India News

Zomato begins liquidation of its Vietnam-based step-down subsidiary

Food delivery major Zomato has initiated the process of liquidation for its Vietnam business, the company said in a regulatory filing on Thursday.

The company added that the step-down subsidiary does not have any active business operation, and its liquidation would not impact the operations of the company.

Large merchants may have to pay reasonable fee on UPI payments: NPCI chief

Large merchants transacting on Unified Payments Interface (UPI) may incur a ‘reasonable’ fee on related-transactions in the next three years, Dilip Asbe, managing director (MD) and chief executive officer (CEO), National Payments Corporation of India (NPCI) said.

“From the long-term perspective, a reasonable charge, not on the small merchants but the larger ones, will come.

IndiGo removes surcharge after 3 months as aviation fuel prices decline

Airfares in the country are set to fall, with IndiGo on Thursday removing the fuel charge in response to the gradual decline in aviation turbine fuel (ATF) prices in the last three months.

India's biggest airline had on October 5 imposed a fuel surcharge of up to Rs 1,000 based on flight distance. "The fuel charge was introduced in October 2023, following a surge in Aviation Turbine Fuel prices. With recent reduction in ATF prices, IndiGo is withdrawing the charge," said IndiGo.

Gold price falls Rs 440 to Rs 63,380, silver declines Rs 2,000 to Rs 76,600

The price of 24-carat gold fell Rs 440 during early trade on Friday, with ten grams of the precious metal selling at Rs 63,380, according to the GoodReturns website. The price of silver declined Rs 2,000 with one kilogram of the precious metal selling at Rs 76,600.

The price of 22-carat gold dipped Rs 400, with the yellow metal selling at Rs 58,100.

EC to start reviewing LS polls preparations, will visit states from Jan 7

The Election Commission (EC) will start reviewing preparedness of states for the Lok Sabha elections with a visit to Andhra Pradesh and Tamil Nadu next week.

The Commission led by Chief Election Commissioner Rajiv Kumar and comprising Election Commissioners Anup Chandra Pandey and Arun Goel will be in Andhra Pradesh and Tamil Nadu between January 7 and 10.

Adani Group to fund Dharavi project via internal accruals, SPV stake sale

The Adani group, which is redeveloping Dharavi slums, plans to finance the entire project via internal accruals and possible sale of equity in the special purpose vehicle (SPV) set up for the project, according to sources.

Earlier this week, the company had appointed three companies, including noted architect Hafeez Contractor, as city planners to present a draft development plan for the Asia's largest slum cluster.

Poonawalla Fincorp's AUM rises 57% to around Rs 21,850 cr in Q3FY24

Poonawalla Fincorp Ltd’s Assets under Management rose 57 per cent Year-on-Year (YoY) to about Rs 21,850 crore in the third quarter ended December 2023 (Q3FY24) on the back of robust disbursements.

Sequentially, its AUM expanded by 8 per cent over in the second quarter ended September 2023 (Q2FY24), according to a filing with the BSE. Its AUM was at Rs 20,215 crore at the end of September 2023.

BJP wants to finish AAP, arrest Kejriwal before LS polls: Jasmine Shah

Coming down heavily at the Bharatiya Janata Party (BJP), Aam Aadmi Party (AAP) leader Jasmine Shah alleged that the only target of the BJP is to "finish" AAP and "arrest" Delhi Chief Minister Arvind Kejriwal before the upcoming Lok Sabha polls.

Speaking to reporters on Thursday, Shah claimed that all the summons served to the Delhi CM by the investigating agency were illegal.

Brigade Enterprises soars 13% on healthy outlook; zooms 60% since November

Shares of Brigade Enterprises (BEL) rallied 13 per cent to hit a new high of Rs 983.65 on the BSE in Thursday’s intra-day trade on a healthy business outlook.

Since November, the stock of the real estate company has zoomed 60 per cent as it had reported a strong operational performance for the September quarter (Q2FY24).

Glenmark cuts diabetes drug cost by 70% with first Indian biosimilar launch

Glenmark Pharmaceuticals on Wednesday launched the first biosimilar of popular anti-diabetic drug Liraglutide in India to lower the cost of therapy by about 70 per cent. The drug, marketed under the brand name Lirafit, has received approval from the Drug Controller General of India (DCGI). It is priced at approximately Rs 100 for a standard daily dose of 1.2 mg. This pricing strategy aims to make the drug accessible to patients with type 2 diabetes mellitus in the country, Glenmark said.