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From Billion-Dollar Valuation To Zero: Byju’s Plunge Stuns Industry

08 Jun 2024 12:02 PM IST

This could be a shock to many, edtech firm Byju’s, which was once valued at $22 billion is now worth zero, according to a research note by financial firm HSBC. HSBC has assigned zero value to investment company Prosus’ nearly 10 per cent stake (or about $500 million) in Byju’s.

BSE And RBI Deny Technical Glitch Allegations On Election Results Day, Causing Mutual Funds To Loose Money

07 Jun 2024 22:18 PM IST

Broking platforms have alleged a potential glitch in the mutual fund system of the Bombay Stock Exchange (BSE) on the day of the national elections, which caused orders to be processed the following day after the market had rebounded, according to a report by ANI. Despite these allegations, BSE has

Sensex Reaches Record Highs Days After Post-Election Market Crash

07 Jun 2024 16:56 PM IST

The benchmark Sensex surged by over 1,720 points, marking a remarkable over 2% increase and reaching all-time intraday highs. This significant rise coincided with the Reserve Bank of India (RBI) revising its GDP growth projection for 2024-25 from 7% to 7.2%. The 30-share BSE Sensex soared by 1,720.8 points, hitting

Air India Express To Handle Both IGI & Hindon Airport

07 Jun 2024 16:16 PM IST

For the first time, Air India will make an entry into Hindon Airport, becoming the only airline to handle both Indira Gandhi International Airport (IGI) and Hindon Airport operations in NCR (National Capital Region). Through this move, it will improve connectivity to and from different cities in western UP, Uttarakhand

RBI announces digital payments intelligence platform to check online frauds

07 Jun 2024 15:05 PM IST

The Reserve Bank of India (RBI) has introduced a series of measures to enhance the safety and efficiency of digital payments and regulatory frameworks. These initiatives aim to promote innovation and inclusivity in the financial sector. Governor Das announced the establishment of a Digital Payments Intelligence Platform, leveraging advanced technologies

Chandrababu Naidu’s wife Nara Earns ₹579 Cr in 5 Days

07 Jun 2024 14:50 PM IST

During a remarkable five-day surge in the stock market, Nara Bhuvaneshwari, the spouse of TDP leader Chandrababu Naidu, amassed a staggering ₹579 crore as Heritage Foods’ stock experienced a substantial upswing. Despite the broader market downturn following the Lok Sabha election outcomes, Heritage Foods’ FMCG stock surged, propelled by Bhuvaneshwari’s

FPIs Withdraw Rs 18,109 Crore Amid June’s Market Fluctuations

07 Jun 2024 13:13 PM IST

Foreign portfolio investors (FPIs) made significant investments of Rs 6,850 crore on June 3 after the release of exit poll results but quickly turned into major sellers over the next four days amid volatile market conditions following unexpected poll outcomes. In June, FPIs withdrew a total of Rs 18,109 crore

Samsung workers strike, First-Ever Worker Strike in Company’s History

07 Jun 2024 13:08 PM IST

Samsung workers went on strike for the first time in the company’s history, particularly impacting its chip division. The strike, scheduled for a day, was a result of failed negotiations over wage increases and bonuses. The Nationwide Samsung Electronics Union, representing about 28,000 workers globally, reported nearly 75% in favor

RBI Projects 7.2% GDP Growth For FY 24-25, Keeps Repo Rate Unchanged At 6.5%

07 Jun 2024 12:28 PM IST

The Reserve Bank of India (RBI) has adjusted its GDP projection for the fiscal year 2024-2025, increasing it to 7.2% from the previous estimate of 7%. Concurrently, the Consumer Price Index (CPI) inflation forecast stands at 4.5%. These updates were unveiled by RBI Governor Shaktikanta Das during the announcement of

RBI Policy Meet Outcome: RBI Keeps Repo Rate Unchanged At 6.5%

07 Jun 2024 10:47 AM IST

The RBI’s Monetary Policy Committee (MPC) opted to maintain the repo rate at 6.50% on June 7, 2024. Consequently, there will be no immediate impact on real estate or home loan EMIs, as banks are unlikely to adjust their lending rates in the near future. The repo rate, administered by

Shaktikanta Das Set to Announce Monetary Policy at 10 AM Today

07 Jun 2024 09:21 AM IST

RBI Governor Shaktikanta Das is set to present the second bi-monthly monetary policy for 2024-25 at 10 am today. This announcement follows the conclusion of the RBI’s Monetary Policy Committee’s three-day meeting, which began on Tuesday and ends this morning. Apart from announcing MPC’s decision on the repo rate and

SBI And Muthoot Microfin Come Into A Co-lending Agreement To Empower Female Entrepreneurs

07 Jun 2024 04:10 AM IST

Muthoot Microfin has entered into a Co-lending agreement with the State Bank of India (SBI) to empower women entrepreneurs, according to a filing made to the exchange on Thursday. Following this partnership, Muthoot Microfin intends to provide financial services to women entrepreneurs in rural and semi-urban areas across India. Under