India’s First 10GW: Adani Green’s Milestone
Adani Green Energy Limited (AGEL) has cemented its position as a frontrunner in India’s clean energy revolution by achieving a landmark accomplishment – surpassing a significant 10,000 megawatts (MW) of operational renewable energy capacity. This remarkable feat marks a pivotal step in India’s journey towards a sustainable future, significantly boosting the nation’s progress in clean […]
Lemonn: PeepalCo’s New Investor App
PeepalCo, the financial services powerhouse behind the popular crypto exchange CoinSwitch, is shaking things up in the Indian stock market (estimated at $3.5 trillion as of April 2024) with the launch of its new app, Lemonn. Announced on April 2nd, 2024, Lemonn caters specifically to first-time investors, aiming to bridge the knowledge gap and make […]
Karnataka Bank Raises Rs 600 Cr via QIP: Boosts Stability
Karnataka Bank recently achieved a milestone by raising Rs 599.99 crore (nearly Rs 600 crore) through a Qualified Institutional Placement (QIP). This significant capital injection strengthens the bank’s financial muscle and propels its ambitious expansion plans. The successful QIP offering builds upon the bank’s previously announced Rs 1,500 crore capital raise program, which included preferential […]
Axis Bank-Max Life Agreement Receives CCI Clearance
The Competition Commission of India (CCI) has greenlit Axis Bank’s proposal to acquire a significant stake in Max Life Insurance Company. This move will see Axis Bank’s holding in Max Life surge from around 1% to approximately 9.9%, with the option to further acquire up to 7% in tranches, taking their total stake to 19.99%. […]
Byju’s Dismisses Employees Via Calls Amid Financial Crisis
Byju’s, the Indian education technology (edtech) major valued at $22 billion just two years ago, finds itself in hot water following reports that it terminated between 100 and 500 employees over phone calls, without proper notice or adherence to a performance improvement plan (PIP). This news comes as Byju’s grapples with ongoing financial difficulties exceeding […]
Zomato Receives ₹184 Cr Service Tax Penalty Notice
Online food delivery platform Zomato is locked in a tax battle with the Indian authorities. The company received a demand and penalty order for a staggering Rs 184 crore, a significant sum that they plan to vigorously contest. Service Tax and Penalty on Foreign Transactions The dispute centers on alleged non-payment of service tax between […]
T-Series’ Monthly Album, EP Releases Revealed
India’s music giant, T-Series, is rewriting the music release playbook with a groundbreaking strategy. In a move that capitalizes on the ever-evolving preferences of music consumers, the label announced a plan to unleash a tidal wave of fresh content – multiple Extended Playlists (EPs) and albums dropping every month. This ambitious initiative, spearheaded by Bhushan […]
FSSAI Directs: Avoid ‘Health’/’Energy’ Label on Malts
The Food Safety and Standards Authority of India (FSSAI) is taking a strong stance against misleading labeling practices on e-commerce platforms. In a recent directive, the regulatory body has instructed all online retailers to stop using the terms “health drink” or “energy drink” for products categorized as malt-based beverages. This move aims to ensure transparency […]
SBI Mutual Fund Invests in 3% of Savita Oil
In a move that ripples through the Indian financial landscape, SBI Mutual Fund, a giant in the domestic mutual fund industry, recently acquired a 3% stake in Savita Oil Technologies. This strategic acquisition underscores SBI Mutual Fund’s bullish sentiment on Savita Oil, a company that has been experiencing a stellar year. Savita Oil’s stock price […]
Kala Namak Rice Export Cap Set at 1,000 Tonnes by Govt
The Indian government, steering the world’s dominant rice industry with an annual production exceeding 135.5 million tonnes , has taken a calculated step towards introducing a new contender on the international rice scene. On Tuesday, they announced a shift in policy, permitting the export of up to 1,000 tonnes of Kala Namak rice. This aromatic, […]