JSW Steel has entered into a share purchase agreement to acquire 100% equity shares of thyssenkrupp Electrical Steel (tkES) through a 50:50 joint venture with Tokyo-headquartered JFE Steel for Rs 4,051.4 crore, the Sajjan Jindal-led steel company announced to the exchanges on Friday evening. The acquisition will be executed through Jsquare Electrical Steel Nashik, a
Tata Consumer on Friday beat Street estimates, reporting an almost 8% increase in net profit for the quarter ended September 2024 (Q2FY25) to Rs 364 crore, compared to Rs 338 crore in the same period last year. Analysts polled by Bloomberg had projected a net profit of Rs 343 crore for the quarter under review.
The recent reduction of over 20% in the allocation of Administrative Price Mechanisms (APM) gas to city gas distribution companies by GAIL India is expected to result in an increase in the prices of CNG (Compressed Natural Gas), as per analysts. As communicated by Indraprastha Gas and Mahanagar Gas, the government has decided to cut
India’s merchandise exports in the first half of FY25 rose at a modest rate of 1%, owing to slowdown in global demand, decline in oil prices, higher logistics costs for exporters, and of course, declining competitiveness in certain segments. The outlook for the second half is however of slight improvement, even as the current external
Zomato will not launch private labels and Blinkit’s quick food delivery platform, Bistro, operates independently without using any data from its Gurugram-based parent, Blinkit CEO Albinder Dhindsa clarified on Friday. The statement comes a day after the National Restaurant Association of India (NRAI) announced plans to take legal action against platforms like Zomato for allegedly
Infosys has escalated its legal battle with Cognizant by filing a counter-lawsuit in a US court. The lawsuit accuses the Nasadq-listed Cognizant and its CEO, Ravi Kumar, of engaging in anti-competitive practices and misusing sensitive information to undermine Infosys Helix, its flagship healthcare platform. The allegations were reported by Moneycontrol and mark a significant development
In a move that will bring relief to foreign portfolio investors (FPIs), the Securities and Exchange Board of India (SEBI) has proposed a doubling of the additional disclosure threshold for FPIs with an exposure of Rs 25,000 crore. The suggestion – to raise the floor to Rs 50,000 crore of equity assets under management –
Maha Kumbh Mela 2025: Days before the start of the world’s largest religious congregation ‘Maha Kumbh 2025’, digital payment app PhonePe, in partnership with ICICI Lombard General Insurance, has launched a first-of-its-kind insurance coverage for devotees travelling to Prayagraj. The insurance plan is designed for travellers attending the upcoming Maha Kumbh Mela from January 13
Shares of Indian IT outsourcing giants Infosys Ltd., HCL Technologies Ltd. and Wipro Ltd. got a boost from Donald Trump’s US election win. They will get a chance to comment on how his presidency might affect their businesses when they post earnings. Overall, investors appear to view the incoming administration favorably for the sector, as
