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After CCI, NCLT gives green light to Viacom 18-Star India INR 70,000 Cr Merger
The merger between Viacom-18 of Reliance and Star India of Walt Disney has been approved by NCLT. The resultant entity is expected to be the biggest media house of the country. Both parties are keen on sorting out the deal by this October.
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Looking to fund your Start up – Explore Various Types of Funding Options Available to Start ups!
This article explores various types of start-up capital. From pre-seed to Series D+ funding and non-series options like venture capital, incubators and small business loans, all the major funding options are covered here. It provides examples of Indian companies and practical insights for entrepreneurs seeking funding.
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Sovereign Gold Bonds Vs. Physical Gold: Which Is the Ultimate Investment Strategy for You?
Sovereign Gold Bonds (SGBs) offer safety, interest and tax benefits. Whereas, physical gold provides tangibility and cultural value. Diversifying with both ensures balanced & resilient investments. Investors should combine the advantages of government-backed bonds and the timeless value of physical gold.
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Simple Energy Secures USD 20 Million to Supercharge E-Scooter Production and Transform EV Market
Electric vehicle start-up Simple Energy raised USD 20 million in Series A funding. They will use these funds to boost production of its e-scooters, expand into new markets and develop new products. Simple Energy aims to redefine the EV landscape in India and beyond.
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The Power of Systematic Transfer Plans (STP) Over SIPs for Smarter Wealth Growth: Know How to Maximize Your Wealth
A Systematic Transfer Plan (STP) allows investors to transfer funds from a debt to an equity mutual fund regularly. This helps the investors mitigate market timing risks. Unlike a Systematic Investment Plan (SIP), STPs provide returns from both debt and equity funds. Thus, offering higher returns.
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Ola Electric’s IPO to Open on August 2: Price Band Set to INR 72-76
Ola Electric, under the leadership of Bhavish Aggarwal, is preparing to initiate the anchor book for its highly anticipated IPO on August 1. The IPO aims to raise approximately $740 million through a mix of fresh issues and an offer-for-sale (OFS), positioning Ola Electric for a post-money valuation of $4 billion to $4.25 billion.
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ITC to Invest INR 20,000 Crore in India’s Growth: New Products, Market Expansion and Strategic Innovation
ITC Ltd will invest INR 20,000 crore in the medium term across various sectors. It will now focus on FMCG, paperboard, packaging and innovation. The investment aims to enhance competitiveness & launch new products. It will capitalize on India's projected economic growth despite current challenges.
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ONDC Surpasses 5.7 Lakh Sellers: Rapid Growth and Expanding Digital Commerce Network in India
Open Network for Digital Commerce (ONDC) is rapidly expanding. It is now hosting over 5.7 lakh sellers and service providers. It was launched in 2021 and it aims to democratize e-commerce in India. It will be integrating major companies. By this ONDC will be broadening services across the country.
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71% Intraday Traders Lose Money And 76% Under 30 Face High Loss Rates: Check What Else This New Study By SEBI Says For FY23
A SEBI study revealed that 71% of intraday trades in FY23 resulted in losses. 76% of these loss-making traders were under 30. The number of young traders has increased, but the younger traders faced higher loss rates. This shows the risk of intraday trading.
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Akums Drugs and Pharmaceuticals IPO Opens on July 30: Shares Worth INR 1857 Cr on Offer
Delhi-based Akums Drugs and Pharmaceuticals, a leading contract development and manufacturing organisation (CDMO), is set to launch its initial public offering (IPO) on July 30, with a price band of INR 646-679 per share. The IPO comprises a fresh issuance of shares worth INR 680 crore and an offer-for-sale (OFS) of 1.73 crore equity shares by existing shareholders.
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Special Packages to Boost Bihar and Andhra Pradesh: Check How Budget 2024 is Strengthening its Key Allies
On July 23, 2024, Finance Minister Nirmala Sitharaman announced special schemes for Bihar and Andhra Pradesh in Budget 2024-25. This also includes the 'Purvodaya' scheme and significant infrastructure projects. These measures aim to strengthen BJP alliances with key allies Nitish Kumar and Chandrababu Naidu.
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Defence Spending Up by INR 500 Crore: Budget 2024 is Boosting Domestic Procurement and Border Infrastructure
The Union Budget 2024-25 raises the defence budget by INR 500 crore to INR 6,21,940 crore. There is a focus on domestic procurement and a 30% increase for the Border Roads Organisation. Capital expenditure rises to INR 1.72 lakh crore.
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Union Budget 2024: An INR 1.52 Lakh Crore Boost for Agriculture and Sustainable Farming Practices
Finance Minister Nirmala Sitharaman in her Union Budget 2024-25, proposed a allocation of INR 1.52 lakh crore for agriculture and allied sectors. The budget places greater focus on sustainable farming practices, the promotion of digital infrastructure, and agricultural productivity enhancement.
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Is Union Budget 2024-25 Really Empowering Growth, Focuses on Fiscal Stability, Employment and Sustainable Development?
On July 23, 2024, the Union Budget 2024-25 was presented by Finance Minister Nirmala Sitharaman. It mainly focuses on fiscal stability, employment, skilling, MSMEs, agriculture, urban development, energy security, infrastructure and innovation. It includes extensive schemes. India is investing to drive inclusive and sustainable growth.
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Budget 2024: Government Unveils GST Expansion, Duty Cuts on Essentials and Simplified Tax Regime
On July 23, 2024, the Union Budget 2024-25 which was presented by Finance Minister Nirmala Sitharaman, simplifies and rationalizes GST. It reduces customs duties on essential items, and adjusts direct taxes to boost economic growth. Key changes include reduced duties on cancer drugs, mobile parts, and precious metals, alongside improved taxpayer services and dispute resolution.
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Global Microsoft Outage Disrupts Indian Airlines: Delays, Manual Check-ins and Government Response
Significant disruptions for Indian airlines were caused by a global computer outage. This led to delays and manual check-ins. Both the stock exchanges remained unaffected. Government officials assured efforts to minimize these impacts.
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Ola Electric’s IPO may be valued at USD 4.5 Billion: 20% up from last funding
Ola Electric plans to launch its IPO at a reduced valuation of $4.5 billion, raising INR 5,500 crore amid intensified competition and strategic cost-cutting measures. This significant tech IPO signals a resurgence in public market debuts for new-economy companies.
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Dharana Capital Invests USD 50 Million in Urban Company: This Marks Largest ESOP Sale in History
Dharana Capital invested USD 50 million in Urban Company. This marks the largest ESOP sale in UC's history. Urban Company was last valued at USD 2.1 billion. It reported recent profitability and plans an IPO next year.
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Milky Mist Plans INR 2,000 Crore IPO: Check how it will Expand to Compete with Amul in Dairy Market
Milky Mist, an Erode-based dairy company, plans an IPO at a INR 20,000 crore valuation to expand its product range and compete with Amul. Founded by T Sathish Kumar, it ended FY24 with a turnover of INR 2,000 crore
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Aurobindo Pharma Approves INR 750 Crore Share Buyback at Premium
Aurobindo Pharma's board has approved an INR 750 crore share buyback at INR 1,460 per share, a 6.4% premium. Despite a brief dip in share price, this strategic move aims to enhance shareholder value, with the record date set for July 30.
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Strong Investor Demand for Four IPOs on Second Day of Subscription
All four IPOs – Sati Poly Plast, Prizor Viztech, Aelea Commodities, and Three M Paper Boards – witnessed strong investor demand on their second day of subscription. Sati Poly Plast led the way with a 129.20 times subscription.
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SEBI Warns Paytm Over Unapproved INR 360 Crore Transactions with Payments Bank
SEBI issued an administrative warning to Paytm for unapproved transactions with Paytm Payments Bank. These transactions are worth INR 324 crore and INR 36 crore. Paytm must improve compliance, take corrective action and respond to SEBI. The warning has no impact on Paytm's operations.
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NCLT Admits BCCI’s Insolvency Plea Against Byju’s Parent Company: Byju’s to Challenge Order and Seek Settlement
The NCLT has initiated insolvency proceedings against Byju's parent company, Think and Learn. This was followed by a plea from the BCCI. Byju's plans to challenge the order and seek an amicable settlement.
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Mutual Funds Pour Over INR 42,000 Crore into HDFC Bank Shares in the First Half of 2024
In the first half of 2024, mutual funds significantly increased their investment in HDFC Bank, purchasing over INR 42,000 crore worth of shares. Despite this strong domestic interest, foreign investors slightly reduced their stakes
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Zen Technologies’ Shares Surge 5% After Launching Advanced AI-Powered Defense Products
Zen Technologies launched four new AI-powered defense products. This has increased its share prices by 5%. The innovations include advanced anti-drone systems, lightweight weapon stations, automated quadrupeds and stabilised sights.
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Jio Financial Services Q1 FY25: Net Profit Drops 5.72% to INR 313 Crore, Launches New Financial Products
Jio Financial Services reported a 5.72% drop in Q1FY25 net profit to INR 313 crore. The interest income fell 19.8%. JFS introduced new financial products and expanded its services. This includes digital insurance and leasing, despite the profit decline. Analysts suggest holding Jio Financial.
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REC Limited Secures 31.96 Billion Yen Green Loan from Deutsche bank
REC Limited secured a 31.96 billion yen green loan via Deutsche Bank’s Gift City branch to finance green projects in India. This transaction underscores REC's commitment to sustainable energy financing
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OpenAI’s New Project ‘Strawberry’: Advancing AI Reasoning and Autonomous Research Capability
OpenAI is developing 'Strawberry' to enhance AI's reasoning abilities. They will enable it to tackle complex tasks and conduct autonomous internet research. This breakthrough could redefine AI's role in various industries.
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IREDA Q1 Results Show 30% Surge in Profits: From Asset Quality to Future FPO Plans Check All the Details
IREDA reported a 30% rise in Q1 net profit to INR 383.69 crore. They also showed improved asset quality and significant growth in loan sanctions and disbursements. The company plans an INR 4,000-INR 5,000 crore FPO.
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Partior Secures $60 Million in Series B Funding to Expand Blockchain-Based Clearing and Settlement Network
Partior, a blockchain-based clearing and settlement network has secured funding led by Peak XV Partners. The investment will be used to expand Partior's international network, integrate additional currencies, and develop new capabilities such as intraday FX swaps and cross-currency repos.
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Zerodha’s Zero Brokerage Model Faces Uncertainty, Says Kamath: SEBI’s New Rule
On July 2, 2024, Zerodha's CEO Nithin Kamath announces potential end to zero brokerage investing. This is due to SEBI's new uniform charge rule. Brokers must adjust pricing strategies.
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Age old India-Russia ties keeps Russian economy afloat despite western sanctions and war
World Bank recently upgraded Russia to the High-Income group despite ongoing sanctions and the Ukraine war. India plays a crucial role as the country's oil imports surge 25 times in the last four years and India-Russia bilateral trade reaches its all time high.
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TCS Shows 9% Profit Surge, INR 10 Dividend and Strong Revenue Growth in Q1 of FY25
On July 11, 2024, Tata Consultancy Services (TCS) reported a 9% rise in net profit of INR 12,040 crore and a 5.4% increase in revenue of INR 62,613 crore for Q1 of FY25. TCS announced an interim dividend of INR 10 per share.
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Rally In RVNL’s Share Prices: Check Why RVNL Stocks Surged By 60% In Just One Month
In just one month, the share prices of RVNL increased by nearly 60%. This is mainly due to multiple order wins like Strategic MoUs with domestic & international companies, projects in railways and metro construction
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Tata Mutual Launches Tata Nifty India Tourism Index Fund: The Wave of New Tourism Boom Starts
Tata Mutual Fund launched the Tata Nifty India Tourism Index Fund. It is an open-ended equity scheme focusing on India's tourism sector. This fund will be available for subscription from July 08, 2024 to July 19, 2024.
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Reliance Retail To Compete With Decathlon: A New Sports Brand Wars Starts In The Post-Pandemic Athleisure Boom
Reliance Retail plans to launch a new sports brand to rival Decathlon. By this, they are aiming to capture the growing post-pandemic athleisure market. This move is part of Reliance's broader diversification strategy. This includes ventures into consumer durables and diagnostic healthcare sectors.
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‘Aditi’, an affordable health insurance by Narayan Health: Check how this can revolutionize insurance sector
Narayana Health introduces healthcare insurance, 'Aditi'. It is an INR 10,000 annual premium health insurance covering surgery up to INR 1 crore and treatments at INR 5 lakh. Their main challenges include hospital-centric care and potential overuse of surgeries. They are aiming to complement existing government schemes like Ayushmaan Bharat.
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Citigroup report on bleak picture of Indian unemployment rates: Labour ministry opposes
Indian Labour ministry declared the Citigroup report invalid. The report stated the continued projection of increased unemployment rate even if India would achieve 7% growth rate in future. The ministry reported that the analysis did not refer to all official reports
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“Bajaj Ki Guarantee” For World’s First CNG Motorcycle: Freedom 125 For The Independent India
Bajaj Auto launches the world's first CNG motorcycle, Freedom 125. The starting price is at INR 95,000. The bike features both CNG and petrol tanks. It offers a range of 330 km and promises sustainability. Bookings are now open in Maharashtra and Gujarat. These bikes will be available nationwide soon.
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OLA Quits Google Maps Services, Saves INR 100 Crore with In-House Tech: Creates Map for the Future
Ola Cabs has switched from Google Maps to its in-house Ola Maps. By this they are saving approximately INR 100 crore annually. This new map includes new features like street view and 3D maps. They have also featured their transition to Krutrim AI. By this, they are enhancing their mapping and AI services.
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Punjab National Bank and 4 more banks penalised by RBI for regulatory violations
Five banks, including Punjab National Bank in total have been penalised by RBI due to the failure to comply with RBI guidelines on Loans and Advances and Know Your Customer.
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Is Farm loans waiver implemented at the cost of country’s development
Telangana government aims to waive off farm loans worth INR 31,000 crore while Jharkhand government waives off loans of 1.91 lakh farmers, might have immediate returns but future implications could be averse.
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HDFC Bank Shares Slide 4% Amid CASA Ratio Decline in Q1 Update
After weeks of being on a positive run, given an increased weightage for the stock on the MSCI, shares of HDFC Bank Ltd went down over 4 on Friday after it hit a low of INR 1,653.70 on the BSE.
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Zomato Rehires Rahul Ganjoo & Pradyot Ghate: Transforming the Dining, Lifestyle and Entertainment Business
Zomato rehired former executives Rahul Ganjoo and Pradyot Ghate to innovate its Going-Out business. With plans to acquire Paytm's movie ticketing arm, Zomato aims to diversify and grow beyond food delivery. They are now focusing on dining, lifestyle and entertainment.
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Raymond Limited to Demerge Real Estate Unit: Shareholders to get 1:1 Raymond Realty Shares
Raymond Limited announced the demerger of its real estate unit into Raymond Realty Limited. By this, shareholders are offered shares in the ratio of 1:1. Raymond Realty will list on BSE and NSE.
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Gold Prices May Drop to INR 70,000 Soon: Long-Term Outlook Positive, Says Augmont Expert Sachin Kothari
Sachin Kothari of Augmont predicts that gold prices may stabilize or decline to INR 70,000 in the near term. He expects new highs by late 2024. He advises to keep a balanced portfolio by investing in gold, silver and various forms of gold assets.
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SEBI Clears IPO Proposals for SoftBank’s Portfolio Firms FirstCry and Unicommerce
SEBI has approved IPO proposals for FirstCry and Unicommerce, SoftBank's portfolio firms. FirstCry has plans to mop up USD 218 million through the issuance of fresh shares, while another USD 500 million will be mobilised through primary and secondary sales of shares. The IPO of Unicommerce will entirely be an OFS by existing investors to garner ₹480-490 crore.
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Larsen & Toubro (L&T) Receives ‘BBB+’ Rating from Fitch with Stable Outlook
Fitch Ratings has affirmed the issuer default rating of Larsen & Toubro (L&T) at 'BBB+' with a stable outlook, driven by the Company's strong competitive position as one of the largest global engineering and construction companies, higher-than-peer profitability, and good revenue visibility.
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11% rainfall deficit in June, adequate July rainfall likely to drop food inflation
The increasing prices of vegetables has been the driver for increasing food inflation in India. With the deficit of rainfall in June, all eyes hope for adequate rainfall in July for stabilisation of prices.
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Indian Social Media App Koo Shuts Down: The Indian Bird Flies Away Amid Funding Challenges and Merger Failures
Koo which is an Indian social media app and rival to X (formerly Twitter) is shutting down. This is due to failed merger talks and funding challenges. Founders Aprameya Radhakrishna and Mayank Bidawatka expressed their gratitude. They talked about Koo's achievements and future aspirations.
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Kotak Mahindra Bank Pulled in Adani-Hindenburg Controversy: Check the Saga of Accusations & Clarifications
On July 2, 2024, Kotak Mahindra Bank was embroiled in a controversy involving Hindenburg Research and the Adani Group. It was accused of aiding in shorting Adani stocks. Kotak Mahindra Bank learned of the connection only through SEBI's notice and denies any direct involvement.
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Sony Eyes India to Become its 3rd Largest Market Globally Very Soon
The Japanese consumer electronics giant Sony expects India to outperform its home market and become the third-largest market globally in the next couple of years, with revenues from India reaching INR 10,000 crore.
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Economists advise FM Sitharaman on Private consumption, Job creation and a lot more
Economists ask Sitharaman to focus more on Capital Expenditure, Fiscal Prudence, Inflation along with several other demands during their pre-budget consultation meeting.
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Patanjali Foods shall Acquire Non-Food Business of Patanjali Ayurved for INR 1,100 Crore
Patanjali Foods will acquire Patanjali Ayurved's non-food business for INR 1,100 crore. By this, they will expand into hair, skin, dental and home care products. The deal awaits necessary approvals and includes a licensing agreement for Patanjali Ayurved's intellectual properties.
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Mauritius, once India’s largest foreign investor, now faces economic uncertainties
Mauritius is again at the crossroads of economic decision; the country’s off-shore business seems to be unreliable now as the OECD (the Organisation for Economic Cooperation and Development) cracks down on its double taxation agreements.
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Odisha Set To Launch INR 1 Lakh Crore Railway Projects: Rails for the Developments Ahead
Railway Minister Ashwini Vaishnaw announced INR 1 lakh crore for new railway projects in Odisha. By this, he aimed to accelerate the development in the railway sector. With increased budget allocations and plans for special trains and technology hubs, the BJP envisions significant growth for the state in the coming years.
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Does it rain money? India’s connection between economy and monsoon
The India Meteorological Department (IMD) predicts above-average rainfall in 2024 monsoon. Higher rainfall is expected to positively affect the economy and ease the rising food inflation in the country
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ITC Achieves 12% Surge in FMCG Sales: Check how this Second Largest Packaged Food Company Reached INR 32,500 Crore in FY24
ITC reported a 12% increase in FMCG consumer spending. It achieved INR 32,500 crore in FY24 due to this growth. With strong performances from brands like Aashirvaad and Sunfeast, ITC has become India's second-largest listed packaged foods company. Despite inflation, ITC's strategy boosted its revenue and profit.
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Korea-US-Japan Business Dialogue in Washington: To Achieve Better Economic Cooperation
Korea, United States and Japanese business communities have initiated a formal trilateral discussion for cooperation in the sectors of AI, clean energy, semiconductor supply chains and export controls.
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SBI Raises INR 10,000 Crores via Infrastructure Bonds at 7.36% Coupon, Oversubscribed by Four Times
On June 26, 2024, State Bank of India raised INR 10,000 crore through infrastructure bonds at 7.36% interest. This bond was oversubscribed four times. The AAA-rated bonds attracted diverse investor participation. Proceeds will fund long-term infrastructure and housing projects.
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Nephro Care Launched its IPO: Check Why Is It Fully Subscribed Just Within Hours of Opening
Nephro Care India Limited launched its IPO to fund a new hospital in Kolkata. It saw a huge demand on the D-Street. The IPO was subscribed 9.17 times on the first day. The Grey Market Premium was of INR 100. Investors are highly confident for this IPO, which shows a strong listing.
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Reliance Industries Share Price Hits Record High: RIL Stock Surges 6.50% in Three Days
Reliance Industries' share price surged 6.50% in three days. They reached a lifetime high of INR 3,075. The rise is driven by anticipated growth in petrochemical, textile, telecom and retail segments. Experts advise existing investors to hold and new investors to buy on dips around INR 2,930 with a stop loss at INR 2,850.
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Major infrastructure projects have a greater multiplier effect says SBI Chairman Mr. Khara
In an NDTV Profit exclusive interview, SBI chairman Mr. Dinesh Khara stated that major infrastructure projects have a greater multiplier effect. He also stated the increasing need for services catering the demand for wind energy and ports.
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Top Cement Stocks Surge up to 15%: Look at the Key Factors Driving the Move
On June 26, 2024, Cement stocks surged up to 15%. This was mainly due to a stable government and optimism around infrastructure development. Key gainers included India Cements and UltraTech. Analysts expect steady demand growth and gradual price recovery.
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Is Titan going For 1100% Dividend Pay-out: Highest since 2010
Titan Company Limited, which is a Tata Group company, was in spotlight on the D-Street. The main reason for this is the record date for its final INR 11 per share dividend that approaches on June 27, 2024. Investors must buy Titan shares by June 26, 2024 to be eligible for this dividend.
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Akiko Global services launches IPO: Check IPO dates, price band and other details
Akiko Global Services launched an IPO on June 25, Tuesday. The price band is INR 73 TO INR 77. The company aspires to raise INR 23.11 crores with a lot size of 1,600 shares. The IPO was launched on June 25 and will close on June 27.
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Stanley Lifestyles’ INR 537-Crore IPO to Close Today: Should you apply or not?
Stanley Lifestyles' INR 537-crore IPO is open until June 25,2024. It is recommended by various big analysts due to industry growth and strong brand recognition. Stanley Lifestyles plans to use these funds for expansion and renovations. Allotment is on June 26, 2024 with listing on June 28, 2024.
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Karnataka to Achieve $1 Trillion Economy by 2032: Innovation and Growth Unite
While speaking to the convention at the preview of the upcoming Global Investor Meet (GIM) - "Invest Karnataka 2025," expected in February 2025, he stated that the state had been growing at a steady growth rate of 9.3%
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Tata Steel, UK Workers Announce First Strike In 40 Years: Job Cuts, Overtime And Know What More
From July 8, 2024, 1,500 Tata Steel workers in Wales will strike indefinitely. This strike will be for the job cuts and blast furnace closures. Unite the Union supports the strike. Tata Steel plans a GBP 1.25-billion investment in eco-friendly technology.
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SEBI Probes Quant Mutual Fund For Alleged Front-Running: Should The Investors Be Concerned?
Quant Mutual Fund, which is the AMC in India, has received a probe from SEBI for alleged front running. QMF has committed for full cooperation and emphasized transparency. Despite concerns, Quant’s main aim is to reassure its 79 lakh investors amidst the ongoing probe.
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Vedanta Limited to raise INR 1,000 Crore through Private Placement of NCDs
On June 20, 2024, board of Vedanta Limited approved of raising INR 1,000 crore via NCDs. Issued on a private basis, these debentures aim to strengthen its financial resources for its expansion. This move is followed by a reduction in promoter’s stake and signals confidence in its future growth.
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Xerox Partners with TCS for Cloud and AI Transformation: Check what happens next
Xerox partners with TCS to revolutionize IT through transforming cloud and AI. They aim to streamline operations and client experiences. TCS will migrate legacy systems to Azure. It will implement digital ERP and integrate generative AI. This marks a strategic step into digital transformation.
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Sun Pharma’s Dadra Facility Receives USFDA Warning Letter for cGMP Violations: What Happens Next?
Sun Pharmaceuticals Limited received a USFDA warning letter for its Dadra facility. This was due to cGMP violations following an inspection in December 2023. Despite all the violations and issues Sun Pharma has implemented corrective measures. USFDA will release the letter's contents soon.
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Aatmanirbhar Bharat’s Aatmanirbhar Funds: What should you consider before investing in Manufacturing Mutual Funds?
Manufacturing mutual funds are growing as an attractive investment option. All these funds come with high risk and long-term investment goals. They offer diversification, strong performance and growth supported by government initiatives.
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Infosys incentivizes relocation to Hubballi Campus by paying up to 8 Lakhs to its employees
Band 4 to 7 employees at Infosys are to receive benefits of 8 lakh rupees to relocate from Mumbai or Bangalore to Hubballi, Karnataka. Lower band employees can also get 1.25 lakh to relocate while being able to continue their ongoing projects from the Karnataka office.
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PM Narendra Modi released 17th installment of PM Kisan Scheme on Tuesday
PM Narendra Modi announced the most recent instalment of the PM-KISAN initiative on Tuesday in Varanasi constituency. More than 110 million farmers have been helped through distribution of more than INR 3.04 trillion so far.
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NBCC’s Share Price Up by 100% in 2024: Company Wins Orders Worth INR 1500 Crore in Two Weeks
NBCC Limited, which is a state-run construction firm has secured new orders worth INR 1500 crore. These orders determine strong growth in infrastructure. Despite receiving mixed ratings from the analysts, NBCC's stock has surged by 97% in 2024. This reflects investor’s confidence in NBCC.
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Staggering 5800% rise in Silver imports from UAE raise the alarms
India’s import of silver from United Arab Emirates (UAE) rises 60 times in the last financial year calls in for a monitoring mechanism that could track import volumes and values to ensure a better policy solution.
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Invest in India’s Industrial Growth: Check out the list of all Manufacturing Mutual Funds in India
Manufacturing mutual funds in India have attracted a lot of investors. Key funds like Axis India Manufacturing, ICICI Prudential, HDFC Manufacturing Fund, Kotak MIIF and many more have focused on various manufacturing companies in India.
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Adani Port expansion gets approval to reach 514 million tons capacity
The central government has approved the expansion of Gautam Adani-led Adani Ports & Special Economic Zone Ltd (APSEZ). The port is the largest commercial Indian port. The aim is to reach 514 million tons.
Read more![G7 moves forward with the India-Middle East-Europe Economic Corridor [IMEC]](https://globalmoneytimes.com/wp-content/uploads/2024/06/IMEC-Corridor-300x169.webp)
G7 moves forward with the India-Middle East-Europe Economic Corridor [IMEC]
G7 provides a stamp of approval over the India-Middle East-Europe Economic Corridor [IMEC] proposal initiated by India in the recently held G20 summit. IMEC is being seen as big economic win for India to China's BELT Road Initiative
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Trump or Biden : Economy, Jobs, Inflations, Tax! Lets understand who stands where
In the 2024 US election, voters prioritize the economy. The concerns are over inflation and high prices. President Biden highlights low unemployment and high growth. Whereas, former President Trump emphasizes on past inflation control, proposing tariffs and cutting the prices and taxes.
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PM Modi in Italy: Check Out the World Leaders he met at the G7 Summit
On June 14, 2024, PM Modi had productive meetings with world leaders at the G7 Summit. They discussed various global issues and strengthened India's bilateral relations with Germany, Japan, Italy, Canada, the USA, Jordan, France, the UK, Brazil, Turkey and the UAE.
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Suzlon Wins 103.95 MW Wind Project in Rajasthan: To power 85,000 households
Suzlon Group secured a 103.95 MW wind power project from AMPIN Energy Transition. The project in Rajasthan will utilize 33 wind turbines and provide power to 85,000 households. Suzlon sees this as a step towards wider adoption of hybrid renewable energy projects in India.
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India’s IIP slows down to 4.9% for March 2024: Impacted by mining industry
The India's Index of Industrial Production (IIP) has been recorded to be 4.9% for March 2024. Compared to previous data, the fall has been attributed to the slow growth in mining sector.
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Deepika Padukone’s 82°E Raises INR 50 Crore for Expansion
Deepika Padukone's personal care brand, 82°E, is all set to raise INR 50 crore (around USD 6 million). They aim to expand their market presence. This funding will increase the stakes of Deepika and her father, Prakash Padukone.
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Upcoming Dividend, Bonus and Stock Split: Which Companies have record dates set for this week?
Many companies like L&T Technology Services, Bajaj Auto, Kamdhenu Ventures, Tata Technologies, Cheviot, Adani Ports, and ACC have important financial updates this week. These updates include record dates for buyback, dividends and bonus issues.
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2800% Surge In The Share Price of This Multi-Bagger Defence Stock: Check Why?
Avantel, a small-cap defence stock, had a 2800% surge in its share price in 5 years. This increase in their share price was seen due to political development, various government initiatives and the far vision of the company.
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SBI Eyes $3 Billion Debt Raise in FY24-25
State Bank of India (SBI) seeks to raise up to $3 billion through debt issuance this fiscal year. The funds will be availed in tranches via public offerings or private placements of foreign currency-denominated notes.
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Irregular rainfall and heat waves cause rise in inflation rate of May, 2024
Inflation rates are anticipated to rise to 4.86%. Irregular rainfall and extreme heat waves are the reasons. Interest rate is expected to change in Q4 2024.
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Rupee Opens Lower Despite FII Flows, Eyes 82.90-83.70 Range against USD
The Indian rupee opened weaker against the US dollar on June 11th due to weak equities and a strong greenback. However, positive RBI outlook and FII buying could limit depreciation. Analysts predict a trading range of 82.90-83.70 for the rupee.
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Modi’s New Cabinet Approves Construction of 3 Crore Rural, Urban Houses: New Cabinet, New Houses, New India
On June 10, 2024, PM Modi's new Cabinet decided to build 3 crore houses in rural and urban areas under PMAY. They aim to provide homes for everyone with basic amenities, boosting job creation and economic growth. This supports the government's goal of 'Housing for All' by 2024
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Inflows in Equity Mutual Funds Grow by INR 34,697 Crore in May: AMFI
As per AMFI, in May 2024, equity mutual funds hit a record high with ₹34,697 crore in inflows. This marked an 83.42% rise from April. The increase was supported by increased SIP investments and interest in specialized funds, shows strong investors confidence ..
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Surge in Shares of KCP and Heritage Foods as Chandrababu Naidu to Become Andhra’s New CM
Shares of KCP Ltd and Heritage Foods Ltd surged as Chandrababu Naidu's return as Andhra Pradesh's Chief Minister. This sparked optimism among the investors, driving stock prices up by 13.43% and 10%, respectively
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Repo Rate Unchanged at 6.5%, Raises FY25 GDP Growth Forecast: RBI brings AI-Powered Policy
On June 7, 2024, RBI announced its bi-monthly monetary policy, keeping the repo rate at 6.5% for the eighth time. GDP growth forecast for FY25 was raised to 7.2%, and inflation estimates were retained at 4.5%
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Viral Honest Review Slams Mamaearth Products, CEO Responds to Save her Brand
A woman's scathing online review of Mamaearth products goes viral, prompting a response from the company's CEO. The CEO defends the brand's quality while the woman claims her experience is shared by others. Social media users are divided, with some supporting Mamaearth and others siding with the reviewer
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Sensex Surges 700 Points, Nifty Reaches 22,820: FMCG and Pharma Down, PSU Banks and Realty Gains
Sensex up at 74,876.65 & Nifty 0.52% higher at 22,738.70, due to global optimism and expectations of Fed rate cuts. Sectoral indices showed mixed performance, with most sectors in the green. Global stocks rallied, anticipating the central bank’s actions. Despite political concerns, investor confidence is high
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Nazara Technologies Acquires SoapCentral.com, Stock Price Soars 19% in Just Two Days
Absolute Sports, which is a subsidiary of Nazara Technologies, has acquired a US entertainment site SoapCentral.com for USD 1.4 million. With this move, Absolute Sports entered into entertainment publishing, complementing its sports media operations. Following this announcement, Nazara Tech's stock surged by 19%
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Sensex and Nifty Rebound, Investors Gain INR 13 Lakh Crore in a Day: The Bulls of Dalal Street are Back
On June 5, 2024, the Indian stock market rebounded strongly, with the Sensex and Nifty surging over 3%. This recovery, following election results indicating a likely BJP-led NDA government. There was an increase in market capitalization by INR 13 lakh crore.
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Economists Predict Higher Growth for India but Emphasize Need for Reforms Post-Election
Economists Sonal Varma (Nomura) and Pranjul Bhandari (HSBC) see Higher Growth but urge reforms. Varma cites rural spending & stable government as key. Both agree reforms (land, labour) are crucial. Bhandari (HSBC) highlights positive signs...
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Rising Costs and Weak Demand Threaten European Firms: BCG Report Highlights Vulnerability
Rising costs and weak demand threaten 1 in 5 European firms, with Germany and Austria most vulnerable (BCG report). Real estate, tech, and retail struggle as interest rates climb and competition intensifies. Debt extensions offer temporary relief, but restructuring remains likely
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Nifty, Bank Nifty & Sensex hit an all time high after Exit Polls’ Optimism: Only Pullers in the Green Win
On June 3, 2024, the Indian stock market soared as exit polls were optimistic for NDA. All the indices hit an all-time high where, Sensex rose to 76,468 and Nifty 50 to 23,263. This rise was driven by gains in financial services, oil and gas.
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5 Equity Shares for 1, Stock Split and Dividend: Premier Quarter for Premier Explosives
Premier Explosives Ltd. announced stock split in the ratio of 5:1 and will also recommend a dividend of INR 2.5 per share. The company reported a huge 180.08% increase in net profit and a rise of 65.88% in sales for Q4 of 2024.
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Nifty and Sensex are waiting for Aggressive Bull Run – Huge Impact of Lok Sabha Results
Modi’s win could result in markets soaring, but a loss could trigger a 17 percent downfall, as predicted by several analysts and brokerage firms. Previously, the performance of Indian stock markets have been directly influenced by the political climate of the country
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Jio Infocomm May soon go for IPO – Seeking $100 B Valuation – INR 1200/Share – Reports
Jio, which was launched in 2016 and gained a huge subscriber base thanks to its pricing strategy, is reportedly delaying plans to go public in 2020 as 13 foreign investors invest about $57 billion to $64 billion
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Beacon Trusteeship’s IPO shall open on May 28, Check all Details of IPO Here
The Beacon Trusteeship IPO shall open on May 28, 2024 and close on May 30, 2024. The price band is INR 57 to INR 60 while GMP is INR 65. According to CoKaCo, the financial parameters of the company reflect the positive financial condition of the company.
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Inflation drops to a 3-year low in Canada; cut in BOC interest rates likely
The inflation rate in Canada has dropped to a three-year low at 2.7 %. It indicates that interest rate cuts will be made by the Bank of Canada in June. It could impact economic strategies worldwide.
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France Accelerating Startup funding, Plans to revive European Capital Market union
France wants to integrate the fragmented EU markets to boost the venture capital market in the EU. This and other important points were discussed at the VivaTech Fair for startup held in Paris last week
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RBI’s Historic INR 2.1 Lakh Crore Dividend Transfer – What does it mean for India’s Economy?
Through the dividend from RBI, Government can increase spending without needing to borrow more, which can help stimulate economic growth and create jobs
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Satya Nadella, LinkedIn and other 8 fined by MCA for violating SBO norms
Owing to non-compliance of Significant Beneficial Ownership Rules, Sec 90 of the Indian Companies Act, 2013, MCA fines Satya Nadella, LinkedIn India, Linkedin CEO Ryan Roslansky and 8 others for INR 27,10,800.
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Bain Capital and Blackstone, AID, GIC planning to buy Controlling Stake in the Haldiram’s
The country’s one of the most popular FMCG brands, Haldiram’s, was started by Mr. Ganga Bishan Agarwal (Haldiram Ji) nearly 8 decades ago in Bikaner.
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India to become $4 trillion economy in FY25: Sanjeev Sanyal
A growth rate of 7% when compounded annually is sufficient for the economy’s target. This would also ensure the generation of jobs and revenue for the government.
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More companies to pour FDI to India, China recedes: UN Report
Mr Hamid Rashid, Chief of UN DESA, discussed India’s FDI position while addressing reporters on the mid-year update of the World Economic Situation and Prospects 2024.
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Vijay Mallya condoles death of Anita Goyal, wife of Jet Airways founder
He further commented on the fate of Jet Airways in his X (Twitter) post, saying, “ I am also sad that Naresh is enduring what he is given in his creation of Jet..."
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Housing emergency in Scotland: Strong leadership required to tackle it
The chief executive, Ms Jane Wood, will address the guests, including the Scotland Housing Minister, Mr Paul Mclennen, that “the government must move forward together with the housebuilding industry to deliver ‘clear actions’
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Amendment in RBI Directions for Margin Management in Derivatives Trade
As per the RBI Circular dated 8th May 2024, it outlines new rules that immediately apply to certain banks. These rules allow these banks to handle margin money for derivative contracts.
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India’s GST Collections Surge to Record INR 2 Lac Cr in April 2024
According to the latest data, Maharashtra collected the highest GST of INR 37,671 Cr in April 2024, followed by Karnataka (INR 15,978 Cr), Gujarat (INR 13,301 Cr), Uttar Pradesh (INR 12,290 Cr) and Tamil Nadu (INR 12,210 Cr)
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Lawsuit Filed Against Microsoft and OpenAI Over Alleged Misuse of Newspapers’ Content
The Eight newspapers owned by investment firm Alden Global Capital's MediaNews Group say that the companies illegally used millions of their articles to train AI products, including Microsoft's Copilot and OpenAI's ChatGPT, the lawsuit says
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PharmEasy Secures USD 216 Million Funding Led by MEMG Amid Valuation Drop
The board of API Holdings i.e. PharmEasy, passed a special resolution to allot 18,63,74,897 cumulative convertible preference shares (CCPS) at an issue price of INR 96.8 each to raise INR 1,804 Cr, according to regulatory filing
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Tata Sons Bolsters Stake in Tata Play, Eyeing Strategic Shift
With Temasek's exit, Tata Play now becomes a 70:30 joint venture between Tata Sons and Walt Disney. Disney's interest in the existing Tata Play stems from it being considered a non-core business for the American entertainment giant
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Blackstone Snags Hipgnosis in USD 1.57 Billion Music Rights Deal
Following the news of the acquisition interest, the share price of Hipgnosis soared 2.7%, reaching an all-time high of GBP 1.06 in early trading. Hipgnosis Chairman Robert Naylor expressed satisfaction at the increased premium offered by Blackstone.
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Ola Cabs CEO Resigns Amid Impending Restructuring: IPO Plans in the Spotlight
The announcement comes amid Ola Cabs' preliminary discussions with investment banks regarding a possible initial public offering (IPO). Co-founder Bhavesh Aggarwal is temporarily overseeing day-to-day operations.
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Birlasoft’s Profits Soar: Company Reports 60.7% Jump in Net Profit
Shares of BirlaSoft rose 0.22% to INR 675.80 on the BSE on Monday, while the Sensex closed 1.28% higher at INR 74,671.28. Quarterly results were announced after the market close
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Prosus-backed PayU Invests USD 5 Million in BRISKPE Seed Round
BRISKPE is a cross-border payments platform based in Mumbai. Founded in 2023, the company is primarily focused on providing solutions to Micro, Small and Medium Enterprises (MSME)
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YouTube Shorts vs. TikTok: Battle of Short-Form Video Platforms Intensifies in US
With TikTok's future uncertain, there is always a possibility that new players will enter the market. Whether it's through legal maneuvering or organic growth, social media is ripe for change
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Zydus Lifesciences Receives FDA Approval for Tretinoin Cream
However, earlier this week, the company encountered regulatory challenges when its injectable manufacturing site in Jarod, near Vadodara, Gujarat, received 10 observations from the US health regulator post-inspection
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IndiGo Orders Wide-Body Aircraft, Stock Hits Record High
With a market share of more than 60%, the carrier is looking to expand into international markets. The carrier has launched flights to Africa, Western Asia and Southeast Asia, as well as codeshare agreements with Turkish Airlines and KLM for the European market
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Tata Steel UK Announces Closure of Blast Furnaces in Transition to Greener Steelmaking
Tata Steel intends to place the order for the electric arc furnace equipment in September and begin site preparation work in December this year. Construction of the project is scheduled to begin in August 2025
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Tech Mahindra Shares Surge 12% Following Q4 FY24 Earnings Report
The Board of Tech Mahindra recommended a final dividend of INR 28/- per equity share of face value INR 5/- each for the financial year ending March 31, 2024
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Nestle India Surpasses Expectations with Robust Q4 Performance
"I am pleased to share that despite the challenges posed by rising food inflation and volatile commodity prices, we have achieved double-digit growth." Said CMD of Nestle India
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US FTC Votes to Ban Majority of Noncompete Agreements, Citing Worker Freedom Concerns
A non-compete agreement is a legal arrangement between an employee and his or her employer whereby the employee refrains from entering into direct competition with his or her employer in the future
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WhatsApp Developing In-App Dialler for Voice Calls, To enable call to Unsaved Numbers
By eliminating the need to save contacts for one-off calls, this new feature is expected to streamline the user experience on WhatsApp, making it more efficient and user-friendly.
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Kotak Mahindra Bank Faces Steep Decline Following RBI Directive
The share price of the Kotak Mahindra Bank went down by 10.73% on Thursday closing following the directive. This sharp fall has led to a huge loss in market capitalisation, with the bank incurring a loss of INR 30,000 Cr
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Oracle Financial Services Rewards Shareholders with the Highest Dividend of INR 240 Per Share
Over the last 12 months, the stock is up a remarkable 120%, showing that OFSS is one of the best-performing stocks. The company is a world leader in providing software products
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Dollar Regains, Euro and Sterling Dip, Yen closed for 155 per Dollar
While the Dollar regained momentum, it approached a new 34-year high against the yen at 154.98. Japanese officials, concerned about excessive yen depreciation, issued warnings..
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Tesla Stocks Surge Following Q1 Earnings Report | To Launch Cheaper Cars
Bank of America maintained its price target at USD 220 per share, indicating a potential upside of more than 50% relative to the previous day's closing price
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NHPC Divests Stake in NHPTL through Supplementary JV Agreement
Under the agreement terms, NHPC will sell 1,31,63,750 shares to PowerGrid Corporation of India Ltd (PGCIL) at a notional total consideration of INR 1. PGCIL, an existing promoter of NHPTL
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PayU Receives RBI’s In-Principle Nod to Operate as Payment Aggregator
PayU Payments powered by Prosus receive in-principle approval from RBI with an emphasis on compliance and governance. It works as a payment gateway, offers buy now pay later services, and competes with Razorpay and PhonePe
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RBI Proposes Tighter Regulations for Non-Bank PoS Providers
The proposed rules attempt to bridge the gap between the rules governing online and offline payment aggregators. While these rules focused on online transactions, the new draft aims to create a harmonised framework for both sets of service providers
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Hindalco Shares Stage Remarkable Comeback, Surpassing 2024 Losses
Hindalco Industries is currently trading at INR 616.15, marking a rise of 1.20% by the end of Thursday. In the last month, the stock has given investors a solid return of more than 15%
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India Witnesses Surge in Demat Accounts as Stock Market Continues to Soar
CDSL had more than 11.56 Cr demat accounts as of March 31, 2024, while NSDL had more than 3.57 Cr demat accounts out of a total of 15.13 Cr demat accounts
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NHAI Aims to Monetize 2,741 KM of National Highways in FY25 Through ToT and InvIT
NHAI aims to raise INR 45,000 Cr by monetizing 33 projects spanning 2,741 KM. Methods with attractive opportunities for investors include TOT and InvIT but the 3rd method of monetisation i.e. Toll Securitisation has also been by the NHAI previously
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Paytm Receives Green Light from NPCI to Shift Users to New PSP Banks
Following the receipt of this NPCI permission, Paytm has quickly started the migration of its users to Payment Service Provider (PSP) banks’ handles
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Jio Financial Services Announces Joint Venture with BlackRock: Shares went up by 5%
Jio Financial Services has consistently delivered positive monthly returns from November last year to March this year and its shares saw significant gain, with the scrip trading ..
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RBI Imposes Restrictions on Sarvodaya Co-operative Bank and National Urban Co-operative Bank
RBI has capped the withdrawals at INR 10,000 for customers of National Urban Co-operative Bank Limited and the withdrawals of INR 15,000 from the account of Sarvodaya Co-operative Bank due to their deteriorating financial health
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Reliance Infrastructure’s Mumbai Metro Debt Woes Resolved, Maharashtra Government Set to Acquire Stake
The Maharashtra State cabinet had previously approved the purchase of the company's 74% stake in Mumbai Metro project, valuing it at INR 4,000 Cr.
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Meesho Eyes USD 500-650 Million Funding Round, Meets Interest from VC Giants
The current valuation of Meesho is USD 3.9 Billion, down 20% from the previous valuation of USD 4.9 Billion in 2021, early backers including Venture Highway and Meta are expected to reduce their stake as part of the funding
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Edelweiss Alternatives Completes Acquisition of L&T Infrastructure Development Projects
The sale of LTIDPL aligns with L&T's strategic objective of divesting non-core businesses to optimize its portfolio. By reducing exposure to asset-heavy developmental projects, L&T aims to enhance its return on equity
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NCLAT Rejects Plea for Insolvency Against Parsvnath Landmark Developers
Rejection was made by the NCLT, followed by NCLAT, on grounds of not meeting the criteria given under section 7 of the IBC, IBC requires to have at least 100 allottees or 10% of total homebuyers whereas the petitioners were only 4
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Calcutta HC Restrains HUL from Using ‘Glow & Handsome’ Mark
The HC considered Emami to be the first company to create anti-blackness products for men and promoted its "Fair and Handsome" product line in October 2005, before HUL did the same
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Elon Musk Confirms Visit to India, Excited to Meet Prime Minister Modi
Elon Musk has now confirmed his India Visit on his self-owned Social Media Platform X, Musk has expressed his eagerness to meet Prime Minister Narendra Modi
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Indri-Trini: India’s Own Single Malt Whisky Emerges as World’s Fastest-Growing Liquor
The Awards and Recognition of the company include: ‘Best Indian Single Malt’, 'The World Whiskey Awards at the International Whiskey Competition', 'Asian Whiskey of the Year' and so on
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SEBI May Grant Exemptions to PSBs and CPSEs for Meeting Public Shareholding Norms
At present, the government stake in five public sector banks, namely Indian Overseas Bank, UCO Bank, Central Bank of India, Punjab & Sind Bank and Bank of Maharashtra is more than 75%
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Ashneer Grover Ventures into Fintech Again with ZeroPe: A Medical Loan App
The New Venture ZeroPe is the Brainchild of Ashneer’s company ‘Third Unicorn’ which earlier launched a fantasy gaming app CrickPe giving competition to players like Dream 11 and MPL
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Sun Pharma’s Dadra Facility Classified as Official Action Indicated by USFDA
Inspection of Dadra Facility by USFDA was initiated on 4th December 2023 and concluded on 15th December 2023. Following the news, Sun Pharma’s shares went down by 3% on the BSE
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Vodafone Idea Announces INR 18,000 Crore Follow-On Public Offer
The company recently raised INR 2075 Cr through the issuance of preferential shares to one of its promoter entities, Oriana Investments Private Limited.
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Muthoot Microfin Reports Impressive Growth in Q4 FY24
The company's collection efficiency (CE) for FY24 stood at an impressive 98.4%, marking a significant improvement of 260 basis points (BPS) from the previous financial year
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Indian Real Estate Market Witnesses Remarkable Growth, Predicts Trillion-Dollar Industry by 2030
The Forecast claims that more than 531,000 units will be produced in 2024, which is several times more than the 435,000 units finished in the last year
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Aman Gupta’s Boat in Hot Water: Alleged Data Breach Sparks Concerns Over User Privacy
Allegedly, a database containing details of 7.5 million registered users of the Boat had surfaced online and was offered for sale at a nominal price and the leaked data includes users' names, phone numbers, email addresses and customer identification numbers.
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Record-Breaking Year for Automobiles: India Sees Unprecedented Surge in Vehicle Sales
Despite challenges, the automotive sector demonstrates resilience, with three-wheelers witnessing a remarkable 48.83% increase in sales, followed by two-wheelers at 9.3%.
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Godrej Properties Sprints to New High on Strong Sales Performance
Post announcement, Godrej Properties shares continued to rise and bounce as they hit an all-time high of INR 2,382 per share, more than the 0.75% rise posted by the flagship S&P BSE Sensex
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Go First Granted Another 60-Day Extension for Insolvency Resolution by NCLT
The CoC comprising institutions like the Central Bank of India, Bank of Baroda, and IDBI Bank supported the extension in its meeting on March 29th
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IRDAI Expresses Reservations Over IndusInd International Holdings’ Bid for Reliance Capital Acquisition
The IRDAI has also highlighted concerns regarding exceeding the foreign direct investment (FDI) limit in financially distressed Reliance Capital.
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RBI Keeps Repo Rate Unchanged at 6.5% Amid Robust Growth
The Reserve Bank of India (RBI), on Friday 5th April 2024 announced that it would maintain the key policy repo rate at 6.5% marking the 7th consecutive time
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Indian Cricketer Shreyas Iyer Joins Healthtech Platform Curelo as Investor
Before this round, Curelo had raised USD 100K from IIMA Ventures. The startup boasts of significant revenue growth, with revenues seeing an increase of over 25 times in the last year
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SpiceJet Resumes Flights to Sikkim and Introduces New Routes
Kolkata-Pakyong flight is available daily, departing at 8:05 am and reaching Pakyong at 9:35 am. The return leg takes off from Pakyong at 10:30 am, reaching Kolkata at 12:10 pm
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Uttar Pradesh Real Estate Regulatory Authority [RERA] Introduces New SOP for Registration of Real Estate Agents
Agents are required to create an online profile and following profile creation, agents must undergo rigorous training and certification programs, mandatory prerequisites for registration
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National Stock Exchange (NSE) Awaits SEBI Approval for IPO
The NSE has also clarified that it won't acquire the National Commodities and Derivatives Exchange (NCDEX). Instead, it privately wants to take the route of widening its portfolio of products as new commodity derivatives contracts
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Aurobindo Pharma’s Injectable Facility Receives Observations from US FDA
While Aurobindo Pharma reassured stakeholders about its commitment towards compliance with the US FDA norms, the comments indicate areas that need attention to ensure adherence to the regulatory standards
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Central Government Increases Windfall Tax on Crude Petroleum
This recent hike follows a previous increase in the windfall tax, which was raised to INR 4,900 per tonne from INR 4,600 just a fortnight earlier on March 15, 2024
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FSSAI Directs E-commerce Giants to Halt Misleading Labeling of Beverages
FSSAI is observing corrupt practices where dairy-based drink mixes cereal drink mixes or malt-based beverages are wrongly advertized as "health drinks" or "energy drinks" on e-commerce websites
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Hero MotoCorp Faces INR 605 Cr Demand from Income Tax Department
Hero MotoCorp revealed that it has received assessment orders and demand notices dated 30th March 2024 for six assessment years spanning from FY14 to FY18 and FY20
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Vistara Flight Disruptions: Ministry of Civil Aviation Steps In
Pilots have expressed dissatisfaction with the new contracts and warned that refusing to sign them could lead to exclusion from the merger
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CCI’s Notice to Muthoot Finance for Allegations of Data Misrepresentation
This is not the first time Muthoot Finance has faced regulatory scrutiny. A similar notice issued by the CCI was earlier stayed by the Kerala High Court in September 2023
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PepsiCo to Invest INR 1,266 Cr in New Flavor Manufacturing Facility in Ujjain
The facility in Ujjain will be PepsiCo India's second manufacturing site dedicated to the production of beverage flavours exclusively formulated "in India, for India"
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Cloud and Data Security Startup Rubrik, Inc. Files for IPO: Shares to List in NYSE
Reports suggest the Rubrik may seek to raise between USD 500 million to USD 700 million in its IPO. Details regarding the size and price of Rubrik’s shares will be disclosed in a subsequent filing.
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Maharashtra-Based Supermarket Chain Patel Retail Limited Files Draft Papers to SEBI for IPO
From the proceeds of the IPO INR 60 Cr will be utilized towards repaying certain borrowings, while INR 115 Cr is earmarked for funding working capital requirements
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Apple’s Participation in India’s PLI Scheme Creates Over 1,50,000 Jobs: Report
Around 3,00,000 people have indirectly secured employment through companies benefitting from the PLI scheme marking substantial economic impact.
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Zomato Faces GST Demand Notice of INR 11.27 Cr: Plans to Appeal
The given order seeks INR 23.26, totalling INR 11.27 GST, interest, and penalty. The company has declared that its legal posture is strong and stands behind its decision to challenge the order before the relevant review body.
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This Company is Going to Pay Dividend of INR 15 Per Share: Know More
Market observers noted a positive response to this news, with shares of the company closing 1.81% higher on Thursday at INR 640. Moreover, the stock has seen a notable rise of 24% year-to-date (YTD) and an impressive 125% increase over the past year
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India’s Foreign Exchange Reserves Hit Record High, Climbing for the Fifth Consecutive Week
The RBI managed to add about USD 58 billion to foreign exchange reserves, which is quite impressive, then faced tough times as the foreign exchange reserves took a cumulative hit of USD 71 billion
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Shapoorji Pallonji Group’s Construction Arm Afcons Infrastructure Files DRHP to SEBI for INR 7000 Cr IPO
Expert says, Afcons Infrastructure's upcoming IPO may be valued at INR 19000 Cr to INR 20000 Cr according to their expectations. The promoter entity – Goswami Infratech Pvt. Ltd. – will sell INR 5750 Cr which will come through the Offer-For-Sale (OFS) mechanism
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India Incorporates 1.68 Lac+ Companies in FY24, Highest In February: Shows MCA Data
An unexpected surge in registrations, more than half of which are small businesses with an average paid-up capital of INR 11.72 lakh, indicates the importance of small businesses in building a strong national economy.
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Elon Musk Set to Release xAI’s Chatbot Grok-1.5 to Public Next Week
Earlier this month, Musk filed a lawsuit against OpenAI, the organization he co-founded in 2015 but later left in 2018 along with its CEO Sam Altman
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Anand Rathi Recommends “BUY” ratings for Suzlon Energy and Inox Wind
Anand Rathi expects Suzlon Energy and Inox Wind to grow at a reasonable level in the future and specifically sees FY25 and FY26 as exceptional for these companies, keeping in mind the above estimates of equity returns of 20% to 39%
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Facebook News Tab to Be Discontinued as Meta Shifts Focus Away from News and Politics
Meta had already shut down this feature in the UK, France, and Germany last year. With the imminent closure of Facebook News, users in the US and Australia will no longer have access to this dedicated News tab
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ILO Study Shows India’s Education System Falling Short in Job Preparation
The struggle for employment is particularly acute in urban areas, where joblessness rates surpass those in rural regions. This urban-rural disparity highlights the complex interplay between economic development, education, and employment
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Byju’s EGM Proceeds Despite Legal Hurdles to facilitate the USD 200 million Rights Issue
NCLT refused to stay the EGM, deferring the final decision to 4th April. The NCLT said that although the meeting cannot be stayed, its decisions can be challenged later
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Ambani-Adani Collaborates First Time: Reliance Industries Acquires Stake in Adani Power Project
According to the agreement between Adani Power & Reliance Industries, one unit of the Mahan Thermal Power Plant, with a total capacity of 2800 MW, will be designated as the Captive Unit for Reliance’s usage
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Adani Ports Expands East Coast Presence with Gopalpur Port Acquisition
Adani Ports will acquire, each from Shapoorji Pallonji Group and Orissa Stevedores, 56% and 39%, respectively. The deal was valued at INR 3,080 Cr in a term sheet
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RBI to Investigate Google Play Billing System over reported Violations
Google Play’s billing system allows app developers to sell digital products and content within their Android apps, including one-time products or recurring subscriptions
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Market Buzz: Anil Ambani’s Reliance Power Shares Surge 35% in Eight Sessions
In just eight straight sessions, the share price has soared to INR 27.60 apiece on the NSE, marking a remarkable 35% appreciation. Experts are of the view that the surge is due to a debt reduction plan.
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SRM Contractors Limited Enters the Indian Primary Market with an IPO
The GMP was INR 67 per share, and the company has set a price band of INR 200 to INR 210, and post IPO, the shares are expected to be listed on 3rd April 2024
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India Unveils Electric Vehicle Policy to Attract Global Players Like Tesla
Companies setting up manufacturing facilities in India will have three years to start operations and will have to achieve a localization level of 50% within 5 years
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Paytm Issues FAQs Amid Closure of Paytm Payments Bank Arm
Users can breathe a sigh of relief as Paytm reassures them that essential services such as Paytm QR codes, Soundbox, card machines, and various financial transactions will remain fully functional.
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SEBI Greenlights Same-Day Settlement and Overhauls IPO, FPI, and AIF Rules
the SEBI’s approval for the T+0 settlement comes with certain limitations. It will apply to just 25 stocks and a restricted number of brokers. This move is expected to infuse agility and efficiency
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Paras Healthcare Eyes IPO Worth INR 1,000 Cr for Expansion and Shareholder Exit
Paras Healthcare presently operates seven multi-super speciality hospitals branded as 'Paras Health.' With a total of 1,700 beds across locations in Haryana, Bihar, Rajasthan, Jharkhand, and Jammu & Kashmir
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Reliance Industries to Acquire Paramount Global’s Stake in Viacom18 Media
Reliance will predominantly own the merged entity, Disney will hold a minority stake. The merger comes as Disney seeks to overcome subscriber retention challenges, particularly in the wake of Reliance's disruptive entry into the sports broadcasting
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Indian Startups to Revolutionize Economy and Job Market by adding USD 1 T Economy & 50 M Jobs
Startups have already played a significant role in India's GDP growth, contributing 10-15% between FY16 and FY23. Retail and e-commerce are projected to lead..
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HiLabs Secures USD 39 Million in Series B Financing for AI-Powered Healthcare Solutions
HiLabs journey started from Yale University in USA, with a modest team comprising interns and 2 full-time employees based in India, the startup has grown significantly
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India’s Semiconductor Dream Nears Reality: Tata Group Leads the Charge
The government of India had approved the proposal of 3 semiconductor plants including 2 in Gujarat and 1 in Assam with a total investment of INR 1.26 lacs Cr. Tata Group..
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Government Launches Electric Mobility Promotion Scheme 2024 as a rebranding of FAME-II
Mahendra Nath Pandey, India's Minister of Heavy Industries, highlighted that the scheme, endorsed by the MHI aims to promote the use of electric two-wheelers, three-wheelers, and e-rickshaws
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Inflation Rate Stands at 5.09%, Remains within RBI Tolerance Range for the sixth consecutive month
On March 12th, 2024, the Ministry of Statistics and Programme Implementation unveiled the Consumer Price Index (CPI) data for February revealing that CPI stood at 5.09%. This figure indicates a marginal decrease from January’s 5.10%. The data shows sustained stability in Inflation with the CPI staying within the Reserve Bank of India (RBI) tolerance range […]
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Godrej Properties Acquires Prime Land in Hyderabad’s Kokapet for INR 1,300 Cr
Kokapet offers excellent connectivity to the Rajiv Gandhi International Airport and major social and commercial areas within the city, making it an attractive destination for real estate investment.
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