Mumbai: Walmart-owned Flipkart Limited has entered into an agreement to sell 31.25% of its stake in Arvind Fashion’s Arvind Youth Brands, the holding company for the Flying Machine brand, for ₹135 crores, just half of the ₹260 crores the e-commerce platform had invested in 2020. According to an exchange filing by Arvind Fashions, the company will buy back 58 lakh Compulsory Convertible Preference Shares (CCPS) of ₹ 100/- each upon closure of the transaction, making Arvind Youth Brands Private Limited (AYBPL) a wholly owned subsidiary of Arvind Fashions. Flipkart’s investment in Flying Machine came at a time when the brand…
Author: Abizar Attari
Abizar Attari
I’ve always had a fascination with storytelling. Analyzing diverse perspectives and helping people understanding them simply is my life’s motto. I live to create stories that you’d love to read. When I’m not writing, you'll find me having a leisurely stroll on the beach or in the park.
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Hyderabad: Viceroy Hotels Limited has approved the acquisition of Hyderabad-based SLN Terminus Hotels and Resorts, thereby strengthening its presence in the city’s key Gachibowli area. The acquisition involves acquiring a 75-room hotel in a mixed-use development linked to Viceroy’s director S Prabhaker Reddy. The property is currently operated under a Marriott-linked brand, as per regulatory disclosures. The acquisition is a related-party transaction and is aimed at strengthening the company’s market presence and asset base. Viceroy currently has two hotels in Hyderabad. According to a regulatory filing, SLN Terminus Hotel has a turnover of Rs. 43.45 crore with a net profit…
New Delhi: Punjab National Bank (PNB) has reported a fresh loan fraud of Rs.2,434 crore involving the former promoters of SREI Group, marking the second major fraud after Nirav Modi defrauded the bank of almost ₹12,000 crore in 2018. The bank has provisioned for the entire outstanding amount, even as both companies are now resolved under the Insolvency Code. In an exchange filing, PNB said that it has provisioned ₹1,240.94 crore lent to SREI Equipment Finance (SEFL) and another ₹1,193.06 crore to SREI Infrastructure Finance (SIFL). This development comes four years after the RBI ordered insolvency proceedings against the erstwhile…
San Francisco: AI chip giant Nvidia has announced a $20 billion deal with AI high-performance accelerator chip designer Groq to license its technology, Groq said in a blog post. Besides the ‘non-exclusive’ license to Groq’s technology, its founder, Jonathan Ross, as well as Groq President Sunny Madra and other members of its engineering team are also expected to join Nvidia. Groq, not to be confused with Elon Musk’s AI assistant Grok, is a market leader in the trained AI inference models market, which involves AI models that have already been trained to respond to user requests. Though Nvidia remains the…
New Delhi: India’s real estate market witnessed a sharp slowdown in the October December quarter, with home sales across nine key cities falling 16% from the same period last year, ANAROCK’s latest report says. This development comes at a time when real estate developers were hopeful of a surge in demand, mostly on the back of cheaper loans due to lower GST rates. According to the report, the Mumbai Metropolitan Region (MMR), saw an 18% fall in housing unit sales with around 1.28 lakh units sold. Pune followed with nearly 65,100 units sold, a sharper 20% drop since last year.…
Mumbai: With Novo Nordisk’s Semaglutide patent due for expiry in various markets, India’s leading generic drugs manufacturer Biocon has signed a licensing agreement with Ajanta Pharma to market its version of Semaglutide in those markets. This comes at a time when the weight loss drug market is exploding, with many seeking the Semaglutide-based injectable to manage their diabetes and weight loss. Under the agreement, Biocon will manufacture and supply Semaglutide to Ajanta Pharma, which will handle marketing and distribution in 30 countries, mostly in West Asia, Central Asia and Africa. With the patent exclusivity expiring soon in these markets, Biocon…
Amravati: Vedanta Ltd has received a conditional No Objection Certificate (NOC) to drill 20 onshore oil and gas wells in the Krishna district of Andhra Pradesh, according to reports. The Andhra Pradesh government has approved Vedanta’s request under the Discovered Small Fields Policy, 2018, with conditions that include the prohibition of water supplied from surface water bodies linked to the irrigation system. Vedanta Limited’s Cairn Oil and Gas division had applied for 35 oil wells but the Andhra Pradesh government has approved only 20, after detailed analysis of the requirements. Vedanta has been looking to ramp up its domestic oil…
Mumbai: Investors who have received shares of the recently help Gujarat Kidney and Super Speciality Ltd IPO will get their allotted shares by the end of the day on December 26, 2025. The IPO, held between December 22 to 24, saw the issue oversubscribed by 5.21 times, with the retail category oversubscribed 19.04 times, the NII category was subscribed 5.73 times while the QIB category was oversubscribed 1.06 times. The ₹250.80 crore IPO was priced at ₹108 to ₹114 per share, an entirely fresh issue of 2.20 crore equity shares. The Vadodara, Gujarat-based company operates a hospital specialising in various…
New Delhi: The insatiable demand for copper, mostly from AI data centres, power infrastructure and EV manufacturing industries, has resulted in the commodity rising almost 40% in 2025, with prices expected to reach up to $13,500 per tonne in the international markets, analysts say. Currently, copper is trading at $12,100 per tonne, with domestic prices hovering around Rs.1,150-1,170 per kg. “Factors are still variable for copper. We are expecting copper prices to test USD 13,500 per ton on the LME, and domestically, we can see prices moving to the level of Rs 1,350 per kg in the first half of…
Investors looking to claim their long lost securities now have a reason to cheer. Market regulator Securities and Exchange Board of India (SEBI), in a recently issued draft circular, has made the process of issuing duplicate share certificates easier, reducing the market uncertainties and long-lost documentation procedures that were prevalent. “These measures aim at ease of investments for investors and facilitate restitution of investor rights in securities. As duplicate securities issued would necessarily be in demat mode, this will result in increased dematerialisation,” SEBI said in a circular released on December 24. According to this circular, investors who have lost,…
