India will have to face and address multiple challenges as it re-configures its energy mix in tune with the target of net zero emissions by 2070, says Yezdi Nagporewalla, CEO, KPMG in India. He believes the country is taking the right steps on multiple fronts in this context. India, for instance, will have the world’s
US-based Morgan Stanley has opened its new global capacity centre (GCC) in Mumbai. The 1-million square feet office is located at Commerz III, International Business Park, Oberoi Garden City in Goregaon. The new office will consolidate Morgan Stanley’s global centre operations in Mumbai in one campus, accommodating over 8,500 staff. “The office is designed to
Hitachi Energy plans to invest around Rs 2,000 crore on expanding its capacity, portfolio, and talent base. In some of its product lines, the firm is also looking to double its capacity. N Venu, managing director & CEO, India and South Asia, Hitachi Energy, talks about the company’s operations and issues in the energy sector
Bengaluru-based B2B e-commerce platform Udaan saw minimal growth in FY24, with gross merchandise value (GMV) rising 1.7% to Rs 5,706.6 crore from Rs 5,609.3 crore in FY23, according to filings by group entity Trustroot Internet in Singapore. For context, Udaan’s GMV was Rs 9,900 crore in FY22, indicating a deceleration in growth over the past
The Insolvency and Bankruptcy Board of India (IBBI) has proposed to include an option of mediation for operational creditors (OCs) under the Insolvency and Bankruptcy Code (IBC), as it aims to cut the load of National Company Law Tribunals (NCLTs). According to discussion paper floated by the IBBI on Monday, the OCs would exercise the
Retail sales (offline and online) during the festive season increased by about 15% year-on-year in 2024, much lower than 32% or so in 2023 and 88% in 2022, Nomura Global Research wrote in a note on Tuesday citing rough estimates based on anecdotal data. “Demand is holding up in rural areas and in tier-2/3 cities
India’s trade defence body Directorate General of Trade Remedies (DGTR) has recommended imposition of provisional anti-dumping duty of up to $339 per metric tonne on imports of PVC suspension resin from seven countries, including China and US. PVC suspension resin is the main raw material for rigid and flexible plastics. It is widely used for
GAIL (India) Ltd on Tuesday released its fiscal second quarter earnings with profit growth of 10.1 per cent YoY at Rs 2689.67 crore. The company had recorded a profit of Rs 2442.18 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 33,981.33 crore, up 2.8 per cent as against Rs
The Central Board of Direct Taxes (CBDT) on Tuesday asked stakeholders to continue submitting their suggestions on the new Income Tax Bill, 2025, which will be compiled and sent to a select committee of Parliament for review. In a release, the CBDT said an effort is underway to collect inputs and work on simplification of
After a 14% correction since September end, benchmark indices have recorded around 2% gains in the past two trading sessions. The broader indices, which had fallen up to 24% from their peak levels, also gained around 3%, providing much-needed relief to investors. However, the key question remains: Will this recovery sustain? Experts are divided. While
After acquiring Allianz’s 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance for Rs 24,180 crore, Bajaj Finserv is planning to explore listing of its insurance ventures. Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, said there was a regulatory nudge for listing of larger insurance companies. The boards of the
The Competition Commission of India (CCI) on Tuesday raided the offices of media agencies, including GroupM, Dentsu and IPG Mediabrands, as well as the Indian Broadcasting and Digital Foundation (IBDF), an apex body of broadcasters, over alleged fixing of ad rates and discounts, industry sources told FE. The action comes ahead of the 18th edition
After over a week of consolidation, Tuesday was a breakout day for the benchmark indices, which clocked around 1.5% growth on the back of good news on both global and domestic fronts. While the softer-than-expected US retail sales data fuelled hopes globally that the Federal Reserve could consider rate cuts, India’s lowest trade deficit in
