Latest news with #SanjeevKumarPanchal
Business Standard
2 days ago
- Business
- Business Standard
AstraZeneca Pharma slides as MD Sanjeev Panchal steps down; Praveen Rao Akkinepally to take charge
AstraZeneca Pharma India declined 1.57% to Rs 9,878 after the company said its managing director (MD), Sanjeev Kumar Panchal has resigned from his position with effect from the close of business on 30 June 2025. Panchal is set to transition to a global role within the AstraZeneca Group, based in Gaithersburg, Maryland, US. The board acknowledged his resignation and placed on record its appreciation for his contributions during his tenure. Following the recommendation of the nomination and remuneration committee, the board has approved the appointment of Praveen Rao Akkinepally as the new MD. He will take charge from 1 July 2025, for a term of three years. Akkinepally is a senior commercial leader with over two decades of experience across the US, global markets, and India, particularly in oncology and biopharmaceuticals. He has led several brand launches and driven global commercial strategies at AstraZeneca. His previous role as oncology business unit head for India saw significant growth in the companys market presence and a series of successful oncology product launches. Beyond his corporate achievements, he has contributed to healthcare policy through his work with the Federation of Indian Chambers of Commerce and Industrys cancer round tables. Akkinepally holds an MBA from the University of Michigans Ross School of Business and a masters in public health from Johns Hopkins University. AstraZeneca is a global biopharmaceutical company focused on the discovery, development, and commercialization of prescription medicines in four areas: Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Rare Diseases. It operates in over 100 countries. The company's standalone net profit rose 47.54% to Rs 58.25 crore, while revenue from operations rose 25.39% to Rs 480.48 crore in Q4 March 2025 over Q4 March 2024.
Business Standard
2 days ago
- Business
- Business Standard
Nifty above 25,100 level; media shares in demand
The key equity benchmarks traded with minor gains in morning trade. The Nifty traded above the 25,100 level. Media shares extended gains for the second consecutive session. At 10:30 IST, the barometer index, the S&P BSE Sensex, added 63.86 points or 0.08% to 82,509.07. The Nifty 50 index rose 41.90 points or 0.17% to 25,145.10. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.31% and the S&P BSE Small-Cap index added 0.37%. The market breadth was strong. On the BSE, 2,283 shares rose and 1,314 shares fell. A total of 194 shares were unchanged. The Nifty Media index rose 1.66% to 1,741.40. The index rose 2.09% in the past two consecutive trading sessions. Zee Entertainment Enterprises (up 3.36%), Network 18 Media & Investments (up 3.07%), Sun TV Network (up 2.05%), Hathway Cable & Datacom (up 0.95%), Tips Music (up 0.91%), Nazara Technologies (up 0.51%), D B Corp (up 0.39%), Saregama India (up 0.29%), and PVR Inox (up 0.29%) advanced. Stocks in Spotlight: AstraZeneca Pharma India shed 0.50%. The company said its managing director (MD), Sanjeev Kumar Panchal, has resigned from his position with effect from the close of business on 30 June 2025. Oberoi Realty rose 1.06%. The company said that Pankaj Gupta, chief executive officer (CEO) of commercial real estate and senior management personnel, has resigned from his position. RITES rose 0.50%. The company said that it has received a letter of acceptance (LoA) for a coastal road project from the Ministry of Public Works, the Co-operative Republic of Guyana, worth $2.908 million.
