After experiencing an 11 per cent contraction in exports in 2023-24 (FY24) due to a dip in exports for 10 consecutive months from April to January, the Tiruppur textile industry is back on track in 2024-25 (FY25). The cluster, which contributes 55 per cent of the country's total knitwear exports, posted a 13 per cent increase in the first five months of this financial year (FY25), with August seeing a 22 per cent rise - the highest in over two years.
Lulu Retail announced on Wednesday that its initial public offering (IPO) was oversubscribed 25 times across all tranches, excluding cornerstone investors, generating demand exceeding $37 billion-a record for a private sector IPO in the United Arab Emirates. The company is controlled by Kerala-based business tycoon MA Yusuff Ali. The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date.
German technology major SAP views India as the fastest growing market, where it plans to embark on an aggressive hiring spree, a top company executive said on Wednesday. "India is among the top 10 markets for SAP and growing fastest. We will continue to invest in India. "We are expanding our campus to accommodate 15,000 more people.
Maruti Suzuki India Ltd (MSIL), the largest passenger vehicle manufacturer in India, has set a road map to expand its global presence by targeting exports of 800,000 units by the end of this decade -- almost double the approximately 280,000 units sent abroad in 2023-24, Rahul Bharti, executive director, corporate affairs, told Business Standard. The company's upcoming electric vehicle (EV) strategy is expected to play a crucial role in its global ambitions.
On the cusp of launching its Rs 11,327 crore initial public offering (IPO) next week, food and grocery delivery major Swiggy believes quick commerce to be its future growth engine and anticipates that it will outpace its core food delivery business over the next five years. Currently, the quick commerce business of Swiggy - backed by Prosus and SoftBank - is 40 per cent of the size of its food delivery revenues.
'Our growth in banking, financial services, and insurance (BFSI) is a prime example.'
'GenAI programmes may not be large in terms of value, but have triggered a lot of new opportunities among clients.'
The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services. However, concern about the macro-environment continues to be a challenge. Among the top four - Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro - it is Bengaluru-based Infosys that has performed the best and that was evident in its full-year revenue guidance.
'No one manufactures intelligence at the moment.' 'This is a concept that your IT industry understands.' 'What you need is infrastructure. Everything else can then be taken care of.'
American chip behemoth Nvidia Corp and India's retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on "manufacturing" AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance's one-gigawatt data center in Jamnagar, Gujarat.
Sivakasi is fighting for survival, thanks to the ban on firecrackers in Delhi, regulations in several other cities, pandemic-imposed sales dips, the ban on the use of barium nitrate...
Indian motorcycle maker Royal Enfield on Tuesday announced starting a manufacturing unit and a showroom in Bangladesh, marking a major industrial development in the neighbouring country where the former prime minister Sheikh Hasina fled in August after weeks-long protests against her. The manufacturing facility in Chauddagram in Cumilla district is Royal Enfield's sixth outside India and besides the one in Tamil Nadu. Royal Enfield, the global leader in the mid-size motorcycle segment, has set up the facility in collaboration with IFAD Motors.
Facial Recognition Technology will be deployed to counter celebrity-bait scams.
Employees were told to return to work from Monday onwards for a fresh start for improved production.
Fresher hiring, which has been subdued as Indian information technology (IT) services firms scaled back their recruitment, is set for a turnaround. The IT sector's fresher hiring is expected to rise by 20-25 per cent for 2024-25 (FY25). Additionally, the global capability centres are projected to boost their fresher hiring by 40 per cent compared to last year, according to a TeamLease Digital analysis.
The IT sector's fresher hiring is expected to rise by 20% to 25% for 2024-2025. The increase in hiring is driven by a focus on specialised skills catering to segments like AI, machine learning and data analytics.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
From Tetley Tea to Jaguar Land Rover and Air India, Ratan Tata has ticked off almost every item on his bucket list. However, one that remains unfinished is the electric version of his small car, the Tata Nano. A concept entrusted to Coimbatore-based Jayem Automotives (Jayem Auto) is still on the shelves, despite nearly 400 cars being launched, primarily due to Covid-19 and new crash norms.
Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25). The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates.
Workers' strike at Samsung Electronics plant at Sriperumbudur entered 30th day on Tuesday with no end in sight as Centre of Indian Trade Unions (CITU), the union leading the charge, claimed that its major demands are yet to be fulfilled. This is despite the company agreeing to pay a special incentive to the employees.
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