Foxconn Group’s Bharat FIH, which is facing revenue decline amid a shortage of new orders, has decided to shut down a subsidiary it launched just three years ago, which focuses on R&D and supply chain initiatives. According to the company’s latest filing accessed by FE, Bharat FIH’s board of directors has approved a resolution to
Publicly-listed real estate investment trusts (REITs) have distributed a total of Rs 2,754 crore to their unitholders during the first half of the current fiscal, which was higher by 14% compared to a year ago, according to data from the Indian REITs Association (IRA). The four publicly-listed REITs are: Brookfield India Real Estate Trust, Embassy
While two successive cuts in allocation of cheaper APM gas to city gas distribution companies (CGD) have caused their stocks to fall steeply, analysts expect another price hike for compressed natural gas (CNG) for these firms to sustain their margins. State-owned GAIL India, the nodal agency for domestic gas allocation, has decided to cut Administrative
With established developers from other parts of the country cornering a piece of the Rs 1-lakh crore housing pie in the Mumbai Metropolitan Region, home-grown players such as the Lodha Group-owned Macrotech and Godrej Properties are adopting a two-pronged approach: to hold off competition and expand their market shares. According to an expert, following the
Direct-to-consumer (D2C) sleep solutions startup The Sleep Company’s revenue from operations increased to ₹312.33 crore in FY24 from ₹127.14 crore in FY23, according to the financial statement filed by the company with the Registrar of Companies (RoC). The D2C startup’s losses increased by 58% to Rs 58.69 crore in FY24 from Rs 37.06 crore in
WeWork India on Monday announced a board reshuffle, appointing Jitendra Mohandas Virwani, Chairman and Managing Director of Embassy Group, as Non-Executive Chairman, while Karan Virwani assumed an expanded role as Managing Director and CEO. The company board has also added Mahua Acharya and Anupa Rajiv Sahney as Independent Directors. Acharya, former MD and CEO of
The Centre has tweaked the capital management guidelines, giving the central public sector enterprises (CPSEs) more operational and financial flexibility by relaxing the criteria for payment of dividends, share buyback, issue of bonus shares and splitting of shares. According to revised guidelines, every CPSE will pay a minimum annual dividend of 30% of its profit
As equities continued to tread downwards, benchmark Nifty 50, along with more than half its constituents, closed below their respective 200-day moving averages (DMA) – a key technical parameter which indicates a potential warning sign for investors that more pain could be on the horizon. The 50-stock index fell for the seventh consecutive session on
Companies in the business of keeping cool are gearing up for a record summer this year. With temperatures already on the rise in the west, east and parts of the north, firms are readying production and distribution initiatives to meet the demand surge expected in the coming summer months. “February and the first two weeks
The domestic stock exchanges have seldom had it so good. Over four years of a bull market, coupled with investors entering in droves — it’s a heady mixture for the bourses. Consequently, their coffers have been flowing over. Sample this: India’s biggest stock exchange – the NSE – reported a 57% and 94% year-on-year growth
Gold prices have reached an unprecedented milestone, surpassing $3,000 an ounce for the first time in history. This surge is largely fuelled by a vigorous buying spree by global central banks, states Bloomberg. Since Russia’s 2022 invasion of Ukraine, central banks have increasingly turned to gold to diversify reserves and reduce dependency on the US
Gold pierced through the psychological milestone of $3,000 an ounce on Friday for the first time, building on an historic rally as trade tensions and U.S. rate cut bets supercharge its appeal as a safe haven asset. Spot gold was up 0.4% at $3,000.39 an ounce at 1031 GMT. Prices have scaled 13 all-time highs
Asia shares rose on Friday and global markets attempted a rebound after a brutal selloff earlier in the week, while gold reached a record as the latest escalation of global trade tensions left nervous investors seeking safe-haven assets. Relief over the likely aversion of a US government shutdown boosted stocks in Asian trade, after Senate
