Starting November 12, Vistara will fully merge with Air India. As part of the merger, Singapore Airlines will acquire a 25.1 per cent stake in the newly consolidated Air India.

Global Fintech Summit 2024, Avani Lekhara, Air India & Vistara merger and more

ReNew Energy Global Plc (ReNew) on Monday said it has signed an agreement with Anzen to sell entire stake in its wholly owned subsidiary RSWPL at an enterprise value of USD 176 million.
Under the agreement, ReNew Private will sell 100 per cent shareholding and economic interest in ReNew Sun Waves Pvt Ltd (RSWPL), which houses a 300 MW operating solar asset to Anzen India Energy Yield Plus Trust (Anzen).
In a regulatory filing, ReNew said it "announces the signing of definitive agreement to sell RSWPL to Anzen. The transaction is expected to close post completion of contractual obligations and conditions precedent including receipt of lender approval".
The enterprise value determined under the agreement is USD 176 million, subject to net current assets and other such adjustments as provided in the definitive documents.
Additionally, USD 17 million is expected to be received as an earn-out on account of change in law proceeds pertaining to increase in basic customs duty (BCD), safegu

Under the agreement, ReNew Private will sell 100 per cent shareholding and economic interest in ReNew Sun Waves Pvt Ltd (RSWPL), which houses a 300 MW operating solar asset to Anzen

Parle Biscuits has reported a twofold jump in profit at Rs 1,606.95 crore for FY24 while revenue from operations was up 2 per cent to Rs 14,349.4 crore.
Total revenue was up 5.31 per cent at Rs 15,085.76 crore in FY24 helped by other income, according to financial data accessed through business intelligence platform Tofler.
Parle Biscuits, a subsidiary of Parle Products, had reported a standalone profit of Rs 743.66 crore in FY23 and revenue from sale of products was at Rs 14,068.80 crore.
Incorporated in September 1974, Parle Biscuits is a leading manufacturer of biscuits and confectionery. It owns popular brands such as Parle G.
Parle Biscuits' advertising promotional expenses in FY24 were up 3.23 per cent to Rs 442.81 crore. This was at Rs 428.93 crore a year ago.
Total tax expense of Parle Biscuits was Rs 499.4 crore in FY24. Total expenses were at Rs 12,979.41 crore, down 2.54 per cent year-on-year.
Sharing the scenario and outlook, Parle Biscuits said FY24 was fulfilling an

Parle Biscuits, a subsidiary of Parle Products, had reported a standalone profit of Rs 743.66 crore in FY23 and revenue from sale of products was at Rs 14,068.80 crore

Older phones cannot support the app's evolving features, which is why WhatsApp will discontinue support for certain systems at specific points in their lifecycle

A new Centre of Excellence on Classical and Quantum Communications for 6G has been inaugurated this year at the IITM Research Park in Chennai to spearhead research and development in 6G technologies

President Droupadi Murmu on Monday condoled the demise of veteran filmmaker Shyam Benegal and said his passing away marks the end of a glorious chapter of Indian cinema and television.
Murmu said Benegal started a new kind of cinema and crafted several classics.
"A veritable institution, he groomed many actors and artists. His extraordinary contribution was recognised in the form of numerous awards including Dadasaheb Phalke Award and Padma Bhushan. My condolences to the members of his family and his countless admirers," the President said in a post on X.
Benegal, who heralded a new era in Hindi cinema with the 'parallel movement' in the 1970s and 1980s with classics such as "Ankur", "Mandi" and "Manthan", died on Monday at a hospital in Mumbai after battling chronic kidney disease. He was 90.
"The passing of Shri Shyam Benegal marks the end of a glorious chapter of Indian cinema and television," Murmu said.

Shyam Benegal breathed his last today at 6:38 pm at Wockhardt Hospital, Mumbai Central, where he was undergoing treatment for chronic kidney disease

With Delhi Assembly elections around the corner, the tussle between Lieutenant Governor VK Saxena and AAP convenor Arvind Kejriwal has intensified over the state of civic amenities in the capital.
AAP in a statement hit back at Saxena over his letter to its convener Kejriwal, saying he seems to be "more interested in politics than his sole responsibility-law and order" that is in "complete disarray and worsening" with each passing day.
In a letter to Kejriwal, LG Saxena accused the AAP government of neglecting critical civic infrastructure and public services over the past decade.
The letter came in response to Kejriwal's post on X, where he thanked the LG for highlighting the problems of Rangpuri Pahari during his visit on Saturday.
"LG sahab: Thank you for drawing our attention to the problems of Rangpuri pahadi. Our team is constructing a new drain there and cleaning it on a war footing. You visited New Rohtak Road and also told us about the drain overflow and broken road there.

In response to Kejriwal's tweet, Saxena said in the letter, Thankfully, even after 10 years, your eyes opened to the miserable conditions and hellish civic amenities' prevailing in Delhi

The CII pointed out that despite being successful, the PSL framework required recalibration to stay relevant

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, but a decision on big-ticket rate rationalisation, including a higher tax on sin goods, may be deferred.
The GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that.
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
However, the Fitment Committee (comprising tax

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

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Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

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Global Fintech Summit 2024, Avani Lekhara, Air India & Vistara merger and more

Starting November 12, Vistara will fully merge with Air India. As part of the merger, Singapore Airlines will acquire a 25.1 per cent stake in the newly consolidated Air India.

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