Invest in India News

  • Essar Steel shareholder seeks rejection of ArcelorMittal bid for co

    New Delhi, An Essar Steel's majority shareholder Tuesday moved NCLAT seeking rejection of ArcelorMittal's Rs 42,000 crore bid of the bankrupt company, alleging that its promoter Lakshmi Mittal hid his association with loan defaulting firms run by his brothers, that made his firm ineligible to participate in insolvency proceedings.


  • Vernacular gaming platform Bakbuck raises funds from Nazara

    CHENNAI: Mumbai-based gaming tech enterprise Nazara Technologies has invested an undisclosed amount in Bakbuck, a vernacular social contesting platform operated by Khichadi Technologies. Bakbuck's tech platform helps transform popular traditional games like Antakshari and others into online contests that users can play anytime, with anyone. Currently available in Hindi, Bakbuck has plans to expand to 10 more Indian languages soon.


  • IndiGo prepares for another 'large' Airbus order

    NEW DELHI: IndiGo is in talks with Airbus SE for another large plane order in a sign Asia’s biggest budget carrier has no intention of letting up on a blistering pace of expansion.


  • McDonald's, Vikram Bakshi working on out-of-court settlement

    Estranged partners McDonald's and Vikram Bakshi Monday told the NCLAT that they are working towards an out-of-court settlement to end their over 5-year-old dispute.


  • Can't ensure cheaper oil sales to India: US commerce secretary

    NEW DELHI: The US government will not ensure sale of its oil to India at cheaper rates as the commodity is controlled by private companies, US commerce secretary Wilbur Ross said on Monday.


    Ross is in India to participate in a trade forum.


  • US commerce secretary Ross to raise India's ecommerce rules in talks

    NEW DELHI: US commerce secretary Wilbur Ross said on Monday he plans to discuss India’s new e-commerce rules that could have an impact on operations of firms such as Amazon and Walmart with his Indian counterpart on Monday.


  • UDS acquires majority stake in Matrix Business Services

    Chennai: Facility management firm UDS has acquired 75% majority stake in Matrix Business Services, a business assurance and background verification services firm for an undisclosed sum. The transaction will see Motilal Oswal and New Vernon PE backed UDS acquire 19.77% stake owned by Kotak Mahindra Investments and 2.67% of Mahindra & Mahindra Contech’s share, and the balance 52.56% from other non-executive shareholders of Matrix. UDS said it holds a long-term goal of buying out the entire stake in the company.

  • Intellect Design reports 31% YoY rev gro

    Fintech enterprise Intellect Design Arena has reported revenue at Rs 397 crore for the quarter ended March, a 31% growth year-on-year from the same quarter last year. Sequentially, revenue grew marginally from the December quarter, when Intellect posted Rs 378 crore of revenue. For the fourth quarter of 2019, Intellect recorded a 66% jump in net profit at Rs 43 crore, as against Rs 26 crore on the back of robust digital deal wins this quarter.

  • Jan-Mar gold biz shines on strong Rs , lower prices

    A strengthening rupee along with a drop in gold prices boosted demand for the precious metal in the January-March quarter — traditionally a weak period — by 5% year-on-year to 159 tonnes, according to data from the World Gold Council. The council has also given a 2019 guidance for demand growth to 800-850 tonnes — 5-10% higher — indicating better fortunes for the trade. “The strengthening of the rupee and the fall in local gold prices towards the later part of the quarter triggered a rise in India’s gold demand by 5%.

  • Blue Star net profit jumps over twofold to Rs 79.84 cr in March quarter

    Air conditioner maker Blue Star Ltd Thursday reported over twofold jump in its consolidated net profit to Rs 79.84 crore for the fourth quarter ended on March 2019, driven by its electro-mechanical projects business.

    The company had a net profit of Rs 31.71 crore in the January-March quarter a year ago, Blue Star said in a BSE filing.

  • Water Storage Level of 91 Major Reservoirs of the Country Goes Down by One Percent

    The water storage available in 91 major reservoirs of the country for the week ending on May 02, 2019 was 40.592 BCM, which is 25% of total storage capacity of these reservoirs. This percentage was at 26 for the week ending on April 25, 2019. The level of water storage in the week ending on May 02, 2019 was 115% of the storage of corresponding period of last year and 104% of storage of average of last ten years.

  • Government and IIT-Delhi to set up a Centre of Excellence for Waste to Wealth Technologies

    To commemorate the 150th birth anniversary of Mahatma Gandhi, the Office of the Principal Scientific Adviser (PSA) to the Government of India and Indian Institute of Technology Delhi (IIT Delhi) have come together to bring the best of science and technology to implement waste management in India.

  • Indians prefer budget travel, domestic destinations this summer: Survey

    India is beating global destinations with more than half of country's travellers looking to go domestic this year, and that too on a tight budget, a new survey has revealed.


  • Iraq continues to be India's top oil supplier, imports from US rises 4-folds

    Iraq has for the second year in a row become India's top crude oil supplier, meeting more than a fifth of the country's oil needs in 2018-19 fiscal year.


  • GST Revenue collection for April, 2019 recorded highest collection since GST implementation

    The total gross GST revenue collected in the month of April, 2019 is Rs 1,13,865 crore of which CGST is Rs 21,163 crore, SGST is Rs 28,801 crore, IGST is Rs 54,733 crore (including  Rs 23,289 crore collected on imports) and Cess is Rs 9,168 crore (including Rs 1,053 crore collected on imports