Business

[ad_1] BENGALURU: Craft beer maker Bira 91 is experiencing increased unrest among both current and former employees, who have cited issues such as pending salaries, unreimbursed allowances, and unresolved dues.These concerns linger months after the company began a restructuring exercise that was never officially labelled a layoff.A former sales employee reported, "I was told to serve a two-month notice after resigning in Dec, but in Jan, it was suddenly cut short by a month. They promised to clear my dues, but I've been waiting 90 days now. The latest update says it may come by May 31."Multiple employees informed TOI that salary delays began in November 2024, with reimbursements for travel and daily expenses halted around the same period. [ad_2] Source link

[ad_1] DHL Express, the logistics arm of Germany’s Deutsche Post, will temporarily suspend global business-to-consumer (B2C) shipments exceeding $800 to recipients in the United States starting April 21, citing recent changes in US customs regulations, Reuters reported.According to a notice posted on DHL’s website — metadata of which indicated it was compiled on Saturday — the move comes in response to updated customs clearance rules that have significantly tightened the processing of higher-value packages. Under the revised regulations, all shipments valued over $800 now require formal entry processing. The previous threshold stood at $2,500 until it was reduced on April 5.Reuters noted that while business-to-business (B2B) shipments will continue, they may experience delays due to the enhanced clearance procedures. Meanwhile, shipments valued under $800 — whether B2B or B2C — remain unaffected by the new rule.DHL described the move as […]

[ad_1] State-owned engineering major Bharat Heavy Electricals Limited (BHEL) posted a 19% year-on-year increase in revenue, reaching Rs 27,350 crore (provisional and unaudited) for the financial year 2024–25, the company announced on Sunday.Marking a standout year, BHEL also recorded its highest-ever annual order inflow of Rs 92,534 crore. With this, the company’s total order book surged to Rs 1,95,922 crore by the end of the fiscal.According to the statement, Bharat Heavy Electricals Ltd (BHEL) registered a revenue of Rs 27,350 crore (provisional and unaudited) for FY 2024–25, marking a robust growth of around 19 per cent over the previous year.The company stated that in the power sector, BHEL maintained its leadership by winning orders worth Rs 81,349 crore.The industrial segment recorded fresh orders worth Rs 11,185 crore, reflecting the company's diversified presence across sectors such as transportation, defence, process industries, […]

[ad_1] NEW DELHI: Indian toy exporters are looking to tap into a "golden opportunity" created by the US imposing high tariffs on Chinese goods, as more American buyers search for alternative suppliers to reduce their dependence on China."The US is a big market for toys and we will be benefited if China is subjected to high tariffs and India is on a low tariff," the Toy Association of India President Ajay Aggarwal's told news agency PTI.At present, roughly 20 firms are engaged in large-scale toy exports to the American market he stated. "We are getting more enquiries from US-based toy buyers in the last month. Some Indian export houses have also got in touch with us seeking a list of the manufacturers who can make toy products as per US rules and regulations," Aggarwal continued."They are looking for white labelling […]

[ad_1] Investors are set to closely track a combination of domestic and global cues this week, with corporate quarterly earnings, foreign institutional investor (FII) activity, and potential tariff-related developments from the US expected to steer equity market sentiment, analysts said.According to experts, stock-specific action driven by fourth-quarter and annual results for FY25 will continue to dominate, while broader market moves will hinge on FII trading patterns, movement in global crude oil prices, rupee-dollar fluctuations, and cues from international markets.“This week, all eyes will be on the earnings reports of companies like HCL Technologies, Axis Bank, Hindustan Unilever, and Maruti. Globally, any updates related to tariffs and their potential impact on world markets will remain in focus,” Ajit Mishra, SVP – Research, Religare Broking Ltd told PTI.Infosys, HDFC, ICICI results to influence sentimentThe market will also react to quarterly results already […]

[ad_1] The combined market capitalisation of India’s ten most valued companies soared by Rs 3,84,004.73 crore last week, driven by a strong rebound in equities, with HDFC Bank and Bharti Airtel emerging as the top gainers.The BSE benchmark Sensex rallied 3,395.94 points or 4.51 per cent, while the NSE Nifty surged 1,023.1 points or 4.48 per cent during the holiday-shortened week, reflecting a broad-based recovery in investor sentiment.According to Ajit Mishra, SVP – Research at Religare Broking Ltd, the sharp rally was underpinned by optimism around the deferral of tariff hikes and exemptions on select products, which fuelled hopes of possible trade negotiations.“Markets responded positively to favourable developments such as a forecast for a normal monsoon, easing retail inflation raising hopes of rate cuts, and the absence of any major global shocks,” Mishra noted.HDFC Bank led the gainers, adding Rs […]

[ad_1] Foreign Portfolio Investors (FPIs) made a strong comeback to Indian equities last week, pumping in nearly Rs 8,500 crore amid signs of renewed confidence driven by India's economic resilience and relative immunity to global trade shocks.During the holiday-shortened trading week ended April 18, FPIs made net investments of Rs 8,472 crore in the equity markets, according to data from depositories. This included a withdrawal of Rs 2,352 crore on April 15, followed by a robust inflow of Rs 10,824 crore over the next two sessions, news agency PTI reported.Trading activity last week was limited to just three sessions — April 15 to 17 — as markets were shut on Monday and Friday for Ambedkar Jayanti and Good Friday, respectively.Sentiment shift amid global headwindsDespite heavy outflows earlier this month, the latest trend suggests a possible turnaround in FPI sentiment. However, […]

[ad_1] Markets regulator Sebi has found “no manufacturing activity” at Gensol Engineering’s electric vehicle (EV) facility in Pune, with only 2–3 labourers present during a site visit by a National Stock Exchange (NSE) official. The findings are part of Sebi’s interim order dated April 15, issued in response to a complaint from June 2024 alleging share price manipulation and fund misappropriation by the company.In its order, the Securities and Exchange Board of India (Sebi) pointed to discrepancies and misleading disclosures made by Gensol Engineering, promoted by brothers Anmol Singh Jaggi and Puneet Singh Jaggi, a news agency PTI reported.No activity at EV plant despite grand announcementsAn investigation by the NSE revealed that Gensol’s EV subsidiary, Gensol Electric Vehicle Private Ltd, located in Chakan, Pune, had no visible manufacturing activity. During the April 9 site inspection, the NSE official noted that […]

[ad_1] Representative image (Picture credit: AP) Commercial plane prices are set to rise as aviation giants are facing added pressure amid US President Donald Trump's tariff push against global trade.The cost of planes has already soared by about 30 per cent since 2018, largely due to post-pandemic supply chain issues and rising input costs. Additionally, materials like titanium, energy and essential components have become significantly more expensive.The situation has been further aggravated by geopolitical factors, including the exclusion of Russian titanium suppliers from the US market."Anything titanium... especially since all that Russian capacity has been cut off from the US and, to a lesser extent, from Europe” has inflated at a particularly high rate," said Richard Aboulafia, managing director at AeroDynamic Advisory.Aboulafia estimates that material and equipment costs have climbed by about 40 per cent since 2021. He also pointed […]

[ad_1] MUMBAI: Global coffee giants Starbucks and Tim Hortons have a new competitor in India - Asian rival Kopi Kenangan. The Indonesian brand, valued at over $1 billion, plans to capitalise on the growing cafe culture in the country with pricing lower than its competitors and a menu localised to cater to the Indian palate. "For any retail brand, it would be such a waste if you miss the train in India," Edward Tirtanata, co-founder and group CEO at Kenangan Brands, told TOI. The company is backed by Peak XV Partners and Meta co-founder Eduardo Saverin's B Capital. A huge population, expanding economy, and significant purchasing power in metros like Delhi, Mumbai, and Bengaluru provide enough room for new entrants to have a play in the market despite a growing mix of global and local coffee chains in the country, […]