New Delhi, September 09: Coforge’s shares fell more than 4% in early morning trades on Wednesday after the abrupt resignation of its Chairman Om Prakash Bhatt. This comes after an internal audit revealed that he had withheld information in the audit evaluation process, and resigned even though the board hadn’t made a final decision in the matter. This development has concerned investors, raising questions about corporate governance at the IT services firm. In regulatory filings, the company said the resignation was linked to ‘material reasons’ related to the evaluation of board members, a critical process that ensures transparency and accountability…
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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Mumbai, September 9: Kiri Industries Limited (KIL)’s subsidiary, Equinaire Holdings Ltd(EHL), has won the bid for a 40% equity stake in Makilala Mining Company, Inc. (MMCI), a prominent mining company developing a copper-gold mining project in Pasil, Philippines. The acquisition, valued at $5.01 million, allows EHL to secure resource rights in the critical minerals supply chain. The project is regarded as a high-potential asset in the region, known for its substantial copper and gold deposits. With this, EHL gains exposure to an increasingly vital source of raw material required for industrial applications. The investment aligns with Kiri Industries’ broader…
Gurugram, September 8: Honasa Consumer Limited, the parent company led by Shark Tank judge Ghazal Alagh, has appointed Nishchay Bahl as Chief Business Officer (CBO). In this new role, Bahl will lead the company’s offline businesses, including Mamaearth, The Derma Co., and Aqualogica, as the group focuses on scaling distribution and strengthening the group’s presence in the offline market as well. Bahl has played a pivotal role in the company’s aggressive expansion into physical storefronts and general trade over the years, given his strong experience with leading FMCG brands like Procter and Gamble (P&G), Reckitt and Kellogg’s, spanning more than…
New Delhi, September 8: The Reserve Bank of India (RBI)’s efforts to mop up surplus liquidity in the markets has hit a roadblock, with just ₹2.59 lakh crore mopped up through the variable rate reverse repo (VRRR) auction, just half of the target. This comes after the banking system now has an unprecedented ₹11.16 lakh crore liquidity, strengthened by the better-than-expected mop-ups from the FCNR(B) scheme for NRI investors. The RBI held 30 day auctions for the VRRR through its e-Kuber portal. However, a technical glitch disrupted the bidding process, with banks and other participants caught unawares whether their bids…
Bengaluru, September 8: In a move that strengthens its foothold in Latin America, Biocon Limited has secured a 10-year partnership agreement to supply breast cancer drug Pertuzumab in Brazil. The agreement, made in collaboration with the Brazilian public pharmaceutical laboratory Bahiafarma and the domestic biotechnology firm Bionovis, grants the consortium exclusive access to the nation’s public healthcare sector. The consortium received a 100% allocation under the PDP for Pertuzumab, effectively capturing approximately 70% of the total Brazilian demand for the therapy, which is currently met through the public Unified Health System (SUS). Under the contract, Biocon will eventually localise production…
New Delhi, September 07: National Aluminium Company Limited (NALCO), a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Mines, has signed an agreement with Emirates Global Aluminium (EGA) for the brownfield expansion of its aluminium mine in Odisha. Under this agreement, NALCO will deploy EGA’s proprietary DX+ Ultra smelting technology to enhance operational efficiency and production capacity, marking a transformative phase for the Indian aluminum giant. EGA’s DX+ Ultra technology uses high amperage and lower power consumption, reducing its environmental footprint. Licensing the technology from EGA allows NALCO to adopt to the global best practices and cutting-edge industrial…
It’s every tech-obsessed kid’s dream to get into the Indian Institutes of Technology (IITs), even though the odds are highly stacked against you. But the roughly 1% who do manage to get into the IITs gain access to India’s best alumni network, which has created some of the biggest success stories in business. These elite engineering graduates have proven that India has what it takes to create a memorable, relatable, and reputed company that rivals the best in the world, showing that India can create standalone brands that customers prefer to buy over others. Here are some of the leading…
Bengaluru, September 07: In a landmark move for India’s spacetech sector, Bengaluru-based startup Pixxel has successfully closed a $100 million Series C funding round. The investment, led by prominent venture capital firm Seraphim Space and Singapore’s state-owned investment firm Temasek, marks one of the largest capital infusions into the Indian private space sector to date.Besides this, new institutional investors like 360 ONE Asset and South Korea’s IMM Investments also participated in the funding round. A substantial portion of the funds will be deployed towards the company’s ‘MegaPixxel’ assembly, integration and testing (AIT) state-of-the-art facility in Bengaluru. Besides this, Pixxel aims…
Goa, September 07: After raising ₹939 crore through an IPO in August this year, Molbio Diagnostics has announced a consolidated net profit of Rs 52.74 crore for the first quarter of the 2026-27 fiscal year. This marks a significant reversal from the ₹ 23.94 crore loss it recorded during the same period last year, as the company has had to deal with high operational costs, and the challenge of dealing with uncertain government contracts that got delayed, affecting almost 80% of its revenues. Following its transition to a public entity, the company’s revenues have declined by 27% quarter-on-quarter (QoQ) as…
Muzaffarpur, September 04: India’s leading cinema chain, PVR INOX, has inaugurated its first cinema in Muzaffarpur under its ‘SMART’ cinema brand at the Icon Plaza Mall. This launch increases the total screens in Bihar to 11, as the company looks to expand underserved regions with high quality yet affordable entertainment options. “We have roughly 1,800 screens. But in small cities, where the population is between 1.5 and 5 lakhs, our PVR cinema experience is still there. We have a lot of cinemas, but there wasn’t an affordable cinema that we wanted to provide. So we thought the right time had…
