Business Today

Chairman & Editor-in-Chief: Aroon Purie Vice Chairperson: Kalli Purie Group Chief Executive Officer: Dinesh Bhatia Executive Director: Rahul Kanwal Chief Revenue Officer: Alok Nair Editor: Sourav Majumdar Group Creative Editor: Nilanjan Das Group Pho

Rich Indians are on a spending spree. What began last year as revenge spending—as the pandemic gradually came under control and lockdowns were lifted—has now turned into a strong trend with Indians splurging on sprawling residences, lavish holidays,

AFTER SUFFERING FROM subdued demand and a steep rise in commodity prices for over a year, fast-moving consumer goods makers are gearing up for bumper sales during the festive season in October. From Hindustan Unilever and ITC to Nestle, Parle Product

At a time when retail participation in the market is increasing amidst an influx of young and first-time investors, the Securities and Exchange Board of India (Sebi), the capital markets regulator, is mulling enhanced disclosures for investors in the

LAKH CRORE THE CAPEX (CAPITAL EXPENDITURE) LEVEL TARGETED BY THE GOVERNMENT IN THE JULY-SEPTEMBER QUARTER OF 2022; THIS IS 60 PER CENT OF THE ANNUAL TARGET OF ₹7.5 LAKH CRORE IN FY23 ■

Users in India can get the recently-launched iPhone 14 delivered at their doorsteps in just minutes on quick-commerce platform Blinkit. In a tweet, Albinder Dhindsa, Co-founder and CEO of the Zomato-owned company, said it has partnered with Apple res

WITH THE WORLD looking at a resilient supply chain and seriously working towards the China-Plus-One strategy, India’s most prominent business houses, too, are eyeing this opportunity to manufacture iPhones in India. The Tata group has been in talks w

The writing is on the wall. Amid simultaneous rate hikes by central banks around the world, the World Bank has warned of a global recession next year. World Bank Group President David Malpass said global growth is slowing sharply, with further slowdo

The IIT Madras-incubated imaging satellite operator GalaxEye has inked a memorandum of understanding with California-based satellite software provider Antaris to develop the world’s first satellite containing both Synthetic Aperture Radar (SAR) and o

THE FIGURE CROSSED BY INDIA’S NET DIRECT TAX COLLECTIONS IN FY23 TILL SEPTEMBER 17, WHICH IS 23.33 PER CENT HIGHER THAN THE CORRESPONDING PERIOD LAST YEAR ■

SEVERAL-DRUGSARE expected to get cheaper after the recent update in the National List of Essential Medicines (NLEM) 2022. The Union health ministry added at least 34 drugs to the NLEM 2022 and dropped 26 from the previous list. The drugs in the NLEM

ON SEPTEMBER 14, State Bank of India (SBI) crossed ₹5 lakh crore in market capitalisation to become the third lender to touch the landmark after HDFC Bank and ICICI Bank. Shares of the bank have gained 25 per cent to ₹574.1 on a year-to-date basis ti

Mahindra Susten joins the list of firms in the renewable energy business to raise capital. A part of the $19-billion eponymous group, it has sold a 30 per cent stake to Ontario Teachers’ Pension Plan Board for $300 million. The game for renewables ho

Sectors like e-commerce, retail, manufacturing, BFSI and IT added 233,000 new formal contract staffers in July 2021-June 2022, as per a report by the Indian Staffing Federation. The demand has been higher after the third Covid-19 wave, with the June

GAUTAM ADANI’S ASTRONOMICAL rise continues. With the largest cement sector deal with ACC and Ambuja closed, he is the first Asian to become the second-richest person on the planet. Adani, with a net worth of $150 billion (as of September 21, 2022), i

Yoga guru Baba Ramdev-backed Patanjali group on September 16 announced that it will launch four new IPOs—Patanjali Ayurved, Patanjali Wellness, Patanjali Medicine and Patanjali Lifestyle—in the next five years. At present, only Patanjali Foods is lis

The world of tennis is a lot poorer after Roger Federer, 41, bid adieu to the game. If the fans are inconsolable, brands are also staring at a void as he has been the face of names like Rolex, Nike and Mercedes-Benz, to name a few. In 2018, Uniqlo ha

Actor Ajay Devgn is expanding his NY Cinemas’ footprint in Gujarat with a new four-screen multiplex in Ahmedabad. This comes in the backdrop of multiplex players realising the potential of smaller cities, especially after Hindi-dubbed versions of sou

Sebi chief Madhabi Puri Buch wants the markets regulator to be “developmental and facilitative” in its approach. She has tasked select Sebi staffers to engage directly with market participants to get their views to formulate better policies for the m

AFTER MONTHS OF speculation over BPCL’s disinvestment, Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, has said that the proposal is off the table, as the country’s second-largest oil refining and fuel retailing firm had received on

AFTER YEARS OF deliberation, the Vedanta Group has chosen Gujarat over Maharashtra for its semiconductor plant, to be developed in a joint venture with Taiwan’s Foxconn. However, in this battle of the states to host Vedanta, Chairman Anil Agarwal has

SOTIRIO BULGARI, the Founder, opens his first store in Rome THE BVLGARI STORE in Via Dei Condotti 10 opens. Today a symbol of the company’s heritage and temple of the brand, it is the reference point for the most important Bvlgari stores around the w

Mohanjeet Grewal travels to the US for a Master’s in Political Science at the University of California, Los Angeles, followed by a PhD at Berkeley. She also has a stint as a journalist Launches her first store in Paris called “La Malle de l’Inde” aft

Uber India is the local arm of the global ride-hailing giant What was the problem that you were grappling with? The onslaught of the pandemic and the strict restrictions that followed were very hard to grapple with. As a business that serves cities a