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Future Retail receives bids from 6 applicants in bankruptcy resolution

Debt-ridden Future Retail Ltd said on Wednesday it had received bids from six applicants in its insolvency resolution process

GlaxoSmithKline Pharma's pre-tax profit falls 8% on govt pricing caps

India's GlaxoSmithKline Pharmaceuticals Ltd reported an 8.6% fall in its pre-tax profit for the fourth quarter on Wednesday, hurt by the government's curbs on pricing of some essential medicines

Tesla plans to build EV plant in India for domestic sales, exports

Senior Tesla executives are in India this week to meet the government to discuss local sourcing of parts and other issues, Reuters reported on Tuesday

Traders bet on rate cuts, dollar rises with US debt default risk in focus

By Tom Westbrook and Joice Alves

KFC-operator India's Devyani's profit falls on expenses, demand slowdown

Revenue from operations surged 28% to 7.55 billion rupees as it opened 66 new stores. However, revenue slipped around 5% from the previous quarter

Banks express concern over high overnight funding costs, ask for RBI's help

Indian banks put forth their concerns over elevated overnight rates at a money markets association meeting last week and have informally asked the Reserve Bank of India to help manage liquidity

Bank of Baroda 'well protected' for switch to RBI's new loan-loss proposal

Its gross non-performing assets (NPA) ratio fell to 3.79% in the fourth quarter from 4.53% in the previous quarter, while its net NPA ratio fell to 0.89% from 0.99% for the same period

Q4 profit more than doubled on soaring demand, says Oberoi Realty

Indian real-estate developer Oberoi Realty Ltd said on Tuesday fourth-quarter profit more than doubled, boosted by strong bookings as the demand for housing saw an upswing in the country

Jindal Steel's Q4 profit down 70% as prices fall, cost of raw material rise

Jindal Steel and Power Ltd reported a 69.5% fall in quarterly profit on Tuesday, hurt by lower steel prices and higher costs of raw materials like iron.

Crack down on 'resale' of Russia oil: EU foreign policy chief Josep Borrell

India has emerged in the past year as a top buyer of Russian oil following the war

Russian firms investing rupee surplus in Indian govt debt: IBA chief

IBA chief Sunil Mehta is the first senior official to confirm that Russian funds in Indian banks were being invested into government securities as it gives them the advantage of easy liquidity

OpenAI CEO Sam Altman proposes licences for building AI to US Congress

Some critics fear the technology will exacerbate societal harms, among them prejudice and misinformation, while others warn AI could end humanity itself

No one can join Tesla unless I personally approve, says CEO Elon Musk

Musk named former NBC Universal advertising chief Linda Yaccarino as Twitter's new CEO last week

J&J's proposed talc settlement would pay $400 million to US state AGs

J&J subsidiary LTL Management filed a bankruptcy plan in New Jersey late on Monday that details how the company intends to pay different types of cancer victims in a bankruptcy settlement

Was unaware of bank's problems when stocks were sold, says ex-SVB CEO

Becker, who sold SVB shares through the first quarter - the largest sale of which occurred on Feb 27, less than two weeks before the bank collapsed on March 10

US factories production surges in April as motor vehicles output rises

Capacity use for the manufacturing sector increased 0.7 percentage point to 78.3% in April. It is 0.1 percentage point above its long-run average

Redington posts record Q4 revenue on strong demand for laptops, phones

IT products distributor Redington reported 26% increase in quarterly revenue, boosted by demand for laptops and mobile phones

Granules profit up 7.8% to Rs 120 crore boosted by drug ingredient business

Granules India reported a 7.8% rise in fourth-quarter profit, spurred by strong growth in its business of making active pharmaceutical ingredient (API) for drugs

Jubilant Ingrevia Q4 profit slump 24% as supplements faced headwinds

Consolidated net profit fell to 523.1 million rupees ($6.4 million) for the three months ended March 31 from 685.9 million rupees a year earlier, marking the fourth straight quarter of earnings drop

Commercial real estate lull to continue for at least 2 years: Anarock

By Savio Shetty