Author: Abizar Attari
News Editor

With longtime CEO Warren Buffett now handing over the reins to incumbent CEO Greg Abel, renowned venture capital firm Berkshire Hathaway is seeing a wind of change for the first financial quarter under Abel. This has marked a rebalancing of its $280 billion equity portfolio, with the company making bold bets it earlier never considered. For starters, the company has re-entered the aviation sector, long avoided by Buffett after his troublesome investment in USAir. Under CEO Abel, the company has invested $2.8 billion in Delta Airways for a 6.1% stake, after the company had sold more than $4 billion worth…

Gurugram: Manufacturing giant Amber Enterprises reported a 22% rise in revenues to ₹12,186 crore, as the company has successfully scaled from its AC manufacturing business to become a larger Original Equipment Manufacturer (OEM) working in the consumer durables, electronics, railways and defence domains.  The company has reported a 22% rise in Operating EBITDA to ₹ 970 crore, with a corresponding rise in operating PAT to ₹338 crore for FY26, though further details haven’t been disclosed.  Over the year, the company has acquired stakes in Shogini Technoarts (80%), Unitronics (50.4%) and Power One Microsystems (60%) as the company looks to bolster…

Ahmedabad: Home appliance brand Symphony Limited has been pushed into a ₹218 crore loss in Q4FY26 on account of the impairment challenges with its Australian subsidiary. This loss has worsened over time, even as it reported a ₹79 crore net loss reported during the same period last year. The reason behind the hit: The doomed Australian acquisition  This loss has come mainly from its 2018 acquisition of Climate Holdings Pty Limited. The Ahmedabad-based company had acquired the Australian company to establish a cross-border cooling footprint, but the acquisition has remained a drag on the company for years, given the high…

New Delhi: The Blockade of the Strait of Hormuz has worsened India’s trade imbalance, despite merchandise exports rising 13.78% to hit $43.56 billion in April, according to data released by the Commerce Ministry. The trade deficit has widened to around $26.5 billion from $20.67 billion recorded in March, overshooting market estimates. This pattern has been repeating from the previous financial year, even as exports reached the $860 billion mark.  For exporters, the double-digit rise in merchandise exports has come at a time when shipping has become prohibitively expensive due to the conflict in the Middle East, with the Strait of…

New Delhi: India’s legacy airline, Air India, has been caught in a spiral of losses it hasn’t been able to escape, and its second-largest shareholder, Singapore Airlines, has borne the brunt of this. With a net loss of ₹26,800 in FY26, an almost 12-fold surge from the previous year, Air India requires all the help it needs to get out of this mess.  Singapore Airlines Group (SIA), which holds a 25% stake in the carrier, has had to write down 57% of its profits as it looks to bail out the carrier. According to reports, SIA has had to report…

Mumbai: Home textile major Welspun Living Limited (formerly Welspun India) has announced weak Q4 financial results, with its total income declining to ₹24,512 crore in Q4FY26 from ₹24,482 crore recorded in the same period last year. This 7.4% decline also came with a corresponding 21.3% decline in Profit After Tax (PAT) after including exceptional items.  The company’s EBITDA margins have also declined by 121 basis points during the same period.  This sluggish performance has come due to ongoing inventory adjustments from global retail partners, even as inflationary pressures have discouraged discretionary spends in North America and Europe.  Margin Pressures, Softened…

New Delhi: Renewables major Inox Clean Energy has announced the acquisition of US-based Boviet Solar’s assets in a deal worth $750 million. This transaction is the 9th acquisition by the Noida-based company, helping it get a step ahead of its 11 GW targeted clean manufacturing capacity. Boviet Solar has a 3 GW solar module facility and another 3 GW solar cell facility in the pipeline, with both facilities using advanced TopCon technology. The company aims to tap into the rising US Power demand by offering a ‘Make In America’ solution, given Boviet Solar’s status as a Tier 1 manufacturer in…

New York: In a sign of increasing trust in blockchain technology, US-based investment banker JPMorgan Asset Management has launched a tokenized money market fund on the Ethereum blockchain, following the US government’s clearing of various regulatory grey areas by passing the GENIUS and CLARITY Acts. With an initial investment of $100 million, the fund is designed to invest only in US Treasury and other debt securities.  Currently available to US investors, the fund is called the JPMorgan OnChain Liquidity–Token Money Market Fund (JLTXX), where qualified investors can subscribe to the fund through JP Morgan’s open architecture trading platform Morgan Money®. This…

Bengaluru: Centum Electronics Ltd announced its audited financial results for Q4 with a record 25.6% QoQ rise in revenue to ₹344 crores as the company worked to execute a strong order book for the year. This includes projects across its portfolio in the aerospace and defence manufacturing secto₹ In fact, its order book has risen 22.7% to ₹ 1,645 crore on a year-on-year basis.  Along with this, the company has declared a dividend of ₹ 5 per share following approval from the shareholde₹  Standalone Dominance vs. Foreign Subsidiary Drag Despite this, Centum has recorded a net loss of ₹51.81 crore…

New Delhi: The Ministry of Commerce and Industry has announced that India’s wholesale inflation has risen to 8.3% in April, a significant jump due to the massive surge in prices of crude oil, natural gas and power, following the disruptions in oil supplies from the Middle East.  This unexpected rise in wholesale inflation will cascade to retail prices soon, even as Brent crude prices rise above the $105 mark as the Strait of Hormuz continues to be blocked. Fuel and power inflation has risen 24.71% in April from 1.05% in March. The overall Fuel and power index has risen 18.22%…