The government will no longer infuse any fresh capital into ailing Mahanagar Telephone Nigam (MTNL), but may not initiate its closure right away, as this would be done only after the company clears its liabilities of around Rs 32,000 crore, according to official sources. To generate funds for expunging the liabilities, the company has been
Azure Power is planning to refinance $150 to $180 million (Rs 1,250 crore to Rs 1,500 crore) worth of loans by the end of this financial year to reduce costs and replace maturing loans. “Until March 2025, we are primarily focusing on refinancing, not raising any fresh debt. We are considering two cases where refinancing
Mid-tier IT services firm Persistent Systems reported a 6% sequential increase in net profit to Rs 325 crore for the quarter ended September. Year-on-year, net profit surged 23.4%, driven by the company’s focus on an AI-led services strategy. The company’s consolidated revenue also saw a 6% quarter-on-quarter rise to Rs 2,897.1 crore, marking a 20%
The FMCG sector is facing sluggish demand as it is becoming polarised with the middle class shrinking but simultaneously there being high demand for premium products, Nestle India chairman and managing director Suresh Narayanan said on Tuesday. He added that in bigger cities, a channel shift is also being noticed with people preferring e-commerce and
Retailers’ allegation of anti-competitive behavior against quick commerce companies like Blinkit, Zepto, and Swiggy Instamart may not result in anti-trust action against the latter, as these firms don’t meet the requirement of having dominant position in the relevant market, experts say. In a letter dated October 18, the All India Consumer Products Distributors Federation (AICPDF)
Reliance Infrastructure on Tuesday announced that it will be setting up an integrated project for manufacturing explosives, ammunition and small arms in Ratnagiri, Maharashtra. The company has been allotted 1,000 acres of land in the Watad Industrial Area of Ratnagiri to develop the Dhirubhai Ambani Defence City (DADC). DADC will be the largest greenfield defence
India’s export of petroleum products remained muted in the first half of the current financial year 2024-25, while the imports surged 10% for the period, as per data from Petroleum Planning and Analysis Cell. The country exported 31.0 million tonnes of refined oil products during April to September, almost unchanged from 30.7 million tonnes in
Adani Energy Solutions posted a more than two-fold jump in its Q2 FY25 net profit, reaching Rs 675 crore, compared to Rs 276 crore in the same quarter of the previous financial year. However, it missed analysts’ net profit estimate of Rs 888 crore. The strong profit growth was driven by a higher Ebitda, along
Capital markets regulator SEBI barred five individuals from the securities markets for one year and directed them to impound illegal gains of nearly Rs 1.53 crore made from their front-running activities.The regulator also imposed a penalty of Rs 10 lakh on Nikhil Khaitan, Rs 5 lakh on Om Prakash Khaitan, Manju Khaitan, Neha Khaitan, and
In a testament to India’s burgeoning luxury real estate market, there has been an unprecedented surge in ultra-luxury residential sales. Over the past three years, a staggering 49 ultra luxury homes, each commanding a price tag of Rs 100 crore or more, have changed hands in the country’s premier metropolitan hubs of Mumbai and Delhi-NCR
The Reserve Bank of India (RBI) is likely to go for a rate cut in its April MPC meeting, which may prompt banks to lower the interest rates on their fixed deposits further. It may be noted that some of the banks and financial institutions have already reduced their FD rates following the 25 bps
In a recent Twitter post Elon Musk announced that “xAI has acquired X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt).” Musk had bought Twitter/X for $44 billion in 2022. Therefore, for all practical purposes, there is a clear loss of over $11
As the financial year FY26 begins, the last trading session of FY25 comes with a festive pause. Indian stock markets will remain closed on Monday, (March 31), on account of Eid-Ul-Fitr (Ramzan Id). This marks an extended break for investors, with trading resuming on Tuesday, April 1. No trading on BSE, NSE on March 31
