Snehal khanna Blog

Mukesh Ambani remains India's wealthiest with a net worth of $38 bn, Azim Premji distant second Even as the country is facing economic hiccups and the government facing criticisms from various quarters over its handling of the economy, the wealthiest people in India do not seem to be affected. In spite of businesses facing difficulties in the aftermath of the government’s demonetisation of high-value currency last November and its rollout of the goods and services tax (GST) regime in July this year, India’s 100 wealthiest tycoons have seen their combined net worth zooming to a whopping $479 billion, up 26 per cent from $374 billion in 2016. According to the Forbes’ annual list of India’s 100 richest tycoons, Reliance Industries Chairman Mukesh Ambani remains the country’s richest, with a net worth of $38 billion, Wipro Chairman Azim Premji is a distant second on the list with exactly half the wealth. His net worth stands at $19 billion. (read more) Also read this :  ...

US sales drop 42%; Rs 950-cr charge related to settlement of antitrust case in US LATEST NEWS    :    Drug major Sun Pharmaceutical on Friday reported a consolidated net loss of Rs 425 crore for the quarter ended June 30, mainly due to one-time exceptional item. The company had posted a net profit after taxes, share of profit/loss of associates, joint ventures and non-controlling interests of Rs 2,033.71 crore for the same period a year ago, Sun Pharmaceutical Industries said in a filing to the BSE. Consolidated total revenue from operations of the company stood at Rs 6,208.79 crore for the quarter under consideration as against Rs 8,256.26 crore for the corresponding period of the previous fiscal, it added. The company and one of its wholly owned subsidiaries entered into settlements with certain plaintiffs in respect of an antitrust litigation relating to Modafinil in the month of July 2017, whereby the company agreed to pay an aggregat...

Pharma stocks were the biggest losers with Nifty Pharma posting sixth consecutive session of loss Benchmark indices settled lower with Sensex shedding 200 points and Nifty ending below 9,400-level as investors booked profit in recent outperformers. The sentiment was also dragged by geopolitical tensions as Indian army strikes Pakistan military posts. The street also took cues from the global markets which were mostly trading lower post the explosion, at a concert by US singer Ariana Grande shook Manchester. The S&P BSE Sensex ended at 30,365, down 205 points, while the broader Nifty50 settled at 9,386, down 52 points. Read this: How taxmen nabbed black money hoarders who tried to beat the note ban The broader market underperformed the benchmark indices with S&P BSE Midcap and the S&P BSE Smallcap indices dipped over 1% each. "Investors became cautious after sudden hike in Indo-Pak tension. Additionally, higher than expected GST rate especiall...