Delhi's Cabinet has greenlit an electric vehicle policy, set to launch by July 1, with a substantial Rs 15,000 crore investment planned over four years. The policy may offer a 50% road tax waiver on hybrid vehicles up to Rs 30 lakh, aiming to accelerate electric mobility adoption despite some internal debate. This move signals a significant push towards greener transportation in the capital.
Alembic Pharmaceuticals has secured final USFDA approval for its generic Dapsone gel, a topical treatment for acne vulgaris. This approval, for the 5% strength, means the company can now market its version, which is therapeutically equivalent to Almirall's Aczone Gel. This development marks a significant step for Alembic in the US market, offering a new option for acne sufferers.
India is planning a high-frequency index to track its vast informal economy, covering millions of unincorporated enterprises. The proposed MoSPI index could improve GDP estimates, guide RBI interest-rate decisions, strengthen inflation management, sharpen government policymaking and offer investors, businesses and economists an unprecedented real-time view of the country's largest employment engine.
Indian banks are poised for improved interest margins this quarter, thanks to the Reserve Bank of India's liquidity-boosting measures. These initiatives are driving down the cost of short-term funding, with certificate of deposit rates already seeing significant drops. Experts anticipate further easing, suggesting banks can now secure funds more affordably, directly benefiting their profitability and allowing for cheaper refinancing of existing debts.
India's organized dairy sector is poised for accelerated revenue growth of 200-400 basis points this fiscal, driven by consistent volume increases and strategic price adjustments. Despite challenges like El Niño impacting milk supply and raising costs, companies are expected to pass these on, particularly for value-added products. This growth, coupled with healthy cash flows, will support continued investment and stable credit profiles for dairy players.
Randstad India has appointed Narayan Iyer as its new managing director and chair of the management council. With over three decades of experience in IT services and consulting, Iyer will spearhead the company's four specialisations and shared service centres in India. His leadership aims to drive growth, enhance digital capabilities, and solidify Randstad's role as a key talent partner in the rapidly evolving Indian market.
Mumbai's Oberoi Realty has officially entered the Delhi-NCR market, launching its maiden luxury housing project, 'Three Sixty North,' in Gurugram. This ambitious venture, with a total investment of Rs 6,000 crore, aims to replicate the company's success in Mumbai. The first phase, featuring 832 units, has commenced with prices starting at Rs 19 crore.