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The Economic Times
The Economic Times US-based funds pulling out money from India at fastest pace since Jan 2022: Report
Over the last five weeks, a total of $575 million have been pulled out of India-dedicated funds, Elara Capital said. Out of the $575 million, a total of $360 million was redeemed from largecap funds, while $215 million was withdrawn from mid-cap funds.
The Economic Times Godrej Industries to buy Savannah Surfactants' food additives, emulsifier biz for Rs 76 cr
Godrej Industries is set to acquire the food additives and emulsifier business of Savannah Surfactants Limited for Rs 76 crore. The deal will see Godrej Industries expand its product offerings to the Food & Beverages segment. Savannah Surfactants Ltd has a manufacturing capacity of 5,200 tonnes per annum of finished products.
The Economic Times Physis Capital gets Rs 150 cr commitment for Rs 400 cr fund
Venture capital firm Physis Capital has secured Rs 150 crore in commitments for its Rs 400 crore fund. The firm plans to invest in 12-15 Indian startups and expects to reach final close by early 2026. Physis Capital has already made two investments, including Rs 5 crore in CTPL, a university admissions support provider.
The Economic Times Budget 2025: Nirmala Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22
Finance Minister Nirmala Sitharaman is set to meet with state counterparts on December 21-22 for pre-budget discussions and a GST Council meeting. Key agenda items include potential GST exemptions for certain insurance policies and rate reductions on various goods. The Council may also consider raising GST on luxury items like high-value shoes and watches.
The Economic Times India’s net direct tax collection grows by 15.4% to Rs 12.1 trillion
Net direct tax collection surged 15.4% to Rs 12.1 lakh crore as of November 10, 2024, after refunds of Rs 2.91 lakh crore. The net direct tax collection was Rs 10.48 lakh previous year. Gross collections reached Rs 15.02 lakh crore, up 21.2% year-on-year.
The Economic Times Air India Express to bid adieu to business class seats next year, will turn into economy only airlines
Air India Express is transitioning to an all-economy class configuration for its narrow-body aircraft. Starting in April 2025, the airline will begin reconfiguring planes to remove business class seats. This move aligns with the airline's focus on connecting smaller cities and towns with major hubs, as well as expanding its international network.
The Economic Times B2C commerce startup Wheelocity raises $15 million from Lightspeed, others
The new funding will support Wheelocity’s plans to expand operations across 20,000 towns and villages in southern India over the next year, aiming to reach a user base of 10 million.
The Economic Times IndiGo working with civil aviation ministry to extend wet lease of Boeing 777 planes
IndiGo is seeking to extend its wet lease of two Boeing 777 aircraft from Turkish Airlines beyond the current November 14th deadline. The airline, facing capacity constraints due to grounded aircraft, utilized the wide-body planes to meet surging international travel demand on its Delhi and Mumbai to Istanbul routes.
The Economic Times As IPO nears, Swiggy hires two more Flipkart executives
Swiggy has recruited two senior executives, Hari Kumar G and Shalabh Shrivastava, from Flipkart to bolster its leadership team ahead of its IPO. Kumar will oversee Instamart as Senior Vice President and Chief Business Officer, while Shrivastava will optimize product and operations for Swiggy's delivery service as Senior Vice President.
The Economic Times Samsung to expand chip packaging facilities for HBM
Samsung Electronics will expand its semiconductor package facilities in South Chungcheong Province to boost production of high bandwidth memory (HBM) chips, company officials said on Tuesday.
The Economic Times Semiconductor sector to create 1 million jobs in India by 2026, says report
As India is moving to become a semiconductor manufacturing hub, the industry is poised to generate 1 million jobs across varied sectors by 2026, a report said on Monday. This demand is expected to be seen in various categories, including an estimated 3,00,000 jobs in chip semiconductor fabrication, around 2,00,000 positions in ATMP (Assembly, Testing, Marking, and Packaging), and additional roles in chip design, software development, system circuits, and manufacturing supply chain management, said a report by talent solutions company NLB Services.
The Economic Times Vedanta Ltd. Reports Highest-Ever 1H EBITDA at $2.47 Billion
Vedanta Limited reported its highest-ever half-year EBITDA of $2.47 billion, a 46% year-over-year increase. The company attributed the strong performance to cost efficiency, volume growth, and favorable commodity prices. Vedanta expects continued growth in the second half of the year as growth projects come online and historically experiences stronger revenue generation in the latter half of the year.
The Economic Times Kamdhenu PAT grows to Rs 16 cr in Q2; board approves share split in 1:10 ratio
The board of the company also approved the sub-division or split of equity shares into a ratio of 1:10.
The Economic Times Commvault strengthens India operations with Coimbatore facility
Announcing the Coimbatore facility, Commvault in a release said it will also serve as an innovation hub for engineering and technical talent, focusing on supporting regulatory compliance and AI advancements.
The Economic Times Ambuja Cements seeks CCI nod to acquire majority stake in Orient Cement
According to a CCI notice, the proposed transaction is a two-stage acquisition process, initiated through two share purchase agreements (SPAs) on October 22, 2024, will see Ambuja Cements initially acquiring a 46.80 per cent stake in Orient Cement.
