Tuesday, October 06
Mumbai: SMFG India Credit's chief executive officer and managing director, Shantanu Mitra, has informed the board that he will be stepping down at the end of this month, according to people privy to the matter. Mitra conveyed his decision earlier this month, they said.The development comes close on the heels of Sumitomo Mitsui Financial Group (SMFG) signing a definitive agreement to acquire a 20% stake in Yes Bank for ₹13,483 crore. The deal, signed in May, is awaiting approval from the Reserve Bank of India. SMFG India Credit is a 100% subsidiary of SMFG.His term with the finance company was set to end in September this year.SMFG declined to comment.The people cited earlier said SMFG board is yet to find his replacement. In FY25, Sumitomo Mitsui Financial Group invested ₹4,300 crore e
As Indians seek ways to improve gut health, boost immunity, and enhance digestive function, probiotics are becoming a significant ingredient in their diet. Data suggest that probiotics market clocked strong double-digit growth of 22% on a Moving Annual Total (MAT) for May, as per market research firm PharmaTrac."The probiotics market has almost doubled in the last five years," said Sheetal Sapale, vice president, commercial, PharmaTrac. The probiotics market has grown from ₹1,016 crore MAT value in 2021 to ₹2,070 crore in 2025, show data.Several pharmaceutical companies including Sun Pharma, USV, Zydus, Torrent, Mankind and Dr Reddy's are leading the market, which is mostly driven by the older brands as new launches in the last two years have garnered a revenue of approximately ₹49 c
After a rough start to 2025, Tata Group stocks have staged a sharp rebound over the past three months. Sixteen group companies have posted double-digit gains—rising as much as 49%—but the comeback has been led largely by lesser-known names rather than the usual blue-chip heavyweights.Take, for instance, Automobile Corporation of Goa, which has emerged as the surprise chart-topper, rallying nearly 49% on the back of strong demand for commercial vehicles and capacity expansion. Despite the recent surge, the stock remains down 12% on a year-to-date basis, with its market capitalisation at around Rs 1,137 crore—Rs 170 crore lower than its Rs 1,307 crore valuation on December 31, 2024.Rallis India, Tata's agri-chemicals arm known for its crop protection and agricultural solutions, has sur
