AstraZeneca Plc agreed to acquire Chinese cell therapy developer Gracell Biotechnologies Inc. for as much as $1.2 billion as the British drug giant bolsters its bets on medical innovation in the world’s second-biggest economy. Under the agreement, Astra will acquire Shanghai-based Gracell for $2 a share, amounting to an upfront cash payment of $1 billion. […]
The 2022-23 fiscal was the best year for public share sales of small and medium enterprises (SMEs) as individual investors, lured by eye-popping returns, flocking to pick up these offerings. SME firms mopped up Rs 2,232 crore by way of 125 offerings in FY23, more than thrice the 37 mainboard issuances that have hit the […]
Adani group stocks continued to bleed on Tuesday with six scrips hitting the lower circuit. The rout continues even after the Gautam Adani-led conglomerate appointed accountancy firm Grant Thornton for independent audits of some of its companies in a bid to discredit claims by short-seller Hindenburg Research that have battered its stocks and bonds. Adani […]
JG Chemicals, a Kolkata-based zinc oxide manufacturer, received the final observation from the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering. The IPO will consist of a fresh issue of equity shares worth up to Rs 202.5 crore, as well as an offer-for-sale (OFS) component of 5.7 million […]
Capital good stocks have outperformed broader markets by the wide margin during the past year. In fact, just four of the 24 stocks in the BSE Capital Goods bucket have returned losses. During this period, the benchmark Sensex has returned 6.28%, while the Capital Goods index has returned 31.24%. The government’s push towards infra spend, […]
Benchmark indices NSE Nifty and BSE Sensex ended Friday’s session in the green territory. The NSE Nifty 50 surged 149.95 points or 0.84% to 18,065 and BSE Sensex skyrocketed 463.06 points or 0.76% to 61,112.44. In sectoral indices, Bank Nifty jumped 233.05 points or 0.54% to 43,233.9 and Nifty IT advanced 352.95 points or 1.29% […]
KMB reported strong earnings growth, with a 26% y-o-y increase in standalone PAT to Rs35 bn, driven by lower operating expenses and controlled provisions, as PPoP was up 39% y-o-y. Consolidated PAT grew 17% y-o-y to Rs 45.7 bn during the quarter. Loan growth moderated sequentially to around 3%, while the margin expanded further by […]
The landmark Telecommunications Bill, which was passed by Parliament recently, has received the President’s assent.’The Telecommunications Act, 2023′ is set to overhaul the country’s century-old telecom law to make the sector investor-friendly; it prioritises user protection but also extends powers to the government to intercept communications. While it excludes from its ambit broadcasting, and over-the-top […]
By Siddhant Mishra The Securities and Exchange Board of India (Sebi) on Friday said asset management companies can now provide management and advisory services to all foreign portfolio investors (FPIs) operating out of the International Financial Services Centres (IFSCs) and regulated by the International Financial Services Centres Authority. As regards investment in equity and equity […]
A cautionary note has been issued as we brace ourselves for an approaching solar storm set to hit us on December 27. This alert follows a celestial event on December 24 when a coronal mass ejection (CME) took place due to the eruption of a magnetic filament on the side of the Sun facing our […]
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