BUSINESS
Raymond board approves plan for real estate business demerger
Each Raymond shareholder will receive 1 share of Raymond Realty for every 1 share held in Raymond
BUSINESS
Vodafone Idea board approves Rs 2,458-cr fundraising via share sale to Nokia, Ericsson
This preferential allotment price is higher by about 35 percent to the FPO price and comes with a lock in of 6 months, it said.
BUSINESS
India Q4 GDP Highlights: Economy tops 8% in FY24; FM says growth momentum to continue in third term of PM Modi
India Q4 GDP Highlights: India's economy grew at a faster-than-expected year-on-year in the January-March quarter, helped by government spending and resilient consumer demand, and economists expect the momentum to remain strong this year.
BUSINESS
Fintech unicorn Slice founder Rajan Bajaj took home Rs 12 as salary in FY23
Further, as per the report, the median salary of female unicorn founders was almost 44 percent lower than that of male unicorn founders in FY23, which came to Rs 1 crore as compared to Rs 1.8 crore for their male counterparts.
TECHNOLOGY
All that glitters: BigBasket, Swiggy Instamart, Zepto to deliver silver, gold coins in 10 mins
Gold and silver coins purchased through Swiggy Instamart will come with a 24 carat, 999 Gold coin. The silver coins are also of 999 purity.
BUSINESS
TCS Q4 results Highlights: Net profit beats estimates, revenue up 3.5%; CEO says quarter of strong deals and execution
TCS Q4 Results Highlights: During the post-earnings presser, Krithivasan said, 'This is a quarter of strong deals and execution for us. Continuous focus on operational excellence helped us achieve 26% operating margin'
BUSINESS
Zee’s Punit Goenka proposes to cut 15% workforce, eyes leaner organisation structure
The media company said that Goenka has 'initiated the process of rationalization of the workforce by 15 percent, that will prune the staff strength across the company.' The core business units of the proposed structure will include broadcast, digital, movies and music.
BUSINESS
Zee refutes all claims by Sony, says evaluating options
Sony ended the merger earlier today, which was announced two years ago, as they could not agree on some deal conditions, and has also sought $90 million in termination fees from Zee.
BUSINESS
Vibrant Gujarat Summit: Ambani, Adani, Suzuki pledge billions in investments
Gujarat has emerged as one of the most preferred investment destinations, and this crucial event serves as a catalyst for attracting investments and fostering partnerships that contribute to the growth of the state’s economy.
BUSINESS
Zee-Sony merger: Zee denies report, says committed to merger
Zee-Sony merger: Calling the report 'baseless and factually incorrect,' Zee added it is continuing to work towards a successful closure of the proposed merger
ASSEMBLY-ELECTIONS
Rajasthan assembly elections: As BJP sails smooth, key faces for CM candidate
Amid the celebrations of BJP workers already, key names for chief minister post are coming up, including former CM Vasundhara Raje and Arun Meghwal.
BUSINESS
Kotak Mahindra Bank to appoint Ashok Vaswani as new MD & CEO
Vaswani's appointment is for a period of three years from date of taking charge which shall not be later than January 1, 2024, Kotak Mahindra Bank said in a regulatory filing
BUSINESS
RBI MPC: Gold loan limit for urban cooperative banks doubled to Rs 4 lakh
The revision will help meet the funding requirements of small and marginal borrowers. Non-banking financial companies giving gold loans trade higher
TRENDS
FIDE World Cup 2023: Magnus Carlsen wins maiden World Cup, Praggnanandhaa finishes as runner-up
Praggnanandhaa, who stormed to the finals of the World Cup after beating two of the top three rated players in the world, has secured a ticket to the 2024 Candidates Tournament that will take place in Canada in April next year to decide who will challenge Ding Liren, the reigning world champion
BUSINESS
GE Power withdraws insolvency plea after BHEL agrees to pay Rs 25 crore
The National Company Law Tribunal has given GE the liberty to bring back the insolvency plea if BHEL fails to pay Rs 25 crore by September 16
BUSINESS
Zerodha's Nithin Kamath on root cause of corporate governance issues in Indian startups
Kamath also said that most of the governance issues coming to the fore now and in the future will likely not be traditional fraud but misreporting things to justify the stories founders have oversold to raise capital.
BUSINESS
SBI Life to acquire Sahara India's life insurance business: IRDAI
SBI Life shall take over the policy liabilities of around two lakh policies of SILIC, backed by the policyholders’ assets, with immediate effect, IRDAI added.
BUSINESS
Buying cheap Russian oil despite global glare reflects India's self-confidence: Jefferies' Chris Wood
In his weekly 'GREED & Fear', Wood said that despite initial pressures from US on New Delhi, the Modi government "has been consistent in its public stance that it will continue to act in its own national self-interest, which is to buy cheap Russia oil."
BUSINESS
$9 trillion worth! Apple, Microsoft, 3 other tech companies now make up 25% of S&P 500
According to a Bloomberg report, this year’s tech rally has lifted Apple, Microsoft, Alphabet and Amazon at least 30 percent and doubled the value of Nvidia and Meta
BUSINESS
Sebi's proposed fee caps could slash AMC profits by Rs 1,400 crore
AMCs are already under pressure from changes in taxation for debt mutual funds and the new proposal by the Securities and Exchange Board of India to bring a uniform total expense ratio (TER) will impact profits by 13 percent, or Rs 1,400 crore loss, according to Jefferies report released on May 19.
BUSINESS
7 out of 10 job seekers now prefer large corporates, startups a secondary choice: Report
The survey stated that only 27 percent employees would still consider switching to startups for career growth. "This indicates that professionals are focusing on upskilling and keeping themselves relevant to grow in their current organization," it added.
ASSEMBLY-ELECTIONS
Karnataka Polls: CM Bommai won’t have it easy at Shiggaon, a traditional BJP stronghold
Bommai's image has taken a beating since he became the CM in 2021. His inability to check mismanagement and corruption in the government — something he himself has been accused of — has put a blot on his career.
INDIA
PM Modi to launch India's first Water Metro on April 25: All you need to know
Water Metro is a unique urban mass transit system with the same experience and ease of travel as that of conventional metro system. Here are more details on the new project.
BUSINESS
Zepto appoints CoinSwitch's Ramesh Bafna as its new CFO
Bafna will take over the role from Jitendra Nagpal in Zepto around mid-May.
