Engineering and automation major Siemens recorded its fiscal fourth quarter earnings with profit at Rs 830.70 crore, posting a growth of 45.41 per cent in comparison to Rs 571.30 crore during the same period of previous financial year. It posted revenue from operations at Rs 6461.10 crore, up 11.25 per cent as against Rs 5807.70
The back and forth in the Adani US bribery case is just starting to gain more prominence with the statements from Adani Green refuting and denying allegations. Adani Green Energy refuted all allegations against Gautam Adani, Sagar Adani and senior executive Vneet Jaain, who are facing charges in a $265 million bribery case. Adani Green
Anyone who has met Shashikant Ruia would never forget his humility and good-naturedness. The iconic industrialist who played a significant role in redefining India’s corporate landscape in his heydays had this uncanny ability to connect with everyone he met. The pre-Diwali get-togethers at the Ruia family house by the Arabian Sea in Mumbai were, therefore
Infosys, the country’s second-largest IT services firm, has declared an 85% average performance bonus for the eligible employees for the September quarter, according to sources. The bonus will be disbursed to Band 6 and below employees, encompassing junior to mid-level staff across delivery and sales units, who collectively form the majority of Infosys’ workforce. Additionally
Homegrown social media unicorn Mohalla Tech, which operates ShareChat and the short video platform Moj, reported a 33% year-on-year revenue growth, reaching Rs 718 crore in FY24, up from Rs 540 crore in FY23. Consolidated losses before tax in FY24 stood at Rs 1,898 crore. In FY23, the social media company recorded a net loss
The Competition Commission of India (CCI) has approved Alphabet subsidiary Shoreline International Holdings LLC’s acquisition of a stake in Flipkart, a Walmart group firm. Shoreline International, a wholly-owned entity of Google’s parent company Alphabet Inc., will invest in Flipkart by subscribing to its shares. The CCI stated that the deal includes an investment in Flipkart
Deepinder Goyal, managing director and chief executive officer of food delivery company Zomato, has voluntarily extended the waiver of his annual remuneration of Rs 3.5 crore by two years, till the end of 2025-26 (FY26), according to the company’s qualified institutional placement (QIP) documents. “Deepinder Goyal has voluntarily waived his salary for a period starting
In line with the biggest shopping festival in the West, which takes place on November 29 this year, several of the country’s leading brands and retailers, such as Adidas, Flipkart, Nykaa, and Amazon, have started their Black Friday offers. Black Friday, a concept imported from the US, marks the start of the Christmas shopping season.
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
With 400 million people in attendance, and manifold eyeballs on it, the Maha Kumbh is gargantuan not only in human presence, but in business opportunity as well. The figure is Rs 2 lakh crore to be precise, put forth by Uttar Pradesh chief minister Yogi Adityanath on Wednesday. This makes the event a pitching ground
Funds raised from the capital markets, including via equity and debt instruments, are expected to rise nearly 21% year-on-year to Rs 14.27 lakh crore in FY25, Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch said on Friday. Total capital formation has reached Rs 10.7 lakh crore so far this fiscal, with Rs
Despite missing Street estimates on the revenue and net profit front in its October-December earnings, analysts have viewed the company’s performance with a cautious optimism. The company’s commentary on the revival of discretionary spending and its robust order book are key drivers behind this sentiment. However, analysts remain vigilant about the challenges of total contract
