Rikant Pitti Becomes The New CEO Of EaseMyTrip
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…
Shipra Prajapati
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…
abhinav singh
Mukesh Ambani’s Diwali Surprise: A Gift To Remember
During the recent Annual General Meeting, India’s prominent businessman Mukesh Ambani announced the gift of bonus shares to Reliance Industries shareholders. According to the announcement, the company will issue one bonus share for every share held. Mukesh Ambani’s announcement will benefit around 3.7 million shareholders and ensure a better Diwali this year. The company’s approval…
Vikas
Zomato Offering Generous ESOP To Its Employees
Popular food delivery brand Zomato has granted nearly 12 million stock options under its employee stock option plan (ESOP). In an official filing, the company stated that 11,997,768 stock options had been secured for the employees under its ESOP 2014 and ESOP 2021 schemes. The stock options are estimated to be worth around Rs. 330…
Vipin
Allcargo Logistics Obtained 75% Of Fair Trade GmbH
A leading logistics company, Allcargo Logistics, picked up a 75 percent stake in the European rival Fair Trade GmbH for 12 million euros. The German company Gesellschaft mit beschränkter Haftung (GmbH) is valued at 16 million euros. The Mumbai-based company said in the statement that ━ “the acquisition is being carried out through its European…
Aman Goyal
Elon Musk Sold A Huge Chunk Of Shares In EV Business
Tesla CEO Elon Musk sold about 22 million shares of his electric vehicle business, which was worth around $3.6 billion, according to the financial filing out on Wednesday. The transaction took place between Monday and Wednesday, according to the filings with the Securities and Exchange Commission. Earlier this month, Elon stated that he had no…
YES Bank Re-enters The Top 100 Most Valued Firms List
YES Bank re-entered the top 100 most valued companies list in terms of market capitalisation (market-cap). It is because the stock of private sector lenders zoomed 30% in the past three days after the Reserve Bank of India (RBI) agreed to raise capital from funds affiliated with global private equity investors Carlyle and Advent International. …
Adani Group To Acquire 29.18% Stake In NDTV, 26% In Line
Indian billionaire Gautam Adani’s conglomerate on Tuesday said it seeks to control the majority of stake in a popular news channel New Delhi Television (NDTV). Hours after the announcement, NDTV issued a statement that the Adani Group’s move “was executed without any input from, conversation with, or consent of the NDTV founders. According to Adani…
Has Elon Musk Jeopardised Twitter’s Business For His Gain?
Elon Musk has found himself surrounded by another controversy, regarding the failed deal with Twitter. Apart from successfully running his automotive and clean energy company, ‘Tesla’, the multi-billionaire CEO is often spotted making incautious comments and replies over social media. In April 2022, Elon Musk disclosed his stakes in Twitter, making him the single largest…
Byju’s Conducted Fresh Round Funding Worth $22 Billion
Edtech company Byju’s acquired Aakash Educational Services in a cash and stock deal in April last year for $1 Billion, for which it has delayed payments. Byju’s was supposed to close the transaction in June but has extended the payment timeline to August, sources said, but it was delayed due to some internal reason. Now,…