Reliance New Energy Battery (RNEB), a subsidiary of Reliance Industries (RIL), has signed an agreement with the ministry of heavy industries on February 17 to secure 10 GWh capacity under the production linked incentive (PLI) scheme for Advanced Chemistry Cell (ACC) manufacturing. RIL bagged the ₹3,620 crore order in September 2024. With this latest signing
Larsen & Toubro (L&T) on Tuesday announced that it has acquired the remaining 26 per cent stake in L&T Special Steels and Heavy Forgings Private Ltd (LTSSHF) from Nuclear Power Corporation of India Limited (NPCIL), for Rs 170 crore. L&T already holds 74 per cent shareholding in LTSSHF and following this, the latter will become
With the fiscal third quarter earnings season now over, here is a look at how the FMCG industry performed during the last quarter. Elara Securities said that Nifty FMCG has underperformed Nifty 50 by 2 per cent (up at 10 per cent CAGR) since FY19. This, it added, has come after a strong 8 per
Air conditioner (AC) manufacturers may once again struggle to meet peak summer demand if it rises beyond a certain threshold, as the domestic production of compressors remains inadequate. The country currently produces around 6 million compressors annually, significantly short of the estimated requirement of 10 million units. The gap is primarily met through imports, mainly
B2B e-commerce platform Udaan has secured $75 million in Series G funding, the company’s co-founder and CEO Vaibhav Gupta announced during a townhall on Monday, according to sources. The round was led by UK-based M&G with participation from existing investor Lightspeed Venture Partners. During the townhall, Gupta also informed that the company is in advanced
India’s outsourcing landscape is undergoing a significant transformation, with 81% of organisations planning to increase outsourcing efforts over the next three to five years, according to Deloitte’s latest report, ‘The Outsourcing Compass: Decoding Strategies of Today’. This shift is driven by the growing demand for technological advancements, access to specialized expertise, and cost efficiency. As
Venture capital firm Lightbox Ventures is gearing up to raise a $200 million fourth fund. Managing director Sandeep Murthy discusses with Anees Hussain, the company’s strategic shift, and future plans. Excerpts: Q. What’s behind Lightbox’s recent structural changes? Initially, we relied on individual investors to drive value, but we’ve realised that investing and building require
Jio-bp, a joint venture between Reliance Industries and global energy major bp, aims to expand its retail infrastructure while enhancing customer experience to strengthen its presence in the downstream market. The company aims at expanding its electric vehicle charging stations to 100,000 in the next 10-12 years in line with the government’s push to support
The Unified Pension Scheme (UPS) is a new central pension scheme announced by the Narendra Modi government last year. The scheme, to be rolled out from April 1, aims to give a fixed pension security to government employees. This scheme under the National Pension System (NPS) is primarily designed for central government employees, but in
The domestic key equity indices closed on a positive note for the fourth consecutive session on Thursday. The NSE Nifty 50 rose 283 points or 1.24% to settle at 23,190.65, while the BSE Sensex jumped 899 points or 1.19% to finish at 76,348. Nifty Oil and Gas was the top gainers among the sectoral indices
Gold is charging ahead at full speed. The price of gold in international markets crossed the milestone level of $3,000 an ounce on March 15. Today, on March 20, gold is trading at around $3,037 while in India, the gold rate today is Rs 89,040 per ten grams. Gold investors are enjoying a golden moment
Vedanta is again in the spotlight, and this time, it is about a long-awaited corporate restructuring. The company’s much-anticipated demerger is in the final stages, with approval from the National Company Law Tribunal (NCLT) expected within the next 4-6 weeks, according to Vedanta founder Anil Agarwal’s recent interview with CNBCTV18. If you are an investor
In India, gold is not just a metal, but a symbol of heritage, tradition, and faith. Across India, from north to south, people have a special attachment to gold. Be it a wedding or a festival, every happiness seems incomplete without gold. This is the reason why Indian families have been accumulating gold from generation
