Amazon‘s cloud services provider, Amazon Web Services, will invest about $8.2 billion in India’s western state of Maharashtra over the next few years, the information technology ministry said on Monday. India has been stepping up its efforts to pilot local cloud data storage. According to a report by International Data Corporation, the country’s cloud services
The Oberoi Group on Monday announced two new resorts in Rishikesh — an 80-key luxury resort with ‘vilas’ branding, and a 120-key five-star hotel with Trident branding. Both hotels will be managed by EIH, the Oberoi Group’s flagship company. Located on a 60-acre site with the Ganges on three sides, near Rishikesh, the vilas will
Domino’s and Swiggy’s quick food delivery arm Bolt announced a partnership on Monday, saying that the brand’s pizzas would now be available in 10 minutes. This makes Domino’s the first pizza brand in the country to promise such a rapid delivery. In a statement, Swiggy said, “With this partnership, Domino’s menu items will be available
Ennoconn Corp, a Taiwan-based Industrial IoT and hardware manufacturer and a Foxconn subsidiary, has started its India operations, focussing on the country’s industrial automation and digital transformation market. “Ennoconn has already registered a company in Tamil Nadu with plans to bring their products to the Indian market,” a source aware of the development told FE.
Coffee Day Enterprises (CDEL), which owns the Cafe Coffee Day (CCD) chain, has cut its store count by 3% in the December quarter (Q3FY25) versus last year, as it seeks to manage its debt obligations, its latest financial statements show. At its peak in FY19, CCD operated 1,752 stores. It now has 439 stores (Q3)
Adani Green Energy (AGEL) on Monday said it has refinanced its maiden construction facility, with outstanding of $1.06 billion taken in 2021, to develop a solar-wind hybrid renewable cluster in Rajasthan. The long-term financing has door-to-door tenure of 19 years with fully amortised debt structure emulating the underlying asset life, the company said. ED notice
India’s electricity demand is expected to grow at an average 6.3% annually over the next three years, stronger than the 2015-2024 average growth rate of 5%, as per the forecast by the International Energy Agency. The strong demand for electricity is supported by economic expansion and rising air conditioner ownership, as per the agency. Over
The Enforcement Directorate on Monday said it has issued a notice to Paytm’s parent company, its MD and linked entities for “contravention” of the Foreign Exchange Management Act (FEMA) involving Rs 611 crore. According to Paytm’s annual report for the financial year 2024, the fintech major’s founder, Vijay Shekhar Sharma, is its chairman, managing director
When an investment matures, you face a crucial decision: withdraw the funds or reinvest them for future growth. The right choice depends on your financial goals, market conditions, and liquidity needs. Reinvesting can help build wealth through compounding, while withdrawing may be ideal for immediate expenses or reallocating to better opportunities. Understanding the pros and
With Bharti Airtel and Reliance Jio announcing their respective agreements with SpaceX, JM Financial said that this tie-up is largely neutral for the two telecom companies and there seems to be no significant risk to growth potential for Indus Towers. Currently, the agreement between the two telcos and SpaceX is limited to distributing Starlink’s satellite
OLA Electric Mobility has been continuously in the eye of the storm. The share price fell below Rs 50 per share on the National Stock Exchange, down 6.2% intra-day. This is after Rosmerta Digital Services initiated insolvency proceedings against OLA Electric Mobility’s wholly-owned subsidiary, Ola Electric Technologies, for non-payment of incurred services. Rosmerta initiates bankruptcy
Wipro shares fell 0.9% to an intra-day low of Rs 261.70 after it realigned the global business with clients’ needs. The stock was among the major losers on Nifty and has lost 13% year to date. The restructuring in global business line comes amidst the US recessionary concerns and challenging macroeconomic conditions. Also, the company
Infosys is back in the spotlight as investors keep a close watch on the IT giant following recent developments. From its upcoming quarterly earnings to stock performance trends, here are five key things to know about Infosys shares right now. Infosys: Quarterly earnings on the radar The countdown has begun for Infosys Q4 results. The
