature to existing ATMs, allowing them to dispense cash through Unified Payments Interface (UPI)-based quick response (QR) codes. In September, the National Payments Corporation […]

Following alterations in the tax structure, mutual fund (MF) schemes that invest in overseas securities have experienced a sharp decline in inflows. In the first five months of 2023-24 (FY24), international MF schemes have received an average monthly gross inflow of only Rs 270 crore, compared to Rs 490 crore during the same period in the previous year. This decline […]

The U.S. Department of Agriculture’s Food Safety and Inspection Service or FSIS has issued warnings against certain ready-to-eat or RTE ham products as well as RTE stuffed pepper soup with meatballs. A public health alert has been given against Manteca, Califorina-based Sunnyvalley Smoked Meats’ ham products under Costco’s in-house brand Kirkland Signature citing possible contamination with Listeria monocytogenes. Further, the […]

UK house prices fell sharply again in September as stretched affordability damps housing market activity, data from the mortgage lender Nationwide Building Society revealed Monday. The Nationwide house price index posted an annual decline of 5.3 percent, the same pace of decrease as seen in August. The decrease was the biggest since July 2009. Nonetheless, prices were forecast to fall […]

Reflecting the mixed cues from Wall Street on Friday, Asian stock markets are mixed in slim holiday trading on Monday, as traders react to the US narrowly avoiding a government shutdown amid a last minute temporary agreement reached by the legislators. Concerns about high interest rates and global economic slowdown rendered the mood cautious, prompting traders to lighten commitments. Asian […]

Bajaj Auto has virtually closed the gap with Ather Energy in September, notching up 6423 EV registrations compared to 6466 registrations by Ather. Incumbent two-wheeler giants, TVS and Bajaj Auto, have in the last four months aggressively ramped up volumes, which has helped them grab a substantial share of even the electric two-wheeler market. They have also reduced their gap […]

European shares rose on Friday to extend gains from the previous session after data showed Eurozone inflation hit a two-year low in September – supporting expectations that the European Central Bank will keep interest rates on hold. Eurostat reported that the Eurozone’s annual inflation rate fell to 4.3 percent year-on-year in September, marking the lowest level since October 2021. Elsewhere, […]