However, while Splendor's annual sales surged 31.7 per cent to 3.638 million units between 2019 and 2024, Hero's other models suffered sharp drops.
'Israel would make Iran and its proxies pay. They, along with Qatar, fund terror all over the world.'
The government is planning to tweak its procurement policy to give a fillip to domestic manufacturing. The industry department has floated a proposal to raise the minimum local content requirement for public procurement for Class-I and -II suppliers from 50 per cent currently to 70 per cent, and 20 per cent as of now to 50 per cent, respectively.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a "discrepancy," and the tax department will be reprocessing the returns. "We understand that the tax authorities will be reprocessing the returns, post which TDS shall be in sync with Form 26AS issued by the Income Tax Department, and Form 16 Part A issued by TCS. Associates that received the notice will receive a rectification intimation in due course and are not required to pay any demand amount.
'Will make sure that we create value. We will again look for organic and inorganic opportunities.'
About 99,165 electric cars were sold in India in 2024, but electric car penetration -- share of electric car sales in total sales -- was just about 2.5 per cent.
In its first official engagement with the Indian government, Elon Musk-led Tesla and other global automotive (auto) manufacturers sought clarification on the new electric vehicle (EV) policy, specifically regarding investment guidelines and the timeline for the domestic value addition (DVA) requirement. Officials who attended the meeting told Business Standard that the original equipment manufacturers (OEMs) tried to understand whether the complete investment would be made within three or five years and the duration they would have to achieve the 50 per cent DVA. "The consultation meeting was convened to address queries from auto OEMs.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
'Regulatory challenges exist everywhere. What we look for is regulatory stability over time.'
Businesses across the country may soon be required to issue electronic invoices, or e-invoices, directly to consumers for the sale of goods and services. The Goods and Services Tax (GST) Council, in its forthcoming meeting on Monday, is expected to discuss extending the e-invoicing mandate to cover business-to-consumer (B2C) transactions. Currently, e-invoicing is compulsory for businesses with a turnover of Rs 5 crore and above, but only for their business-to-business (B2B) transactions.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
'Companies are coming to the campuses, and we have companies booking their slots for the placement season, but the overall number of companies signing is low, and the hiring numbers are also lower.'
'Expect India to keep doing well irrespective of geopolitics.'
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
Employees were told to return to work from Monday onwards for a fresh start for improved production.
'The global median of whistle-blower complaints is 1.5 per cent of the total employees. India's reporting is far away from this average.'
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
'Currently, EVs are about 30-50 per cent more expensive than ICE vehicles. I believe the inflection point for EVs will come when this price gap narrows to 20-25 per cent. That's when people will start coming in.'
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
... catch up with Blinkit, Swiggy Instamart and Zepto...
A group comprising top tech startups and unicorns has raised several "serious concerns" over a platform-based gig workers Bill proposed by the Karnataka government, saying it would hurt the ease of doing business. They told the state government the Bill in its current form would hamper operations and increase regulatory and compliance burden on the nascent gig and startup economy, according to sources.
As quick-commerce players find their foothold among consumers, brands are all set to step up their presence on these platforms.
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
For food aggregator platform Swiggy, quick commerce (qcom) is proving to be a better growth opportunity than food delivery. Its qcom arm Instamart is rapidly outpacing its core food delivery vertical across several key financial metrics, the company's recently filed draft red herring prospectus (DRHP) shows.
Data collated for 47 BSE50 companies (as of H1FY25) shows employees and workers filed 8,468 such complaints in FY24.
Tata Consultancy Services (TCS) - the largest information technology (IT) services provider in India and the second-largest globally - recently set an ambitious goal of $50 billion in revenue by 2030. The growth required to reach this goal, however, is lower than the company's own standards. In the past decade, TCS revenues, or net sales in US dollar terms, have grown at a compound annual growth rate (CAGR) of 9.5 per cent, from $10.2 in 2011-12, to an expected $25.3 billion during 2021-22 (FY22), based on its revenue trend in the first nine months of FY22.
'The use of AI, especially genAI is only going to get worse, especially in an enterprise ecosystem.'
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on Thursday. The 10-year agreement amounts to 0.5 per cent of global oil supply and is valued at roughly $13 billion per year at current prices, it said.
The company is eyeing sales of 8,000 units per month for the Kylaq, which starts at Rs 7.89 lakh (ex-showroom) and boasts 96 per cent localisation.
The first luxury car will be launched in the first quarter of 2025 and the company is planning to open 12 'MG Select' showrooms in the next six months.
The Cyberster is currently sold in the UK for about Rs 63 lakh and is expected to be priced between Rs 65 lakh and Rs 70 lakhs.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
Coal-to-airports conglomerate Adani group is set to make a splash in the tech world. The group is considering the creation of customised artificial intelligence (AI) models for commercial prospects and consolidating digital services on a super app, according to people in the know. The Adani One app, part of its consumer-facing businesses, is reportedly in talks to expand into e-commerce and digital payments, according to a Financial Times report.
FLEXI Show will give the audience the freedom to leave the movie hall at any point while paying only for the time they watched it.
The average Indian works 46.7 hours per week, surpassing even China's 46.1 hours. In some sectors, the numbers are even more staggering.
Indigo has zero competition on 61.2 per cent of its 838 domestic routes.
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