After rising 2.3% in the first two days of the calendar year, investors resorted to profit-booking on Friday, leading to a decline of up to 0.90% in the benchmark indices. However, the indices managed to close the week with gains of up to 0.80%, marking the second consecutive weekly rise. The Sensex opened over 129
Standard Glass Lining IPO: Standard Glass Lining Technology has successfully mobilized Rs 123 crore from anchor investors in preparation for its initial public offering (IPO), which is set to open for public subscription on January 6, 2025. The company announced that it has allotted 87.86 lakh shares to 10 entities at Rs 140 per share
FMCG major Hindustan Unilever is understood to be in talks to acquire direct-to-consumer beauty startup Minimalist in a deal valued at about Rs 3,000 crore or $350 million. That’s well above Minimalists’ last known valuation of around $75 million. HUL’s investment arm Unilever Ventures invested in Minimalist’s Series A round in 2021 and holds a
Food delivery platforms Zomato and Swiggy are likely to continue charging customers the increased platform fee of Rs 10 per order even after the festive season ends, sources aware of the matter told FE. The platforms had raised their fees to Rs 10 in October 2024, citing increased demand during the festive period. The fee
The Securities and Exchange Board of India (Sebi) has issued an administrative warning to JM Financial for regulatory non-compliance. According to a regulatory filing by JM Financial, the warning was issued on January 2, 2025, in relation to the initial public offering (IPO) of equity shares by one of its clients, Western Carrier (India) Ltd.
With the rupee touching yet another low of 85.81 a dollar, before settling at 85.78 on Thursday, forward premium rates have increased to multi-year highs. Driven by huge liquidity deficit in the banking system and increase in hedging bets by importers, the one-month dollar/rupee forward premium rose to 3.30%, the highest since March 2022. The
Shares of City Gas Distribution (CGD) companies including Indraprastha Gas, Mahanagar Gas and Gujarat Gas rallied up to 6% on Friday, recovering from day’s low levels after the oil ministry has slashed allocation of natural gas used for LPG production and diverted it to city gas retailers to meet a part of their requirement for
The Employees’ Provident Fund Organisation (EPFO) has fully rolled out the new Centralized Pension Payments System (CPPS) under Employees’ Pension Scheme, 1995, the Labour Ministry said in a statement on January 3. The first pilot of Centralized Pension Payment System (CPPS) was successfully completed in October, 2024 in Karnal, Jammu and Srinagar Regional Offices with
EPFO Update: Private sector employees covered under the EPFO have long been demanding an increase in their minimum pension, which is currently fixed at Rs 1,000 per month. Adding to their 7–8-year struggle to present their case to the government, a delegation of EPS-95 pensioners met Finance Minister Nirmala Sitharaman on January 10 to push
RIL, Jio Q3 Earnings Announcement Key Dates, Where to Watch Live Streaming: Mukesh Ambani led-Reliance Industries Ltd (RIL) will announce its fiscal third quarter earnings next week on January 16 (Thursday). The conglomerate will hold its board meeting to consider and approve the standalone and consolidated financial results for the third quarter of FY25 and
Indore-based TaskUs, a leading BPO and digital transformation services provider, abruptly fired over 300 employees without prior notice, sparking widespread outrage. A video of distressed employees addressing the company staff has gone viral on social media. In the video, employees accuse company representatives of mistreating them and even laughing while delivering the layoff news, further
Larsen & Toubro chairman SN Subrahmanyan’s comments on a 90-hour working week have sparked outrage with a host of his peers in corporate India criticising the idea of working inordinately long hours. CEOs took to Twitter and television on Friday to express their reservations on the remarks by Subrahmanyan, who has exhorted L&T employees to
With 400 million people in attendance, and manifold eyeballs on it, the Maha Kumbh is gargantuan not only in human presence, but in business opportunity as well. The figure is Rs 2 lakh crore to be precise, put forth by Uttar Pradesh chief minister Yogi Adityanath on Wednesday. This makes the event a pitching ground
