India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Bengaluru: Infra.Market secured $150 million as debt from Mars Growth Capital, a joint venture between MUFG Bank and AI-based private credit firm Liquidity.The deal includes a five-year extension of its existing $100 million facility and an additional $50 million credit line. This is the company's second fundraising this year, following a $125 million equity round. Founded in 2016, Infra.Market operates a tech-enabled building materials platform that caters to institutional and retail buyers. The company offers more than 15 product categories ranging from concrete and steel to appliances and modular kitchens. It also holds strategic stakes in RDC Concrete, Shalimar Paints, Emcer, Millennium Tiles, and Amstrad, and operates across over 10,000 retail outlets in India.According to the company, Infra.Market is now the second-largest player in India by revenue in the ready-mix concrete segment and ranks second by capacity in both AAC blocks and flooring tiles. Its network spans over 250 manufacturing units across the country.Infra.Market said the fresh financing will support ongoing expansion across infrastructure, industrial, and building construction segments in the $255 billion Indian building materials market. The company is also exploring international opportunities."We're scaling to become India's largest construction materials platform, with an integrated offering across the value chain," said Co-founder Souvik Sengupta. "This capital will help us grow both in India and globally."
MUMBAI (Reuters) -Billionaire Mukesh Ambani-led Reliance Group and U.S.-based BlackRock have received approval from India's markets regulator to start operations for their mutual fund business, the Indian company said on Tuesday. Jio Financial Services, a part of the Reliance Group, had in July 2023 announced the formation of a 50:50 joint venture with the world's largest asset manager to launch asset management services in India. The JV, Jio BlackRock Asset Management, plans to launch a range of investment products in the coming months based on a "digital first" approach for retail and inst ...Read More >
NEW DELHI: MARS Growth Capital, a joint venture between Liquidity Group and MUFG Bank, has extended terms of the existing financing of $100 million in Infra.Market by another five years and also enhanced the financing amount by an additional $50 million. Northcote Luxe FinBrokers were the advisors to Infra.Market for this transaction. This is company's second fund raising for the year. It had raised approximately $125 million in series D financing round earlier this year. Founded in 2016, Infra.Market is a building materials platform. ...Read More >
Ranchi (Jharkhand) [India], August 4 (ANI): The Jharkhand government declared a three-day state mourning, starting Monday, following the passing of the state's former Chief Minister and co-founder of Jharkhand Mukti Morcha, Shibu Soren. "In honour of the late Honourable former Chief Minister-cum-Rajya Sabha MP, the State Government has decided to observe 03 (three) days of state mourning from August 4 to August 6," the message from the Jharkhand government read. Also Read | Kerala Shocker: 47-Year-Old Man Dies by Suicide After Failing to Arrange Funds for Son's Engineering College Admission. ...Read More >
PATNA: Congress leader Rahul Gandhi is all set to embark on 'Vote Adhikar Yatra' from Bihar's Rohtas district on August 17 to register a protest against how the ongoing special intensive revision (SIR) of the electoral rolls was being conducted in the state. This comes at a time when the Opposition is ratcheting up its protest against the SIR and casting aspersions on the integrity of elections. AICC general secretary (organisation) and MP KC Venugopal held a meeting with the INDIA bloc leaders at Sasaram in Rohtas district on Wednesday and reviewed preparations for Rahul Gandhi's visit to Bi ...Read More >
New Delhi, Sep 12 (PTI) India and the European Union (EU) are now maximising their efforts to finalise negotiations for a proposed free trade agreement by the end of this year, with both sides stressing their commitment to a comprehensive and balanced pact to benefit businesses and consumers. The official team of India and the EU are engaged in the 13th round (September 8-12) of negotiations for the agreement here. EU Trade Commissioner Maros Sefcovic and the European Commission's Agriculture Commissioner Christophe Hansen are here to review the progress of talks with Commerce and Industry M ...Read More >
Assam's government is set to preserve its sacred Satra institutions with a new bill. Land rights will be granted to tea garden workers. A significant investment is approved for a new fertilizer plant, promising jobs and economic growth. The Prime Minister is expected to lay the foundation stone for the project soon. Guwahati: The Assam Cabinet meeting has approved the "The Assam Satra Preservation and Development Commission Bill, 2025" to safeguard the sacred heritage institutions, promote their ...Read More >
Ludhiana, Jun 8 (PTI) Punjab Congress president Amrinder Singh Raja Warring on Sunday asserted that his party will win the Ludhiana West assembly bypoll, scheduled to be held on june 19, with a "record margin". "Congress practically has no competition here", he claimed. Warring, who is also the Ludhiana MP, said that the ruling Aam Aadmi Party (AAP) was badly mistaken that the Congress would allow it to abuse power and misuse the official machinery for the elections. "First of all, we will not let any misuse of the official machinery and second, in case any official is found to be misusing ...Read More >
New Delhi, Jul 20 (PTI) NIRL, the renewable energy arm of state-owned NLC India, is expected to go public in the second quarter of the next financial year to raise around Rs 4,000 crore to part fund its expansion plans, a top official of the company said. In an interview to PTI, Chairman and Managing Director (CMD) of NLC India Ltd (NLCIL) Prasanna Kumar Motupalli said that the public sector enterprise is targeting to ramp up its renewable energy capacity from the current 1.4 GW to 10 GW by 2030 and the company plans to raise Rs 4,000 crore through initial public offering (IPO) route. Also R ...Read More >
Union Commerce & Industry Minister Piyush Goyal said in a series of social media posts that he held meetings with the textiles, steel producers in Mumbai and those from the engineering goods sector to discuss strategies for exports. In a post on X, Goyal said, "Held an engaging and forward-looking interaction with the champions of India's agriculture, food-processing and seafood sectors -- the true architects of our food and nutritional security. We discussed a wide range of strategies to scale ...Read More >
The shares of Coffee Day Enterprises sharply surged 10 percent to hit the upper circuit on July 15 after data on the latest shareholding pattern showed that veteran investor Dolly Khanna has bought some stake in the firm. Khanna held 32.78 lakh shares, representing 1.55 percent stake in the parent company of popular chain Café Coffee Day, according to BSE data showing the firm's shareholding pattern as at the end of the April-June quarter. Coffee Day Enterprises shares remained locked in the u ...Read More >
Bangalore Gold Rate Today: Shattering all hopes of retail jewellery buyers of some relief amid the ongoing Navratri festival, gold rates in Bangalore, and other Indian cities broke another record on Monday, September 29. The price of gold in Bangalore, aka Bengaluru, witnessed a sharp surge bringing 24 karat gold Rs 16,000 above the historic Rs 1 lakh mark. The gold price rally in Karnataka capital mirrored the surge in gold rate in India and across the world. The sharp rally in precious metal is on its path to beat the record-rally of 1979. Multiple factors like US Fed rate cut, trade becau ...Read More >
New Delhi, Sep 29 (PTI) Homegrown Premier Energies on Monday announced securing multiple solar contract worth USD 19.95 million (around Rs 177 crore) Republic of Benin, West Africa. These projects are part of a national initiative by the Government of Benin to expand access to reliable, sustainable clean energy, Premier Energies said in a statement. Implementation will be carried out by Premier Energies in collaboration with the General Directorate of Energy Planning and Rural Electrification, under the Ministry of Energy, Water and Mines, Republic of Benin. The scope of the contracts cover ...Read More >
RIYADH: Indian companies and business groups are stepping up efforts to tap into Saudi Arabia's growing petrochemical sector, with a focus on refining complexes, technology partnerships, and joint ventures, according to an official at the Indian Embassy in Riyadh. The move underscores the expanding economic cooperation between the two nations, with chemicals and petrochemicals forming a key pillar of bilateral trade. The partnership was further reinforced during a recent high-level meeting aimed at boosting investment and technological exchange, Al-Eqtisadiah reported. Saudi Arabia's emergen ...Read More >
Given the strong subscription response, Ganesh Infraworld's latest GMP stands at Rs 73, indicating an upside potential of 88% above the upper price band.The SME initial public offering (IPO) of Ganesh Infraworld received a strong response from investors with an overall subscription of 103.2 times by 12:19 pm on the final day of the bidding process. The IPO will close on December 3. The company aims to raise Rs 98.6 crore through the SME IPO, which is a fresh equity sale of 1.18 crore shares, and list the shares on the NSE SME platform. The net proceeds from the public offer will be used for ...Read More >
New Delhi, Dec 12 (PTI) The government on Thursday came out with the definition of green steel and asked the industry to take measures to bring down carbon emissions below the level of 2.2 tonnes on per tonne of finished products. Union Steel Minister H D Kumaraswamy also released a 'taxonomy on green steel' with parameters for giving star ratings on products based on the amount of carbon dioxide (CO2) emitted during the production process. The steel industry has been the backbone of India's industrial growth and it is imperative that this vital sector undergoes a transformative shift towards ...Read More >
Mumbai: Uddhav and Raj Thackeray will hold a joint protest march of their parties in the city on July 5 against what they allege is imposition of Hindi in the state's schools from Class 1 through the new three-language policy. This will be the first time they will come together on a political platform after Raj Thackeray's decision to quit Shiv Sena to form MNS nearly two decades ago.There has been speculation of a reunion of the estranged cousins for the coming civic polls, and the protest march is being seen as the first step in that direction, reports Chaitanya Marpakwar.Uddhav and Raj had ...Read More >
New Delhi, June 28 (SocialNews.XYZ) The Ministry of Power has announced the launch of a task force to conceive the India Energy Stack, a pioneering initiative aimed at creating a unified, secure, and interoperable digital infrastructure for the country's energy sector. The India Energy Stack will play a vital role in integrating renewable energy, enhancing DISCOM efficiency, and delivering transparent, reliable, and future-ready power services, the official statement said. As India charts its path to becoming a $5 trillion economy and advances towards its Net Zero commitments, the power sect ...Read More >
Mumbai (Maharashtra) [India], July 8 (ANI): Maharashtra Chief Minister Devendra Fadnavis is set to inaugurate the newly constructed Sindoor flyover, which was earlier known as Carnac, on July 10. According to a release from the Brihanmumbai Municipal Corporation (BMC), the bridge will connect East and West South Mumbai. Also Read | PM Modi in Brasilia: PM Narendra Modi Receives Grand Welcome From Brazil President Luiz Inacio Lula da Silva at Alvorada Palace, Both Leaders To Hold Talks Next. Deputy Chief Ministers Eknath Shinde, Ajit Pawar, and Legislative Assembly Speaker Rahul Narwekar wil ...Read More >
Patna, Aug 1 (PTI) Healthcare services were affected at AIIMS-Patna on Friday as resident doctors went on an "indefinite strike" in protest against the alleged high-handedness of Sheohar MLA Chetan Anand. According to a press statement issued by the Resident Doctors' Association (RDA), AIIMS-Patna, on Friday, "The RDA expresses deep disappointment and anguish over the lack of action by the administration following the violent and traumatic incident that occurred on Wednesday, when MLA Chetan Anand, his wife and their armed guards breached hospital security, physically assaulted staff, and thr ...Read More >
Bhubaneswar, Aug 19 (PTI) Odisha Chief Minister Mohan Charan Majhi on Monday said that South Korean steel major POSCO is all set to establish a 6 MTPA green field project in the state's mineral-rich Keonjhar district in a joint venture with the JSW Group. Welcoming the return of POSCO to the state, Mjahi said the JSW CEO met him during the day and confirmed that their plant will be set up in Keonjhar, the CM's home district. In 2005, POSCO signed an MoU with the Odisha government to set up a steel plant in Jagatsinghpur district at an initial investment of Rs 52,000 crore. However, the proje ...Read More >
New Delhi: The country's largest carmaker Maruti Suzuki has announced the rollout of its first made-in-India electric vehicle - the e-Vitara SUV - in a major boost to the green segment from its upgraded Gujarat plant, which is now set to become one of the world's largest automotive manufacturing hubs with a projected annual capacity of one million units. Crucially, this facility will serve as Suzuki's global production base for electric vehicles (EVs), exporting to over 100 countries, including advanced markets in Japan and Europe, which is aligned with India's vision of becoming a global aut ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Governor, was released soon after a cabinet meeting held on Monday. Hailing from Andhra Pradesh's Godav ...Read More >
Mumbai: Net profit of Nifty 50 companies at the aggregate level is expected to increase 4.6% year-on-year while revenue may increase 4.5% for the June 2025 quarter. Net profit is likely to show single-digit year-on-year growth for the first time in at least nine quarters amid an anticipated poor performance by select companies, including Tata Motors, IndusInd Bank and Coal India. The sample's revenue is expected to grow in single digit for the fourth consecutive quarter reflecting persistent muted demand scenario. Select companies from metals, pharmaceuticals, cement, banking and finance and ...Read More >
Chennai : TVS Industrial & Logistics Parks (TVS ILP), India's pioneering developer of Grade A warehousing and industrial infrastructure, marked a major milestone today with the successful listing of its Infrastructure Investment Trust (InvIT) -- TVS Infrastructure Trust -- on the National Stock Exchange (NSE). Speaking at the listing ceremony, Ravi Swaminathan, Founder & Vice Chairman, TVS Industrial & Logistics Parks Private Limited said: "Today is a momentous day for our Infrastructure Investment Trust, not only because it marks our listing. It also marks 20 years since the inception of the ...Read More >
New Delhi [India], July 11 (ANI): The UK India Business Council (UKIBC) has released a report, putting out a slew of recommendations to deepen bilateral defence cooperation between the UK and India. Through the report, UKIBC offered suggestions to the UK government to strengthen commercial ties and align strategic priorities with India, including strengthening G2G ties, strategic communication, and industry engagement. UKIBC is a policy advocacy and strategic consulting not-for-profit, with a mission to grow the UK-India trade and investment. UKIBC also suggested establishing a UK-India def ...Read More >
New Delhi [India], August 4 (ANI): India is expected to emerge as a significant player in the global semiconductor market, which is expected to reach USD 1 trillion by 2030. In an official statement released on Sunday, the central government highlighted that India semiconductor market, valued at around USD 38 billion in 2023, is projected to grow to USD 45-50 billion by 2024-2025 and further expand to USD 100-110 billion by the end of the decade. This rapid growth reflects the country growing focus on strengthening its position in the global semiconductor value chain. The govt stated The gl ...Read More >
Epack Prefab Technologies' Rs 504-crore initial public offer (IPO) witnessed a lukewarm start on Wednesday, the first day of bidding, as the issue was subscribed 7% in the first couple of hours of the issue opening. Investors bid for 11.5 lakh shares against 1.76 crore shares on offer, data from NSE showed. The IPO is priced between Rs 194 and Rs 204 per share and includes a fresh issue worth Rs 300 crore along with an offer for sale of Rs 204 crore. As of 12 noon, the IPO was subscribed 7%, ac ...Read More >
WeWork India IPO: WeWork India, a flexible workspace solution in India, has set the price band for its maiden public issue in the range of ₹615 to ₹648 per equity share. The mainline offering comprises an offer for sale (OFS) of 46.3 million equity shares aggregating to ₹3,000 crore. There is no fresh issue component. According to the red herring prospectus (RHP), the company has reserved at least 75 per cent of the issue for qualified institutional buyers (QIBs), not more than 15 per cent for retail investors and not more than 10 per cent for non-institutional investors (NIIs). WeWork India ...Read More >
New Delhi [India], October 28 (ANI): Union Minister Pralhad Joshi said on Tuesday that representatives of more than 120 countries took part in the opening plenary of the Eighth Session of the International Solar Alliance Assembly (ISA) in New Delhi. "President Droupadi Murmu successfully inaugurated the Eighth Session of the International Solar Alliance Assembly, and I'm very happy to share with you that more than 120 countries have participated in this, and their representatives are physically present here," Joshi told reporters. The minister said that ISA member countries account for 40 pe ...Read More >
Srinagar: The Counter-Intelligence Kashmir (CIK) unit of Jammu and Kashmir Police is conducting searches at ten locations across four districts in the Valley. An official told news agency -- Kashmir News Observer (KNO) that the raids are part of an ongoing investigation into a terror-crime case linked to a terrorist sleeper cell and recruitment module handled by Jaish commander Abdullah Ghazi from across the border. The searches are underway at one location in Pulwama, six in Ganderbal, one in Srinagar, and two in Budgam district -- (KNO) ...Read More >