Wipro’s appointment of Srinivas Pallia as the new CEO has garnered praise from industry experts, signaling a strategic move towards stability amid recent business challenges. Pallia, a seasoned company veteran who previously led Wipro’s Americas I business, brings a wealth of experience to the role. The decision comes as Thierry Delaporte, the current CEO, steps … Read more
Asteroids, ever looming threats, are a constant source of concern due to their potential to collide with celestial bodies like planets or moons. In a recent discovery, NASA has spotted a particularly worrisome asteroid hurtling towards Earth. Measuring a staggering 170 feet, this celestial object is set for a close encounter with our planet, prompting … Read more
In an effort to further enhance user experience and connectivity, WhatsApp is set to introduce an exciting new notification feature for status updates. With this enhancement, users will never miss out on important updates from their contacts, ensuring a more seamless and engaging messaging experience on the platform. The latest WhatsApp beta for Android 2.24.8.13 … Read more
Rajesh Kumar Singh, the secretary in the Department for Promotion of Industry and Internal Trade, has unveiled India’s ambitious plan to attract a minimum of $100 billion in gross foreign direct investment (FDI) annually. This bold objective comes as many investors and multinational corporations are seeking to diversify their investments away from China, presenting India … Read more
The dispute between the International Monetary Fund (IMF) and former CEA Krishnamurthy Subramanian regarding India’s growth prospects has escalated. Subramanian asserted that the Indian economy could achieve an 8% growth rate until 2047, contrasting with the IMF’s stance, which distanced itself from his projections. In response, Subramanian took a swipe at the IMF, alleging consistent … Read more
In the upcoming week, the primary market is set to experience a momentary pause, with no new mainboard IPOs scheduled after the blockbuster debut of Bharti Hexacom’s mega IPO, which marked the dawn of the new fiscal year. However, amidst this brief hiatus, the small and medium enterprises (SMEs) segment will continue to thrive, as … Read more
Vodafone Idea’s board of directors has given the green light to a significant move, approving the allotment of shares valued at ₹2,075 crore to Oriana Investments Pte. Ltd., a key entity within the Aditya Birla Group. Priced at ₹14.87 per share, this preferential allotment demonstrates confidence in the company’s growth prospects, notably exceeding the Friday … Read more
The subscription phase for the Bharti Hexacom IPO, the parent company of the ‘Airtel’ brand, concluded last Friday after a three-day bidding window from April 3rd to 5th, 2024. While retail investors showed subdued interest, the IPO witnessed strong demand from Qualified Institutional Buyers (QIBs) on the final day. Nevertheless, the grey market for Bharti … Read more
Zee Entertainment has announced plans to lay off approximately 15% of its workforce as part of a broader initiative led by MD and CEO Punit Goenka to establish a more streamlined management structure. This move is aimed at reducing costs and achieving targeted objectives, including 8-10% revenue growth and 18-20% Ebitda margins by FY26. The … Read more
Livia Voigt, a Brazilian student, has captured global attention by becoming the youngest billionaire worldwide, as revealed by the latest Forbes Billionaires List of 2024. With a staggering net worth of $1.1 billion at the tender age of 19, Voigt has earned the prestigious title of the world’s youngest billionaire. Remarkably, Voigt’s wealth stems from … Read more
On Friday, U.S. stocks concluded the trading day with gains, bolstered by a robust jobs report that highlighted the ongoing strength of the economy, while also raising speculation about the possibility of a postponement in Federal Reserve interest rate reductions. Across the board, all major sectors of the S&P 500 posted advances, with particular strength … Read more
Chennai-based space technology startup, Agnikul Cosmos, has once more deferred the launch of India’s pioneering semi-cryogenic engine rocket for the second time in a span of two weeks. The decision to cancel the launch was announced without a specified rationale by Agnikul Cosmos. Originally slated for March 22, the highly anticipated debut launch of the … Read more
JSW Energy Limited has successfully raised Rs 5,000 crore through a share sale to institutional investors, including the Abu Dhabi Investment Authority (ADIA), as reported in a regulatory filing on Friday. The company completed its Rs 5,000-crore Qualified Institutions Placement (QIP), aiming to bolster its capital structure and facilitate its ambitious growth strategies. JSW Energy … Read more
Rajesh Exports, a Bangalore-based gold jewelry retailer, has seen its stock value dwindle by almost 70% since its peak last year. Despite this significant decline, the state-owned Life Insurance Corporation of India (LIC) maintains its approximately 10% stake in the company. Over the past year, Rajesh Exports has faced numerous challenges, leading to a sharp … Read more
Gold prices were on course for their third consecutive week of gains on Friday, with anticipation building ahead of the release of highly anticipated U.S. non-farm payrolls data. These gains were fueled by robust inflows into safe-haven assets and the expectation of a downward trajectory in U.S. interest rates throughout the year. At 1214 GMT, … Read more
On Friday, the Indian rupee saw an uptick, supported by increased dollar sales from both foreign and state-run banks, following the Reserve Bank of India’s decision to maintain interest rates for the seventh consecutive meeting. Closing at 83.2950 against the U.S. dollar, the rupee marked a nearly 0.2% rise compared to its previous session’s close … Read more
Following the widespread adoption of cardless cash withdrawal via Unified Payments Interface (UPI) at ATMs, Reserve Bank of India Governor Shaktikanta Das unveiled plans to introduce a similar feature for cash deposit machines (CDMs) during a press conference after the three-day Monetary Policy Committee (MPC) meeting on Friday. Das explained, “Traditionally, cash deposits in CDMs … Read more
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5%, Governor Shaktikanta Das announced on Friday. The MPC also estimated the real GDP growth for FY2025 to be 7%. RBI MPC 2024: Full text of RBI Governor Shaktikanta Das’ statement Earlier this week on April … Read more
Aavas Financiers witnessed an intraday surge of 8% on April 5 following the announcement of robust growth in disbursements and assets under management for the quarter ending March. The non-bank finance company reported a notable 20% year-on-year increase in disbursements, totaling Rs 1,890 crore for the January-March period. Additionally, assets under management surged by 22% … Read more
On April 5 morning, the Sensex and Nifty experienced a marginal decline following the Reserve Bank of India’s decision to maintain the repo rate at 6.5 percent for the seventh consecutive time, in line with expectations. Realty stocks emerged as top performers among rate-sensitive sectors, while autos witnessed a slip. The Sensex was down by … Read more