BUSINESS

    Swiggy IPO makes 500 employees ‘crorepatis’; unlocks Rs 9,000 cr worth of ESOPs

    On Wednesday, shares of Swiggy were listed with a premium of nearly 8 per cent against the issue price of Rs 390 on NSE. New Delhi: Swiggy‘s much-anticipated stock market debut on Wednesday catapulted over 500 current and former employees to the “crorepati” club, with the food delivery and quick commerce major’s listing poised to unlock Rs 9,000 crore in ESOPs for 5,000 staffers, people aware of the details said. Swiggy’s initial share sale had a price range of Rs 371-390 a share. “The total Employee Stock Option Plan (ESOP) pool is worth Rs 9,000 crore, with 5,000 past as well as present employees holding them. At the upper price range of the initial share price (Rs 390), 500 employees out of the 5,000 are set to become crorepatis,” a person in the know shared the details requesting anonymity. On Wednesday, shares of Swiggy were listed with a premium of nearly…
    BUSINESS

    Indian markets slide on heavy selling in Reliance, HDFC bank

    During intra-day trading, the Sensex dropped by 530 points, or 0.67%, reaching 78,158, while the Nifty fell by 180 points, or 0.76%, to 23,702. The Sensex also hit an intra-day low of 77,959 during the session. Mumbai: Indian equity indices traded in deep red on Wednesday due to large selling in the heavyweights like Reliance Industries and HDFC Bank, among others. Sensex was down 530 points or 0.67 per cent at 78,158 and Nifty was down 180 points or 0.76 per cent at 23,702 during the intra-day trading In the trading session, Sensex made an intra-day low of 77,959. The market trend also remained negative. On the National Stock Exchange (NSE), 289 stocks were in the green and 2,163 stocks were in the red. Due to heavy selling, the market capitalisation of all listed companies on the Bombay Stock Exchange (BSE) declined by over Rs 6 lakh crore to Rs 430…
    BUSINESS

    Amid diversification push, Apple plans research subsidiary in India

    The research and development facility would reportedly focus on research, design, testing and providing support to third-party manufacturers New Delhi: Firming up its India presence as Apple diversifies its vast supply chain and research outside of China, the iPhone maker has set up a new research and development subsidiary in the country. The research and development facility would reportedly focus on research, design, testing and providing support to third-party manufacturers. The move to establish a R&D facility in India is significant as this will help the tech giant connect better with the local manufacturing ecosystem player, original equipment manufacturers (OEMs) and create India-specific products and solutions, according to industry players. Apple currently have R&D facilities in the US, China, Germany and Israel. The company did not immediately comment on its India future plans regarding research and development. According to Prabhu Ram, VP-Industry Research Group, CyberMedia Research (CMR), just as China powered Apple’s growth in the past, India is…
    BUSINESS

    Ola Electric launches ‘BOSS of All Savings’ amid record EV sales

    Through the ‘BOSS of All Savings’ offer, Ola Electric is allowing customers to save up to Rs. 15,000 on the purchase of an Ola S1, with potential annual savings of up to Rs. 30,000 due to lower running and maintenance costs compared to an ICE vehicle. Hyderabad: Ola Electric announced the ‘BOSS of All Savings’ as part of its ongoing Biggest Ola Season Sale (BOSS) campaign. The festive season has been remarkable for the EV industry with EV 2W registrations witnessing impressive growth in October 2024 led by Ola Electric, pointing to an increased consumer awareness of the benefits/savings associated with EVs over ICE vehicles. As part of the ‘BOSS of All Savings’ proposition, the company is now providing an opportunity to save up to Rs.15,000on the purchase of an Ola S1 and further up to Rs.30,000 annually with lower running and maintenance costs compared to an ICE vehicle. With the…
    BUSINESS

    Apple iPhone 15 becomes best-selling smartphone globally in Q3 2024

    Samsung maintained the biggest presence in the global top-10 best-selling smartphones list with five spots, followed by Apple with four and Xiaomi with one, according to Counterpoint Research’s Global Handset Model Sales Tracker. New Delhi: Apple iPhone 15 has become the best-selling smartphone globally in the third quarter (Q3) this year, followed closely by iPhone 15 Pro Max and iPhone 15 Pro, according to a report on Thursday. Samsung maintained the biggest presence in the global top-10 best-selling smartphones list with five spots, followed by Apple with four and Xiaomi with one, according to Counterpoint Research’s Global Handset Model Sales Tracker. While Apple’s share of the top-10 list has declined slightly, Samsung’s presence has grown to keep the combined market contribution of the top 10 smartphones at around 19 per cent. “The growing consumer preference for high-end smartphones is gradually narrowing the market share gap between the iPhone’s base and Pro variants,” the…
    BUSINESS

    Ola Electric launches ‘BOSS of All Savings’ amid record EV sales

    Through the ‘BOSS of All Savings’ offer, Ola Electric is allowing customers to save up to Rs. 15,000 on the purchase of an Ola S1, with potential annual savings of up to Rs. 30,000 due to lower running and maintenance costs compared to an ICE vehicle. Hyderabad: Ola Electric announced the ‘BOSS of All Savings’ as part of its ongoing Biggest Ola Season Sale (BOSS) campaign. The festive season has been remarkable for the EV industry with EV 2W registrations witnessing impressive growth in October 2024 led by Ola Electric, pointing to an increased consumer awareness of the benefits/savings associated with EVs over ICE vehicles. As part of the ‘BOSS of All Savings’ proposition, the company is now providing an opportunity to save up to Rs.15,000on the purchase of an Ola S1 and further up to Rs.30,000 annually with lower running and maintenance costs compared to an ICE vehicle. With the…
    BUSINESS

    Gold, Silver prices drop post-US election

    The India Bullion and Jewellers Association Ltd (IBJA) reports that 24-carat gold is priced at Rs 76,570 per 10 grams, 22-carat at Rs 74,720, 20-carat at Rs 68,130, and 18-carat at Rs 62,201 per 10 grams. New Delhi: Gold prices continue to fall after the US presidential election and on Thursday, the December future contracts of gold on MCX opened with a decline of 0.37 per cent at Rs 76,369 per 10 grams, while silver December future contracts were trading 0.24 per cent low at Rs 90,601 per kg. After the US elections, in the last two days, gold prices have fallen by Rs 2,100 per 10 grams and silver prices by Rs 4,050 per kg. According to the India Bullion and Jewellers Association Ltd (IBJA), the price of 24-carat gold is Rs 76,570 per 10 grams, the price of 22-carat gold is Rs 74,720 per 10 grams, the price of 20-carat…
    BUSINESS

    Supreme Court orders liquidation of Jet Airways

    A Bench led by Chief Justice D.Y. Chandrachud upheld the lenders’ plea opposing the transfer of ownership of the grounded airline to the Jalan Kalrock Consortium (JKC). The Bench, which also included Justices J.B. Pardiwala and Manoj, used its extraordinary powers under Article 142 of the Constitution to ensure “complete justice” between the parties, ordering the immediate appointment of a liquidator. New Delhi: The Supreme Court on Thursday ordered liquidation of cash-strapped Jet Airways, saying that the resolution plan, approved five years ago, is no longer capable of implementation. A Bench, headed by CJI D.Y. Chandrachud, allowed the lenders’ plea against the transfer of ownership of the grounded airline to Jalan Kalrock Consortium (JKC). The Bench, also comprising Justices J.B. Pardiwala and Manoj, invoked its extraordinary powers under Article 142 of the Constitution “for doing complete justice” between the parties and ordered the appointment of a liquidator forthwith. Further, it ordered the forfeiture…
    BUSINESS

    Apple-Globalstar $1.5 billion deal disrupts connectivity market, report says

    Emma Mohr-McClune, Chief Analyst for Technology at GlobalData, stated that this is likely the largest and most impactful consumer OEM low-Earth-orbit (LEO) deal to date. The agreement positions Apple as the clear leader among Western OEMs for offering extended direct satellite texting and calling services, catering to both emergency and remote use cases. New Delhi: The $1.5 billion Apple-Globalstar deal packs a competitive punch for virtually all corners of the connectivity market ecosystem, from carriers to original equipment manufacturers (OEMs), according to a report on Wednesday. Apple plans to invest $1.1 billion in satellite communications company Globalstar, alongside a further $400 million for a 20 per cent equity stake in the business. According to Emma Mohr-McClune, Chief Analyst, Technology at GlobalData, this is arguably the largest and most significant consumer OEM low-Earth-orbit (LEO) deal to date, and the arrangement puts Apple in a clear leading position among western OEMs for extended direct and…
    BUSINESS

    Hyderabad-based Marut Drones secures $6.2 million in Series A funding

    The company aims to recruit professionals across all verticals, foster drone entrepreneurship, launch 17 new drone academies and enhance its research and development efforts in partnership with leading institutions Hyderabad: Marut Dronetech, a leading drone technology company with DGCA certification for manufacturing and training has raised $6.2 million in Series A funding from Lok Capital. Marut Drones plans to allocate funds towards several key initiatives, including the development of advanced agricultural drones tailored to customer needs, expanding its channel partner network and service centers into Tier 2-3 cities to better serve rural customers, and establishing drone agriculture service hubs to offer Drone-as-a-Service with a partnership approach, a press release said. The company also aims to recruit professionals across all verticals, foster drone entrepreneurship, launch 17 new drone academies to train skilled professionals and enhance its research and development efforts in partnership with leading institutions. Hari Krishnan, Director of Lok Capital said drones…

    BUSINESS

    • Jan- 2023 -
      11 January
      404

      Hyundai Motor India opens bookings for Grand i10 NIOS

       Hyundai Motor India Ltd. has opened bookings for the new Grand i10 NIOS – A perfect new-age hatch for young India. Conceptualized to give new-age customers ‘More to life’, the new Grand i10 NIOS is set to amplify experiences with a distinct appeal for the spirited youth of India. Customers can now book the new Grand i10 NIOS for INR 11,000/- at Hyundai Dealerships across India or by visiting https://clicktobuy.hyundai.co.in/#/bookACar?modelCode=HQ. In its updated avatar, the Grand i10 NIOS has received a significant redesign in terms of exterior styling with an ameliorated facade with painted black radiator grille, LED daytime running lamps (DRLs) integrated on a sleek looking body coloured front bumper, a press release said. Tarun Garg, COO, HMIL, said “The new…

      Read More »
    • 9 January
      282

      Gautam Adani says regrets not completing college education

       He dropped out of formal education at the age of 16 in 1978 to take a train to Mumbai to try his luck and three years later made his first killing — a Rs 10,000 commission doing a diamond trade with a Japanese buyer. That marked the beginning of the entrepreneurial journey of Gautam Adani, now Asia’s richest man. He, however, regrets not finishing college, saying early experiences made him wise but formal education rapidly expands one’s knowledge. Speaking at the 75th year celebrations of Vidya Mandir Trust Palanpur in Gujarat, Adani recounted his phenomenal journey that has made his group the world’s largest solar power company, largest airport and seaport operator in India, nation’s largest integrated energy player, country’s…

      Read More »
    • 6 January
      271

      Amazon founder Jeff Bezos loses almost $1 billion, a day after company fired 18 thousand employees

      Amazon is currently sailing through the uncertainty of the economic slowdown. Just like other tech companies around the world, the Seattle-based firm has been greatly impacted by the ongoing wave of recession. And to curb the falling revenue, Amazon has decided to follow the path of cost-cutting by sacking thousands of employees from its global workforce. The tech giant already fired thousands of employees last year and is now all set to cut down more workforce in January. However, amid all the firings, the company saw a big dip in its share prices which directly impacted the net worth of its founder, Jeff Bezos.  According to the Bloomberg Billionaires Index which tracks the real-time net worth of riches, Jeff Bezos…

      Read More »
    • 5 January
      323

      Biden administration proposes higher US visa fees, steep hikes for H-1B and EB-5 applications

       The Joe Biden administration has proposed significantly higher fees for many non-immigrant employment-based visas such as H-1B and also L visas (for those on intra-company transfers). These fees are borne by the US employer and will increase the costs of hiring immigrant employees. Those seeking investment-linked green cards, will now have to cough up $11,160 for the initial application itself – a rise of 204%. The fee-proposals released by the US Citizenship and Immigration Services (USCIS), late night on Tuesday, are contained in an exhaustive document running into 469 pages. However, the fee hike will not be introduced immediately. As per the administrative procedural requirement there is a 60-day period for inviting public comments, the entire process running up to…

      Read More »
    • 4 January
      330

      Are unfinished stories Netflix’s biggest drawback?

       Everybody we know curls their toes when they receive spoilers for their favourite shows. But what if the shows we were damn invested in, don’t end up having another season? If online reactions to the latest ‘1899’ news are to be believed, it is disastrous and heartbreaking. In November 2022, Netflix aired a series called ‘1899’. The show, although was not an instant hit, received critical appreciation from fans. Creators Jantje Friese and Baran bo Odar told a gripping story of an immigrant ship headed from London to New York in 1899 that encounters mysterious events. Today, it was announced that Netflix will be benching the series and will no longer invest in its second and third seasons, as originally planned by…

      Read More »
    • 4 January
      408

      Elon Musk 1st person in world to lose $200 billion in net worth: Report

      If you have lost money in shares recently, read this. Tesla and Twitter CEO Elon Musk has become the first person ever to lose $200 billion from his net worth, and is still making jokes on the micro-blogging platform. According to a Bloomberg report, Musk has now seen his wealth drop to $137 billion following a recent drop in Tesla shares. The shares of his electric car company are down nearly 65 per cent. In January 2021, Musk became the richest person in the world for the first time, with a net worth of more than $185 billion. Musk saw his fortune peak in November 2021, hitting $340 billion, before a massive drop. Last month, he was replaced by Bernard…

      Read More »
    • 3 January
      349

      Money management is a lifeskill for teens

      Teenagers have hardly been given any real exposure to financial literacy. Boosting their financial knowledge at school level will define the way they value money, Mukund Rao, Co-Founder of teen-centric pocket money app Muvin tells Telangana Today. Financial literacy for teens is highly underrated. Even at home, personal finance or money management is rarely discussed with children. Banks largely classify them as being unprofitable- until they turn 18 and start seeking loans for higher education. It is unfortunate that they enter into their adulthood having minimal or no knowledge of matters related to personal finance. Dependence on parents Despite being tech savvy, India’s teenage population does 80% of their financial transactions in cash or depends on parents’ debit cards or…

      Read More »
    • 2 January
      252

      ‘Hope they had a BANGING new year’, Durex India replies to Swiggy after massive condom sale on New Year’s Eve

      Durex India has commented on Swiggy’s tweet that mentioned the high demand of condoms from Swiggy Instamart during New Year’s eve. Durex thanked Swiggy for delivery people condoms. It quipped and said at least 2757 were having a banging new year. It further stated it hoped they ordered coffee together next day morning. Earlier Swiggy posted on its official twitter handle and wrote, “2757 packets of  @DurexIndia condoms delivered by  @SwiggyInstamart so far. please order 4212 more to make it 6969, so we can all say “nice”.” Following the Durex India’s comment, Swiggy Instamart replied and said people who had ordered those 2757 condoms were probably not reading that right now. 2757 packets of @DurexIndia condoms delivered by @SwiggyInstamart so…

      Read More »
    • Dec- 2022 -
      30 December
      317

      Amazon joins YouTube, Apple in investing on live sports content

      Amazon has joined the bandwagon of incorporating sports content in its operations. According to a report by US-based tech portal, TechCrunch, citing The Information, the e-commerce giant is developing an app dedicated to sports content. The move hints at Amazon‘s focused action towards investing in Prime Video and live sports content. The report follows the multinational company’s CEO, Andy Jassy referring to live sports as ‘a unique asset’ at an event in New York. Currently, the technological giant holds the exclusive rights for NFL’s Thursday Night Football. It also showcases some Premier League soccer matches and Yankees baseball games, as per TechCrunch. The company recently also launched some talk-shows on sports which are featured on both Prime Video and its ad-supported streaming platform…

      Read More »
    • 27 December
      351

      Ashneer Grover earned Rs 2.25 crore in just 8 minutes, here’s how

      Ashneer Grover, Former BharatPe MD, earned a nice Rs 2.25 crore in 8 minutes during Zomato’s massive IPO on the stock market in 2021. In his autobiography, “Doglapan: The Hard Truth about Life and Start-Ups,” the former judge on “Shark Tank India” described how he used leverage to generate massive amounts of money in a matter of minutes. “However, the case included straightforward leverage—IPO financing. While I put up Rs 5 crore from my own money, Kotak Wealth secured me finance for Rs 95 crore at a weekly interest rate of 10%. (the period for which IPO funds get blocked). This additional expense of Rs 20 lakh in interest was incurred to purchase the shares,” Ashneer Grover wrote in the…

      Read More »
    Previous page Next page
    Back to top button

    Notice: ob_end_flush(): Failed to send buffer of zlib output compression (0) in /home4/eveningd/public_html/wp-includes/functions.php on line 5464