The department for promotion of industry and internal trade (DPIIT) has entered into a partnership with cigarette-to-consumer goods conglomerate ITC to help startups in the manufacturing sector, according to a statement on Wednesday. According to the memorandum of understanding (MoU) signed for the purpose, ITC’s experience and expertise with the market network will complement DPIIT’s
L&T Technology Services (LTTS) anticipates a decline in net hiring numbers in the coming years, driven by increasing automation and productivity improvements, Amit Chadha, CEO & MD told FE. “If we look at it year-on-year, our headcount has been flat, but we have grown 9% in rupee terms. Going forward next year, you can expect
Food delivery giants Swiggy and Zomato are expected to moderate discounts in their core business as competition in quick commerce — another segment they are present in — intensifies, say industry experts. This shift reflects a strategic move towards sustainable pricing to balance profitability and maintain market leadership. Discounting has been a key strategy to
Swiggy on Wednesday announced that the Ministry of Corporate Affairs approved the incorporation of Swiggy Sports, a wholly-owned subsidiary of the company. The new subsidiary will operate in the sports activities and amusement and recreation activities space. In a regulatory filing, Swiggy said, “We would like to inform you that Ministry of Corporate Affairs, Central
Reliance Industrial Infrastructure Ltd (RIIL) on Wednesday announced its fiscal third quarter earnings with standalone profit at Rs 2.48 crore, posting a decline of 8.15 per cent on-year in comparison to Rs 2.70 crore recorded during the third quarter of FY24. It posted revenue from operations at Rs 12.36 crore, down 17.27 per cent as
L&T Technology Services Ltd on Wednesday announced its fiscal third quarter earnings with profit at Rs 322.40 crore, recording a drop of 4.10 per cent in comparison to Rs 336.20 crore posted during the third quarter of FY24, missing estimates. It posted revenue from operations at Rs 2653.00 crore, up 9.55 per cent as against
India’s December trade deficit has come in lower than estimates at $21.94 billion compared to the revised November trade deficit of $32.84 billion. This is primarily on the basis of higher exports and month-on-month drop in overseas shipments. According to a Reuters poll, December trade deficit was expected to be at $27.33 billion Earlier last
Adani Green Energy Ltd (AGEL) on Wednesday announced that its operational capacity for the 9 months ended December 31, 2024, increased by 37 per cent on-year to 11,609 MW with greenfield addition of 2,693 MW solar and 438 MW wind power plants. In a regulatory filing, AGEL said that in terms of solar power plants
Good news for taxpayers! The Finance Ministry has made some changes to the Direct Tax Vivad Se Vishwas Scheme, 2024, removing “difficulties” that arose due to certain situations for taxpayers. This update in the scheme will bring relief to taxpayers who wanted to apply for the scheme but could not do so earlier. “CBDT…makes the
United Spirits, which makes Smirnoff vodka, on Thursday reported a profit of Rs 335 crore for the third quarter of FY25, posting a decline of 4.29 per cent in comparison to Rs 350 crore during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 7,732 crore, reporting a growth of
Pharma major Mankind Pharma on Thursday reported its financial results for the third quarter and nine months ended 31 st December 2024. The company reported revenue from Operations at Rs. 3,230 Cr, up by 24% YoY and domestic revenue at INR 2,773 Cr, up 17%, Exports at INR 457 Cr, up 121% YoY. The company’s
Cryptocurrency exchange WazirX, owned by Singapore-based Zettai Pte Ltd, has received approval from the Singapore High Court to convene a scheme meeting with its users to repay them funds stolen in a $235 million hack in July last year. North Korean Lazarus group was found responsible for the cyberattack. A scheme meeting is a shareholders’
Indian equity indices opened Thursday’s trading session gap-down. The NSE Nifty 50 opened 35 points, or 0.15%, lower at 23,120.95, while the BSE Sensex fell 106 points, or 0.14%, to open at 76,298.96. Hindustan Unilever’s share price declined by 3%. However, both indices soon started to trade in the green. At 10 am around, the
