 "Top headlines: Record dividend for Tata Sons, govt testing for cough syrup")
US seeks enterprise-based probe into errant firms under IPEF deal
The US has put forward a proposal under which member countries of the Indo-Pacific Economic Framework (IPEF) can seek enterprise-based investigation to address specific concerns in a company through a Tripartite Labour Committee comprising a representative each from the government, employer, and labour union. Read more...
Tata Sons set to earn record dividend worth nearly Rs 33,350 cr in FY23
Thanks to a big payout by the group’s cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group’s listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22.
Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24. Read more...
Under the lens: Regulator moots pre-export govt testing for cough syrup cos
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After reports of contamination in cough syrups sent from the country, India is considering a system to test them before exporting.
It is learnt that the Central Drugs Standard Control Organisation (CDSCO) has sent a proposal to the Union health ministry on this. The idea is to test the medicines at government labs before exporting. Read more...
US investor Baron Capital slashes Swiggy's valuation by 34% to $7.1 bn
Food delivery giant Swiggy is witnessing another markdown in its valuation by an investor. A fund managed by US-based asset management firm Baron Capital Group has slashed the valuation of Swiggy by 34 per cent to $7.1 billion as of December 2022, according to filings with USA's Securities and Exchange Commission (SEC). The filing for this period was submitted in March this year. Read more...
Natural disasters: 2.5 million displaced in India in 2022, shows data
A range of natural disasters displace millions of Indians each year. An analysis of data from the Geneva-based Internal Displacement Monitoring Centre (IDMC) shows that Internal displacement in India was 2.5 million in 2022. The average displacement in the country in the last seven years has been over 3 million annually. Read more...