Business News

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Health insurance cashless claims to be settled in 3-hours: IRDAI

30 May 2024

Indian Economy

RBI's balance sheet grows by 11% to nearly ₹70.5L crore

The Reserve Bank of India (RBI) has reported an 11.08% increase in its balance sheet size for FY2024, reaching ₹70.48 lakh crore as of March 31.

30 May 2024

PhonePe

PhonePe now offers loan for bike, car, home, gold, education

PhonePe, a digital payments firm backed by Walmart, has introduced a range of secured lending products on its platform.

30 May 2024

Cryptocurrency

Today's cryptocurrency prices: Check rates of Bitcoin, Ethereum, Dogecoin, Solana

Bitcoin has lost 0.99% in the last 24 hours, trading at $68,128.43. It is 1.99% down compared to last week.

30 May 2024

Narendra Modi

India set to import wheat after six-year break

India is preparing to restart wheat imports after a six-year break, with the aim of replenishing its dwindling reserves and stabilizing prices that have surged due to three consecutive years of poor harvests.

RBI enforces business restrictions on Edelweiss Group entities: Here's why

The Reserve Bank of India (RBI) has imposed strict business restrictions on two Edelweiss Group entitities, namely ECL Finance Limited (ECL) and Edelweiss Asset Reconstruction Company Limited (EARCL).

29 May 2024

Indian Economy

S&P upgrades India's economic outlook for first time since 2010

S&P Global Ratings has revised its outlook for the Indian economy from 'stable' to 'positive', while maintaining rating at 'BBB-', the lowest investment grade rating.

29 May 2024

OpenAI

OpenAI board member sheds light on CEO Sam Altman's dismissal

Former OpenAI board member, Helen Toner, has publicly detailed the circumstances leading to the dismissal and subsequent rehiring of OpenAI's CEO, Sam Altman.

29 May 2024

Stock Market

Sensex slips to 74,502 points, Nifty settles above 22,700 mark

On Wednesday, the benchmark Sensex and Nifty indices witnessed a fall.

Zerodha MF expands offerings with launch of large-cap, mid-cap ETFs

Zerodha Mutual Fund has introduced two new exchange-traded fund (ETF) schemes in India, called the Zerodha Nifty 100 ETF (ZN100) and Zerodha Nifty Midcap 150 ETF (ZM150).

29 May 2024

Elon Musk

Meta AI chief mocks Musk's xAI recruitment drive on X

Yann LeCun, the head of AI at Meta, has publicly ridiculed Elon Musk on X.

29 May 2024

Indian Government

India considers restrictions on online gaming to tackle addiction

The Indian government is contemplating the introduction of stringent regulations on online gaming, including time and expenditure limits.

29 May 2024

Adani Group

Adani Group increases ownership in Adani Enterprises and Adani Green

The Adani Group, under the leadership of Gautam Adani, has increased its stakes in Adani Enterprises and Adani Green Energy.

29 May 2024

Samsung Electronics

Samsung union announces first-ever strike over demands for higher wages

Samsung Electronics's union in South Korea has announced plans for its first-ever walkout next week, demanding higher wages.

29 May 2024

IndiGo

IndiGo announces female-friendly seat selection option on flights

IndiGo has introduced a new facility, allowing female passengers to check seats pre-booked by other female travelers, during web check-in.

29 May 2024

Zomato

Zomato in discussions with NBFCs to provide loans to restaurants

Zomato, a leading food delivery platform, is reportedly reviving its lending ambitions after a brief hiatus.

29 May 2024

JioMart

JioMart launching sub-30-minute delivery service to rival Blinkit and Zepto

Reliance Industries is reportedly preparing to enter the quick commerce market with its subsidiary, JioMart, planning to introduce an under-30-minute delivery service.

29 May 2024

Electric Cars

Centre to announce ₹10,000cr FAME 3 EV scheme by August 

The Indian government is preparing to launch the third phase of its electric vehicle (EV) incentive scheme, called FAME (Faster Adoption and Manufacturing of Electric Vehicles).

ITC gets CCI nod for hotel business demerger

The Competition Commission of India (CCI) has given its approval for the demerger of ITC's hotel business into a separate entity.

29 May 2024

Bitcoin

Cryptocurrency prices today: Check Rates of Bitcoin, Ethereum, Dogecoin, Solana

Bitcoin has climbed 1.15% over the last 24 hours, trading at $68,661.54. It is 1.63% lower than previous week.

29 May 2024

Apple

NVIDIA's market value surges closer to Apple amid AI boom

NVIDIA experienced a significant surge of 6% in its share price, hitting a record high of $1,128 on Tuesday.

29 May 2024

Adani Group

Gautam Adani discusses Paytm stake purchase with Vijay Shekhar Sharma

Gautam Adani, chairman of the Adani Group, is in talks with Vijay Shekhar Sharma, founder and CEO of Paytm, to acquire a stake in One 97 Communications, the parent company of Paytm.

IMF raises China's 2024 GDP growth forecast to 5%

The International Monetary Fund (IMF) has revised its economic growth forecast for China in 2024 to 5%, as stated in a recent press release.

Hindalco-owned Novelis aims for $12.6 billion valuation with US IPO

Novelis Inc, a subsidiary of Hindalco Industries, is targeting a valuation of up to $12.6 billion, through its initial public offering (IPO) in the United States.

28 May 2024

Startups

MARS Unicorn Fund pumps $50 million into Indian start-up Infra.Market

The Mumbai-based start-up, Infra.Market, has received a fresh investment of $50 million from MARS Unicorn Fund.

28 May 2024

Stock Market

Sensex closes at 75,170 points, Nifty settles below 22,890 mark

The stock market on Tuesday ended on a negative note.

28 May 2024

Accenture

Indian IT sector hit by silent layoffs, over 20,000 affected

India's IT sector has been hit by a wave of 'silent' layoffs between 2023 and 2024.

28 May 2024

Indian Government

Indian government to enhance workers' skills for overseas job opportunities

The Indian government is planning a significant skill upgrade for its professional workforce.

28 May 2024

Sony

Gaurav Banerjee appointed as CEO of Sony Pictures Networks India

Sony Pictures Networks India (SPNI) has announced the appointment of Gaurav Banerjee as its new Chief Executive Officer.

28 May 2024

Gautam Adani

Adani Enterprises board approves ₹16,600 crore fundraising plan

Billionaire Gautam Adani-led Adani Enterprises has announced a significant fundraising plan, approved by its board of directors.

28 May 2024

Adani Group

Adani Group may soon offer UPI, credit card, e-commerce services

Adani Group, one of India's prominent conglomerate, is reportedly strategizing to penetrate the e-commerce and digital payments sectors.

28 May 2024

Bitcoin

Cryptocurrency prices today: Check rates of Bitcoin, Ethereum, BNB, Polygon

Bitcoin has lost 0.92% in the last 24 hours, trading at $67,890.18. It is 4.51% down compared to last week.

28 May 2024

Abu Dhabi

Adani Enterprises board convenes to discuss fundraising plans

Adani Enterprises, led by billionaire Gautam Adani, has announced a board meeting today to discuss potential fundraising options.

28 May 2024

Ola

BluSmart aims to raise $300 million to boost EV fleet

India's leading electric cab operator, BluSmart, has announced plans to raise over $300 million within the next three years.

LIC Q4 earnings exceed expectations, brokerages predict 30% stock rise

Life Insurance Corporation (LIC), India's largest insurer, has reported a better-than-expected performance for the January-March quarter of fiscal year 2024.

28 May 2024

Indian Rupee (INR)

Rupee to gain momentum as India joins bond index: Citi

Citigroup Inc. has projected a strong performance for the Indian rupee in the Asian region this year.

27 May 2024

China

China launches $47 billion semiconductor fund to counter US sanctions

China has launched a massive $47 billion fund, the largest in its history, to bolster its semiconductor industry and establish a local supply chain.

27 May 2024

4G

Vodafone Idea is offering 130GB additional data to its users

Vodafone Idea (Vi) has launched the 'Vi Guarantee Program,' a new initiative aimed at providing an additional 130GB data to new 4G and 5G smartphone users.

Awfis Space Solutions IPO exceeds expectations, oversubscribed 108 times

Awfis Space Solutions's Initial Public Offering (IPO) experienced a dramatic increase in investor interest today, the final day of bidding.

27 May 2024

Hyundai India

Hyundai onboards top advisers for IPO of its India unit

South Korean automaker Hyundai has reportedly engaged the services of Kotak and Morgan Stanley as advisers for its forthcoming initial public offering (IPO) in India.

27 May 2024

Stock Market

Sensex closes at 75,809 points, Nifty settles above 22,930 mark

The Indian stock market closed on a flat note on Monday, with the Sensex settling at 75,390.50 points, and the Nifty ending at 22,932.45 points.

27 May 2024

Finance

Nazara Tech promoter offloads 6% stake to address liquidy needs  

Nazara Tech, on Monday, announced that its promoter Mitter Infotech LLP has divested a significant portion of its holdings.

27 May 2024

Mukesh Ambani

Mukesh Ambani's Reliance Industries ventures into Africa's telecom market

Asia's wealthiest individual, Mukesh Ambani, is set to expand his telecom venture into Africa, specifically targeting mobile broadband customers.

27 May 2024

Elon Musk

xAI, Elon Musk's AI startup, raises $6 billion in funding

Elon Musk's artificial intelligence startup, xAI, has successfully secured $6 billion in a Series B funding round.

27 May 2024

Sensex

Sensex, Nifty scale fresh all-time highs: What's driving the rally

Indian blue-chip indices, the Sensex and Nifty 50, achieved new record highs on Monday fueled by positive global market cues and continued investor optimism.

27 May 2024

ICRA

NHAI to earn ₹60,000cr in FY25 through road asset monetization

The National Highways Authority of India (NHAI) is set to significantly increase its revenue by monetizing road assets, with potential earnings reaching up to ₹60,000 crore in the fiscal year 2025.

27 May 2024

Bengaluru

Indian start-up Zypp Electric secures funding for Southeast Asia expansion

Indian electric vehicle (EV) start-up, Zypp Electric, has successfully secured a fresh investment of $15 million from Japanese energy and oil conglomerate ENEOS.

27 May 2024

Bitcoin

Cryptocurrency prices today: Check rates of Bitcoin, Ethereum, Dogecoin, Solana

Bitcoin has dropped 0.31% in the past 24 hours to trade at $68,711.30. Compared to last week, it is 2.23% up.

Divi's Laboratories shares soar 5% post solid Q4 results

Divi's Laboratories experienced a 5% surge in its share price during Monday morning trade.

26 May 2024

Samsung

Samsung outsources more smartphone production to Chinese manufacturers 

Samsung is set to increase its smartphone production outsourcing to Chinese original device manufacturers (ODMs) and joint device manufacturers (JDMs).

26 May 2024

BharatPe

BharatPe and PhonePe settle trademark dispute out of court

Digital payment companies BharatPe and PhonePe have successfully resolved their long-standing legal dispute over the use of the trademark suffix 'Pe.'

26 May 2024

Finance

Venturi Partners to launch India-centric fund for family offices

Asian private-equity firm, Venturi Partners, is planning to launch a $75-100 million fund in India later this year.

26 May 2024

Lok Sabha Elections

FPIs offload Indian equities worth ₹22,000 crore in May

Foreign portfolio investors (FPIs) have sold off Indian equities amounting to a net value of ₹22,046 crore in May.

26 May 2024

BPCL

SEBI imposes penalties on IOC, GAIL, ONGC for non-compliance 

Several state-owned oil and gas companies, including Indian Oil (IOC), Oil and Natural Gas Corporation (ONGC), and GAIL (India) Ltd, have been penalized for the fourth consecutive quarter.

Awfis Space Solutions extends IPO closing date to May 27

Awfis Space Solutions has announced the extension of its initial public offering (IPO) closing date from May 24 to May 27.

26 May 2024

Elon Musk

Tesla shareholders advised to reject Elon Musk's $56B pay package

Proxy advisory firm Glass Lewis has advised Tesla shareholders to reject a proposed $56 billion pay package for CEO Elon Musk.

26 May 2024

Cryptocurrency

Cryptocurrency prices today: Check rates of Bitcoin, Ethereum, Dogecoin, Solana

Bitcoin has surged 0.36% in the past 24 hours to trade at $68,981.95. It is 2.83% up compared to last week.

Income Tax Department sets FY25 Cost Inflation Index at 363

The Income Tax Department has released the Cost Inflation Index (CII) for the fiscal year (FY) beginning in April 2024.

25 May 2024

NVIDIA

NVIDIA stock split might spur trend in tech industry: BofA

NVIDIA's recent announcement of 10-for-1 stock split could potentially influence a trend among high-value tech companies, according to a note from Bank of America (BofA).

25 May 2024

Go First

EaseMyTrip founder Nishant Pitti withdraws acquisition bid for Go First

Nishant Pitti, the CEO of online travel company EaseMyTrip, has announced the withdrawal of his firm's bid for the defunct airline Go First.

25 May 2024

Reliance Industries

Reliance Industries to transfer unclaimed shares to government fund

Reliance Industries Limited (RIL) has publicly announced its decision to transfer unclaimed shares to the Investor Education Protection Fund (IEPF), which is managed by the central government.

India's power demand nears all-time high as heatwave intensifies

India's peak power demand soared to a new seasonal high of 239.96GW on Friday, driven by rising temperatures across the country.

25 May 2024

Germany

Germany's solar energy surplus outpaces demand, drastically lowering energy prices

Germany's solar power production has exceeded consumer demand, leading to a significant decrease in energy prices, affecting producers' profitability and slowing down the expansion of solar energy.

Reliance seeks CCI approval for Viacom18-Star India's $8.5B merger

Reliance Industries has sought approval from the Competition Commission of India (CCI) for an $8.5 billion merger between Viacom18 and Star India Pvt Ltd (SIPL).

25 May 2024

India

Wealth tax on ultra-rich could reduce India's wealth gap: Study

A new study by the World Inequality Lab, co-authored by economist Thomas Piketty, proposes a wealth tax on India's ultra-rich to address wealth inequality.

25 May 2024

Stock Market

Nikhil Kamath-backed Nazara Technologies's Q4 profit plummets 98% YoY

Nazara Technologies, a diversified gaming and sports media company, has reported a substantial decrease in its Q4 net profit.

25 May 2024

Cryptocurrency

Cryptocurrency prices: Here are rates of Bitcoin, Ethereum, Dogecoin, Solana

Bitcoin has risen 1.66% over the last 24 hours to trade at $68,772.16. It is up 2.84% from last week.

25 May 2024

Aditya Birla Group

Aditya Birla Group's market cap crosses $100 billion milestone

The combined market capitalization of the companies under the Aditya Birla Group has successfully exceeded the $100 billion mark.

25 May 2024

Joe Biden

Joe Biden to reinstate tariffs on numerous Chinese imports

President Joe Biden is set to reimpose tariffs on hundreds of Chinese goods, as per an announcement from the office of the US Trade Representative.

24 May 2024

Google

Google announces $350 million investment in e-commerce platform Flipkart

Google has announced a significant investment of around $350 million in Flipkart, India's leading e-commerce platform.

24 May 2024

xAI

Elon Musk's xAI nears completion of $24 billion valuation deal

X.AI Corp is on the brink of finalizing a funding round that could potentially value the company at over $24 billion, according to Bloomberg.

24 May 2024

HDFC Bank

HDFC Bank launches 'PIXEL' virtual credit cards: Know benefits

HDFC Bank has introduced 'PIXEL Play' and 'PIXEL Go,' marking the debut of India's first fully digital credit cards.

24 May 2024

Johnson & Johnson

Cancer victims file lawsuit against Johnson & Johnson: Here's why

A group of cancer victims has initiated a class action lawsuit against healthcare behemoth, Johnson & Johnson (J&J).

24 May 2024

Startups

Slice founder Rajan Bajaj's salary was mere ₹12 in FY23

Rajan Bajaj, the founder of fintech unicorn Slice, drew an annual salary of just ₹12 in FY23, as per a report by PrivateCircle Research.

24 May 2024

Sony

CEO of Sony Pictures Networks India decides to step down

NP Singh, the current Managing Director and CEO of Sony Pictures Networks India (SPNI), has announced his decision to step down.