BENGALURU: Gurugram-based food delivery startup Zomato has pumped in Rs 500 crore into its quick commerce business Blinkit, bringing the total investment to Rs 2,800 crore since it acquired the company in 2022. The latest infusion comes on the heels of Zomato raising Rs 8,500 crore through a qualified institutional placement in November, which it…
NEW DELHI: The Union Cabinet has approved a Rs 11,440 crore revival plan for debt-laden Rashtriya Ispat Nigam (RINL), according to a statement released on Friday.The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the revival plan for RINL for Rs 11,440 crore, it added. The infusion includes Rs…
NEW DELHI: Finance minister Nirmala Sitharaman is set to introduce a bill for a new direct tax law in the budget session, which will focus on simplification of the provisions, doing away with the ones that are redundant and attempt to make the language more layman friendly.The committee tasked with the revision, is deciding if…
MUMBAI: The country’s fifth biggest IT services firm Tech Mahindra on Friday reported a 93 per cent jump in December quarter net profit at Rs 983 crore, helped by a low-base in the year-ago period. The Mahindra group company’s performance was impacted in the year-ago period, and it had reported a net profit (after minority…
NEW DELHI: Wipro‘s consolidated net profit for the December quarter stood at Rs 3,354 crore, up by 24.4 per cent from the corresponding quarter of the previous year. The IT major’s operational revenue increased modestly by 0.5 per cent growth, reaching Rs 22,319 crore.The company projected the revenue from the IT services in the range…
Union Budget 2025: We propose the government to consider increasing capex in FY26 by 15 percent over 2024-25, says FICCI. (AI image) Budget 2025 expectations: Finance Minister Nirmala Sitharaman’s Union Budget 2025 should focus on maintaining a thrust on investments and implementing next generation reforms, according to FICCI. In its list of pre-Budget 2025 recommendations…
Despite Trump’s complaints about India’s trade barriers, Garcetti said he expects the US and India to continue to draw closer. There’s “no question” India needs to cut its high tariffs in order to compete with more business-friendly rivals in Southeast Asia if it wants to win from Donald Trump’s looming trade war with China, the…
The market value of Murthy family’s 4.02% stake in Infosys decreased to Rs 30,334 crore. Infosys share price today: India’s second largest IT services firm, Infosys’ shares fell by nearly 6% to Rs 1,812.70 on the BSE, causing a significant reduction of approximately Rs 1,900 crore in Narayana Murthy’s combined family net worth. The market…
Hindenburg’s investigations have resulted in substantial market value losses for several companies. Hindenburg shutdown: Nate Anderson, founder of Hindenburg Research, announced on Wednesday the shut down of his US investment firm, stating they have completed all ongoing projects.The firm’s investigations have resulted in substantial market value losses for several companies, notably including the Indian conglomerate…
MUMBAI: Reliance Industries, India’s largest company in terms of market value, reported a 12% rise in quarterly profit on Thursday, helped by strong demand in the retail business, and as higher telecom tariffs and a rise in 5G subscribers boosted the telecom unit. Profit grew to Rs 21,930 crore in the Dec quarter, beating analysts’…
