Ajay Singh, founder-promoter of SpiceJet, will increase his stake in the airline from 29.1% to 33.5% with a Rs 294 crore investment through Spice Healthcare. The investment, via conversion of warrants into equity shares, is expected to strengthen the airline's financial position and support growth.
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India and New Zealand have restarted discussions for a Free Trade Agreement after a 10-year hiatus. This new move aims to deepen economic ties and address market access issues to achieve balanced outcomes, as bilateral trade surpasses $1 billion.
A Sebi committee has declined a settlement offer from Zee Entertainment, former chairman Subhash Chandra, and former MD Punit Goenka regarding listing norm violations. Instead, Sebi's adjudicating officer must incorporate new findings from the investigation and issue a fresh show cause notice.
India's agricultural sector is projected to achieve record foodgrain production of 164.7 million tonnes in 2025, driven by favourable monsoon. However, challenges remain in pulses and oilseeds self-sufficiency. New schemes, including NMEO-Oilseeds, aim to address import dependency, while technological innovations and government support foster growth.
Rohan Mirchandani, the 42-year-old co-founder of Epigamia, passed away from a sudden cardiac arrest. He established the company in 2013, introducing flavored Greek yogurt to India. Epigamia's leadership and board, including Mirchandani's family, will continue his work. His death is a loss to the entrepreneurial community.
The Mahindra group launches SOAR, a unique returnship program aimed at reintegrating women who took career breaks into mainstream roles. The initiative seeks to address gender disparity by offering permanent roles, mentorship, and training. The move follows industry trends to enhance female labor participation rate and reduce the gender gap.
The Reserve Bank of India has implemented new rules to facilitate the use of the rupee in international trade and investment. These regulations allow overseas branches of authorised banks to open rupee accounts for non-residents, simplifying cross-border transactions. This initiative aims to mitigate exchange rate risks, ease foreign exchange pressure, and enhance India's current account balance.
Infosys raised its revenue forecast for the fourth straight quarter, projecting 4.5-5% growth for the 2024-25 fiscal year. Revenue increases are driven by strong demand in banking and financial services sectors and easing pressures on discretionary spending. However, its stock price fell nearly 6% on the NYSE.
SEBI updates rules for credit rating agencies, switching to 'working days' for compliance deadlines. The new guidelines require press releases within seven working days, adjust timelines for delays in debt servicing, and mandate faster tagging of 'issuer not cooperating' and debt servicing confirmation.
India’s low volume of goods exports to the US offers a buffer against trade tensions due to Trump's tariff moves, with strong services exports and supportive domestic policies enhancing resilience. Economic recovery strategies include increased government spending, eased monetary policies, moderated food inflation, and robust services exports driving growth, says Morgan Stanley.
India's Union Cabinet has approved the 'Protection and Enforcement of Interests in Aircraft Objects Bill, 2024 (Cape Town Convention Bill)', making it easier for aircraft and engine lessors to reclaim their assets from insolvent airlines. The move aims to lower leasing costs and end prolonged legal battles, addressing concerns highlighted by the GoAir incident.