Good morning!
Here are the top stories to start your day.
⭐ Lupin gets USFDA nod
The pharma company announced that it received tentative approval from the United States Food and Drug Administration (USFDA) for Dolutegravir and Rilpivirine tablets. The tablets – used for HIV treatment – had estimated annual sales of $666 million (September 2022) in the US.
⭐ Aether Industries to open new plant
The recently listed specialty chemical maker announced that its new manufacturing facility in Surat will be open for operations within the next ten days. This manufacturing site will add a capacity of 3,500 million tonnes. The total capex for the plant was ₹190 crore, of which 163 crore was raised through the IPO route.
⭐ Sula surges on record profits
Shares of India’s largest wine producer and seller rose 14% after it reported robust Q3 numbers. In the December quarter, the company’s own brand sales rose 13% year-on-year to ₹187 crore. This was led by strong growth in volumes and realisation (revenue per bottle). The wine tourism business also reported revenue growth of 13% to ₹23 crore.
Global markets (at 9:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.38% |
| Nikkei 225 (Japan) | ▲ 1.29% |
| Hang Seng (Hong Kong) | ▼ 1.01% |
| SSE Composite (China) | ▼ 0.25% |
| Dow Jones (US) (January 13) | ▼ 0.01% |
| NYSE (US) (January 13) | ▲ 0.24% |
| Nasdaq (US) (January 13) | ▲ 0.71% |
| S&P 500 (US) (January 13) | ▼ 0.08% |
Fact of the day
1% richest Indians own more than 40% of the wealth in the country