Author: Abizar Attari
News Editor

New Delhi: State-run telecom operator MTNL has informed the bourses about its loan defaults to seven state-run banks- Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank and Indian Overseas Bank to the tune of Rs. 8,585 crore. MTNL, which operates only in Delhi and Mumbai, has seen its existing services become obsolete, despite launching its 4G services in partnership with BSNL in August last year. This is almost a decade after 4G was introduced in India in 2012. Since then, Jio and Airtel have dominated the market, and…

New Delhi: Homegrown electronics manufacturing company Dixon Technologies has announced its intent to acquire a 51% stake in Q Tech India for manufacturing, sales and distribution of camera and fingerprint modules. “The proposed acquisition of a majority stake in Q Tech India aligns with our long-term vision to be a leading enabler in India’s electronics manufacturing ecosystem by combining Q Tech’s technological expertise with Dixon’s manufacturing scale and operational excellence. This collaboration is a testament to our commitment to technological excellence, self-reliance, deepening of component ecosystem and delivering greater value to our global and domestic partners. We are confident that…

New Delhi: Reliance has launched Campa Cola in Nepal through a strategic partnership with Nepal’s leading business conglomerate- Chaudhary Group (CG). Reliance Consumer Products Ltd (RCPL), the Reliance Retail subsidiary that bought the brand’s rights in 2022, aims to disrupt the Cola market in Nepal just as it is doing with its Campa Cola brand. With this launch, Mukesh Ambani aims to leverage his financial and operational might to expand his brands portfolio beyond India, something that Reliance hasn’t been able to do so far with its customer-facing brands. Just like India, Campa Cola is being offered at competitive price…

In a development that cements cryptocurrencies’ rise as an investment opportunity, Bitcoin has surged past the $120,000 mark for the first time on July 14, with a record market capitalisation of $2.41 trillion, almost equal to the entire GDP of Italy. The flagship cryptocurrency has risen by over 29% from the same date last year, even as venture capitalists, governments and individual investors take notice. Bitcoin has come a long way since its launch in early 2009 by an anonymous coder who no one has been able to identify yet. Bitcoin first attracted authorities’ attention when it first rose to…

New Delhi: Noida-based HCL Technologies Q1 FY26 results have been somewhat disappointing, with net profits falling 10.8% from Rs.3,986 crore to Rs.3,843 crore, according to a release submitted to the bourses on Monday. As India’s third-largest IT Company, HCL Technologies has had to deal with multiple challenges, including tariff uncertainty in the US and AI implementation. It has lowered its operating margin forecast to 17-18% from 18-19% earlier. “We had healthy revenue growth of 3.7% YoY supported by good performance in our Services business with 4.5% YoY growth in constant currency. Our operating margin came at 16.3%, impacted by lower…

Mumbai: Lupin Ltd, one of India’s largest generic pharma players, has recommended a Rs.12 final dividend per Rs.2 share, according to a press release to the bourses on Monday, July 14. The dividend is expected to be approved during the company’s Annual General Meeting (AGM) scheduled for August 11. Over the past 2 months, the company’s shares have been in focus as it won two USFDA approvals for key drugs: Prucalopride tablets for chronic constipation treatment and Loteprednol Etabonate Ophthalmic Gel for treating inflammation and pain after ocular surgery while it has signed an agreement to commercialise Certolizumab for treating…

Pakistan seems to be looking at cryptocurrencies as a ‘magic pill’ to solve its perennial economic woes. Just when virtual currencies were beginning to become a serious alternative to established fiat money, Pakistan’s central bank banned its banks from processing cryptocurrency transactions.  Last week, the Pakistani government passed the Virtual Assets Act, 2025, formally paving the way for creating an autonomous watchdog, the Pakistan Virtual Asset Regulatory Authority (PVARA). This regulator aims to keep a tab on crypto transactions and identify terror financing in Pakistan. Through the newly formed Pakistan Crypto Council (PCC), the government aims to promote and regulate…

New Delhi: Bhavish Agarwal’s Ola Electric’s Q4 results offered its investors a ray of optimism after months of negative publicity due to Ola’s issues with customer service, value erosion and a public fallout involving comedian Kunal Kamra over Ola’s customer complaints. According to a release to the bourses, Ola Electric reported a Rs.828 crore revenue from operations, a steep 50% decline from the Rs.1,644 crore reported for the same period last year. Its net loss widened to Rs.438 crore from Rs.347 crore last year for the same quarter. Despite this, the company aims to achieve a revenue between Rs.4,200 to…

Mumbai: India’s leading luggage maker VIP Industries is set for a management change as the promoter group led by Dilip Piramal and family has announced its intent to sell a 32% stake in the company to Multiples’ Private Equity-led consortium. The announcement, which also included a 26% open offer for its shareholders, was made late on Sunday, 13th July. The 32% stake will be acquired for Rs.1,763 cr at Rs.388 per share, a 15% discount to VIP Industries’ last closing price on Friday,11th July. The open offer for the additional 26% will be worth Rs.1,437 crore, giving the Multiples’ PE-led…

New Delhi: After the Adani-Hindenberg saga, another short seller has accused Anil Agarwal-led Vedanta Resources of running a ‘ponzi scheme’ with its Mumbai-listed subsidiary Vedanta Ltd. New York-headquartered Viceroy Research has released a daming report early this week on Vedanta Resources, where it calls Vedenta Resources Ltd (VRL) a ‘parasite’ that has no significant operations of its own, but gets Vedanta Ltd (VEDL) to borrow heavily to pay it dividends. The report alleges that Vedanta Ltd had a Rs.46,000 crore cash shortfall even as it paid Rs.66,400 crore in dividends during that time, money it never earned.  Along with this…