Biocon Q1 net profit declines 26% to Rs 167.8 crore

Shares of Biocon Ltd were trading at Rs 418.85 per scrip on BSE, down 2.66 per cent from its previous close. Biotechnology major Biocon has reported a 26.30 per cent…

Forensic audit flags 2012 stake sale of IL&FS arm to Singapore-based firm

The audit report, submitted to a consortium of lenders led by Punjab National Bank in June 2020, has found that SEPCO was one of the contractors of ITPCL and it…

‘General Atlantic, Sequoia Capital weigh taking over TikTok from parent ByteDance’

As per a Financial Times report, the two investment firms are in discussions with the US and other regulators regarding the takeover. With many jurisdictions including the US and India…

Express Group acquires insurance web aggregator MyInsuranceClub

An IRDAI-licensed insurance web aggregator, MIC has been an early entrant into the insurance comparison business in India. The Indian Express Group announced Thursday its entry into insurance web aggregation…

Flipkart acquires Walmart India, to launch Flipkart Wholesale for B2B segment in August

Flipkart Wholesale is a new digital marketplace focusing on addressing the business-to-business (B2B) segment in India. Flipkart on Thursday announced the acquisition of Walmart India for an undisclosed amount, and…

Mukesh Ambani edges past Warren Buffett, becomes world’s 5th richest person

With an estimated wealth of $75 billion, Ambani is only next to Facebook co-founder and CEO Mark Zuckerberg, whose wealth is pegged at $89 billion. Riding high on foreign investors…

Tesla’s spent a year terrifying, electrifying Wall Street

One year ago this week, shares plunged 14% after Tesla posted another quarterly loss, this one for $408 million, wiping out about $6 billion of the company’s worth. Tesla’s losses…

Bajaj Auto Q1 profit plunges 61% to Rs 395.51 crore

Bajaj Auto said it sold 4,43,103 units during the first quarter against 12,47,174 units in the year-ago period. Bajaj Auto on Wednesday posted a 60.92 per cent decline in its…

GSK-CH merger helps HUL profits rise 7% despite Covid

HUL said total income increased 4.9 per cent to Rs 10,716 crore during the June quarter as against Rs 10,261 previously. Notwithstanding the disruption in the market and operations due…

Bajaj Finance Q1 net profit drops 19% to Rs 962 crore on higher provisioning

Bajaj Finance said the COVID-19 pandemic and the consequent lockdown has considerably impacted the group’s business operations for the quarter ended June 2020. Bajaj Finance on Tuesday reported a 19…