Industry

Whirlpool of India Limited (Whirlpool) and PG Electroplast Limited (PGEL) have announced the signing of a definitive agreement, for contract manufacturing of select models of Whirlpool branded semi-automatic washing machines.  Under the arrangement, PGEL will manufacture some of the SKUs for Whirlpool at its factory at Roorkee. PGEL is already an existing supplier of Whirlpool

Aditya Birla Capital has become the first BFSI company to offer all three core financial services lending, insurance, and mutual fund investments on the Open Network for Digital Commerce (ONDC) platform. This move aims to provide broader access to financial products, particularly in underserved markets, and support financial inclusion across the country. Vishakha Mulye, CEO

The GST Council’s decision to retrospectively amend the Central Goods and Services Tax (CGST) Act to restrict input tax credit (ITC) on construction services for commercial real estate such as malls, shops, etc, for leasing could push project costs and increase rents, said experts. Developers could also move court against the  amendment, experts added. In

For analysts, investors and stakeholders, the country’s Rs 5-lakh-crore FMCG market has been a dependable industry that delivers consistent returns year after year. The year ending 2024, however, saw the ‘defensive’ FMCG market crack open as demand challenges, notably, in urban areas, hurt overall growth rates. This is even as rural areas saw a revival

Travel tech company Oyo on Monday said it has completed the acquisition of US-based G6 Hospitality from Blackstone for $525 million. The all-cash deal was initially announced in September.  G6 Hospitality is an economy lodging franchisor and the parent company of Motel 6 and Studio 6 brands. With this acquisition, Oyo will get around 1,500

Silectric Semiconductor Manufacturing, a venture backed by Chennai-based Zoho Corp, will invest Rs 3,425.6 crore to set up a manufacturing unit in Karnataka’s electronics manufacturing cluster at Kochanahalli, Mysuru. The project is expected to create 460 jobs. Also ReadFlying High: Adani Group to acquire 85.8% stake in Air Works for Rs 400 crore This investment

ReNew Energy Global on Monday said it has sold its 300 MW solar project in Jaisalmer, Rajasthan, at an enterprise valuation of $176 million (nearly Rs 1,500 crore) to Anzen Energy Yield Plus Trust. The project has been operational for three years. The tariff for the 25-year power purchase agreement is Rs 2.55/unit.  Additional $17

Upskilling platform Simplilearn reduced its net losses by 56% to Rs 106.7 crore in FY24 from Rs 244.2 crore in FY23. Revenue from operations grew 9.6% to Rs 749.77 crore in FY24, from Rs 683.98 crore in FY23, according to financial statements filed with Registrar of Companies. The revenue growth came primarily from online self-learning