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Economic Times
4 days ago
- Business
- Economic Times
Adani bull GQG raises stake in ITC to 5.47% following BAT's partial exit
US-based investment firm GQG Partners has increased its stake in ITC Ltd, one of India's largest consumer goods companies, through a bulk deal on May 28. The move comes just days after British American Tobacco (BAT), ITC's largest shareholder, sold a portion of its holding. ADVERTISEMENT In a regulatory filing, GQG disclosed that it acquired an additional 0.51% stake in ITC, taking its total holding to 5.47% of the company's paid-up capital. Before this acquisition, GQG and persons acting in concert (PACs) held 4.96% in ITC. The deal was executed through the stock exchange on May 28 and settled on May 29. GQG Partners LLC, led by investor Rajiv Jain, acted as the investment manager for the entities involved and made the investment decisions on their behalf. The shares acquired are fully paid-up equity shares with a face value of Rs 1 each. The timing of this acquisition is notable. It came just after BAT sold 2.5% of its stake in ITC for approximately Rs 12,900 crore through block deals. BAT, a long-term strategic investor in ITC, reduced its stake from 25.4% to 22.9% following this sale. Despite the reduction, BAT remains ITC's largest stated that the proceeds from the stake sale will go toward enhancing its existing share buyback programme, which now stands at £1.1 billion for is not the first time BAT has pared its stake in ITC. In March 2023, the UK-based tobacco giant sold 3.5% of its holding to institutional investors via block deals. ADVERTISEMENT ITC, a diversified conglomerate headquartered in Kolkata, operates across sectors such as FMCG, hotels, paperboards, packaging, and agribusiness. Its stock is widely held by both domestic and foreign institutional investors and is considered a key component of many long-term GQG's latest purchase, market watchers believe the institutional interest in ITC remains strong, even as legacy shareholders like BAT unlock value. Analysts suggest this increased participation could help improve liquidity and strengthen ITC's positioning among global funds. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
4 days ago
- Business
- Time of India
Adani bull GQG raises stake in ITC to 5.47% following BAT's partial exit
US-based investment firm GQG Partners has increased its stake in ITC Ltd , one of India's largest consumer goods companies, through a bulk deal on May 28. The move comes just days after British American Tobacco (BAT), ITC's largest shareholder, sold a portion of its holding. In a regulatory filing, GQG disclosed that it acquired an additional 0.51% stake in ITC, taking its total holding to 5.47% of the company's paid-up capital. Before this acquisition, GQG and persons acting in concert (PACs) held 4.96% in ITC. The deal was executed through the stock exchange on May 28 and settled on May 29. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo GQG Partners LLC, led by investor Rajiv Jain, acted as the investment manager for the entities involved and made the investment decisions on their behalf. The shares acquired are fully paid-up equity shares with a face value of Rs 1 each. The timing of this acquisition is notable. It came just after BAT sold 2.5% of its stake in ITC for approximately Rs 12,900 crore through block deals. BAT, a long-term strategic investor in ITC, reduced its stake from 25.4% to 22.9% following this sale. Despite the reduction, BAT remains ITC's largest shareholder. BAT stated that the proceeds from the stake sale will go toward enhancing its existing share buyback programme, which now stands at £1.1 billion for 2025. Live Events This is not the first time BAT has pared its stake in ITC. In March 2023, the UK-based tobacco giant sold 3.5% of its holding to institutional investors via block deals. ITC, a diversified conglomerate headquartered in Kolkata, operates across sectors such as FMCG, hotels, paperboards, packaging, and agribusiness. Its stock is widely held by both domestic and foreign institutional investors and is considered a key component of many long-term portfolios. With GQG's latest purchase, market watchers believe the institutional interest in ITC remains strong, even as legacy shareholders like BAT unlock value. Analysts suggest this increased participation could help improve liquidity and strengthen ITC's positioning among global funds.
Time of India
20-05-2025
- Politics
- Time of India
Government extends tenure of Intelligence Bureau director Tapan Kumar Deka
NEW DELHI: (IB) director was on Tuesday granted a second one-year extension, which will make him the longest serving head of the since the IB chief's tenure was fixed at two years in 2005. Tired of too many ads? go ad free now Deka's fourth year at the IB's helm comes in the wake of the success of , undertaken by the armed forces in retaliation to the killing of 26 civilians in a terror attack in J&K's Pahalgam. Nine terror bases in PoK and deep inside Pakistan were hit under the operation and it eventually saw the armed forces strike Pakistan's key military assets, including an air defence system in Lahore and the Nur Khan airbase in Rawalpindi. Deka, 62, is a 1988-batch IPS officer of the Himachal Pradesh cadre. A counter-terrorism expert, he was appointed as IB director in June 2022, and granted a year's extension upon completion of his two-year tenure in June 2024. On Tuesday, the Appointments Committee of the Cabinet approved yet another one-year extension beyond June 30, 2025, or until further orders, whichever is earlier. The extension was granted in relaxation of the provisions of Fundamental Rule 56(d) — which bars extension in service beyond 60 years of age — and as per Rule 16 (1A) of the All India Services (Death cum Retirement Benefits) Rules, 1958, which grants the Centre power to extend the service of specified high-ranking officials 'in the public interest'. Earlier, his predecessors Rajiv Jain and Arvind Kumar were granted six-month and one-year extensions, respectively, beyond their fixed terms. Known as an 'operations man' in the intelligence fraternity, Deka is considered an expert in 'operations' in J&K as well as in the northeast region of the country. Deka was in charge of the counter-assaults during the 26/11 Mumbai terror attacks in 2008. With a rich experience in tackling and Islamic radicalisation, Deka has led operations against the Indian Mujahideen — the terror group behind multiple serial blasts across India — that led to neutralisation of its top cadre based in India, breaking the outfit's back. Deka was also deputed in his home state Assam to handle the volatile situation that arose following large-scale violence after the enactment of the Citizenship (Amendment) Act in 2019.
Time of India
13-05-2025
- Health
- Time of India
Young gym-goers developing severe hip conditions due to protein powders and steroids, warn health experts
Indian orthopaedic experts are reporting a disturbing rise in hip problems among young gym-goers, linking it to steroid misuse and unregulated protein supplements. Doctors are seeing cases of avascular necrosis and early hip degeneration in individuals as young as their early 20s. Tired of too many ads? Remove Ads Sharp rise in hip disorders in early adulthood Steroid-tainted supplements sold without oversight Tired of too many ads? Remove Ads Unnatural gains, irreversible damage Fitness industry lacks checks and awareness Call for caution and education A growing number of young gym-goers in India are suffering from serious hip problems due to misuse of steroids and unregulated protein supplements , according to leading orthopaedic experts who spoke at the Delhi Hip 360 conference held on Sunday, a TOI report reported a rise in avascular necrosis (AVN) and early hip degeneration—conditions typically seen in older people—now being diagnosed in individuals as young as their early 20s. Many of these cases are linked to unsupervised use of anabolic steroids and consumption of unauthorised protein L Tomar, organising chairman of the Delhi Hip 360 conference and senior director at Max Hospital, said, "We are observing a significant surge in hip-related complaints among young patients in recent years. Every week in my OPD, I see 2-3 patients under the age of 30 — many in their early 20s — complaining of persistent hip pain. Investigations often reveal avascular necrosis, a condition where blood supply to the hip bone is compromised, leading to bone death. In over 70% of these cases, there is a history of anabolic steroid use or excessive consumption of unverified protein powders."Medical studies now show that alcohol and steroid use are two of the main contributors to AVN among young adults. Doctors said the femoral head—the upper part of the thigh bone that fits into the hip socket—is especially vulnerable to poor blood circulation caused by steroid inspections by the Maharashtra Food & Drugs Administration revealed that several brands of protein powders sold online and in gyms contained banned performance-enhancing steroids. These products were found to be easily available without proper authorisation or has a large unregulated market for muscle-building supplements, often promoted through gyms and social media. Health experts say this is encouraging youth to seek quick fitness results without medical supervision, putting their skeletal health at Rajiv Jain, chief coordinator of Delhi Hip 360 and a senior orthopaedic surgeon, said, "Steroids, especially when misused or consumed unsupervised, directly impact blood supply to the bones. The femoral head, being the most vulnerable, is often the first to suffer. It begins with pain, stiffness and limping, and in many cases, leads to complete collapse of the hip joint. Hip replacements are required for patients whose condition cannot be treated using medications."Doctors noted that AVN is often irreversible unless detected early. For advanced cases, the only treatment option is total hip replacement—a surgery usually performed on elderly patients. However, doctors are now seeing this procedure being increasingly used for urban shared at the conference, held at Hotel Ashoka in Delhi, showed that over 30% of AVN patients treated in the city's top hospitals in the last three years were under the age of 35. Most of these cases were linked to steroids taken either orally, by injection, or through supplement Sharad Agarwal, scientific chairman of the conference, said, "The youngsters are misled into believing that bigger muscles equal better health. What they don't realise is that behind that muscle, their bones might be silently deteriorating."He added, "We urgently need awareness drives, regulation of supplement markets and basic orthopaedic screening at gyms. The message is clear: fitness should not come at the cost of mobility. The youth of India need better guidance to build their bodies—without breaking their hips."Medical professionals urged gym trainers, influencers, and fitness centre operators to educate clients about the dangers of taking shortcuts through steroids and unauthorised supplements. They stressed the importance of promoting safe, supervised training methods that support natural body concluded that without proper intervention and awareness, hip disorders among India's youth could become a serious long-term public health concern.
Economic Times
13-05-2025
- Health
- Economic Times
Young gym-goers developing severe hip conditions due to protein powders and steroids, warn health experts
A growing number of young gym-goers in India are suffering from serious hip problems due to misuse of steroids and unregulated protein supplements, according to leading orthopaedic experts who spoke at the Delhi Hip 360 conference held on Sunday, a TOI report stated. ADVERTISEMENT Doctors reported a rise in avascular necrosis (AVN) and early hip degeneration—conditions typically seen in older people—now being diagnosed in individuals as young as their early 20s. Many of these cases are linked to unsupervised use of anabolic steroids and consumption of unauthorised protein powders. Dr L Tomar, organising chairman of the Delhi Hip 360 conference and senior director at Max Hospital, said, "We are observing a significant surge in hip-related complaints among young patients in recent years. Every week in my OPD, I see 2-3 patients under the age of 30 — many in their early 20s — complaining of persistent hip pain. Investigations often reveal avascular necrosis, a condition where blood supply to the hip bone is compromised, leading to bone death. In over 70% of these cases, there is a history of anabolic steroid use or excessive consumption of unverified protein powders." Medical studies now show that alcohol and steroid use are two of the main contributors to AVN among young adults. Doctors said the femoral head—the upper part of the thigh bone that fits into the hip socket—is especially vulnerable to poor blood circulation caused by steroid misuse. Recent inspections by the Maharashtra Food & Drugs Administration revealed that several brands of protein powders sold online and in gyms contained banned performance-enhancing steroids. These products were found to be easily available without proper authorisation or labelling. India has a large unregulated market for muscle-building supplements, often promoted through gyms and social media. Health experts say this is encouraging youth to seek quick fitness results without medical supervision, putting their skeletal health at risk. Dr Rajiv Jain, chief coordinator of Delhi Hip 360 and a senior orthopaedic surgeon, said, "Steroids, especially when misused or consumed unsupervised, directly impact blood supply to the bones. The femoral head, being the most vulnerable, is often the first to suffer. It begins with pain, stiffness and limping, and in many cases, leads to complete collapse of the hip joint. Hip replacements are required for patients whose condition cannot be treated using medications." ADVERTISEMENT Doctors noted that AVN is often irreversible unless detected early. For advanced cases, the only treatment option is total hip replacement—a surgery usually performed on elderly patients. However, doctors are now seeing this procedure being increasingly used for urban youth. Research shared at the conference, held at Hotel Ashoka in Delhi, showed that over 30% of AVN patients treated in the city's top hospitals in the last three years were under the age of 35. Most of these cases were linked to steroids taken either orally, by injection, or through supplement misuse. Dr Sharad Agarwal, scientific chairman of the conference, said, "The youngsters are misled into believing that bigger muscles equal better health. What they don't realise is that behind that muscle, their bones might be silently deteriorating." ADVERTISEMENT He added, "We urgently need awareness drives, regulation of supplement markets and basic orthopaedic screening at gyms. The message is clear: fitness should not come at the cost of mobility. The youth of India need better guidance to build their bodies—without breaking their hips." Medical professionals urged gym trainers, influencers, and fitness centre operators to educate clients about the dangers of taking shortcuts through steroids and unauthorised supplements. They stressed the importance of promoting safe, supervised training methods that support natural body development. Doctors concluded that without proper intervention and awareness, hip disorders among India's youth could become a serious long-term public health concern.
