Macrotech Developers filed an IPR suit in the Bombay HC to prevent House of Abhinandan Lodha from using the 'Lodha' trademark in real estate marketing. Macrotech claims it causes confusion and financial loss. Abhinandan Lodha asserts the success and legality of his brand, with a hearing scheduled for Jan 27.
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Reliance Industries has inked a significant deal with Russia's Rosneft, securing up to 500,000 barrels of crude oil daily for the next decade. This $12-13 billion annual agreement, confirmed by Reliance, makes Russia India's top crude supplier. The deal, encompassing various Russian crude grades and fuel oil, involves around half of Rosneft's seaborne oil exports.
Tata Consultancy Services (TCS) reported a 12% increase in net profit for the December quarter, reaching Rs 12,380 crore. Revenue for Q3FY25 grew by 5.6% to Rs 63,973 crore.
IndusInd Bank disclosed that an external review quantified the impact of discrepancies in its derivatives portfolio, resulting in a Rs 1,979 crore hit to its net worth as of June 2024. This translates to a 2.27% reduction by December 2024. Following initial reports of derivative losses, the bank's stock experienced significant volatility, although it rallied nearly 7% on Tuesday.
India's micro finance institutions (MFIs) have seen a surge of over 2,176 per cent in growth from Rs 17,264 crore in March 2012 to Rs 3.93 lakh crore by November 2024. Challenges such as fundraising and portfolio quality were discussed in a DFS meeting, with suggestions for credit guarantees and special funds.
US President-elect Donald Trump’s second term is expected to temporarily impact the Indian rupee. Historical trends suggest rupee has performed better under Republican administrations, with current volatility predicted to be short-lived. Despite a recent 3% dip, the rupee remains stable compared to other currencies.
RBI has injected over Rs 5 lakh crore into the banking system since mid-Jan to ensure surplus liquidity and support its rate cut's transmission to borrowers. Despite this, corporate borrowing costs remain unchanged due to firm MCLR rates and year-end demand for funds.
Commerce and industry minister Piyush Goyal states that India's free trade agreements are now finalized after extensive consultations with all stakeholders, offering equitable terms. Highlighting the EFTA pact with a $100 billion FDI commitment, he contrasts current deals with past practices, emphasizing national interests and growth in exports.
Eli Lilly plans to turn India into a growth market by addressing its diabetes and obesity challenges with its new treatment, Mounjaro. CEO David Ricks is optimistic about India's growth potential and highlights the transformative power of innovative medicines alongside generics in managing public health.
US industrial production fared much better than expected last month, the Federal Reserve said Friday, rising sharply as aircraft manufacturing rebounded after the end of a strike at Boeing. The Fed noted that "the resolution of a work stoppage at a major aircraft manufacturer" helped propel gains in the output of aircraft and parts, a reference to a recent strike at US aviation giant Boeing.
Entities not needing GST registration but required to make tax payments can now obtain a Temporary Identification Number (TIN). This amendment, by the Central Board of Indirect Taxes and Customs, aids in smooth tax payments and reduces compliance burden. GST registration is typically mandated for businesses with specific annual turnovers in manufacturing and services sectors.