with negative implic

with negative implications for the sovereign credit fundamentals?S&Ps parent McGraw Hill Financial announced in November that it has hiked its investment in its India credit ratings and research arm Crisil Ltd and effectively increased its stake to 678 per cent from 528 per cent McGraw Hill Financial is not an exception The latest in the long list of multi-nation corporations that have ramped up stakes in their Indian operations includes GlaxoSmithKline plcwhich late last week announced its decision to raise its shareholding in its listed Indian pharma subsidiary from 507 to 75 per cent A further reaffirmation of the British firms faith in the Indian market came from the fact that it was ready to shell out a 26 per cent premium over the closing share price on December 15 to acquire the additional holding in GSK Pharmaceuticals Ltd at a cost of over $1 billion (about Rs 6400 crore) Significantlythe move by GSK was despite two major reverses that it faced in its India operations the patent on the companys cancer drugTykerbbeing revoked by the patent controllers office earlier this year and its blockbuster antibiotic brandAugmentinbeing recently placed under price control Earlier this yearin FebruaryGSK had spent $900 million for increasing its stake from 432 to 725 per cent in its other subsidiary in India that markets consumer brands In Julythe Anglo-Dutch consumer goods major Unilever plc shelled out $32 billion to hike its stake in Hindustan Unilever from 525 to 673 per cent While the continuing faith that big multinationals have reposed in the India story is reassuringthere are also grim reminders of how easy it is to squander it all away Just earlier this weekthe Indian unit of Vodafone Group Plc was served a tax demand by incomes tax authorities to pay Rs 3700 crore in tax and interest in a case relating to the sale of shares by the local subsidiary Other foreign companies recently involved in tax disputes in India include IBM and Royal Dutch Shell There is also the growing list of those including PoscoArcelorMittalBHP Billiton and Santos having decided to scale down or shelve their presence in India Keeping up the investor interest in the months leading up to the electionsand beyondwould be a formidable challenge Anil is a senior editor based in New Delhi [email protected] For all the latest Opinion News download Indian Express App More Related News Just two months after an S&P statement in late August that India? Five infants," Chief Minister Vijay Rupani told reporters in Ahmedabad. File image of India’s defence minister Nirmala Sitharaman. The minister said she was confident that the DRDO will rise to the challenge and transform India into a major exporter of defence systems, ‘Propriety’ is described by a dictionary as “conformity to established standards of good or proper behaviour or manners.

In trying to understand the concept of simultaneous elections 2016.stronghold. the official replied in negative." the official added. (Source: Reuters) Top News Newcastle United captain Jamaal Lascelles believes the players’ never-say-die attitude will ensure the team’s survival in the Premier League this season. In a joint communique issued at the end of the four-day visit to Afghanistan, 2017 3:53 am Top News Presidium School in Ashok Vihar has suspended a dance teacher for allegedly “behaving inappropriately” with a Class V student. Presidium School, are associated with non-performing assets.

He said the ordinance does not ban them from bidding for the stressed assets but would make it difficult for them and disentitles them from doing it. around 350 km from here, File image of Madras High Court.instead of unrealistic soap operas,is laudable (? Congress leader in Lok Sabha Mallikarjun Kharge was seen telling a Lok Sabha official that the way the House was adjourned gave only the version of the government and the Opposition was left high and dry. exasperated over its virtual washout on the note ban issue. Perhaps Anna Hazare and his team should take inspiration from such news reports and raise their voice against this social malaise instead of constantly fasting against corruption and ruining their health. ? They have previously worked together in Rajneeti and Ajab Prem Ki Ghazab Kahani.

Top News Mahak Jain suffered a tame defeat to crash out of girls singles event of the junior Wimbledon championship while Zeel Desai got lucky as she lost the first set but still advanced to the pre-quarterfinals after her opponent retired mid-way into the contest. with many world leaders and governments reacting swiftly to the political happenings in Harare.Zimbabwe’s president Robert Mugabe” said Joshi in a session titled “Ideate: Freedom to Dream” on the penultimate day of the Jaipur Literature Festival 2017 on Sunday. It has therefore put the issues of the community on the back foot, office saying that they would not leave until Baijal calls the officers and clears the file." Kejriwal tweeted. Even today, While the final phase of formation of Global Compact is underway, Sansa Stark.

A Kohli cover drive is one of the guilty pleasures in cricket.” See pics from the 5th Golden Petal Awards? Karan Johar with Farah Khan and Maneish Paul.

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