File photo: Noel Tata Bahram Vakil MUMBAI: Noel Tata has selected close friend and AZB & Partners co-founder Bahram Vakil to succeed him as chairman of Trent, the Tata Group‘s fashion and retail flagship established by his mother, Simone Tata. Vakil will take over as chairman of Trent on Nov 12, a day after Noel…
MUMBAI: The US central bank’s decision to keep interest rates unchanged late on Wednesday, combined with some slowdown in the intensity of selling by foreign funds in recent days, boosted investor sentiment on Dalal Street on Thursday. As a result, sensex rallied 905 points or 1.2% to close at 74,151 points while on NSE, Nifty…
MUMBAI: Noel Tata, chairman of Tata Trusts, the controlling shareholder of Tata Sons, has called for greater scrutiny of large investments by the holding company, requiring management to present detailed business cases setting out the rationale, expected financial returns and risks of capital commitments before directors sign off on them, said people familiar with the…
File photo: Employees Provident Fund Organisation- EPFO NEW DELHI: Five years after govt allowed the Employees Provident Fund Organisation (EPFO) to invest in alternate investment funds (AIFs), the retirement savings body is now working to come up with guidelines to enable its investments in these high-growth asset classes and startups.A proposal to allocate up to…
File photo: HUL hits 14-quarter sales growth high as price hikes test India’s consumption recovery BENGALURU: Consumer goods major Hindustan Unilever on Wednesday reported a 3.8% increase in consolidated net profit to Rs 2,796 crore in the Sept quarter, while revenue rose 14.4% to Rs 18,386 crore, indicating strong growth despite cost pressure.Underlying sales growth…
File photo: The TVS Motor logo on a motorbike inside a TVS Motor repair shop, in New Delhi CHENNAI: TVS Motor Company, a leading two and three-wheeler maker, will demerge its consumer-finance-related investments into a separate listed holding company, marking a significant shift in the TVS Venu group’s strategy, as a financial services business built…
MUMBAI: Sebi chairman Tuhin Kanta Pandey on Wednesday said the regulator will review compliance requirements for FPIs and issue a consultation paper to seek views on aligning Indian norms with global standards, while retaining safeguards for investor protection and market integrity.Acknowledging that some compliance requirements in India remain more onerous than those in other major…
File photo: Adani said to weigh deal for €3 billion energy storage firm VTTI Billionaire Gautam Adani, India’s richest person, is exploring a potential acquisition of Dutch energy storage group VTTI as supply disruptions make the facilities more valuable for energy trading, people familiar with the matter said.Adani Group, the tycoon’s power-to-ports conglomerate, is among…
File photo: India, Mexico launch preferential trade agreement talks to expand trade, investment NEW DELHI: India and Mexico have signed the terms of reference marking the formal commencement of negotiations for a preferential trade agreement.“The negotiations will focus on identifying mutually beneficial opportunities to expand trade, facilitate investment and strengthen supply chain linkages. Leveraging the…
3 trading firms agree to pay Trump’s Truth Social for faster access US President Donald Trump’s paid social media service, Truth API, has found customers, with Bloomberg and two high-frequency trading firms paying for faster access to his posts. The service costs financial institutions up to $100,000 a month.Two sources with direct knowledge of the…
