Mumbai: Private investors are bringing in forensic auditors early to scan the books of portfolio companies after serial implosions at high-profile startups crushed valuations and wiped out investments. According to investors and auditors, the aim is to detect and fix issues before it becomes too late to put out the fire. Earlier, private equity and … Read more
(Bloomberg) — Emmanuel Macron hasn’t been seen since the president and his wife, Brigitte, were spotted strolling the streets of the French coastal town of Le Touquet in dark sunglasses and leather bomber jackets a few hours before the scale of his defeat in legislative elections became known. That spontaneous sighting — which led some … Read more
ISLAMABAD (AP) — A United Nations-led meeting held in Qatar with the Taliban on increasing engagement with Afghanistan does not translate into a recognition of their government, a U.N. official said Monday. The gathering on Sunday and Monday in Qatar’s capital of Doha with envoys from some two dozen countries was the first time that … Read more
(Bloomberg) — Argentine President Javier Milei is finally making his first visit to Brazil, his nation’s largest trading partner. But instead of meeting President Luiz Inacio Lula da Silva, the libertarian will rally with his leftist counterpart’s biggest rival. Milei decided against attending next Monday’s summit of Mercosur nations in Paraguay, where he would have … Read more
(Bloomberg) — The Wall Street professionals that underwrite blue-chip US corporate bond sales are bracing for a busy summer, instead of the usual slowdown in July and August. Investment-grade corporations have relatively high levels of debt maturing next year that they’re looking to refinance now. Borrowing is comparatively cheap by the standards of the last … Read more
ZEE Entertainment Enterprises Ltd has given Umesh Bansal additional responsibility for the music business while retaining his role as chief business officer of the movie business. Bansal will continue to report to managing director and chief executive Punit Goenka. The move aligns with the company’s resource optimization strategy, aiming to synergize the movies and music … Read more
Patanjali Foods Ltd on Monday said it would acquire the home and personal care business of its group company, Patanjali Ayurved, for ₹1,100 crore. The acquisition will help Patanjali Foods to become an FMCG company. In a statement, Patanjali Foods said its board of directors has approved the “acquisition of the entire non-food business undertaking … Read more
Mumbai: Reliance Capital’s administrator has said that the Hinduja Group-owned IndusInd International Holdings Ltd’s bid to unilaterally seek extension of the deadline to implement its resolution plan for the bankrupt company creates ‘reasonable apprehension’ about its willingness to honour the resolution plan. In a submission before the Mumbai bench of the National Company Law Tribunal … Read more
Maruti Suzuki, India’s largest carmaker, posted a robust 12.42 per cent sales growth in June. The automaker sold 1,79,228 units last month, compared to 1,59,418 units in the same period last year, it said in a statement on Monday, July 1. Domestic vehicle sales were up 3.1 per cent at 1,37,160 units in May, as … Read more
Omnichannel beauty and personal care products platform Purplle Group on 1 July, announced that it has raised ₹1,000 crore in a funding round led by an arm of Abu Dhabi Investment Authority (ADIA), along with participation from other marquee investors. Cumulatively, the start-up has now raised more than $500 million, while its pre-money valuation has … Read more
State-run Coal India Ltd (CIL) has reported a near 8% year-on-year increase in coal production for the first quarter of fiscal year 2025 (FY25), reaching 189.3 million tonnes. This is up from 175.5 million tonnes in the same period last year, exceeding its target of 189.2 million tonnes. All seven of CIL’s production arms recorded … Read more
In a testament to India’s booming healthcare sector, private equity giant KKR has secured a controlling stake in Kerala-based multi-specialty hospital chain Baby Memorial Hospital (BMH) for an undisclosed sum. This investment, facilitated through KKR’s Asian Fund IV, aims to bolster BMH’s nationwide expansion and medical infrastructure, the private equity firm said in a statement … Read more