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Next Stable policy push for ISM 2.0; Wipro misses Q1 estimates Want this newsletter delivered to your inbox? Also in the letter Chip sops slashed
Next Stable policy push for ISM 2.0; Wipro misses Q1 estimates Want this newsletter delivered to your inbox? Also in the letter Chip sops slashed, but MeitY bets on policy stability to drive inflows Double click Incentives The initial manufacturing focus is on 28 nm and other legacy nodes, which account for about 80% of chip volumes today. Incentives for silicon fabs are now up to 40%, and up to 35% for other fabs, versus a flat 50% in phase one. Advanced packaging units will get up to 35% support; conventional packaging will receive up to 25%, with states free to top up. ISM 2.0: Founders say demand, talent and execution key to scheme’s success What to do Wipro Q1 results: Profit flat at Rs 3,352 crore in June quarter Financials Net profit: Up 1% year-on-year (YoY) to Rs 3,352 crore from Rs 3,330 crore.
Revenue: Increased 11% YoY to Rs 24,479 crore from Rs 22,135 crore. Dividend: The board declared an interim dividend of Rs 2 per share. Guidance cut: Guidance cut CEO’s take Tech Mahindra Q1 results The numbers Net profit: Rose 28% YoY to Rs 1,465 crore from Rs 1,140.6 crore. Sequentially: Profit increased over 8% from Rs 1,353.8 crore in the March quarter of FY26. Revenue: Grew 18% YoY to Rs 15,712 crore from Rs 13,351.2 crore. CEO's take Byju’s creditors clear Aakash settlement proposal Case update The Bengaluru bench of the NCLT adjourned the case to August 18, giving the parties more time to complete the settlement. Counsel Ichchha Kalash said talks between Think & Learn, Aakash Educational Services, and Manipal Education and Medical Group are progressing, with creditors approving the proposal.
ET had reported on June 22 that talks between Manipal Education and Medical Group and the GLAS Trust, representing Byju's US lenders, were at an advanced stage. Competing claims The settlement aims to resolve the ownership dispute over Aakash Educational Services, in which Manipal Education and Medical Group, led by Ranjan Pai, holds about 58%. Think & Learn held 25.75% before Aakash's rights issue, which could have cut its stake to around 5%. However, GLAS Trust and Think & Learn's resolution professional raised objections. Ather Energy's Rs 1,300-crore QIP subscribed over eight times: sources More on this The issue has been subscribed more than eight times. It opened at a floor price of Rs 1,169.70 per share, about 10% below Wednesday's closing price of Rs 1,298.
Several domestic mutual funds and foreign institutional investors participated in the issue. Investors in the preferential allotment, including Hero MotoCorp and Ather's founders, are investing at around 7% above the QIP floor price. Other Top Stories By Our Reporters Naturis Cosmetics raises Rs 100 crore PhysicsWallah to raise stake in Sarrthi IAS Rize raises $31 million UPI’s merchant fee revival Global Picks We Are Reading
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