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- Feed Preview Industry News, Company News, Manufacturing News, Service Sector | The Hindu
Russia reinsurer backs firms to get India marine insurance permit
Russian state-owned reinsurer backs three insurers for Indian marine insurance, facilitating trade amid Western sanctions and oil price caps
Swiggy secures shareholders' nod to raise over ₹10,400 crore via IPO
Swiggy plans to raise up to ₹3,750 crore funds through fresh equity shares, in addition to an offer-for-sale component of up to ₹6,664 crore, according to sources
IndiGo announces foray into widebody aircraft
Airline says it has agreed to order 30 Airbus A350-900 aircraft; deliveries expected to start from 2027
Tech companies plug into India's smaller cities for talent
Indian IT firms are moving to smaller cities like Madurai, offering cost efficiency and talent opportunities post-pandemic
Emphasise domestic IP, photomask subsidy for semiconductors: ICEA
The electronics industry body provided some suggestions for making sure India’s semiconductor is able to compete globally.
RBI’s latest recommendations to regulate payment aggregators in offline spaces | Explained
The Reserve Bank of India (RBI) has floated two consultation papers seeking enhanced regulation of payment aggregators carrying out face-to-face transactions. It also seeks to strengthen the ecos...
MDH, Everest masala row: India inspects spice makers over alleged contamination
India's spices export regulator said it had sought data on MDH and Everest exports from relevant authorities in both countries and was working with the companies to find the "root cause" of the i...
LTIMindtree Q4 net dips 1.2% to ₹1,100.7 crore; company hopeful of returning to growth in Q1 FY25
The Q4 report card was impacted by slower ramp-ups and weak showing in the banking and financial services space.
JP Morgan CEO praises Modi, says he ‘took 400 million people out of poverty’
He also called PM Modi “tough” for breaking old bureaucratic systems
Indian IT sector staring at second straight year of muted revenue growth: Crisil
IT service companies pulled back on the addition of fresh talent, resulting in headcount reductions by 4% in 2023 by the top 12 companies
RBI imposes business curbs on Kotak Bank for IT infra deficiency
The bank has been barred from onboarding new customers through online, mobile banking channels, issuing fresh credit cards
Mahindra Finance detects about ₹150 crore fraud in loan portfolio, defers FY-24 financial results till May 30
In a regulatory filing, the company said a the board meeting to consider financial statements, results and dividend for the period ended March 2024 is re-scheduled and will be held on May 30, 202...
Dr. Reddy’s recalls Sapropterin Dihydrochloride oral solution powder in U.S. due to ‘sub potency’
The issue was discovered during an accelerated stability test in addition to customer complaints.
Vodafone Idea approves offer price of ₹11 per equity share for ₹18,000 cr-FPO
Vodafone Idea’s board approves FPO offer price at ₹11 per share, raising ₹18,000 crore for debt-laden telecom operator
Ban on MDH, Everest masala | India seeks details from food regulators of Singapore, Hong Kong
The commerce ministry has also directed Indian embassies in both Singapore and Hong Kong to send a detailed report on the matter.
SEBI said to find Adani offshore investors in violation of disclosure rules
SEBI found a several offshore funds invested in Adani Group companies violated disclosure rules and in breach of investment limits
Ensure children up to 12 years are allocated seats with their parents in flight: DGCA tells airlines
DGCA mandates airlines to seat children under 12 with parents, revises air transport circular for unbundled services
MDH, Everest masala row: FSSAI to check quality of spices sold in India
FSSAI takes samples of spices regularly from the market to check the quality of product sold in the domestic market.
How a Chennai-based firm is using virtual reality to train industrial workers
Skillveri, based in Chennai, leverages Meta’s Quest headsets to train industrial workers in skills like painting, welding, and mechanical installation
The travails of becoming a pilot in India
Vistara First Officers’ anger over their new pay structure is the tip of the iceberg of a deeper industry malaise; junior officers feel exploited over expensive training, “illegal” bonds an...
Zomato gets ₹11.82 crore tax demand notice
Zomato faces ₹11.82 crore tax demand and penalty for GST on export services, plans to appeal
OpenAI hires first India-based official Pragya Misra, slated to start later this month: report
OpenAI has hired its first official in India, Pragya Misra, 39, to facilitate government relations as it moves forward with its generative AI products, reported Bloomberg
Elon Musk postpones India trip citing ‘very heavy Tesla obligations’, aims to visit later this year
Tesla chief Elon Musk was expected to announce an investment of $2 billion to build a factory in India
Singapore recalls Everest Fish Curry Masala over alleged pesticide content
Consumers who have purchased the implicated products are advised not to consume it, the Singapore Food Agency said
Archer Aviation aims to start electric air taxi trials in India next year
Archer is working with India's aviation watchdog to get the "appropriate regulatory approvals" before it can begin trials in the country
Yes Bank co-founder Rana Kapoor gets bail in bank fraud case after four years
Yes Bank co-founder Rana Kapoor has been released from jail after four years. He secured bail in all the cases filed against him by the ED. Mr. Kapoor exited Taloja Central Prison at 7 p.m.
Natco Pharma U.S. arm faces Fresenius complaint over diazepam injection prefilled syringe
Natco Pharma faces complaint from Fresenius over marketing of Diazepam injection prefilled syringe in the U.S.
India's power consumption rises nearly 10% to 70.66 billion units in first half of April
The ministry has projected a peak power demand of 260 GW during the summer season (April to June) in view of longer heat wave duration
Adani infuses ₹8,339 crore more in Ambuja Cements, raises stake to 70.3%
In all, its holding in Ambuja Cement has increased from 63.2% to 70.3%.
Flights to be halted for 5 hours on April 21 at Thiruvananthapuram airport for religious procession
The Thiruvananthapuram International Airport Ltd. (TIAL) said the flight services would be suspended from 4 p.m. to 9 p.m. on April 21
ZEE withdraws from NCLT application to merge operations with Sony
ZEEL said the steps taken by it to withdraw the implementation application from NCLT are based on the legal advice received by the board
Ramkrishna Forgings secures ₹270 crore order for Vande Bharat trains
This order encompasses 32 train sets, each comprising 16 coaches and RKFL will be producing a total of 1,024 bogie frames, it said
Ambuja Cements to acquire My Home Group's grinding unit in Tamil Nadu for ₹413.75 crore
The total cement capacity of Adani Group stands at 78.9 MTPA, the company said
Tesla scouts for its first India showroom locations
Tesla, which saw its global vehicle deliveries decline in the first quarter for the first time in nearly four years, is stepping up efforts to expand into new markets
Goods exports hit 12-month high of $41.68 billion in March
The goods trade deficit contracted to $15.6 billion in March, the lowest in 11 months.
Shipping industry set for tougher times ahead due to Israel-Iran tensions: Experts
Supply chain disruption is certain though hope is being maintained that both Iran and Israel will not blow up the situation
Byju's announces rejig of business; founder Raveendran to take over firm's daily operations
The edtech major will also consolidate its business into three focused divisions - the learning App, online classes and tuition centres, and test-prep
Automobile exports from India dip 5.5% in FY24
Commenting on the drop in overseas shipments last fiscal, SIAM President Vinod Aggarwal said the situation remains volatile in various overseas markets.
Government directs e-commerce firms to remove Bournvita, other drinks from ‘health drinks’ category
The advisory said that all e-commerce companies or portals are advised to remove drinks and beverages, including Bournvita, from the category of health drinks from their platforms or sites.
Watch | The troubles behind Vistara’s massive flight cancellations
Why was there deep unrest among pilots? Will it affect your travel plans this month?
India extends operation of imported coal-based power plants until October 15
The power demand is expected to rise in the hot summer months
Industry body seeks release of ‘pending’ subsidies by Tea Board
he Tea Board has been extending subsidy and financial incentives for undertaking various activities relating to improving production and quality of tea under a scheme covering the period 2007-201...
Vistara CEO says 'worst is behind us'; operations have stabilised
Pilot woes have forced the Tata Group airline to temporarily cut down capacity by 10% or 25-30 flights daily.
Anil Ambani suffers another setback as SC sets aside arbitral award of ₹8,000 crore in favour of Reliance firm
Over the past few years, the younger son of legendary business tycoon Dhirubhai Ambani has had setbacks across businesses that pushed him out of the billionaire list.
Maruti Suzuki hikes Swift prices by up to ₹25,000
The price hikes are effective April 10, 2024, the company said
IT firm CriticalRiver ropes in industry veterans Phaneesh Murthy, Raju Reddy; bolsters leadership team
The company, which counts Fortune 100 and 500 companies among its customers, has also announced appointment of Narayana Murthy as executive vice president and global delivery head
Tesla CEO Elon Musk to visit India this month; to meet PM Modi
Musk, who has described as a ‘natural progression’ to provide Tesla electric vehicles in India, is likely to be accompanied by other company executives during the visit
FY25 auto growth will be moderate; pent up demand for personal mobility dries up: Ind-Ra
The personal-mobility segments namely passenger vehicles (PVs) and two-wheelers (2Ws) would continue to grow, though at moderated rates
Pilot rest norms: DGCA seeks implementation timeline from airlines
Rules on pilot rest and duty hours were put on hold following pressure from airlines
SC declines Ramdev, Patanjali apology; expresses concern ov...Gs taking gullible consumers ‘up and down the garden path’
‘People, who pay good money for these products, finally end up suffering at the cost of their health… That is absolutely unacceptable,’ apex court says
20 coal mines likely to come into operation by year end
India’s total coal and lignite output was 937 MT in 2022-23 fiscal year, data shows
Global aviation struggles with lack of planes as summer travel set to hit record levels; leasing market booms in the U.S.
An analysis by travel portal ixigo showed that spot fares on certain routes jumped up to 39% during the April 1-7 period compared to March 1-7 period
The ‘import restrictions’ on solar PV cells | Explained
What is the Approved List of Models and Manufacturers of Solar Photovoltaic Modules? Why was it re-implemented after being ‘kept in abeyance’ for two years? How did China become a dominant pl...
Paytm Payments Bank MD and CEO Surinder Chawla quits
In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments
Byju's starts paying March salary to employees; blames miffed investors' action for delay
Sources said that 25% employees in the lower pay scale will get full payment while senior employees will get partial payment
U.S. FDA issues warning letter to Natco over facility near Hyderabad
Regulator’s action unlikely to impact supplies, existing revenues, but may delay pending product approvals from site, says drugmaker
Airlines struggle with lack of planes as summer travel set to hit record levels
Passenger carriers will receive fewer aircraft this year than expected due to production issues at Boeing and Airbus
Gutkha, stones and condoms found in samosas supplied to automobile firm
SRA Enterprises was removed from the contract earlier after a bandage was found in a snack they had supplied
Q1 2024 saw signs of recovery in tech hiring; trend to get stronger in H2: industry players
HR firms say hiring outlook is positive as IT companies expect to regain their footing amid volatile economic conditions
Why are Vistara flights being cancelled? | Explained
What are the concerns about hectic rosters? What is the new pay structure which has caused widespread anger among junior pilots? How are pilots protesting against it? How has poor planning in tra...
Vistara cancels nearly 1,000 flights in April to stabilise operations
The airline is scaling back operations by around 25-30 flights per day, affected passengers have been re-accommodated on other flights
Adani to invest ₹2.3 lakh crore in renewable energy, manufacturing capacity
Adani New Industries Ltd will invest close to ₹30,000 crore in expanding solar cell and wind turbine manufacturing capacity at Mundra in Gujarat.
Will new solar power rules boost production? | Explained
What is the Approved Models and Manufacturers of Solar Photovoltaic Modules Order?
Vistara asserts ‘over 98%’ pilots signed new contracts after sizeable number said to have rejected pay terms
Industry sources, however, contend that the number of Vistara pilots who had not accepted the new pay structure announced in mid-February were far more in number than the airline was publicly adm...
Sanlam group hikes stake in Shriram Insurance firms
The consideration payable to acquire the combined 10.74% in SGIC and 12.02% in SLIC will be partially funded using the net proceeds from the disposal of the SFL shares
Pentagon International to buy 5.2% stake in Pentafox Tech
Pentagon would further acquire another 21.8% stake in next 12-18 months at pre-agreed multiples
Zee to trim 15% of workforce in structural overhaul
The job cuts could affect nearly 700 employees at the company, which had a total headcount of 4,577 employees
Byju’s breached loan terms, small stake sale blocked, arbitration order shows
A source close to Byju's said the order is not detrimental to Byju and the company is in talks with MEMG to resolve the matter.
Apple lays off more than 600 workers in California in its first major round of post-pandemic cuts
The workers were cut from eight offices in Santa Clara, according to the filings under the state's Worker Adjustment and Retraining Notification Act, also known as WARN
Food inflation keeps RBI worried
"A record rabi wheat production would help temper price pressure and replenish the buffer stocks. Moreover, early indication of a normal monsoon augurs well for the kharif season," RBI said.
Dabur India flags sluggish demand in March-quarter; shares drop
Dabur said it expects mid-single digit percentage revenue growth in the quarter ended March 31, compared to a 7% rise in the December-quarter and 7.3% jump in the quarter before that
Air India, Vistara pilots unite to raise concerns over pay, work conditions across Tata group airlines
The National Company Law Tribunal will evaluate the impending merger of Vistara into Air India on Friday
Senior U.S. treasury officials to urge India to maintain implementation of Russian oil price cap
U.S. treasury officials visit India to push for oil price cap to limit Russia’s profits and stabilize global energy markets
India to build first commercial crude oil strategic storage
Bids are due by April 22 and the tender is to be awarded by June 27, the document said.
Delhi HC declares ‘Haldiram’ as well-known trademark
The high court’s ruling came after a suit was filed by Haldiram India seeking protection of its mark ‘Haldiram’
Adani Green Energy becomes first Indian company with 10,000 MW renewable energy capacity
The company has brought 2,848 MW renewables capacity on stream in FY24, according to a company statement.
Vistara CEO extends ‘apology’ for taxing schedules during townhall with pilots
Vinod Kannan seeks to address a big chunk of the problem pertaining to roster mismanagement resulting in high number of working hours for pilots, and stressful combination of flights
Now, GST probe into big corporates, major MNCs needs a ‘written approval’
Each investigation relating to big industrial houses and major multinational corporations must be initiated only after the approval of the Principal Commissioner, say new guidelines.
Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5
This is the third straight bi-annual reduction in rates for difficult fields.
Infosys to receive ₹6,329 cr tax refund from I-T dept
Infosys also informed the stock exchanges about tax demand to the tune of ₹2,763 crore, citing various assessment orders.
Torrent Group commits ₹5,000 cr. in culture and social services
It has committed the sum for charities in the field of healthcare, education, ecology, arts and culture and social services as the group is celebrating the birth centenary of its founder U.N. Meh...
India is a price-sensitive market, says IndiGo CEO
According to travel portal Cleartrip, airfares are likely to be elevated in the short term
By when can India indigenise electric vehicle production? | Explained
The Union government on March 15 approved a policy to promote India as a manufacturing hub for electric vehicles. This paves the way for EV manufacturers like Tesla and Chinese automaker BYD to m...
Under Google, NCPCR pressure, IPO-bound Ullu drops adult content
The firm has been censured by a streaming self-regulatory body it is a member of, and received scrutiny from the National Commission for Protection of Child Rights.
Akasa Air commences international operations
Akasa will be rapidly expanding its global footprint in the coming months, the statement said
The European Commission probe against Apple, Meta and Google for non-compliance with fair market provisions | Explained
The European Commission has launched a probe against major players in the digital space for failing to comply with provisions under the Digital Markets Act, 2022.
Core sector output growth spurts to 6.7% in February
Core sectors’ output growth was led by double-digit upticks in coal, natural gas and cement.
Adani starts $1.2 billion copper plant; to boost India's metal production
The first phase of the facility that will produce 0.5 million tonnes a year of refined copper has started operations and full-scale 1 million tonnes capacity is expected by FY29 (March 2029)
Maharashtra, Uttar Pradesh spearhead India's post-pandemic growth: SBI report
The SBI Research also underscores the rise in per capita income across several states, with Gujarat exhibiting the most substantial growth, increasing by 1.9 times.
Adani Ports acquires Odisha’s Gopalpur Port for ₹3,500 crore
This is the second port divestment in the last few months from the Shapoorji Pallonji Group; the conglomerate had earlier divested its Dharamtar Port to JSW Infrastructure for an enterprise value...
Boeing CEO Dave Calhoun to step down in management shakeup amid safety crisis
Boeing CEO Dave Calhoun will be stepping down at the end of the year even as the company struggles with delivery delays and quality issues
Clinical trials of Spanish tuberculosis vaccine MTBVAC begin in India
Bharat Biotech has started Phase 3 trials of the first live attenuated vaccine of Mycobacterium TB isolated from a human strain, Spanish biopharma firm Biofabri has completed Phase 1-2 in other c...
Why is the DGCA firm on new rest rules for pilots? | Explained
What are the changes to pilots’ rest norms introduced by the Directorate General of Civil Aviation? Why were they brought about? When is the deadline for implementation? Why are the airlines un...