Paytm’s stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold. The shares were sold at Rs 535.90 worth Rs 13.93 crore. Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total equity of … Read more
Recently, Adani Group announced the withdrawal of its fully subscribed FPO. Calling it a morally correct step, Gautam Adani said in a statement that the board took the decision considering the volatility of the market. The money that got locked in the subscribers’ accounts will be released soon via escrow. In the statement, there were several technical terms that … Read more
American chip manufacturer Advanced Micro Devices (AMD) has announced that it will invest around $400 million in India over the next five years and will build its largest design centre in the tech hub of Bengaluru. AMD’s Chief Technology Officer Mark Papermaster made the announcement at Semicon India 2023 in Gandhinagar, which was inaugurated today by PM Narendra Modi. … Read more
The US House of Representatives on Saturday approved a bill that could ban social media app TikTok, CNN reported. The bill passed 360-58 marks the latest defeat for TikTok in the US, as the social media company with 170 million users in the US fights for survival under its current ownership by ByteDance, its Chinese … Read more
Union Finance Minister Nirmala Sitharaman on Saturday said that regulators independent of the government will do their jobs and that a pullout of FPO pullout will not have any impact on the perception of India. “Regulators are independent of the government and they are left to themselves to do what is appropriate so the market … Read more
Days after announcing mega deals to purchase 470 aircraft from Boeing and Airbus, Air India on Friday announced that over 4,200 cabin crew trainees and 900 pilots will be hired in the year 2023 to meet its growing manpower needs. Earlier this month, Air India announced two mega order to purchase 220 aircraft from Boeing and 250 … Read more
On Thursday, the Securities and Exchange Board of India (SEBI) banned Bollywood actor Arshad Warsi and his wife Maria among 45 individuals and companies from participating in the securities market. The decision was rendered following an examination into claims that two firms, Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd., through specific entities, had manipulated share … Read more
In a country witnessing rapid growth, it comes as no surprise that India also has one of the fastest-growing fintech landscapes in the world, driven primarily by the advancement in digital payments segment. A recent report by PhonePe and Boston Consulting Group concluded that India’s digital payments market will more than triple from USD 3 … Read more
A day after US-based Silicon Valley Bank (SVB) shut down its operation, an Indian co-operative bank named ‘SVC Co-operation Bank Limited’ was forced to issue a statement following confusion on social media. In a tweet, the bank said, “SVC Bank is completely unrelated to Silicon Valley Bank (SVB) which was based in California. We request … Read more
On May 24, India’s largest life insurer LIC reported an impressive growth for the fourth quarter of Financial Year 2022-23. The Consolidated Profit After Taxes (PAT) of LIC stood at an impressive Rs 13,190.79 crores. The company has seen a 5.5 folds year-on-year rise of 447.47%. Notably, for the financial year 2021-22’s fourth quarter, LIC’s PAT was … Read more