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Swiggy Gets Shareholders' Nod for $1.2 Billion IPO This Year
Online food delivery platform Swiggy is planning to file for an initial public offering (IPO) worth $1.2 billion this year after receiving an approval from its shareholders.According to a regulatory filing, the company aims to raise up to Rs 3,750 crore through a fresh...
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Audi Hikes Prices by up to 2 PC across Its Model Range in India
German luxury car manufacturer Audi on Thursday announced a price hike of up to two per cent across its model range in India owing to rising input and transportation costs.The price hike will be effective from June 1."Rising inputs costs are compelling us to increase prices...
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Kotak Bank Goes into Damage-control Mode after RBI Ban
The top management of Kotak Mahindra Bank has gone into damage-control mode after RBI barred the lender on Wednesday from taking new customers online and issuing fresh credit cards with immediate effect.According to reliable sources, Chief Executive Officer and MD Ashok...
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FIIs Sold Equity Worth RS 25,853 Crore in Last Seven Days
While foreign institutional investors (FIIs) sold heavily in the past few days, the selling has been countered by domestic funds.During the last seven days, FIIs sold equity worth a massive Rs 25,853 crores but the domestic institutional investors (DII) buying overwhelmed...
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Will Make India Our Global Export Hub: Hyundai Motor Chief
The chief of Hyundai Motor Group recently visited India and laid out a vision to bolster its operations there to utilise the country as a key export hub for the South Korean automaker, the group said on Thursday.Over the past year, Hyundai Motor Group has announced new...
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RBI Crackdown Triggers Crash in Kotak Bank Shares
Shares of Kotak Mahindra Bank crashed by as much as 12 per cent in morning trade on Thursday to Rs 1,620 on BSE as investors dumped the stock following the RBI crackdown on the lender.The RBI had, on Wednesday evening, barred Kotak Mahindra Bank, with immediate effect, from...
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SK Hynix Returns to Profit on Robust Demand for AI Chips in Q1
SK hynix said on Thursday it swung to a profit in the first quarter of this year on the back of rising global demand for premium memory chip products used for artificial intelligence (AI) computing.The world's second-largest memory chipmaker posted an operating profit of...
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Happiest Minds Acquires Noida-based PureSoftware Technologies for RS 779 Crore
IT company Happiest Minds Technologies, on Thursday, said it has acquired Noida-based PureSoftware Technologies for $94.5 million (Rs 779 crore).Through this acquisition, Happiest Minds said that it has strengthened its domain capabilities in banking, financial services,...
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IBM Acquires Cloud Software Provider HashiCorp for $6.4 Billion
T major IBM has acquired multi-cloud infrastructure automation company HashiCorp for $35 per share in cash, or an enterprise value of $6.4 billion.HashiCorp's capabilities will drive significant synergies across multiple strategic growth areas for IBM, including Red Hat,...
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India to Become One of Biggest Chip Hubs in Next 5 Years: Ashwini Vaishnaw
India has commissioned four semiconductor manufacturing units and in the next five years, the country will become one of the biggest semiconductor hubs in the world, Union Railways and IT Minister Ashwini Vaishnaw has said.In a wide-ranging interview with IANS, the Union...
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Decline in Volatility Index Indicates Low Downside Risk to Market
BSE Sensex gained more than 300 points on Wednesday to continue its bullish trajectory.BSE Sensex was trading at 74,093 points, up by 355 points. Metal stocks are leading the gains with JSW Steel up more than 2 per cent, Tata Steel up by 1.6 per cent.V K Vijayakumar, Chief...
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'Number of Stocks Generating Positive Returns within Nifty500 Has Narrowed'
The breadth of the stock market rally is narrowing with the number of stocks generating positive returns coming down.The number of stocks generating positive returns within the Nifty500 universe has narrowed from 452 in Q1FY24 to 268 in Q4FY24, a report by Motilal Oswal...
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PM Modi Has Lifted 400 Million People Out of Poverty: JP Morgan CEO
Prime Minister Narendra Modi has taken 400 million (40 crore) people out of poverty and is doing an "unbelievable job" in India, Global banking giant JP Morgan Chase chief executive officer (CEO) Jamie Dimon has said.Speaking at an event hosted by the Economic Club of New...
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UiPath Expands India Footprint, Launches 2 New Data Centres
Enterprise automation and AI software company UiPath on Wednesday said that it expanded its footprint in India by launching two new data centres as part of its global expansion initiative.The new data centres launched in Pune and Chennai will help meet the growing demand...
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Ericsson, IIT Kanpur's Tech Incubator F.I.R.S.T to Drive Financial Solution Innovations
Telecommunications giant Ericsson and the Foundation for Innovation & Research in Science & Technology (F.I.R.S.T), the technology business incubator at Indian Institute of Technology (IIT) Kanpur on Wednesday announced a two-year strategic partnership to drive innovation...
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Indian IT Services Sector to See 2nd-consecutive Year of Muted Revenue Growth: Report
The IT services sector in India is likely to see a second-successive year of muted revenue growth, at 5-7 per cent in FY25, amid continuing global macroeconomic headwinds, a report showed on Wednesday.This follows a 12 per cent compound annual growth over the decade through...
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Elon Musk hits out at Australia over ruling to hide stabbing videos
Tech billionaire Elon Musk has hit out at Australia over the country's attempts to ban footage of a Sydney church stabbing on his social media platform X.The Australian court on Monday evening granted a two-day injunction, ordering the platform to hide videos of the April...
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Aston Martin Launches New Sports Car 'Vantage' at RS 3.99 CR in India
Aston Martin on Tuesday launched the new sports car 'Vantage' at Rs 3.99 crore (ex-showroom) in India.According to the company, the new Vantage boasts a muscular physique and unmistakable presence, with design cues inspired by Aston Martin's legendary One-77 supercar."Any...
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Govt Gets 7 Bids under PLI Scheme for Making Advanced Chemistry Cells to Push Green Energy Plan
The Ministry of Heavy Industries said on Tuesday that it has received as many as seven bids under the global tender for the re-bidding of Production Linked Incentives (PLI) for 10 GWh Advanced Chemistry Cell (ACC) manufacturing announced on January 24 this year.The ministry...
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More than One in Five Cars Sold Worldwide Is Expected to Be Electric: IEA
More than one in five cars sold worldwide this year is expected to be electric, with surging demand projected over the next decade set to remake the global auto industry and significantly reduce oil consumption for road transport, the new edition of the IEA's (International...
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94 PC of Indian IT Leaders Expect Higher Budget Allocation for GenAI Initiatives: Report
About 94 per cent of Indian IT leaders anticipate increased budget allocations towards generative artificial intelligence (GenAI) initiatives within the next 12-24 months, a new report revealed on Tuesday.According to the search analytics company Elastic, India appears to...
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Razorpay 'UPI Switch' with Airtel Payments Bank to Power 10K Transactions a Second
Fintech major Razorpay on Tuesday launched its own Unified Payments Interface (UPI) infrastructure with 'UPI Switch' -- a next-generation cloud-based innovation, in partnership with Airtel Payments Bank.Boosting success rates by 4 to 5 per cent, the company said that it is...
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Telecom, Realty Stocks Lead Market Gains
Telecom stocks are the top performers in the markets on Tuesday.The telecom stocks index is up a massive 5 per cent.Tejas Networks is up more than 19 per cent. Tata Teleservices is up 11 per cent, Vodafone Idea is up 11 per cent, ITI is up 8 per cent, MTNL is up 6 per...
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WeWork India Strengthens Footprint in Country, Adds Two New Buildings
Flexible workspace provider WeWork India on Tuesday announced the expansion of their operations in the country by signing lease agreements for two new buildings.Set to open in the next couple of months, the new buildings -- HQ27 in Gurugram and Amanora Crest in Pune -- are...
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Sensex in the Green amid Bullish Undercurrent
BSE Sensex gained more than 100 points on Tuesday with the re-emergence of a bullish trend in the last two days.Sensex is trading at 73,809 points, up by 160 points. Bharti Airtel is up more than 2 per cent.V K Vijayakumar, Chief Investment Strategist, Geojit Financial...