Authorities raided Adidas AG headquarters in Germany as part of a years-long tax investigation, a spokesperson from the company said on Tuesday. Adidas said in a statement it has been in contact with customs authorities for several years about the matter and is providing them with documents and information. Also ReadShapoorji Pallonji sells land in
State-run ONGC is discussing technology tie-ups with global energy giants like Shell and Petronas for several offshore gas fields. The company has also firmed up plans to start drilling operations in a clutch of new fields, including the promising DWN-98/2 block in the deep waters of the Bay of Bay of Bengal, in a bid
Reliance NU Suntech, a subsidiary of Reliance Power, has bagged a 930 MW solar energy contract for battery energy storage system (BESS) project from Solar Energy Corporation of India (SECI) in an e-reverse auction held on December 9. As per the terms of the tender, Reliance NU Suntech will also have to install a minimum
The Jubilant Bhartia Group, promoters of Jubilant FoodWorks, is all set to acquire a 40% stake in Hindustan Coca-Cola Beverages (HCCB), the Indian bottling unit of US beverage giant The Coca-Cola Company. On Wednesday, the Atlanta-based Coca-Cola announced that it had reached an agreement with the master franchisee of Domino’s Pizza for the stake sale.
Co-working startup Innov8 reported a net profit of Rs 62 crore in FY24, a significant jump from Rs 2.5 crore in FY23. The Delhi-NCR-based startup attributed the growth to its asset-light operating model, low capex investment, and a strategic presence in key clusters in metros, which ensures a strong revenue-to-rent ratio and proximity to talent
Domestic consumer goods companies expect market growth rates to improve by FY26 as the urban slowdown pangs may subside by then, executives at top FMCG firms said. Companies also expect mid-single digit price-led growth to drive the overall topline growth. This would come after multiple quarters of pricing decline due to benign commodity costs on
The government will have to look into why the industry has still not become competitive and demands for higher import tariffs keep coming up, while India’s import duties are at world average, a senior official said Wednesday. “The weighted tariff has come down substantially and it is at the world average level but there are
Global beverages major Coca-Cola has sold 40 per cent stake in its India bottling business Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to Jubilant Bhartia Group. Though the company has not disclosed the amount of the deal, some media reports have pegged it at around Rs 10,000 crore. “The Coca-Cola Company today announced that it has
Marcellus Investment Managers has seen its Portfolio Management Services (PMS) assets under management (AUM) decline sharply by 64% from Rs 12,704 crore in October 2022 to Rs 4,734 crore currently. The primary reason? Valuation missteps in stock selection, as acknowledged by the firm itself. In a post on social media platform X, Kanan Bahl, CA
Since the Securities and Exchange Board of India (SEBI) permitted the launch of silver Exchange-Traded Funds (ETFs) in November 2021, these funds have witnessed remarkable growth. By January 2025, the total Assets Under Management (AUM) for silver ETFs surpassed Rs 13,500 crore, with over six lakh investor folios. As of that date, there are 12
The China Securities Regulatory Commission (CSRC) has suggested implementing salary reductions of up to 50% for fund managers whose investment products either incur losses or fail to meet benchmarks by 10% or more. This initiative, announced on March 14, 2025, is part of efforts to reform China’s $4.6 trillion mutual fund sector in light of
The Central Pension Accounting Office (CPAO) has issued new guidelines to ensure timely pension to retired employees of the National Pension System (NPS). In an Office Memorandum (OM) issued on March 12, 2025, the CPAO has reminded the concerned officials that NPS pension cases should be processed in the same manner as the Old Pension
Securing your children’s financial future is one of the most important responsibilities of a parent. From education and marriage to other key life expenses, your growing children will need financial support at different stages. To ensure they have the necessary funds when required, it’s essential to diversify your investments across different schemes. In India, several
