Bad News For SBI: Sufferers ₹44935 Cr Lose in 5 Days
India’s largest government bank, SBI (State Bank of India), suffered a whopping ₹44935 crore loss in its market valuation. The Indian share market has remained in the red in the past few weeks, and SBI has faced pressure from weak trends, resulting in this huge loss. As per the market data, SBI’s market capitalisation has…
Bhumika
Swiggy Plans To Launch Instamart App As A Separate App
In a strategy to attract customers, the Indian food platform plans to launch its separate grocery delivery app Instamart – Swiggy’s quick commerce offering – as a separate app. Instamart will remain on the Swiggy app, but the separate app will serve customers searching for grocery deliveries. This strategy was adopted by Chinese internet giants…
Vipin Kumar
BP’s Big Success: Secured A Major ONGC Contract
On Tuesday, January 8, 2025, the UK-based global energy company BP PLC secured a major contract to operate and enhance production from ONGC’s (Oil and Natural Gas Field) flagship Mumbai High Field. The UK-based firm didn’t disclose the contract’s financial details, such as the revenue share. ONGC’s Mumbai High Field is India’s largest oil and…
India’s GDP Expected To Grow At 6.4% In The FY25
On January 7, 2025, the centre released estimates for India’s GDP (Gross Domestic Product) growth rate in the current fiscal year. According to this estimation, the country’s GDP is predicted to grow at 6.4% in the fiscal year 2024-25, marking a four-year low and a sharp decline from 8.2% in FY24. A recent report from…
Himanshu
Meta Goes To NCLAT Against CCI’s Rs 213 Crore Penalty
On 6 January 2025, Meta, the parent company of Facebook and WhatsApp, filed an appeal in the NCLAT (National Company Law Appellate Tribunal) against the Rs 213 crore CCI penalty. The fine was imposed for the company’s alleged abuse of its dominant position related to WhatsApp’s 2021 privacy policy. The case is expected to be…
Shipra Prajapati
4 Of Top 10 Firms’ Mcap Dropped By Rs 96,606 Crore
Among India’s top 10 most valued firms, the Mcap of 4 firms, namely Tata Consultancy Services, HDFC Bank, ICICI Bank, and SBI declined by Rs 96,605.66. Among these companies, HDFC witnessed the sharpest loss, with its valuation dropping by Rs 37,025.46 to Rs 13,37,919.84 crore. The value of ICICI dropped by Rs 29,324.55 crore, and…
SEBI Rejects ZEE’s Punit Goenka’s Settlement Offer
The market regulator SEBI (Security and Exchange Board of India) rejected the settlement application of Zee Entertainment Enterprises CEO Punit Goenka. It released an adjudication order on Thursday, Jan 2, 2025, stating that a new SCN (Show-Cause Notice) will be issued. The regulator previously issued an SCN on July 6, 2022, to entities following allegations…
Rikant Pitti Becomes The New CEO Of EaseMyTripÂ
The Indian multinational online travel company EaseMyTrip announced on Wednesday, January 1, 2025, that its Co-Founder and CEO, Nishant Pitti, has resigned due to personal reasons. Now, his brother and Co-Founder, Rikant Pitti, has taken charge as the company’s CEO. Rikant is currently EaseMyTrip’s Executive Director. In its disclosure, EaseMyTrip shared that Rikant Pitti’s current…
Adani Enterprises’ $2 Billion Deal For Fund Inflow
On Monday, Adani Enterprises Limited (AEL) announced that it would exit from the joint venture with Wilmar International Limited under a $2 billion deal, ending a 26-year joint venture. The fund inflow from this deal is expected to address the group’s liquidity requirements. Adani Enterprises stated, “AEL will use the proceeds from the sale to…
Abdullah Ansari
Private Banks At Risk Due To High Employee Attrition
The Reserve Bank of India (RBI) reported high employee attrition among private sector and small finance banks (SFBs). It has grown by 25%, posing a significant risk to operational activities. This increased employee attrition can significantly disrupt customer services, result in a loss of institutional knowledge, and increase recruitment costs. The RBI stressed on several…
