MAS Holding’s Chairman, Mahesh Amalean on Monday met Odisha Chief Minister Naveen Patnaik and told him about the company’s interest in setting up an integrated textile and apparel manufacturing facility in Odisha. Amalean informed Patnaik about his company’s portfolio. The project can provide employment to more than 5,000 people. During the discussion, the Chief Minister […]
McDonald’s said on Monday it would acquire investment firm Carlyle’s 28 per cent stake in a partnership that manages its business in mainland China, Hong Kong and Macau, as the burger chain looks to simplify its structure in the region. The deal will help McDonald’s raise its holdings to 48 per cent, while a consortium […]
The Indian rupee is likely to open slightly higher on Monday after the dollar declined to its lowest in over two months against a basket of major peers. Non-deliverable forwards indicate the rupee will open at around 83.24-83.25 to the US dollar, compared with 83.27 in the previous session. Brent crude rose in Asia trading, […]
Smartphone maker Xiaomi Corp posted a forecast-beating jump in third-quarter net income on Monday, while revenue also topped estimates as flat device shipments outperformed the wider market. The company’s sales for the period totalled 70.9 billion yuan, beating an average estimate of 70.2 billion yuan from 13 analysts polled by LSEG. Net income jumped by […]
Avadh Sugar & Energy, a K K Birla group company, has reported a net profit of Rs 29 crore for the quarter gone by as against a loss of Rs 16 crore in the same quarter the previous year. The total income of the company during the quarter stood at Rs 799 crore, compared to […]
The Hinduja Group’s flagship company, Ashok Leyland, has indicated that it is interested in obtaining outside funding for Switch Mobility, its electric car subsidiary. The managing director, Shenu Agarwal, stressed how crucial it is to choose the ideal strategic partner for this project. Agarwal emphasised that although the company welcomes outside investment, it would continue […]
Jubilant Foodwroks’s president and chief financial officer (CFO) and key managerial personnel (KMP), Ashish Goenka on Monday resigned from the company’s services. His last working day as the CFO and KMP of the Company would be 15 December 2023, the company’s regulatory filing said. “I hereby tender my resignation from the position of President & […]
Mukesh Ambani-owned Reliance Jio is reportedly in talks with major manufacturers like HP, Acer and Lenovo for a cloud laptop rollout soon. The telecom player’s aim is to disrupt the Indian PC market. According to a media report, Reliance Jio will be introducing a laptop, that will cost around Rs 15,000 and will function as […]
Ola Electric, led by Bhavish Aggarwal, has transitioned into a public company in preparation for an upcoming public listing, according to media reports. The transformation from Ola Electric Mobility to Ola Electric Mobility was officially documented in filings with the Registrar of Companies, Bengaluru. The company, a prominent player in electric vehicle manufacturing, is set […]
British luxury fashion house Burberry reported an 18 percent decline in net profit to USD 196 million for the first half ending September, citing weakened global demand for high-end clothing, particularly in China’s slowing economy. In an official statement, Burberry acknowledged the impact of the global luxury demand slowdown on current trading and expressed concerns […]
