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Indian Express
9 minutes ago
- Indian Express
Rs 90,000/sq yard — Gurgaon's most expensive locality unveiled
Gurgaon's South City 1 is now the most expensive locality in Haryana with the introduction of revised collector rates in the state beginning Friday. For a square yard in the locality, residents will now have to shell out Rs 90,000 (Rs 1.07 lakh per square metre), up from the earlier Rs 82,000. This is the second hike in collector rates in the state in eight months. The rates were last revised with effect from December 1, 2024. The hike in collector rates ranges from 10% to 50% in both urban and rural areas. While dealers claim that the increase in circle rates may stall the real estate market in the state, a revenue official said that the new collector rates are the result of a well-thought-out process, leaving little room for changes. Apart from South City 1 in Gurgaon, Nirvana Country has also seen a substantial increase. From the earlier Rs 70,000 per square yard, collector rates have now gone up by Rs 10,000 per square yard. The Millennium City's Sector 42, which includes luxury developments such as DLF Camellias and properties along Golf Course Road, now has a collector rate of Rs 79,970 per square yard, up from Rs 72,700 per square yard. In DLF Phase II, the circle rate is now Rs 72,000 per square yard, and in DLF Phase III, one has to pay Rs 66,000 per square yard. Developments near the Southern Peripheral Road and Dwarka Expressway, which continue to see expanding infrastructure, seem to still be in an affordable ambit. With a per square yard collector rate of Rs 2,830, Sector 95A remains the least expensive in Gurgaon. Licensed colonies in Sectors 68 to 71 are close behind, with an increased circle rate of Rs 4,800 per square yard. For Sectors 76 to 80, the rate has been set at Rs 5,000 per square yard. It is followed closely by licensed plots in Sectors 91 and 92, where the rate has been marked at Rs 5,600 per square yard. Sectors 81 to 84 now have a circle rate of Rs 6,000 per square yard. In Panchkula, Mansa Devi Complex's Sectors 4, 5, and 6 are the most expensive residential areas, with circle rates now touching Rs 99,000 per square metre, up from the earlier Rs 66,000.
Time of India
9 minutes ago
- Time of India
Trump calls India's economy 'dead' – but that makes no sense
Recently, Donald Trump, the former U.S. President, made fun of India's economy by calling it 'dead.' But that's a strange and silly thing to say. Think about it: An economy is alive as long as people are buying, selling, and trading things — even if it's just one person giving a teabag to a friend in exchange for some biscuits. That's still trade! India has over 1.4 billion people, which means there are tons of trades and businesses happening every second. So how can it be 'dead'? Also, if India's economy was really dead, why is Trump so eager to sell things like soybeans, corn, and butter to India? You don't trade with something that isn't working. He even spent four months trying to make a trade deal — and only gave up when he got frustrated and added extra taxes (called tariffs) on Indian goods. India's economy is actually growing faster than any other big country's right now. That's not what a dead economy looks like. Even countries that aren't growing fast — like Japan — are still very much alive and running. Trump has said strange things before. Once, he told a man his father would be proud 'looking down on him,' thinking the father had passed away. But the man said his dad was still alive. Trump just replied, 'Then he's even more proud!' So when Trump says 'dead,' it might not mean what you think — or it might not mean anything at all. Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.
Mint
9 minutes ago
- Mint
India unveils first formal rules for drug approval panels in regulatory overhaul
New Delhi: India has issued its first formal playbook for how expert panels should vet new drugs, biologics and medical devices—a move aimed at fixing long-standing concerns about inconsistent and opaque approvals that have delayed critical drug launches and eroded industry trust in the regulatory system. The guidelines, issued by the Central Drugs Standard Control Organization (CDSCO), represent a major overhaul of India's drug approval process and aim to make regulatory decisions faster, more predictable and transparent, according to two government officials and documents reviewed by Mint. The guidelines standardize how Subject Expert Committees (SECs) are formed, how members are selected, and how they must evaluate applications, including the scientific benchmarks and disclosure norms they must follow. The SECs advise the Drugs Controller General of India (DCGI) on whether to clear new drugs, and their decisions have long shaped the trajectory of India's pharmaceutical industry. The CDSCO finalized the guidelines about two weeks ago and circulated them to SEC members for immediate implementation, the officials said. The overhaul follows recommendations from the World Health Organization (WHO), which last year conducted a regulatory review of CDSCO and the office of the DCGI, who heads the organization. The WHO called for stronger transparency and data integrity to align India's system with global standards. India's pharmaceutical industry ranks third globally by volume and 14th by value. It accounts for roughly 20% of the world's generic drug supply and manufactures more than 60,000 products across 60 therapeutic areas. The sector also includes over-the-counter drugs, vaccines, contract manufacturing, biologics and biosimilars. As part of its findings, the WHO urged Indian authorities to implement stronger controls to prevent, detect, and respond to substandard and falsified medical products; to launch a market surveillance program for drug quality monitoring; and to ensure that promotional and advertising claims for medicines are not misleading. These steps are now being implemented by the DCGI and other stakeholders involved in the SEC meetings, according to the officials cited earlier. The SECs play a central role in India's drug approval process, advising the DCGI on whether to approve new drugs, biologics, and medical devices. Each committee includes eight experts—one pharmacologist and seven specialists from research, medical, or regulatory institutions—and requires a four-member quorum to issue recommendations. In the absence of formal guidelines, though, these decisions were often viewed as inconsistent or opaque, delaying product approvals. 'SECs are subject expert committees involved in evaluating approvals of new drugs. Simplification and streamlining the process will help industry in getting drugs approved with predictable speed and more transparency. We appreciate the step taken by DCGI," said Dr. Viranchi Shah, national spokesperson of the Indian Drugs Manufacturers Association (IDMA). Emailed queries to the spokesperson for the health ministry went unanswered at the time of publishing. Clearer mandate, tougher benchmarks According to the guidance document, SEC members must meet strict selection criteria, including a publication record of at least 10 peer-reviewed papers and a citation ratio of 2:1. Experts are appointed for a three-year term and are expected to maintain confidentiality, impartiality, and active participation. Those who fail to attend meetings regularly may be removed. The document specifies that SECs must offer rigorous, science-based evaluations on safety, efficacy, and risk-benefit balance. It outlines the dos and don'ts of deliberations: clinical trial waiver decisions must include clear yes/no recommendations with detailed justifications, and all discussions must remain focused on scientific and regulatory issues, excluding matters such as pricing. 'For new drug and clinical trial applications, the DCGI refers them to the SEC, an expert body that discusses proposals and offers recommendations for approval or rejection. These experts, being external to CDSCO, are not always fully aware of regulatory requirements. This often led to differing, sometimes subjective opinions, a lack of uniformity in decisions, and delays on straightforward matters. Therefore, it's important for the committee to provide uniform decisions, maintain transparency, and offer proper reasoning for approvals and rejections," said one of the two government officials cited earlier, who asked not to be named. The second official added, 'There were persistent discussions during SEC meetings about the absence of a guiding document to regulate or suggest proper functioning. This new guidance note outlines the 'do's and don'ts' for experts. Previously, some companies had even alleged that SEC meetings were not being conducted properly." While officials declined to cite specific past incidents, people familiar with the matter said the lack of consistency and alignment among SEC experts, who advise on key regulatory decisions, had severely affected the functioning of the DCGI in recent years. Industry seeks consistency For years, pharmaceutical companies have raised concerns over the unpredictability of SEC verdicts, especially around clinical trial waivers, which are critical for expediting the launch of generics and biosimilars. The new rules aim to reduce such uncertainty by standardizing decision-making across similar products, unless clear scientific reasons justify a deviation. The document states: 'The SECs are indispensable in the CDSCO's evaluation process due to their specialized expertise, independent perspective and commitment to quality assurance. These committees address complex scientific and regulatory challenges, fostering informed decision-making. By operating transparently and consistently across applications, SECs bolster public trust while safeguarding public health and promoting innovation in the healthcare sector." Public health experts have welcomed the reform. 'Any committee should operate under certain guidance, and it is always beneficial for all members of such a committee to have clarity and a common vision. It's akin to laying down the rules of the game," said Dr. Chandrakant Lahariya, a physician and public health expert. He added: 'The Subject Expert Committee (SEC) is an essential requirement for guiding the drug approvals and other processes in all regulatory bodies. When a new drug is needed, the SEC provides its recommendations to the apex drug regulator. CDSCO is a regulatory organization, and they need guidance from a technical expert committee to make decisions. A regulatory body needs guidance from those who deeply understand the subject."
