Business

Reliance retail business expanded its store network by adding over 3,300 new stores during FY23 taking the number of stores across India to 18,040

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Reliance Industries Limited logo

Mumbai, October 2 (MeelBijendra) – Reliance Retail further strengthened its position as the largest retailer in India and the only Indian retailer to feature in the top 100 retailers globally. Reliance Retail crossed the 1 billion transaction mark in the financial year 2022-23. The retail business expanded its store network by adding over 3,300 new … Read more

Kotak’s consolidated asset base stood at INR 6.2 trillion as of 31st March 2023 with market capitalization of INR 3.4 trillion

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Kotak Mahindra Bank logo

Mumbai, October 1 (MeelBijendra) – Kotak is one of India’s leading diversified and integrated financial services conglomerates, providing a wide range of financial solutions, covering banking (consumer, commercial and corporate), credit and financing, asset management, alternate assets, life and general insurance, stock broking, investment banking, private banking, microfinance and asset reconstruction across customer and geographic … Read more

Axis Bank says wealth management business ‘Burgundy’ remains largest in India with combined assets of INR 3.6 trillion

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A customer enters a branch of Axis Bank in Mumbai

New Delhi, September 12 (Meel Bijendra) – The retail franchise of Axis Bank, India’s third largest private sector lender, delivered strong growth driven by improving deposit quality and higher market share in key businesses. Axis Bank achieved several all-time annual highs by adding 10.8 million new liability relationships in FY23 and achieved record loan disbursements … Read more

Adani Wilmar is market leader in Refined Oil Consumer Pack segment in India with 19.5% market share

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Refined 5-liter plastic cans of edible oil are kept with Adani Wilmar's logo in the background

Mumbai, September 12 (MeelBijendra) – Adani Wilmar is the market leader in India’s edible oil segment and ROCP (Refined Oil Consumer Pack) segment with over 19.5% market share through its brand portfolio. Adani Wilmar is involved in crushing and processing oilseeds to extract crude oil. Crude oil, obtained externally or internally through a crushing process, … Read more

Tata Motors becomes the third OEM in India to cross the annual sales mark of 5 lakh vehicles

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Traffic moves on a road during hot weather on the outskirts of Ahmedabad

Mumbai, September 10 (MeelBijendra) – Tata Motors‘ passenger and electric vehicle business in India continues strong performance for the third consecutive year and recorded its highest-ever annual sales of approximately 5,41,000 vehicles in FY23 which is a growth of 45% compared to FY22. EV sales crossed the 50,000 annual sales milestone and accounted for 12% … Read more

Retail sales contribute $787 billion to India’s GDP, with staple food consumption accounting for $125 billion

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Beauty products by Nykaa, an Indian beauty products retailer, are seen for sale in a store at a mall in New Delhi

MUMBAI, Aug 21 (MeelBijendra) – Currently, India’s GDP is $3.2 trillion, which includes $1 trillion in investment, $1.9 trillion in consumption, $0.4 trillion in government, and $0.1 trillion in net exports. Retail sales contribute $787 billion to India’s GDP, including grocery and food $503 billion, apparel and accessories $114 billion, and electronics $60 billion. Grocery … Read more

India aims to achieve 30% EV penetration in private cars, 70% in commercial vehicles and 80% in two and three wheelers by 2030

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Sales of electric vehicles in India are shown in the chart

NEW DELHI, August 20 (MeelBijendra) – Electric car industry in India is still in its nascent stage with 41,441 units being sold in the first few months of FY23 and electric vehicle sales in India are expected to register a strong growth rate in the coming decade. In India, 2,433 electric cars were sold in … Read more

Adani Energy Solutions gets financial closure of $1 billion project to supply renewable HVDC transmission power in Mumbai

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Indian billionaire Gautam Adani addresses delegates during the Business Summit in Kolkata

MUMBAI, August 7 (MeelBijendra) – On Monday, Adani Energy Solutions Limited (AESL), the transmission and distribution business arm of Adani Group, has got the financial closure for a $1 billion project to supply renewable energy in Mumbai, India. Indian conglomerate Adani is the only private player to install High Voltage Direct Current (HVDC) links in … Read more

Brookfield Asset Management signs an MoU with India’s Reliance Industries to manufacture renewable energy and decarbonization equipment in Australia

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Indian 500 rupee notes lie on the cashier counter of a branch of HDFC Bank in Mumbai

NEW DELHI, August 1 (MeelBijendra) – On Tuesday, August 1, Indian conglomerate Reliance Industries announced that Brookfield Asset Management has signed a memorandum of understanding (MoU) with Reliance Industries to further explore opportunities in Australia to pursue renewable energy and manufacture decarbonization equipment. Brookfield Asset Management is a Canadian multinational company with over US$825 billion … Read more

Value of loans disbursed through Paytm platform grew by 167% YoY to INR 14845 Cr in Q1 FY24; Improving portfolio quality, says Paytm

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The Paytm logo is pasted on a wall at Paytm's office in Delhi

BENGALURU, July 25 (MeelBijendra) – Paytm, the second largest digital payments app in India by market share, says the value of loans disbursed through the Paytm platform grew by 167% year-on-year to INR 14,845 crore in Q1 FY24, with continued momentum in consumer and merchant loan disbursements along with improving portfolio quality. Paytm generally disburses … Read more

Adani’s renewable energy arm Adani Green to raise ₹12,300 crore for green energy diversification

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Indian billionaire Gautam Adani addresses delegates during the Business Summit in Kolkata

Adani Green, the renewable energy arm of Adani Group, in its board meeting held on July 6, 2023, has approved a plan to raise ₹12,300 crore to finance green energy diversification. Tycoon Group’s renewable energy company will use the funds to diversify its green energy supply in India by selling shares through a qualified institutional … Read more

NSE changes the expiry day of Nifty Bank F&O contracts from Thursday to Friday from July 14

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share price on the screen

On Tuesday, June 6, the National Stock Exchange of India (NSE) issued a new circular changing the Nifty Bank Futures and Options (F&O) expiry day from Thursday to Friday with effect from July 14, 2023. The National Stock Exchange of India Limited (NSE) started trading in derivatives on 12 June 2000 with the launch of … Read more

Go First Collapse Explained: what and why Go First Airline faced bankruptcy crisis

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Go First airline's A320neo passenger plane passing over the city of Mumbai, India

India’s aviation sector is once again in the limelight after the Indian GoFirst airline filed for bankruptcy on Tuesday. On 2 May 2023, GoFirst Airline filed an application for resolution under Section 10 of the Insolvency and Bankruptcy Code with the National Company Law Tribunal (NCLT) in Delhi. GoFirst is India’s third-largest budget carrier airline, … Read more

India expects FDI of $100 billion in the current fiscal after $83.6 billion in FY21-22: Govt

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Indian rupee notes

India’s domestic economic recovery in FY 2021-22 boosted import demand while India’s external sector remained resilient and safe-haven demand for gold expanded the trade deficit from October 2021 to March 2022 time period. But strong capital inflows, dominated by strong exports and foreign direct investment (FDI), eased the pressure on the current account balance. In … Read more

PM Narendra Modi to launch 5G services in India on October 1 at India Mobile Congress 2022 event, 5G service in 13 cities in 1st phase

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5G is written in a blue circle on the Indian flag in the background of the phone

In Budget 2022, Indian Finance Minister Nirmala Sitharaman had said that 5G in 2022 and BharatNet broadband will be ready by 2025. Apart from this, Indian Prime Minister Narendra Modi, while addressing the nation on the 75th Independence Day, had said that 5G services are going to start in India soon. Prime Minister Narendra Modi … Read more

OYO files addendum to DRHP for its IPO with SEBI along with latest financial results

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The logo of OYO, India's largest hotel chain, is seen installed on a hotel building in Jaipur

On Monday 19 September, OYO filed an addendum to the Draft Red Herring Prospectus (DRHP) filed earlier for its initial public offering (IPO) in October 2021 with the Securities and Exchange Board of India (SEBI). OYO (formally Oravel Stays Limited) disclosed its latest financials in the IPO filing addendum in which OYO’s revenue stood at … Read more

Vedanta and Foxconn to set up semiconductor and display fab units in Gujarat with investment of Rs 1.54 trillion, MoU signed

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Semiconductor chips are seen on a circuit board of a computer in this picture

On Tuesday 13 September, the joint venture between Vedanta and Taiwan base Foxconn Group announced that it will open a new semiconductor and chip manufacturing plant in Gujarat. Vedanta is the third company to announce a chip plant in India. Earlier Singapore-based IGSS Ventures signed an MoU (Memorandum of understanding) with the Tamil Nadu state … Read more

India cross 10 crore Demat accounts in August 2022, 60% new Demat accounts opened in 29 months

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Statistics of Demat Accounts in 2022

Indian stock market touched a significant milestone of 10 crore Demat accounts in August 2022. A total of 22 lakh new Demat accounts were opened in the month of August. Now the total Demat account in India is 10,05,10,862 crores which is a new record for the Indian stock market. According to the National Securities … Read more

NTPC produced 7.36 MMT of coal during April to August of FY 2022-23 with YOY growth of 62%

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A truck is carrying coal from a coal mine in the Indian state of Jharkhand

NTPC Limited is an Indian Public Sector Undertaking that is India‘s largest integrated power company with an installed capacity of 70,064 MW. NTPC Limited has produced 7.36 MMT of coal during the period April 2022 to August 2022 which is an increase of 62% year-on-year as compared to 4.55 MMT produced during the corresponding period … Read more

Adani Group acquires 29.18% stake in NDTV and Open offer for additional acquisition of 26%

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Indian billionaire Gautam Adani addresses delegates during the Business Summit in Kolkata

Indian billionaire Adani Group has acquired a 29.18% stake in media company NDTV (New Delhi Television Limited), but Adani owns this stake indirectly in NDTV. NDTV is one of India’s leading news channels which operates many national channels like NDTV India, NDTV 24×7 and the company also runs an online news website. In 2009 NDTV … Read more

Malaysia to buy 18 LCA Tejas aircraft from India, 6 other countries showed interest: Govt

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Light Combat Aircraft (LCA) Tejas jet flying in the sky during training in India

On Friday, 5 August 2022, in the Monsoon Session, Minister of State for Defense Ajay Bhatt said in response to a question in the Lok Sabha that Malaysia shortlisted 18 LCA (Light Combat Aircraft) Tejas jets from India and Argentina, Indonesia, Australia, America, Egypt, and the Philippines have shown interest. In March 2019, India’s indigenous … Read more

Mahindra & Mahindra Ltd Launches the All-New Scorpio-N

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Mahindra & Mahindra Limited's all-new Scorpio-N parked on the road

On 20 May 2022 Mahindra & Mahindra Limited announced that they will launch the all-new ‘Scorpio-N’ brand new of the much-awaited SUV segment. The all-new ‘Scorpio-N’ comes with automatic and manual transmission and is powered by diesel and petrol engines with prices starting at Rs 11.99 lakhs. The company said that their new SUV Scorpio-N … Read more

International trade settlement in Indian Rupees via Special Rupee Vostro account

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Indian rupee notes

On Monday 11 July 2022, the Reserve Bank of India (RBI) announced that the settlement of international trade can be done in Indian Rupees (INR) in order to boost the growth of global trade and to emphasize exports from India. And this additional arrangement has been made for invoicing, payment, and settlement of imports and … Read more

India’s RuPay cards and UPI to be accepted in France, NPCI and Lyra Network Signed MoU

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Debit Card: India's RuPay cards and UPI to be accepted in France

On Thursday 16 June 2022, the National Payment Corporation of India (NPCI) announced that NPCI International has signed a Memorandum of Understanding (MoU) with France-based payment solutions provider Lyra Network to accept RuPay cards and UPI payments in France. RuPay cards and UPI (Unified Payments Interface) services will be available in France soon. France and … Read more

Jubilant FoodWorks shares fall 12% on CEO Pratik Pota’s resignation

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Share price: Jubilant FoodWorks shares fall 12% on CEO Pratik Pota's resignation

The share price of Jubilant FoodWorks, which operates brands like Domino’s Pizza, Dunkin’, and Hong’s Kitchen in India, was trading lower by 12.24% at Rs.2479.80. The company’s CEO (Chief executive officer) and Director Pratik Pota decided to resign from his position. The company said Pratik Pota will continue his position till Wednesday, June 15, 2022. … Read more