Posts by category: Business

Byju Raveendran has offered to repay his $1.2 billion TLB to U.S. lenders before taking any personal funds, highlighting aggressive tactics by lenders as insolvency proceedings persist. Despite legal hurdles, Byju's remains profitable, boasting 200 million monthly users. The founder remains committed to revitalizing operations amidst court battles.

A nationwide bank strike scheduled for March 24-25, 2025, will shut down 3,319 bank branches in Jharkhand due to unresolved issues with the Indian Banks' Association. This includes overtime work demands and safety improvements, impacting financial operations starting March 22.

The National Stock Exchange issued warnings to Suzlon Energy over lapses related to disclosure practices, including late notices for analyst calls and incomplete details about a director's resignation. These violations have attracted scrutiny, leading to a significant drop in Suzlon's share prices.

Waaree Energies Ltd. achieved a noteworthy four-fold increase in its Q3 profit, reaching ₹493 crore. Revenue also saw a significant rise, marking a 116% increase from the previous year's period. The company boasts a 26.5 GW orderbook valued at ₹50,000 crore, with growing opportunities in energy transition markets. The business is expanding its global footprint and strengthening its presence in high-potential regions with a focus on solar and renewable infrastructures.

The Federal Reserve has decided to keep interest rates steady, maintaining the benchmark range between 5.25% and 5.5%. This decision comes amid ongoing inflation concerns and a gradually growing economy. The unanimous decision by the Federal Open Market Committee underscores the balance between sustaining economic expansion and addressing inflation risks. Fed Chairman Jerome Powell reiterated the importance of monitoring economic conditions.

Sridhar Vembu, a pivotal figure at Zoho Corporation, is stepping down as CEO to become Chief Scientist, focusing on R&D as AI continues to evolve. His shift underscores a commitment to innovation while also aligning with his rural development goals. This change comes amid significant industry challenges and aims to bolster Zoho's future through strategic exploration, including potential ventures like chip-making.

The financial world was abuzz as Central Depository Services (India) Ltd. experienced a nearly 10% drop in share prices following their Q3 results. Despite an increase in net profit, lower income and decreased engagement with only 92 lakh new demat accounts cast a shadow over their performance. Analysts have varied ratings, and investors are concerned about sustainability amidst technological investments affecting margins.