CATEGORIES

Mauritius minister dismisses Hindenburg claim on shell firms

IN A BOOST to the embattled Adani Group, Mauritian financial services minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of shell companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules.

L&T profit rises over 10%, beats Street estimates

GROWTH IN IT PORTFOLIO AIDS Q4 EARNINGS

FMCG market may grow 7-9% in 2023 on rural push

AFTER A YEAR of stress, the domestic fast-moving consumer goods (FMCG) market is reviving, led by the rural areas, research and insights firm NielsenIQ said on Wednesday.

China's SAIC plans to offload majority stake in MG Motor

CHINA'S SAIC MOTOR plans to dilute its majority stake in MG Motor India in favour of domestic entities over the next 2-4 years, Rajeev Chaba, CEO emeritus of MG Motor India, told FE on Wednesday.

Vanguard slashes Ola's valuation by 35% to $4.8 bn

GLOBAL INVESTMENT FIRM Vanguard Group has slashed cab-hailing startup Ola's valuation by around 35% to $4.8 billion from its earlier known valuation of $7.4 billion.

Cisco to make in India, targets $1-bn revenue

Facility expected to be started in 12 months

Panel working to enhance MDB lending: NK Singh

WITH A MASSIVE $2.4 trillion per annum spending needed by developing countries to address various challenges, the G20 Expert Group on strengthening multilateral development banks (MDBs) is looking at ways to substantially enhance MDBs'lending capacity with higher leverage and at a marginally increased level of risk, co-convenor of the group NK Singh said on Wednesday.

Canadian varsities invited to open India campuses

INDIA HAS INVITED top Canadian universities to set up local campuses during discussions at the meeting of India-Canada Ministerial Dialogue on Trade and Investment (MDTI) in Ottawa that was co-chaired by trade ministers of both countries.

Niti seeks consultant to review NHAI's debt

AMID THE NATIONAL Highways Authority of India (NHAI)'s increasing debt servicing burden, contingent liabilities and dependence on budgetary support, the government think-tank Niti Aayog has floated a request for proposal (RFP) from consultants to devise an action plan to improve its functioning.

India to seek end to e-trade tariff waiver

Food subsidy issue to be taken up at Paris meet

NCLT nod to Go's insolvency plea

Lessor moves tribunal, hearing today

PMLA net widens, directors covered

Trustees and nominee shareholders are 'reporting entities' too

Imran Khan's Arrest Leads To Massive Protests In Pak

Supporters storm army headquarters

Putin At V-Day Speech: World At ‘Turning Point'

PRESIDENT Vladimir Putin declared on Tuesday that the West has unleashed "a real war" against Russia, reprising a familiar refrain at scaled-down Victory Day celebrations that may reflect the toll the Ukraine conflict is taking on his forces.

India's chip market may reach $64 bn by 2026: Report

THE COUNTRY'S SEMICONDUCTOR market is expected to reach $64 billion by 2026, with significant demand from sectors like consumer electronics, telecom and IT hardware, according to a joint report by Counterpoint Research and the India Electronics & Semiconductor Association.

Mitsubishi to set up ₹1.8K cr plant

NEW UNIT WILL COME UP IN TAMIL NADU

Appointment of IDs: SAT's ruling clears the air

THE SECURITIES APPELLATE has ruled against the Securities and Exchange Board of India (Sebi) and NSE in a recent matter that pertains to the appointment of an independent director (ID) by Nectar Life Sciences.

Forex reserves at comfortable level currently, say economists

INDIA'S FOREIGN EXCHANGE reserves are at a comfortable level currently, benefiting from the RBI's persistent intervention and the likelihood of less volatile revaluation changes, economists said.

Axis Bank links RuPay credit cards with UPI

PRIVATE SECTOR LENDER Axis Bank on Tuesday said it has successfully enabled linkage of RuPay credit cards with Unified Payments Interface (UPI), the bank said in a release.

Rupee tumbles to three-week low

THE RUPEE FELL 28 paise to nearly three-week low of 82.06 against the US currency on Tuesday, weighed down by a strong greenback against major rivals overseas and a muted trend in domestic equities.

Smooth ride for tyre stocks in the past one year

Three out of top 5 returned over 50% since last year

Mankind Pharma shares gain 32% in stellar debut

Issue was subscribed a whopping 15.32 times

McLeod Russel likely to avoid insolvency

Erstwhile promoters Khaitans eye out-of-court settlement with IL&FS

Razorpay domicile shift to India to face regulatory challenges

FINTECH UNICORN RAZORPAY has joined a list of startups reverse flipping its country of domicile from foreign jurisdictions such as the US to India, even as they face large tax bills in the process.

JP Associates defaults on ₹3,956-cr loans

CRISIS-HIT JAYPEE GROUP'S flagship firm Jaiprakash Associates (JP Associates) has defaulted on loans worth ₹3,956 crore, including principal and interest amount.

Foxconn buys ₹300-cr land in Bengaluru

FOXCONN HON HAI Technology India has bought 300 acres of land in Bangalore Rural District for ₹300 crore, according to a filing by parent Hon Hai Precision Industry on the London Stock Exchange.

Air India gives pilots more time to accept new pay structure

AIR INDIA HAS given more time to pilots to accept the revised compensation structure, which has been opposed by two pilot unions, sources said. The development comes days after the airline organised a town hall meeting with many pilots to discuss their concerns.

Tata, IndiGo in talks to take Airbus planes from Go First

Separate talks on with lessors as well as airport operators

Ministry cracks down on spurious fertiliser rackets

Illegal units raided across 15 states, 70,000 bags seized

India Post looks to onboard ONDC platform, inks MoU

INDIA POST ON Tuesday inked a pact with the Confederation of All India Traders (CAIT) and Tripta Technologies for providing logistics support to small traders, and outlined plans to onboard the ONDC platform as a logistics service provider.