Shock For India Cements: MD And CEO Srinivasan ResignsÂ
India Cements MD and CEO, Mr N. Srinivasan, resigned from his post. According to the exchange filing, Srinivasan will stop working in the company on January 1, 2025. This has brought the curtains down for the 50-year-long connection of CEO, Srinivasan with the company that was co-founded by his father, TS Narayanaswami, in 1946. Other…
Abdullah Ansari
Indian Telecom Industry Faces A 33 Lakh Subscriber Dip
The TRAI (Telecom Regulatory Authority of India) recently released its subscription data for October 2024. This data shows a decline of 33 lakh active subscribers across the country. Including wireless and wireline, telephone subscriber count stood at 1,188.20 million until October 31, 2024, reflecting a 0.21% monthly decline rate. In addition, India’s broadband sector witnessed…
Himanshu
The Government Plans To Infuse Rs 500 Crore In IFCIÂ
In the second half of Fiscal Year 2024, IFCI reported a Rs 22 crore loss, with the first half losses grossing Rs 170 crore. This significantly impacted the company’s growth and financial health. The Indian Government now plans to invest Rs 500 crore into the company to improve its financial health. This move might grow…
ABHYUDAYA MITTAL
The Government’s New Plan To Curb Unregulated Lending
The central government proposed a new bill to curb lending by unregulated entities, including digital platforms. Under the new bill, violators will face up to 7 years in prison. Lenders harassing and using unlawful methods to recover loans will face 10 years in prison, while those who promote such lending activities will get up to…
Bhumika
SEBI Tightens SME Listing Regulations, Widens UPSI
SEBI (Securities and Exchange Board of India) tightened the SME (Small Business Enterprise) listing regulations on Wednesday, Dec 18, 2024. It also approved an overhaul of investment banking regulations and expanded the definition of UPSI (unpublished price-sensitive information). In addition to that, it gave the green signal to reforms, making it easier for Debenture Trustees,…
India’s Remarkable Growth In Renewable Energy
The CII International Energy Conference and Exhibition (IECE) 2024 took place on 17 December in New Delhi. Shri Pralhad Joshi, Union Minister for New and Renewable Energy, addressed this conference and shared that India is experiencing remarkable growth in renewable energy. He added that India is one of the world’s most promising nations in clean…
Wipro’s Bold Acquisition Of Applied Value Technologies
Azim Premji-owned Wipro announced on Monday, 16 December, that it will acquire 100% shareholdings of the IT consulting firm Applied Value Technologies (AVT). This will be a $40 million deal, underscoring another major acquisition this year. The IT major Wipro has been on an acquisition spree in 2024. Wipro acquired a 27% stake in SDVerse,…
Aditya Birla Cement Leads India’s Maritime Mission
UltraTech Cement Limited, the flagship company of the Aditya Birla Group and India’s largest cement and ready-mix concrete producer, has set a milestone as the first cement company to transport a bulk consignment of mineral gypsum via National Waterway 1 (NW-1). This waterway, spanning 1,620 km along the Ganga-Bhagirathi-Hooghly river system, connects Prayagraj in Uttar…
Data Centres To Attract $100 Billion Investment By 2027
The real estate advisory firm CBRE reported that investments in Indian data centres might surpass the $100 billion mark by the end of 2027. Between 2019 and 2024, the country attracted investment commitments of a whooping $60.3 billion from international and domestic investors. In the same report, CBRE shared that India’s data centre capacity is…
Shipra Prajapati
ChatGPT Faced Global Outage: What Is The Reason?
OpenAI’s chatbot ChatGPT faced a global outage on Thursday night. Thousands of platform users reported issues starting around 4:30 a.m. IST (6 p.m. Eastern Time) and peaking around 5:30 a.m. IST (7 p.m. ET). According to the platform Down Detector, which records such outages via user reports, the ChatGPT received around 373 complaints. Many other…
Yash Sharma