'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
An earthquake of magnitude 4.8 struck 7 km north-northeast of Whitehouse Station, New Jersey, on Friday, the United States Geological Survey (USGS) reported.
Moody's Ratings on Thursday raised India's GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The estimate comes a day after RBI Governor Shaktikanta Das said the economic growth in the current financial year could be close to 8 per cent in view of the third quarter GDP data released by the government. The latest estimate of Moody's is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023.
'Our priority remains brownfield expansion, and in the next few years, we plan to increase our capacity to around 6,000 beds.'
IT company Wipro posted a 17 per cent jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30, 2021. The company had posted a net profit of Rs 2,484.4 crore in the same period a year ago. Wipro said that it has surpassed $10 billion (around Rs 75,300 crore) annualised revenue run rate.
'The Budget will be positive, continuing on the path of growth taken so far.'
The profit boost for studios will in large part be driven by the rush for local-language content from platforms like Netflix Inc
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
French organisers turned Paris into an open-air Olympic playground where everyone was invited, with or without a ticket.
The mutual fund (MF) gross inflows through the systematic investment plan (SIP) route topped the Rs 20,000 crore mark for the first time in a calendar month as investors opened a record 6.4 million SIP accounts despite a spike in market volatility. The number of accounts opened last month was almost 50 per cent higher than the registrations seen in March. "India's MF industry has reached yet another milestone with the SIP book crossing above Rs 20,000 crore in April 2024.
Action will be taken against such MLAs, he said.
At a time when the Indian startup space is going through a funding winter, marked by investors tightening their purse strings, angel investments in fledgling firms have maintained their momentum. While overall deal volumes among startups have fallen, investment activity among the country's most-active angel investors have been relatively steady. We Founder Circle (WFC), a Mumbai-based network of angel investors, emerged as the most-active angel investment platform for the second consecutive year in 2023 with 82 investments.
Foreign portfolio investors (FPIs) from Mauritius may face higher scrutiny after the amendment in the India-Mauritius tax treaty introduced a principle purpose test (PPT) to prevent treaty abuse by taxpayers. The Mauritius government had in February decided to amend the double taxation avoidance agreement (DTAA) with India to align with the Organisation for Economic Co-operation and Development's proposal on base erosion and profit shifting. Although the agreement between India and Mauritius was signed on March 7, the protocol of the amendment was made public for the first time on Wednesday, said legal experts.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
Delhi Chief Minister Arvind Kejriwal 'directly used' part of the alleged Rs 100 crore generated from the 'kickbacks' of the Delhi excise policy 'scam' by staying in a luxury hotel in Goa, the Enforcement Directorate (ED) has claimed in its charge sheet filed against the Aam Aadmi Party supremo.
Active largecap funds, which have the toughest job in terms of outperforming the benchmark, did better in 2023 as their bets in the mid and smallcap stocks paid off.
State-backed Life Insurance Corporation of India (LIC) recorded strong growth in the value of new business (VNB) margin in the third quarter of financial year 2023-24 (Q3FY24) while major listed private life insurers reported a weak performance. VNB refers to the profit that an insurer is likely to garner from new business, which comes from policies sold in a particular period. VNB margin is the profit margin of the insurer.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Akhilesh Yadav said those who are looking for "profit" in the situation will leave.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Mondelez, Coca-Cola, PepsiCo and Nestle India have been working on bringing down the sugar, salt, and sodium content.
The Enforcement Directorate, which has been investigating the Mahadev app-linked money laundering case for more than a year, alleged in the past that its probe has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, where the two main promoters of the app hail from.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
Kejriwal was produced in the court by the CBI after the end of his three-day custodial interrogation.
The important thing to remember here is that his action reflects on him and what kind of a person he is; it does not highlight your worth, counsels rediffGURU Ravi Mittal.
The top 100 companies have accounted for 63% of the gains (Rs 51 trillion out of Rs 81 trillion), while firms beyond the top 100 have contributed 37 per cent (Rs 30 trillion).
Strong deal wins and a good pipeline positions TCS very well in the new fiscal, TCS chief operating officer and executive director N Ganapathy Subramaniam said.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
IndiGo has restored annual increments for more than 4,500 pilots as a financial turnaround helped the airline make a profit in Q3 FY23 after three quarters of loss. An email from the airline's management last week informed pilots of the restoration from April. "The component of annual increment for Indian captains (Rs 10,000 per month) and Indian first officers (Rs 5,000 per month) on the Airbus and ATR fleet which was stopped due to Covid will restart from April 1, 2023," the airline's senior vice president (flight operations) Ashim Mitra said in the staff email.
Jobs specialising in the creation and management of AI tools may witness rising salaries due to the niche expertise they require. Skills in AI research, development and the practical application of AI tools in business settings will also see strong demand.
'The news about the new virus strain in the UK provided them with an opportunity to take money off the table.'
'Corporations that were recruiting 15 or 20 [students] have reduced the number to two or three.'
'The BJP's numbers in this government are almost the same as those enjoyed by the Congress under P V Narasimha Rao when the reform process was kicked off in 1991.' 'As before, the only constraints on the prime minister's actions are internal, not external.' 'They come from his own assessment of the political consequences of any action,' points out Mihir S Sharma.
Revenue of the Mumbai-based firm grew 18.5 per cent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
The Enforcement Directorate has summoned actor Ranbir Kapoor for questioning on Friday in connection with Mahadev betting application money laundering case of Chhattisgarh, officials said Wednesday.
