Latest news with #KirtiGanorkar
Time of India
26-06-2025
- Business
- Time of India
LITU alumnus Kirti Ganorkar is Sun Pharma's MD
1 2 3 Nagpur: Kirti Ganorkar, an alumnus of LIT University's batch of 1988, has been appointed as the managing director of Sun Pharmaceutical Industries Ltd. Ganorkar joined Sun Pharma in 1996 and has held various leadership roles across business development, marketing, M&A, new product introduction, project management, IP and litigation. He has played a pivotal role in driving Sun Pharma's foray into specialty by securing rights for key products such as Ilumya. Ganorkar led Sun Pharma's entry into Japan and laid initial groundwork for the company's Europe entry. He has impactfully led Sun Pharmaceutical's US business with stewardship of several notable generic programmes from concept to commercialisation. He has been heading the India Business at Sun Pharmaceuticals since June 2019. Under his leadership, Sun Pharma's India Business has grown consistently, further increasing its market share. Laxminarayan Innovation Technological University, since its inception as LIT in 1942, has given the global industry several towering stalwarts. The year 2025 has been a momentous one for LIT University alumni. Earlier this year, Subramanian Sarma, an LIT University alumnus of 1979 batch of chemical engineering was appointed as the deputy managing director of Larsen & Toubro (L&T). Each year, LIT University reinforces its position as one of the most premier institutes in chemical engineering and technology by producing such stalwarts.
Business Standard
16-06-2025
- Business
- Business Standard
Nifty trades above 24,900 level;Sensex jumps 691 pts; European mrkt opens higher
The domestic equity benchmarks traded with substantial gains in afternoon trade, rebounding after two consecutive sessions of losses. This recovery came despite persistent concerns over escalating geopolitical tensions between Israel and Iran, which continued to weigh on global market sentiment. The Nifty traded above the 24,900 level. All the sectorial indices on NSE were in the green with IT , Metal and private bank shares gaining the most At 12:30 IST, the barometer index, the S&P BSE Sensex gained 690.89 points or 0.85% to 81,809.49. The Nifty 50 index jumped 221.20 points or 0.91% to 24,945.20. In the broader market, the S&P BSE Mid-Cap index rose 0.54% and the S&P BSE Small-Cap index dropped 0.18%. The market breadth was negative. On the BSE, 1,639 shares rose and 2,321 shares fell. A total of 192 shares were unchanged. Gainers & Losers: Tech Mahindra (up 2.60%), SBI Life Insurance Company (up 2.41%), HDFC Life Insurance Company (up 2.28%), UltraTech Cement (up 1.87%) and Bharat Electronics (up 1.86%) were the major Nifty50 gainers. Tata Motors (down 3.76%), Dr Reddy's Laboratories (down 0.98%), Sun Pharmaceutical Industries (down 0.47%), Adani Ports and Special Economic Zone (down 0.44%) and Jio Financial Services (down 0.26%) were the major Nifty50 Losers. Sun Pharmaceutical Industries shed 0.47%. The pharma major announced the appointment of Kirti Ganorkar as the managing director (MD) of the company, effective 1 September 2025, for a term of five years. Meanwhile, the company confirmed that the USFDA conducted a Good Manufacturing Practices (GMP) inspection of its Halol facility in Gujarat, India, from 2 June to 13 June 2025. Upon the conclusion of the inspection, the USFDA issued a Form-483 with 8 observations. Economy: Inflation measured by the Wholesale Price Index (WPI) fell to a 14-month low of 0.39% in May from 0.85% in April, data released by the government on Monday showed. This is the third consecutive month of decline in WPI inflation. Positive rate of inflation in May 2025 is primarily due to increase in prices of manufacture of food products, electricity, other manufacturing, chemicals and chemical products, manufacture of other transport equipment and non-food articles, etc. Stocks in Spotlight: Tata Consultancy Services (TCS) rose 1.54% after the company announced a long-term strategic partnership with Salling Group to drive sustainability, technological innovation, and improve organizational efficiency. Spicejet shed 0.09%. The companys standalone net profit surged 173% to Rs 324.87 crore in Q4 FY25 as against Rs 119 crore posted in Q4 FY24. However, revenue from operations fell 13.4% year on year to Rs 1,360.87 crore in the fourth quarter of FY25. Lupin added 0.35%. The compnay announced that it has signed a license and supply agreement with Sino Universal Pharmaceuticals (SUP) for the commercialization of Tiotropium Dry Powder Inhaler (DPI) capsules in China for the treatment of chronic obstructive pulmonary disease. HBL Engineering gained 1.86% after the company announced that it had secured a contract worth Rs 132.95 crore from South Central Railway for the deployment of the indigenously developed Kavach safety system. United Drilling Tools (UDTL) advanced 1.86% after the company announced that it has secured a significant order from Oil and Natural Gas Corporation for the supply of large outer diameter (OD) casing pipes with connector totaling to Rs 107.55 crore. Global Markets: European markets advanced on Monday, reboundingat least initiallyfrom Fridays losses, which were triggered by escalating tensions as Israel and Iran launched airstrikes against each other, raising fears of a prolonged and deadly conflict. Most Asian markets also traded higher, as investors kept a cautious eye on the rising geopolitical tensions while also digesting a fresh batch of Chinese economic data. Oil prices surged after Israel and Iran exchanged strikes over the weekend, stoking fears of a broader conflict in the region. Gold followed suit, climbing higher as investors rushed to the comfort of safe-haven assets. Back in Asia, the spotlight was on China. The country released a mix of economic indicators that painted a somewhat uneven picture. Retail sales in May shot up 6.4% from a year earlier, signaling a boost in consumer spending. But industrial output slowed to 5.8% year-on-year, down from 6.1% in April. Meanwhile, fixed-asset investment rose 3.7% in the January-May period, slightly weaker than the 4% growth seen in the first four months. There was a silver lining, though: the urban unemployment rate dipped to 5.0% in May, the lowest since November 2023. Over on Wall Street, all three major US indexes sank on Friday, spooked by the Middle East flare-up and surging energy prices. The Dow tumbled 1.79%, the S&P 500 fell 1.13%, and the Nasdaq slid 1.30%. Focus was now squarely on a Federal Reserve meeting this week. The Fed is set to kick off a two-day meeting from Tuesday, and is widely expected to keep interest rates unchanged, around 4.5%, at the end of the meeting on Wednesday.
New Indian Express
16-06-2025
- Business
- New Indian Express
FDA observations, leadership change keep Sun Pharma stock in spotlight on Monday
CHENNAI: Shares of Sun Pharmaceutical Industries Ltd. are under investor scrutiny today following two significant developments announced over the weekend — the US drug regulator's audit findings at a key manufacturing facility and a major leadership transition. The US Food and Drug Administration (USFDA) issued a Form-483 with eight observations concerning manufacturing practices at Sun Pharma's Halol facility in Gujarat. While the observations do not constitute regulatory action, they point to areas requiring corrective measures to meet FDA compliance standards. Sun Pharma has acknowledged the observations and committed to addressing them promptly. The inspection, conducted between June 2 and June 13, 2025, is especially significant as the Halol plant has been under an import alert since December 2022 due to previous regulatory violations. In a parallel development, the company announced the elevation of Kirti Ganorkar to the role of Managing Director, effective September 1, 2025. Ganorkar, who has headed Sun Pharma's India business since 2019, will take over full operational responsibilities, with all functions reporting directly to him. Founder Dilip Shanghvi will continue as Executive Chairman of the Board, ensuring strategic continuity. In light of these developments, investors are expected to closely monitor the company's stock performance in the coming days. Market analysts say the resolution of USFDA concerns at Halol and the smooth execution of the leadership transition will be key to shaping investor sentiment and the company's near-term outlook.
Business Standard
16-06-2025
- Business
- Business Standard
Stock Alert: NTPC, Arkade Developers, ITC, Spicejet, Sun Pharma, Syngene Intl
Securities in F&O Ban: Aditya Birla Fashion & Retail (ABFRL), Birla Soft, Central Depository Services (CDSL), Chambal Fertilisers & Chemicals, HUDCO, Indian Energy Exchange (IEX), Indian Renewable Energy Development Agency (IREDA), Manapurram Finance, RBL Bank and Titagrah Rail Systems shares are banned from F&O trading on 16 June 2025. Stocks to Watch: NTPCs board has scheduled a meeting on 17 June 2025 to raise Rs 4,000 crore through debt securities on a private placement basis. The company plans to issue unsecured non-convertible debentures (NCDs) amounting to Rs 4,000 crore through private placement at a coupon of 6.89% p.a. Arkade Developers has acquired a 6.28 acre freehold land parcel for a total consideration of Rs 172.48 crore including stamp duty, marking its foray into the Thane real estate market. The projected gross development value (GDV) is Rs 2,000 crore having a RERA saleable area of 9.26 lakh sq. ft., the project launch is slated for early 2026. NATCO Pharma said that the U.S. Food and Drug Administration (FDA) had conducted an inspection at the API manufacturing plant located in Mekaguda, Hyderabad, India, which was conducted from 09 to 13 of June 2025. Syngene International said that the United States Food and Drug Administration (US FDA) conducted a good clinical practices (GCP) compliance inspection of the companys facility located at Semicon Park, Bengaluru, from 09 to 13 of June 2025. Adani Enterprises has announced that its wholly owned subsidiary, Agneya Systems (ANIL), has incorporated a new wholly owned subsidiary named Astraan Defence. The newly incorporated subsidiary operates in the defence sector and will be engaged in the manufacturing of primers, propellants, ignitors, explosives, and ammunition of various types and calibers. Lemon Tree Hotels has announced the signing of a new property in Itanagar, Arunachal Pradesh. The property will be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels. Sun Pharmaceutical Industries announced the appointment of Kirti Ganorkar as the managing director to succeed Dilip Sanghvi, with effect from 1 September 2025. Meanwhile, USFDA conducted a good manufacturing practices (GMP) inspection at companys Halol facility (Gujarat, India) from 02 June to 13 June 2025. At the conclusion of the inspection, the USFDA issued a Form-483, with 8 observations. ITC has acquired 100% stake in Sresta Natural Bioproducts (SNBPL) for total consideration of Rs 400 crore. In addition, consideration of up to Rs 72.50 crore is payable in the next 24 months. Spicejets consolidated net profit surged 168.92% to Rs 341.88 crore on 16.08% jump in revenue from operations to Rs 1,395.96 crore in Q4 FY25 over Q4 FY24
Reuters
13-06-2025
- Business
- Reuters
India's Sun Pharma names Kirti Ganorkar as managing director
June 13 (Reuters) - India's Sun Pharmaceutical ( opens new tab on Friday named Kirti Ganorkar as managing director, effective September 1, for a period of five years.
