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Sacked Infosys employees knock PMO’s door

The Prime Minister’s Office (PMO) has received over 100 complaints from former Infosys employees seeking reinstatement and measures to prevent future mass dismissals. In response, the Union ministry of labour and employment has sent a second letter to Karnataka’s labour commissioner, urging intervention in the layoffs at Infosys’ Mysuru campus. The ministry has also directed

IT, IT-enabled services salary growth to slow; GCCs see higher increments: EY

Salary growth in the IT and IT-enabled services sectors is slowing due to automation, cost optimisation and reduced hiring, according to the EY Future of Pay 2025 report.  IT sector salary increments are anticipated to decline from 9.8% in 2024 to 9.6% in 2025, while IT-enabled services are expected to moderate from 9.2% to 9%.

Ikea’s expansion plans to be mix of online & physical store

Swedish furniture retailer Ikea is set to deepen its presence in India with a strategic expansion plan that includes online sales in 10 cities and new physical stores in key metro markets. The company, which is currently focusing on six major metropolitan areas, is also seeking its next round of investments to drive future growth

NCLAT sets aside insolvency proceedings against Coffee Day Enterprises

The National Company Law Appellate Tribunal (NCLAT), Chennai, on Thursday set aside the insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Cafe Coffee Day. With this, the NCLAT dismissed a bankruptcy plea filed by IDBI Trusteeship over an alleged Rs 228 crore default. In a regulatory filing, the company said, “…today

Indian pharma rises to global prominence led by export boom and better compliance rates, McKinsey report reveals

A new report has revealed that India’s pharmaceutical sector that has risen in prominence as the largest supplier of generic medicines. According to McKinsey & Company’s latest report, this growth is driven by pharma exports growing faster than the global average, is at a tipping point: emerging trends in Indian and global landscapes could disrupt

How will UltraTech’s foray into cables & wires impact other players in the sector?

With UltraTech Cement announcing its foray into the Cables and Wires (C&W) industry with a planned capex outlay of Rs 18 billion over the next 2 years, brokerage firms and analysts maintained that the move will have only a modest impact on the segment and on sector players. An analysis report by Nuvama stated, “Given

Godrej Properties sells over 1398 homes worth Rs 1,000 crore at newly launched Godrej Evergreen Square project in Pune

Godrej Properties Ltd on Thursday announced that it has sold inventory worth over Rs 1,000 crore in its project, Godrej Evergreen Square, located in Hinjewadi, Pune. The project was launched in November 2024 and within four months of acquiring the land, it has become the company’s most successful launch ever in Pune in terms of

Inditex’s Bershka to take on Reliance’s Yousta

Spanish retail major Inditex on Wednesday launched its youth-centric retail brand Bershka, its second-largest globally after Zara, in India, setting the stage for competition with Reliance’s youth-focused retail chain Yousta. The Bershka launch at the Phoenix Palladium Mall in Lower Parel, Mumbai, comes as Inditex, among the world’s largest fashion retailers with over $37 billion
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Physics Wallah confidentially files for $500-mn IPO

Edtech giant Physics Wallah has confidentially filed for an initial public offering (IPO) that could raise as much as $500 million, according to a report by IFR. The company in October 2024 said it might launch a $400-500-million IPO in 2025. If the public issue is launched, Physics Wallah will be the first pure-play edtech

FY25 advance taxes grow 14.6%; Q4 rise at just 2.4% 

Advance tax collections from the corporate sector, other firms and individuals in the current fiscal stood at Rs 10.45 lakh crore as on Sunday, up 14.6% on year. In the corresponding period of last fiscal, these collections — a proxy of corporate profitability and the state of the economy — stood at Rs 9.11 lakh

Each demerged Vedanta firm has potential to be $100-bn company, chairman Agarwal

The four new companies formed after the restructuring of Vedanta have the potential to be $100 billion firms each, chairperson Anil Agarwal has said in a letter to shareholders. He has also highlighted the potential of the natural resources sector, both in India and global economies.“While Vedanta currently contributes close to 1.4% to India’s GDP, there

FMCG firms seek separate law for beauty products

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

Amazon eyes spinoff and local listing Valuation may get impacted due to ongoing CCI probe

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