Karnataka Chief Minister Siddaramaiah met Prime Minister Narendra Modi, urging for urgent clearances for the Mekedatu Balancing Reservoir and Kalasa Bandhuri projects, along with a request for Rs 10,000 crore in financial support. He highlighted a significant reduction in short-term farm loan limits by NABARD, which could adversely affect farmers, and sought Rs 5,300 crore for the Upper Bhadra Project to aid drought-prone areas.
SEBI is set to review the Key Performance Indicators (KPI) disclosure framework introduced in 2022, which mandates IPO-bound companies to disclose past transactions and fundraising details. The move aims to enhance transparency for investors, especially as many digital companies prepare to list amid concerns over profitability and valuation drops. Feedback from industry bodies is being sought to strengthen the existing rules, reflecting SEBI's dissatisfaction with current disclosure levels.
UBS has maintained a Buy recommendation for Gerresheimer, setting a price target of 132 euros. Analyst Olivier Calvet notes that data from the study on Novo Nordisk's weight-lowering drug CagriSema could significantly impact the company's stock, as Gerresheimer is a key supplier.
09:48 29.11.2024
Dr Reddy's Laboratories has launched Toripalimab, the first immunooncology drug approved for nasopharyngeal carcinoma, in India. This follows a licensing agreement with Shanghai Junshi Biosciences, granting exclusive rights to market the drug in 21 countries, including India. With this launch, India becomes the third country to access Toripalimab, marketed as Zytorvi, addressing a significant need for advanced NPC treatment.
North Korean leader Kim Jong Un's reliance on Russia for economic support may backfire if Donald Trump successfully ends Vladimir Putin's war in Ukraine, a study from a South Korean think tank suggests. As Moscow strengthens ties with Pyongyang through military and economic exchanges, North Korea has provided troops and ammunition to support Russia, while receiving financial aid and military enhancements in return.
Lombard Odier and a former employee have been charged with serious money laundering by the Swiss Attorney General's Office. They are accused of concealing profits linked to Gulnara Karimova, the daughter of Uzbekistan's former president, and her criminal organization between 2005 and 2012. The investigation revealed that laundered funds were transferred through the bank in Geneva, with the presumption of innocence upheld until a verdict is reached.
The Enforcement Directorate (ED) has seized Rs 1.3 crore in cash and luxury cars valued at Rs 6.5 crore from former promoters of Kwality Ltd. in connection with a Rs 1,400 crore bank fraud case. The investigation revealed manipulation of financial records to inflate sales and misrepresent debts, leading to significant losses for a consortium of banks. Raids were conducted at 15 locations in Delhi-NCR, targeting key figures associated with the now-liquidated dairy company.
Indian IT stocks are experiencing a resurgence, with domestic fund managers increasing their investments and reducing underweight positions despite ongoing concerns about AI disruption and slower order wins. The Nifty IT index has been a top performer over various time frames, yet IT remains the second most underweight sector among domestic mutual funds, indicating potential for further buying. Currently, only 30% of leading Asset Management Companies are overweight on IT, suggesting significant room for growth.
BMW Switzerland thrives on a strong partnership with local retail and financial sectors, with over 70% of vehicles sold alongside financial products. Popular models include the X1, X3, and the electric i7, while the company transitions to an agency sales model, enhancing customer experience and transparency. With a focus on B2B sales, BMW offers flexible solutions for corporate clients, emphasizing quality and innovation in its offerings.
India's central bank has intensified discussions with treasury traders regarding the banking system's liquidity, raising speculation about potential measures to enhance liquidity during the policy review on December 6. The focus of these talks has been on the impact of significant foreign outflows from stocks and bonds.

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