Latest news with #BS
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Business Standard
8 hours ago
- Business
- Business Standard
E-commerce giant Flipkart offloads 6% stake in ABFRL; sells 73 mn shares
Carlyle Group affiliate firm, C A Dawn Investments, on Wednesday sold its entire 10.20 per cent in Indegene for ₹1,447 crore BS Reporter Flipkart Investments on Wednesday offloaded 6 per cent stake in Aditya Birla Fashion & Retail Ltd (ABFRL) for ₹588 crore. The e-commerce giant sold 73.17 million shares at ₹80.32 apiece. Shares of ABFRL fell nearly 11 per cent in secondary market trading to end at ₹76.8. Carlyle Group affiliate firm exits Indegene Carlyle Group affiliate firm, C A Dawn Investments, on Wednesday sold its entire 10.20 per cent in Indegene for ₹1,447 crore. It sold nearly 24.5 million shares at ₹591 apiece. Shares of Indegene fell 4.7 per cent to end at ₹590. Founder Kunhikannan sells 1.76% in Kaynes Ramesh Kunhikannan, founder, Kaynes Technology on Wednesday divested his 1.76 per cent stake in the firm. He sold 11.25 million shares at ₹5,551 apeice to raise ₹623 crore. Shares of Kaynes fell about a per cent to close at ₹5,730 crore. BS reporters Motilal Oswal Mutual Fund (MF) launched the first passive fund tracking the BSE 1000 index. The scheme Motilal Oswal BSE 1000 Index Fund, representing top 1000 listed companies offers exposure to about 94 per cent of the country's listed market capitalisation. The index at present has firms across 22 sectors. The top-10 stock weight is capped at 33 per cent to reduce concentration risk. Motilal Oswal is also in the process of finalising its plan to launch a scheme under the newly-introduced specialised investment fund (SIF) category in the next 6 months. Sekhmet Pharma appoints Santosh Mahil MD & CEO Private equity consortium led by PAG Sekhmet Pharmaventures has appointed Santosh Kumar Mahil (pictured) as the managing director (MD) and chief executive officer (CEO). Sekhmet is an investment platform that helps India's next generation of active pharmaceutical ingredient (API) companies. Mahil has nearly three decades of experience, having held leadership roles at Lupin, USV, Unichem, and Shilpa Medicare. BS reporter
Indian Express
6 days ago
- Politics
- Indian Express
Nepal observes 18th Republic Day as monarchists hold rally
Nepal observed its 18th Republic Day on Thursday as opposing political groups organised demonstrations for and against the federal democratic republic system established in 2008. The government mobilised around 6,000 security personnel to prevent possible clashes between the ruling CPN-UML and pro-monarchist groups led by Rastriya Prajatantra Party in the heart of the city. PM Oli, at the Republic Day celebrations in Bhrikuti Mandap, said the republic was an expression of the will of the people, and a 'Royal call' will have no effect against it. President Ram Chandra Poudel, taking cognisance of the organised anger of the people, called for a change of conduct. On the other hand, pro-monarchists led by the RPP organised a protest carrying the banners of former King Gyanendra's picture. RPP chair Rajendra Lingden and senior party leaders, including Pashupati Shumsher Rana, Kamal Thapa and Prakash Chandra Lohani, participated in the protests. May 29 marks the historic announcement of the federal democratic republic in Nepal, made by the first meeting of the Parliament on Jestha 15, 2065 BS (May 28, 2008), which ended the 240-year-old monarchy. Since then, Jestha 15 has been observed annually as Republic Day across the country. A high-security alert was sounded on Thursday to prevent any untoward incidents. Special security has been provided to key areas such as the Tribhuvan International Airport, Parliament, the Signdurbar Secretariat and the Prime Minister's residence at Baluwatar on the occasion.
New York Post
13-05-2025
- Business
- New York Post
NY AG Tish James proves she only cares about her own brand, not the little guy
Progressives love screwing over the little guy: Just look at state Attorney General Tish James' latest 'pro-consumer' move, the so-called 'FAIR Business Practices Act.' She's pushing the Legislature to pass it in the name of cracking down on junk fees, deed theft and other shady moves — but what it mainly does is offer new shakedown opportunities for shady lawyers. Groups repping New York small businesses are outraged at how it widens the rules around who is actually allowed to sue, and for what. It also radically expands the scope of what constitutes unlawful business conduct in the Empire State from 'deceptive' practices to 'unfair' and 'abusive' ones — categories with no real definition. That is: It replaces a clear, objective standard with a subjective one, and sets the stage for any low-rent legal shark to gin up a lawsuit that the right jury might buy. Big corporations can defend themselves against frivolous suits of this kind, but smaller companies can't — and will likely settle for cash. Such lawsuits already cost the US economy hundreds of billions a year, according to analysts; why on earth would James want to drive up that figure? Especially since the bill's supposed point is to protect consumers, who will end up paying the increased costs the new legal regime will bring. In New York, per one recent analysis, BS lawsuits already cost businesses some $88.6 billion a year — and James wants to supercharge the extortion. It's 'protection' we wouldn't wish on our worst enemy, in other words. But James has never been about actually helping the everyday New Yorkers who put her in office. She's all about enhancing her own political brand (and throwing a bone to the Dem-backing trial bar while she's at it). The interests of the voters she allegedly represents be damned.
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Business Standard
11-05-2025
- Business
- Business Standard
India Inc on high alert despite tensions with Pakistan under control
Companies unlikely to roll back employee safeguard measures in a hurry BS Reporters Mumbai | Delhi | Bengaluru | Chennai | Kolkata Listen to This Article The initial relief following Saturday evening's understanding between India and Pakistan proved short-lived. With reports of its violations by Islamabad emerging within hours, India Inc held back on updating employee advisories. Over the past few days, corporate India has taken several measures to safeguard employees amid rising tensions between the two countries — from altering shifts in sensitive areas and issuing travel advisories to activating crisis management teams. While Pakistan's Foreign Office on Sunday insisted the country remained 'committed' to faithfully implementing the understanding, the precautions put in place by Indian companies are unlikely to be rolled back quickly, especially
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Business Standard
06-05-2025
- Business
- Business Standard
India-UK FTA: From auto to textiles, India Inc hopes to reap benefits
Medical-device makers apprehensive due to the China factor BS Reporters Listen to This Article Bilateral trade between India and the United Kingdom (UK) will increase by 25.5 billion pounds with the sealing of their free-trade agreement (FTA), and it is expected to benefit sectors such as textiles, marine products, leather, gems and jewellery, footwear, and engineering goods, said companies and industry experts. It may also give an impetus to trade in services: Information technology, finance, and education. Trade between the two nations in 2024 stood at 42.6 billion pounds. However, some segments like medical devices raised concern over the possibility of the UK becoming a transshipment hub for Chinese products. Analysts say in the
