India witnessed a remarkable surge in silver imports in February, reaching an unprecedented 260 per cent increase, driven by lower duties that incentivized substantial purchases from the United Arab Emirates (UAE), according to reports from government and industry sources shared with Reuters. Projections suggest that this trend is set to continue, with a potential 66 […]
United Spirits has announced the acquisition of a 15 per cent stake in Inspired Hospitality, the parent company of alcohol beverage brand, Pistola, for Rs 5.65 crore, as stated in a BSE filing on Thursday. “The Company will subscribe to 3,494 (three thousand four hundred ninety-four) Compulsory Convertible Preference Shares (CCPS) and 10 (ten) equity […]
A study on Tuesday revealed that the Indian manufacturing sector stood as the most targeted industry for ransomware extortion in 2023. The study by Palo Alto Networks said on a global level a 49 per cent YoY increase was observed in multi-extortion ransomware attacks from 2022 to 2023 and before 2023 LockBit ransomware remained the […]
Grasim Industries has secured Rs 1,250 crore (approximately USD150 million) from the International Finance Corporation through non-convertible debentures. This capital infusion is earmarked for bolstering the company’s newly launched paints venture, Birla Opus. To prioritise sustainability, Birla Opus is committed to maximising the utilisation of renewable energy sources and implementing water recycling initiatives across its […]
French sports retailer Decathlon is intensifying its investments to bolster production and expand its retail footprint in India, which is deemed one of its “most significant” global markets, according to its Global CEO Barbara Martin Coppola, news agency PTI reported. Decathlon anticipates maintaining its robust growth trajectory in the Indian market, which is also emerging […]
The CIABC, which represents alcoholic beverage manufacturers, said on Monday that the free trade deal between India and four European nations, known as EFTA, will assist boost the expansion of the domestic wine sector. Iceland, Liechtenstein, Norway, and Switzerland are all members of the European Free Trade Association (EFTA), news agency PTI reported. The Confederation […]
In a development signaling confidence in India’s economic trajectory, Moody’s, the global credit rating agency, has revised its GDP forecast for the country upwards to 6.8 per cent for the year 2024. The optimistic outlook comes as India is poised to maintain its position as the fastest-growing economy among G20 nations, fueled by robust growth […]
Godrej & Boyce is set to invest approximately Rs 40 crore over the next three years to expand its distribution network for consumer brands in tier-II and tier-III cities. The company, known for selling interior solutions, furniture, appliances and locks, aims to double its footprint to more than 400 towns by FY27 with these fresh […]
In a significant boost to Uttar Pradesh’s dairy sector, the projects initiated during the groundbreaking ceremony are set to attract investments totaling Rs 9,000 crore. Despite emerging as the top milk producer among states in 2022-23, the state faces challenges with low milk production capacity in cattle, presenting an opportunity for further enhancement. During the […]
Myntra has received a significant investment of USD 54 million from its parent company, Flipkart. The injection of funds comes at a critical juncture for Myntra, as it faces intensified rivalry from competitors such as Reliance’s Ajio and Tata Cliq. The funding was disclosed through regulatory filings in Singapore and is the second such major […]
