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.
New Delhi, Jul 18 (PTI) Hindustan Zinc Ltd (HZL) CEO Arun Misra on Friday rejected US short-seller Viceroy's allegation that Vedanta has violated the brand fee agreement with the government, saying that a due process was followed by the board. Viceroy Research in a recent report had alleged that Vedanta violated its agreement with the government with regard to collection of brand fee from HZL. "We are very clear in our approach. We take matters to board after due consultation, legal vetting...we share (the proposals) with Government of India, nominee director before the board meeting. They have adequate time to go through (the proposals)," he told PTI. It is for the board to approve or disapprove a proposal, he said adding that the due process was followed while approving the brand fee and "we don't find any issue in that." According to the latest shareholding data, the government owns a 27.92 per cent stake in HZL, while Vedanta has a 61.84 per cent stake. Viceroy Research has published a series of reports against Vedanta and its subsidiaries over the last few days. In October 2022, Vedanta imposed a 'brand fee' on HZL. This is not only an uncommercial contract, but a breach of the company's shareholder agreement with the government, Viceroy had said. As part of privatisation process, Vedanta had acquired a stake in HZL from the Centre in 2002. PTI SID SID ANU ANU
Investing.com-- Shares of Super Micro Computer Inc (NASDAQ:SMCI) rose sharply in evening deals on Monday after it named BDO USA as its auditor and said it had submitted a plan to the Nasdaq seeking more time to comply with listing rules. Super Micro shares jumped 36% to $29.30 by 18:32 ET (23:32 GMT). The server maker said it believed it will be able to complete its annual and quarterly reports, although it did not specify when it would do so. "BDO is a highly respected accounting firm with global capabilities. This is an important next step to bring our financial statements current, an eff ...Read More >
Alber doubled Williams-Sonoma's business since 2010 and widened the margin; growth is expected to continue and support a healthy capital return. There are many reasons to own a stock, and the CEO is one of them. The right CEO can be the defining factor in a company's success, shaping operations, driving growth, and delivering substantial shareholder returns. Strong leadership often signals not just steady performance but transformative potential. Brian Niccol and Laura Alber are prime examples of how executive vision can create lasting value. Their track records at Chipotle Mexican Grill Inc ...Read More >
BJP member Manas Dutta blamed the previous BJD government and held it responsible for not extending their service agreement which ended in April, 2024. As hundreds of women working as support staff under the Mission Shakti department staged a demonstration outside the Assembly over different issues, the opposition BJD on Monday demanded immediate release of their salaries. While the agitating women were shouting slogans at the Mahatma Gandhi Road leading to the Assembly, the issue was raised in ...Read More >
New Delhi, Dec 17 (PTI) Congress MP Shashi Tharoor on Tuesday hit out at the government, saying voting at the introduction stage of two bills on simultaneous elections in the Lok Sabha showed the BJP did not have the two-third majority required to pass a constitutional amendment. Two bills that lay down the mechanism to hold simultaneous elections were introduced in the Lok Sabha after a fiery debate on Tuesday. Opposition parties dubbed the draft laws -- a Constitution amendment bill and an ordinary bill -- as an attack on the federal structure, a charge rejected by the government. "We (th ...Read More >
New Delhi, Dec 26 (PTI) The Metropolitan Stock Exchange of India (MSE) is set to raise Rs 238 crore from four entities including Billionbrains Garage Ventures, Groww's parent, and Zerodha's Rainmatter Investments in a bid to stay afloat. Others who invested in MSEI are -- BSE-listed Share India Securities, and Securocorp Securities India. The exchange's board in its meeting on Tuesday approved the issuance of 1.19 billion equity shares at Rs 2 per share, comprising Rs 1 face value and Rs 1 premium to these four investors through a private placement, according to a disclosure on MSEI's websit ...Read More >
New Delhi, Jan 14 (PTI) The Delhi High Court on Tuesday sought the stand of comptroller and auditor general of India (CAG) on a PIL seeking its 14 reports on city administration to be made public. A bench of Justices Yashwant Varma and Harish Vaidyanathan Shankar asked CAG to explain why its report could not be made public, and posted the hearing on January 24. Also Read | Karnataka Shocker: Woman Throws 4 Children Into Canal in Vijayapura Allegedly Due to Financial Distress, 2 Bodies Recovered. Brij Mohan, a retired civil servant, who filed the PIL said the voters in Delhi must be aware of ...Read More >
New Delhi, Dec 3 (UNI) In its first results post listing, on-demand convenience platform, Swiggy on Tuesday announced a 30 percent growth in Gross Order Value at Rs 11,306 crore for the quarter and half year ended September 30, 2024. Swiggy's overall Gross Order Value (GOV) grew 30 percent YoY to reach Rs 11306 crore, while the consolidated adjusted EBITDA loss of Rs 341 crore represented a reduction in the loss by 30 percent YoY. Platform Average Monthly Transacting Users (MTU) grew 19.2 percent YoY to 17.1M, the company said in a release. Sriharsha Majety, MD & Group CEO, Swiggy, said "The ...Read More >
New Delhi, Dec 12 (PTI) Vedanta group firm Hindustan Zinc Ltd on Thursday said it has entered into a pact with the Rajasthan government to invest Rs 36 crore in the education sector of the state. The announcement was made during the Education Pre-Summit, part of the Rising Rajasthan Global Investment Summit 2024 held in Jaipur from December 9-11. The investment will be focused on 72 government schools under its flagship education initiative, Shiksha Sambal programme, Hindustan Zinc said in a statement. The company aims to improve the quality of education through various development programm ...Read More >
ISKCON Kolkata has raised concerns with India over ongoing persecution of its monks and Hindu communities in Bangladesh, following the arrest of monk Chinmoy Krishna Das. ISKCON Kolkata has seriously raised concerns with the Indian government over the ongoing persecution of its monks and Hindu religious communities in Bangladesh. This is after the recent arrest of monk Chinmoy Krishna Das, a development that is very worrying in light of a series of attacks on members of the Hindu Vaishnavite order and other minority communities. ISKCON Kolkata spokesperson Radharaman Das shared with PTI that ...Read More >
As a part of the new agreement between Mazagon Dock and BEML, Mazagon Docks will make facilities available to BEML's research team in exchange for their technical support to design and manufacture strategic equipment, reported PTI. The government-owned BEML Ltd. (formerly known as Bharat Earth Movers Ltd) announced on Wednesday, November 27, that it has signed an agreement with Mazagon Dock Shipbuilders to develop technologies for the marine industry, news agency PTI reported. According to the company statement cited by the agency, the company aims to leverage the opportunity to expand its e ...Read More >
New Delhi, Dec 3 (PTI) Shares of seven Adani Group firms ended in the green on Tuesday, with Adani Ports surging 6 per cent, emerging as the biggest gainer among the Sensex and Nifty firms. The stock of Adani Ports surged 6.02 per cent, Ambuja Cements soared 5.15 per cent, ACC (2.56 per cent), Adani Enterprises (2.33 per cent), Sanghi Industries (2.09 per cent), Adani Wilmar (1.19 per cent) and NDTV (0.45 per cent) on the BSE. Also Read | What Is 'Tankhah', Religious Punishment Given to Sukhbir Singh Badal by Akal Takht in 2015 Sacrilege Case?. However, shares of Adani Green Energy went low ...Read More >
New Delhi, Dec 4 (PTI) Eicher Motors on Wednesday said Royal Enfield has commenced operations of a new CKD (Completely Knocked-down) assembly facility in Thailand. Royal Enfild is a part of Eicher Motorts. "Our strategic intent is to have an international expansion strategy of investing in markets with huge potential to grow. Thailand assembly plant caters to this vision," Royal Enfield CEO B Govindarajan said in a statement. The new facility is the Royal Enfield's sixth CKD assembly unit globally - after Argentina, Colombia, Brazil, Bangladesh and Nepal. "We are confident that this (Thail ...Read More >
India's housing market is booming, with 2024 projected to be the best year yet. Over 300,000 homes worth ₹510,000 crore are expected to be sold across the top seven cities, driven by economic growth and infrastructure improvements. Sales in the first nine months already reached nearly 230,000 homes, indicating continued robust demand and rising capital values.India's housing property market continues to remain on a strong footing, with the year 2024 expected to end as the best year ever in term ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...Read More >
New Delhi, Jan 8 (PTI) Global hospitality major Radisson Hotel Group on Wednesday announced the opening of a new property at Vellore in Tamil Nadu. With the opening of The Park Inn by Radisson Vellore, the group now has seven hotels across the state under brands such as Radisson, Radisson Blu and Park Plaza, Radisson Hotel Group said in a statement. "This opening underpins our strategy of being the first mover and focusing on Tier III cities like Vellore where rich cultural heritage meets a growing economic landscape. This approach allows us to cater to diverse travellers while fostering new ...Read More >
New Delhi, Jan 17 (PTI) IT service provider Tech Mahindra on Friday announced the opening of an advanced Manufacturing Experience Centre at its Chennai campus. The centre was inaugurated by Mahindra Group chairman Anand Mahindra and Tech Mahindra CEO Mohit Joshi, according to a company statement. The centre will help manufacturers to quickly prototype and scale AI-based innovations to tackle industry issues like high operational expenses, inefficiencies in processes, supply chain disruptions, and complex operational challenges. Additionally, it will function as a hub where customers can vis ...Read More >
In a turbulent market environment, Leslie's Inc. (LESL) stock has tumbled to a 52-week low, reaching a price level of just $2.42. This significant downturn reflects a stark contrast from its performance over the past year, with the company's shares experiencing a precipitous decline of -54.12%. Investors are closely monitoring Leslie's financial health and market position, as the stock's current valuation marks a critical juncture for the company's future trajectory. The substantial year-over-year drop has raised concerns among shareholders and market analysts alike, as they seek to understand ...Read More >
Bhubaneswar, Dec 3 (PTI) A delegation of the Opposition BJD on Tuesday met Union Minister for Jal Shakti C R Patil and apprised him of the potential submergence of large areas in Odisha's Malkangiri district, due to construction of a multi-purpose project in neighbouring Andhra Pradesh. The delegation, led by senior leader Debi Prasad Mishra, also submitted a memorandum with the Ministry of Jal Shakti. The regional party in its memorandum mentioned that the Polavaram project is likely to impact the lives and livelihoods of thousands of tribal people, especially those from vulnerable and prim ...Read More >
Mumbai, Dec 11 (PTI) Murugappa Group-run TCI Clean Mobility subsidiary TIVOLT Electric Vehicles on Wednesday said it has signed a pact with EV charging solutions provider Tata Power Renewable Energy Limited (TPREL) to build a charging ecosystem for its electric commercial vehicles. Under the collaboration, Tata Power Renewable Energy will bring its extensive experience in setting up and managing an expansive EV charging infrastructure at strategic locations across the country to TIVOLT dealerships, customer locations, and high-traffic public spaces, the company said in a statement. "This str ...Read More >
New Delhi, Dec 18 (PTI) Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. Also Read | Cancer Vaccine Ready for Use, Announces Russia; What Is the Cost? How Effective Is It? When Will It Be Available?. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely c ...Read More >
Mumbai, Dec 18 (PTI) Jobs and talent platform and a Quess company, foundit, on Wednesday announced the appointment of V Suresh as its Chief Executive Officer. With over two decades of experience in the internet domain, digital transformation, and the e-recruitment ecosystem, Suresh brings a wealth of strategic expertise and a forward-looking vision to foundit (formerly Monster APAC and ME), the company said in a statement. "Suresh's deep understanding of the digital talent ecosystem and proven ability to scale businesses will help us strengthen our leadership position in the market. Under hi ...Read More >
New Delhi, January 27: The Supreme Court has upheld an order passed by the apex court registry in August 2024 refusing to admit a lawyer's application seeking direction to SEBI to submit its conclusive probe report into the Adani-Hindenburg controversy. Advocate Vishal Tiwari had moved an appeal against the order passed by the Registrar on August 5 last year. Earlier on July 15, 2024, the top court had dismissed a review petition filed against its earlier verdict refusing to form any SIT or group of experts to conduct an investigation. After perusing the review petition, a bench, headed by th ...Read More >
New Delhi, Nov 28 (PTI) Coworking firm Incuspaze, which provides managed flexible office spaces to corporates, is looking to raise USD 25 million (over ₹210 crore) to expand its business across major cities before planning to launch its Initial Public Offer (IPO). Established in 2016, Incuspaze has a presence in 44 locations across 18 cities with a total portfolio of 40 lakh square feet. "We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025," Incuspaze founder and CEO Sanjay Choudhary told PTI. In view of the growing demand for flexible workspa ...Read More >
Zee Entertainment Enterprises Ltd (ZEEL) shares rose 5% on November 29 a day after shareholders rejected proposal to reappoint Punit Goenka as director. The media firm's shares rose over 5% to Rs 132.69 apiece on November 29. In a regulatory filing by the company on November 28, ZEEL said that the resolution for the reappointment of Goenka was defeated in the annual general meeting (AGM) of the company. Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.54 per cent of the total number of votes cast while 50.4 per cent voted a ...Read More >
Dhanbad/Gumla, Dec 4 (PTI) Thousands of people from various Hindu organisations on Wednesday took out rallies in Jharkhand's Dhanbad and Gumla cities in protest against the attacks on Hindus in Bangladesh and the arrest of spiritual leader Chinmoy Krishna Das. Demanding the immediate release of Das, the protesters urged the Indian government to intervene and stop the atrocities being perpetrated on minority Hindus in the neighbouring country. In Dhanbad, Hindu Rashtriya Samanvya Samiti (HRSS) organised the protest, which was attended by members of Dhanbad ISKCON, Bajrang Dal, BJP and other o ...Read More >
INDIA bloc MPs, donning black jackets with slogans like "Modi Adani Ek Hai", protested at Parliament demanding a joint probe into the Adani issue. Priyanka Gandhi Vadra accused PM Modi of evading discussion on the "Adani mega scam" while defending Adani's alleged corruption. Rahul Gandhi asserted that Modi won't investigate Adani as it would be like investigating himself.Congress leader Priyanka Gandhi Vadra Thursday said the country's people want the "Adani mega scam" to be discussed in Parliame ...Read More >
Thiruvananthapuram, Dec 17 (PTI) CPI(M) MP and former Kerala Minister K Radhakrishnan on Tuesday said that his party was against the 'one nation, one election' policy being mooted by the central government and the legislation in favour of it would be strongly opposed. Radhakrishnan said that besides the CPI(M), even the Congress would oppose the legislation trying to bring simultaneous elections in the country. He further said that even the regional parties would oppose the policy of simultaneous polls as this concept was not beneficial for them. Two bills that lay down the mechanism to hol ...Read More >
Chandigarh, Jan 2 (PTI) Punjab Chief Minister Bhagwant Mann on Thursday claimed that the Centre was trying to"bring back" the now-repealed farm laws, referring to the newly announced draft of the National Policy Framework on Agricultural Marketing. The AAP-led Punjab government has termed the newly announced draft policy as an attempt to reintroduce the three central agricultural laws passed in 2020 "through backdoor." After a yearlong protest by farmers, the Centre had repealed the laws. Speaking to reporters here, Mann also stated that the demands of the protesting farmers pertain to the c ...Read More >
New Delhi, Dec 3 (PTI) Shares of seven Adani Group firms ended in the green on Tuesday, with Adani Ports surging 6 per cent, emerging as the biggest gainer among the Sensex and Nifty firms. The stock of Adani Ports surged 6.02 per cent, Ambuja Cements soared 5.15 per cent, ACC (2.56 per cent), Adani Enterprises (2.33 per cent), Sanghi Industries (2.09 per cent), Adani Wilmar (1.19 per cent) and NDTV (0.45 per cent) on the BSE. However, shares of Adani Green Energy went lower by 1.17 per cent, Adani Power dipped 0.87 per cent, Adani Total Gas (0.83 per cent) and Adani Energy Solutions (0.60 p ...Read More >
Bhubaneswar, Dec 3 (PTI) A delegation of the Opposition BJD on Tuesday met Union Minister for Jal Shakti C R Patil and apprised him of the potential submergence of large areas in Odisha's Malkangiri district, due to construction of a multi-purpose project in neighbouring Andhra Pradesh. The delegation, led by senior leader Debi Prasad Mishra, also submitted a memorandum with the Ministry of Jal Shakti. Also Read | Pune Shocker: Bike Rider Dragged for 2 Kilometres on Bonnet of Car in Pimpri Chinchwad; 3 Booked. The regional party in its memorandum mentioned that the Polavaram project is like ...Read More >