Page 14 - Business

Taro stake buyout to help operate dermatology biz profitably: Sun Pharma

Sun Pharma is looking to fully acquire its Israel-based unit Taro Pharmaceutical Industries in order to integrate the dermatology business with itself and keep it profitable amid increasing competition in the segment, according to Managing Director Dilip Shanghvi. The Mumbai-based drug major has proposed to fully acquire Taro through a reverse triangular merger. The company has issued a letter to the Taro board with a proposal containing a non-binding indication of interest to acquire all of the outstanding ordinary shares for a purchase price of USD 38 per ordinary share in cash. Sun Pharma currently owns around 78 per cent stake in Taro. "My own assessment is that the dermatology business, which is the primary focus for Taro, is a business under constant, increasing competition pressure," Shanghvi said in an analyst call. He further said: "And as a stand-alone company, it will be very difficult for Taro as an independent company to continue to operate that business profitably. S

Important to remove bias rather than woman tag: Women leaders in tech

Women in corporate India believe that removing the bias attached to women entrepreneurs and leaders is more important than shedding the tag itself, as females in the workforce are a role model for others who follow in their footsteps. On the occasion of Women Equality Day, women leaders in tech, that PTI spoke to, said their journey reflects opportunity, determination as well as a responsibility, and hence they would not want to shed the "woman" label. Mintoak chief product officer Rama Tadepalli said it would be better to "retain the woman tag and remove the bias." "I don't want to actively shed the label, as I've come to understand that when a woman achieves success, whether as an employee, entrepreneur, or in any capacity, she assumes a role with both opportunities and responsibilities." Edelweiss Asset Management Limited MD and CEO Radhika Gupta said. This entails being a role model for other women who observe the journey and the generations that follow, she added. SUGAR Cosme

Hindenburg 2.0? Soros-backed OCCRP said to be planning another 'expose'

Months after a US short seller shook markets with a damning report on the Adani group, the Organised Crime and Corruption Reporting Project (OCCRP) - an organisation funded by likes of George Soros and Rockefeller Brothers Fund - is said to be planning another 'expose' on certain corporate houses in India, sources said. OCCRP, which calls itself "an investigative reporting platform formed by 24 nonprofit investigative centres... spread across Europe, Africa, Asia and Latin America, may publish a report or a series of articles, three sources with knowledge of the matter said. An email sent to OCCRP seeking comments remained unanswered. Founded in 2006, OCCRP claims to specialize in reporting on organized crime and largely publishes these news articles through partnerships with media houses. On its website, it identifies the Open Society Foundations of George Soros, a financier with a penchant for funding radical causes around the world, as one of the institutional donors. Others ...

Business ideas under 3 lakh: Here's how you can set up your own business

Setting up a business is not a tough nut to crack, as all you need is a business idea and dedication to build something on your own. Here are the 5 business ideas under Rs 3 lakh

ESG will help companies create sustainable business culture: Experts

Environmental, social and governance (ESG) will help companies create a sustainable business culture which goes beyond wealth creation, leading executives of companies said on Tuesday. ESG reporting landscape is rapidly changing at the global level owing to ever increasing challenges and re-orientation of the corporations, they said. Speaking at a CII event here, managing director of Linde India Abhijit Banerjee said with increasing challenges arising out of ESG dimensions, business leaders in India see a merit to reorient their corporate purpose and extend beyond wealth creation into broader themes that its key stakeholders are concerned with. Banerjee said in the present world, sustainability is something that investors are demanding, customers are expecting and employees are valuing. "Leadership has to play a key role in implementing sustainable business culture in an organisation. The leadership indicators focus on providing a broader picture of the company's operations in term

ReNew Energy records Rs 298.3 crore net profit in April-June quarter

ReNew Energy Global Plc on Saturday reported a net profit of Rs 298.3 crore in the April-June quarter of 2023-24 against a loss of Rs 10.4 crore in the year-ago period. Total income was Rs 2,465.9 crore in the first quarter of FY24 against Rs 2,500.7 crore in April-June 2022, according to a company statement. Days Sales Outstanding -- the average number of days that it takes for a company to collect payment after a sales-- ended Q1 FY24 at 114 days, a 118-day improvement year on year, it stated. "We are reiterating our FY24 guidance. The company expects to complete construction of 1,750 to 2,250 MW by the end of Fiscal Year 2024," it said. As of June 30, 2023, the company's portfolio consisted of 13.7 GWs, a 6.3 per cent increase year on year, of which 8.4 GWs are commissioned and 5.3 GWs are committed. As much as 415 MWs commissioned in Q1 FY24, increasing its operating MWs to 8,395 MWs, an increase of 10 per cent. ReNew is India's leading decarbonisation solutions company liste

Create a Cosy & Sustainable Space with RESHA's Thermo Ash Wood Flooring

.

30% booksellers in Afghanistan shut shop due to lack of good market: Report

Abdul Wodod Mukhtarzada, member of commission, said that the booksellers have also complained about high taxes which are difficult to pay as their business has witnessed a decline

Improved capacity, reduced turnaround time: India's ports mean business

Major ports have added more than 100 million tonnes in additional traffic since 2014-15

Axita Cotton Limited Q1 2023 Quarter Analysis: A Stellar Rise in Profits and Promising Future Predictions

.

Air India's accumulated losses at FY23-end estimated at Rs 14,000 crore

Air India's losses include write-offs on old planes and engines and those on account of AirAsia India

Japan's minister Hayashi pitches for improvement in India's biz environment

Japan's Foreign Minister Yoshimasa Hayashi has pitched for improvement in the investment environment for Japanese firms operating in India with many of them seeking a more predictable, transparent and stable business climate in the country. A Japanese readout said Hayashi requested External Affairs Minister S Jaishankar for cooperation on improving the investment environment and for the early establishment of a joint crediting mechanism, during their talks on Thursday. Separately, deputy press secretary in Japan's foreign ministry Yukiko Okano said Hayashi met over lunch on Friday representatives of Japan Chamber of Commerce and Industry in India (JCCII) and officials of several Japanese companies operating in the country, and they apprised him about the issues. The Japanese foreign minister began his two-day visit to India on Thursday. "The view from the Japanese businesspeople here is that they would like to see a more predictable, transparent and stable business environment in .

China using coercive business practices for economic advantage: US

The diplomatic relations between China and US have been downgraded since the Chinese spy balloon incident

Ex-Japan PM Suga pitches for improving business environment in India

Ahead of his meeting with Prime Minister Narendra Modi here, former Japan Prime Minister Yoshihide Suga on Thursday said he will pitch for improving the business environment in India for companies from his country. Suga was scheduled to meet Modi later in the day. "I will convey to His Excellency (PM Modi) the request we have received from the business leaders who are accompanying us this time and are keen to improve the environment for Japanese companies to do business in India," Yoshihide said at an event organised by industry body FICCI. Addressing another event organised by industry body CII, the former Prime Minister of Japan said, he will continue to encourage the Japanese private sector to invest in India. In my meeting with Prime Minister Modi, I would like to ask him to improve the business environment in India, he added. He observed that Japan is in full agreement with the public and private sectors on the importance of strengthening ties with India. "Last year, the Jap

Digital consulting firm KaarTech raises $30 mn in funding from A91 Partners

Chennai-based B2B company says it will use money to expand business in international markets

Welspun India to see over two-fold rise in domestic business by 2026

During the last financial year, the company's income dipped by around 12 per cent to Rs 8,215 crore from Rs 9,377 crore in 2021-22

Meta, CAIT to upskill 1 mn traders on use of WhatsApp Business application

Meta on Monday announced it has partnered with the Confederation of All India Traders to upskill 10 lakh traders on how to use the WhatsApp Business App over the next three years in a bid to reach more customers and scale up their businesses. The owner of WhatsApp, Instagram and Facebook also announced the launch of Meta Small Business Academy, a new programme to enable emerging entrepreneurs to learn digital marketing skills and earn a certification. "A certification by Meta Small Business Academy will especially help new entrepreneurs and marketers gain critical digital marketing skills to grow on the Meta apps. To enable the programme to reach MSMEs across India, the course module and the examination are available in seven languages - English, Hindi, Marathi, Bengali, Kannada, Tamil, and Telugu," a release stated. Secretary General of the Confederation of All India Traders (CAIT) Praveen Khandelwal said with businesses of all sizes using WhatsApp to communicate, coordinate, and .

Twitter to focus on video and commerce in business revamp, deets inside

Twitter has some major plans to revitalize the company's business beyond digital advertising.According to an investor presentation by owner Elon Musk and new Chief Executive Linda Yaccarino, Twitter is likely to focus on video, creator and commerce partnerships, New York Post reported, citing Reuters.Yaccarino, who became the company's new CEO on June 5, recently told Twitter investors that the company is in early conversations with political and entertainment figures, payments services and news and media publishers, said a source familiar with the matter, who spoke on condition of anonymity to discuss a private investor call.The presentation marks Yaccarino's first meeting with the company's investors.After Musk acquired Twitter in October, the social media firm faced months of chaos, including layoffs of thousands of employees, criticism over lax content moderation, and an exodus of many advertisers who did not want their ads appearing next to inappropriate content.Some ad-buying ...

FROM A COVID START-UP TO AN UNSTOPPABLE SUCCESS

EMPOWERING THE WORKFORCE AND DRIVING INNOVATION

Traditional AI deployment of 70% companies has failed: BCG X executives

AI and GAI are beyond providing just efficiencies in data management, etc. It is about the transformation of business operations, said Sylvain Duranton, MD and senior partner, BCGX