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<ul><li><keyword id="1603355" type="General" weightage="20" keywordseo="murali-divi" source="Orion">Murali Divi</keyword> is the founder of <keyword id="1515398" type="General" weightage="100" keywordseo="divi" source="Orion">Divi</keyword>’s Labs, one of the top three manufacturers of active pharmaceutical ingredients (API).</li><li>Divi went to the US with $7 in his hands and came back with $40,000, while earning $65,000 a year working as a pharmacist.</li><li>In the last one year, Divi’s wealth has surged by more than two times to over $10 billion.</li><li>Find out what the future holds for Murali Divi and his company, Divi’s Labs.</li></ul>From the small town of Machilipatnam in Andhra Pradesh to founding a company with a market capitalisation of nearly ₹1.3 lakh crore (over $17 billion), Murali Divi has come a long way to find himself on the Hurun India Rich List 2021. According to the latest update to the Hurun list, Murali Divi with a wealth of ₹79,000 crore is the 14th richest person in India, leaving behind the old money magnates like the Wadias, Mistrys, Godrejs and Agarwals. What makes it even better is the fact that Divi’s father managed the family of 14 on a meagre pension of ₹10,000 per month. Indeed, nothing quite describes the emergence of small-town India as one of the drivers of the country’s growth as the stories of people like Murali Divi or <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham</a>, whose father was a bank officer. <div type="image" title="Divi&amp;#39;s" msid="86750084" hostid="261" caption="&amp;lt;p&amp;gt;Divi&amp;#39;s Labs was founded in 1990 and it went public in 2003&amp;lt;/p&amp;gt;"></div> Today, Divi’s Labs commands a market capitalisation of ₹1.28 lakh crore – almost three times of what it was on March 23, 2020, when India went into a nationwide lockdown due to the COVID-19 pandemic. On October 4, the stock added another 10% to its value after it was chosen as the authorised manufacturer for Merck and Ridgeback’s oral antiviral Molnupiravir, which is under trial, and the results so far show that it can reduce the need for hospitalisation for patients with <a href="https://www.merck.com/news/merck-and-ridgebacks-investigational-oral-antiviral-molnupiravir-reduced-the-risk-of-hospitalization-or-death-by-approximately-50-percent-compared-to-placebo-for-patients-with-mild-or-moderat/">a mild or moderate case of COVID-19</a>. <div type="image" title="Divi&amp;#39;s Labs 23_03_20 to 04_10_21." msid="86749896" hostid="261" caption="&amp;lt;p&amp;gt;Divi&amp;#39;s Labs share price since the Covid-19 pandemic broke out in India&amp;lt;/p&amp;gt;"></div> What sent the share price of Divi’s Labs in another orbit compared to other companies is its effective utilisation of capital and expanding supply of APIs to US pharma companies in 2020, even as the world struggled to cope up with China shutting off the supply chain for the pharma sector. Since the pandemic, Murali Divi has seen his wealth more than double, from a little under $4 billion at the beginning of 2020 to over $10 billion now. But what does the future hold for this billionaire scientist’s company, Divi’s Labs? Here’s a quick look at the risks for the company and what its strengths are: <cmsannotation type="cmsannotation" annotationid="Pressure on drug prices in US" comment="subhead" text="Pressure on drug prices in US">Pressure on drug prices in US</cmsannotation> <div type="image" title="Divi&amp;#39;s research" msid="86750068" hostid="261" caption="&amp;lt;p&amp;gt;Divi&amp;#39;s Labs&amp;#39; research centre&amp;lt;/p&amp;gt;"></div> The US government has been forcing prices of medicines down for a few years now by approving more generic versions. This is likely to continue and may even get worse, according to analysts at Ambit Capital. But that is not a problem unique to Divi’s. Other companies like Sun Pharma, Lupin, Dr Reddy’s etc. have also been facing similar pricing pressure. <cmsannotation type="cmsannotation" annotationid="Resumption of physical inspections of plants" comment="subhead" text="Resumption of physical inspections of plants">Resumption of physical inspections of plants</cmsannotation> The US Federal Drug Administration (FDA) had eased its watch on the quality of drugs exported from India in the wake of the pandemic. However, the hawks at the USFDA may return to their old ways of surprise inspections at manufacturing plants and that’s a risk for all companies. The increased compliance burden could prove to be a double-edged sword for pharma companies, including Divi’s Labs, according to Ambit Capital. <cmsannotation type="cmsannotation" annotationid="Proactive capacity scale-up and technology upgrades" comment="subhead" text="Proactive capacity scale-up and technology upgrades">Proactive capacity scale-up and technology upgrades</cmsannotation> <div type="image" title="Divi&amp;#39;s lab" msid="86750058" hostid="261" caption="&amp;lt;p&amp;gt;Divi&amp;#39;s Labs&amp;#39; research and development centre&amp;lt;/p&amp;gt;"></div> One of the secrets of Divi’s rise to be the second biggest drug maker in the country, by market capitalisation, is its ability to scale up capacity and cut costs using technology. “It is still supplying legacy products, showing both its strength and continuing demand in these products. Its next leg of growth is expected to come from 16 new molecules it is currently working on,” said Motilal Oswal in its September report, which said that the shares of Divi’s Labs could go up to ₹5,750, another 10%, in the next one year. <cmsannotation type="cmsannotation" annotationid="Strong partnerships with innovators" comment="subhead" text="Strong partnerships with innovators">Strong partnerships with innovators</cmsannotation> The report further adds that Divi’s Labs has a strong relationship with big pharma companies, including six out of the top ten innovators including Merck, Pfizer, and GlaxoSmithKline. “Divi can supply both clinical quantities and at large commercial scale, thus supporting innovators from API research to commercial manufacturing,” says the report. <cmsannotation type="cmsannotation" annotationid="The scientist behind the billionaire" comment="subhead" text="The scientist behind the billionaire">The scientist behind the billionaire</cmsannotation> To make things worse, Divi failed his intermediate exams (the equivalent of higher secondary) twice due to weak English. However, instead of giving up and resigning himself to his failures, Divi doubled down and grabbed the opportunity to go to the US as a pharmacist instead of becoming a chemist like his elder brothers. <div type="image" title="Murali Divi" msid="86750146" hostid="261" caption="&amp;lt;p&amp;gt;Murali Divi&amp;lt;/p&amp;gt;"></div> When Divi left India for the states in 1976, he was 25 years old with $7 in his hands, according to <a href="https://www.forbesindia.com/article/india-rich-list-2014/murali-divi-the-accidental-chemist/38771/1">Forbes India</a>. From there, he went on to draw a salary of $65,000 a year at US companies like Trinity Chemical and Fike Chemical. He would soon come back to India with his wife and children with $40,000 and no plans for the future. He went with the flow and in 1984, teamed up with Kallam Anji Reddy to build Cheminor, which would later (in 2000) be merged with Dr. Reddy’s Laboratories, also co-founded by Reddy. Six years later, Divi founded Divi’s Laboratories, his own pharma company. Headquartered in Hyderabad, the company makes active pharmaceutical ingredients (API) and intermediates. APIs are the key inputs that go into making a drug. From nowhere in 1990, Divi’s Labs is now one of the top three API manufacturers in the world. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a> <a href="https://www.businessinsider.in/india/news/anil-ambani-sachin-tendulkar-kiran-shaw-and-other-indians-named-in-the-pandora-papers-leak/articleshow/86745435.cms">Anil Ambani, Sachin Tendulkar, Kiran Shaw and other Indians named in the Pandora Papers leak</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-has-raised-1-3-billion-this-year-to-so-far-in-pursuit-of-its-american-dream/articleshow/86745427.cms">Byju’s has raised $1.3 billion this year to so far in pursuit of its American dream</a>

Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting, since the pandemic

<ul><li>The Sanjiv Goenka-led RPSG group has bagged the Lucknow franchise of the IPL.</li><li>Goenka is happy about the purchase and confident that the investment will be profitable.</li><li>Here’s everything you need to know about the Kolkata-based business tycoon.</li></ul>The Sanjiv Goenka-led RP-Sanjiv Goenka Group (RPSG) has bagged the new Lucknow franchise in the cash-rich Indian Premier League (IPL) for a whopping ₹7,090 crore – close to a billion dollars – marking a return for the company to the world's biggest T20 league. The RPSG group was founded by <keyword id="6355523" type="General" weightage="20" keywordseo="sanjiv-goenka" source="Orion">Sanjiv Goenka</keyword> in 2011, after RPG Enterprises, founded by his father Rama Prasad Goenka, was divided between Sanjiv and Harsh Goenka. The RPSG group is a Kolkata-based conglomerate and its major businesses include CESC, a power generation and distribution company, the 120-year-old music company Saregama and the recently launched snacks brand Too Yumm! The company also operates Spencer’s retail chain, Nature’s Basket, Woodlands Hospital, Harrisons Malayalam and several other companies, making it a total of 22 companies. According to <a href="https://www.forbes.com/profile/sanjiv-goenka/?sh=541d14966301">Forbes</a>, Sanjiv Goenka has a net worth of $2.7B (approx. ₹20,250 crore). The RPSG group reported a revenue of ₹26,634 crore as on March 31, 2021 and has assets worth over ₹47,000 crore. <cmsannotation type="cmsannotation" annotationid="Goenka’s love for sports" comment="subhead" text="Goenka’s love for sports">Goenka’s love for sports</cmsannotation> For Sanjiv Goenka, winning the bid for Lucknow may not be just an investment. Goenka’s love for sports is evident from his other ventures as well. <div type="image" title="E5E3B7AD-FE67-4B15-87BE-3FE36E975B49" msid="87277605" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka with Robbie Keane.&amp;lt;/p&amp;gt;"></div> Sanjiv Goenka holds a stake in the ATK Mohun Bagan football club, which is a part of the Indian Super League (ISL). Sourav Ganguly, the president of the Board of Control for Cricket in India (BCCI) is also a co-owner of the ATK Mohun Bagan. The group is also involved in table tennis and owns the RPSG Mavericks Kolkata, which is part of India’s biggest table tennis league, the Ultimate Table Tennis League. <cmsannotation type="cmsannotation" annotationid="Sanjiv Goenka’s second stint in IPL" comment="subhead" text="Sanjiv Goenka’s second stint in IPL">Sanjiv Goenka’s second stint in IPL</cmsannotation> <div type="image" title="4A1F6760-2CCE-41A2-A1E1-4D8BDC7B4640" msid="87277431" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka in Rising Pune Super Giants jersey.&amp;lt;/p&amp;gt;"></div> Sanjiv Goenka’s RPSG is no stranger to the Indian Premier League – it had a two-year stint in the IPL after it bagged the Rising Pune Supergiant franchise for IPL 2016 and 2017, after Chennai Super Kings and Rajasthan Royals were suspended from the tournament for two years. Since 2017, Goenka has been eyeing a return to the IPL. In 2016, the team had an average outing, ending up seventh on the table with just five wins. After this, Goenka took the bold decision of dropping Mahendra Singh Dhoni from captaincy and handed over the reins to Steve Smith. This decision turned out well for the team and the team went on to the finals, losing the title to Mukesh Ambani’s Mumbai Indians by the barest of margins – just 1 run. Goenka has returned to IPL with the acquisition of IPL’s latest franchise, Lucknow. The RPSG group had bid for Lucknow, Ahmedabad and Indore. <cmsannotation type="cmsannotation" annotationid="We’ve done our math, says Goenka" comment="subhead" text="We’ve done our math, says Goenka">We’ve done our math, says Goenka</cmsannotation> Soon after the BCCI announced that the RPSG group had won the bid for the Lucknow franchise, Goenka spoke to Cricbuzz. Here are some of the key takeaways from the <a href="https://www.cricbuzz.com/cricket-news/119559/weve-done-our-math-sanjeev-goenka-after-7090-cr-bid-cricbuzzcom">interview</a>. Speaking about why the group selected Lucknow despite winning the bid for both Ahmedabad and Lucknow, Goenka said, “We have operations in Uttar Pradesh. We do power distribution there. We have a very big presence in the northern state. Closer by in Chandigarh, we have the power distribution rights. So for North India, that becomes like a hinterland.” Goenka also revealed the math behind the decision to bid over ₹7,000 crore for the team. “I will probably be paying only ₹3,500 crore in 10 years. It is because I will be getting ₹3,500 crore from the BCCI from the broadcast rights. In the next five years, I may get more [from the BCCI]. The net present value of that is ₹2,100 crore. That means I have got an IPL team for ₹2,100 crore. Tell me, is it good or not?”. In an <a href="https://www.moneycontrol.com/news/business/expect-lucknow-ipl-team-to-command-rs-10000-crore-valuation-in-5-years-rpsg-groups-sanjiv-goenka-7625691.html">interview</a> to Moneycontrol, Goenka revealed that he expects the franchise to be worth over ₹10,000 crore in five years. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a> <a href="https://www.businessinsider.in/thelife/personalities/news/murali-divi-the-billionaire-scientist-behind-divis-labs-is-richer-by-6-billion-and-counting-since-the-pandemic/articleshow/86749881.cms">Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting, since the pandemic</a> <a href="https://www.businessinsider.in/business/startups/news/iron-man-vijay-shekhar-sharma-put-his-own-money-on-the-line-to-launch-paytm/articleshow/84468805.cms">‘Iron Man’ Vijay Shekhar Sharma put his own money on the line to launch Paytm — and ten years later the company is ready to go public</a>

Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage

<ul><li>The 30-share BSE index Sensex was up 434 points, and the NSE Nifty was trading 0.94% higher at 9:52 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>Indian stock market indices opened higher on Monday, as hopes of a US fiscal package and expectations of a COVID-19 vaccine by the end of this year kept investors optimistic globally. The 30-share BSE index Sensex was up 434 points, and the NSE Nifty was trading 0.94% higher at 9:52 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;">ONGC </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;">Divis Lab </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;">Axis Bank </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;">UPL </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;">HDFC </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;">TCS </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;">NTPC </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;">Grasim </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;">ICICI Bank </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;">Cipla </td></tr></tbody></table>*as of October 19, 09:50 am These are the top stocks in news today. Dewan Housing Finance Corporation (DHFL) leaps 10% The shares of DHFL were<a href="https://www.businessinsider.in/business/corporates/news/adani-group-piramal-among-4-bidders-for-dhfl-lenders-stare-at-over-60000-crore-write-off/articleshow/78740854.cms"> trading 10% after news reports surfaced</a> that Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-headquartered SC Lowy are the four entities that have placed bids for the first financial services player DHFL, which is undergoing an insolvency process. Jet Airways locked in 5% upper circuit The shares of cash strapped Jet Airways were locked in a 5% upper circuit in minutes after market opening as the company secured new owners. The airline-approved the resolution plan submitted by London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan to acquire the business. Tata Communications locked in 5% upper circuit The shares of Tata Communications were locked in 5% upper circuit after it reported around seven-fold jump in its consolidated net profit to ₹384.81 crore for the second quarter ended September 30. Its consolidated revenue grew 4.5% to ₹4,477.18 crore during the quarter. Avenue Supermarts gains over 3% Radhakishan Damani-led, D-Mart retail chain operator, Avenue Supermarts gained over 3% on Monday. The rally came after the saw its profit grow five-fold compared to the sequential quarter amid easing of lockdown restrictions. However, the profit growth was 38.5% down compared to the same period last year. HDFC Bank opens 2% higher The shares of India’s largest private sector lender, HDFC Bank opened 2% higher on Monday. The bank reported <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-increases-provisions-for-bad-loans-as-impact-of-covid-19-continued-to-bear-down-in-second-quarter/articleshow/78719656.cms">an 18.4% year-on-year (y-o-y) </a>growth in profit at ₹7,513.11 crore for the quarter ended September 30. DLF up over 2% The shares of commercial real estate developer, DLF gained over 2% after its rental arm DCCDL has raised ₹2,400 crore debt from India’s largest lender SBI to refinance its existing debt and fund future expansion plans. SEE ALSO: <a href="https://www.businessinsider.in/international/news/20-charts-explain-why-indian-americans-are-more-likely-to-vote-for-joe-biden-in-2020-us-presidential-election/slidelist/78717893.cms" data-type="tilCustomLink">20 charts that explain why Indian Americans are more likely to vote for Joe Biden in the 2020 US Presidential Election</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-avenue-supermarts-jet-airways-ril-airtel-vodafone-idea-tata-communications-hdfc-bank-and-others/articleshow/78740639.cms" data-type="tilCustomLink">Top stocks to watch — Avenue Supermarts, Jet Airways, RIL, Airtel, Vodafone-Idea, Tata Communications, HDFC Bank and others</a> <a href="https://www.businessinsider.in/politics/world/news/pelosis-office-says-the-latest-coronavirus-stimulus-talk-with-mnuchin-had-encouraging-news-on-testing/articleshow/78734327.cms">Pelosi's office says the latest coronavirus stimulus talk with Mnuchin had 'encouraging news on testing'</a> <a href="https://www.businessinsider.in/defense/news/india-china-militaries-to-hold-eighth-round-of-talks-over-border-dispute/articleshow/78735795.cms" data-type="tilCustomLink">India, China militaries to hold eighth round of talks over border dispute</a>

Top stock movers — DHFL, Jet Airways, Avenue Supermarts, HDFC Bank, DLF, Tata Communications and others

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Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting, since the pandemic

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Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage

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Top stock movers — DHFL, Jet Airways, Avenue Supermarts, HDFC Bank, DLF, Tata Communications and others

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