Mumbai | New Delhi: India has ordered all large unlisted private companies, including unicorn startups, to dematerialise their shares, a move experts believe will help establish genuine beneficial ownership of high-growth stock and clamp down on shell companies that are often used to launder unlawful cash. “It is a matter of common knowledge that in … Read more
West Bengal Minister Jyoti Priya Mallick being taken into custody by the Enforcement Directorate (ED) in Kolkata on Oct. 27, 2023. | Photo Credit: ANI The arrest of West Bengal Minister Jyoti Priya Mallick by the Enforcement Directorate (ED) on October 27 over an alleged public distribution system (PDS) scam has sparked a political … Read more
Vishnu Kumar Raju. File | Photo Credit: The Hindu Former MLA P. Vishnu Kumar Raju demanded the State government to release ₹21 crore funds which were supposed to be given to 86 IT companies as incentives. Addressing a press conference in the city on October 23, the senior Bharatiya Janata Party (BJP) leader said that … Read more
Mumbai: The initial trend in the second quarter results season is along anticipated lines with double-digit growth in net profit helped by a low base in the year-ago period and a stellar performance by banking and finance companies, offsetting a muted show by software exporters. For a sample of 219 companies, aggregate net profit grew … Read more
Mumbai: The recent rush of initial public offerings (IPOs) in the Indian market has ensured that investment banks (i-banks) have seen better fee income generation in recent months. Bankers have seen their fee income grow by a sharp 36% to ₹509.2 crore in H1FY24, data analysed by ET showed. So far this fiscal, 19 companies … Read more
Jharkhand High Court. File | Photo Credit: The Hindu The Jharkhand High Court has set a deadline of 45 days for the State government to form a high-level committee to ensure the return of funds invested by people in various chit-fund companies. A division Bench of Chief Justice Sanjaya Kumar Mishra and Justice Ananda Sen … Read more
“And I think this $10 billion mark has to be a combination of organic as well as inorganic. And I am very confident that given the credibility that we have in the marketplace and the credentials that we have, I am sure we can do it over a period of time,” says Debashis Chatterjee, CEO … Read more
ET Intelligence Group: If the diktat of the National Medical Commission (NMC) mandating doctors to prescribe only generic drugs indeed gets implemented, drug marketing in India is likely to witness five major changes.1. Companies with not-so-strong brands are likely to face the heat.Mid-sized pharma companies having brands that are not in top-ten in their therapies … Read more
Mumbai: Rakesh Jhunjunwala-backed Concord Biotech launched its IPO Friday, joining the ranks of the late billionaire’s other private investment portfolio companies such as Star Health, Metro Brands and Nazara Technologies that have gone public in the past couple of years. The ace investor often called India’s Warren Buffet, first invested in Concord in 2004 and … Read more
Mumbai: Recent changes introduced by the Securities and Exchange Board of India (Sebi), aimed at improving corporate governance and investor protection have led to an increased compliance burden and associated costs for listed companies, according to India Inc. Companies are struggling to prepare themselves for the new regulations, some of which are in place while … Read more