India has proposed to the United States to convert their memorandum of understanding in critical minerals into a critical minerals agreement (CMA) that will give the benefits of a free trade agreement to the trade of electric vehicles. “I have suggested that our critical minerals MoU should be converted to critical minerals partnership agreement and
Kotak Mahindra Bank’s standalone profit rose 5% to Rs 3,344 crore in the second quarter of current fiscal from Rs 3,191 crore in the same quarter previous year, helped by healthy growth in net interest income and improvement in asset quality. The net profit was below expectations as Bloomberg analysts expected the lender to post
Tech Mahindra reported a higher-than-expected earnings in the September quarter on the back of improved revenue growth in communications, hi-tech and media, and banking, financial services and insurance verticals. The consolidated revenue rose over 2% sequentially to Rs 13,313.2 crore in July-September against Rs 13,005.5 crore reported in the June quarter. The topline also beat
Indian business leaders have launched a promising round of discussions in Mexico, aiming to unlock fresh trade and investment opportunities. The high-profile meeting, organized by the India México Business Chamber under the leadership of Amparo Kushelevich, signals a deeper alignment between the two nations as they explore ways to boost economic ties across sectors such
Finance Minister of India, Nirmala Sitharaman, kicked off her official visit to Mexico in the vibrant city of Guadalajara, a renowned IT hub in Latin America. Her choice of Guadalajara as her starting point underscores India’s commitment to fostering strong technological partnerships with Mexico and strengthening the region’s high-tech ecosystem. During her visit, she participated
The top four Indian IT services firms —TCS, Infosys, Wipro, and HCLTech — saw year-on-year decline in their total contract value (TCV) during the July-September period, due to the absence of mega deals and continued lumpiness in large deals. Further, geographically, revenue contribution from North America continued to decline for most them. Despite this, they
Nestle India’s growth may continue to be under pressure if the raw material prices remain elevated and urban demand is muted, analysts said. However, in the long run, its “RUrban” strategy may prove beneficial. Under it, Nestle India, which counts urban India as its majority consumer, aims to increase the company’s reach in rural and
JSW Steel has entered into a share purchase agreement to acquire 100% equity shares of thyssenkrupp Electrical Steel (tkES) through a 50:50 joint venture with Tokyo-headquartered JFE Steel for Rs 4,051.4 crore, the Sajjan Jindal-led steel company announced to the exchanges on Friday evening. The acquisition will be executed through Jsquare Electrical Steel Nashik, a
Fast-moving consumer goods (FMCG) companies are asking for a separate law to govern beauty and personal care (BPC) products, saying current regulations under the Drugs and Cosmetics Act 1940 impede growth. At present, the making of soaps, skin care, hair care, oral care and cosmetic products, much like drugs, is regulated under a system of
E-commerce major, Amazon, is exploring the possibility of spinning off its India operations and listing it, according to industry sources. The company, which is the second largest player in the e-commerce sector, behind Flipkart, has initiated preliminary talks with investment banks to assess the feasibility of such a move, sources added. According to a report
Budget carrier SpiceJet on Monday announced that its founder and promoter, Ajay Singh, through Spice Healthcare, a promoter group entity, will infuse `294.09 crore into the airline. This would be done through the conversion of 131.4 million warrants into an equal number of equity shares. This strategic move will increase the consolidated shareholding of the
Quick commerce platform Zepto will start selling Apple products, including the latest iPhone 16e, on its platform this week, according to people with direct knowledge of the development. The assortment will have iPads, Apple Watches and AirPods, among other accessories. This comes just two weeks after its rival Blinkit announced it would start delivering other
The planned imposition of the claimed reciprocal tariffs on imports by the Donald Trump administration will impact Tata Motors and Samvardhana Motherson International (SAMIL), research and rating agency Moody’s said on Monday. Vehicle exports to the US are limited at around 3% of total exports for India. However, auto parts suppliers and luxury carmakers selling
