Business

Sportscar maker Lotus has declared it has “no plans” to close any factory after it emerged the company was considering setting up a new plant in the US. The BBC understands the iconic manufacturer had been considering ending production at its headquarters in Hethel, Norfolk, which would put 1,300 jobs at risk. In a statement on X, it said: “Lotus …

The Railway Board will soon create a detailed blueprint for a modern, technology-driven system. Indian Railways is set to undertake a major upgrade of its over 100-years-old train control systems in a bid to improve operational efficiency and safety across the world’s fourth-largest railway network. The Railway Board will soon create a detailed blueprint for a modern, technology-driven decision support …

SoftBank-backed Meesho has secured shareholders’ approval to raise up to Rs 4,250 crore via an initial public offering, according to the company’s regulatory filing.The resolution for the IPO was passed at the Extraordinary General Meeting held on June 25, the filing by the e-commerce firm stated, as reported PTI.As per the filing dated June 27, the shareholders approved the proposal …

Bangladesh has paid $384 million to Adani Power this month, significantly reducing its outstanding dues under a 2017 power supply agreement with the Indian company, according to sources.As of June 27, Bangladesh has paid $384 million of the committed $437 million scheduled for the month. Sources said this amount clears the country’s “admitted” dues till March 31, though “claimed” dues …

Meesho representative image Bengaluru-based ecommerce marketplace Meesho has received shareholder approval to launch its initial public offering (IPO), aiming to raise Rs 4,250 crore (about $500 million) through a fresh issue of equity shares, according to filings with the Registrar of Companies.The approval was granted at an extraordinary general meeting of the company. The IPO will also include an offer …

A large volume of pre-IPO lock-in shares worth $1.86 billion is set to expire in July 2025, potentially triggering shifts in the shareholding patterns of several recently listed companies, including Jyoti CNC Automation, Unimech Aerospace, and Medi Assist Healthcare. According to a Nuvama Institutional Equities report, these lock-in expiries span both promoter and non-promoter holdings across multiple firms.The lock-in expiries …

Accelerating the rollout of plug-and-play industrial parks, improving logistics infrastructure, and targeted skilling are essential for boosting India’s manufacturing output and self-reliance, according to real estate consultancy Cushman & Wakefield.In its latest report, Elevating India’s Manufacturing Resilience: Charting the Path to Self-Reliance, based on responses from 94 senior decision-makers across India’s manufacturing and logistics sectors, the consultancy outlines how industry …

The need to scale up research and development (R&D) across Indian academia and industry was a recurring theme at the ‘AI for India’ summit in Bengaluru, where leading voices in artificial intelligence stressed the urgency of cross-sectoral collaboration to make AI work at scale in India.“This is an opportunity. R&D must step up, and this effort needs to be implemented …

Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd, will begin operations in two new coal mines in Odisha’s Talcher coalfield area by FY 2029-30, adding 35 million tonnes (MT) to its reserves, a senior company official said on Friday.“We are going to start operation of the Subhadra coal mine having a reserve of 25 MT in Talcher area …

Elon Musk-owned Starlink is poised to receive its final regulatory approval to launch satellite communication services in India, with space regulator IN-SPACe issuing a draft authorisation document for the company to sign. Once completed, the Indian National Space Promotion and Authorisation Centre will countersign the document, effectively clearing the way for Starlink to begin operations.The development will place Starlink on …