InterGlobe Air Transport Limited has been named the exclusive General Sales Agent for Oman Air in India. This partnership will enhance Oman Air's presence in the Indian market, providing extensive sales, service support, and superior travel experiences. InterGlobe already represents multiple international airlines, ensuring seamless connections and exceptional service for passengers traveling between India and Oman.
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Shares of Coffee Day Enterprises surged 20% after the National Company Law Appellate Tribunal (NCLAT) set aside insolvency proceedings against the company. The stock reached its 52-week high on both BSE and NSE. The decision overturns an earlier order by the Bengaluru bench of NCLT.
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.
India experienced a dramatic 99% drop in Foreign Portfolio Investment (FPI) inflows in 2024, predominantly due to robust US economic performance and tightened Indian market conditions. Analysts highlight factors like India's high valuations and economic uncertainties. Despite this, domestic investor presence maintained market stability, while FPIs showed interest in long-term prospects.
Rebel Foods, supported by Temasek and KKR, is entering the quick food delivery sector with its 15-minute service branded as QuickiES. Utilizing its existing cloud kitchens and customer data from its EatSure app, Rebel Foods aims to offer fresh and quality snacks swiftly, intensifying competition in this evolving market.
Retail credit growth in India decelerated in Q2FY25, significantly impacting affordable housing and low-cost two-wheeler loans. However, higher-value loans experienced an uptick. Personal loan originations and credit card usage saw growth, while overall credit demand hit a two-year low with mixed delinquency trends.
India's banking sector is experiencing slow loan growth and margin pressure due to high interest rates. Loan growth is projected to drop significantly, and banks are focusing on retail deposits to strengthen their balance sheets. Despite this, net profits and bad loan ratios show improvement.
TCS reported a 4.5% year-on-year revenue increase in constant currency terms for the Dec quarter, though performance was flat sequentially due to seasonal factors and reduced discretionary spending. Revenue rose to $7.5 billion in dollar terms. Despite a mixed performance across geographies and sectors, TCS's order book grew to $10.2 billion, bolstering confidence in future growth.
Infosys shares fell by nearly 6%, reducing the Murthy family's net worth by around Rs 1,900 crore. Despite strong financial results, including an 11% increase in net profit for the December quarter, the company's market capitalisation decreased.
Catch, an Australian e-commerce platform acquired by Wesfarmers in 2019, will close down, leading to about 200 job losses due to tough competition from Amazon and Temu. The logistics centres will be transferred to Kmart to enhance its customer service and delivery efficiency.
In 2025, HR will be shaped by hybrid work models, mental health focus, DEI advancements, and AI integration. Demand for specialized talent and rising CXO salaries will be notable trends, with green energy and AI-driven sectors leading in compensation. Skill development remains crucial for workforce competitiveness.