Big changes in Indian train ticket booking from today Explained
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Economic Times
an hour ago
- Economic Times
Suntech Infra Solutions shares to list today. GMP hints at strong listing pop
Delhi's Suntech Infra Solutions is set for a strong NSE SME debut on July 2, with a GMP of Rs 41 over its Rs 86 issue price, signaling a potential 48% listing gain. Suntech Infra Solutions, a Delhi-based construction and equipment rental company, is set to list on the NSE SME platform on July 2, with expectations of a strong listing gain. The IPO saw healthy demand, driven by its position in the B2B infrastructure construction segment and robust financials. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Delhi-based construction and equipment rental player Suntech Infra Solutions is set to list on the NSE SME platform on July 2 with a GMP of Rs 41 over the issue price of Rs 86. This suggests a strong potential listing gain of nearly 48% for investors who received allotments in the Rs 44.39 crore IPO, which closed on June 27, saw a healthy response from institutional and non-institutional investors, anchored by its position in the B2B infrastructure construction segment and solid financials. The public issue comprised a fresh issue of 39.74 lakh shares and an offer for sale of 11.87 lakh Infra operates across core infrastructure verticals — including power, oil and gas, steel, cement, and renewable energy — and has ongoing projects worth Rs 186 crore as of July also boasts an equipment rental order book worth nearly Rs 10.9 crore, highlighting its integrated civil construction FY24, the company clocked Rs 96.25 crore in revenue, with a net profit of Rs 9.25 crore, up 61% from the previous IPO proceeds will be used to fund working capital and purchase new construction equipment to support project a strong order book, proven project delivery record, and expanding demand from both government and private infra sectors, Suntech Infra's debut is expected to mirror the optimism in the SME IPO market, even amid broader market the pre-listing enthusiasm and reasonable valuation, the company may find strong support on the bourses, and investors are keenly watching for a premium listing and sustainable performance in the days ahead.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hans India
an hour ago
- Hans India
Union Cabinet okays Rs 1L-crore job-linked incentive scheme
New Delhi: The Union Cabinet on Tuesday approved an employment-linked incentive (ELI) scheme with an outlay of nearly ₹1 lakh crore to generate over 3.5 crore jobs in the next two years. "You saw in the last Budget that the Finance Minister announced a clear package for an employment-linked scheme. Since then, a lot of good work has been done, and we came up with a comprehensive plan. This is an Employment-Linked Incentive (ELI) scheme, with a focus on the manufacturing sector," Union Minister Ashwini Vaishnaw said at a Cabinet briefing. Under the scheme, first-time employees will get an incentive equivalent to one month's wage up to ₹15,000 in two instalments. The first instalment will be paid after six months of service, and the second after 12 months, along with completion of a financial literacy programme, the government said in a statement. 'To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date,' the statement said. The ELI scheme, announced in the Union Budget 2024-25 as part of a package for employment and skilling opportunities for 4.1 crore youth, has an outlay of Rs 99,446 crore. The benefits will apply to jobs created between August 1, 2025 and July 31, 2027. Two-part scheme Part A targets first-time employees registered with EPFO and is expected to benefit 1.92 crore workers entering the workforce, while Part B will incentivise employers for creating additional jobs, with benefits of up to Rs 3,000 per employee per month for two years. For the manufacturing sector, the incentives will be extended for another two years. Employers hiring additional workers with salaries up to Rs 1 lakh per month will be eligible. Those with less than 50 employees will have to hire at least two more workers, while establishments with 50 or more employees will need to hire at least five more to avail the benefit. The government said Part B is expected to incentivise the creation of nearly 2.6 crore additional jobs. Payments to the first-time employees will be made through DBT using Aadhaar-based systems, while employers will receive the incentive in their PAN-linked accounts.
Time of India
an hour ago
- Time of India
Biocon eyes Canadian bonanza from generics of weight-loss 'super-drugs' Ozempic and Wegovy
Biocon Ltd. plans to file for regulatory approvals of generic versions of Novo Nordisk A/S's Ozempic and Wegovy in key markets as it races to be among the first few to reap a windfall after patents on the blockbuster weight-loss drugs expire next year. The Bengaluru-based company is seeking approval of generic Ozempic by September from Canadian authorities, and also in some emerging markets, its managing director, Siddharth Mittal, told Bloomberg News. 'I would say that we have the best chance in Canada' to start launching off-patent semaglutide, he said. 'If everything goes seamlessly,' then Biocon can receive an approval to sell sometime in 2026, Mittal added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List The Kiran Mazumdar Shaw-led insulin maker is joining the leagues of the world's largest generic drugmakers, which includes Sandoz Group AG, in eyeing the weight-loss drug market in Canada, where Novo is set to lose patent protection on semaglutide early next year. The Danish drugmaker, which says it controls about 70% of the global market for these drugs, will forfeit exclusive rights in many other markets from 2026, with patents in India expiring around April of next year. That patent expiration does not include the US, Europe or Japan. Live Events Other firms, including sector giant Teva Pharmaceutical Industries Ltd. and China's Gan & Lee Pharmaceutical Ltd., are gearing up likewise for a slice of the fast-growing global market for generic obesity medicines. But the Indian firm aims to be the first to launch a semaglutide copycat drug in Canada. 'I don't expect many companies to have crossed the finish line by next year,' Mittal said. The drugmaker also is looking to sell GLP-1 therapies in Latin American countries such as Brazil and Mexico, along with Asia-Pacific markets like Malaysia, Hong Kong, Australia, New Zealand and in its home base of India. 'We definitely see emerging markets where there is still under-penetration,' Mittal said. 'There's a huge scope for market expansion.' Biocon was the first generic drugmaker to receive approval to sell the generic version of liraglutide — Novo's older weight loss and diabetes drug, sold as Victoza and Saxenda — in the UK last year. India Launch Novo launched Wegovy in India last month, following Eli Lilly & Co.'s Mounjaro entry, as those Western drugmakers seek to tap the country with the world's third-largest obese population. Eli Lilly's Mounjaro has a longer runway with patent protection, which doesn't expire until at least 2030 in most countries. Biocon will start phase-3 trials for semaglutide in India 'soon,' and plans to file for approval by the end of next year, Mittal said. Rivals such as Cipla Ltd. and Torrent Pharmaceuticals Ltd. also are in the race to develop and market off-patent versions of Novo's drug in India, which has at least 100 million obese people. 'Crowded Market' 'It will be a crowded market,' Mittal said, adding that Biocon is relying on its expertise in making insulin to retain an edge over local peers. The company doesn't expect significant price erosion for Wegovy copies in India since the price point at which Novo launched 'is quite reasonable,' he said. The average price may slip by about a fifth, Mittal estimated, compared with the roughly 90% price erosion typically seen for blockbuster drugs after generic firms rush in.
