Reliance Industries Hits Rs 20 Lakh Cr Market Cap
Reliance Industries Ltd (RIL), the oil-to-telecom conglomerate led by billionaire Mukesh Ambani, has achieved a historic milestone by becoming the first Indian listed company to cross the Rs 20 lakh crore market capitalisation mark on Tuesday. The stock of RIL surged 1.88 per cent to hit a record high of Rs 2,918 on NSE and […]
Bharat Electronics Secures ₹2,167 Cr Navy Order
Bharat Electronics Ltd. (BEL), a Navaratna company, has clinched a significant order valued at ₹2,167 crore from the Indian Navy for the supply of an advanced electronic warfare suite designed for deployment on-board warships. The contract was signed on February 13, 2024, according to a regulatory filing by the company. What is the electronic warfare […]
SpiceJet to Lay Off 1,000 in Cost-Cutting Move
SpiceJet, one of India’s leading low-cost airlines, has announced that it will lay off around 1,000 employees, or 15% of its workforce, as part of its cost-cutting and turnaround strategy. The move comes after the airline received a fresh infusion of funds from an undisclosed investor. The airline said that the layoffs will help it […]
SpiceJet to lay off 1,400 employees in cost-cutting measure
SpiceJet, one of India’s leading low-cost carriers, has announced that it will lay off 1,400 employees, which accounts for about 15% of its workforce. This move is aimed at reducing costs and attracting investors, as the airline has been facing financial challenges amid the pandemic. SpiceJet lay off due to salary delays and funding concerns […]
Cognizant First Odisha Office Opened by Patnaik
Odisha, a state in eastern India, has been witnessing a surge of investment, talent and innovation in the IT sector. On Sunday, February 11, 2024, the state added another feather to its cap when Chief Minister Naveen Patnaik inaugurated the first facility of Cognizant, one of the world’s leading IT and consulting companies, in Bhubaneswar. […]
Paytm Under Lens: India Probes Chinese FDI Flow
Paytm, India’s leading digital payments platform, is facing scrutiny from the government over its foreign direct investment (FDI) from China. According to sources, the government is examining the FDI from China in Paytm Payments Services Ltd (PPSL), the payment aggregator subsidiary of One97 Communications Ltd (OCL), which owns Paytm . Paytm and Press Note 3 […]
JSW Sparks ₹40,000 Crore EV Engine in Odisha
JSW Group, one of India’s leading conglomerates, has announced its entry into the electric vehicle (EV) sector with a massive investment of Rs 40,000 crore in Odisha. The group has signed a memorandum of understanding (MoU) with the Odisha government to set up an integrated EV and EV battery manufacturing project at Cuttack and Paradip. […]
Tata Group ₹30L Cr and TCS’s ₹15L Cr Market Cap Milestones
The Tata Group has achieved a historic milestone by surpassing a market capitalization of ₹30 lakh crore, making it the first Indian conglomerate to do so. This remarkable increase in market value is attributed to strong performances by Tata Consultancy Services (TCS), Tata Motors, Tata Power, and Indian Hotels in 2024. TCS leads the way […]
Cactus Venture Partners raises Rs 630 for Startup Fund
Cactus Venture Partners closes maiden fund at Rs 630 crore Cactus Venture Partners, an India-focused early growth stage venture capital firm, has announced the final close of its maiden fund at Rs 630 crore ($75.8 million). The fund will invest in startups in health tech, climate tech and B2B SaaS sectors, with a cheque size […]
Kotak Mahindra GI 70% Stake Bought by Zurich Insurance
Zurich Insurance Company Ltd., a leading global insurer, has received approval from the Competition Commission of India (CCI) to acquire up to 70% stake in Kotak Mahindra General Insurance Company Ltd. (Kotak Mahindra GI), a subsidiary of Kotak Mahindra Bank Ltd. The deal is expected to be completed by June 30, 2024. Background of Kotak […]