MUMBAI: Reliance Industries, India’s largest company in terms of market value, reported a 76% increase in quarterly profit to Rs 30,681 crore on Friday, led by gains from the sale of some of its listed investments and strong growth across its key businesses. Other income surged 280% to Rs 15,119 crore due to profit (Rs…
MUMBAI: Markets regulator Sebi on Friday floated a consultation paper for changes to the scheme categorisation process, financial instruments into which each fund would be allowed to invest in, and if fund houses should be allowed to launch solution-oriented schemes.Sebi is also mulling allowing fund houses to launch sectoral debt funds, on the lines of…
MUMBAI: Reliance Retail has acquired home appliances brand Kelvinator for India from Sweden’s Electrolux as it looks to expand market share in the consumer durables space, stepping up competition against global and local giants such as Samsung and Tata’s Voltas in the market. Reliance Retail has been holding manufacturing and distribution rights for the brand…
MUMBAI: German insurance giant Allianz and Jio Financial Services have announced a 50:50 joint venture to enter India’s domestic reinsurance market. The pair also signed a non-binding term sheet for potential joint ventures in both life and general insurance. The move comes four months after Allianz ended its twodecade long joint venture with Bajaj Finserv….
MUMBAI: The US-based Viceroy Research’s report on Vedanta Group contains serious allegations, causing harm to the conglomerate’s business and reputation, former Chief Justice of India D Y Chandrachud has said in his legal opinion. “The elements required to establish defamation — both civil and criminal — are satisfied in this case, given that Viceroy has…
MUMBAI: The Wealth Company, backed by Pantomath Group, on Friday said it has received Sebi approval to launch its mutual fund business. This made the Wealth Company the first fund house in India to be founded by a woman to receive Sebi nod to start an MF business.The company is led by Madhu Lunawat, also…
BENGALURU: After a 34-year tenure that shaped the company and India’s organised retail sector, Shoppers Stop chairman B S Nagesh announced his retirement at the company’s latest annual general meeting. The board has named Nirvik Singh as the new chairman. Singh described Nagesh’s leadership as “an extraordinary tenure that has shaped the very character, vision,…
MUMBAI: Tata Sons has formed a Rs 500 crore public charitable trust to aid families impacted by the Air India 171 crash in Ahmedabad. It will contribute Rs 250 crore to the AI-171 Memorial and Welfare Trust, while its primary shareholder, Tata Trusts, will match this with Rs 250 crore. This is one of the…
MUMBAI: Geopolitical uncertainty and trade tariff jitters are weighing on hiring and new job openings in certain sectors, impacting discretionary spending by consumers across sectors ranging from apparel to auto. In the jewellery space which still has an edge given the intrinsic value gold and diamond hold, spends have been a bit better comparatively but…
The United States continues to be among India’s top trading partners as it became the leading export destination for electronics, marine goods and readymade garments in the first quarter of FY26, reaffirming its importance in India’s external trade, according to an analysis by the commerce department.The data released by the commerce department showed that between…
