HYDERABAD: California-based AI-powered SaaS solutions provider Evergent has opened its global value centre in Hyderabad.The company, which has already onboarded over 600 engineering and AI professionals in Hyderabad, plans to scale this up to over 1,000 employees by 2025 end.Inaugurating the new GVC, IT & industries minister Duddilla Sridhar Babu said Telangana is ready to…
WestBridge Capital on Tuesday sold a 12.4 per cent stake in Aptus Value Housing Finance, amounting to Rs 1,906 crore, via an open market transaction.The private equity firm, one of the promoters of Aptus Value Housing Finance, executed the sale through its investment arm, WestBridge Crossover Fund LLC. According to bulk deal data on the…
South Korean auto major Hyundai Motor Company has fully exited Ola Electric Mobility, selling its entire 2.47% stake for Rs 552 crore through an open market transaction on Tuesday.As per bulk deal data on the National Stock Exchange (NSE), Hyundai sold over 10.88 crore shares of Bengaluru-based Ola Electric at an average price of Rs…
Swiss brokerage UBS has revised its forecast for India’s FY26 GDP growth to 6.4% from the earlier 6%, citing resilient economic momentum despite ongoing global trade tensions.This revision comes after official data last week showed India’s economy grew by 7.4% in the March quarter, pulling the full-year 2024-25 GDP growth down to 6.5%, compared with…
Victoria’s Secret is postponing the release of its quarterly earnings after a security breach disrupted corporate operations and forced the popular lingerie brand to take its US shopping website offline for several days last week.In an update on Tuesday, the Ohio-based retailer said it first detected a “security incident involving its information technology systems” on…
Six companies, including HDB Financial Services—a subsidiary of HDFC Bank—and Vikram Solar, have received approval from the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings (IPOs), according to an update from the markets regulator on Tuesday.The other companies that secured Sebi’s nod are A-One Steels India, Shanti Gold International,…
BENGALURU: Aakash Educational Services Ltd (AESL) has filed an application before the National Company Law Tribunal (NCLT), Bengaluru, seeking to dismiss a petition filed by Byju’s and calling for the impleadment of consultancy firm Ernst & Young (EY) and its partner Ajay Shah. AESL has alleged a conflict of interest, citing EY’s past advisory roles…
Moody’s Ratings on Tuesday said that India’s strong domestic economic environment will continue to support economic growth, helping banks maintain healthy asset quality and keeping systemwide nonperforming loan (NPL) levels between 2–3 per cent over the next 12 months.In a report focused on the Indian banking sector, Moody’s stated that even amid heightened global economic…
NEW DELHI: In a first for Indian Railways, a dedicated maintenance depot for Vande Bharat Express trains is being built at Bhagat Ki Kothi in Rajasthan’s Jodhpur Railway Division, a senior railway official confirmed on Tuesday. The facility is the first of its kind in the country, with four such depots planned across India.Speaking about…
The United States economy is projected to slow to 1.6% in 2025, down from 2.8% in 2024, largely due to the impact of President Donald Trump’s aggressive tariff policies that have disrupted global trade, according to the Organisation for Economic Co-operation and Development (OECD).In its latest global outlook released Tuesday, the Paris-based OECD warned that…