Tata Pension Management erroneously listed Divinion Advisory Services, owned by the family of Tata Sons executive Suprakash Mukhopadhyay, as a Tata group company in August 2022. While the error was corrected in subsequent disclosures, Mukhopadhyay's connection to Divinion, including CSR contributions and solicitation of investments, raises potential conflict of interest concerns under Tata Sons' code of conduct.
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Adani Group is officially withdrawing from a $442 million wind power project in Sri Lanka after the government attempted to renegotiate the agreement for better energy rates.
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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.
Vanke, a major Chinese property developer, reported a substantial $6.8 billion loss in 2024 due to falling sales and shrinking profit margins. The company attributed the loss to overexpansion and high-debt practices. Revenue dropped 26%, and resignations of top executives added to the turmoil. Other developers like Kaisa and Country Garden also faced significant losses amid China's real estate crisis.
Outgoing RBI Governor Shaktikanta Das emphasized inflation control as the central bank's top priority. Das provided insights into the crucial challenges awaiting the central bank whilst expressing optimism about his successor's capabilities, as he reviewed his six-year leadership period.
Zomato's third-quarter profit dropped by 57% to Rs 590 million due to increased spending on its quick commerce platform, Blinkit. Despite this, overall revenue surged 64% to Rs 54.05 billion. Revenue from the core food delivery business grew by 22%, while Blinkit's revenue more than doubled as Zomato focused on expansion and faced stiff competition.
Analysts predict that reciprocal tariffs starting April 2 may impact equity markets, along with overseas market trends and FII activity. Investors will also focus on global developments, PMI data, rupee-dollar trends, and Brent crude prices. Given recent modest FII buying and quarterly earnings reports, potential tariffs could play a vital role in market movements.
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HDFC Bank's deposit base exceeded its advances for the first time following the merger with its parent housing finance company in July 2023. Deposits grew by 15.8% year-on-year, primarily through term deposits, while advances recorded a slower 3% increase, partially due to a decline in corporate loans.
The Centre has introduced the Unified Pension Scheme (UPS) for central government employees with assured payouts and inflation adjustments for those with over 25 years of service. Employees currently under the National Pension System (NPS) have a one-time option to switch to UPS, which starts in April.