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Ranjit Shahani will be remembered for his astute leadership and trademark calmness amid chaos. As chief of Novartis in India for nearly two decades, his tenure coincided with unprecedented challenges. Shahani had the tedious task of defending his company from a vexing patent battle while convincing the leadership to look at Indias brighter side. He balanced both with élan.
KKR & Co. is reportedly considering selling its 53.8% controlling stake in Indian pharmaceutical company JB Chemicals & Pharmaceuticals Ltd. The US private equity firm is said to be exploring options and seeking financial advisers for a potential sale, with other buyout firms and industry players expressing preliminary interest. JB Pharma's shares have seen a 68% increase in the past year, valuing the company at just over $3 billion.
Citigroup maintained a buy rating on Nestle India post Q3 results with a target price of Rs 2900. The company reported steady revenue growth and guided for a margin expansion in Q4CY23, it said.
The company reported a net profit of Rs 106 crore in the October-December period of the last fiscal.
The year 2023 was a roller-coaster ride, to say the least. Will it be any different this year? Besides the general elections, the ethical debate around AI – whether its a hope or horror — is likely to intensify. Heres what various sectors have in store for you in the new year.