Author: Abizar Attari
News Editor

New Delhi: Nissan Motor, once Japan’s fourth-largest carmaker, is set to lay off 20,000 workers as part of its strategy to restructure its business. The company had earlier planned to lay off 9,000 workers, but it is now set to lay off 20,000, as per NHK. The company had announced plans to layoff workers in November, as it found it extremely difficult to compete against EVs and other rivals in the US and China, its two biggest markets. The company hasn’t been able to capitalize on the growing popularity of EVs, even as its product lineup has become outdated. The…

New Delhi: In early morning trades on May 12, the BSE Sensex soared 2,015.54 points to cross the 80,000 mark, while the Nifty50 rallied 625 points to 24,633. This rally has been attributed to the Indo-Pak ceasefire on Saturday, May 10, along with stronger results Q4 results by leading companies, where net profit has increased 12.4% on an average compared to last year, which is the best in 8 quarters. Revenues have also grown 21.35% on average per quarter, cheering investors. FII retain their trust Foreign Institutional Investors (FIIs) have invested about $5.8 billion since mid-April,  more than other emerging…

New Delhi: Japan-based Sumitomo Mitsui Banking Corporation (SMBC) has acquired a 20% controlling stake in Yes Bank after months of negotiations with SBI and other major shareholders. SBI will divest 13.19% of its holding in Yes Bank while other shareholders- HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IDFC First Bank, Federal Bank and Bandhan Bank, will collectively sell their 6.81% stake to SMBC. This values the Mumbai-headquartered bank at Rs. 67,411 crore, with a purchase price of Rs. 21.5 per share. SBI will continue to hold about 10% of its stake in the bank. Mr. Prashant Kumar, Managing…

New Delhi: For many aspirational buyers, a car is an investment that’s second only to their dream home. A symbol of status and prosperity, a first-time car buyer would consider all options before zeroing on the right choice. Though comfort- and utility- based features like power steering, ACs and others do make an impact, the success (or failure) or any model has always depended on how far it can go with every liter of petrol. Automakers in India have forever struggled to improve their designs to match this primary requirement of fuel efficiency with comfort, all the while meeting the…

New Delhi: There’s something about comebacks that catch the imagination of everyone. Everyone admires Steve Jobs, who made Apple the most valuable brand it is today. After being rehired to lead the company he founded, he dared to do things differently, and succeeded in turning Apple into an aspirational brand. Every business faces a host of threats and challenges they need to overcome, what matters is how the people behind the brand do so.  In India, Tata Motors has seen a see-saw in its fortunes, and has shown remarkable resilience even as newer technologies disrupt existing technologies. It started by…

Kabhi kabhi jeetne ke liye kuch haarna bhi padta hai … aur haar kar jeetne waale ko baazigar kehte hai For Tarun Mehta and Swapnil Jain, nothing but this could be their best response to their IPO expected this year, as they have had to put a brave face in the midst of a recession, declining market share, reduced valuation and mounting losses. New Delhi: Ather Energy has been one of the poster boys in the Indian startup scene- though not as popular as Bhavish Agarwal’s Ola Electric. It had a headstart in the 2-wheeler EV space, its S340 scooter…

New Delhi: Imagine going to a library where there’s a lot to learn, but limited time to search what you want. You meet a friend there, who knows the place better than you do. She gives you a book, you read it, believing it to be true. After you get home, you start seeing the world in a different way, sometimes subconsciously.  For today’s smartphone-addicted kids, that library is social media, and that friend could be anyone you come across online, most of them with questionable intentions. Experts see social media as a dangerous addiction, warning parents to control their…

New Delhi: The BSE has reported a total revenue of ₹ 3,236 crore, more than double from ₹ 1, 596 from last year. This has been attributed to operational revenues that surged by 116% from last year. The net profit increased to ₹1,326 crore from ₹404 crore, a 227% increase from last year. BSE’s net profit margin has increased to 41% from 25%. Operational revenues have surged to ₹2,957 crore this year. The BSE has announced a total dividend of ₹ 23 per share to reward shareholders, with a ₹5 special dividend and ₹18 normal dividend. The BSE has seen…

New Delhi: Swiggy’s consolidated net loss doubled to Rs. 1,081 crore for Q4 FY 2025 from Rs.554 crore during the same period last year. This is even though revenues surged by 44.8% for the same period from Rs.3,045.5 crore to Rs. 4,410 crore due to increasing growth in the food delivery and quick commerce segments. The company has been aggressively marketing to capture market share amid fierce competition in the quick commerce sector. It spent Rs.977.2 crore in Q4 FY2025, a 135% rise from last year. Overall, the company’s total expenses increased to Rs. 5,609.6 crore from Rs. 3,668 crore…

New Delhi: The recent India-Pakistan tensions have resulted in a significant depreciation of the  Rupee’s value, with a significant depreciation of over 1 percent, the worst since February 6, 2023. A stronger US Dollar and higher crude prices have compounded the situation.  The Rupee started devaluing on May 7, when the Indian military launched Operation Sindoor to target Pakistani terrorist havens in Punjab and Pakistan-occupied Kashmir. Other Asian currencies also showed signs of weakness, the Chinese Yuan reduced in value by 7.22 percent, the Korean Won depreciated by 0.83 percent while the Indonesian Rupiah was down by 0.5% as against…