New Delhi: With retail fuel prices rising by almost Rs.4/liter due to escalating global oil prices, a widely cited report says that the government is looking to spend $1 billion to nudge private commercial bus and truck operators to switch to Electric Vehicles (EVs). According to the report, the scheme is targeted at the private fleet segment, which accounts for more than 85% of the total commercial vehicles plying on Indian roads. Previous programs like the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) subsidy and the PM e-Bus Sewa awas aimed mostly at state-run municipal transport bodies,…
Author: Abizar Attari
Abizar Attari
Abizar has been writing before AI started to take over your lives! His expertise lies in analysing diverse perspectives and simplifying them for laymen. Beyond writing, storytelling and editing, he enjoys running, learning and enjoying the outdoors.
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Bengaluru: Following its ₹1,788 crore IPO in January, Bengaluru-based entertainment SaaS infrastructure leader Amagi Media Labs has silenced its critics by engineering a sharp financial turnaround. For the quarter ended March 2026, the company has reported a net profit of ₹27.16 crore, as against a net loss of ₹121.48 crore in the same period last year. Revenues from operations rose 29.5% year on year to reach ₹949.23 crore even as the company’s incremental expenses rose by just 16.3%. The Organic Retention Engine Amagi’s organic expansion was fueled by a rise in the Net Revenue Retention (NRR) rate to reach 127%.…
New Delhi: Balrampur Chini Mills Limited, through its philanthropic arm Balrampur Foundation, has launched the “Building Skills. Transforming Futures – Balrampur Bioyug Bioplastic 3D Printing Project” aimed at training young women with advanced manufacturing skills through 3D printing technology. The development programme, conducted at ITI Mohammadi, at Lakhimpur Khiri in Uttar Pradesh, will also see VAP 3D join the initiative as a knowledge and technical partner. Launched on May 19, the program has already inducted a small cohort of 20 female ITI students in its pilot phase, with the company looking to train these women in 3D printing using Bioyug…
Gautam Adani heaved a sigh of relief as the US Department of Justice has given him and his nephew Sagar Adani the ‘clean chit’ against a civil lawsuit that accused him of paying bribes in India with US investor money. This The Adani Group will be paying $18 million in penalties to settle the cases filed by the US Securities and Exchange Commission. This comes a week after the New York Times reported that the Adani’s have promised to invest $10 billion in the American economy and create 15,000 jobs, though further details haven’t been revealed. The report further claimed…
India’s startups have a lot riding on them. They represent the hope and the aspiration of becoming multinational conglomerates that could, one day, dominate the niches they work in. TCS, Infosys, Sun Pharma, Tata Motors and Coforge have, over the years, become conglomerates through organic and inorganic growth, thereby cornering a significant global market share. According to the Department for Promotion of Industry and Internal Trade (DPIIT), India has more than 2,00,000 startups and boasts of 100+ unicorns, making it the world’s third-largest startup ecosystem after the US and China. This ecosystem consists of a team of venture capitalist firms…
Jaipur: Smart electricity metering manufacturer Genus Power Infrastructures Limited continues to report stronger numbers as the company works to fulfill the government’s Revamped Distribution Sector Scheme (RDSS) goals. For Q4FY26, the company reported a 41% rise in net profit to Rs.181 crore from Rs.128 crore in the same period last year. The company’s consolidated revenues for the period also reached Rs.1,523.7 crore as against Rs.936.8 crore for the same period last year, a 62.7% year-on-year growth. The company’s order book is currently worth about Rs.25,173 crore with various discoms working with it to implement the RDSS scheme. This winning streak…
New Delhi: After raising petrol and diesel prices by ₹3 following PM Modi’s appeal for austerity, the government has, in another surprise decision, hiked fuel prices further by another 90 paise, even as crude oil prices continue to rise further. Following the conflict in the Middle East, oil prices have been rising steadily, with prices almost doubling from $60 a barrel to prices now reaching $120/barrel today. This hike has come at a time when India remains the last major economy to hike fuel prices, even as Oil Marketing Companies (OMCs) have had to bear losses in excess of ₹1,600…
New Delhi: Encouraged by its expansive Indian presence and the government’s latest rules allowing 100% Foreign Direct Investment (FDI) in insurance, UK-based Prudential Plc has bought 75% of Bharti Life Insurance for Rs.3,500 crore, while realigning its existing business. To do that, the company will have to trim its stake in ICICI Prudential Life Insurance from 22% to 10% to meet regulatory norms. Bharti was reportedly looking to sell a controlling stake in its insurance arm, earlier known as Bharti AXA Life Insurance. The company will retain a 25% stake in the company, while 360 ONE Asset Management, who held…
Mumbai: The Nifty IT index has risen 2% on Monday, May 18, as the IT sector witnesses a sudden reversal following the weakening of the Rupee. The export-focused sector has become the only major index to escape losses, as cyclical challenges due to the weakening domestic currency have affected the overall equity market. Heavy institutional sell-offs have dragged the benchmark Sensex and Nifty down for quite some time now, with even the Nifty IT index falling over 7% in the previous four sessions. Today, the Nifty index has remained one of the strongest pillars of the market, given that almost…
New Delhi: Cochin Shipyard Limited’s (CSL) shares fell 7% on May 18 following concerns about the company’s declining sales figures. The state-owned defense PSU has seen its net sales drop 14.28% year on year to ₹1,641.33 crore for Q4 FY26 as the company has witnessed the suspension of a few vessel projects along with some ongoing governance concerns. This comes at a time when the company’s quarterly operating EBITDA has climbed to ₹466.82 crore, even as its net profit has declined by 3.7% year on year to ₹276.48 crore. For the full fiscal year, the company’s consolidated net profit has…
