ITC reported its Q2FY25 results on Thursday, October 24, with a net profit increase of 3 percent, reaching ₹5,078.3 crore, compared to ₹4,927 crore in the same quarter last year.
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The call for entries is live for the ET MSME Awards 2024, which marks the fifth edition of India\'s largest celebration of excellence in the MSME sector. Indian enterprises that adhere to the definition of MSME as classified by the Ministry of Micro, Small & Medium Enterprises are eligible to apply.
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Apple rolled out a beta version of its software on Thursday, featuring new Apple Intelligence capabilities, including the much-talked-about ChatGPT integration. However, this is a developer preview and is still far from being released to the public.
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The latest economic data from the United States (US) shows a decline in existing home sales for September, which fell to 3.84 million units. This figure missed the consensus of 3.9 million and is down from August’s 3.86 million.
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In a significant move aimed at strengthening its leadership in artificial intelligence and innovation, Google announced a major leadership reshuffle.
The Amazon Great Indian Festival Sale 2024 brings you an unparalleled opportunity to upgrade your home with the latest washing machines at unbeatable prices. From top brands like LG, Samsung, Bosch, and IFB, this sale offers the biggest price drops of the year on cutting-edge washing machines.
India\'s growth rate is the shiniest part in the global economy, World Bank president Ajay Banga said on Thursday, noting that a lot of this is driven by the domestic market.
Byju Raveendran on Thursday said there is no fraud and if there were fraud, the founders would take money out, but “we have reinvested our money back into the company,” the founder of edtech firm Byju’s said at a press conference.
Apple has made an official announcement about the launch of iPad Mini 2024 which is the very first update since the year 2021. According to The Verge, iPad Mini 2024 will be powered by the A17 Pro Chip and will be having a major performance enhancing facility with a 30 per cent CPU boost and 25% increase in GPU capabilities, as per a report.
Shares of two-wheeler major Bajaj Auto are expected to remain in focus ahead of the company\'s Q2FY25 earnings due to be announced later today.
In a setback for Mukesh Ambani, India’s Telecom Ministry has opted for administrative allocation of satellite communication spectrum, aligning with global trends. Elon Musk, eyeing a Starlink entry into India, criticised Ambani\'s push for an auction. While Ambani argues for fair competition.
The firm signed an MoU with the Odisha government in February to set up EV and battery manufacturing project in Cuttack and Paradip. But, then reports arrived that the conglomerate was considering Aurangabad and Nagpur in Maharashtra as the new sites of its project.
Days after announcing the Great India Festival Sale, Amazon announced standard commission income rates increase for key categories within its network of over 50,000 influencers engaged with the ecommerce giant.
Visa processing platform Atlys has secured $20 million Series B funding co-led by existing investors Peak XV Partners and Elevation Capital, along with participation from others including Internet investment firm DST Global and venture capital firm Headline.
Homegrown food-delivery platform Swiggy has received approval from market regulator Securities and Exchange Board of India (SEBI) after its confidential filing of draft share sale documents, Money control reported on Tuesday, citing sources.
JSW MG Motor -- the joint venture between China\'s SAIC Motor and JSW Group -- will enter the ‘accessible luxury’ segment and plans to introduce four new EV vehicles in the next two years, Gupta said.
 "NCLT grants final approval for merger of TV18 and E18 into Network18")
The Mumbai bench of the National Company Law Tribunal (NCLT) has granted its final approval for the merger of TV18 Broadcast and e-Eighteen.com (E18) into Network18 Media and Investments, a company backed by Reliance Industries Ltd (RIL).
 "Bharti Airtel to invest $1 billion in 4G gear from Ericsson, Nokia, Samsung")
Bharti Airtel, India’s second-largest telecom company, is reportedly planning to issue orders worth around $1 billion to Ericsson, Nokia, and Samsung for 4G network equipment over the next three years.
Lenovo Group has started manufacturing artificial intelligence (AI) servers in India with an annual capacity to produce 50,000 enterprise AI rack servers and 2,400 graphics processing units (GPU) to meet growing AI demand.
Publicly traded Tupperware filed for Chapter 11 bankruptcy protection, listing assets of between $500 million to $1 billion and liabilities between $1 billion to $10 billion.
State-run explorer Oil India Ltd hopes to operate its refinery in the northeastern state of Assam at an expanded capacity of 180,000 barrels per day (bpd) in the fiscal year to March 2027, Chairman Ranjit Rath said on Saturday.
Samsung, Xiaomi and other smartphone companies colluded with Amazon and Walmart\'s Flipkart to exclusively launch products on the e-commerce firms\' Indian websites in breach of antitrust laws, according to regulatory reports seen by Reuters.
Zee-Sony merger: The Mumbai bench of the National Company Law Tribunal (NCLT) has recalled its order approving the $10 billion merger deal between Zee Entertainment (Zee) and Sony Pictures Networks India (Sony Pictures), PTI reported on September 14.
Expediting IPO plans, homegrown food-delivery platform Swiggy may file its draft red herring prospectus (DRHP) with the capital markets regulator Sebi to launch its initial public offering (IPO) as early as this week, suggests a Bloomberg report citing sources.
Even as the Kenyan government till days ago faced demonstrations and resistance from unions against the handover of the management of the country’s main airport to Gautam Adani-led Adani Group, it has confirmed that the conglomerate would build power transmission lines.
 "Adani rejects Hindenburg claims of $310 million fund freeze in Swiss banks")
The Adani Group issued a statement late on Thursday refuting claims made by New York-based short-seller Hindenburg Research. Hindenburg Research alleged that Swiss authorities had frozen over $310 million.
 "Over 30,000 TCS workers affected by TDS errors; Tax dept sends notices")
TCS has a TDS problem. Numerous employees at Tata Consultancy Services (TCS) have been issued demand notices by the income tax department due to discrepancies in tax deducted at source (TDS) claims.
Oracle Corp. said annual revenue will rise to at least $104 billion in fiscal 2029, an optimistic signal on the growth prospects of the software maker’s cloud infrastructure business.
SEMI, the global semiconductor industry association, introduced its Workforce Development Programme in India on Wednesday, aiming to address the global talent shortage in the sector.
Adani Group, responding to the fresh salvo by Hindenburg Research about Swiss authorities freezing more than $310 million in funds in six accounts, has called the allegations baseless.
The company said that through ‘aviio,’ passengers can expect easier access by getting real-time data such as security checks, waiting time, gate change, and bags on the belts, among other information.
American electronics manufacturer Jabil has announced plans to invest ₹2,000 crore in a new facility in Trichy, Tamil Nadu. The project is expected to create approximately 5,000 jobs, bolstering the state\'s industrial sector.
 "Corporate bond issuances fall 22% in August as firms await Fed rate cut")
Corporate bond issuances fell by around 22 per cent in August, despite easing yields, as issuers delayed raising funds while awaiting the US Federal Reserve’s (Fed’s) likely interest rate cuts starting this month.
The Competition Commission of India on Tuesday approved the merger of Tata Motors Finance Limited and Tata Capital Limited. With this, Tata Motors will have a 4.7% ownership stake in the combined entity.
Samsung Electronics employees have been protesting for higher wages at the South Korean company’s South India plant. The plant employs around 1,800 people and makes electronic products for the company.
Japanese electronics and semiconductor company Tokyo Electron Ltd (TEL) on Monday agreed to supply equipment and train the employees of Tata Electronics which is building India\'s first semiconductor fabrication facility in partnership with Taiwan’s Power chip.
Apple iPhone 16, iPhone 16 Plus: US tech giant Apple on September 9 launched its flagship iPhone 16, iPhone 16 Plus, Apple A18 chip and Apple Watch 10 devices during a special ‘glowtime’ event.
Burmans vs Religare case: The Dabur Group promoters, the Burmans, have received a clean chit from the Enforcement Directorate (ED) in the 2023 FIR that was registered against them, accusing instead Religare Group.
The nation’s largest life insurance company, Life Insurance Corporation of India (LIC), saw a 35.10 percent surge in its new business premium for August to Rs 19,309.10 crore compared to Rs 14,292.53 crore in August 2023.
TP Solar Ltd, one of India’s largest cell and module manufacturing companies and a subsidiary of Tata Power Renewable Energy Ltd (TPREL), has commenced production of solar cells at its Tamil Nadu plant.
Quick commerce major Zepto will soon launch Zepto Postpaid, which will be an initiative that falls under the buy now, pay later (BNPL) category.The launch is being shown on Zepto app and is in the early stages. With Zepto Postpaid.
BDO (MSKA & Associates), which was appointed as the auditor of Byju\'s and Aakash Educational Services last year, has resigned from the embattled edtech amid financial and governance concerns.
Tata Sons, the holding company of the Tata group, recorded a 74 percent increase in consolidated net profit for FY24 at Rs 49,000 crore, according to the firm’s annual report.The steller performance was driven by improvements in sectors like information technology.
Paris Paralympics 2024: Indian para-athletes have been showing spectacular performances at the Paris Paralympics 2024. Today on the eight day, all eyes are on three events, including powerlifting, shooting, and athletics.
Adani Enterprises Ltd (AEL) the flagship company of the Adani Group on Thursday announced an early closure of Rs 800 crore secured non-convertible debentures (NCD) issue. The NCD issue which opened on 4 September was slated to close on 17 September.
Zomato Founder and Chief Executive Officer Deepinder Goyal on Thursday announced the launch of a new ‘dark mode’ for the food-delivery giant\'s mobile application. Goyal made the announcement in a social media post.
Amid the ongoing row between a New York-based short seller and the Indian market regulator, a completely different controversy is brewing. It involves the country’s second-most-valuable bank, and its plan to swallow up its securities affiliate.
The bitter battle for inheritance underway at Godfrey Phillips India, the country’s second-largest cigarette maker by market cap, is set for a climax at the annual general meeting of shareholders on September 6.
 "Britannia in talks to acquire Kishlay Foods to expand presence in Northeast")
Britannia Industries is in talks to acquire a majority stake in Kishlay Foods, a Guwahati-based company known for producing both western and traditional snacks, biscuits, sweets, potato chips, noodles, and tea, with an estimated valuation of Rs 600-700 crore.
 "Rapido becomes unicorn with $200 million funding, enters 4-wheeler market")
Mobility startup Rapido has raised $200 million in a funding round led by its long-time investor Westridge Capital, pushing the company’s valuation to $1.1 billion, making it a unicorn.
he Bengaluru bench of the National Company Law Tribunal (NCLT) has deferred the matter between Glas Trust Co, which represents a group of the troubled edtech firm Byju’s US lenders, and the Insolvency Resolution Professional (IRP) for the parent company.
CapitaLand Investment Ltd (CLI) - the Singapore-headquartered global asset management firm - is doubling down on its investments in India. CLI that has been investing in the country for three decades, will be investing over US$ 5 billion or close to Rs 45,000 crore.
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The Securities and Exchange Board of India (SEBI) on Wednesday issued a detailed response hours after some officials reportedly lodged an unprecedented complaint with the Union Finance ministry last month alleging toxic work culture within the organization.
Hitachi Energy India Ltd on Tuesday (September 3) said it has received a tax demand totaling ₹46.29 crore following an audit conducted by the Assistant Commissioner of Commercial Taxes (Audit).
The 29-year-old engineering graduate from IIT-Mandi, who lost his left leg in a train accident back in 2009, won the top honours in the men\'s singles SL3 category, defeating Tokyo silver-medallist Daniel Bethell of Britain 21-14 18-21 23-21 in a grueling final that lasted over an hour.
Former president of Atlas Cycles Salil Kapoor reportedly shot himself dead at his home in Delhi on Tuesday, September 3. Kapoor used to live at Dr A P J Abdul Kalam Road in Delhi\'s Lutyens area.
The rupee declined 4 paise to 83.95 against the U.S. dollar in early trade on Tuesday due to a stronger greenback in global markets and weak domestic manufacturing data. A decline in the domestic equity market also contributed to the drop in the local unit, forex traders said.
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I don’t want you to become like me,” Narayana Murthy told a 12-year-old who asked what it takes to be like the Infosys co-founder. “I want you to become better than me for the greater good of the nation,” he reportedly told an audience at the Teach for India Leaders Week.
Unitech is set to receive environmental clearance for its projects in Noida\'s Sectors 96, 97, and 98 soon, sources have told Business Today TV, adding the clearance is expected as early as this Thursday.
State-owned Container Corporation of India Ltd (Concor) is soon starting coastal movement of goods as part of its multi-modal logistics strategy to offer a cheap, fast, and cleaner mode of transportation. In June this year, Concor and Shipping Corporation of India (SCI) signed a Memorandum of Understanding (MoU) to explore business opportunities.
Debt-ridden telecom Vodafone Idea was slapped with Goods and Services Tax (GST) demand notices from various tax offices to the tune of Rs 73 crore. According to a regulatory filing, the demand includes penalty and interest, issued by nine GST offices.
At just 17 years old, Sheetal Devi has emerged as an inspiring force in the world of para-archery. Born without arms, she has developed a unique technique that allows her to compete at the highest level.
India’s struggle with pesky calls is escalating, despite interventions from regulators like the Telecom Regulatory Authority of India (TRAI).A new survey highlights the growing nuisance, revealing that 95 per cent of mobile users now receive unwanted calls daily.
 "Godrej Properties wins bid for 2 plots in Gurugram, eyes Rs 3400 cr revenue")
Realty firm Godrej Properties has won bid for two residential plots in Gurugram costing Rs 515 crore and will develop luxury homes worth Rs 3,400 crore on these land parcels. In a regulatory filing on Monday, Godrej Properties informed that it has \"emerged as the highest bidder.
Employees at Chris Ellison’s mining company are already banned from working remotely, and soon, even stepping out for a coffee might be off-limits.
“I want to hold them captive all day long,” said Ellison, CEO of Mineral Resources Ltd.
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The violence and political crisis in Bangladesh have resulted in “huge number of inquiries” from global firms for leading textiles and apparel company Raymond, Chairman and Managing Director Gautam Hari Singhania said.
Moreover, PVR INOX is redefining its growth strategy by transitioning towards a capital-light growth model to reduce its capex on new screens addition by 25-30% in FY25. PVR-INOX will partner with developers to jointly invest in new screen capex by shifting towards a franchise-owned and company-operated model.
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Food delivery platform Swiggy on Thursday, August 29, announced the appointment of Amitesh Jha as the new chief executive officer of its quick commerce business Instamart.
Shares of Vodafone Idea Ltd. will be in focus in Friday\'s trade, as the Supreme Court will hear the debt-laden telco\'s curative petition in the Adjusted Gross Revenue. ₹22 per share.
 "Zepto adds $340 million to basket; valuation at $5 billion ahead of IPO")
According to people in the know, Zepto was planning to raise $400 million but restricted it to $340 million so that equity dilution for existing investors was not disturbed. Zepto’s fundraise happens at a time quick commerce is hotting up in India.
Personal care maker Gillette India reported a 26% increase in its profit after tax (PAT) for the quarter ended 30 June 2024. The Mumbai-based company witnessed its PAT rise to Rs 116 crore during the quarter, up from Rs 97 crore in the corresponding quarter previous year.
Reliance Industries Chairman Mukesh Ambani in his address at the 47th AGM of the company announced that Reliance Retail is among the top 5 global retailers in terms of number of stores. He also highlighted that Reliance Retail is also among the top 10 retailers.
The Life Insurance Corporation of India has received a demand order for Goods and Services Tax, Interest and Penalty in Maharashtra State. The order is appealable to the Joint Commissioner of State Tax (Appeals) in Mumbai.
Mumbai | Bengaluru: Tata Digital has introduced a new employee stock option plan (Esop) for its senior executives, as chief executive Naveen Tahilyani enforces a performance-oriented culture at the five-year-old Tata Group ecommerce arm that has seen a significant turnover among its senior leadership.
 "We have seen over 30% improvement using CoPilot: Razorpay's Brahmadesam")
Fintech firms in India have been at the forefront of adopting new technologies to offer the best user experience. Fintech major Razorpay leveraged it to emerge as one of the leading players in the sector.
Bharti Airtel has announced its decision to exit the music vertical by shutting down its Wynk Music app. This comes shortly after the company revealed a strategic partnership with Apple, the maker of iPhone, aimed at enhancing video and music streaming services.
Bollywood superstar Amitabh Bachchan’s family office has reportedly picked a small stake in food delivery and quick commerce company Swiggy. This comes after reports that the company is aiming for an initial public offering, targeting a valuation of $15 billion.
Vedanta Resources, led by veteran industrialist Anil Agarwal will set up two industrial parks – one for aluminum and another for zinc and silver. Speaking about the industrial parks, Agarwal confirmed that these industrial parks would be created on a not-for-profit basis.
The proposed Reliance-Disney merger has inevitably raised a few questions at the level of the Competition Commission of India (CCI) since the entity is expected to have a large viewership share and consequently revenue. This is most relevant to the genres of general entertainment and cricket.
RailTel along with Techno Electric will soon roll out edge data centres at 100 locations across smaller cities in the country to push digital transformation. Edge data centres (EDC) are small data centres in a 10X10 room located at the edge of the network.
Apple Inc has started to train thousands of workers at its Tamil Nadu factory to produce the iPhone 16 Pro and Pro Max as close to the global debut as possible, Bloomberg News reported on August 20 citing sources.
Read More "BigBasket embraces quick commerce, set to rival Blinkit, Zepto, Swiggy")
Tata-owned Big Basket, India’s largest e-grocery platform known for its slotted deliveries, is poised to make a significant shift as it embraces the booming quick commerce model.
 "LG Electronics weighs IPO in India to help chase its $75 billion goal")
LG Electronics Inc. is considering an initial public offering for its India business, tapping a booming stock market to help hit a target of $75 billion in electronics revenue by 2030.
Hindustan Unilever has received a tax notice amounting Rs 962.75 crore, including an interest of Rs 329.33 crore from the Office of the Deputy Commissioner of Income Tax, Mumbai. The company in a filing on Monday said that they had received the order on August 23.
AU Small Finance Bank Ltd., on Monday, witnessed substantial activity as 1.3 crore shares, representing 1.7% of the total equity, changed hands during a pre-market block window.
Indian Oil Corporation Ltd. (IOC) and Bharat Petroleum Corporation Limited (BPCL) have been fined by the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for the fifth successive quarter over non-compliance.
 "Cheap AI bots rapidly expand across India, transforming tech landscape")
Earlier this month, executives from Alphabet Inc.’s Google DeepMind, Microsoft Corp. and Meta Platforms Inc. joined tech founders in Bangalore to watch one of India’s top AI startups unveil a new product that might change how the world’s most populous country uses the technology.
 "Tata Sons avoids mandatory listing after repaying Rs 20,000 crore debt")
To remain an unlisted entity, Tata Sons, the $410-billion holding company of the Tata Group, has voluntarily surrendered its certificate of registration to the Reserve Bank of India (RBI) after repaying over Rs 20,000 crore in debt.
After two acquisitions this year, India\'s second-largest IT services company Infosys is on the lookout to scoop-up more firms and says the acquisition matching scale of recent in-tech buy is certainly a possibility.
State-owned Oil and Natural Gas Corporation (ONGC) on Sunday said it has opened another well on its flagship deep-sea project in Krishna Godavari basin in Bay of Bengal, which will help augment production of crude oil and natural gas.
Global energy solutions provider Chevron will invest $1 billion or Rs 8,300 crore in Karnataka, confirmed Karnataka Commerce & Industries, and Infrastructure Minister MB Patil in a social media post.
Hindalco Industries, which is part of the Aditya Birla Group, is planning a significant expansion with investments totaling $10 billion.Addressing the annual general meeting, Chairman Kumar Mangalam Birla gave a brief of the projects lined up.
Ahead of its Annual General Meeting on September 12, Paytm has proposed significant salary revision for its board of directors. The company said the board members are committed to the company’s responsible financial discipline and good corporate governance.
One 97 Communications, the parent company of Paytm, has agreed to sell its entertainment ticketing business to Zomato for Rs 2,048 crore in cash. This decision aligns with One 97 Communications\' strategy of concentrating on its core payments and financial services operations.
Cognizant has announced the appointment of Rajesh Varrier as its new Global Head of Operations, effective September 2, 2024. Varrier will assume the role of Chairman & Managing Director, India, starting October 1, 2024, as Rajesh Nambiar leaves the company to take up the position of President of NASSCOM.
 "Can Ola's e-bike break ICE's dominance over India's motorcycle market?")
Ola’s founder Bhavish Aggarwal addressed his 6,000-odd stakeholders at Ola Electric’s Gigafactory in Tamil Nadu. During the presentation, he threw one more challenge to the decades.
General Motors (GM), the American automotive manufacturer, is laying off 1,000 employees from its software and service units worldwide, reported Reuters on Monday, August 20.
Larsen & Toubro had filed a Writ Petition in the Bombay High Court against the show cause notice issued by the Principal Commissioner of GST and Service Tax, Mumbai towards Service tax demand of ₹2,237 crore.
Bajaj Auto Ltd on Monday said due to withdrawal of the indexation benefit and change in tax rate, the accounting provision for deferred tax on investment income needs to be restated.
The Supreme Court on Tuesday declined a plea by Byju\'s to prevent the resolution professional of the bankrupt edtech company from constituting a committee of creditors till the top court decides on the case.
A new report by UBS analysts suggests that products on Flipkart Minutes, which is the newest player in the quick commerce sector, are priced about 10 percent lower than those on Blinkit, the current market leader.
The Shapoorji Pallonji Group, in order to consolidate its expansive real estate holdings, has formed a new holding company, Shapoorji Pallonji Real Estate (SPRE). The company reportedly plans to monetise the assets by taking it public soon.
US-based Burger King Corporation has lost a 13-year legal battle against a namesake eatery in Pune after a district court dismissed its lawsuit alleging trademark infringement. The court\'s ruling on August 16, delivered by District Judge Sunil Vedpathak.
Hero MotoCorp Ltd. received a goods and service tax (GST) demand notice of ₹17.64 crore from the Office of the GST Officer, Government of NCT Delhi\'s Department of Trade and Taxes, according to the company\'s Bombay Stock Exchange (BSE) filing on Sunday, August 18.
India’s online gaming sector is navigating uncertain waters as it grapples with a higher 28% tax and state bans on skill-based games, sparking concerns about its future. Additionally, short-term funding has started to dry up.
Ola Electric CEO Bhavish Aggarwal, 38, has come under netizens radar for exaggerated claims about his company\'s position among global electric vehicle makers.
Tata Electronic\'s iPhone manufacturing plant in Hosur, Tamil Nadu, is likely to begin production in November this year, Business Standard reported citing sources.
Mahindra and Mahindra, the country\'s largest sports utility vehicle manufacturer, has no immediate plans to export its newly launched 5-door Thar ROXX, Rajesh Jejurikar, CEO & Executive Director (auto & farm), Mahindra & Mahindra told Business Today on Wednesday.
 "Games24x7 looks to keep users engaged despite heavy GST on online gaming")
Despite the 28 per cent goods and services tax (GST) imposed on online gaming, Games24x7, a gaming unicorn, is investing heavily in product enhancements and exploring cross-monetisation opportunities to boost user engagement and retention.
Cognizant has reportedly rolled out salary hikes ranging from 1% to 5% for some of its employees, following a four-month delay. The hikes come amidst an uproar over the company’s decade-low starting salary offers for fresh graduates.
A study by Randstad has found that work-life balance, equity, attractive salary, and the right compensation and benefits package, are the 3 most important employee value proposition (EVP) drivers for the Indian workforce when choosing an employer.
Bhavish Aggarwal on Thursday also launched its electric motorcycles and unveiled its indigenously developed cells and battery pack, along with the new Gen-3 platform and MoveOS 5.During its event Sankalp 2024, Ola Consumer introduced innovations including ONDC integration.
Starbucks on Tuesday announced that Brian Niccol, head of Chipotle Mexican Grill, will replace Laxman Narasimhan as chairman and CEO, just a year after Narasimhan took the position. Niccol will begin his new role on September 9, with Starbucks CFO Rachel Ruggeri serving as interim CEO until then.
Anil Agarwal-controlled Vedanta Ltd said its board has approved an offer for sale (OFS) for its 2.6 per cent stake in Hindustan Zinc (HZL) through the stock exchange mechanism. In an official statement submitted to the stock exchanges.
The Reserve Bank of India has approved Tata Capital\'s conversion into an NBFC – Investment Credit Company (ICC) from an NBFC – Core Investment Company (CIC). Tata Capital, an important subsidiary of Tata Sons.
The day has finally arrived as India\'s sports fraternity looks to end their long wait for a verdict from the Court of Arbitration for Sport (CAS) on Indian wrestler Vinesh Phogat\'s plea for a joint silver medal at the Paris Olympics.
Instagram is reportedly working on allowing users to share real-time updates with their friends on a map. The new feature, which has been in the pipeline since February, is being rolled out for testing in a few small markets.
Vodafone Idea’s losses narrowed to ₹6,434 crore for the quarter ended June 2024, from ₹7,674 crore the year before, while revenues shrunk marginally to ₹10,508 crore from ₹10,606 crore, even as the struggling telecom carrier recorded 12 consecutive quarters of 4G subscriber.
One of country’s largest business houses, Reliance Group reduced its employee strength significantly in FY2024. Additionally, in search of an integrated collusion to its businesses, the diversified conglomerate also reduced the number of hirings in the last financial year, in comparison to FY2023.
JSW Steel will acquire the controlling stake in an Australian miner for $170 million as India’s largest steelmaker seeks to secure the supply of coking coal—a key raw material that is scarce in India—to meet its expansion plans.
India's leading companies are increasingly investing in training their top brass, including chief executives, with the money spent on upskilling surging twofold to fourfold in the past few years
Read More/dq/media/media_files/qet5infEjhaszdhg90xD.png "Dell slashes 12,500 jobs in bold AI shift: reports")
US technology group Dell has announced its latest round of layoffs in a bid to streamline sales and marketing efforts and sharpen its focus on AI products and services.
Southeast Asia’s growing interest in artificial intelligence is causing concern among experts who warn that such blanket integration of the technology could lead to serious ethical issues.
Over 40% of managers in the United States are considering replacing their employees with AI due to the technology\'s ability to deliver high-quality output , according to a survey conducted by Beautiful.ai
Hindenburg Research, after its report on SEBI Chairperson Madhabi Puri Buch claiming that she and her husband had stakes in obscure offshore funds used in the Adani money siphoning scandal.
It isn’t just the CEOs of Indian origin who’ve taken the by storm in the US. A number of the top-tier leadership positions or CXOs in these companies are also held by Indians
In just 10 seconds, Neeraj Chopra announced his supremacy as he roared into the final with a monster throw of 89.43m in his first attempt in the qualifiers earlier this week in the 2024 Paris Olympics.
Team India outclassed Spain 2-1 in the bronze medal match of men\'s hockey at the Paris 2024 Olympics on Thursday.India captain Harmanpreet Singh netted the equaliser seconds before the half-time hooter.
Bhavish Aggarwal, who became a new entrant in the India’s billionaires club after Ola Electric Mobility’s listing on August 9, hailed the achievement and said “this moment is finally sinking in.
Tata Motors will be exploring opportunities such as better supply chain security after Tata Group unveiled the chip manufacturing plant in Assam last week, Shailesh Chandra, MD, Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility Ltd.
The upending of India’s cement market in May 2022 could have been foretold in November 2021 when Switzerland’s Holcim announced its ‘Strategy 2025’.
Gulf Oil Lubricants India Q1 Results Live: Gulf Oil Lubricants India declared their Q1 results on 06 Aug 2024. The topline increased by 10.14% & the profit increased by 26.49%.
The initial public offering (IPO) of Ola Electric Mobility Ltd was open for subscription from August 2 to August 6. The two-wheeler electric vehicle company is expected to list its shares on the stock exchanges BSE and NSE on August 9.
 "Fevicol adhesive maker likely to clock 14% EBITDA growth, 140 bps margin improvement; here is what else you can expect")
Pidilite Industries - a Mumbai-headquartered consumer and industrial specialty chemicals maker whose popular brands include Fevicol, Dr Fixit and M-Seal - is scheduled to report its financial results for the April-June period on August 7.
 "Quick commerce unicorn Zepto to shift base from Mumbai to Bengaluru")
Flush with funds, quick commerce unicorn Zepto is looking to shift base from Powai in its home city of Mumbai to a larger office space in Bengaluru’s Sarjapur to account for its imminent new hires.The company will continue to have an office in Mumbai, but its operations will largely be carried out through the new space in Bengaluru.
 "CoinDCX announces customer protection fund days after WazirX heist")
Crypto exchange platform CoinDCX announced that the firm has allocated Rs 50 crore as part of its Crypto Investors Protection Fund (CIPF) to compensate users for losses incurred in security breaches. This comes days after crypto exchange WazirX faced a cyber theft leading to a loss of $230 million.
JioFinance has taken a significant step towards global expansion by enabling payments in Paris. The JioFinance app can now be used for transactions at select tourist attractions in the French capital, marking the company\'s first foray into international markets.
Indian chemicals maker Tata Chemicals reported a 71.8% fall in its first-quarter profit on Monday, hurt by lower soda ash prices and subdued demand. Consolidated net profit fell to 1.5 billion rupees ($17.9 million) for the quarter ended June 30 from 5.32 billion rupees a year earlier.
 "Motherson Group set to join Apple supply chain in India with BIEL Crystal")
Motherson Group is set to join the Apple supply chain network in India, in partnership with Hong Kong-based BIEL Crystal Manufactory, a leading global supplier of smartphone glass.The move will position the Vivek Chaand Sehgal-led auto component manufacturer as the second major business group, following Tata, to become an Apple vendor.
Reliance Jio has announced the discontinuation of its widely opted ₹395 and ₹1,559 prepaid plans, leaving many subscribers dismayed. These plans were favoured for their unlimited 5G data offerings and extended validity periods.
SoftBank Group Corp. is likely to report a small profit, an indication of how past mistakes continue to weigh on the company even as billionaire founder Masayoshi Son prepares his next big AI bet.
When Jamsetji Tata, the visionary founder of the Tata Group, faced insurmountable odds in the shipping industry, he made the bold decision to shut down Tata Shipping Line in the 1890s.
India\'s small car segment market continues to become smaller in the passenger vehicle industry. Maruti Suzuki India will continue to put efforts into manufacturing low-cost small cars for budget-concerned buyers, said RC Bhargava, Chairman of Maruti Suzuki India Limited.
On August 1st Intel released a dismal set of results. The semiconductor giant’s sales were down by 1%, year on year, and the company declared a net loss of $1.6bn, compared with a profit of $1.5bn in the same period in 2023.
Gautam Adani, the 62-year-old Chairman of Adani Group has in a media interview said that he plans to step down from the role once he is 70, Reuters reported on August 5.
Zydus Lifesciences Ltd on Wednesday said the Mexican regulatory authority has granted marketing approval for Mamitra, a Trastuzumab biosimilar used to treat various types of cancer.
 "Cognizant Q2 net rises 22% to $566")
Cognizant has revised its full-year revenue growth guidance for FY24 from $19.3 billion to $19.5 billion, representing a growth of -0.5 per cent to 1 per cent.
Indian stock market indices opened at record high on Thursday with the benchmark Nifty 50 crossing above 25,000 level and the Sensex breaching 82,000 for the first time.
First cry IPO price band: Brain bees Solutions Ltd, which runs omnichannel children\'s clothing enterprises under the First Cry brand price band has been fixed in the range of ₹440 to ₹465 per equity share of the face value of ₹2.
Infosys, India\'s second-largest IT services company, received a goods and services tax (GST) demand of ₹32,403 crore. This demand is related to services availed by Infosys from its overseas branches over a five-year period starting in 2017, claimed a Reuters report.
 "Reduction of corporate tax in Budget will promote India-US trade: Ex-CEA")
Union Budget 2024-25 announcements, including a reduction in corporate tax and the removal of Angel Tax, will promote India-US economic engagement, according to Krishnamurthy Subramanian
Shares of the chipmaker, which is set to report quarterly results on Thursday, were up about 1% in extended trading. The stock has slumped 40% so far this year. Intel declined to comment on the report when contacted by Reuters.
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Sajjan Jindal-led JSW Cement has begun evaluating acquisition of the promoter stake in Orient Cement Ltd (OCL) from CK Birla, said people aware of the development, amid a consolidation wave in the sector that’s seen the Aditya Birla and Adani groups race to pick up assets across the country.
The Board of Control from Cricket in India (BCCI) has said that it is in talks with beleaguered edtech company, Byju’s, over repayment of pending dues of Rs 158 crore. This comes after National Company Law Tribunal (NCLT) Karnataka ordered insolvency proceedings against Byju’s following an appeal by BCCI against Byju’s over non-payment of dues on July 16.
Samsung Electronics said Wednesday it registered its fastest growth since 2010, with operating profits soaring for the second quarter, as chip prices bounce back and demand for generative AI continues to grow. The world\'s largest memory chip maker posted an \"operating profit of KRW 10.44 trillion ($7.5 billion) as favorable memory market conditions.
One was filed by Ratan Tata claiming that some of these conversations, being private, should not be allowed to be made public. And the other petition, filed by NGO Centre for Public Interest Litigation (CPIL), had sought that these transcripts be made public in the larger public interest.
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The board at Rapido has passed a special resolution to allot 10 equity shares, 95,479 Series E, and 95,489 Series E1 compulsory convertible preferred shares (CCPS) at an issue price of Rs 52,467 per share for a consideration of Rs 1,002 crore or $120 million, according to an Entrackr report, which has quoted the company’s regulatory filings with the Registrar of Companies.
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CE Info Systems, the parent company of MapMyIndia, has sent a legal notice to Ola Electric over allegations of copying data to build Ola Maps as the company prepares to launch its mapping service in the country, Forbes India reported on Monday, July 29.
the American investment firm, is expected to bid nearly ₹40,000 crore for a 51 per cent stake in the iconic Indian snack brand Haldiram\'s, Moneycontrol reported on Monday, July 29, quoting people aware of the matter.
The French aircraft manufacturer Airbus has listed eight potential site locations for setting up its final assembly line for the H125 helicopters in India, reported PTI on Sunday, July 21.
“We have identified eight sites which we are currently assessing. We are still in the final assessment stage.
The Indian crypto exchange WazirX\'s Co-Founder Nischal Shetty announced a prize of $23 million as a part of its “bounty program” for recovering the $234 million assets stolen in the hacker attack, according to a post on the social media platform X on Sunday, July 21.
E-commerce giant Amazon has approached Swiggy and shown interest in the company\'s quick commerce business Instamart, says a report in the Economic Times, citing 3 sources aware of the matter. However, there is no official offer for the tablet yet and the report states that early discussions paint a difficult chance of a deal being completed given the complicated structure of the deal in its current form.
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The qualified institutions placement (QIP) of Vedanta Ltd amounting to Rs 8,000 crore received around three times subscription around Rs 23,000 crore, institutional brokers said.
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Byju Raveendran-led education technology company Byju\'s will challenge insolvency proceedings initiated against it this week.
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Amazon has introduced a new policy to monitor the office hours of its corporate employees, aiming to discourage the practice known as \'coffee badging.\'This term refers to workers who badge in, grab a coffee, and then leave shortly afterward to fulfill their return-to-office mandate.The move is part of Amazon\'s ongoing efforts to enforce its return-to-office policy amid significant employee resistance.
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Nuvama upgraded LTIM\'s target price to Rs 7,000 from Rs 6,650, maintaining a ‘BUY’ rating and rolling forward its valuation to 30 times September 2026 earnings. Nirmal Bang increased EPS estimates by 4.3-7.4% for FY25-FY27, raising its rating from ‘Sell’ to ‘ACCUMULATE’ with a new target price of Rs 5,849.
Hindustan Unilever Limited (HUL) has announced the sale of its water purification business, Prueitt, to AO Smith Corporation for Rs 601 crore. This strategic move marks a significant transaction in HUL\'s portfolio restructuring efforts.
Whistleblowers have raised concerns
and requested the US regulator to examine OpenAI\'s non-disclosure agreements
(NDAs) with its employees. This scrutiny follows allegations regarding the
terms and impact of these agreements on transparency and accountability within
the organization.
SpiceJet has reported a net loss of ₹423 crore for the fiscal year 2024, marking a notable improvement compared to the net loss of ₹1,513 crore recorded in FY23. This indicates a positive trend in the airline\'s financial performance, reflecting efforts towards reducing losses.
Tata Steel has set a target to achieve 40 million tonnes per annum (mtpa) production capacity by 2030 through significant capital expenditure (capex) investments. The company plans to allocate ₹10,000 crore annually towards this goal, signaling its ambitious growth strategy in the steel industry.
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The Adani Group has received approval to develop a greenfield project in Vietnam, signaling its strategic intent to expand its ports business for facilitating overseas trade, according to reports. This move underscores Adani\'s efforts to strengthen its global presence and infrastructure footprint in the region.
In the first quarter of FY25, DMart reported a significant 17.5% increase in net profit, reaching Rs 773.8 crore. Additionally, the company\'s revenue rose by 18.6%, reflecting robust performance amid market challenges.These results underscore DMart\'s strong operational efficiency and growth trajectory in the retail sector.
Uber has sought clarity from Karnataka AAR and GST authorities after a ruling exempted platforms linking service providers with customers from GST, contrasting with previous decisions. The AAR\'s varied interpretations on the role of digital platforms in service provision, exemplified by cases like Namma Yatri and Opta Cabs, highlight the ambiguity.
Home-grown chip maker Polymatech has started manufacturing opto-semiconductors and memory modules at its Kancheepuram facility in Tamil Nadu. These chips, used in lighting, medical, and food sanitization, offer over 97% Color Rendering Index (CRI) and are initially produced at 400,000 units daily, with plans to increase to 1 million per day.
Federal Bank shares hit a record high of Rs 196.60 for the second consecutive session, driven by a broader market rally. The stock has shown strong technical indicators, including trading above all major moving averages and a high Relative Strength Index (RSI) of 77.2.Technical analysts suggest a trading range of Rs 185 to Rs 208, with potential targets of Rs 210 to Rs 220
The Centre has notified that GST will apply to corporate guarantee fees, set at 1% per annum of the loan guaranteed, effective from October 23, 2023. This decision follows the 53rd GST Council meeting, which stipulated an 18% GST rate on corporate guarantees between related parties
A recent survey titled ‘Chartis Market View: ESG and Climate Risk Survey’ reveals that over 72% of global financial institutions plan to invest up to $500,000 or more in ESG technology to enhance climate risk solutions. The study highlights that major investment areas will include emissions data, climate risk modeling, and regulatory reporting tools
Raymond Ltd shares plummeted 40% at market open due to the demerger of its lifestyle business, which now trades separately. Each existing Raymond shareholder received four shares of Raymond Lifestyle for every five Raymond shares held. Post-demerger, Raymond focuses on its real estate and engineering businesses, aiming for value unlocking.
The Sleep Company aims for ₹1,000 crore revenue by FY27, focusing heavily on expanding its offline presence with plans to grow from 100 to 150 stores by March. Currently generating 65% of revenue offline, up from a previous 50-50 split with online sales, the company is accelerating store openings across 30 cities
SEBI Chairperson\'s concern over F&O trading. Information given about forming an expert committee. Important decisions in SEBI board meeting. Voluntary delisting rules approved. New rules for fin influencers. Know complete details from Brajesh Kumar
Juniper Green Energy on Wednesday said it has inked two pacts for supply of 480 MW electricity from its solar-wind hybrid capacity to Gujarat Urja Vikas Nigam (GUVNL) and NTPC.According to a company statement, GUVNL Hybrid Phase 1 project has 190 MW of hybrid capacity (140 MW solar and 50 MW wind). It is set to generate 412 million units of electricity annually, offsetting 3,84,067 tonne of CO2 and supplying clean energy to 82,016 households.
Reliance Retail plans to reintroduce Shein in India, leveraging its strong design capabilities and efficient supply chain. This move follows Shein\'s ban in 2020 amid India-China tensions. The Indian fast fashion market, estimated at $10 billion, is poised for substantial growth. Shein\'s expertise in quick turnaround and affordable pricing could challenge current leaders like Zara and H&M.
CMF has launched the Phone 1 in India, starting for the 6GB RAM + 128GB storage model, for the 8GB RAM + 128GB storage variant, available on Flipkart. Initially, buyers can avail a discounted price of Rs 14,999 with select bank cards, for a limited time. Accessories like a lanyard, stand, and card holder are priced at Rs 799 each, while removable back covers in multiple colors cost
 "ChatGPT India Inc's Q1 FY25 Results Preview: Expectations for a Muted Performance")
Reliance Retail plans to challenge Decathlon in India\'s athleisure market with a new sports format, aiming for 8,000-10,000 sq ft spaces in top cities, per an Economic Times report. The move mirrors Decathlon\'s successful model, amid the French retailer\'s robust growth in India, reaching ₹3,955 crore in FY23. Reliance\'s strategy coincides with expanding offerings from leading sports brands like Puma and Adidas, indicating a competitive push into the thriving sports and fitness sector.
Tata Motors Ltd. and Mahindra & Mahindra Ltd. are intensifying competition against Hyundai Motor Co. in India, challenging its position ahead of a planned $3.5 billion IPO for its local unit. Hyundai faces pressure as Tata and Mahindra close in on its market share, with Tata Motors selling 13.2% of passenger cars last month compared to Hyundai\'s 13.5% and Mahindra\'s 12.4%. Hyundai plans substantial investments in India, including $2.4 billion for electric vehicles and aims to launch an electric version of its popular Creta SUV by early 2025 amid competitive market dynamics.
HRERA Gurugram has fined Vatika Ltd ₹5 crore for failing to register its Vatika India Next project on time under RERA guidelines. The penalty was imposed for violating Section 3 (1) of the Real Estate (Regulation and Development) Act 2016, requiring registration within three months of the Act\'s notification in 2017. Despite obtaining a license in 2013, Vatika applied late, prompting HRERA\'s action based on a 2022 government notification
Wipro Ltd has settled a nine-month dispute with its former CFO Jatin Dalal, who joined Cognizant Technology Solutions Corp. Cognizant will pay Dalal approximately $505,087 (₹4.2 crore) as settlement and reimburse his legal fees. This resolution marks the second settlement under CEO Srinivas Pallia\'s leadership within four months. Wipro had originally sought damages and injunctive relief from Dalal for alleged breach of non-compete and confidentiality obligations, demanding a significantly higher amount than the final settlement.
Xiaomi plans to double its shipments of devices in India by the next decade, said its India unit president Muralikrishnan B. at a media roundtable
Hyundai faces competition from Tata Motors and Mahindra & Mahindra in India's car market, with Tata selling 13.2% and Mahindra 12.4% of all passenger cars last month.
TCS promotion: Hikes and promotions at TCS, India's largest IT firm, will now be reportedly linked to the firm's recent return-to-office mandate.
Starting at Rs 35 per month subscription, Paytm Health Saathi offers a range of services that includes unlimited doctor teleconsultation, in-person doctor visits (OPD) within its partner network
Ola CEO Bhavish Aggarwal criticizes "techno-colonialism," likening the export of India's data to the exploitation by the East India Company
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Senior lawyer Mahesh Jethmalani alleges a "smoking gun" in the Hindenburg report on Adani Group, claiming a 'Chinese connection'.
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Tata Steel has initiated legal action against the UK\'s Unite Union as 1,500 Tata Steel workers in Britain prepare to start an indefinite strike on July 8.. The strike stems from Tata\'s decision to close two.
HDFC Bank\'s MSCI Emerging Market index weight may rise from 3.8% to 7.2-7.5%, potentially attracting $3.2-$4 billion in inflows, noted Abhilash Pagaria
Shares of Kotak Mahindra Bank fell over 2% following allegations by Hindenburg Research regarding the bank's involvement in short selling Adani group
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Apple announced a partnership with OpenAI at WWDC 2024, enabling ChatGPT ntegration in iOS 18 without financial compensation. As part of the deal, Apple secures...
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Zomato, led by Deepinder Goyal, recently disclosed a GST demand exceeding Rs 9.45 crore from Karnataka's Assistant Commissioner of Commercial Taxes (Audit) for FY 2019-20
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Force Motors, based in Pune, recorded a total sales decline to 2,553 units in June 2024 from 2,628 units in June 2023 across Small Commercial Vehicles (SCV)
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