Reports Financial News

beer (5% alcohol content), making it more affordable relative to spirits/IMFL with alcohol content over 40%, said a Nomura Research report on 8 March. The higher tax burden on spirits can pressure volumes in the price-sensitive popular and below segments and improve the affordability for the prestige & above (P&A) segment, given same alcohol content.P&A contributed 89.4% of United Spirits’s 9MFY26 net sales value.

₹480–540 crore across eight new hotel and resort projects as it expands both owned and asset-light operations.The company will add about 600 rooms to its existing portfolio of 1,000-odd keys, Samir MC, chief executive officer (CEO) of Tamara Leisure Experiences, told Mint.Alongside owned developments, Tamara plans to expand by managing and franchising hotels through an asset-light model that enables pan-India expansion with lower capital investment and risk.This comes at a time when many Indian hotel ownership companies have been moving towards an asset-light or asset-right strategy over the last decade to balance out their portfolios amid strong travel demand.Founded about 15 years ago by billionaire co-founders of Infosys, SD Shibulal and S Gopalakrishnan, Tamara operates nine self-owned and managed properties across its three brands. These include The Tamara, a luxury leisure property which it owns and operates, O by Tamara, which are upscale city hotels, as well as Lilac by Tamara, a mid-scale hotel brand.

PhonePe, the fintech giant backed byWalmart, is preparing for a major initial public offering, aiming for a valuation of up to $10.5 billion (around ₹97,000 crore). This would be lower than the $12 billion valuation at which PhonePe last raised $100 million from private equity investors in 2023.The IPO will be entirely an offer for sale (OFS), with existing investors including WM Digital, Microsoft Global Finance, and Tiger Global planning to sell shares.

Mint on Friday on the sidelines of a press conference to announce a partnership with Salesforce. A supplementary power purchase agreement (SPPA) with Gujarat and other client states should happen “very quickly,” he said, declining to elaborate further.The ultra mega power project in the coastal town has been shut since July 2025 amid disagreements with client states—Gujarat, Rajasthan, Maharashtra, Punjab, and Haryana—over the pass through of the high cost of Indonesian coal.Analysts at brokerage IIFL say a combination of rising power demand ahead of summer and the possibility of higher fuel prices due to the war in West Asia could strengthen Tata Power’s negotiating position this time.

Greaves Cotton, known for engine manufacturing and engineering.“As an auto component company, in some ways, it's easier for us to do that. We are dealing in components; so, there's not a huge difference in the components when it comes between, let's say a CNG or a diesel or a petrol.

IPO-bound Singapore’s Sembcorp Industries Ltd’s Indian renewable energy business and Hexa Climate Solutions are vying to acquire the entire India renewable business of Italy’s Enel Group in a deal having an equity and enterprise value of around $100 million and $300 million, respectively, according to two people aware of the development. Sembcorp is present in India throughSembcorp India Private Limited and Sembcorp Green Infra Ltd (SGIL) along with other subsidiaries., while Hexa is backed by I Squared Capital.The HSBC-run sale process follows a deal signed last year—which later fell through—under which Waaree Energies Ltd had agreed to buy 100% of Enel Green Power India Pvt Ltd (EGP India) from its parent Enel Green Power Development S.R.L.

crisis in West Asia intensifying, there is lacklustre sentiment among both importers and exporters due to higher freight costs and logistical uncertainties. Things are likely to be clear in due course of time," said Vikas Jain, proprietor, Osho Marketing House, a Delhi-based export firm.“Though global wheat prices have increased, it could have been a good opportunity for Indian farmers and traders to earn better returns through exports.

Mint explains how the compensation mechanism could work and why the central bank believes a shared liability framework is needed.RBI has proposed a framework to compensate victims of small-value digital payment fraud, even in cases where the customer may have been partly negligent. The draft guidelines allow partial reimbursement for transactions of up to ₹50,000, with victims potentially receiving up to 85% of the loss or ₹25,000, whichever is lower.

Buffett stepped down as its CEO after 60 years in the role. He announced the decision at the company's annual shareholder meeting in May, citing the physical effects of ageing.Buffett had taken control of Berkshire in 1965, when it was a struggling textile manufacturer. Alongside his partner Charlie Munger, who passed away in 2023, he built it into a sprawling conglomerate with holdings spanning insurance, railroads, energy, utilities, manufacturing, and consumer goods.

This week the focus is on the widening war in West Asia, which matters to us as there are 9-10 million Indian expatriates in the region.It’s now day 7 of Operation Epic Fury, launched jointly by the US and Israel on 28 February. It’s what we were all warned about for years, perhaps even decades – a conflagration in West Asia. As it stood, Iran was at its weakest in decades and Israel perhaps saw it as too good an opportunity to pass up.

₹18,000 crore ($2 billion) in realised and potential equity value over the company’s lifecycle.Even if the company lists closer to $10.5 billion, a steeply marked down valuation at which the IPO is widely expected, the value of that pool could still be around ₹13,000 crore, or about $1.4 billion.Of that, the options that still exist today and can convert into shares in the future, could be worth roughly $500-600 million.While other tech firms also use Esops to retain top talent, PhonePe’s rewards to its employees have seeded at least half a dozen “deca-millionaires”, or very high-net-worth individuals, in its top deck.And thanks to the payments platform's extravagant Esop structure, its top leadership has stuck around from its early Flipkart-acquisition in 2016 to the cusp of its IPO. (Walmart Inc.

Fertilizer is the largest commodity, the global price of which has a direct bearing on subsidy bills. In the case of petroleum, central subsidy is limited to cooking gas and kerosene, and often, state-owned auto-fuel retailers absorb the volatility in global prices by spreading out retail fuel price adjustments.On Friday, the government assured adequate fertilizer availability for the upcoming kharif season starting June.

New Delhi: Facing supply disruption from West Asia, the Indian government has directed all state-run and private-sector refineries in the country to step up production of domestic cooking gas by diverting feedstock away from the manufacturing of non-essential products, including petrochemicals.Using its powers under the Essential Commodities Act, 1955, the ministry has directed all refiners to supply LPG to the three state-owned refiners – Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd, Hindustan Petroleum Corp Ltd – which will in turn supply it only to domestic consumers of cooking gas.The development is significant as India has only about 25 days of LPG stock. Annual demand stands at 33.15 million tonnes, with imports servicing about 75-80% of this.

The central bank is proposing a safety net for one of the world's largest digital payment ecosystems, offering to partially reimburse victims of cyber fraud—even when the victims themselves are at fault.The Reserve Bank of India (RBI) on Friday proposed that it, along with banks, will compensate victims of fraudulent digital banking transactions of up to ₹50,000. The customer will be paid up to 85% of the loss, or up to ₹25,000, whichever is lower.

₹1.19 trillion)market, which is still less than 5% organised,” he said.He also added that Uber’s existing intercity cabs business is growing about 50% year-on-year and operating across around 3,000 routes.Only 19% of India’s intercity bus market was booked online in fiscal 2023, underscoring how under-penetrated the category still is despite the scale of demand, according to a 2023 study by travel advisory firm VIDEC Consultants.The same report estimated the overall intercity bus market at ₹539 billion ($6.7 billion) in fiscal 2023 and projected it to grow to ₹688 billion ($8.6 billion) by fiscal 2026.Within the online segment, the report said MakeMyTrip Group-owned redBus controlled about 75% of the OTA intercity bus market in fiscal 2023, with ixigo-owned AbhiBus trailing behind.When asked why Uber was not using its own capital to build a standalone bus-ticketing business, Singh said the category was still under-penetrated enough for multiple models to coexist.“The best part of the fact that, as you laid out, it’s still under-penetrated means there is such a long journey, and we believe different business models will coexist,” he added.Uber wants to retain and acquire users who prefer buses as an affordable intercity option to Uber's premium cab option.

Could India be returning to Russia for oil supplies? Going by a Bloomberg report, it seems so. Two shipments of Russian crude oil that were originally headed for East Asia have reportedly been redirected towards India and are expected to unload this week, with one already having reached Paradip.

e-Rupee, with total transactions of 120 million valued at ₹28,000 crore since its 2022 launch, central bank data till December showed. While retail CBDC can be used to pay other users, as well as merchants for goods and services, wholesale use cases include interbank settlements and large-value transactions.

West Asia conflict could ease.The benchmark Nifty50 index recovered close to half of its recent losses in the last hour on Thursday, as reports emerged that Iran had reached out to the US for talks to end the war, improving risk appetite. The news coincided with the weekly expiry of Sensex options on Thursday, which also forced the traders to square off their positions in panic.The US and Israel launched joint strikes on Iran on Saturday that killed its supreme leader Ayatollah Ali Khamenei, triggering retaliation and fuelling a wider regional conflict in West Asia, dragging stock markets around the world lower.Over two trading sessions starting Monday, the Nifty50 had fallen 695 points, of which 285 points—about 41%—were recouped on Thursday.

Mint.With BluSmart, Eversource aims to enter consumer mobility, expanding beyond the business-to-business fleet (B2B) model of Lithium Urban Technologies into the business-to-consumer (B2C) ride-hailing market, one of the people cited above said. Both people requested anonymity.Since the plan involves assets under insolvency proceedings, no valuation has been discussed at this point, the other person said.

Mumbai: Umesh Modi Group’s Win-Medicare Pvt Ltd (WMPL), the maker of household brands like Betadine and Movicol, is looking to sell a minority stake in a deal valued between $150 million and $200 million, according to three sources familiar with the matter. The company has appointed EY as its advisor to lead the search for potential buyers, they said.“About $100 million is likely to be secondary, with the parent entity expected to offload a minority stake, while the remaining component would be primary but subject to the company’s expansion plans,” two of the people cited above said on the condition of anonymity.The third person said, “The deal was launched about two months ago and several private equity firms have been tapped as part of the process.

A new wave of affluent buyers in their twenties and early thirties is driving growth in India’s luxury watch market, forcing global brands to reposition for a more aspirational consumer.The shift comes at a time when rising disposable incomes, a swelling base of high-net-worth individuals and easing import duties under India’s trade pact with the European Union are reshaping the premium timepiece landscape. Lower tariffs on Swiss watches are expected to narrow price gaps, intensify competition and accelerate premiumisation in a market that executives say is expanding rapidly.The luxury watch market is poised for strong expansion, with annual growth estimated at 11-12%, supported by the country's rising affluent base and growing wealth among high-net-worth individuals (HNIs), according to an October 2025 report by SOIC Research.The share of luxury and high-end watch sales has jumped from 48% in FY20 to 70% in FY25, indicating that Indian buyers are gravitating toward more exclusive, higher-value brands.