Leveraging the growing tourism boom, the Tata Group-controlled Indian Hotels Company (IHCL) is set to double its hotel inventory, launch new brands, and invest Rs 5,000 crore over the next five years. IHCL currently controls 12-13% of the branded hotel room inventory in the country, a figure expected to rise to 23% by 2030. From
RMZ, a privately-owned global alternative asset firm, through its arm RMZ Digital Infrastructure Partners (RDIP), has formed a joint venture with Colt Data Centre Services (Colt DCS), a global hyperscale data centre operator, to enter the digital infrastructure market. The two companies will invest $1.7 billion to expand Colt’s data centre capacity. The initial focus
As many as 74% of corporates expected the government to adopt the SAF-T (standard audit file for tax) system for “near real-time reporting and compliance monitoring” to ensure uniformity with international standards and move towards a more efficient and faster audit process, a survey by Deloitte showed. Also ReadBirla Opus Paints unveils its 4th factory
Meta on Tuesday said that it disagrees with the Rs 213 crore fine levied on it by the Competition Commission of India for abuse of its dominant position, and will appeal against the order. The penalty pertains to the controversial implementation of WhatsApp’s 2021 privacy policy, which mandated data sharing between WhatsApp and other Meta
Suzlon Energy’s revenue rose 48% on a yearly basis to Rs 2,103 crore in Q2FY25 and its net profit almost doubled to Rs 200 crore. The company had an order book of 5.1 GW—its biggest ever. JP Chalasani, chief executive officer, Suzlon Group, talks to Raghavendra Kamath about the company’s plans and the issues in
The Adani Group will acquire a 30% stake in Gujarat-based construction company PSP Projects from its promoters for Rs 685 crore. Adani Infra, part of the Gautam Adani-led conglomerate, will purchase the stake from Prahladbhai S Patel, who heads PSP Projects and is its shareholder. Also ReadUK-India Free Trade Agreement to relaunch in early 2025:
American tech giant Meta may find it tough to get interim relief against the Competition Commission of India’s (CCI’s) Rs 213-crore penalty on it for its alleged abuse of the dominant position of its messaging app WhatsApp, according to competition law experts. “It would not be easy for the appeal court to disagree with the
The topmost priority of NTPC Green Energy Ltd after its listing will be to scale up renewable energy capacity in a phased manner to 19 giga watt (GW) by 2026-27 at an estimated investment of Rs 1 lakh crore, Gurdeep Singh, chairman and managing director of its parent company NTPC Ltd said on Tuesday. The
The Indian stock market struggled to find direction on Wednesday, closing the day on a flat note amid persistent selling pressure in technology stocks. By the end of the session, the Sensex settled at 74,029.76, down 0.10%, while the Nifty closed at 22,470.50, slipping 0.12%. The midcap and smallcap indices slipped 0.5%, while some sectors
As the markets navigate through macroeconomic shifts and sectoral dynamics, the brokerage firm Jefferies has reaffirmed its bullish stance on select stocks. Among the key picks at this hour, HDFC Bank, Voltas, Samvardhana Motherson stand out, with the brokerage maintaining a ‘Buy’ rating on both – Voltas and HDFC Bank and Samvardhana Motherson is their
HDFC Securities analysts met JK Lashmi Cement’s management and iterated their Buy rating and target price. The brokerage believes that the company will see a compounded annual growth rate of 9% over the next two years as the cement major tightens its seat belt for expansion in the north. Also, a new brand to raise
Mutual fund net inflows tumbled about 79% in February, dragged lower by sustained sell-offs in the domestic equity market. With key indices Nifty and Sensex sliding about 5% during the month, equity mutual fund inflows saw a significant 26% decline to Rs 29,303 crore in February, against Rs 39,688 crore in the previous month. In
The wait for a hike in the dearness allowance (DA) of central employees and dearness relief (DR) of pensioners will end soon. This week, the Union Cabinet may take a final decision on this. If approved, the new DA will come into effect retrospectively from January 2025, which means the employees will get an increase
