Industry

Chandan Taparia of Motilal Oswal Securities has a buy call on Hindalco Industries Ltd. with a target price of Rs 220.0 . The current price of Hindalco Industries Ltd. is Rs 208.35 . Chandan Taparia recommended to keep a stoploss at Rs 202 . Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 46796.26 Crore) operating in Metals - Non Ferrous sector. Hindalco Industries Ltd. key Products/Revenue Segments include Aluminium which contributed Rs 23610.88 Crore to Sales Value (51.60 % of Total Sales), Copper/Copper Products which contributed Rs 22138.28 Crore to Sales Value (48.39 % of Total Sales)for the year ending 31-Mar-2019. For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 29657.00 Crore, down -1.05 % from last quarter Sales of Rs 29972.13 Crore and down -8.77 % from last year same quarter Sales of Rs 32507.00 Crore Company has reported net profit after tax of Rs 973.00 Crore in latest … [Read more...] about Buy Hindalco Industries, price target Rs 220: Chandan Taparia

NEW DELHI: India scored an important success when it fully protected its traditional knowledge by stalling a leading UK-based laboratory's move to patent a medicinal composition containing turmeric, pine bark and green tea for treating hair loss. The move comes just days after India foiled a similar attempt by US-based consumer goods giant Colgate-Palmolive from patenting a mouthwash formula containing herbal extracts. The vigilance of the Traditional Knowledge Digital Library (TKDL) of the Council of Scientific and Industrial Research (CSIR) helped protect the Indian products as the council in its submission to the European Patent Office managed to prove that turmeric, pine bark and green tea were being used as a treatment for hair loss in Indian systems of medicine like Ayurveda and Unani since ancient times. The UK-based company - Pangaea Laboratories Limited - had filed the patent application in February, 2011. The CSIR-TKDL unit had, however, objected to it and filed evidence on … [Read more...] about India wins patent war on hair loss formula

New Delhi: India invoked extraordinary powers in public interest for the first time to grant a 50% increase in the prices of 21 drug formulations, including ascorbic acid (Vitamin C) tablets, certain antibiotic tablets and syrups, medicines to treat leprosy and malaria and BCG vaccines, citing higher ingredient costs. The National Pharmaceuticals Pricing Authority (NPPA) invoked paragraph 19 of the Drug Prices Control Order, which until now has been used only to reduce the prices of stents and knee implants. Industry lobby groups had met senior officials of the Department of Pharmaceuticals, urging them to increase the prices of these formulations, ET had reported on December 12. NPPA deliberated upon the matter and issued the notification on Friday. With the cost of raw material imported from China increasing 50-200%, pharmaceutical lobby groups had approached the government to invoke extraordinary powers and increase the prices of drugs. Over 70% of India’s bulk drug … [Read more...] about NPPA hikes 21 formulations’ prices by 50%

CANNES: On day four at the Oscars of advertising, Cannes Lions, digital ad agency Dentsu Webchutney added three more Bronze Lions to its kitty. The agency’s work ‘Hagglebot’ for ecommerce major Flipkart won over judges in Brand Experience & Activation Winners and Creative e-Commerce categories. The agency’s campaign ‘Voice Of Hunger’ for food delivery app Swiggy bagged the third bronze Lion in Mobile. Interestingly, as industry watchers have pointed out, what sets the work apart is that neither campaign is cause or purpose-led. It is also the first time that a relatively young, Indian digital agency brand has had the most stellar performance at Cannes Lions. Commenting on the agency’s show at Cannes Lions so far, Sidharth Rao, CEO and co-founder Dentsu Webchutney, tells ET, “While we’re elated to have objectively received half a dozen Lions, I guess the bigger story is that the campaigns that won were as effective as they were … [Read more...] about India bags four bronze Cannes Lions

BHOPAL: Chief minister Kamal Nath on Saturday called on Congress workers to alert the nation against BJP’s “politics of diversion” in the garb of nationalism. Nath is in Delhi for Congress’s Bharat Bachao rally to build momentum against the policies of Narendra Modi government. Led by AICC president Sonia Gandhi, Congress workers from across the country on Saturday protested against the BJP-led Union government's economic and administrative policies, including the recently passed Citizenship Amendment Act (CAA). Addressing a massive rally at Ramlila Maidan in New Delhi on Saturday, CM Nath said, “In recent years, more industries have shut down than new ventures started. This, you can see before your eyes. India’s youth are groping in the dark with no employment opportunities. The working class is distressed, and small traders are unhappy. Our youngsters do not want commission or contracts, they want work. They want to earn their livelihood which … [Read more...] about PM Modi doesn’t talk about real issues like joblessness, farm crisis: Kamal Nath