Moneycontrol Pro Weekender | Where are you on India’s wealth ladder? Moneycontrol 7 hours ago
Dear Reader,
Credit Suisse has for the last decade brought out a Global Wealth Databook, which estimates the total wealth of nations, how it is divided, how many millionaires and billionaires we have and other such data. This year’s edition tells us that the richest 1 percent of Indians own 40.5 percent of the nation’s wealth, the top 5 percent own 61.7 per cent and the top 10 percent have 72.5 percent. Putting it differently, the top 5 percent own more than the other 95 percent combined.
Where do you stand on the rich list? Credit Suisse has helpfully told us what it takes to get on it. It estimates that the minimum wealth for an adult to be part of the richest 1 per cent in India is $150,902. At current rates of around Rs 74.5 to a dollar, that would be around Rs 1.12 crore. Note that this is wealth per adult and not per household.
Glenmark Life Sciences IPO - Leveraging API Base Towards Contract Development, Manufacturing: Dolat Capital
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Should you subscribe to Glenmark Life Sciences IPO? - The Hindu BusinessLine
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Glenmark Pharmaceuticals’ arm to invest Rs 600 crore to double capacity in four years
Glenmark Pharmaceuticals’ arm Glenmark Life Sciences is on track to more than double its capacity over the next four years at a cumulative investment of over Rs 600 crore. The capacity expansion is on the back of company’s plan to enter more regulated growth markets like Brazil, Mexico, Russia, Korea, Taiwan and Saudi Arabia.
The move is also part of company’s bid to cash in on from many global formulation makers (tablets, capsules, injectables, syrups etc.) bid to de-risk their procurement strategies by creating a new raw material source other than China (China plus one), which has led to a major spike in demand for active pharmaceutical ingredients (APIs) from the country.