Private equity firms were not as lucky as venture capital firms in terms of reaping gains through public market exits during the current calendar year. Unlike the VC firms who netted $4.06 billion till November, which was double their last year’s earnings, the gains for PE firms was flat at $13.3 billion, according to data
To push domestic manufacturing, the government has withdrawn a scheme, which permitted duty-free import of goods for solar power generation. In an official notification, the Central Board of Indirect Taxes and Customs (CBIC) announced that effective December 17 goods imported for solar power generation will no longer be permitted to undergo any manufacturing processes or
The government has received five more applications to run pilots of the E-commerce Export Hubs (ECEH) of which three including DHL, have been shortlisted, a senior official said. The other two shortlisted companies are Go Glocal and Lexship. With this, the number of companies that have been selected to run pilots for these hubs will
Exide Industries on Tuesday announced that it has invested around Rs 100 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL) by way of subscription in the equity share capital on rights basis. With this, the total investment, as on date, made by the company in EESL now stands at Rs 3152.24 crore
Reliance NU Suntech, a subsidiary of Reliance Power, has been awarded a major contract by the Solar Energy Corporation of India (SECI) for a solar and battery energy storage system (BESS) project. The project is for its 930 MW solar project, along with a 465 MW/1860 MWh BESS component. The contract was secured through a
– By Sarbojit Mallick Despite global challenges and uncertainties at workplaces, the Indian tech hiring industry is showcasing resilience in the upcoming year. Many companies have already picked up the pace as prominent tech institutions open doors to first-time recruiters, apart from legacy companies like Microsoft, Oracle, Google and others. According to Nasscom, campus hiring
Adani Group-owned Ambuja Cements on Tuesday announced the merger of its subsidiaries Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL) with itself. In a regulatory filing, the company said that it has entered into a scheme of arrangement with the two aforementioned companies and the proposed schemes inter ia provide for the amalgamation
The domestic gold jewellery consumption (in value terms) is expected to continue its momentum in the current fiscal with an estimated growth of 14-18 per cent YoY, stated a report by ICRA. This follows the sharp growth of around 18 per cent in FY2024, which was primarily driven by realisations even as volume growth was
As it eyes the unicorn status, business-to-business (B2B) raw materials marketplace Bizongo, which is currently valued at $980 million, is enhancing its logistics vertical to boost its platform capabilities. The logistics arm, launched in November 2023, currently works on an asset-light model with partnerships with vendors, but the startup intends to start owning warehouses in
Central Goods and Services Tax (CGST) officials in the recent months have investigated over two dozen textile manufacturing companies across the country for mis-classifying textile processing activities and subsequently paying lesser tax. According to official sources, the CGST department has observed that several textile manufactures are recording activities which involve ‘changing the nature of cloth’
Artificial intelligence (AI) is being used for “collusion” by sections of Indian industry, Ravneet Kaur, chairperson of Competition Commission of India (CCI) said on Sunday, adding that the regulator would equip itself to deal with it. “Companies are using AI to coordinate prices without explicit agreements, and are engaging in algorithmic discrimination under the garb
Owning a home is one of the most significant steps toward financial security, both for individuals and families. While men have traditionally taken the lead in property purchases in India, the trend is gradually changing, with more women actively investing in real estate. Recognizing this shift, both state governments and financial institutions have introduced various
The National Capital Region Transport Corporation (NCRTC) is set to launch a co-working space, named MetroDesk, at the Ghaziabad Namo Bharat Station soon. This innovative initiative aims to turn urban transit areas into dynamic business hubs, introducing a pioneering coworking model within the Namo Bharat network. MetroDesk is tailored for professionals, entrepreneurs, and small businesses
