Silicon Rise

Tech Mahindra's Q1 FY25 net profit surged to ₹851.5 crore, a 29% QoQ increase, driven by volume growth, portfolio shifts, and cost management. Revenue rose 10% QoQ to ₹13,005.5 crore, meeting street expectations. EBIT margin improved to 8.5%, with a deal TCV of $534 million. CEO Mohit Joshi highlighted positive momentum across industry verticals, while CFO Rohit Anand emphasized a strong start for the current turnaround year and long-term strategy. Headcount grew by 2,165 sequentially, totaling 147,620, with flat attrition at 10%. #TechMahindra, #Q1Results, #NetProfit, #RevenueGrowth, #ITServices, #QuarterlyEarnings, #FinancialResults, #EarningsReport, #StockMarket, #Investment, #BusinessGrowth, #TechNews

BMW emphasizes the need for incentives to boost the EV market in India. Unveiling the all-electric MINI Countryman and electric scooter CE04, BMW aims to smoothen the transition to electric vehicles. With tax benefits favoring EVs and plans for more models, BMW is committed to driving the electric revolution in India. #BMW #MINICountryman #CE04 #EV #ElectricVehicles #SustainableMobility #GreenFuture #EVRevolution #ElectricCar #BMWIndia #ElectricScooter

Walmart Inc.-owned PhonePe and Alphabet Inc.’s Google Pay saw a slight decline in their share of UPI transactions in June as smaller players gained traction. PhonePe’s share dropped to 48.37%, while Google Pay’s fell to 36.76%. Overall, the UPI network processed 13.88 billion transactions, a 1% decrease from May. The UPI space is evolving, with new players like Axis Bank Ltd.’s apps, Navi app, Flipkart's super.money, and JioFinance entering the market. #PhonePe, #GooglePay, #UPI, #Fintech, #DigitalPayments, #Walmart, #Alphabet, #AxisBank, #NaviApp, #Flipkart, #JioFinance, #Transactions, #MarketShare, #NPCI, #Banking, #IndiaFintech

Reliance Industries Ltd. has received US approval to resume importing oil from Venezuela, bypassing White House sanctions. As India’s largest privately owned refiner, Reliance plans to restart purchasing Venezuelan crude soon. The company previously accounted for 90% of India's crude imports from Venezuela post-sanctions lift last year. Following the US's temporary removal and reinstatement of sanctions, Reliance and ONGC Videsh Ltd. are actively seeking permits to continue operations in Venezuela. #RelianceIndustries, #OilImports, #VenezuelaOil, #USSanctions, #MukeshAmbani, #QuickCommerce, #IndianRefiners, #CrudeOil, #OilMarket, #EnergySector, #TradeNews, #GlobalEconomy

Adani Green Energy has operationalized a 250 MW wind power generation unit at the world's largest 30,000 MW renewable energy plant in Khavda, Gujarat. This milestone increases the cumulative capacity to 2,250 MW at Khavda. With the addition of 250 MW wind capacity, AGEL strengthens its leadership in India, boasting the largest operational portfolio of 11,184 MW. Khavda's ideal wind conditions and state-of-the-art 5.2 MW onshore wind turbines ensure optimal land use and high energy yield. The Khavda RE plant can power 16.1 million homes annually, showcasing AGEL's commitment to clean and affordable energy. #AdaniGreenEnergy, #RenewableEnergy, #WindPower, #CleanEnergy, #SustainableFuture, #GreenEnergy, #EnergyInnovation, #WindTurbines, #KhavdaPlant, #GujaratEnergy

Hindalco Industries announced the sale of its land parcel in Kalwa, Maharashtra, to Ekamaya Properties Pvt Ltd, a subsidiary of Birla Estates Pvt Ltd, for Rs 595 crore. Initially approved on July 12, 2023, the transaction awaits regulatory approval and the completion of closing conditions. Hindalco operates across the value chain, including bauxite mining, alumina refining, coal mining, power plants, aluminium smelting, and downstream products. #HindalcoIndustries, #Kalwa, #Maharashtra, #EkamayaProperties, #BirlaEstates, #LandSale, #RealEstate, #AluminiumIndustry, #BauxiteMining, #AluminaRefining, #CoalMining, #PowerPlants

Alembic Pharmaceuticals Ltd. has received tentative USFDA approval for its generic Selexipag injection, used to treat pulmonary arterial hypertension (PAH). This ANDA is equivalent to Uptravi for Injection and could grant Alembic 180 days of generic marketing exclusivity in the US. PAH is a rare disorder characterized by high blood pressure in the lungs. #AlembicPharma, #USFDAApproval, #Selexipag, #GenericDrugs, #PharmaceuticalNews, #Healthcare, #MedicalResearch, #PAH, #PulmonaryHypertension, #DrugApproval, #PharmaIndustry

Unacademy COO Jagnoor Singh steps down as Gaurav Munjal and Sumit Jain take direct charge. Following Hemesh Singh's exit as CTO, Unacademy restructures, laying off 250 employees to streamline operations. The company, adapting to a changing business environment, has improved its financial health and trimmed losses. #Unacademy, #LeadershipChange, #JagnoorSingh, #GauravMunjal, #SumitJain, #HemeshSingh, #Restructuring, #Layoffs, #BusinessEfficiency

📡 Panasonic Avionics has opened a new software design and development facility in Pune to boost in-flight engagement and connectivity (IFEC) solutions. Inaugurated by Civil Aviation Minister Murlidhar Mohol, this facility is their first in India and will employ over 200 engineers. The center aims to accelerate software development, improve time-to-market for IFEC solutions, and support growing airline demands. With India's vast pool of skilled engineers and a booming aviation sector, this investment marks a significant milestone for Panasonic Avionics. 🌏✈️ #PanasonicAvionics, #IFEC, #InFlightEntertainment, #Pune, #SoftwareDevelopment, #AviationInnovation, #CivilAviation, #DigitalSolutions, #EngineeringJobs, #AirlineTechnology

Sanofi Healthcare India Pvt Ltd is expanding its Global Capacity Centre (GCC) in Hyderabad with a €400 million investment over six years. By next year, €100 million will be invested, and the GCC will grow to host up to 2,600 employees, becoming Sanofi's largest global hub. Established in 2019, the Hyderabad hub has evolved from a medical hub to providing top-notch services for Sanofi's global functions and affiliates. #Sanofi, #Healthcare, #India, #Investment, #Hyderabad, #GlobalHub, #BusinessGrowth, #GCCExpansion, #MedicalServices, #PharmaIndustry, #GlobalFunctions, #SanofiIndia, #EuroInvestment