Industries such as aviation and hospitality have many silos within them and Aionos, the joint venture between Interglobe Enterprises (IGE) and Assago Group, is an attempt to bridge them and boost efficiencies using artificial intelligence (AI) solutions, Rahul Bhatia told Business Standard on Tuesday. Bhatia, the Group Managing Director of IGE, serves as the majority shareholder in India's largest airline, IndiGo. Additionally, IGE operates 21 hotels under the Ibis brand and runs a logistics company called Movin.
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
Indian private equity funds raised $1.5 billion up to June 2003 as against $1.60 billion in the entire 2002, indicating signs of a pick-up in venture fund activity.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
Adani Enterprises Ltd, the flagship incubator of billionaire Gautam Adani's conglomerate, on Thursday reported a 37 per cent drop in March quarter net profit, bogged down by one-time past airport dues and commercial mining losses. Its consolidated net profit of Rs 450.58 crore in January-March - the fourth quarter of fiscal year 2023-24 - compares to Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a stock exchange filing by the company.
UK fashion retailer Superdry on Wednesday said it will sell its intellectual property assets in South Asia to Reliance Retail for 40 million pounds (Rs 402 crore) through a joint venture. Superdry, whose fashion line mostly includes sweatshirts, hoodies and jackets, will own 24 per cent of the joint venture while Reliance Retail, India's largest retailer, will have the remaining 76 per cent. Under the agreement, Superdry's brand IP assets in South Asia will be permanently transferred to the new JV entity.
The Adani group plans to bid for setting up duty-free shops at the Macau international airport, as India's largest airport operator spreads its wings overseas. In a stock exchange filing, Adani Enterprises, the flagship firm of the conglomerate run by billionaire Gautam Adani, said it has completed the incorporation of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau on November 20. The subsidiary has been incorporated for the purpose of getting into the duty-free industry.
In an interview with Ranju Sarkar, the founders of Stellaris Venture Partners -- Ritesh Banglani, Alok Goyal and Rahul Chowdhri -- share discuss their unique founder network and why they are bullish on India.
Disney had bought digital and streaming rights to show the ICC's tournaments in India
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
The exports in 2022-2023 was $79 billion, compared to imports of $50 billion.
It is raining private equity funds in the logistics and warehousing space.
This is the first cyclone in the Bay of Bengal this pre-monsoon season.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
A deep depression over the Bay of Bengal intensified into a cyclonic storm, named Remal, on Saturday evening and is likely to turn severe before making landfall between the coasts of West Bengal and Bangladesh on Sunday midnight, the India Meteorological Department (IMD) said.
Generative artificial intelligence (AI), climate tech and fintech sectors will be the hot areas for venture capitalists and founders in the next year, according to the prediction by Prashanth Prakash, founding partner of the global venture capital firm Accel Partners in India and the chairperson of Karnataka Startup Vision Group. Prakash said that about $25 billion has been invested into building Gen AI globally. But a lot of that capital has not yet come to India, opening up huge opportunities for startups in the country.
'In the next 15-20 years, India will have at least 50 new (AI-driven) billion-dollar companies that are going to solve problems for the largest companies around the world.'
Upstream majors ONGC and Oil India (OIL) results for the January-March quarter (Q4) of FY24 suggest better production in future. But OIL missed its own production targets although it delivered higher volumes and it disappointed the market in terms of Ebitda. ONGC reported standalone Ebitda of Rs 17,400 crore (up 7 per cent year-on-year or Y-o-Y) in Q4FY24, slightly below estimates due to other higher expenses.
Seventy two years ago, a newly independent India ventured to hold the the first Asian Games in Delhi with meager resources.
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
Flush with cash and stung by the rising value of the rupee against the US currency, Indian information technology companies are venturing into diverse geographies -- from Brazil to Ecuador.
'Our research shows that 60 per cent of the growth and interest in anime will come from India for the next few years.'
The past few years have seen the first cycle of mergers and acquisitions, exits, and track-records being created.
Private equity and venture capital funds' investment in the country continued to fall in May, with the overall values declining by nearly 44 per cent to $3.5 billion, a report said on Monday. The dedicated funds had invested $6.2 billion in May 2022 and $7.4 billion in the preceding month of April 2023, representing a dip of 44 per cent and 52 per cent, respectively, as per the report by industry lobby IVCA and consultancy firm EY. "Despite a recovery of sorts being seen in tech sector indices and some of the large global tech names, sentiment in India for tech sector investments has been lacklustre, and fundraising by Indian startups has been sluggish," the firm's partner Vivek Soni said.
Despite Dharavi being located in the Mumbai North Central constituency and Mahalaxmi Racecourse in South Mumbai, the issues have caught the attention of all parties and their candidates.
'Which is growing fast and where we are very strongly positioned.'
As per information available with the Corporate Affairs Ministry, the new company was incorporated on November 5 with a total paid up capital of Rs 500,000 and has been registered in New Delhi.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The Delhi high court on Thursday refuses to entertain a public interest litigation (PIL) seeking the removal of Arvind Kejriwal as chief minister following his arrest by the Enforcement Directorate in the excise policy-linked money laundering case.
Aviation watchdog Directorate General of Civil Aviation (DGCA) has asked Vistara to submit a daily report on flight cancellations and delays as the Tata group airline cancelled more than 50 flights for the second straight day on Tuesday amid non-availability of pilots.
An Indian American Silicon Valley entrepreneur has launched a unique initiative designed to get techies to volunteer their time to develop software and applications that will benefit people in India and other developing countries.
ICICI Venture denied the allegations, noting it had extended the lifespan of the Dynamic India Fund III by three years
The Indian entrepreneurship success story will soon see one more company debuting on the public markets. Ola Electric, the electric vehicle (EV) company, has become the first such firm that has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its initial public offering (IPO). This is a fresh issue of equity shares of up to Rs 5,500 crore and an offer for sale (OFS) of more than 95 million equity shares at a face value of Rs 10.
Alternative investment funds (AIFs) have not seen any significant redemptions from financial institutions even though the 30-day timeline provided by the Reserve Bank of India (RBI) to liquidate their holdings or make full provisions ends recently. Sources said the industry is awaiting certain relaxations or extensions based on the recommendations submitted to the banking regulator. On December 19, the RBI restricted financial institutions and banks from investing in AIFs where there is any downstream link or exposure to a debtor firm.
The Congress has not released a poll manifesto but a declaration of appeasement.
India's iconic Vande Bharat train project may finally find a solution to its two Russian-related issues.
A virgin Motera pitch has become the big talking point as captain Virat Kohli looks to get the combination right with India looking to continue their momentum to trouble England in the day-night third Test match, starting in Ahmedabad, on Wednesday.
'This may open up doors for private players in India to collaborate with global players in commercial missions.'
Maharashtra has signed MoUs totalling Rs 1.4 lakh crore at Davos on the sidelines of the World Economic Forum Annual Meeting, following Chief Minister Eknath Shinde's meetings with a number of business leaders, the state government said on Wednesday. Karnataka, too, signed MoUs with investment proposals to the tune of Rs 22,000 crore with seven companies.
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