Sundaram Asset Management Company Ltd, the 100 per cent subsidiary of Sundaram Finance Ltd on Friday said it received the regulatory approval for the purchase of asset management businesses of Principal Asset Management Pvt Ltd.

Sundaram Asset Management Company would acquire the schemes managed by Principal India and acquire 100 per cent of the share capital of Principal Asset Management Pvt Ltd, a company statement said here.

Calling the Centre's decision to repeal the farm laws as a "great victory for the farmers and the Congress", senior party leader P Chidambaram on Friday took a dig at the government, saying that the move was not inspired by a change of heart but impelled by "fear of elections".

His remarks came after Prime Minister Narendra Modi, in an address to the nation this morning, announced that the government has decided to repeal the three farm laws, which were at the centre of protests by farmers for the past year.

Standard and Poor’s (S&P) has upgraded long-term issuer rating on Glenmark Pharmaceuticals from “BB-” to “BB” on the expectation of conservative debt levels given limited upcoming capital investments and healthy free operating cash flow.

Its debt is likely to decline by about 25 per cent in FY22 (year ending March 31, 2022) given management's commitment to maintaining lower leverage following a recent equity raising at its subsidiary. This is expected to boost the company's ratio of funds from operations (FFO) to debt is expected at 35-40 per cent in FY22.

From real-time monitoring of over 220,000 vehicles on ground that helps customers in predicting problems along with quick support in case of breakdowns to AI-based customer solutions, Chennai-based Ashok Leyland is on the fast track to embrace new-age digital solutions. The company is now carving out a new and future revenue stream through data monetisation.

The commercial vehicle major's Chief Digital Officer Venkatesh Natrajan said the company is not just looking at indirect monetisation of data through platforms like Uptime Solution Center (real-time monitoring) that helps the servicing community.

Equity benchmarks buckled under selling pressure for the third session on the trot on Thursday as bearish global cues and a disappointing market debut for Paytm unnerved investors.

The 30-share BSE Sensex tumbled 372.32 points or 0.62 per cent to finish at 59,636.01. Similarly, the NSE Nifty dived 133.85 points or 0.75 per cent to 17,764.80.

The price of ten gram of 24-carat gold on Friday decreased by Rs 370 to Rs 49,100 from Thursday's trading price. The price of silver decreased by Rs 100 per kg to Rs 66,300, according to goodreturns.in.

In Delhi, the rate of 24-carat gold stands at Rs 52,420 and in Mumbai it is Rs 49,100. The prices of ten gram of 22-carat gold in Delhi and Mumbai are Rs 48,050 and Rs 48,100.

Even though Vijay Shekhar Sharma-owned Paytm is India’s biggest digital payments platform, the feat wasn’t enough to please Street investors. Shares of One97 Communications, parent firm of Paytm, listed at a nine per cent discount on the bourses on Thursday, debuting at Rs 1,955 per share. Soon after, the shares crashed 27 per cent against the issue price of Rs 2,150 and hit an intra-day low of Rs 1,564 apiece. It must be remembered that the company’s Rs 18,300-crore offering, the biggest-ever in the domestic capital markets, had managed to sail through only on the last day of the offer.

Delhi-NCR's air quality is likely to improve on Saturday and Sunday owing to relatively strong winds and will settle down at the lower end of the 'very poor' and 'poor' categories, authorities said on Friday.

In a statement, the air quality early warning system for Delhi of the Ministry of Earth Sciences said: "The air quality over Delhi-NCT is likely to remain in 'very poor' category today (Friday), but is likely to improve and reach in the lower end of 'Very Poor' category on Saturday.

Responding to as many as 17 petitions related to interfaith marriages, the Allahabad High Court has asked the Central government to consider setting up a panel for implementing the mandate of Article 44, which says that the state shall endeavour to secure for the citizens a Uniform Civil Code (UCC) throughout the territory of India.

The court directed marriage registrar or officer of petitioners' districts to immediately register the marriage of the petitioners without insisting or awaiting approval of the competent district authority with regard to conversion of faith.

Leader of Opposition in Bihar Assembly and RJD leader Tejashwi Yadav has hit out at Chief Minister Nitish Kumar on the alleged incident of two police officers physically assaulting the Additional District Judge in Madhubani, and accused him of beating up the judges in the court.

"After the Chief Minister Nitish Kumar beat up the honourable MLAs and journalists from the Bihar Police i.e. JDU Police inside the Vidhan Sabha House, the police are now beating up the judges in the judges' chamber in the court. What more Mangalraj do you want from a well-governed NDA government?" Yadav tweeted on Thursday.

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