Top Headlines: Lapses in pharma regulation, IPL's valuation rises 80%

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Himachal Pradesh

BS Web Team New Delhi

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Rushed green nod, poor planning in focus as rains wash away hill roads

As rains wreak havoc in several parts of north India, dozens of national highways and bridges in the country’s hilly states have been either partly or completely washed away. Himachal Pradesh has been the worst hit. There even newly constructed national highways were washed away in a few minutes by the Beas river, which is flowing above the danger mark. “Due to an unprecedented increase in water levels because of floods and opening of all gates of the Pandoh dam, the Beas river has overtopped the national highway at Dwada between Pandoh and Takoli and a landslide has also occurred near the Jalogi tunnel,” the National Highways Authority of India (NHAI) said on Monday. Read more...

Poisoned cough syrup traced to India reveals lapses in regulation

Ebrima Sagnia was frantic as he carried his son through the doors of a hospital one evening last September. A few days earlier, Lamin had been a rambunctious 3-year-old, chasing a ball around the yard. Now he was listless and unable to speak. Staff at the Edward Francis Small Teaching Hospital in the tiny West African nation of Gambia recognized the symptoms at once. They weren’t surprised to learn that Sagnia had given his son a few doses of cough syrup, just as thousands of parents around the world do every day. Read more...

IPL's enterprise valuation rises 80% to hit $15.4 billion in 2023

The business enterprise value of the Indian Premier League (IPL) on a standalone basis has hit $15.4 billion in 2023, an increase of 80 per cent over last year’s value, says Houlihan Lokey Inc, a global investment bank based in New York. This is close to the valuation of Formula One, which is pegged at $ 17.1 billion. The business value has been calculated by using a variant of the income approach popularly known as discounted cash flow, which is the present value of all future cash flows of the IPL business. Read more...

'Not possible' to straitjacket probe timelines: Sebi to Supreme Court

In a fresh submission to the Supreme Court (SC), the Securities and Exchange Board of India (Sebi) has said it was ‘not appropriate’ and ‘not possible’ to put straitjacket timelines for its proceedings and investigations. It also informed the SC that its 2019 rule changes do not make it tougher to identify beneficiaries of offshore funds. Read more...

Results preview: Poor O2C showing may pull down RIL's revenue, profit

Reliance Industries may report a muted performance for the April-June quarter of FY24, with most brokerages expecting it to have witnessed a year-on-year (YoY) and quarter-on-quarter (QoQ) contraction in revenue and net profit during the period because of a poor showing by its oil-to-chemicals (O2C) division. The O2C division, which includes refining and petrochemical businesses, accounts for a little over half of RIL’s revenue and profit. Read more...

First Published: Jul 11 2023 | 08:18 AM IST

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