Tech Mahindra

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Will act to reverse store takeovers by Reliance: Future Retail Future Retail Ltd (FRL) accused Reliance Industries Ltd (RIL) of forcefully taking over stores and asserted that it did not hand over any of its retail units to the conglomerate. FRL’s board is committed to taking necessary action to seek value adjustments and reversal of […]
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Tech Mahindra to acquire 100% stake in Allyis India, Green Investments Tech Mahindra Ltd has approved a proposal for the acquisition of a 100% stake in Allyis India and Green Investments. The total consideration for the acquisition is $125 million (~Rs 929 crore). Allyis offers technology consulting and managed services that help organizations reduce costs […]
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Tech Mahindra Q2 Results: Net profit rises 26% YoY to Rs 1,339 crore Tech Mahindra reported a 25.8% year-on-year (YoY) increase in consolidated net profit to Rs 1,338.7 crore for the quarter ended September (Q2 FY22). Net profit fell 1.07% compared to the previous quarter. Its revenue from operations rose 16.1% YoY (or 6.7% QoQ) […]
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Manufacturing PMI rises to 53.7 in September  India’s manufacturing activity expanded for the third straight month in September. The IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) stood at 53.7 in September, compared with 52.3 in August. Companies benefited from strengthening demand conditions amid the easing of Covid-19 restrictions. However, the increase in fuel, raw […]
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Tata Motors to deliver 15 hydrogen-powered buses to Indian Oil Corp Tata Motors has secured an order for 15 hydrogen-based proton exchange membrane (PEM) fuel cell buses from Indian Oil Corporation Limited (IOCL). All 15 buses will be delivered within 144 weeks from the date of signing of the Memorandum of Understanding (MoU). The automaker […]
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Finance Ministry announces relief measures for sectors impacted by Covid-19 Union Finance Minister Nirmala Sitharaman has announced a Rs 6.28 lakh crore stimulus package to boost Covid-affected sectors. An amount of Rs 23,220 crore will be set aside for the expansion of medical infrastructure for one year. Once issuance resumes, five lakh tourist visas will […]
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India’s manufacturing PMI declines to 7-month low of 55.4 in March India’s factory activity grew at its weakest pace in seven months in March, as renewed lockdowns to curtail an increase in Covid-19 cases dampened domestic demand and output. The IHS Markit Purchasing Managers’ Index (PMI) for India’s manufacturing sector declined to 55.4 in March […]

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