Foxconn Group’s Bharat FIH, which is facing revenue decline amid a shortage of new orders, has decided to shut down a subsidiary it launched just three years ago, which focuses on R&D and supply chain initiatives. According to the company’s latest filing accessed by FE, Bharat FIH’s board of directors has approved a resolution to
While two successive cuts in allocation of cheaper APM gas to city gas distribution companies (CGD) have caused their stocks to fall steeply, analysts expect another price hike for compressed natural gas (CNG) for these firms to sustain their margins. State-owned GAIL India, the nodal agency for domestic gas allocation, has decided to cut Administrative
With established developers from other parts of the country cornering a piece of the Rs 1-lakh crore housing pie in the Mumbai Metropolitan Region, home-grown players such as the Lodha Group-owned Macrotech and Godrej Properties are adopting a two-pronged approach: to hold off competition and expand their market shares. According to an expert, following the
Direct-to-consumer (D2C) sleep solutions startup The Sleep Company’s revenue from operations increased to ₹312.33 crore in FY24 from ₹127.14 crore in FY23, according to the financial statement filed by the company with the Registrar of Companies (RoC). The D2C startup’s losses increased by 58% to Rs 58.69 crore in FY24 from Rs 37.06 crore in
WeWork India on Monday announced a board reshuffle, appointing Jitendra Mohandas Virwani, Chairman and Managing Director of Embassy Group, as Non-Executive Chairman, while Karan Virwani assumed an expanded role as Managing Director and CEO. The company board has also added Mahua Acharya and Anupa Rajiv Sahney as Independent Directors. Acharya, former MD and CEO of
FE Connect The elements of efficiency, operational excellence and agility are core to any business function and in times when every root and branch of an organisation has to be aligned to ensure stellar outcomes, leveraging technology becomes crucial. Sharing thoughts, swapping ideas and brainstorming on this, CFOs and finance heads from a diverse and
MakeMyTrip on Monday announced that it has signed a Business Transfer Agreement to acquire Happay Expense Management Platform from CRED. This acquisition, it said, reinforces MakeMyTrip’s commitment to becoming the go-to platform for comprehensive corporate travel and expense management solutions. As part of the agreement, Happay brand, its expense management business, and its dedicated team
ONGC Green Limited (OGL), a wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC) and NTPC Green Limited, a NTPC Limited subsidiary, announced a 50:50 joint venture to form ONGC NTPC Green Private Limited (ONGPL). “It is hereby informed that a Company – ONGC NTPC Green Private Limited (ONGPL), has been incorporated on 18.11.2024
Gold prices have reached an unprecedented milestone, surpassing $3,000 an ounce for the first time in history. This surge is largely fuelled by a vigorous buying spree by global central banks, states Bloomberg. Since Russia’s 2022 invasion of Ukraine, central banks have increasingly turned to gold to diversify reserves and reduce dependency on the US
Gold pierced through the psychological milestone of $3,000 an ounce on Friday for the first time, building on an historic rally as trade tensions and U.S. rate cut bets supercharge its appeal as a safe haven asset. Spot gold was up 0.4% at $3,000.39 an ounce at 1031 GMT. Prices have scaled 13 all-time highs
Asia shares rose on Friday and global markets attempted a rebound after a brutal selloff earlier in the week, while gold reached a record as the latest escalation of global trade tensions left nervous investors seeking safe-haven assets. Relief over the likely aversion of a US government shutdown boosted stocks in Asian trade, after Senate
When it comes to amassing vast wealth, the general perception is that billionaires are just lucky. But the reality is different. Billionaires invest very wisely to grow their wealth. Their strategies are so effective that not only do they increase their wealth, but they also do not have to pay much tax. Let’s know what
After a brief lull in big-ticket IPOs, the Indian stock market is gearing up for another major listing – this time from a household name in consumer electronics. After Hyundai Motors India made waves last year, another South Korean giant, LG Electronics India, is ready to debut on the Indian stock exchanges. The consumer electronics
