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<ul><li>The 30-share BSE index was trading 559.76 points higher, while the broader NSE Nifty regained the 12,000 mark at 10:00 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Strong start on Dalal Street on Thursday, with Indian benchmark indices tracking gains in index-heavyweights Reliance Industries, Infosys, SBI, amid positive cues from global markets. The 30-share BSE index was trading 559.76 points higher, and the broader NSE Nifty climbed 1.37%, regaining the 12,000 mark at 10:00 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero Motocorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table>*as of November 5, 9:50 am State Bank of India shares leap over 6% The shares of State Bank of India gained over 6% for the second day in a row after the bank reported a <a href="https://www.businessinsider.in/finance/banks/news/sbis-profit-jumps-over-50-in-q2-plans-to-outperform-the-industry-in-credit-growth/articleshow/79039165.cms">51.88% surge in its standalone net profit </a>for the quarter ended September 30. The net interest income (NII) was up 14.56% to ₹28,181 crore in the quarter under review. <keyword id="38797" type="COMPANY" weightage="20" keywordseo="pidilite">Pidilite</keyword> Industries shares gained over 2% The shares of Fevicol maker, Pidilite Industries, gained over 2% after it reported a 9.66% increase in consolidated net profit to ₹356.44 crore for the quarter ended September 30. The company’s revenue from operations rose 4.08% at ₹1,880.33 crore during the quarter under review. <keyword id="799" type="CITY" weightage="20" keywordseo="PVR">PVR</keyword> and <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">INOX Leisure</keyword> share gains over 2% The shares of PVR and Inox Leisure gained over 2% after <a href="https://www.businessinsider.in/india/news/maharashtra-government-allows-reopening-of-cinema-halls-with-50-capacity-from-november-5/articleshow/79041693.cms?upcache=2">the Maharashtra Government has now allowed cinema halls</a> to open in areas outside containment zones, with 50% of their seating capacity from today. JK Lakshmi Cement trades 3% higher The shares of JK Lakshmi Cement were trading 3% higher on Thursday after the company reported an 86.90% rise in consolidated net profit to ₹92.93 crore for the second quarter ended September 30, helped by cost reduction. The revenue from operations rose 11.79% to ₹1,131.74 crore during the quarter under review. <keyword id="6471024" type="COMPANY" weightage="20" keywordseo="basf">BASF</keyword> shares soar 12% The shares of chemical manufacturer BASF soared 12% after it registered <a href="https://www.business-standard.com/article/news-cm/basf-india-standalone-net-profit-rises-17614-66-in-the-september-2020-quarter-120110401129_1.html">17615% </a>growth in its standalone net profit to ₹410.98 crore for the quarter ended September 30. The company had reported a net profit of ₹2.32 crore during the same quarter last year. <keyword id="10224242" type="UNKNOWN" weightage="20" keywordseo="happiest-minds-tech">Happiest Minds Tech</keyword> shares crash over 6% The shares of Happiest Minds Tech crashed over 6% during the trade today after its net profit was down 32% quarter-on-quarter to ₹34.08 crore. Although it registered a growth of 28% y-o-y, the sequential drop left the investors in a worry. <keyword id="151144" type="COMPANY" weightage="20" keywordseo="SRF">SRF</keyword> shares gain 6% The shares of chemicals maker SRF gained over 6% after its consolidated net profit rose 57% to ₹316 crore for the quarter ended September 30. The consolidated revenue of the company increased by 21% to ₹2,101 crore. SEE ALSO:<a href="https://www.businessinsider.in/politics/world/news/2020-election-see-insiders-comprehensive-guide-to-the-presidential-and-top-congressional-races/articleshow/78878848.cms" data-type="tilCustomLink"> LIVE RESULTS: Biden inches towards 270 electoral votes win with results still outstanding in 4 key states</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-pvr-inox-leisure-sbi-cards-hpcl-pidilite-industries-adani-power-berger-paints-and-others/articleshow/79053310.cms" data-type="tilCustomLink">Top stocks to watch — PVR, Inox Leisure, SBI Cards, HPCL, Pidilite Industries, Adani Power, Berger Paints, and others</a>

Top stock movers — SBI, HCL Tech, SRF, BASF, Happiest Minds Tech, Pidilite, PVR, INOX Leisure, and others

<ul><li>In the Asian market, the SGX Nifty was trading 0.38% lower at 7:49 am, indicating a lower start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst negative cues from the global markets, the Indian equities are likely to open in red on Wednesday. In the Asian market, the SGX Nifty was trading 0.38% lower at 7:49 am, indicating a lower start for Nifty50. The US stocks ended lower on Tuesday as investors digested a slew of earnings reports. The Dow Jones Industrial Average closed 0.55% lower, whereas the S&amp;P 500 lost over 22.29 points. These are the stocks to watch out for during the trading session on October 14: Future Enterprises Kishore Biyani led Future Group entity; Future Enterprises defaulted on a payment of the interest on Non-Convertible Debentures with ₹15.14 crore. The due date for fulfilling the interest was October 12. This may move stocks of other Future Group entities like Future Retail, Future Lifestyle Fashion, Future Consumer, among others. The shares of Future Enterprises ended 2% lower, whereas Future Retail, Future Lifestyle Fashion, and Future Consumer were up 7%, 4% and 2%, respectively. Wipro The IT services giant Wipro posted a <a href="https://www.businessinsider.in/business/corporates/news/wipro-posts-stable-quarter-profit-rises-3-2-with-revenue-guidance-of-1-5-to-3-5-over-the-next-three-months/articleshow/78640025.cms">stable quarter </a>with a 3.2% rise in profit and has guided for a 1.5-3.5% revenue growth in Q3. The board has also approved a <a href="https://www.businessinsider.in/business/corporates/news/wipro-board-approves-9500-crore-share-buyback-plan/articleshow/78638511.cms">buyback plan</a> up to ₹9,500 crore at ₹400 per share. The shares of Wipro ended 0.61% higher yesterday. Infosys Also, watch out for the IT major Infosys stocks — the company is scheduled to report its second-quarterly earnings. Investors are watching out for a <a href="https://www.businessinsider.in/business/corporates/news/infosys-announce-second-quarter-earnings-on-october-14/articleshow/78640964.cms">guidance revision </a>on the higher side. The shares of Infosys ended 3% higher yesterday. Bharti Airtel The telco giant Bharti Airtel Group entities moved to the Supreme Court challenging the National Company Law Appellate Tribunal (NCLAT) order directing them to pay more than ₹100 crore to Aircel. The shares of Bharti Airtel ended 0.23% higher yesterday. IRCTC The Indian Railways operator Indian Railway Catering and Tourism Corporation (IRCTC) announced the completion of tenure of Comal Ramachandran Sundaramurti as an Independent Director on the Board. The shares of IRCTC ended 0.18% higher yesterday. SRF Limited The specialty chemicals manufacturing company SRF’s Qualified Institutional Placement (QIP) committee is scheduled to meet on October 16 to decide the issue price. The shares of SRF Limited ended 0.16% higher yesterday. NTPC Limited The company announced its plans to raise ₹4,000 crore via the issue of Non-Convertible Debentures. The shares of NTPC Limited ended 0.12% higher yesterday. Adani Green The Competition Commission of India (CCI) has approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar. The shares of Adani Green ended 5% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms" data-type="tilCustomLink">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a> <a href="https://www.businessinsider.in/tech/news/apple-just-revealed-the-magsafe-charger-a-brand-new-wireless-charging-pad-for-iphone/articleshow/78647415.cms" data-type="tilCustomLink">Apple just revealed the $40 MagSafe charger, a brand new wireless charging pad for iPhone 12</a>

Top stocks to watch — Wipro, Infosys, Future Retail, Airtel, IRCTC, SRF, and others

<ul class="summary-list"><li>My son was diagnosed with SynGAP, a rare genetic disorder.</li><li>It causes seizures, sleep disorders, intellectual impairment, aggression, and other risk factors.</li></ul>When my son Tony was born in 2014, he appeared healthy and neurotypical but started to miss <a href="https://www.insider.com/guides/parenting/baby-milestones-first-six-months">milestones</a> early. He never rolled over, was late to <a href="https://www.insider.com/guides/parenting/best-tummy-time-toys">sit and crawl</a>, and would often look at us with bemusement when we tried to convince him to clap, wave, or point. By age 2, it was clear that something was amiss; he only spoke 10 words.When he was nearly 3, he had his first visible seizure. We were terrified. That set off months' worth of tests, uncertainty, and fear, after which Tony was diagnosed with a rare genetic disease called <a href="https://www.syngapresearchfund.org/home/what-is-syngap1" target="_blank" rel="noopener">SynGAP</a>. At this point, we had failed on two anti-seizure medications and were using <a href="https://www.insider.com/mom-put-toddler-keto-diet-prevent-seizures-was-difficult-2022-7">keto</a> and CBD to treat Tony.At age 4, Tony began to experience severe sleep disruption. As he grew, so did his major behavioral issues. By age 8, he was on a slew of medications to manage everything from seizures to anxiety. The <a href="https://www.insider.com/my-child-diagnosed-rare-genetic-condition-syngap1-2022-6">risks to a SynGAP</a> patient are almost endless. Most individuals with this disease have half the necessary amount of the SynGAP protein, which plays a role in many of our human functions, which explains why they experience so many life-altering symptoms. So, the numerous problems an intellectually impaired person faces combine with refractory epilepsy and aggressive autism in a SynGAP patient, which is a recipe for catastrophe.For example, Tony doesn't understand danger like a neurotypical kid, is easily agitated, and suffers from seizures and disordered sleep. As his parents, we constantly worry about him developing drop seizures, jumping into danger without warning, or having a meltdown — which often leads to unkind responses from onlookers.He will never get better with the current medical options available. The physical and emotional toll this diagnosis takes on families is impossible to put into words. <h2>We won't find a cure for him, but could help others</h2>As my wife, <a href="https://www.businessinsider.com/carlyle-partners-ashley-evans-anna-tye-women-in-private-equity-2022-2">Ashley</a>, and I experienced our first waves of grief, we channeled that energy into educating ourselves and problem-solving. We spoke to every scientist and biotech leader who would pick up the phone. After three months of listening and taking notes, often late into the night, aided by PubMed, ClinVar, and coffee, two things became clear to us.First, curing SynGAP is theoretically possible. The science and technology to target and correct a single gene mutation exist. For example, spinal muscular atrophy, a fatal disease that, like SynGAP, is caused by a mutation on one copy of a single gene, is treated by antisense oligonucleotides (ASOs) and gene therapy. Second, curing SynGAP in the timeframe that mattered for our son — the time it would take to build his brain — was not particularly likely. Even though the treatment for SynGAP is scientifically possible, the chasm from the academic's brain to the patient's bedside is wide. Professors think of new insights and publish papers. Biotechs and pharmaceutical companies scour these papers and conduct some of their own research, but they have a finite amount of resources, and preclinical discovery and clinical trials are high-cost and high-risk. Finally, regulators still struggle with novel therapeutics, which creates investment-killing uncertainty. <div type="image" title="Dad posing with son" height="1022" width="1362" msid="102023303" hostid="261" sizebytes="103670"></div>We decided to do everything we could to help a cure for SynGAP cross that chasm. Our child did not ask for his difficulties, and we did not ask for permission; we got to work.<h2>We took a loan against our home to help research</h2>In 2018, we took out a loan against our home, and the SynGAP Research Fund (SRF) was born. It was the start of a journey that would become something we never could have imagined. We wanted to help Tony and kids like him through research. I did not anticipate that searching for donors and answers would lead us to other SynGAP patients, which changed our lives. A rare disease diagnosis is isolating. We learned through this work that the disease was <a href="https://www.syngapresearchfund.org/post/why-are-we-so-sure-that-syngap1-related-intellectual-disability-is-under-diagnosed" target="_blank" rel="noopener">much more prevalent</a> than previously understood. Meeting other families, who understand what our life is really like, gave us a meaningful community. We all work together, talk about our challenges, and have a sense of shared responsibility and love for the kids. SRF has committed over $4 million to research. Over the last year, four biotechs have launched programs for genetic therapies for SYNGAP1, one university has announced a major program, and multiple drug repurposing efforts are in flight. We know Tony will live with symptoms caused by SynGAP for the rest of his life, but we are on the cusp of a breakthrough that will significantly ease the struggle for him, our family and thousands of others around the world. What was once implausible — treating the root cause of Tony's condition — now appears inevitable.Today, instead of wanting to help "kids like Tony," I have a collection of hundreds of names and personal stories of the unique challenges SynGAP presents for each family. It is no longer abstract. As SRF has grown, so has our connection. As amazing as the scientific breakthroughs are, the true miracle of the foundation is the village that we have created to help each other through what might otherwise have been an impossible circumstance. And we are just getting started.

I've raised over $4 million for research on my son's disorder. A cure won't happen in his lifetime, but I want to help others.

<ul class="summary-list"><li>Two couples who moved to Aarwangen, Switzerland, complained that cowbells kept them up all night.</li><li>But longtime residents were outraged and started a petition to preserve the cowbells.</li></ul>If cowbells clang constantly in the middle of the night is it unwelcome noise or a cherished cultural tradition?That was the question raised in the small village of <a target="_blank" href="https://www.businessinsider.com/switzerland-best-country-business-friendly-tax-us-most-powerful-2022-9">Aarwangen, Switzerland</a>, when newcomers to the town complained that the traditional cowbells were keeping them up all night.Two separate couples that had recently moved to the area, located between Zurich and Bern, lodged official complaints with the village council about the noise, <a target="_blank" href="https://www.bbc.com/news/world-europe-67296413">BBC News</a> reported.But the sounds are common in <a target="_blank" href="https://www.insider.com/switzerland-village-roggwil-hidden-gem-destination-backpacking-europe-2023-9">rural Switzerland</a>, where traditional farmhouses keep dairy cows on rolling green pastures, with the cowbells dangling from their necks.Longtime locals of Aarwangen, which has a population of about 4,700, were outraged over the recent transplants' complaints, arguing that the sound of cowbells was part of their <a target="_blank" href="https://www.businessinsider.com/things-to-do-in-switzerland-2017-2">traditional Swiss culture</a>, Mayor Niklaus Lundsgaard-Hansen told the BBC.There are about five or six farmers in the village, and one of them said the complaints were a "personal insult to him and his cows," the mayor said.Residents quickly circulated a petition to vote on preserving the use of the cowbells."As soon as I hear them, I know I'm back home," Andreas Baumann told the BBC, adding that those bothered by them should live somewhere else as they have "too romantic a notion of rural life."Lundsgaard-Hansen told <a target="_blank" href="https://www.cbc.ca/radio/asithappens/cowbell-dispute-swiss-village-1.7018241">CBC</a> that while he supports the bells, he does not think it warrants a universal vote and that it should be dealt with on a case-by-case basis. The original complaint has since been raised to the regional government, and a decision on it is expected in the coming weeks.As for the couples that lodged the complaints, one had already withdrawn theirs, while the other is planning to leave the village, Lundsgaard-Hansen told Swiss broadcaster <a target="_blank" href="https://www.swissinfo.ch/eng/business/complaints-spark-wave-of-support-for-cowbells-in-bern-village/48943444">SRF</a>.The BBC reported that other <a target="_blank" href="https://www.insider.com/why-brienz-switzerland-had-to-evacuate-possible-rockslide-photos-2023-5">villages in Switzerland</a> are also debating about whether or not the cowbells, previously used by farmers to keep track of their stock, are necessary for modern farming, where the animals often have electric chips or graze in fenced-off areas.But the outlet said that for many Swiss people, keeping the cowbells is more about preserving a certain way of life.

Transplants in a small Swiss village complained clanging cowbells kept them up all night. Locals sided with the cows.

<ul><li>Chemspec Chemicals is looking to raise ₹700 crore through a complete offer for sale by promoters.</li><li>Chemspec Chemicals is one of the leading manufacturers globally of critical additives for FMCG ingredients used in skin and hair care products, and intermediates for active pharmaceutical ingredient (APIs) used in antihypertensive drugs.</li><li>The company exports products to 42 countries in North America, Europe, Asia Pacific region, the Middle East and Africa. </li></ul> The year 2021 continues to witness a barrage of initial public offerings (IPO). Here is another, which is gearing up for a listing soon. The chemical manufacturing company filed a draft red herring prospectus (DRHP) on July 14. A DRHP is filed when a company is planning to raise money from and it provides details about its business operations and financials. The company is looking to raise ₹700 crore through a complete offer for sale (OFS) by existing promoters Bhaichand Amoluk Consultancy Services (₹233 crore), Mitul Vora (₹233 crore) and Rushabh Vora (₹233 crore). Chemspec Chemicals is one of the leading manufacturers, globally, of critical additives for fast moving consumer goods (FMCG) ingredients used in skin and hair care products, and intermediates for active pharmaceutical ingredient (APIs) used in antihypertensive drugs. As part of its FMCG product portfolio, it manufactures active ingredients used in sunscreen lotions and creams, antibacterial soaps, anti-dandruff shampoos, and preservatives. The Company is also the largest manufacturer of ‘piroctone olamine’ in India, and the largest producer of ‘chemilide’ (an antibacterial ingredient) in the world with an approximate market share of 70% market share. Its clientele include Beiersdorf AG, Unilever Supply Chain Company AG, L’Oreal, DSM Nutritional Products, Godrej Consumers Products, Glenmark Life Sciences, Dr. Reddy's Laboratories, CTX Lifesciences etc. Over the years, the company has evolved from a local supplier to FMCG companies in India to a supplier to multinational FMCG companies in 43 countries across five continents. Revenue from such companies constituted 86.67%, 88.88% and 89.76% of total revenue from operations in FY21, FY20 and FY19 respectively. The company manufactures these products at Taloja facility in Maharashtra. It has been exporting its products to 43 countries in North America, Europe, the Asia Pacific region (APAC) including Japan, the Middle East and Africa <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 335 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 607 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 510 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 5 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 60 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 81 crore </td></tr></tbody></table> The company’s peers including SRF, Vinati Organics, Galaxy Surfactants and so on have delivered good double digit returns in the last six months . <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Peer companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Stock returns in Jan 2021-June 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Galaxy Surfactants </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vinati Organics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aarti Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">38% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SRF </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">27% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Fine Organic </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">PI Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">28% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Navin Fluorine </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">42% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/g-r-infraprojects-ipo-makes-a-strong-listing-on-exchanges-with-over-100-premium-shares-open-at-1700/articleshow/84542747.cms">G R Infraprojects IPO makes a strong listing on exchanges with over 100% premium, shares open at ₹1700 </a> <a href="https://www.businessinsider.in/stock-market/news/clean-science-and-technology-ipo-shares-list-at-100-premium-on-exchanges/articleshow/84542576.cms">Clean Science and Technology IPO: Shares list at 100% premium on exchanges </a>

Another IPO coming your way: Chemspec Chemicals looks to raise ₹700 crore through public listing

<ul class="summary-list"><li>As part of the AUKUS agreement, US and British subs will operate out of western Australia by 2027.</li><li>That location will allow allied subs to spend more time operating in the Pacific and Indian oceans.</li></ul>US and British submarines will soon be operating out of Australia, giving the allies greater reach and presence in the Indian and Pacific oceans, where undersea activity by <a href="https://www.businessinsider.com/threat-from-china-driving-submarine-arms-race-in-indo-pacific-2019-2" target="_blank" rel="noopener noreferrer">friends and foes alike</a> has been intensifying.In March, President Joe Biden and his British and Australian counterparts announced a timeline for Australia to acquire new nuclear-powered submarines, first buying US-built subs in the early 2030s and then receiving the first Australian-built boats by the early 2040s.In the next few years, however, US and British subs will visit Australia more frequently, and as soon as 2027, those navies will begin basing attack submarines — one British and as many as four from the US — at HMAS Stirling, an Australian navy base near the city of Perth on the Indian Ocean coast.Designated Submarine Rotational Forces-West, the subs will rotate through HMAS Stirling rather than being permanently assigned, and officials say their presence will help develop Australia's capacity and capability to operate its own nuclear-powered subs."This rotational force will help build Australia's stewardship," a senior Biden administration official said ahead of the March 13 announcement. "It will also bolster deterrence with more US and UK submarines forward in the Indo-Pacific."<div type="image" title="Russian submarines Vostok Pacific Vladivostok" height="1333" width="2000" msid="100399938" hostid="261"></div>The AUKUS deal comes as each country's main rivals — China and Russia — expand their submarine fleets and operations in the Pacific.Russia continues to deliver new submarines to its Pacific Fleet, including <a href="https://www.janes.com/defence-news/news-detail/russias-pacific-fleet-receives-newest-nuclear-powered-submarines" target="_blank" rel="noopener">two in one day</a> in October. One of those was the latest of the Yasen-class guided-missile subs, which worry US commanders because their ability to operate more quietly than other Russian subs could challenge the US Navy's ability to track them.Yasen-class subs operating in the Atlantic and the Pacific present "<a href="https://www.businessinsider.com/russian-yasen-class-cruise-missile-submarines-worry-us-commanders-2023-1" target="_blank" rel="noopener">a dual-flank challenge</a>" for the US, the admiral in charge of the Office of Naval Intelligence said earlier this year. The head of US Northern Command, which is responsible for North America, <a href="https://www.businessinsider.com/us-navy-submarines-more-visible-message-to-russian-sub-fleet-2023-5" target="_blank" rel="noopener">said this spring</a> it was "just a matter of probably a year or two" until Yasen-class subs were "a persistent threat" to the US mainland.China's submarines are generally not as advanced as Russia's, but its navy has put "a high priority" on modernizing them, the US Defense Department said in its most recent report on the Chinese military, though that fleet will "grow modestly" as China focuses on improving the force, adding new technologies, and expanding its shipyards.<div type="image" title="Navy Ray Mabus China Chinese Yuan submarine" height="999" width="1400" msid="100399941" hostid="261"></div>Nonetheless, China's undersea force has made notable developments. Its newest Yuan-class diesel-electric subs are quiet and have more advanced sonars and "might be actually pretty good at anti-submarine warfare," said Bryan Clark, a senior fellow and director of the Center for Defense Concepts and Technology at the Hudson Institute.The Defense Department report also says China's six operational Jin-class nuclear-powered ballistic-missile subs are likely already conducting "near-continuous at-sea deterrence patrols," a sign that China's submarine force continues to improve its operational capabilities.The head of US Strategic Command, which oversees US nuclear forces, told lawmakers this spring that those Jin-class subs are being armed with new third-generation JL-3 ballistic missiles that can reach the US from the South China Sea, a first for Chinese subs.For the US Navy, those developments make the ability to base subs closer to the Western Pacific a greater priority.Twenty-five of the US Navy's 49 attack submarines are <a href="https://www.cnn.com/2023/04/05/us/us-navy-submarine-pacific-china-intl-hnk-ml/index.html" target="_blank" rel="noopener">based in the Pacific</a>, according to Rear Adm. Jeffrey Jablon, commander of the US Pacific Fleet submarine force, and the Navy has moved some of them farther west. In November 2021, Jablon <a href="https://www.navytimes.com/news/your-navy/2022/04/15/navy-bolsters-submarine-force-in-guam-to-support-indo-pacific-missions/" target="_blank" rel="noopener">announced</a> that the number of subs based in Guam would increase from two to five; the fifth arrived in March 2022.Jablon also <a href="https://news.usni.org/2022/11/02/navy-expanding-attack-submarine-presence-on-guam-as-a-hedge-against-growing-chinese-fleet" target="_blank" rel="noopener">announced</a> in November 2022 that the Navy would increase investment in its submarine support facilities in Guam in order to expand its operational capability there.<div type="image" title="A Type 094B Jin-class ballistic missile submarine" height="2392" width="3830" msid="100399944" hostid="261"></div>Like Guam, operating from Australia would put more subs closer to the Western Pacific and allow those subs to spend more time at sea. Subs based at Perth could do longer-term deployments, operating in the region for up to a year "as opposed to a normal deployment, which is six months where you spend a month transiting either way from the US West Coast and you basically get four months on station," Clark, a former US Navy submarine officer, told Insider.Travel time from the West or East Coast "is obviated if you're staging from" Perth, Harry Harris Jr. a retired US admiral and former commander of US Pacific Command, said in response to a question from Insider at a think-tank event on March 30.Harris Jr. called SRF-West "a positive" and said "it certainly increases our day-to-day presence and numbers in the Indian Ocean [and] certainly in the Western Pacific."Forward-deployed subs also usually have a higher operational tempo, and with roughly a half-dozen subs in Guam and three to four in Perth, Clark said, "you're going to have on any given day easily a half-dozen to eight submarines underway, driving around, which is more than we have today.""The end result could be almost doubling the US submarine presence in the Western Pacific," Clark added.Chinese submarines now appear to operate mostly in the "near seas" off of the Chinese coast, especially its missile subs in the "bastion" of the South China Sea, where China's naval and air forces offer additional protection.The development of more advanced subs, particularly nuclear-powered subs capable of staying at sea for longer, may allow the Chinese navy to send more subs into more distant waters for longer periods, including into the Indian Ocean, where China's military is likely to "significantly increase" its presence in the coming years as part of a strategy that calls for "an ability to project power and fight in distant seas," according the Office of Naval Intelligence.<div type="image" title="South Korea submarine HMAS Stirling Australia" height="1177" width="2000" msid="100399946" hostid="261"></div>Chinese subs heading to the Indian Ocean are likely to use straits in the Indonesian archipelago that are closer to Australia, which are deeper and allow those subs to remain submerged, according to Collin Koh, a research fellow focused on naval affairs at the S. Rajaratnam School of International Studies in Singapore."Having UK and US subs based in Perth can provide a vantage point to range operations into those areas," Koh said.AUKUS' ambitions for increasing the number of submarines in the Indian and Pacific oceans still face hurdles. Australia will have to develop the institutional knowledge and facilities to maintain nuclear-powered subs, which it has never done before, and its future sub orders may further tax US shipyards, which are <a href="https://www.defensenews.com/naval/2022/01/03/us-navy-avoided-a-2022-trough-in-submarine-fleet-size-but-industry-challenges-threaten-future-growth/" target="_blank" rel="noopener">straining</a> to deliver subs <a href="https://news.usni.org/2023/04/20/navy-will-have-challenges-meeting-submarine-delivery-schedules" target="_blank" rel="noopener">ordered</a> by the US Navy. Delays on sub <a href="https://news.usni.org/2022/09/21/navsea-navy-struggling-to-get-attack-subs-out-of-repairs-on-time-as-demand-increases" target="_blank" rel="noopener">repairs</a> are also challenging the US Navy's ability to keep subs in the water.But additional British and eventually Australian submarines in the region will ease the burden of tracking China's increasingly active sub fleet, a task that now falls largely on US submarines. "This may compel Beijing to seek to minimize the risks of detectability and trackability of its submarines," Koh told Insider.Until the Chinese military improves its ability "to project and sustain a wider array of military capabilities" to help keep those allied subs at bay, its subs may continue to focus on operations within range of friendly naval and land-based forces, Koh said. "This means the AUKUS program may complicate Beijing's efforts to range submarine operations out into the far-seas."

The US Navy has its eyes on a new submarine base that will help it keep track of China's growing undersea fleet

<ul><li>The SGX Nifty was trading 0.04% lower at 7:51 am, indicating a flat start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian stock market is likely to open with a negative bias on Tuesday. The SGX Nifty was trading 0.04% lower at 7:51 am, indicating a flat start for Nifty50. Whereas, the US stocks ended the Monday higher as the tech stocks rallied amid the stimulus hopes. The Dow Jones Industrial Average closed 250.62 points higher; whereas the S&amp;P 500 was up over 1.6%. These are the stocks to watch out for during the trading session on October 13: Lakshmi Vilas Bank The private lender Lakshmi Vilas Bank (LVB) informed stock-exchanges that its board would meet on October 15 to consider a rights issue to raise capital up to ₹1,000 crore. The shares of Lakshmi Vilas Bank closed 5% lower yesterday. Reliance Industries The Mukesh-Ambani owned Reliance Jio became the first telecom company in India to cross 40 crore customers mark with the net addition of over 35 lakh subscribers in July, according to the telecom regulator TRAI data released on October 12. The shares of RIL closed 0.11% higher yesterday. Airtel and Vodafone The stocks of other telecom giants Airtel and Vodafone, will also remain in focus. As per the TRAI data, Vodafone Idea lost 3.7 million users, and Bharti Airtel added over 3.26 million wireless subscribers in July. The shares of Airtel and Vodafone closed nearly 3% lower yesterday. Infosys The IT giant Infosys has completed the acquisition of a US-based product design and development firm Kaleidoscope Innovation for about ₹308 crore. The company will also be posting its quarterly earnings tomorrow. The shares of Infosys closed 2.93% higher yesterday. SRF Limited The fluorochemicals, speciality chemicals manufacturing company SRF has set the floor price of its qualified institutional placement (QIP) at ₹4,168.73 per share. The shares of SRF Limited closed 2.67% higher yesterday. Shalby Multispeciality hospital chain Shalby reported a consolidated net profit of ₹24.5 crore in the second quarter ended September 30 compared to ₹12.9 crore year-on-year. However, the company’s overall revenue fell to ₹115.6 crore from ₹125.7 crore at the same time last year. The shares of Shalby closed 4% higher yesterday. Cipla The drug major Cipla said the company’s step-down associate firm Avenue Therapeutics Inc had received a complete response letter (CRL) from the US health regulator for its new drug application for intravenous tramadol. The letter stated that IV tramadol intended to treat patients in acute pain who require an opioid is not safe for the intended patient population. The shares of Cipla closed 1.81% higher yesterday. Wipro The tech giant Wipro is slated to announce its earnings for the second quarter ended September 30. The shares of Wipro closed 1.47% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/johnson-johnson-just-paused-its-coronavirus-vaccine-trials-after-an-unexplained-illness-in-a-participant/articleshow/78630971.cms" data-type="tilCustomLink">Johnson &amp; Johnson just paused its coronavirus vaccine trials after an 'unexplained illness' in a participant</a> <a href="https://www.businessinsider.in/tech/news/the-iphone-12-could-be-apples-most-important-product-release-in-the-last-decade/articleshow/78627338.cms" data-type="tilCustomLink">The iPhone 12 could be Apple's most important product release in the past decade</a>

Top stocks to watch — RIL, Airtel, Vodafone-Idea, Infosys, Wipro, Shalby, Cipla, and others

<ul><li><keyword id="11546988" type="UNKNOWN" weightage="20" keywordseo="Clean-Science-and-Technology">Clean Science and Technology</keyword>’s ₹1,546 crore IPO has opened for subscription and investors can apply till July 9. </li><li>The IPO has a price band of ₹880-900 per share. </li><li>The IPO is a complete offer for sale (OFS) by existing promoters and other shareholders to reduce their stake in the firm.</li><li>Most analysts have recommended subscribing to the specialty chemical manufacturer’s IPO on strong industry outlook and financials of the company. </li></ul>Clean Science and Technology is said to be one of the largest manufacturers of certain specialty chemicals in the country. And it’s investors are trying to cash out of the Pune-based company through the initial public offering (IPO), from July 7-9, at a time when the tide is in favour of the entire sector. The entire ₹1,546 crore share sale ⁠— priced at ₹880-900 a piece⁠ — will be from existing investors Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). Even though the company is not using the IPO money to expand its business, broking firms recommend that investors must subscribe. “We believe that the Indian specialty chemical industry is going to be one of the biggest beneficiaries of shifting of supply chains post the COVID-19 pandemic. Given the company’s financial performance, industry leading returns ratios and favourable outlook for the industry we recommend ‘subscribe’ to the IPO issue, said Angel Broking in a report. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking House </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Capital </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> The pandemic has been a blessing in disguise for the specialty chemicals sector. The stalling of imports from China in the last year translated to more buyers in India, who were otherwise buying from China, leading to a 20% revenue growth for the company in the year ending March 2021. “Since specialty chemicals come under essential services, there was not a very strong impact of the lockdown on our financials, but yes demand was impacted. For some products there was low demand and for some demand was significantly better. In fact, our revenues went up over 20% in FY2020,” Siddhartha Ashok Sikchi, promoter and wholetime director, told Business Insider <a href="https://www.businessinsider.in/stock-market/news/clean-science-and-technology-ipo-the-company-has-net-cash-of-192-crore/articleshow/84165887.cms">in a recent interview</a>. The disruption in global supply from China has also got them more buyers in other parts of the world. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">393 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">419 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">512 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">97.7 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">139.6 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">198.4 </td></tr></tbody></table>(in crores) Source: Report by Investmentz.com The company manufactures critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, fast moving consumer goods (FMCG) chemicals and other products. More than two-thirds of the company’s revenue comes from export clients in China, Canada, Europe, the United States of America, Taiwan, Korea, and Japan. Some of the company’s key customers include: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bayer AG and SRF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Agrochemicals </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gennex Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pharmaceutical intermediaries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vinati Organics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Monomer products </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nutriad International NV </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Animal nutrition products </td></tr></tbody></table>Source: Hem Securities report dated July 6 Some of the company's customers have also been associated with the company for over 10 years, the report added. However, in the last three years, the company has reduced its dependence on top clients. Revenue from top 10 clients fell from over half of total revenue in the financial year 2019 to 47.9% at the end of March 2021. The global specialty chemicals market is projected to grow at an annual compounded rate of 5% to reach $1.09 trillion by 2025. Some of the segments such as pharma APIs, agrochemicals, construction chemicals, home &amp; personal care and additives are poised to grow at much higher rates than the overall industry, said Aditya birla Capital in a report dated July 5. No wonder, then, peer companies that are listed have given investors remarkable returns in the last one year. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 12 months change (From June 2020 to June 2021) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vinati Organics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fine Organic Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">49% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Atul </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SRF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Camlin Fine Science </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">356% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/tech/news/a-small-hospital-assam-is-using-ai-to-detect-strokes-in-tea-planters/articleshow/84194042.cms">A small hospital Assam is using AI to detect strokes in tea planters (businessinsider.in)</a> <a href="https://www.businessinsider.in/stock-market/news/gr-infraprojects-ipo-good-ipo-bet-for-long-term-as-per-analysts/articleshow/84193656.cms">GR Infraprojects IPO is for long term investors, say analysts | Business Insider India</a>

Clean Science and Technology, an Indian supplier to Bayer, has opened its IPO ⁠— and ‘subscribe’ is the unanimous call from analysts

<ul class="summary-list"><li>Around 40% of <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> patients in intensive care in <keyword id="103" type="COUNTRY" weightage="60" keywordseo="Switzerland">Switzerland</keyword> were under 60 years old, according to the Swiss Society of Intensive Care Medicine in results published on Saturday by Swiss media network <a href="https://www.srf.ch/news/schweiz/schweizer-intensivstationen-40-prozent-der-covid-19-intensivpatienten-waren-unter-60">SRF</a>.</li><li>The report showed that of the country's ICU patients under 60, more than a third did not have "relevant pre-existing conditions."</li><li>COVID-19 patients under 60 in intensive care in Switzerland were more likely to survive than older age groups also in intensive care, the report concluded.</li><li>Switzerland has reported a total of 30,845 COVID-19 cases, according to Johns Hopkins University.</li></ul>A new report published by the Swiss Society of Intensive Care Medicine (SSICM) shows that among Switzerland's COVID-19 patients in intensive care, around 40% were under 60 years old.The SSICM's latest<a href="https://www.srf.ch/news/schweiz/schweizer-intensivstationen-40-prozent-der-covid-19-intensivpatienten-waren-unter-60"> report</a>, which was published by Swiss media network SRF on Saturday, shows that more than a third of the country's intensive care patients under 60 did not have <a href="https://www.srf.ch/news/schweiz/schweizer-intensivstationen-40-prozent-der-covid-19-intensivpatienten-waren-unter-60">"relevant pre-existing conditions" including diabetes or high blood pressure</a>.Antje Heise, deputy president of the SSCIM, told SRF: "For the large majority of patients on intensive care units, and these include younger patients, it's a long process. Afterwards they have to spend a certain time on a normal ward. After that, it's not so easy for them to simply go back to working again."However, the SSCIM reported, the majority of deaths occurred in COVID-19 intensive care patients over the age of 60, while the younger patients generally survived.<div type="image" title="commuters in lausanne switzerland may 2020" height="3603" width="4804" msid="76126147" hostid="261"></div>While there is still much to discover about how the novel coronavirus affects different populations, including <a href="https://www.businessinsider.com/can-children-spread-the-coronavirus-to-others-evidence-2020-5">kids</a> and <a href="https://www.businessinsider.com/a-small-new-study-suggests-the-coronavirus-damages-the-placenta-2020-5">pregnant women</a>, the latest report from Switzerland appears to mirror reports from the US Centers for Disease Control and Prevention about the age distribution of COVID-19 patients.In the US, a nearly 30% of confirmed coronavirus cases have been among people between 20–44, according to the <a href="https://www.cdc.gov/mmwr/volumes/69/wr/pdfs/mm6912e2-H.pdf">CDC</a>.<a href="https://www.businessinsider.com/30-percent-us-coronavirus-cases-people-between-ages-20-44-2020-3">Patients in that age group made up 20% of hospitalizations</a> and 12% of ICU admissions among US coronavirus cases. Additionally, adults aged 45–64 years accounted for 36% of intensive care unit admissions in the US, the <keyword id="6379474" type="ORGANIZATION" weightage="60" keywordseo="cdc">CDC</keyword> reported.<div type="image" title="face masks in geneva switzerland coronavirus" height="3456" width="4608" msid="76126150" hostid="261"></div><h2>Switzerland has joined other European nations in relaxing lockdown restrictions over the past month</h2>Many European countries have been <a href="https://www.insider.com/italy-lockdown-restrictions-relaxed-photos-2020-5">relaxing lockdown guidelines</a> after being in quarantine and living under curfew for weeks and months. Switzerland, for example, now <a href="https://www.weforum.org/agenda/2020/05/switzerland-relaxing-its-coronavirus-lockdown-measures/">allows people to dine at restaurants and bars</a> and officially announced at the end of April that<a href="https://www.businessinsider.com/children-can-hug-their-grandparents-swiss-infectious-disease-chief-2020-4"> kids 10 and under can hug their grandparents</a>.<a href="https://coronavirus.jhu.edu/data/mortality">Switzerland has reported a total of 30,845 COVID-19 cases</a> and 1,919 deaths at the time of writing, according to Johns Hopkins University's Coronavirus Resource Center.<ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/coronavirus-covid19-pandemic-scientific-facts-learned-since-outbreak-2019-2020-4">18 critical things we've learned about the coronavirus since the earliest reported cases in China</a></li><li><a href="https://www.businessinsider.com/30-percent-us-coronavirus-cases-people-between-ages-20-44-2020-3">Nearly 30% of US coronavirus cases have been among people 20-44 years old, the CDC says — showing that young people are getting sick, too</a></li><li><a href="https://www.insider.com/italy-lockdown-restrictions-relaxed-photos-2020-5">Photos show people in Italy leaving their homes as the country eases its lockdown restrictions after almost 2 months</a></li></ul>Read the original article on <a href="https://www.insider.com/switzerland-coronavirus-patients-intensive-care-ages-2020-5">Insider</a>

Around 40% of Switzerland's COVID-19 intensive care patients were under 60 years old, according to a new report

<ul><li>The speciality chemical manufacturing company is looking to raise ₹500 crore through the public issue of shares.</li><li>The bidding process for the IPO will start on July 16 and close on July 20.</li><li>Tatva Chintan Pharma Chem manufactures a range of products in specialty chemicals that serves various industries including the automotive, petroleum, pharmaceutical, agro chemicals and so on.</li></ul>The Gujarat-based speciality chemical company, Tatva Chintan Pharma Chem is set to launch its initial public offering (IPO) with a price band of ₹1,073-1,083 and raise ₹500 crore through the public issue. The bidding process for the IPO will start on July 16 and close on July 20. The IPO lot size is 13 shares. The IPO will include ₹225 crore of fresh equity shares by the company and ₹275 crore of offer for sale (OFS) by promoters and shareholders. The company will utilise the proceeds from the IPO towards expansion of its Dahej manufacturing unit and for upgradation of research and development (R&amp;D) facility in Vadodara. It manufactures a range of products in specialty chemicals category and serves industries like automotive, petroleum, pharmaceutical, agro chemicals, paints and coatings, dyes and pigments, personal care and flavour and fragrances industries. The company receives 70% of the revenue from exports to over 25 countries including the USA, China, Germany, Japan, South Africa, and the UK, whereas the rest 30% comes from domestic markets. Its clients include SRF, Asian Paints, Laurus Laboratories, Bayer, Merck and Divis Laboratories. The speciality chemical company manufactures a diverse portfolio of structure directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC). This is the second speciality chemical company to go for an IPO in July after Clean Science and Technology. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/a-single-bitcoin-transaction-has-a-bigger-carbon-footprint-than-100000-hours-of-youtube-videos/articleshow/84373569.cms">A single Bitcoin transaction has a bigger carbon footprint than 100,000 hours of YouTube videos (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-should-you-subscribe-this-ipo-check-out-analysts-view/articleshow/84369234.cms">Zomato IPO: should you subscribe this IPO check out analysts view (businessinsider.in)</a>

Tatva Chintan Pharma Chem IPO: Bidding starts on July 16, price band at ₹1,073-1,083

<ul><li>Lal and Ram are among the few businessmen in India whose wealth rose in the middle of the coronavirus crisis to $1 billion — adding them to the list of 102 <keyword id="6393637" type="UNKNOWN" weightage="20" keywordseo="Billionaires">billionaires</keyword> in India. </li><li>79-year old <keyword id="300021" type="COMPANY" weightage="20" keywordseo="Arun-Bharat-Ram">Arun Bharat Ram</keyword> joined the billionaire club in India after his company Shri Ram Group of Companies witnessed a 63% increase in share price since March 25. According to Forbes, Ram’s net worth clocked $1.1 billion. </li><li><keyword id="248093" type="PERSON" weightage="20" keywordseo="Arvind-Lal">Arvind Lal</keyword>, who heads Dr Lal Path Labs witnessed an 8% boost in share price after it got regulatory approval to conduct the coronavirus test in the last week of March — making him a billionaire. </li></ul>Coronavirus pandemic has led to a lot of bloodbath in the stock markets around the world. Thousands of companies have reported losses while some others are struggling to just survive. However, there are some rare exceptions like Arvind Lal who heads Dr. Lal Path Labs and chemical magnate Arun Bharat Ram, who owns Shri Ram Group of Companies (SRF). ALSO READ: <div type="Article" hostid="261" msid="76284421" title="Watch an emotional Darren Sammy call out the casual racism of his IPL teammates — ‘I saw you as brothers,’ says the former West Indies captain" mstype="2" mssubtype="0"></div> Lal and Ram are among the few businessmen in India whose wealth rose in the middle of the coronavirus crisis to $1 billion. From chemicals to colleges 79-year old Arun Bharat Ram joined the billionaire club in India after his company Shri Ram Group of Companies witnessed a 63% increase in share price since March 25. According to Forbes, Ram’s net worth clocked $1.1 billion. <div type="image" title="snapshot-1591771327997" msid="76297267" hostid="261"></div> Ram is on board of more than 14 companies and heads 6 different companies worldwide including JK Paper Limited. SRF is a $1.1 billion company which was founded in 1970 and promotes chemical raw materials used in pharmaceuticals and pesticides. SRF group is into a range of other products including fabric, real estate among others. It also promotes Delhi’s Lady Shri Ram College and the Shri Ram Schools in India. One of the primary reasons for the increase in Ram’s wealth was a sudden spike in all Indian chemical stocks. A whole lot of businessmen are ditching chinese supply chain and looking for cheaper alternative options in India — leading to a sudden spike in share price. The Indian doctor who became a billionaire Arvind Lal is a doctor who heads the $174 million Dr Lal Path Labs. The share price of Dr. Lal Path Labs jumped by 14% between March 30 and June 10 after the Indian government allowed <keyword id="1349548" type="PERSON" weightage="20" keywordseo="private-labs">private labs</keyword> to conduct coronavirus tests in March. According to Forbes, Arvind Lal is now worth a billion dollars. <div type="image" title="snapshot-1591770378251" msid="76297140" hostid="261"></div> 70-year-old Lal owns a 57% stake in his publicly listed company which has a market capitalization of ₹131.98 billion. However, despite offering the coronavirus test at large, Lal’s company could end up making only small gains from it. According to Forbes, these COVID-19 tests will not “contribute in a big way” to the revenues of the company as the government has fixed the price of a test at ₹4,500. Dr. Lal Path Labs was founded in 1949 by S.K Lal, Arvind Lal’s father. Lal inherited the diagnostics lab from his family when he was 28 years old. The chain of diagnostics lab made its Initial Public Offering in 2015 and has witnessed a 79% increase in its share price since then. SEE ALSO: <a href="https://www.businessinsider.in/india/news/liquor-to-become-cheaper-in-delhi-as-the-state-withdraws-coronavirus-cess/articleshow/76294483.cms">Liquor to become cheaper in Delhi, as government withdraws coronavirus cess</a> <a href="https://www.businessinsider.in/business/news/shopping-malls-are-open-but-retailers-face-the-next-big-challenge-getting-people-to-the-stores/articleshow/76294870.cms">Shopping malls are open but retailers face the next big challenge – getting people to the stores</a>

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