Mahindra & Mahindra Ltd (M&M) on Saturday said it has completed the acquisition of a 58.96% controlling stake in commercial vehicle maker SML Isuzu Ltd from Japan’s Sumitomo Corporation and Isuzu Motors for Rs 555 crore.Following the buyout, the company has been renamed ‘SML Mahindra Ltd’, M&M said in a statement. The reconstituted board will…
Warren Buffett’s Berkshire Hathaway reported a sharp 59% drop in second-quarter profit to $12.37 billion, hit by a $3.76 billion writedown on its investment in Kraft Heinz as the food company reconsiders undoing its 2015 merger.The company earned $8,601 per Class A share in the June quarter, down from $21,122 per share, or $30.25 billion,…
An investment of Rs 25,000 a month, invested with discipline, can make you a crorepati. (AI image) Rs 1 crore is a nice big round figure that everybody likes and many aspire for. It is a magic number for many Indian savers: a milestone of financial security and a goal that feels both ambitious and…
MUMBAI: A sharp increase in provisions pulled down quarterly profit at Federal Bank, India’s sixth-largest private lender, even as asset quality and core earnings improved. Net profit declined 14.6% to Rs 861.8 crore in the quarter ended June 30, 2025, from Rs 1,009.5 crore a year earlier.The fall in profit was driven by a 177.4%…
The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report by ratings agency ICRA. The agency attributed the likely deceleration to mixed sowing patterns across major crops, even as it maintained a broadly robust outlook…
Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public offering (IPO).The IPO will be entirely an offer for sale (OFS) of up to 10.54 crore equity shares by existing promoters and shareholders. ARCIL will…
Russia-backed Nayara Energy looks at India’s state-run oil companies to offload petrol, diesel exports Nayara Energy has approached Indian state-run oil marketing companies (OMCs) to offload its export volumes of petrol and diesel after Western sanctions on Russia’s oil and energy sector, according to a senior industry official, reported Economic Times.Nayara Energy is India’s second-largest…
NEW DELHI: On a day when US notified additional levies for countries, with 25% imposed on Indian exports, govt hardened its position asserting that farm and dairy products, genetically modified food, beef and animal feed with meat are no-go areas.Without being confrontational, govt sources made it clear that cultural sensitivities and farmers’ interest will be…
Hyderabad: Fast food giant McDonald’s has rustled up plans to invest $100 million (about Rs 875 crore) in its new global office in Hyderabad over the next couple of years and hire around 2,000 techies by 2027, a top executive said on Friday. “The investment this year and next (2026) will be around $100 million,…
Elon Musk-led Tesla to pay $243 mn in Florida crash case A federal jury in Miami has ruled that Tesla must pay over $200 million in damages after finding its Autopilot driver-assist technology was partly responsible for a fatal 2019 crash that killed 22-year-old Naibel Benavides Leon and severely injured Dillon Angulo in Florida.The jury…
