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.
Mumbai, March 31: Jubilant FoodWorks Limited (JFL) has announced its decision not to renew its master franchise agreement for the Dunkin' brand in India, marking the end of a 15-year partnership. In a regulatory filing, the company stated that the Multiple Unit Development Franchise Agreement (MUDFA), originally signed in February 2011, will officially expire on December 31, 2026. The move signals a strategic shift for India's largest food service company as it moves to restructure its diverse brand portfolio. Following the board's approval for non-renewal, JFL will begin a phased restructuring of its existing Dunkin' operations. This transition may include the rationalisation or closure of certain stores, the sale of assets, or the transfer of franchise rights. The company emphasized that all next steps will be carried out in consultation with the Dunkin' brand owners and in accordance with applicable regulatory requirements. OnePlus Reportedly Shuttering Retail Stores in India As Global Shutdown Looms. JFL has outlined a gradual process for the brand's exit, ensuring that operations are not halted abruptly. The company noted that it will evaluate its current footprint to decide on the cessation of specific outlets versus the assignment of franchise rights to potential new partners. This approach is intended to manage contractual obligations while minimising disruption to the existing infrastructure. While the filing did not provide a specific timeline for individual store closures, the wind-down is expected to conclude by the end of the 2026 calendar year. The transition reflects the challenges faced by the brand in the highly competitive Indian quick-service restaurant (QSR) and coffee retail segment, where it has vied for market share against both domestic chains and established international rivals. The partnership with Dunkin' began in 2011 as part of JFL's broader strategy to expand beyond its core pizza business. At the time, the entry of the American coffee and doughnut chain was seen as a major move to capture the growing morning and all-day snacking market in urban India. Over the years, the brand underwent several repositioning efforts, shifting focus from doughnuts to a more coffee-and-sandwich-centric menu to suit local tastes. Despite these efforts, Dunkin' remained a smaller component of JFL's vast empire. The company currently operates over 3,500 stores across six markets, including Turkey, Sri Lanka, and Bangladesh. Its portfolio is led by the dominant Domino's Pizza brand and includes newer international additions like Popeyes, alongside home-grown brands such as Hong's Kitchen. The decision to exit the Dunkin' franchise comes at a time when the Indian specialty coffee and QSR market is witnessing a surge in new entrants and aggressive expansion by existing players. Industry analysts suggest that JFL may be looking to reallocate capital and management focus toward its high-growth segments, particularly Popeyes and its private-label brands like COFFY. JFL's exit from the Dunkin' agreement does not necessarily mean the brand will disappear from the Indian market permanently. The "assignment of franchise rights" mentioned in the regulatory filing suggests that the brand owners may seek a new master franchisee to take over the Indian operations after December 2026. Jubilant FoodWorks has assured stakeholders that the entire transition process will adhere to the terms of the MUDFA and all relevant Indian laws. The company stated that it will maintain transparency regarding asset transfers and employee transitions as the phased restructuring progresses over the next 21 months. Ross Nordeen Exits xAI: One of Last Remaining Co-Founder Leaves As Elon Musk Initiates Full Rebuilding of AI Startup Ahead of SpaceX IPO. For now, Dunkin' outlets will continue to operate as usual, with the company focusing on a smooth handover or closure process as the contract end-date approaches. Investors will likely monitor JFL's upcoming quarterly earnings for further clarity on the financial impact of this restructuring and the planned deployment of capital into its remaining core brands.
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 >
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
New Delhi [India], July 2 (ANI): Foreign Secretary Vikram Misri visited the Republic of Mauritius on Tuesday where he called on Mauritus Prime Minister Navinchandra Ramgoolam and reaffirmed the continued commitment to deepen the multi-dimensional bilateral partnership. The visit followed the telephone conversation between Prime Minister Narendra Modi and the Prime Minister of Mauritius, Navinchandra Ramgoolam, on June 24, during which the two leaders discussed the ongoing cooperation across a broad range of areas and reaffirmed their shared commitment to further strengthen the Enhanced Strate ...Read More >
New Delhi, Jul 2 (PTI) The initial public offer of student recruitment solutions provider Crizac Ltd got subscribed 46 per cent on the first day of bidding on Wednesday. The initial share sale received bids for 1,17,61,654 shares against 2,58,36,909 shares on offer, as per NSE data. The category for non-institutional investors fetched 62 per cent subscription while the quota for Retail Individual Investors (RIIs) got subscribed 59 per cent. The Qualified Institutional Buyers (QIBs) portion received 9 per cent subscription. Crizac on Tuesday said it has garnered Rs 258 crore from anchor inve ...Read More >
New Delhi: Indian-origin Vaibhav Taneja, Tesla's Chief Financial Officer, has emerged as a key figure in Elon Musk's newly announced political venture, the America Party (AMEP). Tesla owner Elon Musk on Sunday announced a new political party called the 'America Party'. In the official filing of this party, Musk named Vaibhav Taneja as the Custodian of Records and Treasurer. According to a report by The Wall Street Journal, Vaibhav Taneja, Tesla's Chief Financial Officer (CFO), has earned a staggering USD 139 million in total compensation in 2024 -- making it the highest in the world for any CF ...Read More >
New Delhi, Dec 31 (IANS) The year 2024 has been historic for Indian startups as the government abolished the angel tax (a tax levied on investing in startups), which improved Indian startups' funding and enabled them to raise more than $12 billion. Along with this, food delivery company Zomato managed to make its place in the Sensex, the index of top companies in the country. Indian startup companies crossed the magical figure of getting $150 billion in funding in 2024. Between 2014 and 2024, new-age tech companies raised more than $151 billion in funding. Startups raised the highest funding ...Read More >
New Delhi, Jul 15 (PTI) India's Global Capability Centres (GCCs) saw a rise in hiring volumes by 8-10 per cent in the first quarter of FY26, compared to a subdued fourth quarter of FY25, which saw a decline of 3-6 per cent, reflecting a return to strategic, skill-focused recruitment practices. The sector is deliberately moving away from volume hiring, focusing instead on securing high-value talent in AI, platform engineering, and cybersecurity, exacerbating critical skill shortages across the country, according to a report by staffing and workforce solutions provider Quess Corp. "Q1FY26 mark ...Read More >
New Delhi, Jun 26 (PTI) The initial public offer of Indogulf Cropsciences Ltd was subscribed by 40 per cent on the first day of bidding on Thursday. The initial share sale received bids for 53,77,320 shares, as against 1,33,65,710 shares on offer, as per NSE data. Also Read | Is June 27 Public Holiday in Odisha for Jagannath Puri Rath Yatra? Will Schools and Banks Remain Open or Closed? All You Need To Know. The category for Retail Individual Investors (RIIs) received 69 per cent subscription, while the quota for non-institutional investors got subscribed by 27 per cent. The Qualified Insti ...Read More >
June 30 (Reuters) - Futures tracking the S&P 500 and Nasdaq touched record highs on Monday, as optimism over U.S. trade negotiations with its key partners helped support upward momentum in markets. Shares of technology heavyweights rose premarket after Canada scrapped its digital services tax targeting U.S. tech firms, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States. Shares of Amazon (AMZN.O), opens new tab, Meta Platforms (META ...Read More >
Hyderabad, Jun 27 (PTI) Brihaspathi Technologies Limited a city-based AI surveillance and security solutions provider on Thursday said it gearing up for an Initial Public Offering (IPO) in the next financial year and the proceeds from it will be utilised to strengthen its research and development (R&D) capabilities, and expand manufacturing capacity. The firm has successfully raised USD 10 million in funding from foreign institutional investors and others and the capital infusion will fuel the company's expansion efforts, including the establishment of a new 72,000 sq ft CCTV manufacturing fa ...Read More >
New Delhi, Jul 2 (PTI) Tata Steel is confident of completing its transition to green steel manufacturing in the UK and Netherlands as per schedule, the company's Chairman N Chandrasekaran said on Wednesday. He made the remarks while addressing the shareholders at the company's 118th Annual General Meeting (AGM). Also Read | Iran's President Masoud Pezeshkian Approves Law to Suspend Cooperation With IAEA Following Israel, US Strikes. "...we remain confident that the transition to green steel making in the UK and the Netherlands will happen as per our plans, in the next few years," Chandrasek ...Read More >
New Delhi: Linda Yaccarino has stepped down as CEO of X, the platform formerly known as Twitter, after completing two years at the top post. Yaccarino confirmed her resignation on Wednesday, posting a message highlighting her time at the company and signalling confidence in the company's next phase under Elon Musk's leadership. "The best is yet to come as X enters a new chapter with xAI," Yaccarino said, referring to Musk's artificial intelligence company that recently rolled out its chatbot Grok. Yaccarino, a veteran advertising executive, was hired by Musk in May 2023, months after he acqu ...Read More >
Mumbai, July 12: Elon Musk's X (formerly Twitter) has reduced its subscription plan costs in India. The Indian users are now offered up to 48% price cuts in the X subscription plans. The paid X plans offer more features and benefits than the free version. With the price cuts, the Indian X subscribers can benefit by paying less. The X platform has reduced the monthly and annual fees, offering an ad-free experience, Grok access, and the ability to post long-form messages and articles. The X Premium plan, which has been the ideal choice for many users, is now available at a starting price of INR ...Read More >
New Delhi, Jun 27 (PTI) The initial public offer of Sambhv Steel Tubes Ltd got subscribed 28.46 times on the closing day of bidding on Friday. The three-day initial share sale received bids for 140,02,39,022 shares against 4,92,06,100 shares on offer, according to NSE data. Qualified Institutional Buyers (QIBs) portion received 62.32 times subscription while the category for non-institutional investors fetched 31.82 times subscription. Retail Individual Investors (RIIs) part got subscribed 7.99 times. Sambhv Steel Tubes has raised Rs 161.25 crore from anchor investors. The price band for t ...Read More >
'As humans, we haven't changed much' IMAGE: India's first man in space, Rakesh Sharma, reflects on his journey and India's future in space travel. Photograph: Courtesy Ministry of Defence Astronaut Rakesh Sharma, the first Indian to journey into space in 1984, says space travel alters the mindset of humans and makes them see the world from a perspective that "this planet belongs to everyone" and not a sole preserve of anyone. He shared his thoughts in a recorded podcast shared by the Ministry ...Read More >
New Delhi, Jun 29 (PTI) Cloud kitchens operator Curefoods India on Sunday filed preliminary papers with markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issuance of shares worth Rs 800 crore, and an offer-for-sale of 4.85 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). As part of the OFS, Curefit Healthcare, Iron Pillar PCC, Crimson Winter, Accel India V, Chiratae Ventures India Fund IV, Global eCommerce Consolidation Fund and Alteria Capital Fund ...Read More >
Manipur Starlink: The forensic reports are being tallied by the state and the Centre A Starlink dish and router recovered by the security forces from insurgents in Manipur are non-functional and incompatible in the state bordering Myanmar, sources in the central intelligence agencies have said based on their investigation. "The devices had definitive markings of Starlink, but when we got it examined, we came to know that it is not compatible in this region," a senior officer told NDTV, requesting anonymity. The army handed over the device to the Department of Telecommunications and the Mini ...Read More >
Mumbai, June 29 (SocialNews.XYZ) It was a belligerent, brilliant, and breathtaking performance from the Chennai Bulls, who were crowned the first ever champions of the Rugby Premier League, here in Mumbai, at the Shahaji Raje Bhosale Sports Complex. The Chennai Bulls thrashed the Delhi Redz by a scoreline of 41-0 in the final, to clinch the title. In fact, the margin of victory is the biggest across Season 1 of the GMR RPL. Meanwhile, the Hyderabad Heroes, who had finished top of the table in the league stage, came away with a third-place finish, after they won 17-12 against the Bengaluru Bra ...Read More >
Amaravati: Andhra Pradesh IT and Human Resources Development Minister Nara Lokesh on Friday hailed the successful implementation of the state-wide 'Mega Parent-Teacher Meeting (PTM) 2.0' programme. Expressing gratitude to all stakeholders, he credited the collective efforts of government and private schools, colleges, education officials, staff, headmasters, teachers, students, parents, donors, alumni, public representatives, and officers from various departments for making the event a success. ...Read More >
New Delhi, Jan 2 (PTI) The initial public offer of Indo Farm Equipment garnered a whopping 227.57 times subscription on the closing day of bidding on Thursday. The Rs 260-crore initial share sale received bids for 1,92,75,49,293 shares against 84,70,000 shares on offer, according to NSE data. The portion for non-institutional investors fetched a mammoth 501.65 times subscription. The quota for Qualified Institutional Buyers (QIBs) received 242.40 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 101.64 times. The IPO of Indo Farm Equipment got subsc ...Read More >
New Delhi, Jun 26 (PTI) The Rs 852-crore initial public offer of Ellenbarrie Industrial Gases Ltd attracted 22.19 times subscription on the last day of bidding on Thursday. The three-day IPO received bids for 33,52,79,311 shares, as against 1,51,08,983 shares on offer, as per NSE data. Qualified Institutional Buyers (QIBs) quota received 64.23 times subscription, while the category for non-institutional investors got subscribed 15.21 times. The portion for Retail Individual Investors (RIIs) fetched 2.14 times subscription. Ellenbarrie Industrial Gases has raised Rs 256 crore from anchor inv ...Read More >
New Delhi, Jun 26 (PTI) The initial public offering of real estate developer Kalpataru Ltd garnered 2.26 times subscription on the closing day of bidding on Thursday. The IPO received bids for 5,15,74,140 shares, as against 2,28,26,516 shares on offer, according to NSE data. The Qualified Institutional Buyers (QIBs) category received 3.12 times subscription, while the portion for non-institutional investors got subscribed 1.31 times. The Retail Individual Investors (RIIs) part received 1.29 times subscription. Kalpataru Ltd on Monday said it has garnered Rs 708 crore from anchor investors. ...Read More >
Mumbai (Maharashtra) [India], June 28: Cedaar Textile Limited has successfully completed its anchor book allocation, raising ₹9.52 crore ahead of its upcoming Initial Public Offering (IPO). The anchor book received an enthusiastic response from marquee institutional investors, underscoring strong market confidence in the company's fundamentals and future outlook. Also Read | Elon Musk Responds to Question on Jobs Cannot Be Automated by AI, Says 'There Will Be a Premium for Human Experiences'. A total of 6.8 lakh equity shares were allocated to esteemed anchor institutions at the upper end of ...Read More >
New York/Hyderabad, July 6 (Maxim News): In a bold political move, Tesla and SpaceX CEO Elon Musk has announced the formation of a new political party in the United States, named the "America Party." The tech billionaire unveiled the initiative on Saturday through a post on X (formerly Twitter), positioning it as a direct challenge to the traditional two-party dominance in American politics Here To Join Us On WhatsApp "America is being bankrupted by bipartisan waste and corruption. This is not democracy -- it's a one-party system in disguise," Musk stated. "The America Party is formed to giv ...Read More >
Elon Musk has announced plans to revolutionize the gaming industry by launching an AI-driven game studio under xAI. In a series of posts on X, Musk, a passionate gamer, criticized the current state of game development, highlighting the influence of large corporations and ideological biases. He pledged to "make games great again" through innovative applications of artificial intelligence. While many gamers have welcomed this move, excited by the idea of independent game development, critics question Musk's lack of experience in managing a game studio. The announcement has sparked widespread deb ...Read More >
New Delhi: In a move that has sent shockwaves through the American political landscape, Elon Musk, the billionaire CEO of Tesla and SpaceX, has ignited a heated national debate by floating the idea of creating a new political party aimed at representing what he calls "the 80% in the middle." The proposal, made via a poll on X on Thursday, comes on the heels of a highly publicised feud with President Donald Trump, marking a dramatic escalation in tensions between the two former allies. Musk's post on X posed a simple yet provocative question: "Is it time to create a new political party in Ame ...Read More >
New Delhi: After the success of Sitaare Zameen Par, Aamir Khan has opened up about his upcoming collaboration with director Rajkumar Hirani for a biopic on the legendary filmmaker Dadasaheb Phalke. Following the historic success of 3 Idiots and PK, this marks the third collaboration between Aamir and Hirani. Both previous films were widely praised for their clever humor, emotional storytelling, and strong narratives hallmarks of the Aamir-Hirani combo. In a recent interview, when asked whether humor would also be a part of the Phalke biopic, Aamir said: "I think Raju and Abhijat [Joshi, wri ...Read More >
New Delhi, Jul 4 (PTI) The initial public offer of student recruitment solutions provider Crizac Ltd got subscribed 59.82 times on the closing day of bidding on Friday. The Rs 860-crore initial share sale received bids for 154,56,79,488 shares against 2,58,36,909 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) got subscribed a whopping 134.35 times while the quota for non-institutional investors fetched 76.15 times subscription. Retail Individual Investors (RIIs) part received 10.24 times subscription. Crizac on Tuesday said it has garnered Rs 258 cro ...Read More >
Sam Altman Cochairs Transition Team for San Francisco Mayor-elect Daniel Lurie Sam Altman, cofounder and CEO of OpenAI, has been appointed cochair of the transition team for San Francisco's mayor-elect, Daniel Lurie. Altman will assist Lurie in addressing key issues such as public safety, housing, and the city's behavioral health crisis. Lurie, who defeated incumbent mayor London Breed, received support from Silicon Valley figures, including Altman. Lurie emphasized making San Francisco a hub for AI innovation. Altman’s involvement highlights the growing influence of tech leaders in politic ...Read More >
Tech mogul Elon Musk has unveiled plans to step into the gaming industry by launching a new studio under his artificial intelligence company, xAI. The announcement, shared via X (formerly Twitter), marks Musk's latest effort to expand his influence into yet another major sector, following his ventures in space, electric vehicles, and social media. Musk shared his vision on November 27, expressing dissatisfaction with the dominance of large corporations in the gaming world. "Too many game studios that are owned by massive corporations," Musk wrote, before declaring that his new studio would ai ...Read More >