Rain Industries Ltd. Shares Tumble 10% in Early Wednesday Trading Following Revenue Decline and Net Loss Report for December Quarter. Rain Industries Reports Net Loss of ₹1,078 Crore for December Quarter, Compared to ₹66 Crore Loss in September Quarter; Tax Expenses Double to ₹995 Crore, Impairment Loss of ₹751 Crore Recorded. Rain Industries’ Revenue Slips … Read more
Following an investigation by the income tax department, significant evidence of large-scale tax evasion has been unearthed at Alkem Laboratories, a prominent pharmaceutical major. The income tax department’s probe into Alkem Laboratories, one of the leading players in the pharmaceutical industry, has revealed substantial instances of tax evasion on a significant scale. In a concise … Read more
Asian Paints witnessed a significant downturn in its share price, dropping approximately 4.5% to reach an intraday low of ₹2,847.80 on Monday morning. The sharp decline in Asian Paints’ stock value today coincides with growing apprehension among investors and analysts following the Aditya Birla Group’s foray into the paints sector. CLSA, a global brokerage firm, … Read more
One97 Communications’ Advisory Committee, Formed Post RBI Action, Awaits Deeper Engagement with Company to Address Issues. Paytm’s Stock Hits 5% Upper Circuit, Continuing Previous Week’s Gains as Morgan Stanley Maintains Equal-Weight Rating. At 9:18 am, the stock was trading at Rs 426.60 on NSE. This follows the Reserve Bank of India’s (RBI) directive to the … Read more
Byju Raveendran Addresses Employees, Denies Reports of CEO Ouster as ‘Greatly Exaggerated and Highly Inaccurate. Byju’s CEO Byju Raveendran Reassures Employees Amidst Company Turmoil, Denies Reports of Dismissal in Internal Memo”. Byju Raveendran Reacts to Shareholders’ Unanimous Vote: Emphasizes Adherence to Company Guidelines in Decision-making Process Byju Raveendran Discredits Extraordinary General Meeting (EGM), Deeming it … Read more
Bhandari: Each Bull Market Sees New Leaders, Sectors Dominant in One Cycle May Lag in the Next. Manish Bhandari, CEO of Vallum Capital, Warns of Potential Stock Market Bubble in PSU Shares, Especially Railway Stocks, at PMS AIF WORLD Summit. Bhandari’s Caution: Exercise Vigilance in Railway PSU Stocks Amidst BSE PSU Index’s Doubling to 18761 … Read more
Grasim’s Paint Venture May Not Threaten Asian Paints’ Dominance, but Industry Dynamics Set to Shift with Increased Competition. Grasim Industries has made its much-anticipated debut in the paints sector with the unveiling of its Birla Opus product line. This move is poised to reshape the competitive landscape within the industry as the heat of rivalry … Read more
EPFO Rejection Rate Soars: Climbs from 13% to 34% in 5-Year Span, Reveals Data. Indian Express reports a startling revelation: the Employees’ Provident Fund Organisation (EPFO) has rejected one-third of all claims it received, raising concerns among stakeholders. On the official X handle of EPFO, numerous subscribers have voiced their grievances regarding delays in claim … Read more
As the highly anticipated Mobile World Congress 2024 approaches, the landscape is shifting as major industry titans opt to step back, creating an unprecedented opportunity for smaller players to shine on the global stage. Amidst this transformative backdrop, eyes are eagerly fixed on the imminent product unveilings from tech giants like Google, Honor, Nothing, Xiaomi, … Read more
Since October 2022, NVIDIA’s market valuation has experienced an astounding 560% surge, catapulting it from being less than half the size of the Sensex in May 2023 to now surpassing it. In contrast, the combined market capitalization of the top 30 companies in the country has seen a more modest increase of 30% during the … Read more
According to market sources, Indian Railway Finance Corporation (IRFC) is gearing up to release bonds valued at up to Rs 3,000 crore on February 26. These bonds consist of a base issue worth Rs 500 crore along with a greenshoe option of Rs 2,500 crore, all set to mature in 10 years by February 28, … Read more
Jio Financial Services Ltd has reached a significant milestone as its market capitalization exceeded Rs 2 lakh crore for the first time, driven by a notable 35 percent surge in its share price since the beginning of the year. This surge reflects the growing investor confidence in the company’s prospects. Meanwhile, parent company Reliance Industries … Read more
Byju’s Founder Byju Raveendran, Co-founder Divya Gokulnath, and Brother Riju Ravindran to Abstain from EGM Despite Owning 26% Shares in the Company. Byju’s founder and CEO Byju Raveendran has informed shareholders of the troubled edtech company that neither he nor any other board member will participate in the extraordinary general meeting (EGM) convened on February … Read more
Prime Minister Narendra Modi Reiterates Government’s Commitment to Farmers Following Increase in Sugarcane FRP to ₹340 per Quintal. “Our government is dedicated to fulfilling every resolution concerning the welfare of our farmer brothers and sisters nationwide. In this vein, a historic increase in the price of sugarcane purchase has been sanctioned. This move will benefit … Read more
Enforcement Directorate Urges Bureau of Immigration for Renewed Travel Restrictions in Byju’s FEMA Violation Probe to Safeguard Investor Interests. ED Requests Revised Look-Out Circular Against Byju Raveendran, Founder of Byju’s. The Enforcement Directorate (ED) has reportedly urged the Bureau of Immigration (BOI) to issue a revised look-out circular (LOC) against Byju Raveendran, the founder and … Read more
Juniper Hotels IPO: The price band for the issue, which will close on February 23, has been fixed at Rs 342-360 a share. Juniper Hotels’ Public Issue Sees Subdued Response, 13% Subscription on Day 2. The public issue of Juniper Hotels has garnered a modest response from investors, with only a 13 percent subscription recorded … Read more
According to recent reports, the Securities and Exchange Board of India (SEBI) is investigating the involvement of two well-known Mumbai-based production houses as potential “conduits” in a financial probe. As per sources cited by Moneycontrol, the Securities and Exchange Board of India (SEBI) has reportedly summoned numerous ex-directors of Zee Entertainment Enterprises Ltd (ZEEL) in … Read more
“RBI Paper Counters IMF Warning, Projects India’s General Government Debt to Fall to 73.4% of GDP by 2030-31” In the face of the International Monetary Fund’s cautionary statement suggesting that India’s general government debt could surpass 100% of Gross Domestic Product (GDP) in the medium term, a Reserve Bank of India paper presents a contrasting … Read more
TCS CEO K Krithivasan highlighted the efficiency of video conferencing tools like Zoom and Microsoft Teams but emphasized their oversight of crucial informal conversations and chitchat typical in office environments. During a recent address, TCS CEO K Krithivasan underscored the effectiveness of video conferencing platforms such as Zoom and Microsoft Teams. However, he pointed out … Read more
The report highlights that investment in the economy is consolidating, driven by high public capital expenditure which is attracting private investment. This has led to the setup of additional plants and acquisition of new machinery to address increasing capacity utilization. The Finance Ministry, in its monthly economic review for January, highlighted several factors contributing to … Read more