News

Ambani’s RIL Acquires Adani Power Subsidiary Shares

Ambani’s RIL Acquires Adani Power Subsidiary Shares

Reliance Industries Limited and Adani Power have announced an unexpected twist that could significantly impact the energy sector. India’s wealthiest business tycoon, Ambani, has revealed the acquisition of Mahan Energen, a subsidiary of Adani Power. RIL mentioned that they will buy a 26% stake worth ₹50 crore in the 600 MW unit of Mahan Energen’s…

L&T’s Middle East Deals Enhance its Renewables Portfolio

L&T’s Middle East Deals Enhance its Renewables Portfolio

In recent developments, Larsen & Toubro has confirmed that it has received mega projects from the Middle East to develop two gigawatt-scale solar PV plants. The project classification of these mega projects is between Rs 10,000 crore and Rs 15,000 crore. In the exchange filings, the company mentioned that “The plants will have a cumulative…

TRAI Clarifies Mobile Tariff Hike – Will Prices Shift Again?

TRAI Clarifies Mobile Tariff Hike – Will Prices Shift Again?

Recently, major telecom service providers like Jio, Airtel, and more have increased the prices of their mobile tariff plans by 25%. Further, unlimited 5G is now conditional and exclusive to plans offering 2GB or more data per day.  These changes irked users, and few customers even started believing these were against the regulatory framework. To…

Malaysia Co-Partner With Chinese Automaker – BAIC Motor 

Malaysia Co-Partner With Chinese Automaker – BAIC Motor 

The Southeast Asian region is looking forward to joining a partnership with China-based automaker – BAIC Motor. With the aim of expanding the local production of EVs, earlier this year, an agreement was signed between BAIC and Gigafactory Malaysia (GMSB), a subsidiary of NanoMalaysia. It is done to develop EV battery technology to increase the…

Koo Is Calling It Quits – Find Out What Happened

Koo Is Calling It Quits – Find Out What Happened

Koo, a million-dollar Indian startup that was once considered a rival of Twitter (now X), is shutting down. Its founder, Aprameya Radhakrishna, posted the news on LinkedIn on Wednesday. The news came after the ongoing merger deals with different companies fell through.  Koo’s founder RadhaKrishna, said, “Here’s the final update from our end. Our partnership…

Inside the Hedge Fund’s Dark Scheme Against Adani

Inside the Hedge Fund’s Dark Scheme Against Adani

In light of recent events, SEBI (Security Exchange Board of India) released a shocking revelation regarding the Hindenburg report on Adani Entreprises. In its report, the regulator mentioned that the US-based research firm Hindenburg made a profit-sharing deal with Kingdon Capital Management LLC to share research reports before making them public. Ultimately, this resulted in…

Chennai To Receive INR 1,000 Cr From Capgemini 

Chennai To Receive INR 1,000 Cr From Capgemini 

Capgemini, in their press release, announced an investment of INR 1,000 crores in Chennai to build a world-class facility. However, this facility is not just about building a facility; it’s about fostering a diverse and inclusive work environment. Over the next three years, this substantial amount will be used to set up a 5,000-seat capacity…

Credit Card Shake-Up: How Will It Impact Cardholders?

Credit Card Shake-Up: How Will It Impact Cardholders?

July has ushered in significant financial reforms, including changes to credit card rules and ITR deadlines. Major banks like HDFC, CitiBank, and others have announced alterations to their credit card rules, which will be implemented before the end of July. Additionally, the ITR filing date for the fiscal year (2023-24) and the assessment year (2024-25)…

Zomato Faces Massive ₹9.45 Crore GST Demand Notice

Zomato Faces Massive ₹9.45 Crore GST Demand Notice

As per the BSE exchange filing, on June 30, Karnataka’s Assistant Commissioner of Commercial Taxes issued a GST demand notice to Zomato for Rs. 9.45 crore, including interest and penalty.  The company’s exchange filing mentions, “This is to inform that the company has received an order for FY 2019-20 pursuant to the audit of GST…

JP Morgan’s Index Open Doors For Massive Investments

JP Morgan’s Index Open Doors For Massive Investments

The world’s largest bank in terms of market cap, JP Morgan Chase & Co., has announced that they will be including Indian government bonds in their indexes from 28 June 2024. According to various experts, India is expected to raise billions of dollars after the development. Moreover, this listing will give a broad range of…