Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="14855943" type="General" weightage="20" keywordseo="Torrent-Investments" source="Orion">Torrent Investments</keyword> has reportedly informed lenders of <keyword id="6360090" type="General" weightage="20" keywordseo="Reliance-Capital" source="Orion">Reliance Capital</keyword> that it is unwilling to participate in the auction to sell the financial services company. This is likely to hurt the process to maximise returns from the sale because only the <keyword id="120582" type="General" weightage="20" keywordseo="Hinduja-Group" source="Orion">Hinduja Group</keyword> may be left in the fray. Earlier, while opposing the extension of the auction, in a letter to RBI Deputy Governor M. Rajeshwar Rao, Torrent Investments had sought directions to Nageswara Rao Y, administrator of Reliance Capital. The letter said that the challenge process was concluded on December 21, 2022, with the administrator's email to Torrent Investments confirming its NPV bid amount of Rs 8,640 crore as the highest bid amount. However, Torrent Investments was made aware that a competing resolution applicant Hinduja Group had belatedly submitted a revised financial proposal on December 22 after completion of the challenge process on December 21 and after having learnt that Torrent Investments had emerged as the highest bidder. In repeated <keyword id="1786965" type="General" weightage="20" keywordseo="Supreme-Court-judgements" source="Orion">Supreme Court judgements</keyword>, it has been held that maximisation of value is a key factor in any plan approval by CoC. The only resolution done for a financial services company under special powers of RBI Section 227 was DHFL which was won by Piramal Group. In that case <keyword id="6367820" type="General" weightage="20" keywordseo="Adani-Group" source="Orion">Adani Group</keyword>, which was not even a resolution applicant, was admitted by CoC as it offered highest value to the Piramal bid. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/desk-bombing-monk-mode-other-emerging-trends-at-the-workplace-as-per-linkedin/slidelist/98973217.cms">Desk-bombing, monk mode &amp; other emerging trends at the workplace</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/haircut-on-cases-resolved-through-ibc-not-very-encouraging-says-kotak-report/articleshow/98972743.cms">Haircut on cases resolved through IBC not very encouraging, says Kotak report</a>

Torrent Investments not to participate in 2nd auction for Reliance Capital; Hinduja sole bidder

Markets regulator Sebi on Monday said it will auction 66 properties of <keyword id="1641057" type="General" weightage="100" keywordseo="saradha-group" source="Orion">Saradha Group</keyword> on April 11 at a reserve price totalling Rs 32 crore to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include land parcels located in West Bengal, the <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword> (Sebi) said in a notice. The regulator said that the e-auction will be conducted between 11 am and 1 pm on April 11, 2023. The total reserve price of these properties is pegged at about Rs 32 crore. Sebi has engaged <keyword id="6085536" type="General" weightage="50" keywordseo="quikr-realty" source="Orion">Quikr Realty</keyword> to assist it in the sale of the properties and appointed C1 India as the e-auction provider. The development came after the Calcutta High Court passed an order in June 2022, whereby it directed Sebi to proceed with the auction of properties of the <keyword id="1648299" type="General" weightage="50" keywordseo="saradha-group-of-companies" source="Orion">Saradha Group of Companies</keyword>. The entire exercise was directed to be completed within three months. Saradha Group, a consortium of over 239 private companies, allegedly ran chit-fund operations in West Bengal, Assam and Odisha and raised around Rs 4,000 crore from 1.7 million depositors before it collapsed in April 2013. As per the notice, the regulator said bidders should make their own independent enquiries regarding the encumbrances, litigations, attachments and acquisition of liabilities of the property put on auction, prior to submitting their bid. "The purchaser shall participate in the e-auction on his own behalf and no third party intervention, like authorized agent/representative, would be permitted. The successful bidder shall bear the charges/ fee payable for the transfer of the property in his/her name. All taxes shall be borne by the purchaser," the notice said. In September 2022, the regulator said that it will auction 69 properties of the Saradha Group of Companies on November 1 at a reserve price of Rs 30 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbi-may-hike-benchmark-lending-rates-by-25-bps-in-april-dbs/articleshow/98607945.cms">RBI may hike benchmark lending rates by 25 bps in April: DBS</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rcap-debt-resolution-torrent-investments-moves-sc-against-nclt-decision/articleshow/98607932.cms">RCap debt resolution: Torrent Investments moves SC against NCLT decision</a>

SEBI to auction 66 properties of Saradha Group to recover investors' money

<ul><li>The appellate tribunal has directed to list the petition on February 9, 2023, saying the appeal would be heard and decided by it.</li><li>Vistra ITCL (India) Ltd, one of the members of the <keyword id="16392825" type="General" weightage="50" keywordseo="committee-of-creditors-of-reliance-capital" source="Orion">Committee of Creditors of Reliance Capital</keyword>, has moved <keyword id="6396355" type="General" weightage="80" keywordseo="nclat" source="Orion">NCLAT</keyword> against an <keyword id="6355809" type="General" weightage="80" keywordseo="nclt" source="Orion">NCLT</keyword> order.</li><li>It upheld the plea by <keyword id="14855943" type="General" weightage="100" keywordseo="torrent-investments" source="Orion">Torrent Investments</keyword> challenging bankers' decision to go for the second round of auctions in pursuit of higher value for the bankrupt company. </li></ul>The <keyword id="6396354" type="General" weightage="50" keywordseo="national-company-law-appellate-tribunal" source="Orion">National Company Law Appellate Tribunal</keyword> (NCLAT) on Tuesday issued notices to Torrent Investments and other respondents on a petition filed by the lender of <keyword id="6360090" type="DOMAIN" weightage="20" keywordseo="reliance-capital" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="reliance capital" meta.entityname="Reliance Capital Ltd." meta.entityid="13189" meta.seoname="reliance-capital-ltd">Reliance Capital</keyword> seeking a second round of financial bids for the debt-ridden firm, currently going through insolvency resolution process. A two-member NCLAT bench headed by Chairperson Justice <keyword id="247734" type="General" weightage="50" keywordseo="ashok-bhushan" source="Orion">Ashok Bhushan</keyword> issued notices, directing respondents to file replies within 3 days. The appellate tribunal has directed to list the petition on February 9, 2023, saying the appeal would be heard and decided by it. Vistra ITCL (India) Ltd, one of the members of the Committee of Creditors of Reliance Capital, has moved NCLAT against an NCLT order. On February 2, the <keyword id="6358070" type="General" weightage="20" keywordseo="mumbai" source="Orion">Mumbai</keyword> bench of <keyword id="6354457" type="General" weightage="50" keywordseo="national-company-law-tribunal" source="Orion">National Company Law Tribunal</keyword> (NCLT) had ruled against holding a fresh round of auction for the takeover of <keyword id="218661" type="General" weightage="20" keywordseo="anil-ambani-promoted" source="Orion">Anil Ambani-promoted</keyword> Reliance Capital (RCap) and said the challenge mechanism for financial bids has already concluded. It upheld the plea by Torrent Investments challenging bankers' decision to go for the second round of auctions in pursuit of higher value for the bankrupt company. NCLT in its order said the bench allows Torrent Investments' application and declared that the challenge mechanism for financial bids stood concluded as on December 21, 2022, with the bid of the applicant at Rs 8,640 crore being the highest. Torrent Investments had filed a plea on January 9, requesting the tribunal to quash the lenders' plan to hold a fresh auction for the takeover of RCap. Torrent Investment was the highest bidder offering Rs 8,640 crore in the last round of the 'challenge mechanism'. Reliance Capital has a consolidated debt of about Rs 40,000 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-is-officially-confirmed-to-be-working-on-a-chatgpt-competitor-called-bard/articleshow/97681673.cms">Google is officially confirmed to be working on a ChatGPT competitor called Bard</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/drinking-water-in-israel-becomes-turbid-after-turkey-syria-quake/articleshow/97675030.cms">Drinking water in Israel becomes turbid after Turkey-Syria quake</a>

RCap resolution: NCLAT issues notices to Torrent Investments and others on the lender's plea

Mumbai, The Committee of Creditors (<keyword id="230701" type="General" weightage="80" keywordseo="coc" source="Orion">COC</keyword>) of <keyword id="6360090" type="General" weightage="80" keywordseo="reliance-capital" source="Orion">Reliance Capital</keyword> has approved the extension of 90 days (from January 31 to April 30) to complete the <keyword id="6359987" type="General" weightage="100" keywordseo="resolution" source="Orion">Resolution</keyword> process. Due to Torrent's legal challenge, the Administrator will file an application for deadline extension in the NCLT Mumbai on Monday, January 16. NCLT Mumbai will resume hearing in the Reliance Capital resolution matter on Monday. In the hearing on Thursday, January 12, senior counsel <keyword id="30182" type="General" weightage="50" keywordseo="kapil-sibal" source="Orion">Kapil Sibal</keyword> appearing for RCAP's COC informed the court that the bid submitted by Torrent is non-compliant. Sibal said that COC found a discrepancy in the Resolution Plan of Torrent. The financial proposal submitted by the company in the draft resolution proposal does not match the highest bid amount submitted by them in the challenge mechanism. Sibal said that after the Administrator wrote to Torrent on January 4, and after that Torrent changed its entire bid on January 6. Sibal said that Torrent does not even meet the threshold of the third round of the Challenge Mechanism. Therefore, it is non-compliant in the third round itself, and could not have participated in the fourth round. Torrent's bid in the second round was only Rs 7,500 crore, which should be the final bid by the company, while IIHL's (Hinduja) all-cash bid of Rs 8,110 crore in the third round is higher than Torrent's offer of Rs 7,500 crore. In addition, Hinduja's IIHL is offering additional upfront cash of Rs 900 crore, over and above its bid of Rs 8,110 crore, to the lenders, and this higher realisation can not be denied to the lenders, including <keyword id="6367143" type="General" weightage="50" keywordseo="lic" source="Orion">LIC</keyword> and EPFO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/charging-infra-improvement-can-reduce-range-anxiety-for-evs-tata-motors-md/articleshow/96961534.cms">Charging infra improvement can reduce range anxiety for EVs: Tata Motors MD</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mfs-add-hdfc-reliance-industries-kfin-tech-sula-vineyards-in-december/articleshow/96963841.cms">MFs add HDFC, Reliance Industries, KFin Tech, Sula Vineyards in December</a>

Torrent stalls Rcap resolution, COC approves 90-days extension to complete resolution

<ul class="summary-list"><li>A Delta passenger posted a video in July of rain pouring into the entrance of her flight.</li><li>Footage shows puddles forming in the plane, and she complained that her seat had been soaked.</li></ul>A Delta Airlines passenger filmed the moment her seat and bags were soaked by rain pouring through an open plane door linked to a jet bridge.TikToker fornik8e, <a href="https://www.tiktok.com/@fornik8e/video/7251722984627440942" target="_blank" rel="noopener">who posted the clip on July 4,</a> said she briefly moved to another spot on the grounded plane, which later flew from Atlanta to Minneapolis, to avoid the deluge."When I got up because my legs and shoes were soaking wet, they told me there was nowhere for me to stand, and I had to go sit in a different seat," the passenger claimed.The footage shows a puddle forming at the entrance of the plane, which the passenger said was eventually mopped up by Delta staff. However, the passenger added that she had to clean her seat and the seat next to her by herself, and that the incident was never acknowledged by staff.The passenger said she understood that bad weather was partly to blame for her experience, but was also frustrated that "no one offered an apology, or any acknowledgment that I was soaked, my stuff was soaked, and left me to figure out how to dry off my seat and the wall."She further claimed in a comment to her video that flight attendants were "laughing and standing around joking" while she was affected by the rain, and said that one staff member even "yelled" at her to return to her seat. The footage did not capture these allegations.In a statement to Insider, a Delta spokesperson said the airline has reached out to the passenger."We appreciate this being brought to our attention, as it is certainly not the experience we want our customers to have. We have been in touch with the customer to ensure she was heard and have also provided her a gesture of goodwill," the spokesperson said.The video was followed by comments from people urging the passenger to file complaints with the Department of Transportation, which she said she would do. The department requires airlines to acknowledge consumer complaints within 30 days of receiving them."Write to the FAA and demand your money back," one person said."Whoa Delta is way too expensive to let this kind of thing happen," another person wrote."Damn, Delta, what's up with that?" wrote another TikToker. fornik8e did not immediately respond to a request for comment sent outside regular working hours.

Delta is getting flak after a passenger posted a video of her seat and bag getting soaked by a torrent of rain pouring through an open plane door

<ul class="summary-list"><li>The <a href="https://www.insider.com/missing-titanic-tourist-sub-everything-we-know-so-far-2023-6">missing Titanic submersible</a> has sparked a storm of media coverage and social media reactions.</li><li>Communications professor Yotam Ophir told Insider that people have always been deeply interested in rescue missions.</li></ul>The ongoing search-and-rescue effort for <a href="https://www.insider.com/missing-titanic-tourist-sub-everything-we-know-so-far-2023-6">a submersible carrying five tourists</a> to the wreckage of the Titanic has detonated a range of conflicting emotional responses across social media this week.TikTok creators are posting live <a href="https://www.tiktok.com/t/ZT8JPxNyv/" target="_blank" rel="noopener">news updates; </a>submarine experts are <a href="https://www.tiktok.com/@mckensea/video/7246876581535206702" target="_blank" rel="noopener">offering their insights</a>; Twitter users are turning the alarming incident into punchlines and "eat the rich" commentary; and <a href="https://www.insider.com/reddit-group-titanic-lovers-overrun-submersible-discussions-2023-6">Reddit pages</a> are being overrun with fan fiction <a href="https://old.reddit.com/r/thalassophobia/comments/14e2any/wreck_of_the_titanic_imagine_youre_in_that_tiny/" target="_blank" rel="noopener">imagining every</a> macabre scenario.From <a href="https://twitter.com/Lucybri83/status/1671236177280598023" target="_blank" rel="noopener">sympathy</a> to panicked <a href="https://twitter.com/IIIDeaton/status/1671266882471460877" target="_blank" rel="noopener">fear</a> to fractious schadenfreude, one expert believes the Titanic submersible saga is the "perfect storm for virality."Dr. Yotam Ophir, an assistant professor of Communications at the University of Buffalo with expertise in media effects and persuasion, told Insider he likens these events to <a href="https://www.businessinsider.com/mh370-theories-dead-ends-unanswered-questions-ahead-of-major-new-report-2018-7">the story of Malaysia Airlines Flight MH370</a>, whose mysterious disappearance in 2014 still sparks media coverage and online conspiracy theories. "People have always been interested in — almost to the point of obsessed with — rescue missions and stories," Ophir said. "Part of it is that those are developing stories that are very emotional, that have a lot of drama."Ophir also alluded to the <a href="https://www.businessinsider.com/chilean-miners-advice-thailand-soccer-players-trapped-cave-2018-7">Chilean mining incident</a> in 2010, where 33 miners were rescued after being trapped underground."There's an element of suspense: Will they be rescued, will they not?" Ophir said. "The story is developing as we cover it."However, unlike those accidents, he noted that the submersible rescue adds an extra, complicated layer to the public discourse because the experience was exclusive to the über wealthy class. Tickets for the experience, which was fronted by the company OceanGate, were priced at $250,000 a person, and at least one of the five passengers on board <a href="https://www.insider.com/hamish-harding-billionaire-titanic-submersible-titan-space-tourist-blue-origin-2023-6">is a billionaire.</a> "It's something that only the ultra-rich can do, which I think for many is being perceived as a [show] of arrogance," Ophir said. "People feel as if rich people are using the ocean as their own playground."This has led to some scornful feelings online, including posts mocking the wealthy passengers for <a href="https://twitter.com/LolOverruled/status/1671187436888637440" target="_blank" rel="noopener">spending so much</a> on superfluous tourism — and risking their lives doing it.Other details surrounding the project — like the vessel being driven with a <a href="https://www.insider.com/titanic-tourist-sub-video-game-controller-us-navy-submarines-xbox-2023-6">video game controller</a>, older quotes resurfacing from the OceanGate CEO <a href="https://www.fastcompany.com/40406673/the-man-who-wants-to-send-us-to-the-bottom-of-the-ocean" target="_blank" rel="noopener">about</a> wanting to turn deep-ocean tourism into a profitable business, and the fact that the <a href="https://www.insider.com/people-missing-submersible-deadbolt-screws-airtight-coast-guard-2023-6">vessel is locked from the outside </a>— have also made it ripe for ridicule and harsh criticism.In fact, the reactions have been so visceral and loud that it's inspired a second wave of backlash and pointed responses to those criticisms. "I cannot believe how many people are making fun of the lost submersible, what about innocent people dying in a horrific terrifying nightmare ish way is funny???" Twitter user <a href="https://twitter.com/superducky800/status/1671375047041388544" target="_blank" rel="noopener">@superducky800 shared on Tuesday</a>. "Who cares if they're rich, their being lost and dying isn't gonna solve any financial inequality, it's just sad."<a href="https://twitter.com/LisaForteUK/status/1671046045076168704" target="_blank" rel="noopener">Many other posts</a> expressed <a href="https://twitter.com/RebeccaRHelm/status/1670900516354760713" target="_blank" rel="noopener">how terrifying</a> it would be to be trapped under the sea in total darkness.The fear and panic an event like this can stoke have also bonded communities online, who have been tirelessly playing out <a href="https://www.insider.com/what-happened-to-the-titanic-submersible-experts-explain-likely-scenarios-2023-6">every probable cause and horrifying scenario</a>.Ophir told Insider that it's natural to put yourself in the shoes of the passengers when you consume news like this."It's definitely possible that some people experience the anxiety vicariously," he said. "By reading the stories of others, you feel the claustrophobic experience yourself." A Reddit page based around fear of deep oceans with over 1.3 million members, r/thalassophobia, has had numerous popular posts this week dissecting the scary depths of the waters against the tight quarters of the submersible. <a href="https://old.reddit.com/r/thalassophobia/comments/14fbvov/obsessing_over_the_sub_case/" target="_blank" rel="noopener noreferrer">One user wrote</a> they were so absorbed in the case they couldn't get any work done, obsessively checking for updates and feeling anxious for the passengers.<a href="https://www.tiktok.com/@thedailystar/video/7246788966718901531?_r=1&amp;_t=8dMIUrGkfjn&amp;social_sharing=v4" target="_blank" rel="noopener">A TikTok with over 9 million views</a> features a creepy ambient soundtrack and a voiceover describing in vivid detail how it might feel to be trapped in the submersible."Imagine being trapped in something the size of a minivan, pitch-black, the air is thick because you and four others have been breathing the same air for hours," the voice of the account @thedailystar says. "Your fate depends on the outside world, and it is obvious they don't know where you are." According to Ophir, these alarmist and critical social media posts are par for the course. The sensational event — and the odd and spectacular details surrounding the event — are why it's inspired such an emotional, intense, and often dissonant reaction from spectators. "A lot of urban legends and folk stories are often kind of mocking the rich for their arrogance, for playing God, you know, like 'Why do they need to go down the ocean? Why do they need to get this privileged access to something the rest of us don't have?' And so on and so on," said Ophir. "Having said that, not everybody feels that. For some people, it's just a fascinating rescue attempt, which is always dramatic, and always attracts interest."

From horror to fan fiction, the Titanic submersible disappearance ignited a torrent of mixed feelings on social media and became 'a perfect storm for virality,' a media expert said

<ul class="summary-list"><li>In 2012, a French magazine published photographs of Kate Middleton sunbathing topless on holiday. </li><li>At the time, Donald Trump weighed in and tweeted that the royal only had "herself to blame."</li></ul>Donald Trump's comments about Kate Middleton's nude sunbathing photographs in 2012 hit a nerve with Prince William, Prince Harry and King Charles, a new book claims.Christopher Andersen is the author of the new royal biography "<a>The King: The Life of Charles III," due to be released in the UK on December 8. His previous titles include "</a><a href="https://www.amazon.co.uk/Brothers-Inside-Private-Worlds-William/dp/1982159723/ref=tmm_hrd_swatch_0?_encoding=UTF8&amp;qid=&amp;sr=">Brothers and Wives: Inside the Private Lives of William, Kate, Harry, and Meghan,"</a> which is one of seven books Andersen has written about the royals.<a></a>His latest work touches on the relationship Charles, 73, had with Donald Trump, 76, years before he was elected president. According to excerpts shared by <a href="https://www.newsweek.com/donald-trump-kate-middleton-remark-profanity-prince-william-harry-1756283">Newsweek</a>, bad blood between the royal and Trump hit boiling point when the former US president tweeted that Middleton could only "blame herself" for French magazine Closer publishing photographs of her sunbathing topless in 2012. <div type="image" title="Prince Charles, Prince of Wales with Prince William, Duke of Cambridge, and Catherine, Duchess of Cambridge attend Christmas Day Church service at Church of St Mary Magdalene on the Sandringham estate on December 25, 2018 in King's Lynn, England." height="1406" width="1875" msid="95321299" hostid="261" sizebytes="179204"></div>"She shouldn't be sunbathing in the nude," Trump tweeted at the time. "Who wouldn't take Kate's picture and make lots of money if she does the nude sunbathing thing. Come on Kate!"Andersen wrote: "Trump's criticism of Kate resulted in what one Clarence House butler referred to as 'torrents of profanity' from both Prince Charles and his sons." The author, who was formerly a senior editor for People magazine, also claimed it wasn't even the first time that Trump's comments sparked anger from the royals. Andersen wrote that Charles was "disappointed" after Trump incorrectly spelled his title as the "Prince of Whales" on Twitter in 2019. According to the BBC, the former US president took to the social media platform to say he meets with "foreign governments" every day. Charles was the <a href="https://www.insider.com/royal-family-member-new-titles-after-queen-elizabeth-ii-death-2022-9">Prince of Wales</a> until he became king following <a href="https://www.insider.com/queen-elizabeth-ii-death-obituary-2022-9">the death of Queen Elizabeth II</a> in September. <div type="image" title="Princess Diana and Charles in 1992." height="1331" width="1774" msid="95321301" hostid="261" sizebytes="46288"></div>Moreover, Andersen added that Trump's sexual comments towards Princess Diana months after her death in 1997 were not welcomed by the royals. During a radio interview with Howard Stern, Trump said he "could've" gotten with her if he'd wanted – but only if she'd agreed to be tested for HIV, <a href="https://people.com/politics/donald-trump-sex-princess-diana-hiv-test-howard-stern-interview/">People magazine reported</a>. Buckingham Palace, representatives for Prince Harry and Donald Trump did not immediately respond to Insider's request for comment.

Prince William and King Charles reacted with 'torrents of profanity' to Donald Trump's comments on Kate Middleton's nude sunbathing, new book claims

<ul><li>The Nifty Pharma index gained 2.82% during the early trading hour.</li><li>These were the top gainers in the Nifty Pharma pack.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Nifty Pharma index gained 2.82% during the early trading hour. Pharma stocks have been on a roll over the past few days. Nifty Pharma index was trading 382.50 points higher, while the Nifty 50 index was up 44 points at 9:30 am. These were the top gainers in the Nifty Pharma pack: Lupin gained 7%, and Cipla was up 5% The shares of Lupin Limited gained 7%, and Cipla was trading 5% higher during the trade on September 18. The jump in the shares of the pharma companies came after its Irish-peer Perrigo voluntarily recalled albuterol inhalation. This development bodes well for Lupin and Cipla. Cipla launched gProventil in April this year, and Lupin’s gProAir is expected to be launched this month. Dr Reddy’s Laboratories gains 4% Dr.Reddy’s Laboratories was the third-largest gainer in the Nifty pharma pack, trading almost 4% higher. The company has announced a settlement of litigation with a unit of Bristol Myers Squibb related to patents for Revlimid (lenalidomide) capsules, used to treat various kinds of cancer. “We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients,” Dr Reddy’s Laboratories North America Generics CEO Marc Kikuchi said. Other pharma stocks surge in trade as well Other pharma were also trading higher fueled by the rally in the pharma sector. Sun Pharma, Divi’s Laboratories, Aurobindo Pharma and Torrent Pharmaceuticals are all up over 2%. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-dr-reddys-laboratories-hdfc-bank-tvs-motor-vedanta-irctc-lt-bharat-forge-hal-and-more/articleshow/78179393.cms" data-type="tilCustomLink">Top stocks to watch— Dr Reddy's Laboratories, HDFC Bank, TVS Motor, Vedanta, IRCTC, L&amp;T, Bharat Forge, HAL, and more</a> <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms" data-type="tilCustomLink">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a>

Top pharma stock movers — Lupin, Cipla, Dr Reddy’s steal the show

<ul><li>With economic actvities resuming gradually across the country, the power consumption data may come as a breather for stocks in the power sector. </li><li>The power consumption in July 2020 was just 2.6% short of the demand exactly a year earlier.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>.</li></ul>The slump in power consumption has narrowed to just 2.64% in July at 113.48 billion units (BU) indicating spurt in economic activity and raised hopes that it would touch normal level this month. Power consumption in July last year was at 116.48 BU, as per power ministry data. The latest data of the power ministry shows that power consumption has improved after government started giving relaxations for economic activities and onset of summer. "The slump in power consumption has narrowed down considerably to 2.6 per cent. It is expected to be at normal level (what it was last year in same month) during August. There could be growth in power demand in coming days with expansion in economic activities," an industry expert told PTI. This data may come as a breather for stocks in the power sector that have been reeling under the pessimism about their prospects in the near term. <table style="width: 226pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:141pt">Stock</td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 85pt;">Last one month</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">NTPC</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.19%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Reliance Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.53%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Adani Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.67%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">8.58%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">JSW Energy </td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.65%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">CESC</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-11.65%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Torrent Power </td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.10%</td> </tr></tbody></table> The months of April, May and June this year witnessed low power consumption on account of lower commercial and industrial activities due to COVID-19-related restrictions. However, as the economy slowly reopened, peak power demand met, the highest energy supply during the day across the country, was at 170.54 GW in July, down 2.61% compared to a year ago. <table style="width: 247pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:48pt">Month</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 128pt;">Peak power demand met</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 71pt;">Growth (YoY)</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">April</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">132.77 GW</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-25%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">May </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">166.42 GW</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-8.82%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">June </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">164.94 GW</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.50%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">July</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">170.54 GW </td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.61%</td> </tr></tbody></table> The return of industrial demand will bode well for power distribution companies like Tata Power, Adani Power and Reliance Power, as well as the ones owned by state governments, because they make wider margin on supply to industries than to households. This will ease the stress on the financials and the need for additional loans from companies like Power Finance Corporation and Rural Electrification Corporation of India. <table style="width: 226pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:141pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 85pt;">Last one month</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Power Finance Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-3.75%</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Rural Electrification Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-7.35%</td> </tr></tbody></table> An earlier estimate by ratings agency <a href="https://www.livemint.com/news/india/power-demand-to-shrink-3-4-this-fiscal-as-states-return-to-lockdown-icra-11595261269964.html" data-type="tilCustomLink" target="_blank">ICRA had projected a 5% to 6% decline</a> in nationwide demand for power for the full year ending March 2021. With inputs from PTI SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/e-invoice-under-gst-these-businesses-need-not-prepare-electronic-invoices-up-to-a-revenue-of-500-crore-any-more/articleshow/77299435.cms">E-invoice under GST: These businesses need not prepare electronic invoices up to a revenue of ₹500 crore any more</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/e-invoice-under-gst-these-businesses-need-not-prepare-electronic-invoices-up-to-a-revenue-of-500-crore-any-more/articleshow/77299435.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/marutis-july-sales-data-sparks-hope-for-other-carmakers/articleshow/77298443.cms">Maruti's July sales data sparks hope for other carmakers</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/marutis-july-sales-data-sparks-hope-for-other-carmakers/articleshow/77298443.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/here-are-all-the-startups-that-raised-funding-in-july/articleshow/77297781.cms">Here are all the startups that raised funding in July</a>

Watch out for stocks like Adani Power, Tata Power, PFC and REC as electricity consumption nears pre-COVID levels

<ul class="summary-list"><li><keyword id="1649322" type="PERSON" weightage="60" keywordseo="Ted-Cruz">Ted Cruz</keyword>'s departure from <keyword id="141546" type="CITY" weightage="60" keywordseo="Cancun">Cancun</keyword> on Thursday was earlier than originally planned.</li><li>Cruz flew to Cancun on Wednesday, and initially intended on staying until Saturday.</li><li>The senator flew home while facing criticism for leaving <keyword id="15710" type="ENTERTAINMENT" weightage="60" keywordseo="texas">Texas</keyword> during a deadly winter storm.</li></ul>GOP Sen. Ted Cruz was in Cancun, Mexico, for less than 24 hours before he abruptly changed his original plan to stay in the resort city until Saturday and rushed back to Texas. After arriving back in Texas on Thursday, Cruz told reporters that the "plan had been to stay through the weekend," but he changed his itinerary after seeing the "firestorm" brewing over the trip."When I arrived and saw the initial firestorm, what had started as second thoughts that I had as soon as we left grew even greater," Cruz said.Cruz conceded that the trip was "obviously a mistake," stating that he had "second thoughts" almost as soon as he sat down on the plane. "I was trying to be a dad," <a href="https://twitter.com/Phil_Lewis_/status/1362554033815306241?s=20">Cruz said.</a>"On the one hand, all of us who are parents have a responsibility to take care of our kids, take care of our families," Cruz said. "But I also have a responsibility that I take very seriously of fighting for the state of Texas."Cruz faced <a href="https://www.businessinsider.com/cruz-returning-texas-cancun-vacation-backlash-over-leaving-amid-storm-2021-2">an onslaught of criticism</a> for leaving Texas on Wednesday as the state contends with a deadly winter storm that saw millions lose power. Early on Thursday morning, he reportedly contacted United Airlines and changed his flight from Saturday to Thursday afternoon. This development was first reported by <a href="https://twitter.com/ByERussell/status/1362447404310609921?s=20">Skift reporter Edward Russell.</a>Hours after the trip became national <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword>, Cruz issued an initial statement responding to the developing scandal. The Texas Republican said that he went to Cancun at the behest of his daughters, and that he was trying to be a "good dad.""This has been an infuriating week for Texas," <a href="https://twitter.com/VaughnHillyard/status/1362464519042326528">Cruz said</a>. "With school cancelled for the week, our girls asked to take a trip with friends. Wanting to be a good dad, I flew down with them last night and am flying back this afternoon."As he headed back to Texas on Thursday, Cruz at the Cancun airport told reporters that his daughters asked him on Wednesday if they could take a trip with friends to Cancun. Cruz said that he and his wife agreed, and he decided to accompany them."I flew down with them last night, dropped them off here, and now I'm headed back to Texas," Cruz said, adding that "what's happening in Texas is unacceptable."The Texas senator's initial justification for the trip was been met with widespread <a href="https://twitter.com/AymanM/status/1362512078804811787?s=20">skepticism</a> and <a href="https://twitter.com/BeschlossDC/status/1362515896053432322?s=20">mockery</a>, and critics accused him of <a href="https://twitter.com/atrupar/status/1362469125214371851?s=20">throwing his daughters under the bus</a> for the bad optics of taking a vacation with his state in crisis. "Ted Cruz let Trump call his wife ugly and say his dad killed JFK, with no repercussions. Now he blames daughters for his abandonment of Texans during a deadly crisis," <a href="https://twitter.com/Scaramucci/status/1362472667316703237?s=20">tweeted</a> Anthony Scaramucci, who was briefly White House communications director in the Trump administration. "Ted, you have no dignity, you are a disgrace and you will never be President, let alone Senator for much longer."

You Searched For "torrent" and got 10 results

Torrent Investments not to participate in 2nd auction for Reliance Capital; Hinduja sole bidder

IANS

SEBI to auction 66 properties of Saradha Group to recover investors' money

PTI

RCap resolution: NCLAT issues notices to Torrent Investments and others on the lender's plea

PTI

Torrent stalls Rcap resolution, COC approves 90-days extension to complete resolution

IANS

Delta is getting flak after a passenger posted a video of her seat and bag getting soaked by a torrent of rain pouring through an open plane door

Matthew Loh

From horror to fan fiction, the Titanic submersible disappearance ignited a torrent of mixed feelings on social media and became 'a perfect storm for virality,' a media expert said

Kieran Press-Reynolds

Prince William and King Charles reacted with 'torrents of profanity' to Donald Trump's comments on Kate Middleton's nude sunbathing, new book claims

Maria Noyen

Top pharma stock movers — Lupin, Cipla, Dr Reddy’s steal the show

Navdeep Yadav

Watch out for stocks like Adani Power, Tata Power, PFC and REC as electricity consumption nears pre-COVID levels

BI India Bureau

Ted Cruz originally planned to spend multiple nights in Cancun but flew back early to Texas amid a torrent of criticism

John Haltiwanger

Popular Keywords

Buying Guides