Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
IT services major Infosys on Thursday reported 11.46 per cent increase in consolidated net profit at Rs 6,806 crore for December quarter FY25 and raised its guidance on the back of growth in financial services and manufacturing. The company had logged a profit of Rs 6,106 crore in the corresponding period of the previous fiscal.
Fintech firm BharatPe is targeting an initial public offering (IPO) in the next 18-24 months with the company expecting profitability at an earnings before interest, taxes, depreciation and ammotisation (Ebitda) level for FY25, chief executive officer (CEO) Nalin Negi said.
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
Billionaire Gautam Adani's younger son Jeet on Friday married fiance Diva Shah at a small and intimate, traditional ceremony with a close group of friends and family in attendance.
The billionaire Adani family, which is building an in-house construction and engineering ecosystem by acquiring ITD Cementation and PSP Projects, is actively seeking additional acquisition opportunities, according to bankers. As part of its $100 billion investment plan by 2030, the Ahmedabad-based group has undertaken several large-scale construction projects, including the Dharavi redevelopment, Ganga Expressway, a mega convention centre in Mumbai and airports.
IT attrition rate is expected to be around 12% to 13% this year.
The meeting of the six-member Satyam Board, which started in Hyderabad on Wednesday, has been extended till Thrusday.
Russian shipments averaged 1.67 million barrels per day in January compared to 1.48 million bpd in December and 1.53 million bpd a year earlier.
Joy Basu, chief financial officer of rediff.com, has been named the winner in the category of medium-sized businesses in the 6th Annual CFO Awards 2006.
'Skilled labour is different from immigration.' 'While any adverse immigration ruling will impact Indians, it may not necessarily affect the IT services industry.'
The board meeting, which was expected to be held on February 5, was brought forward by a day. "Announcements relating to critical leadership appointments are expected to be made at the board meeting," the company's internal newsletter stated.
The development comes amid Japan's SoftBank booking an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in Ola and e-commerce company Snapdeal.
The founder of FIITJEE and 11 others have been booked after several of the coaching institute's centres in Delhi-NCR abruptly shut down, leaving students and parents in the lurch. FIITJEE has blamed the closures on "mismanagement and desertion" by managing partners, while students and parents allege non-payment of salaries and fraudulent practices. The institute claims it is pursuing legal action against competitors for alleged poaching of its faculty.
Chinese smart devices firm Xiaomi's India head Muralikrishnan B has resigned from the company to pursue his interest in academic research, the company said on Monday. He will continue to support Xiaomi India as an independent Strategic Advisor, the company said. "Muralikrishnan B, the current President of Xiaomi India, will be transitioning out of his role at the end of the year.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
Finance Minister Pranab Mukherjee gave the Business Today Best CFO in the Public Sector Award to Sarraf, ONGC said.
Most global as well as domestic brokerages are upbeat on India's largest IT services provider, Tata Consultancy Services (TCS), despite its performance during the December quarter of FY25, when it missed Street estimates. On the bourses, the TCS share price rallied as much as 6.44 per cent to hit an intraday high of Rs 4,296.80 apiece, before settling 5.67 per cent higher at Rs 4,265.55.
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
Investmentyogi tells you how to think like a CFO and manage your money like a professional.
Yahoo!'s current CFO, Blake Jorgensen announced his plans to leave the firm in February, just weeks after Carol Bartz took over the reins of the internet entity. Morse would be paid a salary of $500,000 and a 'sign-on bonus' of $500,000, according to Yahoo!'s regulatory filing with the Securities and Exchange Commission.
Ex-CFO says new incumbent steps in at the right time, will be able meet to meet challenges.
With crude palm oil prices on the rise, companies have started to jack up rates of soaps and edible oils in order to pass on the hike to consumers. Crude palm oil, one of the main ingredients in the manufacture of some consumer goods, saw a price rise of 45.2 per cent in the last three months. One of the country's largest consumer companies, Hindustan Unilever, said it has already started to take price increases in the skin cleansing category.
The ruling came as a consent order from Sebi following an investigation on insider trading in the shares of Wockhardt between September 1, 1998 and December 31, 1999. A Wockhardt spokesperson declined to comment.
The government has suggested that the new Satyam Computer Services board should also look within the company to appoint a CEO and CFO.
Adani group plans to invest about Rs 1.3 lakh crore across its portfolio companies this fiscal as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, group CFO said on Tuesday. The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation and the remaining through debt, Group CFO Jugeshinder 'Robbie' Singh told reporters in Ahmedabad.
Ranganath has held several leadership positions.
The FMCG industry hopes for a revival in consumption growth in 2025 with some 'green shoots' already visible, after having a challenging year amid escalating input costs and a double-digit rise in food inflation, which ultimately slowed down the pace of the urban market growth in the second half of 2024. Soaring prices of commodities such as palm oil, coffee, cocoa and wheat forced FMCG players to go for a hike of 3 to 5 per cent or resort to shrinkflation by reducing pack sizes and grammage to retain attractive price points, fearing a volume loss.
Housing sales declined 5 per cent in the July-September quarter across the top eight cities due to a fall in new supply and sharp appreciation in prices, according to PropTiger. Real estate brokerage platform PropTiger.com, which is part of Australia's REA group that owns Housing.com, on Tuesday, released its report 'Real Insight' on India's residential market. A total of 96,544 units were sold in July-September, down 5 per cent from 1,01,221 units sold during the same period in 2023.
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.
Myntra founder Mukesh Bansal takes over as marketing chief.
An interview with Wipro's CFO and executive director Suresh Senapaty where he explains what the new structure will mean for the company.
HDFC Standard Life's CFO and ED Vibha Padalkar shares her success mantras.
IT services major HCL Technologies (HCLTech) on Monday reported a 10.51 per cent increase in consolidated net profit to Rs 4,235 crore in July-September quarter of FY25, as the company raised the lower band of its growth guidance on the back of better-than-expected performance. The Noida-headquartered firm had posted a net profit of Rs 3,832 crore in the year-ago period. HCLTech increased the lower band of its revenue growth guidance to 3.5-5 per cent year-on-year in constant currency, against a guidance of 3-5 per cent in the first quarter.
As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
Wipro CFO Suresh C Senapaty on Thursday said there is hope of corporate sector sentiments improving after P Chidambaram assumed charge as Union Finance Minister and wanted the Centre to convert it into policy action.
