Business News at 05:30 pm on 17th May, 2024

Lets begin – Over the past one and a half months, more than 13 lakh commuters have used QR-coded tickets on the Sector Five-Sealdah and Esplanade-Howrah Maidan stretches of the Kolkata Metro, as reported by Metro Railway spokesperson Kausik Mitra on Tuesday. From April 1 to May 13, a total of 13,19,173 paper-based QR tickets were sold at various ticket counters for Sector Five-Sealdah and Esplanade-Howrah Maidan (Green Line 2), according to an official statement. Additionally, commuters have increasingly adopted QR code-based tickets through the ‘Metro Ride Kolkata’ app, using their smartphones for added convenience. During this period, over 9,300 tickets were purchased via the app.

In another development – Global pharma major Lupin Limited on Thursday announced that it has received approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Midostaurin Capsules, 25 mg. According to the company’s statement, the approval has been granted to market a generic equivalent to the reference listed drug (RLD) Rydapt Capsules, 25 mg of Novartis Pharmaceuticals Corporation. Midostaurin Capsules, 25 mg, are indicated to treat aggressive systemic mastocytosis (ASM), systemic mastocytosis with associated hematological neoplasm (SM-AHN), or mast cell leukemia (MCL). Midostaurin Capsules, 25 mg, had estimated annual sales of USD 75 million in the U.S.

Now news related to Lok Sabha polls 2024 – A total of 141 out of the 866 candidates contesting in the sixth phase of the Lok Sabha elections have declared serious criminal cases against themselves, according to a report. The Association for Democratic Reforms (ADR) and National Election Watch have analysed the self-sworn affidavits of 866 out of 869 candidates, who are contesting in the sixth phase of the Lok Sabha polls. Of the 866 candidates, 180 have declared criminal cases against them, which accounts for 21 per cent, while 12 candidates have declared cases where they have been convicted. Six candidates contesting in the sixth phase have declared cases related to murder (IPC Section -302) against themselves, while 21 candidates have declared cases related to attempt to murder (IPC Section 307) against themselves.

In a separate development – Takeda Biopharmaceuticals India Pvt Ltd on Thursday announced the appointment of Annapurna Das as General Manager for its India operations. According to the company’s statement, in her new role, Annapurna will lead the Company in India, ensuring patient access to its highly innovative medicines and vaccines, and advancing valuable collaborations to contribute to the growing domestic healthcare and pharmaceutical market. “I am truly honoured to be entrusted with this responsibility by Takeda. India is one of the key countries for us, given its diverse population and the significant healthcare challenges,” Annapurna Das said in a statement. A part of Takeda Pharmaceutical Company Ltd headquartered in Japan, Takeda India specialises in gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology etc., it stated.

In another development – Do you want to own a commercial building or an office or a warehouse in cities like Mumbai, Pune, Bengaluru or Delhi? It’s possible and that too at an investment of as low as Rs 1 lakh, which comes to less than Rs 300 a day, through the fractional ownership model. Fractional ownership is redefining the rules of real estate in the country. The Indian real estate market is undergoing a whole range of shifts in terms of developments, investments, government reforms, and consumer behavior. Over the last few years, India has witnessed a major shift in digital progress, which has also benefited the real estate market, with internet commerce connecting sellers and buyers across the country.

Now news related to aviation – The Delhi High Court, observing the airline industry’s “very very competitive” nature and the “huge losses” incurred by players, stated that it would not be appropriate to issue directions for capping airfares across the country. A bench of Acting Chief Justice Manmohan and Justice Manmeet PS Arora said, “Market forces will decide the pricing of tickets. The industry is doing very well today. You look at any airline flying today, it is a highly competitive industry. An auto rickshaw fare is more than the airline fare today.” The court disposed of two petitions seeking regulation of flight ticket pricing and stated that it would issue a detailed order.

Lastly- The benchmark equity indices closed the trading session on a positive note on May 16. The BSE Sensex rose 649.15 points or 0.89% to finish the day’s trading at 73,636.18, while the NSE Nifty 50 closed 194.10 points or 0.87% higher at 22,394.65. Bank Nifty closed up 287.45 points or 0.60% at 47,974.90. Following the trend, Nifty Midcap 100 closed in the green up 466.25 points or 0.92% at 51,174. Tata Consumer Products, LTIMindtree, M&M, Bharti Airtel, and Tech Mahindra were the top gainers in the Nifty 50. While Maruti Suzuki, Tata Motors, SBI, BPCL, and Power Grid Corporations were the key laggards in the Nifty 50 on May 16.