Spencer’s Retail, the retail arm of the RP Sanjiv Goenka group, entered the quick commerce sector with JIFFY, its new online platform, on Thursday, starting with Kolkata. The operation will eventually be rolled out to other parts of West Bengal, followed by Uttar Pradesh (UP). The retailer currently has a total of 89 stores in
E-commerce giant Amazon is set to acquire Indian startup Axio, an online lending platform offering point-of-sale financing. Amazon first invested in Axio during its Series C funding round six years ago and currently holds an 8% stake in the company. “In December, after the successful completion of due diligence, we signed an agreement with Amazon
Mukesh Ambani-led and oil and gas major, Reliance Industries has declared its quarterly earnings. The company’s profit jumped 11.7% YoY to Rs 21,930 crore from Rs 19,641 crore. The big contribution came from he company’s digital services and festive demand for the retail business. Even for the Oil and gas business, it was a steady
8th Pay Commission salary revision: In a major relief for about 1.2 crore central government employees and retirees, the Modi government on January 16 announced the approval of the 8th Pay Commission. On the Union Cabinet’s nod for the next pay panel, Union Minister Ashwini Vaishnaw said that PM Narendra Modi has approved the 8th
The news about the move by the founder of the US-based short seller Hindenburg Research to disband the entity apparently has huge implications for India and especially for its regulatory institutions. “This is a very important development and will play a role in reinforcing the faith in the Indian regulatory institutions,” says Prasanna Tantri, associate
IT major Infosys Ltd on Thursday revised its FY25 revenue guidance to 4.5- 5.0 per cent in constant currency from an earlier 3.75-4.5 per cent. It, however, maintained an operating margin of 20- 22 per cent. Earlier, brokerage firms had estimated that Infosys will revise or upgrade its FY25 revenue growth guidance to 4.25–4.75 per
The attrition rate of Infosys stands at 13.7% for the last twelve months for the IT services for the reporting quarter of FY25. The company’s attrition rate was 12.9% in the previous quarter of the same fiscal year. Similarly, it was standing at 12.9% in Q3 FY24. However, the total employee count stands at 323,379
By Brijesh Bhatia As the calendar flipped to 2025, fear gripped the heart of D-street, much like it does at the start of every new year. January has long been a notoriously volatile month for Indian markets, and this year is no exception. The Nifty50 has been riding a choppy wave of negative sentiment. But
The reciprocal tariff of 27% will jack up customs duties faced by Indian exporters of studded and gold jewellery in the US to 32-34%, including 5.5-7% extant tariffs. Diamond products which currently do not have any tariffs, will cost US importers a 27% import duty. Sabyasachi Ray, Executive Director of the Gems & Jewellery Export
Corporate India is gearing up for a challenging trade environment in the wake of the 27% reciprocal tariffs imposed by the US on Thursday. While the Trump administration has described the move as its moment of liberation, India Inc leaders feel there are some pain as well as some gain. From India’s perspective, key sectors
Dusit International, a leading Thai hotel and property development company, on Thursday announced plans to expand its presence in India by launching its luxury and upper-midscale brands in key emerging markets. The strategic expansion plan builds on the momentum of Dusit’s recent foray into the Indian market with the soft-opening of the contemporary and upscale
The quarterly updates of fast-moving consumer goods (FMCG) companies, which has been released so far for the January-March 2025 period (Q4FY25), present a mixed picture of the sector at a time when urban demand has remained weak. Rural demand, in contrast, has been resilient and is expected to improve in the coming months. While Marico
The stock markets did not significantly react to US President Donald Trump’s imposition of 27% reciprocal tariff on the country’s exports. While both the benchmark indices opened sharply lower, they recouped more than half of their losses. The Sensex closed at 76,295.36, down 322.08 points, or 0.42%, while the Nifty fell by 82.25 points, or
