EaseMyTrip Founder Nishant Pitti on Friday accused rival online travel and hospitality major MakeMyTrip of putting the travel data of Indian Armed Forces personnel into danger, alleging that "half of MakeMyTrip's board -- five out of 10 directors have direct ties to China, including pivotal appointments by Trip.com, a company with Chinese ownership".

According to Pitti, "three of the four most strategic board committees (at MakeMyTrip) are either led or significantly influenced by directors with clear Chinese affiliations, giving them disproportionate sway over critical decisions".

"MakeMyTrip may dismiss this as a ‘motivated accusation’ but when national security is at stake, silence is not an option,” he said in a statement.

After Swiggy, its online food delivery rival Zomato has made a new change to its Gold membership benefits for the rainy season.

Starting from Friday, Gold members will no longer be exempt from surge fees during rainy weather. This means that even paying subscribers will have to pay an extra fee for food delivery when it rains.

The company informed users about this change through an in-app notification. The message said, “Starting May 16, surge fee waiver during rains will not be part of your Gold benefits.”

However, Zomato has not shared the exact amount of the surge fee yet. Zomato explained that this extra charge will help the company provide better compensation to delivery partners who work in difficult weather conditions.

The chief executive officer (CEO) of HD Hyundai, South Korea's leading shipbuilding conglomerate, met with US Trade Representative (USTR) Jamieson Greer to explore cooperation in the shipbuilding sector, the company said on Friday.

HD Hyundai CEO Chung Ki-sun and Greer held the meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) trade ministers' meeting, held on Jeju Island from Thursday to Friday, the company said in a press release.

The meeting marked the first official dialogue between the USTR and South Korea's shipbuilding industry, reports news agency.

During the talks, Chung emphasised the need to strengthen bilateral cooperation in shipbuilding through joint technology development, process collaboration and workforce training programmes, the company said.

Adani Airport Holdings has terminated the ground handling concession agreement with Turkish firm Celebi at Mumbai and Ahmedabad airports with immediate effect.

In a statement, Adani Airports said that after the government’s decision to revoke Celebi's security clearance, “we have terminated the ground handling concession agreements with Celebi at Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA) and Ahmedabad's Sardar Vallabhbhai Patel International Airport (SVPIA)”.

“Accordingly, Celebi has been directed to immediately hand over to us all ground handling facilities to ensure uninterrupted operations,” said the company.

It further stated that the company will continue to provide seamless service to all airlines without disruptions through new ground handling agencies.

Saregama India Limited, part of the RPSG Group and chaired by Sanjiv Goenka, on Thursday reported a decline in both revenue and net profit in the fourth quarter (Q4) of FY25 compared to the previous quarter (Q3 FY25).

The company’s revenue from operations fell sequentially by 50.16 per cent to Rs 240.82 crore in Q4, from Rs 483.43 crore in Q3, according to its stock exchange filing.

Similarly, Saregama’s profit after tax (PAT) in Q4 stood at Rs 59.86 crore, a 3.98 per cent drop sequentially from Rs 62.34 crore reported in Q3.

Profit attributable to the owner of the company declined by 3.50 per cent, from Rs 62.31 crore in Q3 to Rs 60.13 crore in Q4.

Total income also took a hit as it dropped by 48.21 per cent, coming in at Rs 258.47 crore in the March quarter (Q4), compared to Rs 499.14 crore in the December quarter (Q3).

Shares of Muthoot Finance on Thursday slipped 7.25 per cent or Rs 163.90 to hit an intra-day low of Rs 2,096 on the national Stock Exchange (NSE) amid Reserve Bank of India's (RBI) draft loan-to-value (LTV) norms.

.On the Bombay Stock Exchange (BSE), the shares were trading at Rs 2,096.40, down by Rs 166.35 or 7.35 per cent during the intra-day session.

The decline in Muthoot Finance's share price was driven by concerns over the Reserve Bank of India’s (RBI) draft regulations on LTV norms for gold loans.

According to analysts, the RBI’s draft guidelines, if implemented, could have a near-term impact on the disbursement LTV of Muthoot Finance and its peer non-banking financial companies (NBFCs).

As per a note by Motilal Oswal, "Until the final gold-lending guidelines are published by the RBI, the growth outlook on gold loans will remain uncertain."

The Indian telecom sector continues its stable trajectory in workforce demand, with fresher hiring intent standing at 45 per cent in the first half of 2025, according to a report on Thursday.

The report (based on HY1, that is, January-June 2025) by TeamLease EdTech showed that telecom remains a significant employment generator as the sector rapidly transitions to 5G networks, cloud-native architecture, and enhanced cyber resilience.

While the sector witnessed a marginal decline from the 48 per cent freshers hiring intent reported in the previous half-year (July-December 2024), the momentum remains robust, driven by demand for specialised roles like radiofrequency (RF) engineers, network security analysts, and field technical engineers.

India presents a unique cost structure for office fit-outs compared to the broader Asia-Pacific region, a report said on Thursday.

Builders' works account for 32 per cent of fit-out costs in India, significantly lower than the 41 per cent average in the Asia-Pacific region — reflecting India's competitive labour market, according to a JLL report.

Mechanical and electrical services, including heating, ventilation, and air conditioning (HVAC), electrical, fire and UPS systems, account for 29 per cent of overall costs in India, surpassing the APAC average of 21 per cent.

This higher percentage suggests that landlord provisions in India may be less comprehensive, requiring tenants to invest more in these essential systems.

Chinese defence firm Avic Chengdu Aircraft, the maker of J-10 fighter jets which were used by Pakistan against India during the conflict, has seen its share price crashing almost 12 per cent.

The sharp drop in its stock came after the Prime Minister Narendra Modi’s speech upon the successful completion of ‘Operation Sindoor’ which resulted in a decisive victory for India.

Shares of Chinese defence companies faced a heavy selloff this week while Indian defence sector stocks surged.

From Monday's close of 95.86 yuan per share levels, Avic Chengdu Aircraft stock has declined by over 11.50 per cent.

On Thursday, the Chinese defence company’s stock was trading at 85.20 yuan per share after touching an intra-day low of 85, over 11.50 per cent dip in three successive days.

The company posted a net profit of Rs 48.7 crore for the quarter, down from Rs 54.4 crore in the same period last fiscal, according to a regulatory filing.

Despite the fall in profit, NIIT MTS reported a 7.9 per cent increase in its revenue from operations, which stood at Rs 429.7 crore during the quarter.

However, on a quarter-over-quarter (QoQ) basis, the company saw its profit shrink by 21 per cent, while revenue grew by just 2.6 per cent.