Record News

By Sarah N. Lynch

By Howard Schneider

Good morning,

Sun Pharmaceutical Industries Ltd aims to spend 7-8 per cent of its sales in the current fiscal on research and development activities as it looks to further strengthen its product portfolio across therapeutic segments, a senior company official said on Monday. Addressing shareholders during the Annual General Meeting (AGM), Managing Director Dilip Shanghvi said the company did well in all its geographies last fiscal, recording double-digit growth. «Our R&D spending is expected to be 7-8 per cent of sales in 2023-24 with an increasing share of spending in specialty (drug segment) R&D,» Shanghvi said. The Mumbai-based drug maker had reported a global consolidated revenue of Rs 433 billion in FY23. The Mumbai-based drug major spent about Rs 2,400 crore on R&D in 2022-23, which accounted for about 5.5 per cent of the sales as it continued to invest product pipeline for both global generics and specialty businesses.

Gran Turismo" has secured a promising opening with a revenue of $17.3 million, surpassing "Barbie," which, in its sixth week of screening, recorded an impressive $17.1 million. These figures may seem minor adjustments upon the final tally of ticket sales on Monday.

Retirement plans are getting more confusing, but that could be a good thing for financial advisors, according to a Fidelity Investments study released Monday.

coronavirus infections while the active cases were recorded at 1,524, according to Union Health Ministry data updated on Monday.

Paytm-pioneered QR Codes have changed the entire payments landscape, teaching ‘scan and pay’ to millions of users. With the launch of Paytm Soundbox in 2019, in-store payments got a complete overhaul. Paytm became the first company to introduce audio payment alerts through its iconic Soundbox.

₹58 lakh). Pakistan's Arshad Nadeem won the silver with a throw of 87.82m, and Czech Republic’s Jakub Vadlejch (86.67m) bagged the bronze medal. Arshad got a cash award of $35,000.

IPO listing date has been fixed for Thursday, August 31 on NSE and BSE. If you applied for the shares, here's how you can check allotment status of Aeroflex IPO. Also Read: Mono Pharmacare IPO opens today.

IPO listing date has been fixed for Thursday, August 31 on NSE SME. If you applied for the shares, here's how you can check allotment status of Sungarner Energies IPO. If you have applied for the Sungarner Energies Limited IPO, you can check your Sungarner Energies IPO allotment status immediately on the website of the IPO registrar, Skyline Financial Services Private Ltd.

European stocks started the week on a positive note, tracking Friday’s gains on Wall Street following cautious comments from central bankers at Jackson Hole. China’s support measures for its equities market helped lift sentiment.

The financial capital of India has recorded the sixth highest year-on-year growth in prime residential property prices among global cities in the April-June period of 2023. In the second quarter of 2023, the prices of prime residential properties rose by 5.2 per cent year-on-year in Mumbai.

₹684.10 apiece levels on NSE, logging to the tune of 3 per cent intraday rise during Monday deals. During the IRCTC AGM, the Indian Railways' PSU informed that the company has registered robust financial performance and announced final dividend of ₹2 per share to its shareholders, who would hold the scrip on record date.

Jio Financial Services will enter the insurance sector, said Mukesh Ambani at Reliance's 46th annual general meeting (AGM) on Monday. "JFS will enter the insurance segment to offer simple, yet smart, Life, General, and Health insurance products through a seamless digital interface, potentially partnering with global players. It will use predictive data analytics to co-create contextual products with partners and cater to customer requirements in a truly unique way," said the Reliance Chairman. JFS plans to democratise financial services for 1.42 billion Indians, giving them access to simple, affordable, innovative, and intuitive products and services, he said. Mukesh Ambani talked about the joint venture of Jio Financial Services with US-based BlackRock, the world’s largest asset manager. «BlackRock is the world’s largest asset management company, managing assets worth over USD 11 trillion with a stellar reputation and track record.

Unusual reports have surfaced from the heart of Germany's Harz mountains, as hikers claim to have encountered a perplexing figure known as the 'Wolf Man' within the region's forests. German newspaper Bild reveals that two hikers managed to capture the enigmatic individual on camera.

Morgan Stanley Real Estate Investing (MSREI) has partnered with industrial and logistics real estate developer Prakhhyat Group to develop a warehousing project spread over 7 lakh sq ft in Bhiwandi near Mumbai. MSREI has invested around Rs 350 crore to acquire majority equity stake in the project One K-Square will be developed in the Mumbai-based warehousing major’s existing facility K Square Logistics Park. In September 2021, it closed a $3.1 billion real estate fund and has been investing across assets from that pool. It has so far invested in over 5.6 million sq ft of logistics assets across India’s key warehousing hubs. “Industrial and Logistics as an asset class is a high-conviction theme across our investment strategy and we are partnering with Prakhhyat Group to develop a top-class warehousing park in one of the strongest logistics clusters in the country,” said Anand Iyer, Vice President, MSREI India. This alliance marks MSREI’s entry in the Bhiwandi sub-market of Mumbai Metropolitan Region (MMR). “Our experience in this market has helped us establish a solid track record in the logistics space.

London | The BBC is to be sued by a man interviewed in a case of mistaken identity over a row about royalties.

Qantas chief executive Alan Joyce has refused to say whether more competition from Qatar Airways would lower international airfares, conceding only that prices were “coming down anyway”.

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Reliance Chairman Mukesh Ambani sounded upbeat about the India story and revealed the company's ambitious plans in his speech at the 46th Annual General Meeting (AGM) of the company. Highlighting that the new India is full of self-confidence and the new Reliance is the forerunner of the emerging new India, Ambani pointed out that Reliance Industries’ consolidated revenues stood at ₹9,74,864 crore, while EBITDA for FY23 was ₹1,53,920 crore in FY23. The net profit was ₹73,670 crore.