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On February 21, US-based non-bank loan agency Glas Trust Company LLC lodged an insolvency plea against ed tech giant Byju’s at the National Company Law Tribunal (NCLT) in Bengaluru. This marks the fourth insolvency plea filed against Byju’s in less than six months, underscoring mounting financial challenges for the educational technology company. Glas Trust serves…
Highlights: Securities and Exchange Board of India (SEBI) reveals a discrepancy exceeding $240 million in Zee Entertainment’s accounts. Investigation implicates Zee Group’s founders, Subhash Chandra and CEO Puneet Goenka, in alleged fund diversions. Discrepancy ten times higher than initially estimated, underscoring the severity of findings. Zee Entertainment’s attempts to revive failed merger with Sony Group…
In the realm of America’s oil and natural gas sector, a major change is happening. Diamondback Energy Inc. made a big move by announcing its acquisition of Endeavor Energy Resources LP on February 12. This marks the end of a year filled with around $250 billion worth of deals in the US oil and gas…
Novartis AG, a Swiss pharmaceutical giant, has commenced a strategic review of its subsidiary, Novartis India Limited. This evaluation encompasses various aspects, including Novartis AG’s substantial 70.68 percent shareholding in the Indian entity. Dr. Reddy’s Shows Interest in Acquiring Novartis AG’s Stake Indian pharmaceutical major Dr. Reddy’s is reportedly eyeing Novartis AG’s stake in Novartis…
TVS Motor Company, a prominent player in the Indian automotive industry, recently achieved a significant milestone by becoming the sixth Indian automobile firm to attain a market capitalization of over ₹1 lakh crore. This accomplishment comes on the heels of a remarkable surge in the company’s share price, which has soared by 60% over the…
Mahindra & Mahindra Ltd., a leading automaker based in Mumbai, witnessed a significant increase in its income during the third quarter of fiscal 2024, meeting market estimates. According to the exchange filing on Wednesday, the net profit of the company soared by 60.6% year-on-year to reach Rs 2,454 crore. This remarkable growth was supported by…
State-owned Bharat Petroleum Corporation Ltd (BPCL) is set to offer approximately 80 lakh shares worth an estimated ₹450-500 crore through a block deal, according to a recent report by CNBC Awaaz. This strategic move by BPCL involves the BPCL Trust for Investment divesting a portion of its shares through this transaction. The final decision regarding…
EaseMyTrip, a prominent player in the online travel industry, is making headlines with its latest venture into the hospitality sector. The company has announced plans to invest up to ₹100 crore in a luxurious 5-star hotel located near the iconic Ram Temple in Ayodhya. This strategic move aims to capitalize on the surge in tourist…
Indian companies across industries already posting their third-quarter earnings, excitement mounts on which sectors performed better and what’s the outlook for the next quarter. Many companies are slated to announce their quarterly results, garnering significant attention from Dalal Street. Investors are particularly keen on the performance of major players. Highlights of Results: Hero MotoCorp: The…
PepsiCo has unveiled its quarterly earnings, revealing a mixed performance as North American demand for its food and beverages experiences a downturn. Despite exceeding Wall Street’s earnings expectations, the company’s revenue fell short of estimates, reflecting ongoing challenges in the market. CEO Ramon Laguarta attributed the slowdown in U.S. sales during the fourth quarter to…
Pharma major Divi’s Laboratories has released its financial results for the October-December quarter of the current fiscal year, revealing a notable 17 percent year-on-year (YoY) increase in its consolidated net profit. The company reported a consolidated net profit of Rs 358 crore for the quarter, compared to Rs 306 crore in the same period last…
Tokyo, Japan: SoftBank Group Corp., the Tokyo-based tech investor, has divested a majority of its stake in Paytm Payments Bank Ltd. amidst growing uncertainty in India’s regulatory landscape. Navneet Govil, Executive Managing Partner of the Vision Fund, disclosed the move to Bloomberg News on Thursday, citing concerns over regulatory scrutiny and the status of Paytm’s…
After a year marked by significant layoffs, job cuts in the tech industry’s major firms have persisted into the first month of 2024. Google initiated the year with layoffs affecting several hundred employees, with plans for additional cuts in the pipeline. Following suit, Amazon downsized hundreds of jobs in its Prime Video division, while Meta…
In the ever-evolving landscape of real estate and finance, mortgage brokers and loan officers are emerging as indispensable guides for individuals seeking the most advantageous deals in home financing. As we step into the new year, the spotlight is on these financial experts who play a pivotal role in helping individuals explore competitive rates and…
In its most recent update to the World Economic Outlook report, the International Monetary Fund (IMF) has made noteworthy adjustments to India’s economic growth forecast for the fiscal year 2024-25. The IMF has raised India’s GDP growth projection by 20 basis points, now standing at 6.5 percent, attributing this upward revision to the country’s resilient…
In a financial rollercoaster, Yes Bank Ltd’s fiscal third-quarter performance revealed a remarkable surge in net profit, soaring over fourfold from the previous year. Also Read: Netflix Surpasses Expectations with Strong Q4 2023 Performance, Adds 13.1 Million Subscribers Key Highlights: Yes bank Net Profit Soars: Yes Bank Ltd’s fiscal third-quarter results unveiled a spectacular surge…
Global streaming giant, Netflix, has demonstrated a remarkable comeback in the fourth quarter of 2023, reporting the addition of a staggering 13.1 million subscribers. This surge surpasses Wall Street expectations, cementing Netflix’s position as a leading premium video-streaming platform worldwide. The performance comes after a period of subdued quarters, during which Netflix strategically shifted its…
Pune-based automaker Bajaj Auto Ltd has posted impressive financial results for the third quarter of FY24, outperforming market expectations. Key Highlights: Strong Profit Growth: Bajaj Auto reported a remarkable 37% YoY increase in net profit for Q3 FY24, reaching Rs 2,041.88 crore. This surge was primarily fueled by robust sales of its two-wheelers, strategic price…
Zee Entertainment Enterprises suffered a significant blow, with its stock plunging by 10% in the opening trade on January 23, following the unexpected termination of its $10-billion merger with Sony Pictures. The decline came after Sony cited delays in closing the deal by the specified end date and lapses in meeting the closing conditions of…
India’s stock market has hit a historic milestone, outshining Hong Kong in terms of total market capitalization. The combined value of shares listed on Indian exchanges reached an impressive $4.33 trillion as of the latest market close, edging ahead of Hong Kong’s $4.29 trillion (Bloomberg data).This accomplishment moves India to the fourth spot among the…
