Corporate News
Anant Ambani Joins Reliance Industries Board as Executive Director
As per the filing, "The Board of Directors of the company, in today's meeting, on the recommendation of human resources, nomination, and remuneration committee, considered and appointed Anant M Ambani (DIN: 07945702), being a non-executive director of the company, as whole-time director by designation as executive director of the company, for five years from May 1, 2025, with the concurrence of the members of the company."
Maruti Suzuki's Q4 Profit Declines 4.3%; Declares Record ₹135 Dividend Per Share
The automobile manufacturer, while making its report to the stock exchange, noted that its expenditure as a whole increased by 8.55% year-over-year (YoY) at Rs 37,585.5 crore for the March quarter.
Zomato Refutes Claims of Food Delivery CEO Rakesh Ranjan's Resignation Amid Leadership Reshuffle
The clarification was made after a media report indicated that Ranjan was resigning amidst slowing growth and rising competition, especially from competitors such as Swiggy. The report further stated that Zomato co-founder and CEO Deepinder Goyal was set to hold charge of the food delivery business temporarily until a replacement was identified.
Nestlé India Reports 5% Dip in Q4 Profit Amid Rising Input Costs and 8.6% Decline in Exports
The firm was also greatly affected by the rising prices of major commodities like coffee, cocoa, and milk, which hit its overall profitability in the quarter, as pointed out in its stock exchange filing.
Wipro Reports 6.4% Rise in Q4 Net Profit, Reaches ₹3,569.6 Crore
The organization posted gross revenues of ₹22,500 crore (about $2,634.2 million) during January–March, a modest growth of 0.8% over the previous quarter and an increase of 1.3% year on year.
TCS Q4 Profit Slips Nearly 2%; Board Declares ₹30 Final Dividend
The tech behemoth had made a profit of ₹12,502 crore during the same period last year. On a sequential level, the net profit fell 1.3%, according to the company's filing with the stock exchanges.
Vodafone Idea Shares Surge 10%, Hit Upper Circuit Limit
The share price rose to Rs 7.49 on the BSE, its upper circuit limit, while on the NSE, it hit Rs 7.48, the highest trading limit allowed for the day.
Renault Group to Acquire Nissan’s 51% Stake in India JV
The plant located in Chennai and with the capacity to produce 480,000 units a year produces models for both Nissan and Renault brands. Renault will continue to produce Nissan vehicles, including the Nissan Magnite, in the plant. In spite of the change, Nissan will still have its presence in India, and the two firms will still have their shared operation in the Renault Nissan Technology & Business Center India (RNTBCI), where Nissan will still hold a 49% stake.
IndiGo Slapped with ₹944 Crore Tax Penalty, Calls Order ‘Erroneous and Frivolous’
According to IndiGo, the penalty was levied by the Assessment Unit of the Income Tax Department and an extra fine of ₹2.84 crore was charged by the Chennai Joint Commissioner. The problem lies in the rejection of input tax credit on the grounds of discrepancy in financial statements between fiscal years 2018 to 2020.
Government to Boost Stake in Vodafone Idea to 49% with ₹37,000 Crore Investment
The government currently owns 22.6% in the financially troubled telecom firm, which makes it the largest individual shareholder.
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