CATEGORIES

IIHL cannot annul Esops of Reliance General: Law firm

IndusInd International Holdings Ltd (IIHL), the investment arm of Hinduja group, cannot do away with employee stock option (Esop) and incentive schemes of Reliance General Insurance Co., as part of its resolution plan for the parent firm, Reliance Capital, according to law firm Khaitan & Co.

Indians still prefer hotels over homestays

Travellers from tier-I cities are not only spending more on leisure trips but also travelling more compared with their counterparts in tier-II and -III cities, according to a report by global research, consulting, and mergers and acquisitions advisory, Videc.

Meja Urja to foray into floating solar space

Meja Urja Nigam Pvt. Ltd, a joint venture of NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam, is set to foray into floating solar projects, in line with the energy transition goals of its promoter NTPC, said Sunil Kumar, the chief executive of the Uttar Pradesh-based power generation company.

Scheduled airlines can now fly single-engine planes at night

Phase-wise approach to introducing night operations; move to help raise aircraft utilization

E-scooter makers woo buyers with discounts

Bajaj Auto, TVS, Hero, Ola, Ather line up cash discounts, bonuses

Secondary market ASBA pilot in Dec

The stock market regulator plans to run a pilot for an ASBA-like facility in the secondary market in December, under which money will be transferred only after the actual share transfer. Till then, the funds remain in the investor’s bank account, and continue to earn interest.

Mphasis investors choose to overlook near-term concerns

Shares of mid-cap technology company Mphasis Ltd have surged by 18% so far this fiscal year, outpacing the 7.5% rise in the sectoral Nifty IT index. This is despite its muted earnings performance over the last two quarters amid healthy deal wins.

'Acquisitions delayed due to macros'

Multiple acquisitions, which were a part of information technology (IT) services firm Happiest Minds’ initial revenue growth guidance for FY24, are now expected to be closed by the end of this fiscal or early next—leading to the firm revising its growth guidance for the year.

'Hexaware actively seeking mid-sized and large deals'

Amid the global economic crisis, Hexaware Technologies, a global IT services provider, is seeing substantial growth prospects.

Road consultants need to sign anti-corruption pacts

The government plans to make it mandatory for consultants working on road construction projects to enter into ‘integrity pacts’ in keeping with global best practices.

How highest bond yields in 16 years could chill hot US economy

Add surging interest rates to the list of threats staring down the U.S. economy.

Ascent of yuan in India's indirect trade with Russia

India’s trade with Russia in yuan is gathering pace as Russian exporters prefer being paid in the Chinese currency, two people close to the matter said. The trades are routed through global financial centres like Singapore and Dubai.

Goel resigns as Byju's CFO, will finish work on FY22 statement

Byju’s chief financial officer Ajay Goel, who was brought on board to improve the edtech’s financial compliance has quit in six months, in a jolt for the company that has attempted to streamline its finances. He will join Vedanta Ltd, his previous employer, on 30 October.

Small loans spark big concerns as stress levels rise

A remarkable shift has unfolded in the world of banking over the past decade in India, and it’s not what you might expect.

No-tax liability claims grow despite robust rise in income

The number of persons reporting zero-tax liability for their previous year’s income continued to climb, with 44.6 million tax returns, or two-thirds of all 2021-22 assessment year filings, making this claim, according to data available from the income tax department.

TCS to revise rates for staffing firms

Tata Consultancy Services (TCS) Ltd is revising the rates it pays to about 1,000 staffing firms for every engineer deployed, the first such revision by India’s largest information technology (IT) services company in the past six years.

Small investors may bear brunt of crash

Data shows retail investors pumped ₹21,900 cr during bull run

When food industry meets the world of virtual reality

A futurecasting of how the worlds of AR and VR can collide with the F&B industry to impact our eating habits and how we interact with food

Will the Indian consumer justify our sales optimism this season?

The answer for the present is a shoulder shrug at best as there is data to support the story of a revival as well as of a slump

Indian urban planning needs a major overhaul

A survey has cast fresh light on key reasons why our urban spaces are in such bad shape. We must empower municipal structures and turn them more responsive to people's needs

RIL nears cash-and-stock deal to buy Disney India operations

Even as Disney Star struggled with sliding subscribers, it hasn't ceded the market

SpaceX poised for European satellite launches next year

Europe's space agency reached a tentative deal with SpaceX to launch as many as four satellites next year amid setbacks with the region's latest homegrown rocket.

Japan investigates Google over suspected antitrust violations

Japan's antitrust watchdog has begun an investigation into whether Alphabet Inc.'s Google abuses its market position to block rival services, compounding scrutiny of the internet leader's business practices across the globe.

US tells Israel to delay Gaza ground invasion

The US has urged Hezbollah in Lebanon, other groups not to join the fight

Paytm founder floats ₹30 cr fund for AI, EV startups

Paytm founder and chief executive Vijay Shekhar Sharma has launched a ₹30-crore fund to back artificial intelligence (AI) and electric vehicle (EV)-related startups operating in India.

Lotte plans to widen ice cream biz

The Korean food giant will invest ₹550 crore over five years to boost production at Havmor Ice Cream

Pvt banks see margins drop, small loans sour

High cost of deposits hits margins; Stress in unsecured book at some banks

Airlines to deploy 8% more flights in winter months

India's airlines will operate over 8% more flights in the upcoming winter season at 23,732 flight departures every week, regulatory data showed. This is also 1.4% higher than the winter schedule during the pre-pandemic period of 2019.

SpiceJet punctuality plunges in October

During the peak travel season, lowcost airline SpiceJet's on-time performance dropped significantly, inconveniencing passengers. According to available data, its punctuality rate ranged from 50% to 60% in the past five days. On 20 October, its punctuality rate hit a low of 40.2%, resulting in 60% flight delays.

Torrent Pharma net profit up 24% to ₹386 cr in Q2

Torrent Pharmaceuticals Ltd on Monday reported a consolidated net profit of ₹386 crore for the September quarter up 24% from a year ago, while revenue rose by 16% from ₹2,291 crore a year earlier to ₹2,660 crore.