Latest news with #AdityaBhagchandani
Business Upturn
9 hours ago
- Business
- Business Upturn
Thomas Cook India partners with Muthoot Group to expand reach of Borderless and Study Buddy forex cards
By Aditya Bhagchandani Published on May 31, 2025, 14:10 IST In a strategic move to widen its distribution network and tap into India's growing demand for international travel and education, Thomas Cook (India) Limited has announced a partnership with Muthoot Forex, the foreign exchange arm of Muthoot Group. The alliance aims to enhance accessibility to Thomas Cook's prepaid forex card offerings—Borderless Travel and Study Buddy Cards—across the country, especially in Tier 2 to Tier 4 cities. As part of this agreement, Thomas Cook will leverage Muthoot Group's extensive nationwide network, which includes over 7,000 branches and 43 fully operational forex outlets. The initiative is expected to significantly broaden the cards' footprint and simplify access for travellers and students preparing for international journeys. Product overview: The Borderless Travel Card supports 12 global currencies and can be used at over 70 million merchant outlets in more than 200 countries. It offers features like complimentary airport lounge access, SIM cards, insurance coverage, and emergency cash assistance. The Study Buddy Card, designed specifically for students heading abroad, comes with an ISIC card, global SIM, zero markup on base currency, ATM withdrawals, and exclusive student-focused benefits. Commenting on the development, Deepesh Varma, EVP – Foreign Exchange, Thomas Cook (India) Ltd., stated, 'This partnership is a strategic initiative to deepen our reach in emerging markets. It brings together Thomas Cook's legacy in travel and forex with Muthoot Group's extensive physical footprint, allowing us to serve more Indian customers with convenient and secure forex card solutions.' With this collaboration, Thomas Cook India aims to reinforce its omnichannel approach and expand its presence across the country, offering seamless financial and travel services tailored for both leisure and student travellers. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
a day ago
- Business
- Business Upturn
Alembic Pharmaceuticals shares in focus after USFDA nod for cancer drug Bosutinib
By Aditya Bhagchandani Published on May 30, 2025, 12:04 IST Shares of Alembic Pharmaceuticals may be in focus after the company announced that it has received final approval from the US Food & Drug Administration (USFDA) for its generic Bosutinib Tablets in 100 mg and 500 mg strengths. Bosutinib is indicated for the treatment of adult patients with chronic, accelerated, or blast phase Philadelphia chromosome-positive (Ph+) chronic myelogenous leukemia (CML) who are resistant or intolerant to prior therapy. According to IQVIA data, the estimated market size for Bosutinib Tablets in the US stood at USD 291 million for the twelve months ending March 2025. Alembic stated that the approved product is therapeutically equivalent to Bosulif Tablets, originally marketed by PF Prism C.V. With this latest nod, Alembic has received a cumulative total of 223 ANDA approvals from the USFDA, comprising 200 final approvals and 23 tentative approvals. This development reinforces Alembic's commitment to expanding its oncology portfolio in the US generics market. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
a day ago
- Business
- Business Upturn
Adani Ports raises Rs 5,000 crore via 15-year NCDs to extend debt maturity profile
By Aditya Bhagchandani Published on May 30, 2025, 12:21 IST Adani Ports and Special Economic Zone Ltd (APSEZ) on May 30 announced that it has raised ₹5,000 crore through the issuance of rated, listed, secured, redeemable, non-convertible debentures (NCDs) with a 15-year tenure. The NCDs were issued at a coupon rate of 7.75% per annum and were fully subscribed by the Life Insurance Corporation of India (LIC). This is the longest-tenure domestic issuance by APSEZ till date and one of the longest in Indian capital markets. The move extends the company's average debt maturity from 4.8 years to 6.2 years, as part of its capital management plan focused on diversifying funding sources, lowering borrowing costs, and maintaining financial flexibility. The funds raised are proposed to be used for a buyback of APSEZ's USD bonds, subject to board approval on May 31, 2025. The debentures will be listed on the BSE's wholesale debt market segment. CEO Ashwani Gupta said the initiative aligns with APSEZ's long-term vision of becoming the world's largest integrated transport utility. The company has set a cargo handling target of 1 billion tonnes by FY30, supported by expansions in its logistics and marine businesses. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
2 days ago
- Business
- Business Upturn
Antony Waste shares jump over 5% after strong Q4 results
By Aditya Bhagchandani Published on May 30, 2025, 10:11 IST Shares of Antony Waste Handling Cell surged 5.19% to ₹639.10 in morning trade on May 30 after the company posted a strong set of results for the March quarter and the full fiscal year FY25. The company's total operating revenue for Q4FY25 stood at ₹223 crore, marking a 14% year-on-year growth. EBITDA jumped 33% to ₹58 crore, with the EBITDA margin improving to 23%, up by 300 basis points from a year ago. Net profit rose to ₹46 crore from ₹30.2 crore, reflecting a 53% YoY increase. For the full fiscal year FY25, the company reported total revenue of ₹841.5 crore, up 10% from the previous year, while EBITDA came in at ₹220.2 crore, showing a 9% increase year-on-year. Operational highlights included the sale of approximately 45,200 tonnes of Refuse Derived Fuel (RDF) and 4,500 tonnes of compost in Q4, with compost sales witnessing a massive 165% YoY growth. The company's Pimpri-Chinchwad Waste-to-Energy (WtE) plant achieved a high plant load factor of ~82%, while its construction and demolition waste recycling unit hit a 96% recycling rate. The company also received ₹27.86 crore following a favourable ruling from the Bombay High Court, bolstering its financials for the year. The market responded positively to the company's continued operational efficiency and emphasis on sustainability, contributing to today's sharp upmove in the stock. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
2 days ago
- Business
- Business Upturn
AstraZeneca Pharma receives CDSCO nod for expanded use of Fasenra in India
By Aditya Bhagchandani Published on May 30, 2025, 09:25 IST AstraZeneca Pharma India Limited has received approval from the Central Drugs Standard Control Organisation (CDSCO) to import and distribute Benralizumab (brand name: Fasenra) in India for an additional medical indication. The newly approved indication allows Fasenra to be used as an add-on treatment for adult patients suffering from relapsing or refractory eosinophilic granulomatosis with polyangiitis (EGPA). This rare autoimmune condition is known to cause inflammation of blood vessels, leading to organ damage. AstraZeneca confirmed the development in a regulatory filing to the stock exchanges on May 29, 2025, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements. The company stated that while the permission paves the way for marketing Fasenra in India for the newly approved indication, it remains subject to receipt of additional statutory clearances if required. Fasenra is already approved in India for other eosinophilic conditions, and this marks an important expansion in its therapeutic scope, potentially benefiting more patients with complex immunological diseases. 'The receipt of this permission paves way for the marketing of Benralizumab 30 mg/ml Solution for Injection (Brand name: Fasenra) in India for the specified additional indication,' the company noted in the filing. The company secretary Manasa R signed off the communication to both BSE and NSE. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
