ONGC Videsh (OVL) , the overseas investment arm of Oil and Natural Gas Corporation (ONGC), has completed the acquisition of Norwegian firm Equinor’s stake in an oilfield and an associated pipeline in Azerbaijan for $60 million, the company announced. OVL acquired a 0.615 per cent participating interest (PI) in the offshore Azeri Chirag Gunashli (ACG)
The Supreme Court on Friday directed Aakash Educational Services not to give effect to the extraordinary general meeting (EGM) resolution to amend its Articles of Association (AoA). A bench of chief justice of India Sanjiv Khanna and justice PV Sanjay Kumar directed the institute, which is a subsidiary of Think and Learn, which runs edtech
Five major agriculture producers led by the US have accused India of providing support to its rice and wheat producers far in excess to what the World Trade Organisation (WTO) rules allow, an allegation which has been rejected by Indian representatives in Geneva as baseless. The counter-notification on the issue was brought by the US
Tiger Global-backed B2B seafood chain Captain Fresh is aiming to end this fiscal year with a profitable bottomline and revenue growth in the range of $500-550 million, compared to $168 million in FY24. The startup has plans to hit the public markets in FY26. “We started as an India-to-India business and then we became India-to-global
Adani Group’s Chief Financial Officer, Jugeshinder Singh, firmly denied allegations of bribery involving government officials to secure contracts. Speaking at a Trust Group event in Mumbai, Singh emphasised that no large payments were made, stating, “If you are paying that much cash to someone, I would certainly know.” Singh dismissed allegations made in the U.S.
The compensation paid by global capability centres (GCCs) is expected to be over 50% more than the remuneration paid out by other sectors in the software development domain in 2024-25. GCCs are expected to outpace information technology (IT) products & services and non-tech sectors in compensation, particularly in critical domains such as software development and
Power Mech Projects on Friday announced that the company has bagged an order worth Rs 510 crore (excluding GST) from Adani Power Limited. The order, it added, is related to the performance of Mechanical construction works for 2×800 MW Raipur Phase-II Ultra Supercritical Thermal Power Project (Project), at Raikheda village in Raipur District, Chhattisgarh. In
Backing the Adani Group, embattled in the US bribery case, CRISIL Ratings on Friday said that while the issue at hand is sub judice, the conglomerate has sufficient liquidity and operational cash flows to meet debt obligation and committed capex plans over the medium term. CRISIL Ratings also factored in the additional flexibility available 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
Larsen & Toubro chairman SN Subrahmanyan’s comments on a 90-hour working week have sparked outrage with a host of his peers in corporate India criticising the idea of working inordinately long hours. CEOs took to Twitter and television on Friday to express their reservations on the remarks by Subrahmanyan, who has exhorted L&T employees to
