A New York court has ruled that the criminal and civil cases against Indian billionaire Gautam Adani and others, linked to an alleged bribery scheme, are “related” and will be handled by the judge presiding over the criminal case. According to an order from the US District Court for the Eastern District of New York
The Centre’s dividend receipts from the Central Public Sector Enterprises (CPSEs) and other investments have fetched Rs 48,376 crore or 86% of the annual target so far in the current financial year. Going by the performance of the CPSEs so far, the dividend receipts from these companies is poised to exceed Rs 60,000 crore for
In the streets of Bengaluru in 2014, Kabeer Biswas used to coordinate deliveries through WhatsApp groups, personally responding to customer requests and managing the first 8,000 deliveries of what would become Dunzo. The rise was spectacular for Biswas. By 2016, Dunzo became a verb synonymous with convenient hyperlocal delivery in India and boasted millions of
Fast-moving consumer goods (FMCG) companies may report low-single-digit revenue growth in the December quarter of FY25 owing to sluggish urban demand and persistently high input costs, analysts as well as companies said. “We expect volume growth deceleration across the board, given the slowing urban demand and a gradual rural recovery,” analysts at Kotak Institutional Equities
Nishant Pitti, who stepped down as the CEO of Easy Trip Planners on January 1, has said that he will not be selling any more stake in the company. In December, he sold a 1.4% stake in the company for Rs 78 crore. In September 2023, he had sold another 14% stake for Rs 920
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
India has gotten amazingly comfortable and habituated with ordering in and this was again proved as food-delivery company Zomato and Blinkit released its year-end report for 2024. The annual customer insights report for 2024 unveiled some hilarious and interesting searches, one of them being 4,940 users searching for ‘girlfriend’ and 40 for ‘dulhan’ on the
A decade after entering India’s luxury residential real estate market, the Trump Organization is now expanding into the commercial sector. The company announced the launch of Trump World Centre in Pune, marking its first commercial project in the country. The development, a partnership between Tribeca Developers and Kundan Spaces, will feature two high-rise glass towers
The family battle in Raymond Group seems to have ended with Nawaz Modi Singhania, estranged wife of chairman and managing director Gautam Singhania, deciding to step down as a director on the board. The company said the resignation is effective Wednesday. “We thank Nawaz Modi Singhania for her services as a board member over the
All-electric ride-hailing platform BluSmart Mobility is restructuring its operations as part of an ongoing effort to streamline its financials. The company, which generates monthly revenue of Rs 70 crore, translating to an annual run rate of approximately Rs 840 crore, is making strategic adjustments to its fleet management, co-founder Puneet Singh Jaggi told FE in
The Securities and Exchange Board of India (SEBI) on Wednesday imposed penalties on former news anchor Hemant Ghai and two others, including his wife, for alleged fraudulent practices and barred them from dealing in securities for five years. The markets regulator has also fined Motilal Oswal Financial Services (MOFSL) for failing to adequately supervise authorised
The Directorate General of Trade Remedies (DGTR), under the commerce ministry, has recommended a 12% provisional safeguard duty on some steel products to protect the local industry from below-cost imports. A final decision will be taken by the finance ministry. In a notification, the DGTR said critical circumstances exist wherein any delay in application for
