The recent depreciation of the rupee against the dollar is proving to be a tailwind for the Indian IT sector, which generates 50-60% of its revenues from the US market. “For every 1% depreciation in the rupee, there is typically a 0.5% increase in revenue and about a 1.5% rise in profit. This quarter, the
It’s ironic that the man, who got one of the most high-profile jobs in corporate India in 2024 and whose moves are expected to grab the headlines in the new year and beyond, once famously said that what comes to his “rescue is the fact that he never speaks to anybody”. To be fair, Noel
The Karnataka government on Monday approved nine industrial projects with a total investment of Rs 9,823.31 crore, expected to create approximately 5,605 jobs. The approval was given during the 64th meeting of the State High Level Clearance Committee (SHLCC), chaired by Chief Minister Siddaramaiah. Of the approved projects, three are new investments, while the remaining
It’s been a rough couple of years for IndiaMart InterMesh but Dinesh Agarwal is betting things will look up. The CEO of the country’s biggest B2B portal, which caters to small enterprises, is hopeful the pace of customer additions will perk up. Since June, 2023 just about 2,000-3,000 customers have been added every quarter compared
The Goods and Services Tax (GST) Council Meeting, headed by Finance Minister Nirmala Sitharaman invited mixed reaction after it announced that pre-packed and labelled ready-to-eat popcorn will attract a 12 per cent tax while caramelized popcorn would attract an 18 percent GST. On 21st December, the Ministry of Finance, in a release, clarified that “ready
Adani Enterprises on Monday announced that its wholly owned subsidiary, Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works India (Engineering) Private Limited, a private sector MRO company with a pan-India footprint. The cost of acquisition would be at an enterprise value
The Indian data centre industry capacity is expected to more than double to 2-2.3 GW by fiscal 2027, stated a report by CRISIL Ratings. The growth, it added, will be led by increasing digitalisation of the economy as enterprises increase their investments in cloud storage and consumer demand for data surges. Also, rising penetration of
Larsen and Toubro (L&T) on Monday announced that its Precision Engineering & Systems vertical has bagged an order from the Ministry of Defence, Government of India, for the supply of K9 Vajra-T Artillery Platforms to the Indian Army. K9 Vajra-T, a 155 mm, 52-calibre tracked self-propelled artillery platform adapted from South Korean self-propelled howitzer K9
Fast-moving consumer goods (FMCG) companies are asking for a separate law to govern beauty and personal care (BPC) products, saying current regulations under the Drugs and Cosmetics Act 1940 impede growth. At present, the making of soaps, skin care, hair care, oral care and cosmetic products, much like drugs, is regulated under a system of
E-commerce major, Amazon, is exploring the possibility of spinning off its India operations and listing it, according to industry sources. The company, which is the second largest player in the e-commerce sector, behind Flipkart, has initiated preliminary talks with investment banks to assess the feasibility of such a move, sources added. According to a report
Budget carrier SpiceJet on Monday announced that its founder and promoter, Ajay Singh, through Spice Healthcare, a promoter group entity, will infuse `294.09 crore into the airline. This would be done through the conversion of 131.4 million warrants into an equal number of equity shares. This strategic move will increase the consolidated shareholding of the
Quick commerce platform Zepto will start selling Apple products, including the latest iPhone 16e, on its platform this week, according to people with direct knowledge of the development. The assortment will have iPads, Apple Watches and AirPods, among other accessories. This comes just two weeks after its rival Blinkit announced it would start delivering other
The planned imposition of the claimed reciprocal tariffs on imports by the Donald Trump administration will impact Tata Motors and Samvardhana Motherson International (SAMIL), research and rating agency Moody’s said on Monday. Vehicle exports to the US are limited at around 3% of total exports for India. However, auto parts suppliers and luxury carmakers selling
