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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A company associated with the management is said to have divested a 4% stake when it likely had access to unpublished price-sensitive information.
Editor's note: A little over a year ago, Gland Pharma was a star stock to own. Shares of the Hyderabad-based injectables maker, owned by Chinese conglomerate Fosun, hit a high of Rs 4,287 in August last year—up from Rs 1,500 in its November 2020 IPO—giving it a valuation of around Rs 70,000 crore. That put it on a par with Dr Reddy’s Laboratories, which had five times the revenue of Gland. The story stands in sharp contrast today. The stock has fallen 54% since January and its valuation is around Rs 31,000 crore. Foreign institutional investors have reduced their stake by half, a bunch of promoter entities have sold out, even as some domestic institutions have increased their holdings. While the company posted increased revenue and profits in the two latest fiscal years (2020-21 and 2021-22), a lot has soured in the last two quarters. When the company declared its earnings for the second quarter of the current fiscal year last week, the stock dropped 15% in a trading session. It was the biggest drop in a day since its listing. For …
A company associated with the management is said to have divested a 4% stake when it likely had access to unpublished price-sensitive information.
Editor's note: A little over a year ago, Gland Pharma was a star stock to own. Shares of the Hyderabad-based injectables maker, owned by Chinese conglomerate Fosun, hit a high of Rs 4,287 in August last year—up from Rs 1,500 in its November 2020 IPO—giving it a valuation of around Rs 70,000 crore. That put it on a par with Dr Reddy’s Laboratories, which had five times the revenue of Gland. The story stands in sharp contrast today. The stock has fallen 54% since January and its valuation is around Rs 31,000 crore. Foreign institutional investors have reduced their stake by half, a bunch of promoter entities have sold out, even as some domestic institutions have increased their holdings. While the company posted increased revenue and profits in the two latest fiscal years (2020-21 and 2021-22), a lot has soured in the last two quarters. When the company declared its earnings for the second quarter of the current fiscal year last week, the stock dropped 15% in a trading session. It was the biggest drop in a day since its listing. For …
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
