Page 4 - Us Market

India opens market to US farming industry in 12 categories: Katherine Tai

India has opened up its market to the American farming industry in as many as 12 different categories, a top Biden administration trade official told lawmakers on Wednesday as some influential senators raised the issue of wheat and rice subsidies in India and alleged forced labour in the country's shrimp industry. US Trade Representative (USTR) Katherine Tie, responding to a series of questions from the senators during a congressional hearing on trade convened by the US Finance Committee, defended the Biden administration's actions. We are opening markets for hard-working American families and communities, especially our rural communities. Through negotiations, our administration has secured over USD 21 billion in new agricultural market access in the last three years, she said. For example, after the US and India terminated seven WTO disputes, India agreed to remove retaliatory tariffs on several US products. This means improved access for chickpeas, lentils, almonds, walnuts and .

Earnings of India's top 500 companies growing faster than US peers'

BSE500 companies' combined revenue growth, however, lagged S&P 500 firms' during trailing 12 months ended Dec 2023

Domestic drug firms to witness 8-10% revenue growth in FY25: Report

Revenue growth of leading 25 domestic drug firms is expected to moderate to 8-10 per cent in the next fiscal year, rating agency Icra said on Thursday. The revenue of the companies, which account for 60 per cent of the overall Indian pharmaceutical industry, witnessed an increase of 13-14 per cent in the current fiscal year. Following the high base of 2023-24, the revenue growth momentum from the US and Europe markets is expected to moderate to 8-10 per cent and 7-9 per cent, respectively, Icra said. The markets are expected to witness a year-on-year expansion of 18-20 per cent and 16-18 per cent, respectively, in the current fiscal year, it added. The domestic market, on the other hand, is expected to see a stable growth of 6-8 per cent, while the emerging markets may log an 8-10 per cent rise in FY25, against 16-18 per cent in FY24, the rating agency said. The revenue growth of the sample set companies in the US market in FY24 has been supported by increased new product launches

Goldman Sachs to resume commercial property investment in US market

The underlying strength of the U.S. economy should support a rebound in the US market too, although he cautioned about the speed of a recovery

The Magnificent 7

The current level of concentration of tech giants in US markets is unprecedented. Could this be a bubble in the making?

Sun Pharma recalls 55,000 bottles of generic drug to treat gout from US mkt

Drug major Sun Pharma is recalling around 55,000 bottles of a generic medication to treat gout from the American market due to manufacturing practices norms deviations, according to the US health regulator. The New Jersey-based unit of the Mumbai-based drug major is recalling Febuxostat Tablets in 40 mg and 80 mg strengths, US Food and Drug Administration (USFDA) said in its latest Enforcement Report. Sun Pharmaceutical Industries Inc is recalling 47,520 bottles (40mg) and 7,488 bottles (80 mg) respectively of the medication due to Current Good Manufacturing Practice regulations (CGMP) deviations, it stated. "Microbial contamination was reported in stagnant water in the duct of the manufacturing equipment," the USFDA stated. The affected lot was produced at Sun Pharma's Dadra-based plant for Memphis-based Northstar Rx LLC, the US regulator noted. Febuxostat is used to lower uric acid levels in people with gout. As per the USFDA, the company has initiated the Class II nationwide (

What's behind the US market disconnect?

The rally is fuelled by the expectation that AI will remain unregulated, but there is little reason to believe it can last

Regulatory nod for US spot bitcoin ETF options may take months: Report

The Securities and Exchange Commission (SEC) last month approved spot bitcoin ETFs, in a watershed for the crypto industry

Sun Pharma to acquire remaining stake in Israeli firm Taro for Rs 2,892 cr

Merger would pave the way for Sun to consolidate its position in the US market, say analysts

US pipeline to keep pharma major Lupin's revenues on healthy trajectory

The stock of pharma major Lupin is up 14 per cent over the last eight trading sessions and is trading at Rs 1,406 a share. The gains are on expectations that margins will improve

US 10-year yield poised to end 2023 at almost exactly where it started

It's an almost farcical conclusion to 12 months of trading that saw rates on the benchmark - a global anchor for markets and US mortgage rates - tumble to as low as 3.25 per cent

Air compressor maker Elgi Equipments seeks $450 mn revenue by FY26

US market holding well because of the country's investments in infrastructure, says senior executive

Best of BS Opinion: Increasing populism, No appetite for food safety & more

Here is the best of Business Standard's opinion pieces for today

'Risk-on' for markets

The stock markets may rise over the short term, but it is too early to conclude that the 'worst is over' for the US economy

Vummidi Bangaru Jewellers forays into US market, to invest Rs 1,850 cr

Over century-old noted jewellery retailer Vummidi Bangaru Jewellers has forayed into the United States market with the launch of a new store in Dallas, the company said on Wednesday. Over the next three years, the company has planned to strengthen its presence with three more stores in the US and eight in Tamil Nadu with an investment of Rs 1,850 crore. With the foray into the United States, the jeweller plans to garner USD 100 million in revenue in a year and expects at least 30 per cent of this to contribute to the overall business in the next three years. "The first store in Dallas is a testimony to the fact of what our customers need in the United States. Each and every piece of jewellery reflects the ethos of VBJ in quality, contemporary style, and design," Vummidi Bangaru Jewellers Managing Partner Amarendran Vummidi said. "We are planning to open three more in Chicago, Virginia and California in the next three years," he said on the expansion plan. The facility in Dallas, .

Sensex sinks 826 pts, Nifty ends below 19,300; SmallCap index slides 4%

Stock market live on October 23, 2023: At 7:15 am, the Gift Nifty futures were nearly flat at 19,520 levels

Sensex, Nifty end lower for 2nd day; Tata Motors jumps 5%, Infy slides 2%

Closing Bell on Friday, October 13, 2023: Among sectors, the Nifty PSU Bank index fell 1.4 per cent, while the Nifty Auto index gained 0.88 per cent

Rupee falls 2 paise to settle at an all-time low of Rs 83.27 per US dollar

The rupee had settled at the same level on September 18

Sun Pharma, Aurobindo recall drugs from US market due to mfg issues

Leading drug makers Sun Pharmaceutical Industries and Aurobindo Pharma are recalling products from the US market due to manufacturing issues, according to the US Food & Drug Administration. As per the latest Enforcement Report issued by the American health regulator, a US-based subsidiary of Mumbai-based Sun Pharma is recalling 69,707 cartons of Cequa (cyclosporine ophthalmic solution) from the US market. The medication is used for the treatment of dry eyes. New Jersey-based Sun Pharmaceutical Industries Inc is recalling the product for being "Subpotent', USFDA stated. The company initiated the nationwide (US) Class III recall on September 7 this year. As per the USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse health consequences". The US health regulator stated that Aurobindo Pharma is recalling 9,890 bottles of Rasagiline Tablets, a medication indicated for the treatment of Parkinson's ..

SBI to take YONO to US, looks at 5% loan growth in global operations

Its global loan book had expanded by 7.44 per cent YoY till the end of June 2023