Business and financial news
Mumbai: JSW Renew Energy Five Limited, a 100 pc step-down subsidiary of JSW Energy Limited has received Letter of Awards (LoA) for total 500MW/1,000MWh Standalone Battery Energy Storage Systems (two projects each of 250 MW / 500 MWh) from Solar Energy Corporation of India Limited (SECI).
Mumbai: Vedanta Resources-owned Cairn Oil & Gas, India’s largest private oil and gas exploration and production company said it has appointed Nick Walker as Chief Executive Officer, effective January 5, 2023.
Hyderabad/UNI: Semiconductor major Microchip Technology has acquired 168,000 square feet of office space in One Golden Mile (OGM), a Grade-A commercial tower located in the business district of Kokapet on the outskirts of the city, a sought-after location for International IT companies.
New Delhi: Lotte Confectionary Ltd. on Wednesday revealed its plans to invest Rs 450 crore in its subsidiary the popular ice cream brand Havmor over the next five years.
Chennai/UNI: India’s leading passenger vehicle exporter Maruti Suzuki today announced that it has commenced exports of its highly successful premium SUV, Grand Vitara, to Latin America and other countries.
Bengaluru/IBNS: Fintech platform PhonePe on Thursday said it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion.
Mumbai/Kolkata: Indian billionaire Gautam Adani-led group's flagship firm Adani Enterprises Limited on Thursday proposed to open on Jan 27 its further public offering (“FPO”), aggregating up to Rs. 20,000 crore issued, on a partly paid basis.
Mumbai/IBNS: Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry, registered 0.3% growth in revenue in Q3FY23.
Kolkata/UNI: Tata Consultancy Services (TCS) has been recognised as a top employer in Europe by the Top Employers Institute for the eleventh consecutive year.
Washington: Amazon has reclaimed top spot as the world's most valuable brand despite losing $51 billion this year, or 15% of its value, according to the annual Brand Finance Global 500 ranking.
Chennai/UNI: Adani Enterprises Limited (AEL), part of the diversified Adani portfolio of companies, today signed an agreement to launch a pilot project to develop a hydrogen fuel cell electric truck (FCET) for mining logistics and transportation with Ashok Leyland, India, and Ballard Power, Canada.
The Indian economy is expected to reach the $26 trillion mark while the per capita income is also expected to increase to $15,000, catapulting the country to the realm of developed economies by 2047, the 100th year of the country’s independence, according to an EY report, said media reports
Amazon.com, struggling with a dip in online sales growth and prepping up for a possible recession, is likely to trim its workforce further, media reports said.
New Delhi/IBNS: The Directorate General of Foreign Trade (DGFT) has notified the amended rules for the calculation of composition fees for extending export obligation under the advance authorization scheme, the Ministry of Commerce and Industry said on Wednesday.
New Delhi/IBNS: The Centre issued allocation orders to successful bidders for three coal mines that were put on sale for commercial coal mining, the Ministry of Coal said on Tuesday.
New Delhi/IBNS: The Ministry of Coal Wednesday said it has set a target to produce more than 1 billion ton (BT) coal during the year 2023-24.
Sequoia-backed car repair startup GoMechanic is going to lay off 70 percent staff after founder Amit Bhasin admitted to financial reporting errors, adding that the cash-strapped company will also have its accounts audited by a third party.
Mumbai: Gautam Adani led Adani Enterprises on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO).
Kolkata: Udaan, India’s largest business-to-business (B2B) eCommerce platform, on Wednesday announced that over 1.7 billion products catering to over 22 million orders were shipped in CY 2022.
New Delhi India’s leading electric two-wheeler manufacturer, HOP Electric,on Wednesday launched the High-Speed variant of its best-selling electric scooter, HOP LEO.
Mumbai: The BSE Sensex on Wednesday added another gains of 390.02 pts, breaching 61K level at 61,045.74, following gains in Metal, Capital Goods, Industrials and Telecommunications stocks.
Kolkata: South Indian Bank and Steel Authority of India Limited have signed Memorandum of Understanding to provide financial assistance to the dealers of SAIL across the country.
Bengaluru: Titan Eye+ has recently announced 50% off on its select range of frames and sunglasses and the offer will be valid till 31st January.
Kolkata: Injecting a new level of character, style and accessibility into the cruiser category, Royal Enfield showcased the gorgeous new Super Meteor 650 at EICMA in November 2022, and then displayed the motorcycle in all its colourways at the brand’s annual motorcycling festival - Rider Mania.
Kolkata/UNI: Bharti Airtel (Airtel) on Wednesday announced the launch of its cutting edge 5G services in NCR (national capital region) cities of Noida, Ghaziabad and Faridabad.
Former RBI governor Raghuram Rajan said on Tuesday it’s still too early to say that India will influence global economic growth, pushing China down the ladder, a media report said.
New Delhi: In the year 2022, jobs and professional networking platform, apna witnessed more than 31 million professional conversations among women from Tier 1, Tier 2, and beyond cities with an overall 36% YoY increase in women users on the platform.
Mumbai/IBNS: The Government will face stiff challenges in the Budget FY24 to stick to the road map for fiscal consolidation, amidst a global environment of declining inflation, according to a report by SBI’s Group Chief Economic Adviser.
Beijing/New Delhi: India is expected to assemble 50 percent of all the iPhones manufactured by 2027, a big leap from its current share of less than 5 percent, to be at par with the scale of production in mainland China, according to media reports.
Mumbai/IBNS: Nearly three quarters (78%) of India CEOs believe global economic growth will decline over the next 12 months, according to PwC’s 26th Annual Global CEO Survey, which polled 4,410 CEOs in 105 countries and territories, including 68 from India between October and November 2022.
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