The biggest drug name in India, Sun Pharmaceutical has lost around 430 crore in the Second Quarter of the 2017 by end of june 30 which could be biggest loss to company till now.
On the filling to the BSE Sun Pharmaceutical said that the company has posted its total profit of 2,033.71 crore after taxes, share of profit-loss with associate and joint venture for same period exact year ago.
Company also released the statement saying that it’s profit was hugely impacted due to settlement amount of 950 crores was given in Modafinil antitrust litigation which is currently running in the US.If company exclude this amount, it adjusted net profit of 526 in quarter first of Financial Year 2017-18.
Sun pharma also added that all the current events are occurred due to present existing conditions and also the liability of Indian National Rupees at 950.50 crore
Total consolidated revenue of company stand around 6,208 crore against last fiscal year’s company revenue of 8,256 crores which shows variation of 2000 crores in total revenue.
Sun Pharma MD and Business Tycoon Dilip Shanghvi Said about company’s poor performance in Quarter 1 compared to past quarter’s performance, he also stated that new tax reform (GST: Goods and Services Tax) implementation also impacted the company business, he also mentioned Modafinil Settlement in his statements.
He also said that companies expectations are much higher for upcoming Quarter to perform better in second half of current year, it is noted that company has done sales of 1761 crores in india by Q1 in current fiscal year which is 5% less by last fiscal year’s Q1.
R&D cost of company was 522 crore for first quarter of current fiscal year which is 8.5% of current sales compared to 531 crores and 6.6% of sales by last fiscal year’s Q1.
Company MD and founder Dilip Shanghvi still has faith that company will again acquire its momentum by the end of this year.
Also the shares of Sun Pharmaceutical Industry closed at 451.30 rs per scrip on Bombay stock exchange which faced downfall compared to last close which is 1.92%.
It has been found in a New study that all among the workforce, the ambition of entrepreneurship is the highest in india. The number is 56% after the answer of respondents who are willing to leave their current job and want to work on their own startup ideas or business.
Surveyor firm Randstad workmonitor has conducted this survey in many states including many job workers and result was very impressive. 83% of indian workforce would leave their job to join their startup if they get a chance which is the highest among all other countries and higher than global average of 53 per cent.
After the survey result Randstad India MD & CEO Paul Dupuis said that india is now leading to a stable business environment and market oriented reforms which includes FDI caps, Implementation of new tax system like GST(Goods and Services Tax) and other programmes by Indian government such as Make in India, Digital India and Skill India which is now seems to inspiring the youth of India to do something in Enterprise world.
He also added that SME ecosystem has historically went through growth which is driven by young and aspiring entrepreneurs. Which is a good news for business ecosystem.
Some notable key points which showed age group of working class who are willing to join entrepreneur world are as 45-54 years(37 per cent), 25-34 years (72 per cent) and 35-44(61 per cent). All datas are based in survey conducted by Randstad India.
Apart from other datas,86% of people who took part in this survey indicated that current indian business ecosystem is very favourable for new entrepreneurs while 84% of workforce has agreed on that current Modi government is working in the various sectors which supports the new startups and framing new Startups climate for younger generation.
This survey also asked people to their preferable job place and 84% has stated that they would like to do work in a MNC(Multinational companies) rather than any local company which shows that there are still many standards which Indian companies are yet to acquire to sustain in MNC level competition
NEW DELHI: BJP’s Amit Shah finally completes his three year as a BJP president. Three years is good time to do something extraordinary so does Shah did during this time by expanding his party into major states, Also BJP has formed the government with alliance in states like Goa, Manipur, Arunachal Pradesh where party did have enough votes.
Known as a Master Strategist and most importantly ” Chanakya” of the BJP Amit Shah has changed BJP’s fortune with PM Narendra Modi after wining loksabha election in 2014.
This is Modi and Shah’s strategically taken decision which led BJP to form government jn to 13 states and government with alliance in 5 states
Everyone saw magic of Shah when BJP won 73 out of 80 lok sabha seats in Uttar pradesh, apart from his origin from gujarat he made Uttar pradesh to convert into saffron under his watch
Shah was appointed as the party chief in month of july of 2014 since then he has never seen back and leading BJP to more wins. He succeeded Rajnath Singh who is Home Minister of India in current government.
Under his leadership BJP has won the most number of election in a row also vote share of BJP has increased so much during this span of 3 years which was never seen in any leadership before as a BJP president.
Under the leadership of Amit shah,BJP has also formed the government in Maharashtra with the most popular party in the region, Shiv Sena! Though news of clash between these two parties cones on Daily basis but they are running government smoothly.
BJP became the largest Political party in The world under shah rule.Under his leadership BJP has achieved which was probably the dream for this party, winning Vidhansabha election in Uttar pradesh which actually can be say true win of any party.
Shah always stays in a front row to answer all the questions which shows his leadership skills and maturity as BJP president. After getting selected as 5 time MLA in gujarat assembly, shah has faced many criminal charges too in which he got clean chit later on.
NEW DELHI: After getting many pressures from states, GST council will now start publishing rates of different different products for production companies to get over gains also those from input tax credit under the new system.
One Anonymous source has released this news that in earlier stages rates of 150 various items will be taken which will have explanation of past taxes and values with new Value/Price after new system of GST. People will also get to know the difference between two prices with this rule.
This anonymous source also said that once it is okay with 150 products other products will be added in this news rule too.
One GST officer has said that this new system will be only illustrative
On the other hand government also had a plan to publish price of various products on various Internet platforms like mobile app, website etc under this GST system to aware people about price different after this new implementation.
States like kerala,Bihar and WB had came up With conclusion after Saturday meeting to lay down pressure on those companies whose products price are not as per the new GST system. Which must be lower than pre-GST price.
Earlier one GST officer also stated that people are need to be aware about this new system to raise acceptance of GST(Goods and Services Tax) within consumer to make this new step successful.
It is government’s responsibility to publish rate of every product after GST(Goods and Services Tax) implementation to make awareness about price difference also to stop those who are selling products on high rates against the system.
Some ministers wanted to let all companies to list their own price on companies but later on it was found to be a source of inspector raj.
Also some big states like Maharashtra, TN was in front line to put pressure on GST council and Government to publish price change details.
It is noted that currently is now come under new system of tax, Goods and Services Tax (GST) in which each product and services will have Same tax pocket in throughout the country.
Just in: High profile Congress leaders Randeep surjewala, Anand sharma has reached Election Commission to revoke votes of two Congressmen who casted votes against congress.
BJP’s Ravi shankar Prasad has said that it is political stunt of Congress who knows already that he has lost this election but now they are yelling just to hide their lose.
He also added that If they knew that two congressman has casted vote against them then why they did not raise objections and why they are objecting it right now? Just because they know they are losing?
Sharma further added that how congress can now go against votes which are now locked under Ballot box? If organizer did not have any objection then why they have? If they have any problem then they should go to EC and submit a plea.
All though congress has its own story on this matter, Congress leader and Congress Candidate for this election Ahmed Patel has said to reporters that congress raised objection when they found two voters are going against us also we have objected this matter to Organizers but our complaint did not get any attention.
The most awaited Rajyasabha election for Gujarat seat has been completed today, still result is awaited that who is going to win this battle between Congress and BJP.But as we all know nothing can be done easily without big political drama between BJP and Congress, So did happen today when 2 congress MLAs casted their ballots votes against congress which can be a major reason of lose of Congress.
In Rajya Sabha election BJP has bidded on Amit Shah and Smriti Irani while Congress is hoping that Ahmed Patel will led Congress to win this Rajyasabha seat.
Now election Commission has called both the parties to discuss on this matter. Election commision is also not able to declare the result the name of winning party even after 3 hours of result declaration deadline which seems that this issue will not going to end easily.
Congress has cleared that they had raised objection at 9:30 AM while election started at 9:20 AM.
With a view to reduce burden on Delhi airport, the Haryana government is considering to establish airports within 250 km radius of Delhi. Besides, 24-hour power supply would be made available to 1,000 villages of the state from August 15onwards. This was disclosed by Chief Minister Manohar Lal, who was addressing a press conference in Hisar today.
The Chief Minister said that efforts were being made to further develop the airport at Hisar, following which certain facilities would be started at the airport. A meeting in this regard would be held with the officers of the Civil Aviation Department tomorrow.
He said that as a result of the initiatives being taken by the Haryana Government under the Mhara Gaon Jagmag Gaon scheme to make the power discoms in the state profitable and to provide adequate electricity to the people and line losses in the state had reduced from 30 to 25 per cent.
The line losses are expected to further drop to 20 per cent in the next two years. This would make possible 24-hour power supply in the entire state.
While more than 500 villages are presently being provided with 24- hour power supply, 1,000 villages, along with districts Ambala and Gurugram would be able to avail this facility from August 15 onwards.
He said that the BJP had come into power in Haryana for the first time, and it would take some time to fix the problems and mismanaged systems that are the legacy of the previous governments. However, the system is transforming due to the efforts of the present State Government. Replying to a question regarding enhancement in residential areas under Haryana Urban Development Authority (HUDA), he said that as the consumers had to bear the burden of enhancement, the government was considering the matter and solution would be sought.
He said that he would visit every district in the state for two days each during which he would review development works with officers of the district concerned, hear the grievances of the people during janta darbars and seek feedback regarding reach of development works to the people from public representatives.
The chief minister said that the people had expressed satisfaction and lauded the work undertaken.
Gujarat: congress Vice-President and President upcoming Rahul Gandhi faced strong opposes in Gujarat as stone pelted on his car when he was on visit on flood affected region in Gujarat.
Pelted stones directly hit car windshield which broken into pieces,all this happened when he was on his way to his helipad in Dhanera (Banaskantha) from lal chowk within Gujarat
Police came in action just after this incident and started investigation, soon guy from one of the protesters was caught who is now accused for throwing stone on Vehicle of rahul gandhi. Banaskantha Superintendent of Police neeraj Badgujar did a press conference in which he said that accused has been caught and needful action will be taken against him.
Before leaving lal chowk,Rahul Gandhi addressed people there at Uni Village in which some protesters came in group and started showing black flags and chanted anti congress slogans,protesters also chanted slogans to hail PM Modi.
In reaction Rahul Gandhi told that he is not gonna afraid of these people who pelt stones. Farmers are still dying and youth wants employment
Though Rahul Gandhi came out safe but one of his man got injuries due to broken glass of Window. It is noted that rahul gandhi changed his decision to travel in his car to travel in fortuner on which stones were pelted.
In conversation with media Rahul said that the issue of farmers and youth unemployment are still as it is which is a big failure of current government. But they are sending their people to do such activity to divert country from these issues.
After all these, Congress is now Condemning this incident and blaming BJP for this act while tweets of Gujarat CM Vijay Rupani came stating that Pelting stone on Rahul Gandhi is such a shameful act and officers will take care of this matter Until justice will be done.
CM Rupani also said that it would be better if congress had done actually some good relief work in Gujarat rather than raising such issues.
Meanwhile Gujarat has gone through heavy rainfall in past days which led heavy flood in saurashtra and palanpur region, however relief work is going on.