The rupee on Thursday ended flay after hitting a lifetime low of 85.94 against a dollar during intra-day trade. The rupee continued with its downward trajectory as the dollar index maintained an upward momentum as minutes of US Fed’s December 17-18 meeting showed that it is expected to dial back the pace of interest rate
Dunzo co-founder Kabeer Biswas has informally agreed to join Flipkart to head its quick-commerce vertical Minutes, according to sources aware of the matter. However, Biswas, who holds a 3.39% stake in Dunzo, remains tied to the company he founded in 2014 by necessity, as corporate law requires a minimum of two directors, preventing his departure
The National Restaurant Association of India (NRAI) on Thursday voiced strong opposition to food delivery giants Zomato and Swiggy entering private-label food delivery through their quick-commerce platforms. The industry body, representing over five lakh restaurants in India, argued that this move violates marketplace neutrality and undermines fair competition, posing a significant threat to the survival
Many major banks, including State Bank and PNB, have either revised their fixed deposit (FD) rates or launched new products for super senior citizens (those aged 80 years and above) recently. Usually, banks offer super senior citizens 25 to 75 basis points (bps) higher than the regular rate offered to the general public. Here’s a
Tata Elxsi Ltd on Thursday announced its fiscal third quarter results with profit at Rs 199.01 crore, posting a drop of 3.59 per cent in comparison to Rs 206.43 crore recorded during the same quarter of previous financial year. It posted revenue from operations at Rs 939.17 crore, up 2.73 per cent as against Rs
Tata Consultancy Services’ attrition rate for the last twelve months stands at 13% for the quarter under review. The IT giant’s headcount shrank by 5,370 in Q3 FY25 standing at 607,354. The company’s attrition rate was 12.3% in the previous quarter of the same financial year with a total workforce of 612,724. “We continue to
Indian equity markets fell on Thursday, January 09. The BSE Sensex dropped as much as 0.77% to 77,542.92 level while the NSE compiled Nifty 50 slipped 0.78% to an intra-day low level of 23,503, testing one of the important support levels. The Nifty 50 closed the session 0.69% lower at 23,526.50. The Sensex dropped 0.68%
By Indra Chourasia and Natarajan R The Securities and Exchange Board of India (SEBI) has been considering a reframing of ownership and economic structure of clearing corporations (CCs) in the equities markets to diversify their ownership. Currently, these CCs operate as 100% owned subsidiaries of their parent exchanges. Given the vital risk management role played
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
OnEMI Technology, the parent company of digital lending platform Kissht, has grown its assets under management (AUM) by 55% in the financial year 2024-25, to more than Rs 4,200 crore, founder and executive director, Krishnan Vishwanathan, said. In FY24, their AUM had doubled to Rs 2,700 crore. He added that while the overall unsecured loan
