Buisiness

NEW DELHI: FM Nirmala Sitharaman on Tuesday said there should not be any politics on public finance, as it has a long-term impact on the Centre and states.“Raising money is important, as much as managing your debt. There is no good if I am being very good in terms of giving projects or schemes to…

MUMBAI: UPI continues to break records. In March, the platform processed 1,830 crore transactions worth Rs 24.8 lakh crore, marking a 36% year-on-year rise in volume and a 25% increase in value. The surge follows Feb’s tally of 1,611 crore transactions amounting to nearly Rs 22 lakh crore. On average, UPI now handles 59 crore…

BofA Securities has a ‘neutral’ rating on Tata Motors with a target price of Rs 735. Analysts said that at a conference call, the company’s CFO indicated that it was early to react to expected tariff by the US but supply chain rethink was unlikely. The company’s mitigation plan includes premiumization, cost, pricing and developing…

MUMBAI: Govt’s decision to convert nearly Rs 39,000-crore worth of dues of Vodafone Idea led to hectic buying at the counter on Tuesday. Analysts, however, had a mixed reaction to the news with some upgrading the stock. The stock closed at Rs 8.1, up 19%. Source link

MUMBAI: Credit rating upgrades outpaced downgrades in FY25, though the pace has slowed from FY24. In FY25, ICRA upgraded 301 entities and downgraded 150, with its credit ratio easing to 2.0x from a high of 3.0x in FY22. CareEdge‘s ratio rose to 2.35x in H2 from 1.62x in H1. Crisil‘s stood at 2.64x in H2,…

NEW DELHI: Food and grocery delivery platform Swiggy on Tuesday said it received an assessment order with an additional tax demand of over Rs 158 crore for the period between April 2021 and March 2022. The order relates to alleged contraventions including cancellation charges paid to merchants. Swiggy said it will challenge the order. Source…

MUMBAI: Zomato (now Eternal) has laid off 500-600 employees working in customer support roles citing non-performance, sources said. Some of the impacted employees alleged that the company terminated the jobs without giving them any notice period. Zomato declined to comment. The firm had hired over 1,500 people last year under its Zomato Associate Accelerator Programme,…

When the US announces its reciprocal tariffs on Wednesday, Indian govt will keep tabs on how the tariffs are calculated, given that Trump had spoken about subsidies offered by some countries as well as VAT on imported goods that are levied.In addition, how the duties are imposed on rival countries will also have to be…

NEW DELHI/CHENNAI: Japan’s Nissan has decided to stop manufacturing cars in India and will sell its 51% shareholding in a factory in Chennai to joint venture partner France’s Renault.The company, which has struggled to gain market share in India, despite spending over 550 million euros till date and further committing another 140 million euros for…

MUMBAI: Global investors are queuing up to take a bite of snacks maker Haldiram’s. After Singapore’s Temasek, UAE-based IHC (International Holding Company) and American investment firm Alpha Wave Global have invested in the company’s ongoing equity round, joining its cap table. While the financial specifics of the transaction, pegged to be the largest private equity…