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.
Lucknow, Feb 16 (PTI) Lucknow Metro on Monday launched QR-based tickets, which can be booked from anywhere to enjoy a hassle-free metro travel experience. The QR-based ticketing system was formally inaugurated at the Hazratganj Metro Station here by Managing Director of Uttar Pradesh Metro Rail Corporation (UPMRC), Sushil Kumar. Under the new system, passengers can book QR tickets through the official Lucknow Metro mobile application - Lucknow Metro Official (available on Play Store and iOS Store), Ticket Vending Machines (TVMs), as well as ticket counters, an official statement said. Tickets booked through the official mobile app will be available in digital QR format on the passenger's mobile phone, while paper-based QR tickets can be obtained from ticket counters and designated Ticket Vending Machines, it added. Passengers travelling with QR tickets can enter and exit metro stations by scanning the QR code at Automatic Fare Collection (AFC) gates marked with yellow strips. The metro administration has installed new QR-supported ticket vending machines (TVM) at all metro stations. Each station has been provided with at least one QR-supported TVM and one QR-supported ticket counter to ensure smooth access for passengers, the statement said. QR-supported TVMs also offer UPI payment facilities. Other ticket vending machines will continue to provide token-based travel facilities as before. Speaking on the occasion, Sushil Kumar said, "The launch of the QR-based ticketing system marks an important milestone in the journey of Lucknow Metro. This advanced system is based on the concept of 'Smart Travel', under which passengers can now book tickets from anywhere and enjoy a faster, simpler, and more convenient travel experience. This initiative is also in line with the vision of 'Digital India', where services are just 'one tap away', and digital platforms are bringing convenience closer to the common public." He further added, "In line with the 'One Nation, One Card' vision, the National Common Mobility Card (NCMC) facility will soon be introduced in Lucknow in the next phase, following the model adopted in Kanpur and Agra. This will enable passengers to travel seamlessly across metro systems in the country where the NCMC facility is available." PTI ABN ABN MPL MPL
Air India launched a Black Friday Sale with discounts up to 20% on domestic flights and up to 12% on international flights to various destinations. The sale is available through the airline's website and mobile apps. Additional savings are possible with waived convenience fees and specific payment methods. The airline continues offering student and senior citizen discounts.Air India on Friday launched a limited-time Black Friday Sale offering discounts of up to 20 per cent off base fares for domestic flights within India. The Tata-owned airlines will also offer up to 12 per cent off base fares ...Read More >
Air India is also offering additional discounts through various payment offers, so you can enjoy even more savings. Air India has launched its limited-time Black Friday Sale, offering up to 20 percent off base fares for domestic flights and up to 12 percent off on international flights to destinations like the United States, Europe (including the UK), Australia, Southeast Asia, and South Asia. The sale is available exclusively on Air India's official website and mobile apps for iOS and Android. The sale runs from 00:01 IST on 29 November 2024 to 23:59 IST on 2 December 2024. The travel peri ...Read More >
New Delhi, Dec 12 (PTI) The Rs 8,000 crore initial share sale of supermarket chain Vishal Mega Mart got fully subscribed on the second day of bidding on Thursday, ending with 1.53 times subscription. The three-day initial public offer (IPO) got bids for 1,15,74,96,150 shares against 75,67,56,757 shares on offer, according to data available with the NSE. The portion for non-institutional investors attracted 3.80 times subscription while the share of Retail Individual Investors (RIIs) got subscribed 1.16 times. The category for Qualified Institutional Buyers (QIBs) received 48 per cent subscri ...Read More >
Kolkata: Trial runs for Kolkata's first airport-metro link may begin on Monday, Dec 16, sources said. Metro Railway, which is implementing the city's Yellow line, including the first 7 km phase between Noapara and Jai Hind (airport) stations, is chasing a March 2025 deadline to commission the stretch. Before the official trials start on Monday, some pre-trial runs may be conducted on Saturday to ensure that the formal launch of the train run on Monday is glitch-free. "We might take the rake from ...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, Dec 4 (PTI) Axis Securities on Wednesday settled a case involving front-running trades by Vikrant Bhimrao Kadam, who worked as its dealer, and his friend, after paying Rs 14.62 lakh towards settlement amount to Sebi. It was alleged that as a stock broker, Axis Securities failed to exercise appropriate due diligence in the matter in its dealer and branch manager compliance policy. Also Read | Latest Government Jobs Notifications: Apply for 98 Court Officer, Assistant and Other Posts of NCLT Recruitment 2024; Know Salary and Other Details Here. The order came after Axis Securities ...Read More >
Speaking at IIT Bombay's Techfest 2024, Mr Adani, the 27-year old younger son of infrastructure magnate Gautam Adani, said the future of technology is both scary and exciting. India cannot stay out of global technological race, said Jeet Adani. Mumbai: India cannot stay out of global technological race and should build capabilities that will keep it at the top while remaining vigilant against its misuse, said Jeet Adani, Director, Adani Airport Holdings Ltd. Speaking at IIT Bombay's Techfest ...Read More >
Kanpur (UP), May 28 (PTI) Prime Minister Narendra Modi will lay the foundation stone and inaugurate multiple development projects worth about Rs 20,900 crore here on Friday to boost the region's infrastructure and connectivity, an official statement issued here said. He will launch Chunniganj Metro Station to Kanpur Central Metro Station section of the Kanpur Metro Rail Project worth more than Rs 2,120 crore. It will include 14 planned stations with five new underground stations integrating key city landmarks and commercial hubs into the metro network. Besides, he will also inaugurate road-w ...Read More >
Bengaluru, November 27, 2024: SuperGaming's highly anticipated Indo-futuristic Battle Royale game, Indus, has achieved a significant milestone, surpassing 5 million downloads on the Google Play Store and over 100,000 installs on the iOS App Store. This remarkable feat solidifies its position as one of India's fastest-growing games. The title has also been recognized as the Best Made in India Game by Google Play in their prestigious Best of 2024 awards. Indus has captivated players with its distinctive Indo-futuristic world setting that seamlessly blends Indian culture with futuristic aestheti ...Read More >
NEW DELHI: An Enforcement Directorate team undertaking searches in a cyber fraud linked money laundering case was allegedly attacked here on Thursday, officials said. The agency has registered a police FIR about the incident that took place at a farmhouse that was raided by ED officials in the Bijwasan area of southwest Delhi that falls under the Kapashera police station. An Enforcement Officer (EO) suffered minor injuries during the attack. He is continuing with the searches after he was given first aid, officials said. The probe pertains to a case against the PYYPL app. The alleged accus ...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 >
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 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 >
Bengaluru, Dec 12 (PTI) Ride-hailing app Uber on Thursday launched 'Uber Moto Women,' a first-of-its-kind service in Bengaluru offering women-only bike rides, the company said. In a statement, Uber said that this on-demand two-wheeler service connects female riders with female drivers and is designed to address women's safety and mobility needs while "empowering female drivers with flexible earning opportunities". "Developed based on feedback from women riders and drivers, Uber Moto Women offers a safe, affordable, and convenient commute option for women who prefer to ride with female driver ...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 >
New Delhi: In a major strategic step, the Noel Tata-led Tata CLiQ has decided to rebrand the brand as Tata CLiQ Fashion. The move is seen as the company's idea to align with its "fashion-forward approach." Tata CLiQ is the e-commerce arm of the Tata Group. The rebranding marks the company's shift from being a horizontal marketplace to a specialized vertical platform focusing on fashion and lifestyle. The Tata CLiQ Fashion has unveiled a complete visual redesign, featuring a fresh logo, revamped packaging, and updated user experiences on both its app and website. According to a Hindu Businessl ...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, Jan 27 (PTI) LT Foods, a leading player in the basmati and speciality rice segment, on Monday posted 4.75 per cent drop in consolidated net profit at Rs 145.38 crore on higher expenses. The company had logged a net profit of Rs 152.64 crore in the year-ago period. Total income rose to Rs 2,288.25 crore from Rs 1,949.68 crore in the corresponding period of the previous year, according to a regulatory filing. Expenses rose to Rs 2,094.42 crore from Rs 1,757.67 crore. The Board reappointed Ashwani Kumar Arora and Surinder Kumar Arora as Managing Directors of the company, subject to ...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 >
Bengaluru, December 11: Flipkart-subsidiary Myntra was recently cheated by fraudsters who allegedly stole over one crores rupees this year during March and June. The scammers attacked the e-commerce company by exploiting some loopholes related to the Myntra policy and looted the money. The firm reported a loss of INR 1.1 crore in Bengaluru and INR 50 crore nationwide as the scammers abused the complaints and refund options. According to the reports, the crooks who ran the Myntra refund scam were traced back to Jaipur, Rajasthan. Most of them ordered expensive products online, such as branded ...Read More >
New Delhi, Dec 17 (PTI) Drug firm Granules India on Tuesday said its subsidiary has received approval from the US health regulator for a generic medication used to treat attention-deficit hyperactivity disorder. Granules Pharmaceuticals, Inc (GPI) has received approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Lisdexamfetamine Dimesylate chewable tablets, the drug firm said in a statement. The approved drug is available in multiple strengths; 10 mg, 20 mg, 30 mg, 40 mg, 50 mg, and 60 mg, it added. The company's product is the generic ...Read More >
New Delhi, May 26 (PTI) Zepto Co-Founder and CEO Aadit Palicha has accused the chief financial officer of a competing company of orchestrating a smear campaign against his quick commerce platform. In a LinkedIn post on late Sunday, Palicha, not taking names, alleged that the CFO of one of Zepto's competitor firms has been reaching out to Zepto's investors with unsubstantiated claims, distributing false financial data to journalists, and employing bots to spread negative narratives about Zepto on social media. "Over the past few days, the CFO of one of our competitors has been trying to build ...Read More >
Union Education Minister Dharmendra Pradhan launched the TeacherApp, a digital platform designed to equip educators with future-ready skills and enhance the learning experience for students. Developed by Bharti Airtel Foundation, the app offers teachers access to a wide range of resources and best practices from around the world. The TeacherApp is available for free across the Web, iOS, and Android platforms and features over 260 hours of high-quality content. This includes created and curated courses, learning bytes, short videos, podcasts, interactive webinars, thematic fests, competitions, ...Read More >
Passengers who previously paid Rs 5 for the minimum 2 km journey will now pay Rs 15, while those travelling the entire route between New Garia and Dum Dum will pay Rs 35 instead of Rs 25 Passengers taking the Kolkata Metro after 10:40 pm will face an additional fare starting December 10, with a surcharge of Rs 10 being added to all tickets. This change applies across the Dum Dum-New Garia section of the North-South Corridor, where the 'night special' service has been operational since May 24, 2024. Due to low ridership, the last train's timing was adjusted by 20 minutes on June 24, 2024. A K ...Read More >
Cloud-based testing platform LambdaTest has secured $38 million in a funding round led by Avataar Ventures, with Qualcomm Ventures also participating. The fresh funding comes after a gap of more than 30 months for the Noida and San Francisco-based startup. This latest round brings the company's total funding to $108 million, including a $45 million round in March 2022. Its early backers include Premji Invest, Peak XV, Telstra Ventures, Blume Ventures, and Leo Capital. LambdaTest was part of the ...Read More >