Pakistan rupee hits record low against US dollar

Torrent Pharma has joined the race to buy out the Hamied family’s stake in Cipla, said people aware of the matter, in what could be the biggest pharma deal since 2014.

CaratLane Trading, now majority owned by the Tata Group’s Titan, has challenged a show-cause notice (SCN) from the Directorate of Enforcement (ED) alleging that it had violated rules between 2011 and 2014 by receiving foreign direct investment (FDI), said people with knowledge of the matter. This predates Titan’s investment in CaratLane.

India’s economy likely expanded 7.8% in the June quarter, according to the median forecast of an ET poll of 20 economists. Resilient domestic demand, government capital expenditure and a nascent revival in private investment supported growth in the quarter amid a global slowdown.