Business

The month of September witnessed multiple car launches, ranging from the likes of the affordable Nexon EV facelift to luxury...

During the first three quarters of 2023, there was a 38 million square feet of gross absorption in office space in the the top six cities. This figure closely matched the gross absorption during the same period in 2022, indicating a robust trend even in the face of ongoing global uncertainties, as per a report by Colliers, a diversified professional services and investment management firm.

JioMart and Meta completed their one-year partnership through which they have enabled consumers to simply browse and shop for their household needs through WhatsApp chats and making shopping easier for Indian consumers. Through partnership with Meta, JioMart has witnessed 7x growth in monthly orders via WhatsApp compared to the same period last year.

The Board of Directors of Hindustan Zinc have decided that considering the scale, nature, and potential opportunities for various business verticals of the Company, the Company should undertake a comprehensive review of its corporate structure for unlocking potential value. Subject to a detailed evaluation, the idea is to create separate legal entities for undertaking the Zinc & Lead, Silver, and Recycling business of the Company.

Reliance Jio and Airtel have once gained subscribers at the cost of Vi in July 2023, continuing the ongoing trend. The troubled telco, which is the only private operator to have not rolled out 5G services in the country, lost 1.32 million subscribers in July 2023 according to data from Telecom Regulatory Authority of India (TRAI).

Tata-owned Air India has acquired the country’s first Airbus A350-900 via aircraft through a finance lease transaction with HSBC, it said on Friday. This is Air India’s first financing transaction, after it signed a mega order deal to acquire 470 aircrafts from Airbus and Boeing. The purchase agreements were signed on the sidelines of the Paris Air Show held in June 2023.

Jalan Kalrock Consortium, the winning bidder for the revival of grounded carrier Jet Airways, on Friday said it has infused an additional Rs 100 crore in the airline as per the court-approved resolution plan. JKC also said it is expecting the airline to be up and running next year with the launch date likely to be announced in the next few days.

As we gear up for the much-anticipated 10th edition of The Big Billion Days on Flipkart, there's a story that deserves to be shared – the remarkable success story of a young entrepreneur whose life has been transformed by this homegrown e-commerce platform. Mohammed Imran, a 26-year-old, was only 16 when he embarked on his entrepreneurial journey. His venture, Limraz Furniture, gained prominence during the pandemic, achieving a staggering 700 orders on its very first day when he held just 10 pieces in his inventory.

Indian stock markets have appreciated by over 7% in the last one year. The benchmark indices have also hit life-time highs multiple times during the year. New-age internet companies too have been charting a path to profitability and have been gaining value, allowing strategic investors to exit them. PayTM has seen the most sell-offs — with four block deals to the tune of ₹5,880 crore. Alibaba, Morgan Stanley Investment Management and Softbank were the top sellers.

Abu Dhabi's International Holding Company, one of the first high-profile investors in billionaire Gautam Adani's conglomerate, has decided to sell its stake in two Adani companies - Adani Green Energy and Adani Transmission. IHC had in April 2022 invested about USD 500 million each in renewables arm Adani Green Energy and power company Adani Transmission, and a further USD 1 billion in the group's flagship Adani Enterprises.

Third Wave Coffee, a quick-service restaurant (QSR) coffee and food brand, has secured $35 million in a Series C funding round, led by private equity fund Creaegis, along with contributions from its current backers.The company says that the funds will be channelled towards nationwide growth, strengthening its supply chain, improving its operational capacities, and making strategic technology investments.

Asian Paints' Non-Executive Director Ashwin Dani, passed away on Thursday after a brief illness. He was 79. Dani was associated with the company since 1968 and has been a strong force in heralding the company to technological excellence, Asian Paints said. He joined the Company's Board in 1970, and held the position of Vice Chairman and Managing Director of the Company from 1998 to 2009.

The BMW iX1, the company’s latest electric SUV has been launched in India....

FMCG maker Procter & Gamble India on Thursday announced a Rs 300 crore fund to collaborate with external partners and innovators for co-creating solutions for a modern supply chain ecosystem. P&G Supply Chain Catalyst Fund will provide an opportunity to startups and innovators to collaborate with Procter & Gamble (P&G) India on customising business solutions, accelerating its journey towards Supply 3.0 initiatives, said a statement from the company.

Global fabrication capacity for 200-millimeter wafers is forecast to jump 14 per cent over the next three years, a report showed on Thursday, as demand for chips used in electric vehicles (EVs), in particular, is sharply rising. "The global semiconductor industry's ramp to record 200mm fab capacity highlights the bullish expectations for growth in the automotive market in particular," SEMI President and CEO Ajit Manocha said.

Housing sales rose 36% year-on-year to a record 1,20,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate, according to Anarock. In housing data, sales of apartments, villas and independent floors are included while plots are excluded. Anarock Chairman Anuj Puri highlighted that Mumbai Metropolitan Region (MMR) and Pune contributed 51% of the total sales.

Housing sales rose 36 per cent year-on-year to a record 1,20,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate, according to Anarock. Housing sales stood at 88,230 units in the year-ago period across the seven major cities. Releasing the data, real estate consultant Anarock said average housing prices across the seven cities grew 11 per cent annually in the July-September period this year. Hyderabad saw the highest rise of 18 per cent.

The Indian cement sector saw good growth in demand and profitability in the first half of the year. In a further boost to sentiments, the sector’s realizations might also improve as it’s likely to see pricing-led growth as well. The sector saw weak pricing growth across most regions this calendar year, with a few even seeing a drop. On a pan-India basis, prices dipped by around 2.5% between April to August 2023. But September has seen a trend reversal. East India has seen two price hikes with one in September and yet another announced in October.

Troubles mount for Indian airlines, even in good times...

Indian startup funding hit a five-year low in the third quarter of the calendar year, says a report by Tracxn. Startups raised $1.5 billion in Q3 – shrunk by almost a third on a when compared to the previous quarter, and halved year-on-year. Early-stage and seed-stage funding plummeted by 74% and 75% respectively, on a YoY basis. Late-stage rounds, in comparison, witnessed a 33% reduction.

In the world of business, there are stories that inspire, stories that reflect the essence of entrepreneurship, and stories that remind us of the limitless possibilities that lie ahead. With the 10th edition of Flipkart’s flagship event - The Big Billion Days just around the corner, it is the perfect time to shine a spotlight on one such business that has thrived through their association with the homegrown e-commerce platform.

The diverging stock prices of two motorcycle majors – Bajaj Auto and Eicher Motors – are telling an interesting story. Over the last one month Bajaj Auto’s stock has rallied 10% while that of Eicher has risen by 3.3%, which is a modest increase in comparison. Analysts divided on this face-off, as some bat for Bajaj while others stick with Eicher Motors.