Aware Financial News

Hamied family that founded Cipla are set to offload shares via block deals, said people aware of the matter, eight months after promoter-stake-sale talks with Torrent Pharma collapsed. A stake of up to 2.53% will be sold for an estimated Rs 2,637 crore by MK Hamied’s wife Shirin and their daughters Samina and Rumana along with Okasa Pharma, another promoter group entity, they said. The deals are likely to happen as early as Wednesday, they said. The move, days after the company posted its best annual results, has triggered speculation that more such transactions could be in the offing. The collapse of the $7 billion sale last year after lengthy negotiations had reportedly led to divisions within the family, according to people with knowledge of the matter. The three persons cited above hold 4.24% of Cipla while Osaka Pharma owns a 0.02% stake. They are offering to sell up to 20.45 million shares at Rs 1,289.50-1,357.35 apiece, translating to a total deal value of about Rs 2,637 crore ($316 million). That’s a discount of 0-5% to Cipla's closing price of Rs 1,357.35 on the NSE on Tuesday. There will be a post-sale, 90-day lock-in period, said the people cited.

skincare has led to increasing demand for derma products in the country. According to market research firm Pharmarack, the derma market is witnessing a notable uptick in both value and unit consumption. «Segments such as face serums, emollients, protectives, and sunscreens have experienced steady growth over time, reflecting evolving consumer preferences towards skincare regimens,» said Sheetal Sapale, VP-commercial, Pharmarack.

Fans of Korean pop bands around the world are increasingly channeling their millions-strong online community into climate and environmental activism

Federal auto safety regulators are warning people not to stick decals on their steering wheels because they can be hurled at drivers if the air bags inflate in a crash

—Name withheld on request 

Family offices are facing substantial and multiple risks but frequently lack the resources to effectively manage them, a new report warns.

White Widow' jihadi bride Samantha Lewthwaite will soon hit the theaters across the UK. Don't worry. She will not carry out a terrorist attack. A film exploring her life, her exploits as a terrorist and the reasons for becoming a 'jihadi' will be depicted in the movie. 'The Sun' has reported that Bella Ramsey, best known for her role in 'The Last of Us' will play the mother-of-four who converted to Islam aged 17 in a movie titled 'Girl Next Door'.

air quality at that time. For this purpose, district level officials are being trained, with the Union health and family welfare ministry planning to introduce a district-level action plan to tackle the impact of air pollution on health, according to officials. "The idea is to have two sets of data—one is of patients having existing breathing difficulties like acute respiratory illness and the other of those coming to hospitals for the first time with the same complications.

De Beers Group’s wholly-owned lab-grown diamond jewellery brand, Lightbox Jewelry, today announced a permanent price reduction to as low as $500 per carat, from a previous price of $800 per carat, for the brand’s Standard range of lab-grown diamonds. The price reduction follows months of testing lower prices and researching the lab-grown diamond jewellery sector. The brand will now have three linear price points – $500 per carat for IJ colour stones, $600 per carat for GH colour stones and $900 per carat for the highest quality stones of DEF colour, reduced from $1,500 per carat. All stones have a guaranteed minimum ‘very good’ cut and VS clarity, with the DEF stones to feature ‘excellent’ cut. Sandrine Conseiller, Chief Executive Officer of De Beers Brands, said: “The wholesale prices of lab-grown diamonds in the jewellery sector continue to decline, and we are pleased to pass on these savings to our customers. These lower prices will ensure that the brand remains competitive within this fast-evolving sector, while continuing to offer high quality lab-grown diamonds produced with 100 per cent renewable energy. Lightbox has always been committed to linear pricing, reflecting the linear cost of production, and to being transparent about what lab-grown diamonds are – and just as importantly – what they are not.

Swedish financial technology company Klarna said Tuesday that nearly 9 out of 10 employees in its 5,000-strong workforce are now using generative artificial intelligence tools in their daily work.

India signed an agreement to operate the Chabahar Port in Iran for 10 years, the United States has warned that «anyone» considering business deals with Tehran needs to be aware of the «potential risk of sanctions.» The US State Department Principal Deputy Spokesperson, Vedant Patel, however, also said that it will let the Indian government speak on its foreign policy goals. «We are aware of these reports that Iran and India have signed a deal concerning the Chabahar Port, I would let the government of India speak to its own foreign policy goals, vis-a-vis the Chabahar Port as well as its own bilateral relationship with Iran,» Vedant Patel said in the press briefing on Monday (local time).

Cognizant workers refusing to return to office, the axe may be about to fall. The Nasdaq-listed company has warned defiant employees that they may be fired for not turning up, becoming the first large IT firm to invoke termination to repopulate office spaces. In a letter to employees in mid-April, Cognizant Technology Solutions Corp.

AAUM) of the northeastern states has grown by nearly 145 per cent from 2020 to touch Rs 40,324 crore in March 2024, up from Rs 16,446 crore in March 2020, indicating a growing appetite among investors from smaller towns and cities to invest in mutual funds. The share of the northeastern states increased to 0.73 per cent of the total AAUM of the mutual fund industry, which stood at Rs 55.01 lakh crore in March 2024, up from around 0.67 per cent in March 2020, when the industry’s AAUM stood at Rs 24.71 lakh crore. Though the contribution of these states to the total AAUM of the industry is still small in percentage terms, there has been a steady and consistent growth in mutual fund inflows in these states backed by increasing awareness among people and the growing interest among retail investors for investing in equities through the mutual fund route, Ashwini Kumar, Senior Vice President and Head Market Data, ICRA Analytics, said.

unusual advertisement in a local newspaper. In the ad, the family is seeking a suitable ‘spirit’ groom for their daughter, who died thirty years ago. The family seeks a groom to carry out a tradition known as ‘Kule Madime’ or ‘Pretha Maduve’.

External Affairs Minister S Jaishankar on Monday said the Congress holds Prime Minister Narendra Modi accountable for the mistakes made by first prime minister Jawaharlal Nehru when making comments on China while believing the party has no culpability for the past acts.

HPR will help in policy making. The data will be dynamic and can be analyzed in many ways.

Canara Bank where he had his salary account. Kumar, a chartered accountant by profession, was promised by his bank relationship manager (RM) that his home loan of ₹70 lakh and home improvement loan of ₹8 lakh would be approved without any hassle. But there was one condition—Kumar should help the RM achieve his monthly target by agreeing to get the loan sanctioned a month in advance.

economic advisor to Nepal's President Ram Chandra Paudel has resigned after his controversial remarks on the government's decision to issue new hundred-rupee notes with a map that includes three Indian territories, a move already rejected by India. The President approved Chiranjivi Nepal's resignation on Sunday, according to a press release issued by the Office of the President.

AAUM) of northeastern states have grown by 145% from Rs 16,446 crore in March 2020 to Rs 40,324 crore in March 2024. This indicates a growing appetite among investors from smaller towns and cities to invest in mutual funds, according to a report by ICRA Analytics. The share of the northeastern states has increased to 0.73% of the total AAUM of the mutual fund industry and stood at Rs 55.01 lakh crore in March 2024. This has increased from around 0.67% in March 2020, when the industry’s AAUM stood at Rs 24.71 lakh crore. “Though the contribution of these states to the total AAUM of the industry is still small in percentage terms, there has been a steady and consistent growth in mutual fund inflows in these states backed by increasing awareness among people and the growing interest among retail investors for investing in equities through the mutual fund route, said Ashwini Kumar, Senior Vice President and Head Market Data, ICRA Analytics.

market around the expected margin of victory. It is too early to say but looking at previous elections the patterns look somewhat similar, namely, high expectations in the beginning, some nervousness during and a positive end. At the end of the day the market is still expecting the incumbent government to win and secure policy stability/continuity.

Srinivas Pallia replaced Thierry Delaporte in the corner room of Bengaluru-headquartered Wipro Ltd, the company is attempting to settle lawsuits it had filed against two former senior executives, according to a review of court filings and two executives aware of the development. Jatin Dalal, former chief financial officer of Wipro, and Mohd Ehteshamul Haque, the company’s former senior vice president and head of healthcare and medical devices business, were sued by India’s fourth-largest IT services company for breach of employment contracts. Both had joined rival Cognizant Technology Solutions Corp less than 12 months after resigning from Wipro.