Author: Gaurav
Cipla reports 30% increase in net profit, revenue up 9% NEW DELHI: Mumbai-based Ciplahas reported a 30% year-on-year (YoY) increase in net profit, standing at Rs 1,222 crore for the fourth quarter ended March 31. The company’s revenue was Rs 6,730 crore, reflecting a 9% growth from the corresponding period last year.For FY25, Cipla’s revenue rose 8% to Rs 27,548 crore.Umang Vohra, MD and Global CEO, Cipla, commented on the implications of recent US policies in a post results’ call, stating, “We don’t see any material impact of tariffs on generics as of now.”Regarding Trump’s executive order announced on May…
The market regulator plans to ease rules for foreign portfolio investors (FPIs) that invest only in Indian government bonds as it seeks to draw more inflows after India’s inclusion in global bond indices.Also Read | Sebi’s PSU delisting proposal sparks calls for parity with private companiesThe Securities and Exchange Board of India (Sebi) has proposed easier registration and compliance for such FPIs, according to a consultation paper released on Tuesday.The move is aimed at improving the ease of doing business and attracting more stable, long-term capital into sovereign debt. India has been included JPMorgan Global Bond Index and Bloomberg Emerging…
Senior Advisor to the US President Elon Musk (L) and Nvidia CEO Jensen Huang (C) are directed to greet the Saudi Crown Prince at the Royal Court in Riyadh on May 13, 2025. Brendan Smialowski | Afp | Getty ImagesWealth and power.Global political and business leaders gathered in Riyadh Tuesday for the Saudi Arabia Investment Forum, discussing the artificial intelligence boom and global trade.President Donald Trump met with Saudi Crown Prince Mohammed bin Salman as several deals were announced between the two countries.Saudi Arabia is investing $600 billion in the U.S., a package that the White House said would boost…
Two men, including a chartered accounted, allegedly cheated the Ministry of Electronics and Information Technology (MeitY), a Delhi Police official said on Tuesday. According to a PTI news agency report, the pair cheated the ministry of over ₹3 crore under the pretext of the government-run ‘SAMRIDH’ scheme for startups. Two men have been arrested for cheating the Ministry of Electronics and Information Technology.(Representational) The Economic Offences Wing (EOW) of Delhi Police arrested the duo. The accused pair have been identified as Prashant Agarwal (34), Director of M/s HPPL Foundation, and Sudhanshu Kumar Rakesh, a chartered accountant and partner in M/s…