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India Inc settles for smaller M&A deals
ICICI Bank’s Global Head (Investment Banking) Kalpesh Kikani says the time for multi-billion dollar deals is over. “India Inc’s appetite for large deals has gone down. In any case, financing such deals would be tough,” he says.

Listed banks' bad debt rises by Rs 4,000 cr
Gross non-performing assets up 23% in 12 months.

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Sona Koyo Steering Q2 net at Rs 3.71 crore
Auto component maker Sona Koyo Steering Systems reported an unaudited profit after tax (PAT) of Rs 3.71 crore for the quarter ended September 30.
Small Business

Ex-MD of GSK joins Sun Pharma

S Kalyanasundaram, former managing director of GlaxoSmithKline Pharmaceuticals, will join Sun Pharmaceutical Industries, the country’s largest drug manufacturer in terms of market capitalisation, as one of its top three executives. - GlaxoSmithKline gets notice for ad campaign - GlaxoSmithKline Pharma Q1 net up 18.14% at Rs 143.27 cr - Transgene in pact with Dr Reddy"s for obesity drug - Pfizer to source 40 off-patent cancer care drugs from Strides - Piramal Health to raise Rs 1,000 cr for acquisitions - Opto Circuits gets CE nod for drug sale He is head, commercial excellence, for the Asia-Pacific region of GSK, the world’s second largest drug company. Sources said Sun Pharma has not yet finalised the role and designation of his responsibilities, but he will join by April. Sun Pharma’s day to day operations are mainly headed by Dilip Shanghvi, chairman and managing director, and Sudhir Valia, whole time director. Kalyanasundaram, known in industry circles as Kal, was appointed GSK’s managing director in 2003, succeeding V Thyagarajan. A science graduate from Madurai University and a qualified chartered accountant, Kalyanasundaram had joined Wellcome as a commercial advisor in New Zealand in 1988.


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