Continued pricing pressures in the US and European markets coupled with regulatory overhang and cost inflation will affect profit margins of major Indian pharmaceutical firms, ratings agency ICRA said on Thursday. The revenues for a sample set of 16 Indian pharmaceutical firms, including the likes of Wockhardt, Torrent Pharmaceuticals, Pfizer, Abbott India, Cipla, Lupin, Sun [...]
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICRA said on Thursday. In a recent note on the primary base metal industry, ICRA said that the earnings of the industry would continue to remain under pressure in [...]
Corporate India is indicating cautious hiring in the March quarter of 2023 as concerns rise over possible recession and steady inflation, a survey said on Thursday. According to the ManpowerGroup Employment Outlook Survey, based on interviews with nearly 3,030 public and private employers, hiring intentions will decrease in the quarter both on year-on-year and quarter-on-quarter [...]
The Biden administration has proposed a massive hike in immigration fees, including the much sought-after H-1B visas for high-skilled foreign workers which is very popular among Indian tech professionals. Under the proposed rule, published by the US Citizenship and Immigration Services (USCIS) on Wednesday, the application for the H-1B visa increases from USD 460 to [...]
India’s GDP will be close to USD 20 trillion by 2047 and per capita income may reach USD 10,000 (at current value of USD), Bibek Debroy, chairman, Economic Advisory Council to the Prime Minister, said on Wednesday. Virtually addressing the inaugural session at the 57th Annual Conference of the Indian Econometric Society (TIES) held at [...]
New Delhi, Jan 5 (PTI) Retail sales of overall vehicles in India grew by 15.28 per cent to 2,11,20,441 units in 2022 led by record sales of passenger vehicles and tractors, Federation of Automobile Dealers Associations (FADA) said on Thursday. In 2021, total retail sales of vehicles in India were at 1,83,21,760 units, FADA said [...]
Employees of three state-owned power companies in Maharashtra called off their strike on Wednesday evening, hours after they stopped work as part of a three-day agitation launched in support of their demands, following an assurance from the government that the utilities will not be privatized, fulfilling a key demand. Maharashtra Deputy Chief Minister Devendra Fadnavis, [...]
Issues related to ATM/debit cards and mobile/electronic banking were the top grounds of complaints received at the Office of Banking Ombudsman (OBO) during April 1 to November 11, 2021, an RBI report said on Wednesday. The volume of complaints received under the Ombudsman Schemes/Consumer Education and Protection Cells during 2021-22 increased by 9.39 per cent [...]
The government on Wednesday approved Rs 2,614.51 crore investment for the 382 MW Sunni Dam Hydro Electric Project by state-owned SJVN Ltd in Himachal Pradesh. "The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the investment for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh by SJVN Ltd, [...]
Market benchmarks Sensex and Nifty tumbled 1 per cent on Wednesday amid continuous foreign fund outflows and a weak trend in index majors Reliance Industries and HDFC Bank. The 30-share BSE Sensex slumped 636.75 points or 1.04 per cent to settle at 60,657.45. During the day, it declined 700.64 points or 1.14 per cent to [...]
