After a robust growth in December, the domestic pharma market crawled back to a slower growth trend in January. Dragged by some therapy areas, the Indian pharmaceutical market (IPM) posted a 4.5 per cent growth in January as against an 8.5 per cent growth in December. Cardiac therapy registered a monthly growth of 8.8 per cent in January compared to 14.9 per cent in December, showed data from market research firm AIOCD AWACS. Anti-diabetic, on the other hand, posted a growth of 5.3 per cent in January as against a 9.9 per cent growth in December. Both the above are chronic therapy areas which have been resilient during the pandemic as people hardly avoid heart and diabetes medications.
Opioid Drugs Market 2021 Key players, Global Trend, Industry Size, Share, Price and Opportunities Forecast to 2026
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Benchmark indices hit new milestones on Wednesday as economic recovery hopes on the back of a growth-driven Budget, positive global cues, and healthy FII buying continued to please investors. Besides, expansion of Services PMI for the fourth straight month at 52.8 in January, relative to 52.3 in December, also boosted sentiment. Among the headline indices, the S&P BSE Sensex hit a fresh record high of 50,526 in the intra-day trade today, supported by buying in HDFC, HDFC Bank, Infosys, Axis Bank, IndusInd Bank, Bharti Airtel, and Reliance Industries. The BSE barometer, however, witnessed mild profit-booking at higher levels but managed to end the day at a fresh closing peak of 50,256, up 458 points or 0.92 per cent.
Recapitalisation plan in the works for India Post Payments Bank The government is exploring options to make India Post Payments Bank viable, which include infusing about Rs 2,000 crore into it and merging the institution with regional rural banks (RRBs). The payments bank, launched in January 2017, has not been doing well as a standalone entity and needs to be recapitalised, said an official in the know.
At record Rs 1.19 trn, GST collections give FM confidence ahead of Budget A day ahead of the Union Budget, which is likely to report a huge fiscal deficit, the government has got some cushion with goods and services tax (GST) collection touching a record high of Rs 1.19 trillion in January. Since the figure pertained to collection till 6 pm on January 31, some more is expected to come into the government coffers for the month. GST collection surpassed Rs 1 trillion for the fourth straight month due to economic recovery and because of government measures to tighten its noose on