The Economic Times
The Economic Times Coforge, Cigniti forge ahead with proposed merger
Coforge and Cigniti Technologies are progressing towards a merger, with EY and Axis Capital preparing terms for shareholder approval. Coforge plans to absorb Cigniti, with shareholders receiving Coforge shares based on a determined swap ratio. Coforge's market value has doubled recently, and the acquisition aims to leverage synergy in client locations.
The Economic Times Reliance Retail starts test launch of Shein labels on Ajio platform
Reliance Retail is testing sales of Shein's casual women's westernwear on its Ajio platform. Despite Shein's ban in 2020, a partnership allows sales to resume domestically, abiding by government regulations. Shein will rival brands like Zudio and Myntra in the lucrative, growing Indian fast fashion market.
The Economic Times Work starts on $2-billion Tata Capital IPO
The conglomerate recently gave Kotak Investment Banking officials the go-ahead to commence the process after a meeting, they said. It plans to appoint additional bankers by January, they added.
The Economic Times $3.1 billion Vishal windfall for PE partners in IPO : Biggest capital gains for a PE in India
Return on 6-year-old investment is over 50%higher than 2nd-most profitable deal in India, little short of Tiger Global's blockbuster Flipkart bet
The Economic Times India curbing misuse of tax havens through regulatory measures, global tax standards, say experts
With international initiatives like the OECD’s BEPS framework and the implementation of global minimum taxes, the central government is tightening controls to prevent profit shifting, increase transparency, and attract genuine foreign capital, say tax experts.
The Economic Times After squeeze in urban demand, FMCG industry expects consumption revival in 2025
India's FMCG sector expects a 2025 rebound. 2024 brought high costs and inflation, slowing growth. Easing food prices and government spending offer hope. Premium products and quick commerce are gaining traction. Companies are innovating and adapting to changing consumer behavior. Rural demand is steady, and urban demand is projected to recover.
The Economic Times Car companies may hit road to robust sales next year
India's passenger vehicle sales are projected to rise 5% in 2025. Government spending, improved monsoon season, and positive rural sentiment are driving this growth. Demand for entry-level cars is anticipated to increase. Two-wheeler sales show an upward trend. The Indian economy is expected to grow by 6.7% in fiscal year 2026.
The Economic Times India's data centre capacity to more than double by FY27, on rising digitalisation: Crisil Ratings
To support the strong demand, the incremental capital expenditure would be supported by a higher proportion of debt funding, which will result in a moderate increase in debt levels.
The Economic Times Adani Defence acquires majority stake in air works India for Rs 400 crore
Adani Defence Systems and Technologies Ltd. has acquired an 85.8% stake in Air Works India for Rs 400 crore. This acquisition expands Adani's presence in the maintenance, repair, and overhaul (MRO) sector, bolstering its aerospace and defence portfolio and aligning with the 'Make in India' initiative.
The Economic Times Sebi to auction 28 properties of 5 companies next month
India's market regulator, SEBI, will auction 28 properties belonging to five companies on January 27, 2025. The auction aims to recover Rs 28.66 crore illegally collected from investors. The properties, located in West Bengal and Odisha, include land, flats, and buildings. Companies involved include Bishal Group, Sumangal Industries, and Mangalam Agro Products.
The Economic Times Bata India appoints Amit Aggarwal as new CFO
Bata India has appointed Amit Aggarwal as its new CFO and Director of Finance, effective December 23, 2024, following the resignation of Durgesh Singh, as the company expands its strategic partnerships.
The Economic Times Zomato joins Sensex, signals shift in India’s business landscape
Zomato's inclusion in the 30-stock benchmark index is driven by a remarkable rally in its stock. Shares of the Deepinder Goyal-led company have surged 45% over the past six months and 133% in 2024, compared to a 10% gain for the Sensex. Further bolstering its financial position, Zomato raised Rs 8,500 crore through a qualified institutional placement (QIP) largely led by domestic investors, the company announced on November 29.
The Economic Times India's savings rate shoots past global average: SBI report
India's savings rate has surpassed the global average as financial inclusion has shot up in the country with over 80 per cent adults now having formal financial accounts, according to an SBI report released on Monday.
The Economic Times GST Council Raises Tax On Sale Of Used Cars By Businesses To 18%
The sale and purchase of used cars by individuals continue to be exempted from GST.
The Economic Times At $5 billion, startup’s exit street buzzier in 2024
Indian startups saw over $5 billion in exits through secondary transactions, IPOs, and block deals in 2024. This trend is expected to accelerate in 2025 with a projected doubling of IPOs. Secondary deals are providing liquidity for existing investors and entry points for new investors, even in younger companies preparing for public listings.