IndiGo, India’s largest airline, has signed a long-term maintenance agreement with global aerospace company Thales to support its expanding fleet, the companies said in a statement on Wednesday. The deal covers IndiGo’s existing 430 Airbus A320 aircraft and a future order of over 800 A32X aircraft. Under the 11-year agreement, Thales will provide repair services for IndiGo’s avionics systems through its ‘Avionics-By-The-Hour’ and ‘Repair-By-The-Hour’ programmes. These solutions are designed to ensure that critical components are always available, helping the airline minimise downtime and keep more planes in the air. Repairs will be carried out at Thales’s newly opened avionics MRO…

The Supreme Court’s call for a revival fund to support stressed residential projects under insolvency is expected to mark a turning point for India’s housing cycle, potentially unlocking lakhs of crore worth of stuck supply and restoring confidence among home buyers. The aftermath of the NBFC crisis, pandemic-induced disruptions, and subsequent regulatory realignments has left over five lakh housing units stalled across India’s leading cities, showed industry estimates. These projects, spread across both metro and non-metro markets, represent one of the biggest bottlenecks in the country’s residential real estate cycle, locking up capital worth several lakh crore and keeping buyers…

Suzlon Group on Tuesday said it has secured an 838 MW order from Tata Power Renewable Energy, the largest order of this fiscal year, as part of its firm and dispatchable renewable energy project. This is also Suzlon’s second-largest order ever, following the 1,544 MW order from NTPC Green Energy, and demonstrates the growing role of FDRE projects in accelerating India’s energy transition, a company statement said. The 838 MW project will comprise 266 of Suzlon’s S144 wind turbines, each with a rated capacity of 3.15 MW, strategically located across Karnataka (302 MW), Maharashtra (271 MW), and Tamil Nadu (265…

India has a robust automotive industry that no longer requires protection from foreign competition through high import tariffs, said Ola Kallenius, chairman of the board of management at Mercedes-Benz Group AG. Speaking to ET, Kallenius urged the Indian government to lower tariffs for fuelling economic growth. He claimed that India has always been a “very high tariff country” and with talks underway with the European Union (EU) for a free trade pact (FTA), New Delhi should now “rethink that equation”. “Because India has built now in the automotive sector already such a strong ecosystem, especially from the underneath on the…

Markets regulator SEBI’s decision to classify Real Estate Investment Trusts (REITs) as “equity” for investments by mutual funds is a progressive step that will widen investors’ participation and strengthen this instrument. To enhance investment by Mutual fund schemes in REITs, the SEBI Board last week approved the amendments to SEBI (Mutual Funds) Regulations, 1996, for re-classifying REITs as “equity” and retaining the “hybrid” classification for the InvITs, for the purpose of investments by Mutual Funds and Specialized Investment Funds. Indian REITs Association (IRA), as well as top officials of listed REIT entities, Sattva-Blackstone sponsored Knowledge Realty Trust, K Raheja-sponsored Mindspace…

The government on Sunday announced the appointment of L Satya Srinivas, special secretary in the commerce ministry, as the executive director, India, at the Asian Development Bank (ADB). Srinivas, who is set to retire from government service in February 2026, will continue to serve as India’s ED at the ADB on a contract basis after that. He is being appointed for a total of three years from the date of his assumption of charge or until further orders, whichever is earlier, according to an order by the Department of Personnel and Training. His post-retirement service at the multilateral lender will…

New Delhi: A proposed high-end aluminium alloy project in Andhra Pradesh, jointly developed by Nalco and defence PSU Mishra Dhatu Nigam Ltd, has been found commercially unviable, according to a report. The proposed project with a capacity of 60,000 tonnes per annum is not commercially viable due to a lack of demand, low per capita aluminium consumption in India and a lower level of aluminium localisation in sectors such as aerospace, defence, marine and automotive. Utkarsha Aluminium Dhatu Nigam Ltd, a 50:50 joint venture of National Aluminium Company Ltd (Nalco) and Mishra Dhatu Nigam Ltd (MIDHANI), was set up in…

Can a soap maker slip in extra grams instead of lowering prices? Can an automaker spread tax breaks across its lineup while concentrating benefits on a single marquee model? Or can a consumer durables company fold a festival discount into a tax cut and call it compliance? These are not thought experiments. They are real questions corporate India is grappling with after the government trimmed Goods and Services Tax rates to boost demand. The move was meant to put more money in consumers’ pockets, but companies face a familiar headache: how to pass on the benefit without tripping over anti-profiteering…

Prime Minister Narendra Modi on Saturday inaugurated the Bairabi-Sairang railway line, connecting Mizoram’s capital Aizawl to India’s railway network for the first time. Calling it a “lifeline of transformation,” he said the project will revolutionise lives, boost trade and tourism, and strengthen connectivity across the Northeast and Southeast. Aizawl will be on India’s railway map from today, the Prime Minister said. “This is not just a railway connection but it is a lifeline of transformation. It will revolutionise the lives and livelihoods of people of Mizoram. Farmers and businesses of Mizoram can reach more markets across the nation. People will…

New Delhi: The Supreme Court on Friday was suggested to adopt a court-monitored hybrid resolution mechanism on the line of Amrapali and Unitech Groups but headed by former apex court judge Navin Sinha for completion of the Supertech Realtors’ ambitious ‘Supernova project’ in Noida. Supertech Realtors is a wholly owned subsidiary of the beleaguered realty major Supertech Ltd which is facing insolvency proceedings and is constructing a mixed-use real estate project ‘Supernova’ consisting of residential, commercial, office space, studio apartment, service apartment and shopping centers in Sector 94 of Noida. The building under the project is believed to comprise 80…

India’s coking coal imports are projected to grow significantly as the nation targets 300 metric tons (MT) of steel production capacity by 2030, according to the latest report by EY Parthenon in association with the Indian Steel Association (ISA). The report further states that India, the world’s second-largest steel producer, remains heavily reliant on coking coal, with the steel industry consuming 95 per cent of the demand. The blast furnace-basic oxygen furnace (BF-BOF) route, accounts for approximately 65 per cent of installed capacity and 58 per cent of actual production, with the steel industry consuming 95 per cent of India’s…

Maruti Suzuki welcomes the new GST rates, anticipating increased four-wheeler adoption. The company passes on the benefits to customers. Maruti also supports vehicle scrappage with incentives. MG Motor echoes similar sentiments regarding GST benefits. JSW Motor India sees increased customer interest due to the reforms. Electric vehicle adoption is rising, offering financial savings.

SpiceJet on Thursday said it has reached a settlement with Carlyle Aviation Partners, unlocking a total of $89.5 million to strengthen its financial position. As part of the agreement, the airline will receive $79.6 million in cash maintenance reserves for future aircraft and engine upkeep. In addition, it will get $9.9 million in cash maintenance credits that can be used to offset lease obligations. This agreement significantly enhances airline’s liquidity and supports its ongoing restructuring efforts, said SpiceJet in a press release. These liquidity enhancements are part of overall settlement agreement with Carlyle Aviation Partners and its affiliated entities, under…

New Delhi | Mumbai: India’s automobile dealers on Tuesday flagged the build-up of unsold stock as a critical threat to their financial health, warning that “dead inventory, thin margins and costly training” are undermining business viability across segments. Inventory indiscipline is one of the most pressing challenges for the sector, Federation of Automobile Dealers Associations (FADA) president CS Vigneshwar said Wednesday, addressing the 7th Auto Retail Conclave in New Delhi. “Dealer viability equals industry viability. Without viable dealerships, there can be no sustained customer satisfaction. That is why we ask OEMs (automakers) for inventory discipline aligned to transit days, not…

Apple’s 2025 event has finally unveiled the iPhone 17 lineup, and this year’s update is one of the most ambitious yet. With redesigned Pro models, a brand-new iPhone Air, and AI-driven features baked into iOS 26, the latest devices promise a leap forward in performance, photography, and design. From slimmer designs and record-breaking cameras to AI-powered software and best-ever battery life, the iPhone 17 series is a bold step forward for Apple. The Air introduces a new aesthetic, the Pro models bring professional-grade tools to your pocket, and the regular iPhone 17 makes premium features accessible to more users. For…

Cash-strapped Vodafone Idea (Vi) has again moved the Supreme Court, questioning the government’s move to raise an additional demand of Rs 9,450 crore toward Adjusted gross Revenue (AGR)-related dues until FY19. The instalment of the AGR dues, including the additional amount, is due by March 31, 2026. The telco challenged the additional demand by the department of telecommunications (DoT) citing earlier Supreme Court judgements, which had sealed the amount until FY17 and refused to alter or change the liability. Vi challenged the additional demand raised by DoT in respect of AGR, which allegedly runs counter to the apex court’s judgment…

The Indian pharmaceutical industry requires price increases, site and intellectual property (IP) transfers to deal with the prevailing uncertainty in the sector amid US tariffs, according to a report by Systematix Research. The report highlighted that tariff uncertainty continues to prevail, with companies unwilling to add capacities in the US. It stated, “Price increase, site and IP transfers are the three tools the industry requires to deal with the tariffs.” At the same time, raw material prices are correcting sharply in certain categories, particularly antibiotics, while customers are destocking to take advantage of lower prices. Overall, generic API prices have…

Vedanta Ltd on Monday said it has spent more than Rs 12,500 crore to boost metal manufacturing for the growing needs of the nation’s electric vehicle sector. The company produces a wide range of products, including aluminium, zinc, value-added alloys, copper, steel, nickel and ferrochrome. “To boost production of these critical enablers for the EV industry, Vedanta has spent more than Rs 12,500 crore. The investments include capacity expansion across aluminium smelter, boosting aluminium value-added products, setting up zinc alloy plant, roaster set-up for zinc production and ferrochrome capacity augmentation,” the company said in a statement. The company’s aluminium product…

Hero MotoCorp on Monday announced the appointment of Harshavardhan Chitale as the Chief Executive Officer of the company. The company said that the office of the Acting Chief Executive Officer held by Vikram Kasbekar has been relinquished and he will continue to serve on the board of Hero MotoCorp as Executive Director and Chief Technology Officer. Chitale brings with him more than three decades of global leadership across B2B and B2C sectors. He has an expertise in industrial automation, lighting, information technology services, and digital transformation. Chitale has successfully led large publicly listed and multinational corporations, driving growth, profitability, and…

German automotive group Volkswagen is looking at India as a potential market for its affordable small electric cars and is working with partners on how to best introduce them in the market, its CEO Oliver Blume said on Sunday. The group, which presented an all-electric small car family in its entirety for the first time at IAA Mobility, feels that the reduction of goods and services tax (GST) on automobiles in India makes the Indian automotive market, already the third largest, more attractive, Blume told on the sidelines of the event. Under the electric small car family, the VW Group…

Mumbai|Kolkata: Diwali is arriving early for shoppers as manufacturers, retailers and ecommerce platforms begin to roll out prices as per revised goods and services tax (GST) rates – even before they take effect September 22 – for cars, TV, ACs, apparel and footwear to help trade partners clear out pending inventory. This will also help reduce ballooned GST input credit on unsold stock. Mahindra & Mahindra has slashed prices across its range from this weekend, offering reductions of up to ₹1.43 lakh, it said on Saturday. To shield its channel partners, M&M has agreed to absorb 70% of the impact,…

SAR Televenture has signed a deal with L&T Finance to acquire an additional 19.93% stake in Tikona Infinet Private for Rs 149.50 crore. Under the agreement, Rs30 crore will be paid upfront, with the remaining amount will be settled through a share swap at the same price offered under an earlier pact signed with Tikona’s majority shareholders. The transaction is subject to regulatory approvals. In a statement Saturday, SAR Televenture said the deal will further consolidate its stake in Tikona, simplify the internet service provider’s shareholding, and support its long-term strategy in broadband and digital infrastructure. “This acquisition will pave…

Homegrown auto major Tata Motors Friday said prices across its range of vehicles will come down by up to ₹1.55 lakh with company deciding to pass on the entire benefit of the GST reduction to customers with effect from Sep 22, 2025. Tata Motors sells a range of vehicles from hatchback Tiago to midsized SUVs like Harrier and Safari. The benefits from GST cut will range from ₹75,000 on the Tiago, ₹80,000 on Tigor to ₹140,000 on the Harrier and ₹155,000 on the Nexon. Add as a Reliable and Trusted News Source

The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said GST reforms have brought significant relief to the diamonds and jewellery sector. The government’s decision to exempt imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) from IGST (previously 18 per cent) will ease working capital pressures and support manufacturers and exporters engaged in small-diamond processing, it said. In addition, the reduction of GST on jewellery boxes from 12 per cent to 5 per cent will lower costs for retailers and exporters, while making packaging and gifting more affordable for…

Mumbai: Unilever global chief executive Fernando Fernandez said the company has made a sweeping leadership reshuffle in India aimed at making the country its primary revenue growth driver alongside the US.“We have made decisive changes in terms of leadership in India. Priya is a person I trust 100% and will be a very important leader for Hindustan Unilever (HUL),” said Fernandez at the Barclays Global Consumer Staples Conference, indicating for the first time that the leadership change in the country was due to flagging sales growth over the past few quarters. He was referring to Priya Nair, who was elevated…

Aluminium extrusion manufacturers’ body ALEMAI on Thursday said the government needs to look at import duties, free trade pacts, and policies that promote domestic consumption so as to mitigate impacts of US tariffs. According to ALEMAI (Aluminium Extrusion Manufacturers Association of India) President Jitendra Chopra, India’s aluminium extrusion industry has an installed capacity of three million tonnes per annum, but utilisation remains at just 1.2 million tonnes. Imports account for more than 1.5 million tonnes, largely due to price differences, Free Trade Agreement (FTA) concessions, and duty-free access to value-added products under multiple HSN (Harmonized System of Nomenclature) codes. If…

New Delhi: Daibiru Corporation, a subsidiary of Japanese business conglomerate Mitsui OSK Lines (MOL), is looking to invest in India’s growing data centre business even as it continues to explore office buildings in Mumbai and Pune for acquisition, a senior executive said. The firm has already invested close to ₹2,000 crore across two office building transactions in Gurugram and Chennai. “We don’t have a set target for India, but between the UK, Australia, Vietnam, Japan and India, our real estate vertical will continue to invest. In addition to office buildings, we would now like to diversify, and data centres are…

Health products maker Cupid Ltd on Wednesday said it expects a revenue of more than Rs 100 crore to accrue from exports in the coming quarters. The international order book will be executed in the second and third quarters of 2025-26, the contraceptive products manufacturer said in a statement. The current B2B export order book is at USD 11.50 million which is equivalent to Rs 100 crore plus, across three key products segments,” Cupid said in a statement. “These orders are from international government tenders in South Africa, Tanzania, and Kenya, as well as from international agencies WHO/UNFPA, NGOs like…

Following the recent meeting between Prime Minister Modi and President Xi, Indian and Chinese companies are actively pursuing joint ventures in sectors like electronics and automobiles. Haier’s stake sale in its Indian subsidiary is gaining momentum, while Dixon Technologies anticipates approvals for joint ventures. The auto sector expects eased import restrictions, fostering a positive sentiment among Chinese companies towards India.

Adani Power on Tuesday said it has received the coal ministry approval to commence mining operations at Dhirauli mine in the Singrauli district, Madhya Pradesh. This significant development will provide Adani Power with enhanced raw material security, reinforcing its leadership position in the sector, a company statement said. According to the statement, Adani Power has received approval from the Ministry of Coal to begin operations at the Dhirauli Mine in Singrauli district. Dhirauli Mine, owned by Mahan Energen Ltd, a subsidiary of Adani Power, boasts a peak production capacity of 6.5 MTPA, including 5 MTPA from open-cast mining and the…

Mumbai | Kolkata: Several clothing retailers from Marks & Spencer and H&M to Zudio and Lifestyle are facing short supplies in their stores nearly three months after India banned road imports of readymade garments from Bangladesh, industry executives said. Readymade garments from the neighbouring country are now allowed only through seaports of Kolkata and Nhava Sheva in Mumbai. While the policy change has led to delays of 2-3 weeks in merchandise sourcing, especially in lower-priced fashion, the impact is felt now as retailers start stocking fresh collections alongside end-of-season sales. “The shortfall is more visible now,” a senior executive at…

Maruti Suzuki commenced the exports of eVITARA, Suzuki’s first Battery Electric Vehicle (BEV) in August. The company shipped over 2,900 units of the new model from Pipavav Port in Gujarat to 12 European countries. United Kingdom, Germany, Norway, France, Denmark, Switzerland, Netherlands, Sweden, Hungary, Iceland, Austria, and Belgium are set to receive ‘Made in India’ models of eVITARA. A preview of the eVITARA was done earlier in Milan, Italy, and at Bharat Mobility Global Expo in New Delhi, India. On August 26, Prime Minister Narendra Modi flagged the production of e VITARA at the company’s manufacturing facility in Hansalpur, Gujarat.…

New Delhi: The pharmaceutical industry may get relief on the long-standing issue of Goods and Services Tax (GST) inversion, with recent discussions between companies and the government pointing to a favourable solution as part of GST reforms, people aware of the developments told ET.Several representatives from the pharmaceutical export industry recently met the GST Council to present their concerns around the inverted duty structure that, the industry claims, has been troubling pharma companies for years. At present, finished medicines (formulations) attract GST of either 5% or 12% while Active Pharmaceutical Ingredients (APIs) are taxed at 18%. This mismatch results in…

Logistics and courier services operator DTDC Express is expecting its e-commerce segment to account for around 50 per cent of its overall business as the company bets big on the rapid commerce amid customers looking for quicker deliveries of their orders. The company which officially launched its rapid commerce vertical Raftaar earlier this month to offer deliveries as fast as 4-6 hours time, also plans to set up 125 dark stores in the next three quarters to cater to the customers’ expectations, DTDC Express CEO Abhishek Chakraborty told PTI. “Rapid commerce, as we were describing today, is a sweet spot.…

Famous Studios, the iconic south Mumbai property that has been a hub for India’s film, television and advertising shoots since 1946, is set to change hands through a transaction valued at around ₹650 crore, said persons with direct knowledge of the development. Realty developer K Raheja Corp is in advanced talks to acquire the 1.5-acre property, located on Dr E Moses Road overlooking Mahalaxmi Racecourse, a landmark address that has hosted generations of Bollywood and advertising professionals. “The company is set to conclude the deal structured as a joint development pact for the consideration involving a certain part of developed…

Torrent Power on Saturday said it has received a letter of award from MP Power Management Company for the supply of power from its planned 1,600 MW coal-based plant. Torrent Power will invest approximately Rs 22,000 crore in the project making it the single-largest investment by the Torrent Group in the power sector. The Letter of Award (LoA), the company said, was awarded post participation in the competitive bidding process, conducted by MPPMCL, at a tariff of Rs 5.829/kWh, the company said. The company will set up a greenfield 2×800 MW Ultra-Supercritical power plant in Madhya Pradesh and supply the…

Maharashtra and Andhra Pradesh have emerged as the top-performing states in the State Energy Efficiency Index 2024 (FY24), with overall scores of 80.5% and 79.3%, respectively. They were followed by Karnataka, Telangana and Tamil Nadu, according to a report released by the Bureau of Energy Efficiency (BEE) under the power ministry. To align with global commitments, including those made at COP28 and the G20’s energy efficiency goals, India had introduced the State Energy Efficiency Action Plan. The plan emphasises the implementation of localised energy efficiency measures and highlights the need for close coordination between the Centre and the states. Five…

Pharmaceutical firm Murae Organisor said it is evaluating a structured plan to strengthen its agro-sector presence through R&D and infrastructure-led initiatives with an investment of around Rs 80 crore. The proposed plan reflects the company’s commitment to transforming into research enabled, forward-integrated agri enterprise, the Ahmedabad-based company said in a statement. The company is considering investments across key focus areas, including the establishment of an Agro R&D Laboratory, development of agro processing and packaging infrastructure for around Rs 30-35 crore and implementation of digital traceability systems, Murae Organisor said. Total estimated investment, including working capital needs, will be around Rs…

New Delhi: India’s mobile phone industry has reached out to Prime Minister Narendra Modi to reduce the goods and services tax (GST) on handsets to 5%, saying they have already paid an additional ₹81,800 crore from 2020-21 to 2024-25 due to an increase in the levy in 2020 to 18%. In a letter dated August 25, exclusively seen by ET, the industry said smartphone sales in India have stagnated at around 150 million per year since 2021 and they are also exploring various methods to enhance affordability and accessibility of handsets. “Mobile phones, being the most empowering devices, were expected…

Billionaire Rakesh Gangwal’s latest attempt to pare his stake in IndiGo faced a surprise on Thursday, as the size of his share sale was reduced — a rare move for the Indian carrier, whose stock ranks among the world’s most valuable airlines. Gangwal and the Chinkerpoo Family Trust offloaded 7.56 million shares or 1.96% stake in the low-cost carrier, raising about 43.9 billion rupees ($501 million), according to the terms of the deal seen by Bloomberg News on Thursday. This is less than the earlier plan to sell 12.1 million shares worth over $800 million, the terms showed on Tuesday.…

The All India Digital Cable Federation (AIDCF) has urged the government to reduce the goods and services tax (GST) on cable television services to 5% from the current 18%, citing mounting financial stress on operators and increasing costs for consumers. In a letter to finance minister Nirmala Sitharaman, the federation said the cut would align with Prime Minister Narendra Modi’s vision of next-generation GST reforms while ensuring affordability for millions of households. Cable TV continues to reach more than 64 million households and supports 1-1.2 million livelihoods, according to the AIDCF. However, the industry has come under pressure from steep…

The Association of Senior Living India (ASLI) will reach out to the state governments to adopt senior living policy introduced by the Haryana and Maharashtra government where the developer gets benefit on stamp duty, GST and parking. The developers are also pushing for assisted living policy so that they don’t have to take license for nursing home to run a care home for those who have come out of the hospital post treatment. The senior care industry is projected to reach approximately 50 billion USD by 2030, growing at a compound annual rate of 20% while the senior living industry…

MUMBAI: The Welspun Group has filed a plea before the Mumbai bench of National Company Law Tribunal (NCLT) citing past defaults to seek the disqualification of top bidder Valor Estates in the debt resolution for Lavasa Corp, which was building what had then been billed as Independent India’s first planned hill city. The interlocutory application, filed through a Welspun subsidiary, also highlighted links between Valor’s promoters and another defaulting debt-laden jeweller, links the plea claimed automatically disqualify the bidder to participate in any resolution process. The plea, which ET has seen, cites Valor’s ineligibility under Section 29A of bankruptcy code.…

JSW Steel has incorporated a joint venture with Andhra Pradesh Mineral Development Corporation Limited (APMDC) for an iron ore project in Andhra Pradesh, the company announced on Tuesday. The joint venture company – APJSW Private Limited – is formed to set up Konijedu Marlapadu Integrated Iron Ore Project at Andhra Pradesh to mine and beneficiate low-grade iron ore. With this partnership, JSW Steel and APMDC plan to invest Rs 1,075 crore to set up the iron ore project. “The beneficiated iron ore concentrate available to JSW is expected to be 1.3 million tons per annum and would replace the imported…

New Delhi: The government has enlisted Goldman Sachs as the transaction advisor for divesting its stake in Indian Overseas Bank (IOB), Central Bank of India, UCO Bank, and Punjab & Sind Bank, said a person aware of the details. The Centre currently holds more than 90% in each of the four banks. The global investment banking firm will be tasked with identifying potential bidders for the government’s stake in these banks and structuring suitable deals to ensure smooth execution, the person said. The stake dilution exercise, apart from signalling the Centre’s commitment to disinvestment, will also help state-run banks meet…

As veteran banker Rajiv Anand assumes the role of Chief Executive Officer of IndusInd Bank on Monday, the private lender announced the dissolution of its interim committee. The committee had been formed after the exit of CEO Sumant Kathpalia and deputy Arun Khurana, who resigned in the wake of misaccounting related to internal derivative trades. Commenting on the development, Sunil Mehta, the Chairman of the Board of Directors, IndusInd Bank said “During this interim period, the Bank has made robust progress ascertaining root causes of legacy issues and addressing control gaps. The Board also made significant progress in assessing individual…

In Bollywood, where action-crime thrillers dominated content consumption for the past several years, the unexpected success of the mid-budget film Saiyaara is giving confidence to filmmakers to tread the familiar lanes of romance once again. The latest romantic offering from the Hindi film industry is Maddock Films’ Param Sundari. A film which contrasts the world of modernity with that of gravitas, stillness and quiet wisdom, it explores the romance between a north Indian man and a southern girl. “It’s not just a love story; it’s also about what today’s youth may be losing sight of in a world run by…

An investigation by the Central Bureau of Investigation (CBI) into industrialist Anil Ambani and his company Reliance Communications has no impact on Reliance Power and Reliance Infrastructure, the two companies said in separate releases on Sunday. The clarification comes a day after CBI conducted search operations in Mumbai at Ambani’s house and the offices of the now-insolvent Reliance Communications on Saturday following complaints by the State Bank of India (SBI) about alleged fraud of Rs 2,929 crore, the agency said. Anil Ambani, through a spokesperson, said on Saturday he strongly denies all allegations and would defend any charges. Also read:…

Mumbai: The sanctions imposed by the European Union and the United States are beginning to impact Nayara Energy’s engineering, procurement and construction (EPC) work, according to people with knowledge of the development. In the past month, two companies-France’s Technip Energies and Indonesia’s PT Timas Suplindo-have decided to stay away from EPC tenders of Nayara Energy, they said. Queries emailed to Nayara Energy, PT Timas Suplindo and Technip Energies did not elicit any response till press time. Technip Energies could have been one of the players for the front-end engineering design for Nayara Energy’s polypropylene segment, but instead decided to stay…

The proposed cut in goods and services tax (GST) rates is being welcomed by consumers, but companies across sectors are reporting a slowdown in sales as buyers wait for lower prices ahead of PM Modi’s Diwali gift promise. The changes, if approved, may also create new challenges for India’s electric vehicle (EV) industry. Retailers say demand that usually picks up from Ganesh Chaturthi and Onam has remained muted this year, Times Of India (TOI) has reported. Many buyers are postponing purchases, expecting prices to fall once the GST Council finalises the rate cuts. “We are worried as the festive opening…

MUMBAI: Exempting life and health insurance premiums from the Goods and Services Tax (GST) could leave policyholders paying less, but the move may also squeeze insurers’ margins and prompt them to rework pricing. A group of ministers has recommended entirely removing the current 18% GST on insurance. At first glance, this appears to be a direct saving for customers. But industry executives caution that insurers will lose input tax credit (ITC) on expenses such as commissions, rent, power, and telecom bills, which currently offset a part of their tax outgo. In protection products, commissions initially range between 35% and 40%…

Kolkata will witness a major boost in urban infrastructure on Friday as Prime Minister Narendra Modi inaugurates three new metro stretches and lays the foundation stone for a key expressway project. The projects are expected to reduce travel time, decongest roads, and improve connectivity across the city, including a long-awaited direct metro link to the airport. 10 key facts about the new projects Metro network expansion – A total of 13.61 km of metro lines will be inaugurated, one of the largest single-day additions to Kolkata’s transport system. First direct airport link – The Noapara–Jai Hind Bimanbandar stretch (Yellow Line)…

New Delhi: Consumer goods company Hindustan Unilever on Thursday named Niranjan Gupta its chief financial officer-designate and a member of the management committee with effect September 1. Gupta, a former chief executive of two-wheeler maker Hero MotoCorp who had started his career at HUL, will take over from Ritesh Tiwari as executive director-finance and CFO on November 1, company said in a news release. Tiwari has been named global head of M&A and treasury at HUL parent Unilever effective November 1. Gupta has experience across finance, M&As, supply chain and strategic roles in diverse industries. Following his initial two-decade stint…

EPC player Transrail Lighting on Thursday said it has secured new orders worth Rs 837 crore in domestic and international markets. The orders have been secured by the transmission & distribution (T&D) segment of the company, Transrail said in a statement. “These wins propel the company’s FY26 cumulative order inflows to over Rs 3,157 crore, marking a 57 per cent year-on-year growth,” the company’s MD and CEO Randeep Narang said. In addition to this, the company has also received an order from a large international customer for supply of engineered products. Mumbai-based Transrail Lighting is an EPC (engineering, procurement, and…

New Delhi: The Niti Aayog has flagged the issue of incompatible gasification technology for the high ash content coal available in India, saying the on-ground progress on coal gasification has been limited despite issuance of letters of award. The government’s think tank will soon hold discussions with stakeholder ministries as well as domestic and international experts to select the technology best suited for gasification of Indian coal to support commercial scale and viable deployment. NITI Aayog member VK Saraswat has written to coal secretary Vikram Dev Dutt, highlighting the challenges being faced by the public and the private sector in…

The Indian Railways is carrying out a major overhaul of its Passenger Reservation System (PRS), which currently has the capacity to book 25,000 tickets per minute, Railway Minister Ashwini Vaishnaw told Lok Sabha on Wednesday. In a written response to a question on PRS upgrades, Vaishnaw said, “Capacity enhancement and technological upgradation is an ongoing process of Indian Railways. Presently, the booking capacity of the current PRS is about 25,000 tickets per minute.” The comprehensive upgrade includes the replacement and enhancement of hardware, software, network equipment, security infrastructure, and functionalities, all built on new technology capable of supporting additional features.…

ET Intelligence Group: The stock of CreditAccess Grameen has gained nearly 12% over the past eight trading sessions after the country’s largest microfinance lender announced the appointment of Ganesh Narayanan as the new managing director and CEO on August 6 after RBI’s approval. The sector indices have gained over 1% during the period. The company has undertaken accelerated write-offs to clean up the loan book, which has resulted in higher credit costs. The situation is expected to normalise from the December quarter. Given the company’s plan to open 200 branches in the current fiscal year and receding pressure on asset…

Indian Oil Corporation (IOC) has signed a landmark agreement to supply sustainable aviation fuel to Air India, representing a significant step towards a greener and cleaner aviation in India. IOC plans to begin production of sustainable aviation fuel (SAF) from used cooking oil starting December this year at its Panipat refinery, according to Chairman Arvinder Singh Sahney. The facility is expected to produce 35,000 tonne of green fuel annually, using waste cooking oil sourced from hotel and restaurant chains such as ITC and Haldiram’s. SAF is an alternative fuel made from non-petroleum feedstocks that reduces emissions from air transportation. It…

Bengaluru: Apple Inc is expanding its India presence, having leased several office and retail store spaces across Mumbai and Bengaluru over the last two years, underscoring the country’s growing importance as both a consumption hub and manufacturing base for the iPhone maker. According to lease documents reviewed by ET, Apple and its partners have leased or committed to leasing almost a million square feet of prime real estate in marquee business districts and shopping centres since 2023. These include large-format office campuses in Bengaluru, premium mall stores in Mumbai and renewal of existing deals. Bengaluru has emerged as Apple’s largest…

Airtel users across several parts of India reported widespread network outages on Monday, with many facing issues with mobile data and voice services.As of 4:04 PM, outage tracking platform Downdetector recorded over 2,300 reports of service disruption from Airtel users across India, indicating a widespread network issue affecting both mobile data and voice connectivity. ET Online “We are currently experiencing a network outage, our team is actively working to resolve the issue and restore services promptly. We sincerely apologize for the inconvenience caused,” said the telecom giant in a statement.Many users expressed frustration over Airtel’s ongoing network issues, reporting problems…

Larsen & Toubro is undergoing a bold transformation—exiting legacy businesses, entering new ones, and betting on sectors like semiconductors, green hydrogen, and data centres—even as its core EPC business continues to drive megaprojects at home and overseas. In a candid conversation with ET, SN Subrahmanyan, chairman & MD, outlines the group’s “grow to sell, sell to grow” playbook, sharper capital allocation, technology-driven pivot, and a focus on building a younger, agile leadership. From real estate and defence to AI and chip design, Subrahmanyan maps out L&T’s next decade. Edited excerpts:How does L&T approach the challenge of sustaining long-term organisational relevance?L&T…

Union Minister of Road Transport and Highways, Nitin Gadkari, on Sunday affirmed that India’s logistics cost will come down to single-digit by the end of 2026.The logistics cost of India is 14-16 per cent, China’s is 8 per cent, and Europe and America have 12 per cent each, Gadkari said, addressing the event in the national capital that marked the inauguration of two major National Highway projects by Prime Minister Narendra Modi. “I want to assure the Prime Minister and all of you that before the end of 2026, the logistics cost of our country will come in the single…

When Rahul Vaidya noticed his 2019 Volkswagen Vento’s mileage drop from a steady 11-12 kmpl to just 7-8 kmpl, he initially blamed it on traffic. Or maybe it was the age of the car, he thought.Over time, he figured that the response to a dab on the accelerator wasn’t as crisp as it used to be. The ride felt heavier, and the fuel gauge continued to hover near E faster than ever. After months of living with these issues, he finally took his car to the service centre. The diagnosis was swift – his car wasn’t E20-compliant. In case you…

In 1981, the year Airbus SE announced it would build a new single-aisle jetliner to take on Boeing Co., the 737 ruled the roost.The US-made narrowbody, already in use for more than a decade, had reshaped the airline industry by making shorter routes cheaper and more profitable to operate. By 1988, when Airbus began producing its upstart A320, Boeing had built a formidable lead by delivering some 1,500 of its cigar-shaped best-seller. It’s taken the better part of four decades, but Airbus has finally caught up: The A320 series is poised to overtake its US competitor as the most-delivered commercial…

New Delhi: India is set to launch a deepwater exploration mission to boost domestic oil and gas output and reduce dependence on imports, Prime Minister Narendra Modi said in his Independence Day speech on Friday.A significant portion of the national budget is spent on importing fuel, and if that were not the case, the same funds could be used to create opportunities for the youth, the poor, and farmers, Modi said. “Now we are working towards becoming self-reliant,” he said. “We want to work in mission mode to search for oil and gas reserves in the sea. And so, India…

Mahindra & Mahindra has submitted a letter of interest to the Maharashtra government to acquire 350 acres of land in Igatpuri, Maharashtra, according to a top company official.The Mumbai-based automaker already has manufacturing plants in Nashik and Igatpuri. “We have submitted a letter of interest for 350 acres of land in Igatpuri, which is part of our ecosystem,” Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here. He stated that Nashik and Igatpuri plants could benefit from a feeder facility in the vicinity. “The land parcel could be used for multiple…

New Delhi: Germany’s Deutsche Bahn (DB) is evaluating opportunities to run and maintain high-speed trains in India, said Niko Warbanoff, chief executive officer.Speaking to ET, Warbanoff said DB has held discussions on bullet train projects. He added that the company is also looking to expand its presence in the Indian market for semi-high-speed Regional Rapid Transit System (RRTS). “We have held exploratory talks with Indian authorities for high speed projects,” Warbanoff said, without elaborating. India’s first bullet train corridor between Mumbai and Ahmedabad is being developed with funding from the Japan International Cooperation Agency (JICA). DB holds the operations and…

India’s state-owned miner IREL is seeking to collaborate with Japanese and South Korean companies to start commercial production of rare earth magnets, a source familiar with the matter said, as part of efforts to reduce reliance on China. The company is looking at both Japan and South Korea for rare earth processing technology, potentially through government-to-government channels, the source said, declining to be named as the discussions are not public. The miner aims to formalise talks with other countries on rare earth mining and technology partnerships and plans to seek IREL board approval for commercial magnet production this year, the…

Bengaluru: India’s retail sector is shifting from aggressive rollout to disciplined growth, as large chains enforce strict six-to-12-month profitability targets for new outlets and shut underperforming ones while global and digital-first brands look for high-footfall locations to boost offline presence. Established players such as Reliance Retail, Pantaloons, Westside, and Shoppers Stop have recalibrated their rollout plans, prioritising making every square foot count over store count. “Profitability is now the north star for expansion, but the 6-12 month performance review window may be too short – most stores need at least two years to mature, depending on geography” said Susil Dungarwal,…

New Delhi: Ola Electric is likely to announce its foray into the sports scooter segment on August 15 as part of its plans to expand its product portfolio, according to sources. The company plans to unveil the new range at its upcoming annual event on August 15. In the run-up to its annual ‘Sankalp’ event, the company on Wednesday dropped a teaser on what looks like a sportier version of its scooter line-up. As per sources, Ola Electric is gearing up to expand its portfolio with its entry into the sports scooter segment. According to people in the know, these…

Mumbai: The ministry of information and broadcasting (MIB) has set up a task force to combat piracy, which is estimated to cause an annual revenue loss of $2.5 billion to the media and entertainment business, a top industry executive said. MIB secretary Sanjay Jaju informed senior members of the Confederation of Indian Industry (CII) about the setting up of the task force during a meeting on Monday, said Gaurav Banerjee, the recently appointed chairman of CII’s National Council on Media and Entertainment. “I think it’s really urgent and important to tackle piracy. We have also heard from the government that…

Foseco is in talks to acquire Morganite Crucible in a cash and stock deal, according to sources aware of the matter. ET could not ascertain the value of the deal. The deal if it concludes will bring together the Indian arms of two global companies that serve similar industries such as metals and components manufacturing. As per the plan under discussion, promoters of Morganite Crucibles will become shareholders of Foseco, according to sources. This will be by way of a share swap. Public shareholders of Morganite Crucible will be offered cash if they wish to give up their shares in…

Trump’s Inauguration Day: What to expect Donald Trump’s second term as US President will begin with his inauguration on Monday. He plans to sign numerous executive orders and hold a campaign-style rally. Several foreign leaders are invited, and outgoing President Joe Biden will attend. The events are largely funded by Trump’s inauguration committee.

KPMG in India on Thursday announced the re-appointment of Yezdi Nagporewalla as Chief Executive Officer for three years beginning February 2027. In a time when the market is evolving rapidly, this decision underscores the India Board’s and the India Partners’ strong belief in continuity and a sharpened market focus as the firm continues the growth journey, KPMG India said in a statement. “KPMG in India today announced the re-appointment of Yezdi Nagporewalla as Chief Executive Officer for a second term, which will span three years, beginning February 2027,” the statement said. The extension will take effect immediately after the expiry…

Tata Motors group CFO PB Balaji’s elevation as Jaguar Land Rover CEO comes with a clear mandate: tighten the balance sheet, inject a strong focus on winning customers, and make the iconic British automaker more agile in responding to demand-supply volatility in the global automotive market. His appointment signals a strategic reset by Tata Motors, aimed at integrating JLR more deeply into the group’s broader growth plans. JLR is key to Tata’s ambitions, contributing 71% to the Mumbai-based automaker’s total revenue and 79% of operating profit. Executives close to the developments said both the internal combustion engine (ICE) and electric…

An RBI internal group has recommended continuation of overnight Weighted Average Call Rate (WACR) as the operating target of monetary policy. The group has also recommended to continue with the variable rate auction mechanism for repo and reverse repo operations of various tenors with the objective of maintaining the operating target rate at the policy rate. Report of the Internal Working Group (IWG) to review the extant Liquidity Management Framework, which has been in operation since February 2020, has been published on the RBI’s website for stakeholders’ comments till August 29. The 7-member IWG was headed by Deputy Governor Poonam…

Monthly SUV sales in India fell for the first time in more than five years in June, weighed down by IT sector layoffs, geopolitical uncertainties and macro challenges. The sport utility vehicle segment has been the key driver of demand in the passenger vehicle market for nearly a decade now. According to latest industry data for the SUV segment exclusively accessed by ET, sales fell by 2.1% from last year to about 175,000 units in June. Segment-wise passenger vehicle sales data is yet to be compiled for July. This is the first instance of a monthly decline in SUV sales…

Wheels India Ltd on Tuesday said its decision to establish a subsidiary in Europe is aimed at driving business growth in the region over the next three to five years. In July, the company announced plans to set up a European arm with a share capital of 50,000 Euros to support its expansion strategy and strengthen customer engagement in the region. Commenting on the move, Wheels India Managing Director Srivats Ram said, “The subsidiaries in the United States and Europe are part of our long-term strategy to focus on and leverage opportunities in these two geographies, across both auto and…

MUMBAI: Non-bank lenders have approached the central bank to ease, among other curbs, prescribed risk weights on products such as loans against property (LAP), arguing the risk profiles of such assets do not justify bracketing them together with unsecured exposures, or even plain-vanilla mortgages. “In our experience, losses on LAP have been significantly lower compared to housing loans, primarily because transaction risks tend to be higher in housing finance,” one of the two officials aware of the development told ET. “Risk weights for LAP should ideally be lower or, at very least, on a par with housing loans. In their…

Bollywood actor Aamir Khan has inked a rental agreement for four luxury apartments spread across two floors of a residential tower in Mumbai’s upscale Pali Hill neighbourhood. The twin agreements total Rs 24.5 lakh per month in rent, with a combined security deposit of Rs 1.47 crore. The actor has registered both leave‑and‑license agreements on May 20. The tenure of these agreements spans five years, from May 15, 2025, through May 14, 2030, with a lock‑in period of 45 months for both parties. An annual escalation of 5% has been agreed in both contracts. Each floor commands Rs 12.25 lakh…

India’s top 14 private and public sector lenders have seen their CASA (current accounts-savings accounts) ratios drop 150 basis points over the past one year. The immediate impact of this is visible on the net interest margins (NIM) at these lenders — down 18 basis points (bps) year-on-year in the June quarter, 14 bps sequentially, and 43 bps over the past two years. One basis point is a hundredth of a percentage point. Between Q1FY22 and Q1FY26, HDFC Bank, the country’s largest lender by market value, and IndusInd Bank each saw an 11-percentage point drop in CASA ratios, highlighting the…

Union minister Nitin Gadkari on Sunday said the mining policy being framed by the Centre would provide ease of doing business as all clearances will be given in three months so that the extraction process starts in the fourth month. He said all bottlenecks would be removed under the new mining policy. The Minister for Road Transport and Highways was speaking at the “India@100 charting Vidarbha’s journey to a Developed India” in Nagpur. Talking about various developments taking place in Gadchiroli district in Vidarbha in the fields of mining and steel, he said a mining policy was being framed by…

Bengaluru | Kolkata: When over half of colas sold in India have gone low or completely sugar-free (as per PepsiCo’s lead bottler Varun Beverages), can packaged food be left behind? While low-sugar or sugar-free food products may not be dominating sales yet, companies such as Britannia Industries, Nestle, Tata Consumer Products and Marico have driven a marked reduction in the level of sugar, sodium and fat in their products. There is also an increase in wholegrains and millets, vitamins and micronutrients in the products of these companies, including ITC and AWL Agri Business, as per disclosures in their annual, business…

The long-delayed Master Plan of Delhi will be implemented, turning vision into action, Delhi Chief Minister Rekha Gupta said at an event by the National Real Estate Development Council (NAREDCO). “Our government is committed to the holistic development of Delhi—better infrastructure, modern housing, world-class hospitals, vibrant markets, and safe opportunities for women. With the Central Government’s allocation of Rs 881 crore, we are determined to transform the capital into the progress city of India,” Gupta said. “We are equally committed to improving Delhi’s air quality through concrete measures-planting 70 lakh trees, deploying 1,000 water sprinklers, introducing 70 mechanical sweeping machines,…

The Mahindra Group has announced a one-time employee stock ownership plan (Esop) grant for 12,000-14,000 employees, including shop floor workers for the first time ever. The move across three core companies—Mahindra & Mahindra (auto and farm sector), Mahindra Electric Automobile and Mahindra Last Mile Mobility —comes amid surging sales and profit on the back of hit products such as the Thar driving the M&M stock up more than 12 times in five years. Mahindra has also overtaken Hyundai to become the country’s second biggest manufacturer of passenger vehicles, thanks to its range of SUVs. The Esops will help broad-based wealth…

Edtech firm Extramarks Education has started rolling out AI-powered education suite Extra Intelligence across its network of partner schools. The company claimed to have become first education firm to integrate AI meaningfully across the school ecosystem — from the classroom to after-school learning. “Extramarks has begun rolling out these features across its network of partner schools,” the company said in a statement. The suite provides tools such as Teacher Assistant that can enable educators to easily tailor digital lessons to their unique teaching style by adding real-world context, inserting custom examples, and delivering concepts through rich, animated, and interactive content.…

The incredible box-office success of mid-budget Hindi film Saiyaara has sent ripples across Bollywood at a time when fear of failure has gripped the industry after months of mostly flops, kindling hopes of a turnaround. Emerging as a ‘silent storm’ with minimal promotion, Saiyaara has collected Rs 274 crore in just 14 days since release, sparking curiosity among filmmakers and audiences alike. The film was made on a reported budget of Rs 45 crore. Interestingly, Kannada horror-comedy Su from So that employed a similar strategy of minimal promotion, also found success, collecting Rs 17.8 crore in a week. In this…

Gautam Adani’s wealth from the realty business has declined 7 per cent to Rs 52,320 crore in the year to June 2025, making the billionaire the third wealthiest in the sector, a report said on Thursday. Adani, who is among the wealthiest Indians with projects like Dharavi and Motilal Nagar redevelopments in the financial capital, is also set to be the wealthiest realty sector individual in the next five years, officials from Hurun Research and Grohe said, citing informal discussions. At present, DLF’s Rajiv Singh is the wealthiest on the Grohe-Hurun India Real Estate 150 list with a fortune of…

Mumbai: As blockbuster weight-loss drugs Wegovy (semaglutide) and Mounjaro (tirzepatide) reap billions of dollars on hysteric demand for innovators Novo Nordisk and Eli Lilly, more pharma companies — big and small — are racing to join the frenzy. As many as 170 new anti-obesity drugs are in various stages of development — from preclinical evaluation to advanced trials — though medical experts advise caution against their harmful effects due to reckless self-medication. Data collated from the obesity drugs tracker of Stat News, a popular Boston-based website on medical and healthcare analytical and investigative news, show Amgen, AstraZeneca, Boehringer Ingelheim, Roche…

The Ministry of Information & Broadcasting (MIB) has blocked 43 OTT platforms for violating India’s digital content regulations, citing the spread of explicit, adult, violent, and culturally insensitive material. Union Minister for Information & Broadcasting Ashwini Vaishnaw confirmed the enforcement action in the Lok Sabha on Tuesday. In February 2025, the MIB issued an advisory urging platforms to comply with the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. These rules mandate a Code of Ethics, age-based content classification, and safeguards against unlawful material under the IT Act, 2000. On July 23, a day before submitting its…

Mumbai: Tata Motors is all set to buy Italian truck maker Iveco from its principal shareholder, the Agnelli family, for $4.5 billion (3.9 billion, making it the Tata Group’s second-largest acquisition after Corus and the largest ever for the automobile major, people aware of the discussions told ET. In 2008, Tata Motors bought Jaguar Land Rover (JLR) for $2.3 billion. A formal announcement on the takeover is expected as early as Wednesday, said the people cited above. The boards of Tata Motors and Turin-based Iveco are meeting on Wednesday to approve the transaction, said the people cited above on the…

New Delhi: Three directors and two senior executives, including the head of Health, Safety, and Environment (HSE), have resigned from Russian energy giant Rosneft-backed oil refiner Nayara Energy after the company was sanctioned by the European Union, sources aware of the matter said. Victoria Cunningham, Avril Mary Anne Conroy and Jorg Tumat, who were on the board of directors of Nayara Energy, have resigned earlier this month, the sources said. Besides, Barbara (Hofbauer) Oberhauser, who was senior vice president and Head HSE, too has resigned. The resignations follow chief executive Alessandro Des Dorides quitting the company shortly after the European…

Mumbai: India’s television broadcasting sector is facing a period of turbulence, with both advertising and subscription revenues coming under pressure. A slowdown in advertising spends by fast-moving consumer goods (FMCG) companies, long considered the backbone of TV advertising, has weighed heavily on broadcasters already contending with structural shifts in audience behaviour and distribution. Advertising and promotion expenses falling to ₹6,199 crore in FY25 from ₹6,489 crore in FY24 for Hindustan Unilever, the country’s largest FMCG advertiser. Britannia’s dropped to ₹560 crore from ₹694 crore. ITC’s consolidated advertising and promotion expenses declined to ₹1,331 crore in FY25 from ₹1,385 crore in…

Weight loss isn’t one-size-fits-all. From metabolism and muscle mass to hormones and fat storage, here are 7 key differences in how men and women lose weight.

New Delhi: Samsung’s exports of smartphones slumped by almost a fifth year-on-year in the first quarter of FY26, likely because the South Korean major is no longer eligible for benefits under the smartphone production-linked incentive (PLI) scheme since April. According to industry executives, without the PLI incentives, Samsung may have lost export competitiveness and thus recalibrated its export plans. And the same could happen to Apple and Dixon Technologies – two other major beneficiaries of the scheme – after March 2026. “The combined effect of all three – who have been the flagbearers of the PLI scheme and local manufacturing…

New Delhi: State-run BSNL is working on a plan to install 4,000 new mobile towers in Naxalite-affected areas of Chattisgarh, Minister of State for Telecom and Rural Development Pemmasani Chandra Sekhar said on Sunday. The minister shared the information during a three-day visit to in Chhattisgarh to review central government schemes, including Aspirational District programme, and projects under telecom and rural development ministries. “The central government is working on a plan to install 4,000 new BSNL towers in the Naxalite-affected and remote areas of Chhattisgarh to strengthen digital communication. This information was shared by Union Minister of State for Rural…

Mumbai: Last month’s plane crash in Ahmedabad has made fliers nervous. “After a tragedy like this, fear of flying naturally spikes,” said Shefali Batra, a leading Mumbai-based psychiatrist. While investigations continue into whether pilot error or a mechanical fault with the Air India Boeing 787 Dreamliner plane was to blame for the accident that killed 260 people, what’s undeniable is the psychological fallout-a surge of flight anxiety, even among seasoned travellers. A series of flight incidents associated with Air India and other airlines since the June 12 crash has added to their woes. Mental health professionals say the emotional aftershocks…

Exide Industries on Saturday said it is strategically poised to lead the future of energy storage through a dual-pronged focus on its conventional lead-acid battery business and the next-generation lithium-ion segment. Speaking at the company’s 78th Annual General Meeting, Exide Industries chairman Sridhar Gorthi said, “Despite the macroeconomic headwinds and a slowdown in capex across sectors, your company has demonstrated resilience and reaffirmed the commitment to new horizons of innovation, operational excellence, and sustainable growth.” He said that commercial production at the company’s lithium-ion cell manufacturing facility under its wholly owned subsidiary Exide Energy Solutions Ltd (EESL) is expected to…

Kolkata | New Delhi: Several electronics contract manufacturers in India are plotting partnerships with Chinese companies, enthused by the Centre’s nod to a joint venture between Dixon Technologies and Chinese original design manufacturer (ODM) Longcheer Intelligence. Dixon, the top homegrown electronics contract manufacturer, said late Thursday that it has secured Ministry of Electronics and Information Technology (MeitY) approval to form a joint venture with Longcheer which will be 74% owned by the Indian company and 26% by the Chinese partner. Encouraged by the development, other Indian companies such as Epack Durable, PG Electroplast, Amber Enterprises, and Karbonn Mobile are looking…

A chargesheet has been filed against arrested former UCO bank CMD Subodh Kumar Goel and his family members, and his properties worth Rs 106 crore have been attached under the anti-money laundering, the Enforcement Directorate (ED) said on Friday. Goel was arrested by the federal probe agency in May from his home in Delhi in an alleged bank loan fraud case of more than Rs 6,200 crore linked to a Kolkata-based TMT bars supplying company named Concast Steel & Power Ltd. (CSPL). He is currently lodged in a Kolkata jail under judicial custody Movable and immovable assets of Goel worth…

Mumbai: Bajaj Auto could have a “zero month” in August for its electric scooter Chetak and electric three-wheeler GoGo because of the shortage of rare earth magnets, managing director Rajiv Bajaj said in an interview. That would make it the first automaker to halt output on account of export curbs imposed by China on the key component. The scarcity due to China’s move forced India’s second-largest electric scooter maker by volume to halve EV numbers this month though it managed to report full production in June thanks to existing inventory, Bajaj said. China is the world’s dominant supplier of rare…

TDI Infrastructure Ltd., one of the oldest developer of north India, has reduced its debt to zero from Rs 2,000 crore by selling land in Delhi and nearby areas. The company sold the family bungalow in Lutyens Delhi to Prestige group, where it will launch a ultra-luxury project, entered into a join venture with Godrej for a project near Connaught Place and sold another boutique land parcel in central Delhi to a developer to raise funds. In addition, it has sold large land parcels in Kundli and Karnal to give exit to lenders and clear dues of the local authority.…

China’s Chery Automobile Co. will supply technology and components to billionaire Sajjan Jindal’s JSW Group to help launch a new-energy vehicle brand in India by 2027, according to people familiar with the matter. Under an agreement between the two companies, JSW will pay Chery a one-off technology transfer fee and recurring royalties, said the people, who asked not to be identified because the information is private. There is no equity arrangement, in line with India’s restrictions on Chinese investment in strategic sectors. The deal will mark the first major passenger vehicle technology transfer from a Chinese automaker to an Indian…

Renault has unveiled the 2025 Triber facelift in India, bringing a refreshed design, upgraded features, and new colour options to the popular 7-seater compact MPV. Offered in four variants—Authentic, Evolution, Techno, and Emotion—the new Triber is priced from Rs 6.29 lakh to Rs 9.16 lakh (ex-showroom, pan-India), and from Rs 7.27 lakh to Rs 10.58 lakh (on-road, Mumbai). Key Exterior Updates The facelift introduces a bolder design language with: A sleeker gloss black grille featuring the new 2D Renault logo (first in India) LED projector headlamps with eyebrow-shaped DRLs Redesigned front and rear bumpers with silver accents New 15-inch dual-tone…

Buyout groups EQT and Bain Capital are in a two-horse race for 31% controlling interest in Whirlpool of India, listed local arm of the US appliances giant, three senior industry executives said. Private equity peers TPG and KKR, as well as potential rival contenders Havells and Reliance Industries, have fallen back, they said. EQT and Bain Capital are conducting detailed due diligence ahead of the deadline for a binding offer, said to be in August. Whirlpool didn’t respond to queries sent to its US and India offices. Parental Rejig EQT and Bain declined to comment. US parent Whirlpool Corp has…

An Air India plane caught fire shortly after landing at Delhi’s Indira Gandhi Airport on Tuesday. The Air India Flight AI 315, operating from Hong Kong to Delhi on 22 July 2025, experienced an auxiliary power unit (APU) fire shortly after it had landed and parked at the gate. The incident, according to the airline, occurred as passengers were disembarking when the auxiliary power unit (APU) automatically shut down as designed. Flight AI 315 sustained some damage and has been grounded for investigations. All passengers and crew members of Hong Kong to Delhi flight later disembarked safely. “The aircraft has…

Mumbai: The Aircraft Accident Investigation Bureau (AAIB) has successfully retrieved data from the black box of the Air India Boeing 787 plane that crashed in Ahmedabad last month, civil aviation minister Ram Mohan Naidu said on Monday. He said it was the first instance of successful decoding of a crashed aircraft’s black box within the country. Responding to questions in the Rajya Sabha, Naidu assured the members that AAIB’s ongoing probe into the air crash was “transparent, rule-based and unbiased,” and followed international protocols. He added that the final AAIB report on the AI171 accident will include a detailed causal…

Bollywood action director Vicky Arora, known for his work on films like URI: The Surgical Strike, RRR, TANAAV, and the upcoming Ramayan Part 1, has joined Shortgun Games to lead the action design for its upcoming third-person shooter (TPS) game. The move marks a collaboration between film and interactive entertainment, with Arora applying his experience in cinematic combat to a new gaming environment. Shortgun Games, founded by the team behind Rogue Heist, is currently working on a narrative-driven shooter for PC and console platforms. At Shortgun, Arora is overseeing the game’s action sequences from pre-visualisation and motion capture to final…

Indian lenders are finding it increasingly difficult to bring large corporates back into the traditional banking fold as overall credit growth slows and capital markets find favour instead. HDFC Bank reported a 1.7% year-on-year growth in corporate advances for the June quarter, a sharp decline from 18.8% growth in the same period last year. ICICI Bank’s domestic corporate loan book expanded by 7.5%, down from 10.3% previously. State-owned Union Bank of India reported a similar trend. Bankers attribute the deceleration in corporate lending to rising competition from funding sources such as the bond and equity markets. The shift has also…

About 1,190 MW capacity decentralised solar plants were installed in the last one year in Rajasthan under the PM-KUSUM scheme, an official statement said. A total of 684 decentralised solar plants with a combined capacity of 1,305 MW have been set up in Rajasthan so far, of which 592 plants (1,190 MW) were installed in the past 12 months. Unlike conventional large-scale solar parks, KUSUM scheme promotes small-capacity, grid-connected plants installed by farmers themselves or in partnership with developers on barren land. The plants are set up within 5 km of a grid substation and offer electricity at a significantly…

A turf war has broken out over the authority to represent the Geographical Indication (GI)-tagged Kolhapuri slippers, amid the Prada spotlight. While one party has proposed collaboration with the Italian luxury fashion house, the other has threatened legal action and demanded damages. After showcasing a Kolhapuri-inspired sandal without acknowledging the source, Prada later admitted its oversight. It discussed the matter with the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA) and later, sent its supply chain team to India to explore a potential collaboration with local artisans. However, the Karnataka government-backed Dr Babu Jagjivan Ram Leather Industries Development Corporation (LIDKAR)…

Kolkata: AU Small Finance Bank reported a 16% year-on-year rise in first quarter net profit backed by higher treasury earnings offsetting the adverse impact of asset quality stress. Net profit stood at Rs 581 crore as compared with Rs 503 crore in the year-ago period. The bank’s net interest margin for the quarter dipped 38 basis points to 5.4%. “Net interest margins have started to shrink as banks began to transmit the rate cuts,” the bank said in a release filed to the stock exchanges. Gross non-performing assets ratio worsened to 2.47% from 1.78% seen a year ago. This led…

Mumbai: Indians are increasingly popping over-the-counter pills, using sprays or rubbing in creams to soothe their aches and pains, adding more than a billion dollars to the pain management market over the past five years. The category is the biggest within the non-prescription segment, and has seen about five brands launched every week on average since the pandemic, industry executives said, citing Nielsen data. There were 1,552 brands -including Volini, Omnigel, Dolo and Saridon -to tackle the twinges in 2020; now, there are 2,771. Consumers are more attentive to alleviating any pain on a more immediate basis, said Shivam Puri,…

Italy’s Agnelli family is in talks over the possible sale of truck maker Iveco, three sources told Reuters, with two mentioning Tata Motors as a potential buyer. India’s Tata Motors has approached Exor, the Agnellis’ investment company, over its controlling stake in Iveco Group, two of the sources said. A sale would not include Iveco’s IDV defence business. Exor and Iveco declined to comment. Tata Motors did not reply to a request for comment. Iveco said in May it would press ahead with plans to either spin off its defence business by the end of 2025 or sell it, having…

It’s not just Prada that’s hotfooting it to the country. From couture to handbags and heels, the luxury market is having an India moment. Add watches, fine art and jewellery to the list. While Prada is being inspired by the Kolhapuri chappal, an autorickshaw was the inspiration for a recent Louis Vuitton handbag that split the internet into the lovers, the haters and the mildly puzzled. Luxury watch brand Franck Muller is planning two Indian editions. Meanwhile, a piece in London fashion designer Robert Wun’s latest Haute Couture collection created a buzz last week on social media. “Robert Wun showing…

Axis Bank’s net profit fell 4% year-on-year to Rs 5,806 crore in the April–June quarter (Q1FY26), despite a strong performance in its core business. The drop was mainly due to what the bank called a “Technical Impact” — a one-time hit related to how it classifies some loans as bad. While the bank’s operating profit grew 14% YoY to Rs 11,515 crore and net interest income (NII) rose 1% to Rs 13,560 crore, provisions shot up to Rs 3,948 crore, of which Rs 821 crore were because of the technical impact. This technical issue came after the bank recognized some…

Production at Maruti Suzuki India Ltd, India’s largest carmaker, fell to a five-year low in June as demand for its bread-and-butter small cars and compact sedans continued to weaken. An email sent to Maruti remained unanswered. June is typically when Maruti undertakes its bi-annual plant maintenance shutdown, but this year’s figure is the lowest for the month since 2020. Output has fallen 23% to 125,392 from 163,037 in June 2021, according to the company’s monthly production filing. The slide is reflective of broader fatigue in the small car segment, once Maruti’s mainstay, amid a shift in consumer preferences toward sport…

Auto giant Maruti Suzuki on Wednesday announced the standardization of six airbags in its Ertiga and Baleno models will lead to an increase in their average ex-showroom prices. The standardization will result in a 1.4% increase in the ex-showroom price of the Ertiga and a 0.5% hike for the Baleno, effective from July 16. Recently, Maruti Suzuki India reported a 6 per cent year-on-year decline in total sales to 1,67,993 units in June. The move by the country’s largest carmaker comes as it announced that it will equip all its passenger vehicles with six airbags by the end of this…

Several legacy consumer companies are seeing an unprecedented C-suite churn, with three FMCG majors replacing their India chiefs in the past six days amid intensified competition, tepid growth and global pressure to perform. Three more are set to follow suit. On Tuesday, Coca-Cola bottler Hindustan Coca-Cola Beverages named Hemant Rupani its chief executive, days after Hindustan Unilever and L’Oreal also announced leadership changes. Former president at Mondelez South Asia, Rupani is the first external candidate named to lead Coca-Cola’s bottling business. He will succeed Juan Pablo Rodriguez, effective September 8. His appointment comes ahead of Jubilant Bhartia Group consolidating its…

State-owned GAIL (India) Ltd has signed a gas sales and purchase agreement (GSPA) to buy 1 million tonnes of liquefied natural gas (LNG) from Vitol Asia Pte Ltd for 10 years starting 2026. The GSPA follows a binding term sheet signed in January 2024, GAIL said in a statement. “Under the agreement, Vitol will deliver LNG to GAIL from its global LNG portfolio,” it said. Speaking on the occasion, GAIL Director (Marketing) Sanjay Kumar said the company is expanding its long-term LNG portfolio to meet demand growth. “We are pleased to partner with Vitol Asia Pte Ltd, and this agreement…

Civil aviation regulator DGCA Monday asked Indian carriers to carry out inspections of fuel switch locks of all Boeing 787 and 737 jets in their fleet. These switches have come under intense scrutiny after an initial report on the probe into the June 12 crash of an Air India Boeing 787 plane attributed fuel switch lock disengagement as the reason for the accident that killed more than 270 people in Ahmedabad. The Directorate General of Civil Aviation (DGCA) said that airlines have until July 21 to comply with its directive. In India, besides Air India, its lowcost arm Air India…

Singapore investment fund Temasek is building on its investment strategy in India with a focus on building scalable, regionally strong, and specialty-driven platforms across the healthcare delivery spectrum. The fund is deploying capital through both organic growth and bolt-on acquisitions, with a long-term view centered on accessibility, affordability, and high-quality care, according to a senior executive. Last week, Temasek backed Manipal Hospitals acquired Sahyadri Group outbidding rival hospital chains and PE firms. “Our focus is to back platforms that can deliver healthcare at scale across India. The recent acquisition of the Sahyadri Group in Pune fits right into that,” Ravi…

Hours after the preliminary findings into the June 12 Air India crash were released on Saturday, selective excerpts began circulating on social media — particularly the cockpit exchange — interpreting them as an apparent signifier of pilot error. Aviation safety experts said the report’s sparse narrative, lack of timeline, and absence of human factors data have allowed speculation to overwhelm facts. The report by the Aircraft Accident Investigation Bureau (AAIB), tasked with inquiring into the crash, said analysis of the aircraft’s cockpit voice recorder and flight data recorder showed both fuel control switches had been transitioned from run to cut-off…

Food safety regulator FSSAI has asked all Food Business Operators to ensure absolute accuracy in all their annual return submissions, reiterating that providing false or misleading information will attract severe penalties. Compliance with requirements is paramount for safe food ecosystem, the Food Safety and Standards Authority of India (FSSAI) said in a post on X. Earlier this month, the FSSAI wrote to the food safety units of all the states and sensitised about the must-be-followed compliances. FSSAI had in December 2020 mandated the filing of Annual Returns for 2020-21 onwards exclusively through the online FoSCoS platform. Since then, the submission…

Family offices are increasingly channelling capital into hospitality, traditionally seen as a cyclical sector, but currently emerging as a core component of yield-driven portfolios, as India experiences rising demand for business and leisure travel. In a recent marquee transaction, a prominent Mumbai-based family office acquired a 130-key hotel in Manipal, Karnataka, for about ₹150 crore. The asset, currently nearing completion, will be housed under one of Indian Hotels Company’s (IHCL) upscale brands. In another deal, a business house promoter picked up a 190-room hotel in Kolkata. About six months ago, the family office of SanRaj acquired the 245-key Holiday Inn…

The Air India aircraft, which crashed soon after takeoff in Ahmedabad last month, might have suffered mechanical or power supply issues that could have led to the change in the position of the switches that feed fuel into the plane, according to experts. They also opined that the reasons for the change in fuel switch position will be known during further investigations. The Aircraft Accident Investigation Bureau’s (AAIB) preliminary report has mentioned that fuel switches of engine 1 and 2 of the Boeing 787-8 aircraft were cut off within a gap of one second and later turned on before the…

Apple supplier Foxconn has started importing components from China to India for assembling the upcoming iPhone 17, showed customs data seen by ET. The components imported so far could be meant for trial production, according to industry experts, given that their volume is a fraction of that for the older models. Various components and sub-assemblies such as the display assembly, cover glass, mechanical housing and integrated rear camera modules began arriving in India last month, as per the customs data. Components for the upcoming iPhone 17 mobile phone model made up about 10% of the components imported by Taiwanese contract…

National Award-winning filmmaker Ram Madhvani, known for works such as Neerja and Aarya, has announced his latest foray into storytelling. It is an ambitious AI-Virtual Reality (VR) venture that marks the beginning of India’s first spiritual, mythological, and cultural universe hosted in the mesmerising and immersive world of virtual reality. “In theatres, we experience magic. At home, we have scale and comfort. But in personal viewing, we are often watching stories on split screens, sharing attention with emails, calls, or messages,” said Ram Madhvani, Co-founder, Equinox Virtual. “With VR, especially powered by AI, we have a chance to restore the…

Balaji Telefilms is restructuring its business strategy with a sharper focus on movies and digital content, aiming to reduce its reliance on traditional television, which is under pressure due to pay-TV erosion and industry consolidation impacting margins. Historically, television has been the company’s core business, with Balaji dominating primetime for years and delivering a string of popular shows. During the company’s Q4 and FY25 earnings call on July 4, Group CEO and CFO Sanjay Dwivedi said the company is at the cusp of a turning point, driven by internal consolidation, strategic partnerships, and a redefined content distribution strategy. “Over the…

Samsung is considering expanding its smartphone manufacturing for the US market from India, as uncertainty looms over possible US tariffs. If implemented, the shift would echo Apple’s strategic move to turn India into a major global export base, signalling the country’s growing importance in the global electronics supply chain. The development comes amid concerns over trade policies being pursued by US President Donald Trump, which may result in higher tariffs on imports from certain countries. In this backdrop, Samsung is reportedly weighing tariff differentials and exploring the possibility of relocating a portion of its production from Vietnam to India. “Samsung…

Consumer brands and ecommerce platforms are building inventories and ramping up marketing efforts in tier-2, -3 and -4 cities that they expect will drive sales growth in the July September and October-December festive quarters. Ecommerce platforms Amazon, Meesho and Flipkart are adding new delivery stations for nonmetro cities ahead of the festive season, which is also the peak shopping season in India. Lifestyle, beauty and fashion companies like Titan and Nykaa, and smartphone and other consumer electronics makers also said they are doubling down on smaller cities and towns. Beauty and fashion platform Nykaa is “creating deep partnerships” with regional…

Hospitality chain Oberoi Hotels & Resorts said on Tuesday that it has once again demonstrated its ‘global leadership’ in the luxury hospitality space with multiple accolades in the Travel + Leisure, USA World’s Best Awards 2025- one of the most coveted and respected awards in the global travel industry. The chain said it ranked number two among the Best Hotel Brands in the World, reaffirming its position as a ‘standard-bearer’ for ‘excellence’ and ‘authenticity’ in service. The Oberoi Luxury Nile Cruisers have been voted number one River Cruisers in the World. “This achievement is particularly noteworthy as The Oberoi Group…

Global beauty brands are finding increasing space on premium store shelves as demand rises in India. That’s reflected in the post-pandemic surge in imports of skincare and cosmetics. Import of makeup and skincare products rose to $171.9 million in FY25, from $80.9 million in FY20, according to data from the ministry of commerce and industry. The list includes lip and eye makeup, face creams and moisturising lotions. Shoppers Stop, which manages brands such as Estee Lauder, Shiseido, Bobbi Brown, Mac and Clinique in India, said the beauty market has been driven by the entry of hundreds of international brands that…

The National High Speed Rail Corporation Limited (NHSRCL) on Tuesday announced that the construction of a bridge over the Daman Ganga River in Gujarat’s Valsad district as part of the Mumbai-Ahmedabad Bullet Train project has been completed. This is the 16th river bridge to be completed for the project, out of a total of 21 planned in Gujarat. With the completion of the Daman Ganga river bridge, all five river bridges in Valsad district for the Mumbai-Ahmedabad High-Speed Rail project are now finished. Across the entire corridor, 25 river bridges are being constructed. The bullet train corridor stretches approximately 56…

Kolkata: As the deadline for submitting applications for the electronics component manufacturing scheme draws near, home-grown contract manufacturers such as Dixon Technologies, Amber Enterprises, PG Electroplast, Epack Durable, Micromax’s Bhagwati Products and Optiemus are finalising most of their proposals with South Korean, Taiwanese and Japanese companies as equity partners, CEOs of these Indian firms said. This development is significant as China was the largest sourcing market for products and parts, as well as partnerships and JVs till now. Their decision stems from India’s tough stand against Chinese FDI, which needs multi-ministerial nod under Press Note 3 norms. The move could…

The Indian Medical Association (IMA) on Monday criticised the notification by Maharashtra Medical Council (MMC) that will allow homeopaths to prescribe modern medicines after completing a six-month course in pharmacology. This came on the back of Maharashtra Medical Council (MMC) notification of June 30, which mentioned that the state Medical Education and Drugs department has given permission to start a Certificate Course in Modern Pharmacology (CCMP) for homeopathy practitioners to practice in modern medicine. “This is absolutely wrong and we are against it as it will ‘hoodwink’ patients and dilute modern medical practices. Currently, the matter is subjudice, with a…

Indians submitted themselves to 1.29 million beauty and cosmetic treatments in 2024, according to the US based International Society of Aesthetic Plastic Surgery (ISAPS), prompting some experts to call for stringent safety protocols to protect people from harm during Botox treatments and socalled vampire facelifts. The ISAPS listed procedures such as “brow lift, dimple creation, scar revision and facial bone contouring” in its report. Non-surgical procedures such as “injectables and facial rejuvenation” alone touched 610,000 in India, the data showed, a 7% increase over the previous year. It said the total number cited, 1.29 million, was a record for India,…

In an effort to reduce water loss and generate renewable energy, the Delhi government is planning to repair a 17-km section of Munak canal and cover it with solar panels, water minister Parvesh Verma said on Sunday. The Munak canal has two main branches, the Delhi Sub-Branch (DSB) and the Carrier Lined Channel (CLC), that are suffering from significant leakage and inefficiency. In a first-of-its-kind move, the DSB, a raw water stream starting from Haryana and merging with the Munak canal, will be covered with solar panels. A feasibility study is being carried out by the Delhi Jal Board (DJB).…

Kolkata: Smartphones may have sizzled their way to become the country’s largest exported goods in the last fiscal year, but Indiamade daily use consumer goods such as biscuits, noodles, packaged gram flour, soaps and shampoos are also rapidly making inroads into global shelves. Top fast-moving consumer goods companies like Hindustan Unilever (HUL), ITC, Marico, Godrej Consumer Products, Dabur and AWL Agri Business (formerly Adani Wilmar) have reported faster growth in their export revenue compared with local sales in the past two fiscal years. While international business accounts for only 3% of the turnover for some like HUL due to their…

Realty developer Whiteland corporation has awarded Rs 2000 crore construction contracts to Kalpataru Projects International Ltd and Ahluwalia Contracts (India) Ltd. The contract has been awarded for the development of Westin Residences at Sector 103, Dwarka Expressway in Gurgaon. The total construction value of the project stands is Rs 4,000 crore. “Having successfully executed over 300 projects across 75 countries, our legacy is built on trust, uncompromising construction standards, and operational excellence. We look forward to our association with Marriot International and Whiteland Corporation on this project,” said Shailendra Kumar Tripathi, Deputy Managing Director, Kalpataru Projects International Ltd. With a…

India is in the process of holding consultations ahead of the formalisation of CAFE (Corporate Average Fuel Efficiency) 3 norms, scheduled to come into force from April 1, 2027. India currently caps average emissions of all passenger vehicles weighing less than 3,500 kg sold by each manufacturer at 113 gm of carbon dioxide per kilometre. This means that some models can have higher emissions if the manufacturer has fuel-efficient vehicles in its portfolio. A car’s CO2 emissions are directly proportional to the amount of fuel it consumes. Here is a look at the regulations followed globally across all major automotive…

Tata Steel received a demand notice from the Deputy Director of Mines, Jajpur, Odisha, seeking Rs 1,902.72 crore over an alleged shortfall in mineral dispatch from its Sukinda Chromite Block during the fourth year of its mining agreement, the company said in an exchange filing. The demand, issued on July 3, stems from a revised assessment based on the average sale price declared by the Indian Bureau of Mines. Authorities have invoked Rule 12A of the Minerals (Other than Atomic and Hydrocarbon Energy Minerals) Concession Rules, 2016, and have moved to appropriate the company’s performance security. The shortfall reportedly occurred…

Yum! Brands is reportedly mediating a merger between its Indian franchise partners, Devyani International Ltd (DIL) and Sapphire Foods India Ltd, potentially through a share swap. The move aims to create synergies amid slowing growth in the QSR sector, consolidating KFC and Pizza Hut operations under DIL, owned by RJ Corp.

New Delhi: Indian Pharmaceutical Alliance on Thursday asserted that COVID-19 vaccines have been well-documented and rigorously tested according to regulatory standards, playing a crucial role in combating the pandemic. Without naming Karnataka Chief Minister Siddaramaiah, who linked COVID-19 vaccines with a spate of heart attack deaths in the state’s Hassan district, Indian Pharmaceutical Alliance (IPA) said, “Misinformation and distortion of facts endanger public health and undermine the trust built on science and patient care globally”. “During the COVID pandemic, vaccines played a crucial role, and India consistently supplied medicines and vaccines across the world. These vaccines have been well documented…

Mumbai | Kolkata: Reliance Industries Ltd (RIL) is embarking on a restructuring exercise that aims to group all its fast-moving consumer goods (FMCG) brands, currently part of its retail ventures, into a new company so they get “specialised and focused attention”, besides drawing investors focused on this segment. The products are currently with Reliance Retail Ventures Ltd (RRVL), Reliance Retail Ltd (RRL) and Reliance Consumer Products Ltd (RCPL). The unit that’s going to house the FMCG brands is to be called New Reliance Consumer Products Ltd (New RCPL) and will be a direct subsidiary of RIL, much like Jio Platforms…

Trump’s Inauguration Day: What to expect Donald Trump’s second term as US President will begin with his inauguration on Monday. He plans to sign numerous executive orders and hold a campaign-style rally. Several foreign leaders are invited, and outgoing President Joe Biden will attend. The events are largely funded by Trump’s inauguration committee.

Hindi film producers are increasingly seeking insurance protection against piracy-related losses, particularly for big-budget films, amid reports of significant piracy losses. However, insurers are hesitant to underwrite the risk, industry insiders said. The issue of piracy has come into focus following reports that producer Sajid Nadiadwala suffered estimated losses of ₹91 crore due to a leak of Salman Khan-starrer Sikandar, which was released in March. The film is insured for standard production and liability risks with New India Assurance, people aware of the matter said. However, losses due to unauthorised copying and distribution are not standard inclusions, they noted. “Studios…

Renewable energy solutions provider CleanMax and Toyota Tsusho India have joined hands to develop 300 megawatt capacity of renewable energy projects in India. The new partnership aims to leverage synergies between both companies to develop and operate renewable energy projects for Japanese corporates in India, CleanMax said in a statement. The companies aim to set up the capacity by 2028. The partnership will provide comprehensive green energy solutions tailored to each company’s needs, including rooftop solar projects, stand-alone ground-mount solar or wind projects, wind-solar hybrid projects and carbon credits. Kuldeep Jain, Founder & Managing Director, CleanMax, said, “The partnership…solidifies CleanMax’s…

Mumbai: Wockhardt is working on ambitious plans for Zaynich, a combination of zidebactam and cefepime that was found to be effective during clinical trials to fight superbugs or bacterial infections that show resistance to a range of existing antibiotic treatments. The drug maker has hired merchant bankers to identify possible out-licensing deals for the novel product, chairman Habil Khorakiwala told ET in an exclusive interview. Wockhardt in March sought regulatory approval for Zaynich in India and expects its commercial launch in the first half of ’26. In the US, it plans to file for regulatory clearance in August.“We will get…

Agra airport received bomb a bomb threat email, prompting a rise in security, police told PTI on Monday. Deputy Commissioner of Police (City) Sonam Kumar said the airport security filed a complaint regarding the threatening email on Sunday, following which a case was registered at Shahganj police station. However, the complaint did not specify the details about the threat, police said. “Similar emails have been received at other locations as well, and we are in contact with officials there. A thorough investigation is underway. The airport premises has been checked, and nothing suspicious found,” the DCP said. An FIR has…

New Delhi: An IndiGo flight from Pune to Hyderabad was diverted to Vijayawada on Sunday due to heavy air traffic in Hyderabad airspace, according to sources. Sources said that the flight (6E-6473) had departed from Pune Airport at 8:43 AM on Sunday and was en route to Hyderabad’s Rajiv Gandhi International Airport. It later landed at Hyderabad airport at 12:38 PM, they added. Earlier, Air India flight AI357, operating from Tokyo’s Haneda Airport to Delhi, was diverted to make an unscheduled landing in Kolkata on Sunday as a precautionary measure following elevated cabin temperatures during the journey. According to an…

Wendt (India) Ltd, an abrasive and precision component manufacturer, will continue to focus on product development, new customer acquisition, price correction among others, aimed at boosting business growth, the company said on Sunday. The company, part of the diversified conglomerate Murugappa Group, would also take initiatives on identifying and onboarding automobile, steel and engineering industry specific distributors in overseas markets witnessing an increase in sales in Super Abrasive business last financial year, Wendt (India) said in its annual report. The Super Abrasive business achieved sales of Rs 140.54 crore, which is higher by 7 per cent over the previous year.…

The core Left-wing Extremism affected areas of Chhattisgarh will finally get a rail link with the Indian railways finalising the contours of 160-km line from Kothagudem in Telangana to Kirandul in Chhattisgarh. The rail line will connect Naxal-affected 5454districts of Sukma, Dantewada and Bijapur. These areas were not connected with railways so far. Indian Railways has initiated the final location survey foe the line. About 9.5 kms of the line is planned in Telangana, 12.32 kms and 138.51 kms in Chhattisgarh. The line has been planned to cross Pandurangapuram, Ramachandruni Peta, Adavi Ramavaram, Gangrel, Golapalli, Chintalnar, Nilampalli, Tamodi and ends…

Karnataka Milk Federation’s brand Nandini has retained fourth position in the food and beverages category alongside leading brands in India, according to the 2025 rankings released by Brand Finance, the world’s leading brand valuation consultancy. Headquartered in London and operating in over 25 countries, Brand Finance conducts more than 6,000 brand valuations annually, supported by original market research and over 100 sector-specific reports. “In its latest report, Nandini has demonstrated remarkable progress, climbing from 43 in 2024 to 38 in 2025 among the Top 100 Most Valuable Indian Brands. The brand’s valuation rose to USD 1,079 million, reflecting an impressive…

Kolkata: Consumer spending on ITC Ltd’s fast-moving consumer goods (FMCG) grew at its slowest pace in over a decade in the last fiscal year, according to the company’s annual report released on Friday. Sales of ITC’s daily necessity products such as packaged food, personal care, stationary, agarbatti and safety matches grew just 4.6% year on year in 2024-25 – to ₹34,000 crore – compared with annual growth range of 9-21% in the last 10 years. While the company’s FY25 annual report did not specify any reason behind this slower growth, industry executives said it could be a reflection of a…

With the Israel-Iran ceasefire holding up and cargo congestion at Kandla Port improving, prices of edible oils have started declining. Prices of imported palm oil have fallen by $30 per tonne to $1,060 per tonne, soya oil by $20 per tonne to $1,150 per tonne, and sunflower oil by $10 per tonne to $1,200 per tonne in the past three days, said industry executives. “Prices had gone up after tension escalated between Iran and Israel. Additionally, the congestion at Kandla Port had further pushed up prices, as the domestic edible oil industry feared a shortage of imported oil. But the…

KOLKATA: India’s micro, small and medium credit market expanded by a quarter to Rs 40.4 lakh crore as of March, buoyed by the combined impact of policy support, digitalisation, and a sustained push for financial inclusion, credit bureau CRIF High Mark said. Public sector banks continued to lead in micro business lending with 45% market share while private banks dominated the small and medium business segments, the credit bureau said on Thursday, unveiling a MSMEx (micro, small and medium exposure) Spotlight Report. The report captures critical shifts in credit exposure, lender trends, borrower behaviour, and sectoral distribution, highlighting the ecosystem…

Swedish network equipment maker Ericsson is expanding its research and development (R&D) team in Bengaluru by more than 150 positions to enhance its capabilities in Application-Specific Integrated Circuit (ASIC) development. The R&D expansion in India will serve to enhance Ericsson’s portfolio of high-performing programmable networks. The team will work on developing Ericsson Silicon’s range of System on Chips (SoC) for use in network technologies to fully leverage 5G and address both current and future needs, the company said in a statement Thursday. “Expanding our ASIC R&D in India will enable us to leverage the local technology competence in the country…

Panasonic Holdings is downsizing its consumer electronics business in India by exiting loss-making categories like refrigerators and washing machines where the Japanese electronics manufacturer has failed to gain significant market shares, said two industry executives. Panasonic is also shuttering the production line for these products at its factory in Jhajjar, Haryana, the executives said. The unit is currently operating as a contract manufacturer for other brands. While the Indian arm is still evaluating the number of workers that will be laid off due to the restructuring exercise, the executives said it will be in high double digits, as the company…

Starting June 25, the Northern Railway will introduce a new access-controlled parking system at New Delhi Railway Station’s Ajmeri Gate side. The first eight minutes of parking will be free, but after that, charges will apply to reduce traffic jams caused by long waiting vehicles. Parking Charges First 8 minutes: Free 8 to 15 minutes: ₹50 More than 15 minutes: ₹200 Why These Changes? Officials say many people park their cars for a long time while picking up or dropping off passengers, which creates heavy traffic, especially during morning and evening hours. To solve this problem, a private company has…

Before Israel struck Iran on June 13, Brent crude was hovering around $69 per barrel. The attack — followed by US involvement over the weekend — briefly pushed prices up by about $10. Yet, the rally quickly fizzled out, as markets interpreted America’s role as a sign that Iran was unlikely to escalate. When Iranian missiles aimed at a US base in Qatar caused no damage, traders read it as another sign that Tehran was looking to wind down tensions. Traders noticed a familiar pattern from Iran — launching attacks aimed less at inflicting damage and more at appeasing its…

Vodafone Idea (Vi) on Tuesday said that it had not received any communication from the government about considering relief on Rs 84,000 crores. This comes after a few reports said that the shares of the company rallied up 7 per cent after the government’s decision. The company added that it would share the details As and when there is any development with respect to the matter. Media reports had claimed that the Centre, already the biggest equity owner in Vodafone Idea (Vi) through conversion of earlier receivables into stock, is weighing multiple options to provide the telco further relief on…

A panel mandated to examine tax rates under the Goods and Services Council has recommended slashing tax on green hydrogen to 5% from 18% now, said people familiar with the matter. The fitment committee has also backed reducing the goods and services tax (GST) on storage batteries and green hydrogen electrolysers, an important component for producing green hydrogen, to 5%. The recommendations will be placed before the GST Council at its next meeting, which is likely to be held in July, for a final call on the tax rates. Industry had been pushing for the rate cuts and had reached…

Private lender Bandhan Bank on Monday said it has opened 18 new branches across four states in the country. Of the 18, seven new branches were in Jharkhand, five in Andhra Pradesh and three each in Bihar and Odisha. All the new branches will serve semi-urban and rural areas of the four states. The bank will now have 6,300 banking outlets across the country, it said in a statement. Partha Pratim Sengupta, MD&CEO of the bank, said, “We are committed to delivering exceptional customer service by adapting our products and services to meet evolving needs. As we expand nationwide, We…

New Delhi: About two of every three liquefied petroleum gas (LPG) cylinders used in Indian homes for cooking come from West Asia, making households the first, and politically most sensitive, casualty if regional tensions disrupt supply lines, said industry executives. The American strikes on Iran’s nuclear sites have heightened concerns about supplies from the world’s most prolific oil-producing region getting choked. In planning for such scenarios, Indian policymakers and industry leaders have recognised that not all fuels carry the same risk, with LPG standing out as the most vulnerable if tensions in West Asia boil over. Over the past decade,…

Non-institutional channels of borrowing such as moneylenders, shopkeepers, and family constitute a major chunk of borrowing for the poor despite several initiatives to promote financial inclusion, shows a study by Piramal Enterprises. To enhance the share of formal finance, Debopam Chaudhuri, Chief Economist, Piramal Enterprises, says that non-banking finance companies can step in to bridge this gap, provided they are given access to cheaper resources such as the ability to raise fixed deposits and a liquidity backstop window by the RBI to secure short-term loans for top-tier NBFCs. The findings of the report show micro-business owners and economically weaker segments…

Local residents in cities like Barcelona, Palma, and Granada took to the streets, armed not with placards, but water pistols. Their message? Enough is enough. Fed up with overcrowded streets, rising rents, and vanishing neighbourhoods, locals are calling out the pressures of mass tourism.

Passengers on an Air India flight from Delhi to Hong Kong experienced a mid-air scare on June 1 when a door on the Boeing 787 began shaking and emitting hissing and growling noises about an hour after take-off. Flight attendants responded by stuffing paper napkins into a thin gap at the top of the door and pushing it to reduce the noise and movement. Despite the unsettling incident, the flight continued as scheduled and landed safely in Hong Kong, according to a TOI report. This wasn’t the first time a Boeing 787 reported a noisy door mid-flight. Similar incidents have…

MUMBAI: HDB Financial Services, the non-bank lending arm of private lender HDFC Bank, said it may have to tweak its customer acquisition strategy if the Reserve Bank of India’s (RBI) proposed guidelines on eliminating overlapping business activities between banks and their subsidiaries are implemented in their current form. “We might have to make some changes to our customer acquisition strategy in terms of micro-segments that we address that we might choose to stop addressing,” CEO Ramesh Ganesan told ET in an interview. “But we don’t see a fundamental shift in our business strategy of what we’re doing. This is a…

Indian state fuel retailer Hindustan Petroleum Corp Ltd (HPCL) aims to invest about 20 billion rupees ($231.04 million) in the next two to three years to set up 24 compressed biogas (CBG) plants, a company official said on Friday. India, among the world’s largest greenhouse gas emitters, is exploring the use of organic waste to produce cleaner fuels as part of its efforts to reduce carbon emissions and achieve its 2070 net-zero target. HPCL Renewable and Green Energy Ltd, an HPCL subsidiary that is executing the project, has already set up two plants and would set up 24 more plants…

The government undertook an extensive review of safety, passenger facilitation, and airline performance in the aftermath of last week’s deadly crash of an Air India Boeing 787 Dreamliner plane in Ahmedabad. Civil aviation minister Ram Mohan Naidu met Air India CEO Campbell Wilson and senior management of IndiGo, SpiceJet and Akasa Air on Thursday. The meeting focused on operational continuity, supporting transparent and accountable communication with the public, and ensuring passenger safety and convenience, according to a statement by the ministry. The meeting was called to discuss the evolving scenario in the Middle East, enhanced safety checks, and a ban…

Skechers, the comfort technology company, has signed Bollywood actor Kartik Aaryan as its latest brand ambassador for the Indian market. The actor will feature in an upcoming campaign for the brand’s Hands Free Slip-ins footwear line. Commenting on the association, Rahul Vira, CEO of Skechers South Asia, said, “Kartik Aaryan embodies the spirit of Skechers—bold, versatile, stylish and innovative. We are proud to partner with Kartik, an award-winning actor that is equal parts talent, charisma and adventurous. As a prominent contemporary youth icon, his broad appeal coupled with his dynamic persona will help keep Skechers in the mind of consumers…

India’s top private lenders are yet to fully migrate to a new cross-border payments messaging system ahead of a November deadline, officials aware of the migration said, raising disruption risks from non-compliance should the rollout stick to the announced schedule. So far, only the State Bank of India (SBI) has fully transitioned to the ISO 20022 SWIFT messaging standard, said two officials aware of the matter. India’s compliance falls well below the global adoption rate of 43%, they said. “Indian banks are major laggards in adopting ISO 20022; despite multiple deadline extensions, only SBI has transitioned to the new standards,”…

A recent study by Vector Consulting Group reveals that India’s electric vehicle (EV) push is running into serious roadblocks—most notably, a lack of research and development (R&D) capacity among auto component suppliers. The report shows that 88% of suppliers are stretched thin on R&D, causing delays of up to two years in EV projects at traditional car manufacturers. The findings are based on interviews with over 100 senior executives from OEMs and top-tier suppliers. While automakers are eager to move toward electric models, many are still caught in old ways of working that don’t fit the fast-changing EV market. According…

The analysis, based on ad volumes from all live matches of IPL 18, revealed a 13% decline in celebrity-endorsed advertisements compared to the previous season.

Air India on Tuesday issued a travel advisory saying that due to the inclement weather conditions in Delhi, its flight operations are getting impacted with some diversions. Delhi, Noida, Ghaziabad and other parts of the National Capital Region have experienced moderate to heavy rainfall, with thunderstorms likely in NCR. Air India on social media platform X advised passengers to check their flight status before heading to the airport. Earlier in the day, Delhi’s Indira Gandhi International Airport issued a similar, warning of potential disruptions to flight operations due to inclement weather conditions. Delhi’s weather update The change in Delhi’s weather…

New Delhi: The telecom regulator has capped broadband connectivity costs of public Wi-Fi service providers at double the rates of home broadband services, setting aside all objections from telcos, with an aim to boost internet accessibility under the Prime Minister’s Wi-Fi Access Network Interface (PM-WANI) intiative. “Every service provider providing retail FTTH (wired) broadband services shall offer all of its retail FTTH broadband plans up to 200 Mbps to the PDOs (public data offices, which offer Wi-Fi services) under the PM-WANI scheme, at tariff not exceeding twice the tariff applicable to the retail subscribers for the corresponding FTTH broadband plan…

The Oberoi Group said on Monday that Elements by Oberoi, the Group’s environmental and social responsibility framework, which reflects a philosophy that has ‘quietly’ shaped its ethos for decades, now takes ‘centre stage’ as the company scales ‘new heights.’ Oberoi Hotels & Resorts said by 2030, it aims to recycle 100% of waste water and reduce fresh water consumption per occupied room by 20%, source 50% of electricity from renewable energy, transition transport fleets to fully electric vehicles and phase out fossil fuel-based thermal systems in favour of electric alternatives across all new hotels. The chain said guided by life-sustaining…

MUMBAI: India’s accounting and auditing standards regulator has asked several chartered accountancy firms to share details pertaining to the audit of the troubled private sector bank IndusInd. Less than a fortnight ago, the National Financial Reporting Authority (NFRA) sent notices to the existing auditor MSKA & Associates, a member of global advisory network BDO, as well many former auditors of the bank, two persons familiar with the development told ET. “Since there have been accounting irregularities in the IndusInd derivatives book over a period of time, NFRA has asked for the entire audit files for respective years from all the…

Following the tragic helicopter crash that killed seven people near Kedarnath on Sunday, the Civil Aviation Ministry suspended the operations of Aryan Aviation for the Chardham Yatra. The Aryan Aviation chopper had taken off from Kedarnath at 5:30 am and was headed for Guptkashi when it lost contact shortly after take-off. The aircraft went down near the Gauri Mai Khark forests above Gaurikund in the narrow and mountainous Kedarghati region. The incident also prompted the Uttarakhand government to suspend helicopter services for two days and initiate major safety reviews for mountain aviation operations. Preliminary investigations identified dense fog and zero…

Mumbai: The Maharashtra government has signed a Letter of Interest (LOI) with five foreign universities to set up their campuses in Navi Mumbai. Aberdeen University, University of York, University of Western Australia, Illinois Institute of Technology and Istituto Europeo di Design (IED) have expressed interest to set up their campuses in Navi Mumbai. Maharashtra Chief Minister Devendra Fadnavis who along with Union Education Minister Dharmendra Pradhan was present on the occasion said that these foreign universities would be set up in a 250-acre campus in Navi Mumbai that is being developed as an Education Hub. “We are keen to make…

Air India on Saturday said that some of its long-haul flights may be delayed in the coming days, as the airline carries out a series of safety checks on its Boeing 787 aircraft. “Some of these checks could lead to higher turnaround time and potential delays on certain long-haul routes especially those to airports with operating curfews,” said the airline on X, citing spokesperson. The checks, directed by India’s aviation regulator DGCA, are being performed as the aircraft return to India, before they are cleared for their next operations, it noted. “Air India is in the process of completing the…

IndiGo airlines, the country’s largest carrier by fleet and market share, may see a surge in aviation insurance cost when it renews its policy next month, likely driven by increased geopolitical risks and decline in reinsurance capacity after the Air India plane crash. As of March, IndiGo was operating a fleet of 437 aircraft, primarily narrow-body Airbus A320 and A321 models, each insured for a hull value of $30-45 million. It has a total insurance cover of around $20 billion for its 437 aircraft, with an annual premium estimated between $14 million and $15 million, according to insurance industry sources.…

India has asked state-run miner IREL to suspend a 13-year-old agreement on rare earth exports to Japan and to safeguard supplies for domestic needs, two sources familiar with the matter told Reuters, aiming to reduce India’s dependence on China. IREL also wants to develop India’s capacity for rare earth processing, which is dominated globally by China and has become a weapon in escalating trade wars. China has curbed its rare earth materials exports since April, pressuring automakers and high-tech manufacturers worldwide. In a recent meeting with auto and other industry executives, Indian Commerce Minister Piyush Goyal asked IREL to stop…

The catastrophic crash of an Air India flight in Ahmedabad on Thursday is likely to trigger the costliest aviation insurance claim involving an Indian airline, with claims estimated to exceed $120 million, people familiar with the matter said. Of the estimated payout, the hull loss—the insured value of the aircraft— alone could be around $80 million, while passenger liability compensation could add between $30-50 million. The total liability payout could be significantly higher, with one estimate pegging potential passenger-related claims at over $100 million, given the presence of several high-networth individuals onboard. Tata AIG was the lead insurer and others…

Following the crash of Air India aircraft, IndiGo on Thursday issued a travel advisory for the passengers in view of temporary suspension of operations at Ahmedabad Airport. “Following the incident near Ahmedabad Airport and the resulting runway restrictions, flight operations are impacted. Our thoughts are with the families of those affected. We seek your kind understanding, as these are truly challenging times for everyone. If your flight is impacted, you may rebook or claim a full refund via our website. Our teams remain on standby across all channels to support you,” said IndiGo in a post on X. All flight…

Mumbai: SMFG India Credit’s chief executive officer and managing director, Shantanu Mitra, has informed the board that he will be stepping down at the end of this month, according to people privy to the matter. Mitra conveyed his decision earlier this month, they said. The development comes close on the heels of Sumitomo Mitsui Financial Group (SMFG) signing a definitive agreement to acquire a 20% stake in Yes Bank for ₹13,483 crore. The deal, signed in May, is awaiting approval from the Reserve Bank of India. SMFG India Credit is a 100% subsidiary of SMFG. His term with the finance…

The Maharashtra government has decided to alter the Thane-Borivali tunnel project, extending its exit point to reduce traffic congestion, officials said on Wednesday. Several residents of housing societies at Mulla Baug in Manpada area here had cited problems related to safety, planning and environment safeguards. The 11.8 kilometre tunnel, estimated to cost Rs 16,600 crore, will reduce the distance between Borivali, on the northern tip of Mumbai, and Thane by 12 kilometres, resulting in sharply reducing the travel time against the more than two hours its takes now. The foundation stone for the project was laid by Prime Minister Narendra…

On June 9, Jana Small Finance Bank became the third small finance bank (SFB) in India to have applied for a universal banking licence. Bigger peers waiting in line include AU SFB and Ujjivan SFB. A universal banking licence will give SFBs greater operational fl exibility and help them tap diverse markets, while enhancing the growth potential. Sachin Kumar of ET Intelligence Group reports: Live Events

The digital payment revolution unfolding in India has attracted global attention, a government document said. India’s digital payment system has been linked to various countries globally, a booklet, released on completion of 11 years of the NDA-ruled government led by Prime Minister Narendra Modi, said. “The digital payment revolution unfolding in India has attracted global attention. In March 2025, approx Rs 24.77 lakh crore worth of 1,830.151 crore UPI transactions were carried out on the Unified Payment Interface (UPI),” it said. The UPI system is now used by close to 460 million individuals and 65 million merchants, it said. Digital…

Mumbai: The Mumbai bench of National Company Law Tribunal (NCLT) has allowed a 90-day extension in the ongoing consolidated corporate insolvency resolution process (CIRP) of Lavasa Corp beginning May 29. The planned city project is undergoing a fresh CIRP after the NCLT, in September 2024, directed that the entire process be restarted, following the successful bidder’s failure to implement the approved resolution plan within the specified time frame. The company has admitted liabilities of more than ₹6,642 crore, while the erstwhile successful bidder, Darwin Platform Infrastructure, had proposed to pay ₹1,814 crore. “We are of the view that the present…

Force Motors Ltd on Monday appointed Rishi Luharuka as its new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), designating him as Group CFO with effect from June 10, 2025. The move comes after Sanjay Kumar Bohra resigned from the position, stepping down on June 9. Shares of Force Motors Ltd ended at ₹12,200 today, down 2.42% or ₹302. In a regulatory filing, the company said Bohra had submitted his resignation via a letter dated June 9. “The Company places on record its sincere appreciation for the valuable contribution made by Mr. Sanjay Kumar Bohra, as Chief Financial Officer…