Day: August 7, 2026

Merck EVP David Maraldo sells $2.4 million of common stock

Non-banking finance company credit grew 14.4 percent year-on-year in June. Retail loans saw the fastest expansion, increasing by 20.3 percent. Housing and vehicle loans, and gold jewellery loans showed robust growth. Credit to industry expanded by 6.7 percent, while services sector credit grew 17.6 percent. Agriculture and allied activities credit increased significantly by 17.9 percent.

FSSAI has secured an order against AWL Agri Business for substandard fortified sunflower oil. Laboratory tests found the product failed to meet prescribed vitamin fortification standards. A penalty was imposed after tests revealed vitamin levels were below prescribed standards. This rendered the product substandard under the Food Safety and Standards Act. FSSAI did not disclose…

The Pension Fund Regulatory and Development Authority has approved four new pension funds. This expansion aims to increase non-government NPS subscribers significantly over five years. Digital initiatives are expected to attract millions of new subscribers annually. PFRDA emphasises accessibility and simplified onboarding for broader pension coverage. Conservative schemes have delivered strong annual returns, building on…

A competitive tariff of ₹5.25 per unit was discovered for round-the-clock renewable energy. This price emerged from a tender by the Solar Energy Corporation of India. The discovered tariff aims to compare with firm power sources like thermal and nuclear. Renewable energy must be supplied reliably on a round-the-clock basis. This development highlights the growing…

The sector’s rising cash burn, coupled with the relatively limited size of the addressable market, is beginning to concern investors tracking the space. The category is economically viable primarily in urban catchments, where high order density supports efficient fulfilment and worker utilisation. Expanding into lower-density neighbourhoods is significantly more challenging, another industry executive said.

Diageo is taking a bold step by designating India as a distinct operational region, separating it from the Asia-Pacific hub. This strategic choice is driven by the projected growth in India’s spirits market. In tandem, the company is revamping its packaging network for Indian spirits, which is set to yield significant and recurring cost savings.

While issuing notice to the government and Fssai, Justice Amit Mahajan said Dabur has made out a prima facie case for grant of stay of Monday’s ban order, as such sudden restrictions could not have been imposed without issuing a show-cause notice or hearing the company.

The government is exploring a new incentive scheme for polysilicon manufacturing. This initiative aims to bolster domestic production capabilities within the sector. Currently, a production-linked incentive scheme supports solar module manufacturing. That program covers modules, cells, ingot-wafers, and polysilicon production. This new exploration follows earlier discussions on supporting polysilicon manufacturing.

Proximo is among the last major global spirits companies to establish a direct India operation. Most of its international rivals are already present in India, which ranks among the largest markets by volume for Diageo and Pernod Ricard, among others.