Mumbai: Amid concerns about India’s economic outlook after the hiked US tariffs and the corresponding stock market fall, American rating agency S&P’s rating upgrade has given investors a reason to cheer. Perhaps the best gift India could get this Independence Day, S&P upgraded India to BBB from BBB- with a stable outlook- 18 years since it had last done so. The rating agency said India had staged a remarkable comeback after the pandemic, with growth averaging 8.8% between 2022-24, the highest in the Asia Pacific. “We expect these growth dynamics to continue in the medium term, with GDP increasing 6.8…
Author: Abizar Attari
Abizar Attari
I’ve always had a fascination with storytelling. Analyzing diverse perspectives and helping people understanding them simply is my life’s motto. I live to create stories that you’d love to read. When I’m not writing, you'll find me having a leisurely stroll on the beach or in the park.
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Mumbai: India’s stock markets are slowly showing signs of a fall in the face of mounting joblessness, rising inflation and the impending threat of the 50% tariff imposed by the Trump administration. In the eyes of fund managers across the world, the highly inflated valuations of the Nifty and Sensex are no longer a cause of cheer, but an opportunity to exit with their profits before they turn to losses. According to a Bank of America (BoA) survey, almost 30% of global fund managers have expressed disappointment with India’s stock market, making it the least preferred amongst its Asian peers.…
Bengaluru: India’s second-largest IT company Infosys, has announced its intention to buy a 75% stake in Australian digital transformation solutions provider Versant Group for Rs.1,300 crore or USD 153 million. Formed after amalgamating Versant, Epicon, Telstra Purple Digital and other associated cloud products, this was a wholly owned subsidiary of the Telstra Group, Australia’s leading telecommunication provider. The company’s team of 650 engineers, advisors and strategists helps leading Australian companies to transform their digital presence. Its major clients include Great Southern Bank, Sai Global, Vix Technology and various Australian government departments. This acquisition complements Infosys’ strategic collaboration with Telstra to…
New Delhi: On August 08, the Ministry of Petroleum & Natural Gas released a statement declaring its intent to blend 20% ethanol in petrol across India by the end of 2025. This announcement has sparked concern about the hurriedly implemented move, which was previously scheduled to be implemented by 2030. Some motorists have complained that the fuel has reduced their vehicles’ mileage, and alleged that the fuel can damage their engines due to the higher ethanol blend. To allay concerns, the ministry issued a clarification, stating that the blended fuel, christened E20, would help lower carbon emissions by about 30%…
Mumbai: Fractal Analytics, a market intelligence and AI company headquartered in Mumbai and New York, has filed its Draft Red Herring Prospectus (DHRP) with market regulator SEBI for an IPO worth Rs.4,900 crore. This would mark the first IPO by an AI-focused firm in India, which many consider a landmark in India’s evolving AI landscape. This IPO consists of Rs.1,279 crore in fresh issue of shares with Rs.3,620 crore shares being an offer for sale (OFS), with the remainder being reserved for subscription by existing employees. Several stakeholders, including Quinag Bidco and TPG Fett Holdings, are set to sell shares…
Mumbai: India’s second-largest wind turbine manufacturer, Suzlon Energy, has reported a strong start to the year with a profit of Rs. 324 crore in Q1FY26, a 7% rise from Rs.302 crore in the corresponding period last year. The company has seen a strong rise in orders, with a total of 1GW of orders received in the quarter. The company’s revenues have risen by 55% to Rs.3,117 crores in the back of a sharp rise in its flagship wind turbine segment, which contributed Rs.2,496 crore in this quarter. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) have also increased…
New Delhi: Indian electronics exporters have been forced to look at alternative markets due to the US’s hiked tariff plans. Though finished electronics, including smartphones, have been exempted from the 25% tariffs, component manufacturers are a worried lot as their primary market has effectively closed. Domestic Original Equipment Manufacturers (OEMs) making power electronics, consumer products and PCB assemblies are a worried lot due to these arbitrary tariffs imposed on them. To hedge their bets, these companies are now looking at Europe, the Middle East and Africa as alternative destinations. The revised tariffs will be imposed from August 26, and most…
Mumbai: India’s largest hospitality chain, Indian Hotels Company Limited (IHCL) has announced the acquisition of 51% controlling stakes in two midscale hotel chains- Lucknow-based ANK Hotels Private Limited, and Jaipur-based Pride Hospitality Private Limited. ANK Hotels operates 67 hotels across India under the Clarks brand while Pride operates 24 hotels under the Pride banner. Collectively, both brands will add to the Tata Groups 390+ hotels under its various brands. The Tata Group-backed firm will pay Rs.110 crore for its stake in ANK and Rs.94 crore for Pride Hospitality, with the deals expected to close by November 2025. Along with this,…
Mumbai: Adani Defence and Aeronautics, through its JV Horizon Aero Solutions, has agreed to acquire Nagpur-based Indamer Technics, which operates a 30-acre greenfield aircraft Maintenance, Repair and Overhaul (MRO) facility with a capacity for 15 aircraft bays across 10 hangars. Adani Defence has already become India’s largest private MRO operator last year, after it acquired Bengaluru-based Air Works. Horizon Aero Solutions is a 50:50 JV between Adani Defence and Aeronautics and Prime Aero, a company owned by Prajay Patel, the director of Indamer Technics. Strategically located in central India, Indamer Technics’ greenfield facility offers all kinds of MRO services, including…
New Delhi: Noida-based electronic contract manufacturer PG Electroplast Limited (PGEL)’s shares fell almost 35% after the company reported a 20% decline in its net profit from Rs.84 crore in Q1 FY25 to Rs.67 crore in the corresponding quarter this year. The company has attributed this to rising supply costs and thinner margins, a pattern similar to its competitors in the niche. “The early arrival of the monsoon impacted seasonal sales for Room ACs, making Q1 a more subdued start to the year. However, underlying demand indicators remain robust, and we see significant long-term potential given the relatively low penetration levels…
