Independent directors at Power Finance Corporation Ltd. (PFC) have raised significant concerns about a recent loan approval to the Shapoorji Pallonji Group (SP Group). The loan, amounting to approximately ₹20,000 crores, has prompted scrutiny due to its allocation and collateral details. The issues are expected to be discussed in a board meeting scheduled for August 6, according to sources…
Swiggy Instamart, the quick commerce arm of the popular food delivery platform Swiggy, has announced the appointment of Sairam Krishnamurthy as its new Chief Operating Officer (COO). This strategic move comes as Swiggy prepares for its upcoming Initial Public Offering (IPO) and aims to enhance its operations and expansion efforts.
New Role and ResponsibilitiesIn his role as senior vice-president…
Maruti Suzuki, India’s largest automaker, is poised to launch its first electric vehicle (EV) within the current fiscal year. The company’s strategic move reflects its commitment to embracing new automotive technologies and expanding its eco-friendly offerings. In addition to the anticipated EV, Maruti Suzuki will continue to focus on promoting various alternative technologies, including…
Indian benchmark indices faced a sharp decline on Friday, influenced by weak global economic data and growing recession concerns. The BSE Sensex dropped by 885.60 points, or 1.08%, closing at 80,981.95. The NSE’s Nifty50 fell by 293.20 points, or 1.17%, ending the day at 24,717.70.
As the market braces for Monday’s trading session, key stocks are expected to be in focus:
Infosys: The IT giant…
Vodafone Idea (Vi) has expressed dissatisfaction with its competitors, Airtel and Reliance Jio, for providing what it claims is “unlimited” 5G data access to customers without additional charges. This complaint has been formally lodged with the Telecom Regulatory Authority of India (TRAI), accusing the rival telcos of engaging in predatory pricing practices.
Vi’s Concerns
According to The…
The recent security breach at WazirX, which led to the theft of over $230 million, has sparked a broader conversation within the crypto industry about the necessity of protecting customers’ assets. As a response, other cryptocurrency exchanges are exploring measures to secure wallets and provide reparations to affected clients. However, experts argue that traditional insurance solutions for…
Recent valuations reveal a significant shift in the media landscape, with Disney+ Hotstar and JioCinema now surpassing their parent companies’ traditional linear TV businesses in value. According to documents reviewed by ET, leading valuation firms EY and BDO have appraised Viacom18 and Star India at impressive figures, highlighting the growing dominance of digital streaming platforms.
Valuation…
The committee of creditors (CoC) for the bankrupt airline Go First has unanimously opted for liquidation, following disappointing bids from potential resolution applicants. A senior executive from a private bank, which holds minimal exposure to the airline, confirmed that the voting process is complete, and the airline is expected to be recommended for liquidation shortly.
The decision comes after…
As Gautam Adani prepares for a gradual exit from his role as chairman of the Adani Group, the spotlight is turning to potential successors who could steer the conglomerate into the next decade. Gautam Adani, currently 62, has mapped out a comprehensive succession plan aimed at ensuring a smooth transition of leadership to his sons and cousins by the early 2030s.
In an interview with Bloomberg…
Indian stock markets have faced a severe downturn today, with significant losses on both the Sensex and Nifty indices. The magnitude of the sell-off has been striking, wiping out investor wealth to the tune of Rs 10.24 lakh crore. The market capitalization fell from Rs 457.16 lakh crore in the previous session to Rs 446.92 lakh crore, underscoring a dramatic shift in investor sentiment and…
