ED issues notice to Xiaomi for forex ‘violations’ to tune of Rs 5,551 cr

The Enforcement Directorate (ED) on Friday said it has issued show-cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, its chief financial officer and director Sameer B Rao, former managing director Manu Kumar Jain and three foreign

Shares of Zomato rise above their IPO price after more than a year

Shares of online food delivery aggregator Zomato rose above their initial public offering price after more than a year. Photograph: Anushree Fadnavis/Reuters The stock hit an intraday high of Rs 76.3 per share before settling at Rs 75.8. The company

Analysts cautiously positive on new age stocks despite improved Q4 metrics

Nykaa, Paytm and others need to do more despite a rise in Q4 metrics, say experts. Harshita Singh reports. Despite a firm improvement in the operational metrics of new-age companies during the January-March quarter (Q4FY23), analysts remain cautiously optimistic about

Infosys grows footprint in the Nordics with new proximity centre in Norway

Bengaluru-based IT major Infosys is growing its footprint in the Nordics by establishing a new proximity centre in Oslo, Norway, as part of its continued expansion plans in the region. Image used for representative purpose only. Photograph: Abhishek Chinnappa/Reuters The

India’s import of discounted Russian crude hits all-time high in May

India’s import of discounted crude oil from the Russian Federation hit an all-time high in May, with state-run refiner IOC becoming the biggest importer of Russian oil, relegating Reliance Industries to the second place, trade and shipping data show. Photograph:

Auto: Only 41% of EVs FAME II scheme target achieved

As the government plans no further extension of the scheme beyond FY24, the task is to achieve the unfinished target of subsidising 914,707 EVs Photograph: Amit Dave/Reuters With only 10 months left before the deadline for the Centre’s flagship electric

RBI opts for pause 2nd time in a row; keeps repo rate unchanged at 6.5%

The Reserve Bank of India on Thursday opted for a pause second time in a row, maintaining key benchmark policy rate at 6.5 per cent as inflation moderates. Photograph: ANI Photo The rate increase cycle was paused in April after

Aditya Birla invests Rs 5,000 cr in jewellery biz, takes on Tata, Reliance

Aditya Birla Group has announced its foray into the branded jewellery space with an investment of around Rs 5,000 crore and will battle it out with Titan’s Tanishq and Reliance Industries- Reliance Jewel. Photograph: Rupak De Chowdhuri/Reuters The business will

ICICI Bank’s board gave sanction to prosecute Chanda Kochhar: CBI tells court

The Central Bureau of Investigation (CBI) on Wednesday told a special court in Mumbai that it received a sanction from the ICICI Bank’s board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a

Dividend by top 10 payers more than doubles in FY23; TCS tops the table

Tata Consultancy Services (TCS), the group’s biggest cash generator, overtook Vedanta to become the highest dividend payer in India in FY23. The IT services major paid Rs 42,090 crore for FY23, up 167.4 per cent from Rs 15,738 crore for