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Mumbai: JSW Paints has agreed to acquire Akzo Nobel's India business, valuing the company at Rs 12,000 crore (approximately $1.1 billion). This will make the paint-maker the fourth-largest in the now highly competitive domestic paints market. Ending months of negotiations, JSW has agreed to pick up 74.76% stake in the Akzo Nobel India for Rs 8,986 crore, an over 17% discount to Thursday's price. ET in its May 26th edition was the first to report that JSW had agreed for the billion dollar acquis ...Read More >
The IEA reports weakened investment momentum in critical minerals in 2024, despite strong demand expectations. Exploration plateaued, and funding for startups slowed. Refined material production concentrated among top suppliers like Indonesia and China, increasing geographic concentration. Surging supply, particularly from these nations, drove down prices for battery metals, with lithium prices plummeting over 80% since 2023.Investment decisions in the global critical mineral sector face signifi ...Read More >
With the electric 2- and 3-wheeler, passenger and commercial vehicle segments registering robust sales and high double-digit YoY growth, highest-ever retail sales in May improve upon April 2025's 169,003 units and set the foundation for a fiscal which promises to achieve the 2-million milestone for the first time. But a spoiler looms ahead in the form of disrupted supplies of rare earth magnets from China, which could hamper production and impact sales later this year. In a significant developm ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): Commodity exchange MCX has received approval from the markets regulator SEBI to launch electricity derivatives. "This development underscores the strong commitment and support of the Regulators - SEBI and Central Electricity Regulatory Commission (CERC) - in enabling a dynamic and sustainable power market," MCX said in a statement Friday, announcing the development. Also Read | Bhagyashree's Husband Himalay Dassani Finally Goes Down on One Knee To Pr ...Read More >
BENGALURU, June 5 (Reuters) - In a major expansion of their partnership, Apple has entrusted India's Tata Group with handling after-sales repairs for iPhones and MacBooks in the rapidly growing Indian market. This move further cements Tata's rising stature as a key player in Apple's global supply chain, according to two people familiar with the development. The decision is part of Apple's broader push to reduce its manufacturing dependency on China and strengthen its foothold in India, the worl ...Read More >
Mumbai, May 21: Torrent Pharmaceuticals on Wednesday reported a 0.99 per cent quarter-on-quarter (QoQ) decline in its net profit for the fourth quarter (Q4) of FY25, with earnings dropping to Rs 498 crore from Rs 503 crore in the previous quarter (Q3 FY25). The homegrown pharma company's total expenses climbed to Rs 2,252 crore, an increase of nearly 4.70 per cent on sequential basis and 4.99 per cent year-on-year (YoY). The rise was driven by higher costs across key segments. The cost of mater ...Read More >
New Delhi, Feb 7 (PTI) Ola Electric Mobility Ltd on Friday reported a widening of consolidated net loss at Rs 564 crore in the third quarter ended December 31, 2024 impacted by lower revenue due to enhanced competition and one-off cost to address service issues. The company had posted a net loss of Rs 376 crore in the third quarter last fiscal, Ola Electric Mobility Ltd said in a regulatory filing. Revenue from operations in the third quarter stood at Rs 1,045 crore as compared to Rs 1,296 cro ...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 Avail ...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. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely clear about promoting the ins ...Read More >
NEW DELHI : Amazon is taking the fight to India's quick commerce startups. Starting this December, the e-commerce giant will roll out 15-minute delivery in Bengaluru, targeting top-selling items like groceries and daily essentials. The move marks Amazon's response to growing competition from ultra-fast delivery players, a segment reshaping consumer expectations in India. Read this | CCI enlists attorney general R Venkataramani to clear path for Amazon, Flipkart antitrust probes "On the speed ...Read More >
New Delhi, Dec 3 (PTI) Third-party logistics provider Shadowfax Technologies on Tuesday said it has recorded an adjusted PAT (profit after tax) of Rs 2 crore in FY24, against a loss of Rs 123.8 crore in the preceding fiscal. Adjusted PAT includes costs related to Employee Stock Ownership Plans (ESOPs). Also Read | What Is 'Tankhah', Religious Punishment Given to Sukhbir Singh Badal by Akal Takht in 2015 Sacrilege Case?. Revenue grew 33 per cent from Rs 1,415 crore in FY23 to Rs 1,885 crore in ...Read More >
New Delhi, Dec 3 (PTI) Third-party logistics provider Shadowfax Technologies on Tuesday said it has recorded an adjusted PAT (profit after tax) of Rs 2 crore in FY24, against a loss of Rs 123.8 crore in the preceding fiscal. Adjusted PAT includes costs related to Employee Stock Ownership Plans (ESOPs). Revenue grew 33 per cent from Rs 1,415 crore in FY23 to Rs 1,885 crore in FY24, according to a company statement. The Bengaluru-headquartered firm said it has "significantly diversified" its re ...Read More >
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 dom ...Read More >
With India's gig economy projected to double in size, reaching over 10 million workers in the coming years, Ola Electric unveiled its new line of budget-friendly e-scooters, starting at under Rs 40,000. Photograph: Courtesy, Ola Electric The market responded positively, with Ola Electric's stock rising by 5.67 per cent, closing at Rs 73.47 on the BSE. The new range includes the Ola Gig, priced at Rs 39,999, specifically designed for gig workers making shorter trips. The S1 Z series starts at ...Read More >
With India's gig economy projected to double in size, reaching over 10 million workers in the coming years, Ola Electric unveiled its new line of budget-friendly e-scooters, starting at under Rs 40,000. Photograph: Courtesy, Ola Electric The market responded positively, with Ola Electric's stock rising by 5.67 per cent, closing at Rs 73.47 on the BSE. The new range includes the Ola Gig, priced at Rs 39,999, specifically designed for gig workers making shorter trips. The S1 Z series starts at ...Read More >
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