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Biocon's consolidated net profit plummeted by 95% to Rs 31 crore in the June quarter, with total revenue declining to Rs 4,022 crore. Despite this, operating revenue increased by 15% YoY, driven by Biosimilars and CRDMO gains. A recent QIP has strengthened the balance sheet, enabling increased ownership in Biocon Biologics and positioning the company for long-term value creation.
Fitch Ratings estimates the US effective tariff rate at 17% after recent reciprocal tariff announcements. Indian goods faced a 20.8% rate before August 27, including exemptions. While the US average tariff was 3.3% in 2024, additional d ...more
Starting January 1, 2026, the RBI mandates banks to settle claims of deceased customers within 15 days with complete documentation. Failure to comply results in penalties: interest on deposit delays and a daily charge for locker access ...more
India's IT sector faces a double blow as AI-driven rate cuts combine with Trump's 25% tariffs. Experts predict dampened sentiment and stalled discretionary spending, particularly in manufacturing, logistics, and retail. The tariffs stok ...more
Despite initial concerns over increased US tariffs, Indian markets closed higher due to late buying and positive news, including potential peace talks and upcoming visits by global leaders. While some sectors like textiles and engineeri ...more
India is currently OpenAI's second-largest market worldwide behind the United States.
The Bank of England reduced interest rates to 4% due to economic concerns. This is the fifth cut since August 2024. The move aims to counter rising US tariffs and domestic tax hikes. Inflation rose to 3.6% in June. Growth forecast is sl ...more
“As companies look to accelerate this transformation, prioritising data regionalisation is becoming a strategic imperative, enabling trust, transparency, and seamless collaboration,” said Kamolika Peres Gupta, Vice President, India and SAARC, Autodesk
While support from the government cannot be a substitute for export orders, financial assistance is needed to tide over the crisis, say exporters
FICCI president urges bold economic reforms as the US imposes a 25% import tariff on Indian goods, potentially raising the total burden to 50%. This move, penalizing India for Russian oil purchases, sparks industry concerns about compet ...more
Amitabh Kant views the US tariff hike on Indian goods as a chance to accelerate economic reforms. Donald Trump's decision, linking tariffs to India's Russia ties, doubles duties on various exports, potentially impacting sectors like tex ...more
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