News Overview

COMEX Gold futures turned sharply lower yesterday. The metal tanked from a two month high above $1850 per ounce as the US Federal Reserve on Wednesday said it is likely to hike interest rates in March and reaffirmed plans to end its bond purchases that month in what US central bank chief Jerome Powell pledged will be a sustained battle to tame inflation. Citing elevated […]

The company will monetise the investment in Future Generali India Insurance Company to its Joint Venture partner, Generali Participations Netherlands N. V. for a cash consideration of Rs1252.96cr.

The International Monetary Fund (IMF) has cut Indias economic growth forecast for the ongoing financial year, FY22 to 9%. The US-based financial institution had forecasted Indias real GDP growth at 9.5% in October 2021 and has downgraded it on the possible impact of the Omicron variant of Covid-19 on mobility restrictions and business activities. However, the Fund has upgraded Indias growth figures for FY23 and […]

The company has also started its gradual country expansion by distributing its products in new states.

The board has approved a second interim dividend at the rate of 47.5 percent amounting to Rs4.75 per share.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has received final approval by the United States Food & Drug Administration (U.S. FDA) for Bisoprolol Fumarate and Hydrochlorothiazide Tablets USP, 2.5 mg/6.25 mg, 5 mg/6.25 mg, and 10 mg/6.25 mg, the generic version of Ziac?1 Tablets, 2.5 mg/6.25 mg, 5 mg/6.25 mg, and 10 mg/6.25 mg, of Teva Branded Pharmaceutical Products R&D, Inc. According to IQVIA™ sales data for […]

The US crude-oil inventories edged up last week as refinery activity dropped to the lowest since early November, according to data released Wednesday by the Energy Information Administration (EIA). The Crude oil stockpiles rose by 2.4 million barrels to 416.2 million barrels, and remain about 8% below the five-year average, the EIA said. Oil stored at Cushing, Okla, the delivery point for US stocks, fell […]

Wipro announced the appointment of Badrinath Srinivasan (Badri) as the Managing Director for Southeast Asia. Badri will focus on Wipros vision for business growth, revenue expansion, client and influencer relationships, talent development and brand building. Badri will also strengthen the key markets of Southeast Asia focusing on large deals and strategic transformational engagements. In his most recent role, Badri was the Asia leader for the […]

The company has continued to invest in new digital brands to realize this aspiration.

US new home sales surged much more than expected to a nine-month high in the month of December. The Commerce Department said new home sales soared by 11.9 percent to an annual rate of 811,000 in December after spiking by 11.7 percent to a revised rate of 725,000 in November. With the much bigger than expected increase, new home sales reached their highest annual rate […]