State Bank of India (SBI) on Saturday launched CHAKRA, a dedicated Centre of Excellence aimed at financing India’s fast emerging sunrise sectors, including renewable energy, advanced cell chemistry and battery storage, electric mobility, green hydrogen, semiconductors, decarbonisation, smart infrastructure, and data centre infrastructure. According to SBI, these sectors together hold an estimated economic output potential of nearly ₹100 trillion over the next five years, underlining their importance to India’s long-term growth and industrial transformation. Speaking at the launch, C S Setty, Chairman of SBI, said the bank has identified a lendable opportunity of around ₹20–22 trillion across these sunrise sectors…
Author: Adarsh Kumar
Haryana-based real estate developer Eldeco Infrastructure and Properties has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO), according to regulatory observations issued by the market watchdog. The proposed IPO will comprise a fresh issue of equity shares worth ₹800 crore, along with an offer for sale (OFS) of up to ₹200 crore by the promoters, taking the total issue size to ₹1,000 crore. Proceeds from the fresh issue are expected to be used to strengthen the company’s balance sheet, fund ongoing and future real estate projects, and support general…
Google India reported a largely flat standalone profit of ₹1,436.9 crore in FY25, even as operating revenue declined and costs rose, according to regulatory filings analysed by market intelligence firm Tofler. The profit after tax was marginally higher than the ₹1,425 crore reported in FY24, but the year-on-year comparison masks structural changes in the company’s India operations. A spokesperson for Google India said the FY25 numbers are not directly comparable with the previous year. In FY24, Google India’s profit included income from its IT services division, which was later demerged into a separate entity, Google IT Services. As a result,…
Talks between Nvidia and OpenAI over a potential investment of up to $100 billion have collapsed, stalling what would have been one of the largest strategic deals in the global artificial intelligence ecosystem, according to a Wall Street Journal report. The discussions reportedly broke down after concerns were raised within Nvidia about the structure and scale of the proposed transaction. The two companies had announced a letter of intent in September, positioning the deal as a long-term partnership to fund massive AI infrastructure, including new data centres powered by Nvidia’s chips. At the time, the plan involved building AI compute…
Feminine hygiene and personal care brand Plush continued its strong growth trajectory in the fiscal year ended March 2025, more than doubling its revenue even as higher spending led to a wider loss during the period. Plush’s revenue from operations jumped 2.3X to Rs 66 crore in FY25 from Rs 29 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Including around Rs 1 crore in other income, primarily interest, the company’s total income stood at Rs 67 crore in FY25. The brand primarily earns its revenue from the sale of feminine hygiene and…
After delivering a sharp 2.3X growth in FY24, direct-to-consumer menswear brand Snitch managed to sustain its momentum in FY25, doubling its scale, crossing the Rs 500 crore revenue mark and remaining close to breakeven despite rising costs. Snitch’s revenue from operations surged to Rs 498 crore in FY25 from Rs 241 crore in FY24, according to its annual financial statements sourced from the Registrar of Companies (RoC). The performance underscores the brand’s ability to scale rapidly in India’s crowded D2C fashion market without letting losses spiral. Founded in 2020 by Siddharth Dungarwal, Snitch focuses on trendy, fast fashion menswear and…
Fintech unicorn CRED showed clear signs of operational tightening in FY25, reporting steady revenue growth while sharply reducing its core losses a shift that reflects the company’s growing focus on efficiency over pure scale. CRED’s operating revenue rose 16% year-on-year to Rs 2,735 crore in FY25, according to a company release. More importantly, operating losses declined 51% to Rs 298 crore, marking one of the strongest improvements in its cost structure since inception. At the operating level, CRED’s gross margins remained strong at around 70%, indicating that the underlying business continues to generate healthy contribution margins. However, the company remained…
Space surveillance and intelligence startup Digantara has touched a post money valuation of around $200 million (₹1,740 crore) following its recently announced $50 million Series B funding round led by Reliance. While the Bengaluru based company did not disclose valuation details at the time of announcing the fundraise, regulatory filings sourced from the Registrar of Companies (RoC) show that Digantara issued 8,451 Series B preference shares at an issue price of ₹5,14,793 each, raising a total of ₹435 crore (approximately $50 million). Reliance Business Ventures led the round with an investment of ₹261 crore, accounting for nearly $30 million. 360…
Tata Mutual Fund has crossed the 5% shareholding threshold in CarTrade Tech after acquiring additional shares through open market transactions. According to a regulatory disclosure, Tata Asset Management Company, acting on behalf of its mutual fund schemes, purchased 90,522 equity shares of CarTrade on January 28, 2026. Holding crosses regulatory threshold Following the transaction, Tata Mutual Fund’s aggregate holding in CarTrade rose to 23,99,962 shares, representing 5.0163% of the company’s total equity. Prior to the acquisition, Tata Mutual Fund held 23,09,440 shares, equivalent to 4.8271% stake in the online auto classifieds platform. Multiple schemes participate in open market buy The…
Foodtech and quick commerce major Swiggy reported strong top-line growth in the third quarter of FY26, even as losses widened amid aggressive expansion across logistics and quick commerce. The Bengaluru based company’s operating revenue jumped 54% year-on-year to Rs 6,148 crore in Q3 FY26, compared with Rs 3,993 crore in Q3 FY25, according to its consolidated financial disclosures. Scootsy Logistics drives topline growth Scootsy Logistics emerged as the largest contributor, accounting for 48% of Swiggy’s operating revenue during the quarter. Revenue from Scootsy surged 76% YoY to Rs 2,981 crore in Q3 FY26 from Rs 1,693 crore a year ago,…