Author: Abizar Attari
News Editor

New Delhi:  Union Finance Minister Nirmala Sitharaman presented her ninth budget today, February 1, making a series of announcements aimed at encouraging entrepreneurship through the Government’s Sabka Saath, Sabka VIkas clarion call. In her speech, the finance minister focused on three kartavyas- Boosting economic growth Fulfilling aspirations of Indian people and Boosting access to resources and opportunities for everyone For the various startups aiming to meet these goals, the Finance Minister has allocated Rs.10,000 crores to MSMEs under the MSME Growth and Resilience Fund, where companies can access credit quickly, mostly to meet tight delivery deadlines. This has been a…

Mumbai: Hindustan Zinc Ltd has surged about 4% today after the Anil Agarwal-led company announced plans to offload 6.7 crores in the company through an Offer For Sale (OFS). The stake sale, accounting for about 1.59% of the zinc producer’s equity, is aimed at strengthening Vedanta’s balance sheet.  Vedanta owns about 62% of Hindustan Zinc, which remains India’s only integrated zinc producer, recovered from zinc and lead ores. A former PSU, Vedanta had bought Hindustan Zinc from the government in 2003. That investment has become one of the biggest bets yet for the Anil Agarwal-led company, which has been quite…

Mumbai: Gautam Adani cemented his ambitions to rule the skies after he signed a Memorandum of Understanding (MoU) with Brazil’s Embraer to assemble commercial aircraft in India. According to a joint statement by both companies, the MoU will explore cooperation in aircraft manufacturing, supply chains and aftermarket services, but hasn’t disclosed financial details. “Timeline and other details will be revealed in the next couple of months. We also expect to immediately start work on the selected site parallely,” Jeet Adani, Director at Adani Defence and Aerospace said, as the company is hunting for locations and planning other details for the…

Mumbai: Tata Consumer Products Ltd has reported a 15% year-on-year increase in revenues for Q3 FY26, as the company has consolidated its presence in the beverage and food businesses through its acquired brands, Ching’s Secret and Organic India. During the quarter, Tata Consumer has seen its net profits rise to ₹385 crore a 36% year on year (YoY) growth from the same quarter last year. The company’s packaged beverages business grew at 3% with its coffee division recording a standout growth of 40% for the quarter. Its India Foods division grew at 19%, with salt revenues growing steadily at 14%…

Mumbai: Multi-Commodity Exchange of India Ltd (MCX), responsible for commodities trading in India, has reported strong third-quarter results, with an almost 151% increase in Profit After Tax (PAT) to ₹401 crore. The company has witnessed strong trading volumes lately, mostly on the back of relaxed commodity derivatives participation and margin structures, boosting its income from ₹324 crore in Q3 FY25 to ₹697 crore this time, a 115% increase. Over the first 9 months of FY26, the company’s operating income increased to ₹1,413 crore, a 69% increase from ₹821 crore recorded for the corresponding quarter last year. The company has witnessed…

Mumbai: Wockhardt Ltd, the first Indian company to file a New Drug Application with the US FDA, is now looking to cement its position even as its Zaynich superbug antibiotic is expected to launch in mid 2026. The company’s Foviscu (WCK 4282) antibiotic has achieved a high clinical cure rate of 93.23% in its Phase 3 trials, the company said in a press release. This comes after the company’s other four antibiotics, Emrok, Emrok O, Miqnaf, and Zaynich, have all moved a step forward in their respective Phase 3 trials, with the hope that they’ll be launched across markets soon.…

In May 2020, Prime Minister Narendra Modi announced the Aatmanirbhar Bharat Abhiyaan, a mission to boost India’s presence in the world’s supply chains, helping it reduce reliance on exports and boost domestic manufacturing. This was during a speech for an economic stimulus plan during the height of the pandemic.  Under the Aatmanirbhar Bharat Abhiyaan, India encouraged Research and Development of technologies, products, components and systems that were usually bought in from abroad. The intention has been to make India one of the leading innovators in the world, even as we haven’t been able to fulfil our potential. In 2020, India…

Following PM Modi’s Aatmanirbhar Bharat call, and encouraged by the Production Linked Incentive (PLI) scheme, many products that were earlier imported are now Made In India, Made By Indians. Over the last decade, India has been working towards becoming a ‘manufacturing-led’ economy, where we produce what we need, while also meeting the demand overseas. From 2013-14 to 2023-24, India’s total exports have risen to about $778 billion, a 67% increase, with merchandise exports alone accounting for more than half of that.  According to government-linked sources, FDI in manufacturing between 2014-2024 has been at about $165.1 billion, an almost 69% rise…

Mumbai: Vakrangee Ltd, an ATM services provider, reported a 201% year on year (YoY) increase in consolidated net profit to ₹3.15 crore in Q3 FY26, despite a 10.3% decline in income. The company has attributed this to a direct supply of ATM machines to Vakrangee, with the elimination of inter-company sales from its subsidiaries. The company’s total income was ₹68.6 crore in Q3 FY25, which has declined to ₹61.57 crore this time. The company’s EBITDA has grown 48.7% YoY from ₹6.22 crore to ₹9.26 crore, a YoY increase of 48.7%.  As a provider of white-label ATM services, Vakrangee is looking…

Mumbai: South India-focused lender SBFC Finance has delivered strong results for Q3 FY26, with its net profit rising 34% year on year to ₹118 crore as the company benefitted from improved asset quality and lower NPAs.  The company’s revenues have reached ₹426 crores, a 27.8% YoY growth, with its Assets Under Management rising to ₹10,478, a 29% increase. Its Net Non Performing Assets (NPAs) have reduced to 1.48% in Q3, from 1.63% last year. The revenue growth was driven mostly by its core lending business, with its interest income growing to ₹393 crore from ₹301 crore in the quarter ended…