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06:52 pm : Flashes: Coal & Power Ministe: Expect Committee On UMPP To Submit Final Report By FY-end
06:51 pm : Flashes: Coal & Power Ministe: Will Make Sure Planned 5 UMPPs Get Timely Approvals
06:51 pm : Flashes: Coal & Power Ministe: All New UMPPs Will Get Handholding From The Govt
06:50 pm : Flashes: Coal & Power Ministe: Have Plans For UMPPs In Bihar & Jharkhand
06:50 pm : Flashes: Coal & Power Ministe: Will See Gradual Phase-out Of Exemptions
06:46 pm : Flashes: PM Said Any Positive Suggestion On Land Acqn Will Be Acted Upon
06:46 pm : Flashes: MoS Finance: Road Projects Can Be Jump-started Immediately With EPC
06:45 pm : Flashes: MoS Finance: Looking At Differential Voting Rights For PSU Bank Boards
06:45 pm : Flashes: MoS Finance: Looking At Innovative Instruments For Reinvigorating PSU Bank Boards
06:44 pm : Flashes: MoS Finance: Bank Bureau Will Be An Autonomous Body & Select Bank Chiefs
06:43 pm : Flashes: MoS Finance: Trying To Pass Constitutional Amendment To GST In This Session
06:43 pm : Flashes: MoS Finance: Can See Movement In Many Stalled Projects
06:42 pm : Flashes: MoS Finance:Govt Infra Investments Will Improve Rail Network
06:41 pm : Flashes: MoS Finance:Will Start Allocating Gross Budgetary Support Of Rs 70,000 Cr Immediately
06:40 pm : Flashes: Rs 70,000 Cr Divestment Target For FY16 Is Ambitious: :Divestment Secy
02:27 pm : Interpretations: 10% TDS introduced for PF withdrawal before 5 years
02:14 pm : Interpretations: Buyback tax up from 22.66% to 23.07% for unlisted companies
02:11 pm : Interpretations: Specific mutual fund service tax exemption withdrawn

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john_H | 17 min 41 sec

Hyderabad: Dr. Reddy’s Laboratories Ltd’s new venture capital arm is considering 20 business proposals, including a chain of dental clinics and health-diagnostic laboratories and is likely to back one or two as part of a plan to transform India’s second-largest drug maker into a broader health-focused company. “We haven’t invested anywhere, we are setting up the processes now,” said G.V. Prasad, co-chairman and chief executive of officer of Dr. Reddy’s, without giving details of the corpus allocated for the fund or the name of the start-ups that the company is evaluating. “I don’t think money is a concern for us.” Hyderabad-based Dr. Reddy’s is evaluating investments in new technologies that offer medical diagnostics and services to help patients, and also complement the firm’s larger strategy of transforming itself into a broader health-focused entity. Smaller rival Cipla Ltd was the first Indian drug maker to set up a fund in 2013 to incubate start-ups. “We won’t go wild and invest everywhere, we will be strategic investors. This is not to make money out of our investment, this is to build businesses or to learn things,” Prasad said. “If it is directly in our business, we won’t invest. If it is an unrelated area we look at it. Suppose it’s a new way of treatment, or new way of diagnostic, or a new way to help patients in their journey of illness to wellness, we will invest,” Prasad said. Prasad said that company’s venture group will also incubate start-ups in-house until they become sizable entities, in addition to encouraging the company’s own people to come up with ideas. “If somebody has a brilliant idea, we may back it with investment and incubate it,” Prasad said. Big pharmaceutical companies including Pfizer Inc., AstraZeneca Plc., GlaxoSmithKline Plc. and Novartis AG have been investing in start-ups for years through their venture capital funds. “It’s not very surprising for company like Dr.Reddy’s to come up with a venture fund,” said P.R. Ganapathy, president (India) at social enterprise incubator Villgro Innovations Foundation. The company understands the healthcare space, he explained, and the gaps in it, apart from having the money power and expertise to back start-ups. Healthcare and lifescience start-ups raised $136 million of venture capital in 2014, second only to information technology and information technology-enabled services, which includes Internet companies such as Flipkart and Snapdeal, according to data compiled by Chennai-based researcher Venture Intelligence. “More and more companies are seeing healthcare as a safe bet to invest—there is a huge demand and it is recession proof,” said Rana Mehta, leader, healthcare, at consulting firm PwC India....... Cheers!

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Post

Best Of Budget 2015

budget impact

sector impact

Leather Products

14:33 pm

Govt reduces excise duty on leather footwear to 6%

Bata India 1035.35 6.20
Relaxo Footwear 496.90 -13.15
Mirza Intl 98.85 -9.35
Bhartiya Inter 476.85 -11.15

more

Cigarettes

14:31 pm

Excise duty on cigarettes increased by 25% for sub-65 mm cigarettes

ITC 319.55 -0.45
Godfrey Phillip 570.05 -6.45
VST 1475.95 6.80
Kothari Product 213.00 -3.35

more

Transport & Logistics

14:01 pm

Service tax hike of 2.4% for non-economy class air travel

Container Corp 1357.30 -39.00
Allcargo 289.95 -7.05
VRL Logistics 388.05 -16.30
Jet Airways 312.20 -13.65

more

Computers - Software

13:57 pm

Fee for technical services rate reduced from 25% to 10%

TCS 2574.45 -31.15
Infosys 1073.95 -25.40
Wipro 554.10 -13.05
HCL Tech 940.30 -20.70

more

Telecommunications - Service

13:56 pm

Govt reduces royalty rates

Bharti Airtel 350.00 3.25
Idea Cellular 149.10 -0.30
Reliance Comm 58.55 -1.10
Tata Comm 472.00 -8.70

more

Media & Entertainment

13:54 pm

Entertainment sector removed from service tax negative list

Zee Entertain 360.40 -7.55
Sun TV Network 361.50 -11.10
Dish TV India 102.05 -3.80
DB Corp 308.15 -1.90

more

Auto - LCVs & HCVs

13:47 pm

Import duty on vehicles with capacity more than 10 seats increased to 40% from 10%

Tata Motors 321.10 -12.45
Eicher Motors 19580.40 -533.45
Ashok Leyland 85.00 -2.65
Force Motors 207.55 -10.90

more

Steel - Large

13:46 pm

Customs duty on bituminous coal reduced to 10% from 55%

JSW Steel 903.45 -26.55
Tata Steel 218.90 -10.85
SAIL 47.20 -1.60
Essar Steel 51.80 -5.30

more

Consumer Goods - Electronic

13:44 pm

Customs duty on LED, LCD panels made nil

Videocon Ind 141.75 0.15
Videocon Intl 84.25 -1.25
Mirc Electronic 13.15 -0.25
PG Electroplast 119.65 6.10

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BUDGET 2015 REACTION

reaction on: Corporate Tax | Fiscal Deficit | GST

Nandan Chakraborty

MD - Institutional Equity Research | Axis Capital