State-owned Oil and Natural Gas Corporation (ONGC) is looking to venture into mining of offshore minerals given the company’s technical expertise in drilling in subsurface and offshore areas, a senior executive at the company said. “We are not looking to bid right now (under the first tranche of offshore mineral auction) but we do have
Tata Consumer Products proposes to double the number of beverage vending machines to about 4,000 (from over 2,000 machines now) by the end of FY25 by tapping the hotels, restaurants, catering (HORECA) segment apart from corporate houses, Nidhi Verma, head, vending business, Tata Consumer, told FE. The business was incubated in 2023, with under 700
Food delivery major Swiggy on Monday announced that it is expanding its 10-minute food delivery service Bolt to over 400 cities in India. The service was initially launched in October this year in Hyderabad, Mumbai, Delhi, Pune, Chennai and Bangalore. The platform, which recently got listed, said Bolt would now enter into tier-2 and 3
The Securities and Exchange Board of India (SEBI) has approved the indirect acquisition of shares in Shriram Properties by its Chairman and Managing Director, Murali Malayappan. The regulator’s exemption order issued on Monday said that the acquisition will not lead to any change in control of Shriram Properties since the promoter and promoter group will
Capital markets regulator Sebi on Monday ordered the attachment of bank accounts as well as shares and mutual fund holdings of Reliance Big Entertainment to recover dues of Rs 26 crore. Before this, the markets watchdog on November 14 sent a notice to Reliance Big Entertainment Pvt Ltd (now known as Rbep Entertainment Pvt Ltd)
Bangladesh has reduced by half the power it purchases from Adani Power, citing lower demand during the winter season, government officials informed Reuters on Monday. This development comes amidst disputes over unpaid dues amounting to hundreds of millions of dollars. Adani Power cut its power supply to Bangladesh by 50% on October 31, citing payment
Pricol Limited on Monday announced the acquisition of Sundaram Auto Components (SACL)’s Injection Moulding business through Pricol Precision Products Private Limited (a wholly owned subsidiary of Pricol Limited). With this acquisition, it said, Pricol will see a consolidated topline addition of approximately Rs 730 crore combined with SACL’s financial parameters that are value accretive to
Real estate prices and rising pollution levels seem to making strange bedfellows. The National Capital Region (NCR) has seen one of the steepest rise in real estate prices in the past few years along with a sharp decline in the air quality level. According to Anarock Property Consultants, average residential prices have gone up 57%
In a world where hustle culture often dominates, Mahindra Group Chairperson Anand Mahindra’s perspective stands out as a refreshing counterpoint. Reacting to L&T Chairman SN Subrahmanyan’s recent suggestion that employees should work 90 hours a week and even on Sundays to stay competitive, Mahindra offered a measured and thoughtful response. “I don’t want it to
Avenue Supermarts Ltd, which operates the retail chain DMart, on Saturday announced its fiscal third quarter earnings report with profit at Rs 723.72 crore, posting a growth of 4.79 per cent in comparison to Rs 690.61 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 15,972.55 crore for the
EPFO Update: Private sector employees covered under the EPFO have long been demanding an increase in their minimum pension, which is currently fixed at Rs 1,000 per month. Adding to their 7–8-year struggle to present their case to the government, a delegation of EPS-95 pensioners met Finance Minister Nirmala Sitharaman on January 10 to push
RIL, Jio Q3 Earnings Announcement Key Dates, Where to Watch Live Streaming: Mukesh Ambani led-Reliance Industries Ltd (RIL) will announce its fiscal third quarter earnings next week on January 16 (Thursday). The conglomerate will hold its board meeting to consider and approve the standalone and consolidated financial results for the third quarter of FY25 and
Indore-based TaskUs, a leading BPO and digital transformation services provider, abruptly fired over 300 employees without prior notice, sparking widespread outrage. A video of distressed employees addressing the company staff has gone viral on social media. In the video, employees accuse company representatives of mistreating them and even laughing while delivering the layoff news, further
