India emerges as world's 5th largest economy, overtakes UK and France, says report
India emerged as the world's fifth largest economy by overtaking the UK and France in 2019, says a report. A US-based think tank World Population Review in its report said that India is developing into an open-market economy. The report further said that in purchasing power parity (PPP) terms, India's GDP (PPP) is USD 10.51 trillion, exceeding that of Japan and Germany.
Coronavirus: Paracetamol prices rise by 40% amid outbreak of deadly virusPrices of paracetamol that is commonly used as an analgesic have gone up by 40 per cent due to the coronavirus outbreak in China. The cost of an antibiotic used to treat several bacterial infections, azithromycin, has also risen by approximately 70 per cent, as mentioned by Pankaj R Patel, chairman of Zydus Cadila, as mentioned in a report in Bloomberg.
Slowdown Blues: Revenue growth in personal care segment hits 10-quarter low
The personal care industry recorded a revenue growth of 2.1 per cent in the December quarter of 2019-20, registering the slowest growth in the past ten quarters. This was a sharp drop from the revenue growth of 10.9 per cent in the year-ago quarter. The second quarter of the current fiscal had recorded an increase of 5.5 per cent.
Coronavirus impact: Hero MotoCorp says production to suffer by 10% in February
India's largest two wheeler maker Hero MotoCorp on Friday said the Coronavirus outbreak in China is likely to impact its planned production for the month of February by 10 percent since supplies of some components to its manufacturing facilities in India have taken a hit.
Reliance Industries consolidates media, distribution businesses into Network18
Reliance Industries has announced consolidation of its media and distribution businesses into a single entity, Network18. Under the Scheme of Arrangement, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will be merged into Network18 Media & Investments. The restructuring will create value-chain integration and render substantial economies of scale. It will also simplify the corporate structure of the group by reducing the number of listed entities.
Govt estimates LIC's market valuation at Rs 13-15 lakh crore
The government seems to have estimated the valuation of Life Insurance Corporation (LIC) at around Rs 13-15 lakh crore.Chief Economic Adviser KV Subramanian, in a media interaction, indicated that the government may easily mobilise Rs 90,000 crore by divesting 6-7 per cent stake in the state-owned insurance giant. This is the first ever statement by any government functionary after the finance minister Nirmala Sitharaman announced about LIC IPO in her budget speech earlier this month.