Nazara founder Nitish Mittersain is stepping down as managing director of the gaming company and will become a non-executive director, nearly 27 years after he founded the firm. Mittersain will be designated founder and non-executive director and will cease to be a key managerial person from Tuesday. The company said the move would let … Read more
Stellantis India, Tata Motors Passenger Vehicles Ltd (TMPV) and its subsidiary, Tata Passenger Electric Mobility Ltd (TPEM), on Monday signed a definitive agreement to expand their partnership into advanced vehicle technology and product development. Under the agreement, TMPV will provide Stellantis access to its advanced product technology and vehicle architecture. Stellantis will leverage its product … Read more
GDP records strong growth, but why is Dalal Street tumbling? India’s GDP has surpassed estimates, clocking a 7.8% growth. The World Bank is betting on an even stronger year than it previously expected. Yet, Dalal Street is bleeding.So what’s happening? Why is the stock market crashing when the economy appears to be doing so well?Thursday … Read more
Tata Consultancy Services (TCS), India’s largest software services firm, posted a 15% rise in net profit to ₹13,884 crore in the September quarter from a year ago while revenue rose 11.2% to ₹73,188 crore, largely in line with analyst estimates. The numbers were buoyed by growth returning in a small way, especially in the largest … Read more
Reliance Jio chairman Akash Ambani said Jio Platforms’ planned listing -set to be the biggest ever in India’s history-comes with a responsibility to deliver value to shareholders, including retail investors, as the country’s most-valued company prepares for its first public issue in three decades. Asked about the likely October-end initial public offer (IPO) and potential … Read more
India’s markets regulator is likely to stop using closing auctions to calculate derivatives settlement prices for at least a year, two sources with direct knowledge of the matter said, in a partial reversal of new mechanisms it has introduced for setting the closing prices of key stocks and derivative contracts. The Securities and Exchange Board … Read more
The Reserve Bank of India has approved Anup Bagchi’s appointment for a three-year term starting October 27, 2026, succeeding Sashidhar Jagdishan. Bagchi would be joining from ICICI Prudential Life Insurance where he has been serving as MD & CEO since June 2023. He is an ICICI veteran who had joined the group way back in 1992. … Read more
Tax authorities have taken a benign view on at least four gaming companies going by the first few final orders issued till now. No personal penalties were slapped on company directors and tax demands have been slashed following the Supreme Court (SC) verdict on a bitter feud waged by real money gaming (RMG) and casino … Read more
Sebi chairman Tuhin Kanta Pandey on Saturday said that the market regulator would soon move ahead with its proposed changes to the Closing Auction Session (CAS) mechanism after receiving more than 3,500 comments on its consultation paper.The regulator had invited views on changes to the CAS, market timings and the settlement methodology for derivative contracts. … Read more