The earnings season has got off to a subdued start, with virtually every heavyweight disappointing the Street. Net profits of a sample of 164 companies (including banks and financials) were up 7% year-on-year on the back of an 8% rise in revenues. But net profits would have fallen but for a 23% jump in other
CPP Investments (CPPIB), Canada’s largest pension fund manager, has dropped its plans to sell stake in IndoSpace Core, its equal joint venture with IndoSpace, a developer of logistics parks promoted by Southeast Asia-focused Everstone Capital and US-based Realterm, people in the know said. CPPIB did not get the desired valuation from bidders, sources said. “Also
Not just kiranas, but quick commerce is beginning to hurt organised grocery retailers in urban centres as consumers seek instant gratification and convenience. While DMart, a popular grocery chain, admitted last week that online formats were hurting sales in metro stores, NielsenIQ data sourced from the industry corroborates this trend. Sales volume growth in modern
As the government looks to set up 500 gigawatt (GW) of green capacity by 2030, a key challenge is to ensure its seamless access to the Grid. This is because RE by nature is intermittent, which undermines its optimal use unless stored efficiently. Private companies such as ReNew, JSW Energy, Avaada Energy, Serentica Renewables, Gensol
India’s renewable energy RE) ambitions could increase the country’s annual solar import bill to $ 30 billion from $ 7 billion currently with most of it coming from China and as the entire world faces the same issue in its efforts to decarbonise key countries need to unite to global scale solar manufacturing facilities, according
By Dr Mohit Tantia Rajasthan has emerged as a prime destination for solar energy investment, not just in India, but globally. With an impressive installed capacity of 22,860 MW, the state now ranks first in the country in solar energy production. As India pushes toward its ambitious goal of achieving 500 GW of non-fossil fuel
India has proposed to the United States to convert their memorandum of understanding in critical minerals into a critical minerals agreement (CMA) that will give the benefits of a free trade agreement to the trade of electric vehicles. “I have suggested that our critical minerals MoU should be converted to critical minerals partnership agreement and
Kotak Mahindra Bank’s standalone profit rose 5% to Rs 3,344 crore in the second quarter of current fiscal from Rs 3,191 crore in the same quarter previous year, helped by healthy growth in net interest income and improvement in asset quality. The net profit was below expectations as Bloomberg analysts expected the lender to post
The Indian IT services sector is likely to face challenges in FY26 due to increasing regulatory and economic uncertainties linked to the policies of the US administration under the presidency of Donald Trump. Analysts believe that pauses in IT budgets by corporate clients, combined with these uncertainties, could delay the industry’s recovery. The proposed tariffs
Flipkart Internet, the marketplace arm of Walmart-owned e-commerce major Flipkart, has received Rs 3,249 crore from its parent entity based in Singapore. The board at Flipkart has issued 470,773 equity shares at an issue price of Rs 69,014.7 each on a right issue basis to raise Rs 3,249 crore from Flipkart Marketplace Private Limited (Singapore)
By Amit Chadha For decades, India was the nerve centre of IT services, revolutionising how businesses worldwide operate. But over the past few years, a new wave of transformation has been underway — one that redefines India’s position on the global innovation map. Engineering R&D (ER&D) is becoming the backbone of India’s growth story, driving
Large sections of Indian industry, including sectors that are seen to be relatively more vulnerable to the reciprocal tariffs by the US, appeared largely unperturbed on Wednesday ahead of the Donald Trump’s administration’s imminent disruptive move. Several key industries that have high interest in the lucrative US markets, including electronics, pharmaceuticals, auto parts, and gems
A day after declining by over 1.5% due to nervousness over US President Donald Trump’s looming reciprocal tariffs, Indian stock markets put up a brave face on Wednesday, with benchmark indices bouncing back and erasing over half the losses incurred earlier in the week. The rupee, on the other hand, closed a little weak, depreciating
