The layoffs will mainly be in the company's product and engineering functions.
At $12-bn valuation, this will be India's largest FDI; deal to be announced on Saturday, says Dev Chatterjee.
India's largest cellular operator Bharti Airtel on Wednesday posted a 48 per cent rise in net profit at Rs 755 crore (Rs 7.55 billion) for the first quarter ended June 30, on the back of strong additions in its subscriber base.
The group firms reported combined losses of Rs 6,134 crore in FY19 against a net profit of Rs 5,414 crore a year ago. Excluding Vodafone Idea, the group reported a net profit of Rs 8,470 crore, down from a profit of Rs 9,582 crore a year ago.
Amazon has also signed a term sheet with Kishore Biyani-led Future group to invest $600 million to $700 million for a 12 to 15 per cent stake in the retail giant, it is learnt.
And why markets could give up 25 per cent of all these gains made since March 2020
Sify Limited, India's premier Internet, network and e-commerce services company, announced on Wednesday its consolidated US GAAP results for the quarter ended June 30th 2005.\n\n
Unlike some of India's largest online retailers like Flipkart, Amazon, Myntra and Jabong, which are very secretive about their data and use it to cut better deals with brands than their competitors, the Nykaa monetising its insights. If it is is able to do so without giving away any of its advantages to competitors, it could be on to a winning model.
Fall in crude prices has eased interest rate worries and that expectation of good Q2 is already factored in the prices.
Bharti Televentures on Thursday posted a 43 per cent increase in its net profit at Rs 521 crore (Rs 5.21 billion) for the second quarter ended September 30, 2005 over the same period in previous fiscal.
The increase in bookings has also meant a significant reduction in overall costs for the online travel agencies and a consequent narrowing of losses.
The big advantage that Jio is able to garner currently is its low cost of operations.
After a robust Q4 FY14, thanks to election spends on advertising across platforms, media entities might see slightly lower ad revenue growth at 12 to 14 per cent.
Operational income not covering even their interest expenses, finds study; analysts say if economy turns around, new equity issuances an option
Better margins, lower interest outgo could see the company turn profitable in FY15.
Ril's shale gas may be impacted due to fracking ban
But, unlike its competitors, it did not have a comprehensive infrastructure back-end and required fresh investments.
Analysts feel Fortis Healthcare share holders are at a disadvantage and deal valuations had been short of expectations
The world's largest liquor maker Diageo Plc on Tuesday made an open offer worth Rs 11,448.91 crore (Rs 114.48 billion) to acquire an additional 26 per cent stake in United Spirits Ltd.
Country accounts for 38% of telco's global user base, 10% of total revenue
The company plans to overhaul business and rationalise costs in a bid to reach parent Unilever's new profit targets, reports Viveat Susan Pinto.
Move comes in view of big debt overhang in two sectors; companies unwilling.
Move comes in view of big debt overhang in two sectors; companies unwilling.
Reliance Communications could become a much more formidable opponent.
Chinese blast has Tata Motors reporting Rs 430 cr net loss.
Struggling smaller F1 teams like Sauber and Force India have long argued that the distribution is skewed in favour of leading manufacturers, who receive special payments regardless of how they perform on the track.
The Indian rupee also trimmed most of its early gains and was trading at Rs 61.28 compared to its Wednesday's close of Rs 61.31 to the US dollar.
More, many market gurus expect the Sensex to reach 30,000 levels by December and 40,000-45,000 in three to four years.
Most of the index heavyweights are yet to declare their results.
Zee5 is now the fifth largest streaming app after YouTube, Hotstar, MX Player and Voot, and there is talk of hiving off Zee5 to drive valuation, says Vanita Kohli-Khandekar.
Airline's auditor attributes profit to changes in accounting system; GoAir says full disclosure made and auditor's note is unqualified
Their offer values Fortis at over Rs 9,000 crore, or around Rs 172 per share.
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
'It is a brand that has done so well till recently.'
HCL Technologies and Infosys should benefit more than TCS and Wipro
The latest results suggest Tata Steel Europe may have lost pricing power, though production and turnover are up.
The DoT estimates that it will receive Rs 29,524 cr in revenue from the telecom industry in FY18, which is 38% less than the Budget revenue target of Rs 47,300 cr for FY18
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
Reliance Jio submitted the highest pre-auction deposit.
