Business

Hyderabad: LIC IPO in its current form will lead to a loss of more than Rs 50,000 crore as the current share price band severely undervalues the insurance behemoth, said People’s Commission on Public Sector and Public Services (PCPSPS). In a statement, it termed the LIC IPO as nothing short of a scandal and perhaps […]

New Delhi: Ola Electric has grabbed the top spot in the fast-growing electric vehicle (EV) market in India, in just five months of launching its first e-scooter. According to the government’s Vahan portal data, Ola registered 12,689 e-scooter units in April, higher than the previous segment leader, Hero Electric. Ola registered 39 per cent growth […]

Hyderabad: US-based supplier of tools and equipment Northern Tool Equipment, which had set up its tech centre in Hyderabad in 2021 in partnership with ANSR, is on the way to double its India headcount. The Global Capability Centre (GCC) of Northern Tool Equipment has various capabilities like finance, information technology, marketing, and data analytics along […]

New Delhi: Adani group company, Adani Wilmar has announced it would acquire popular rice brand Kohinoor from McCormick Switzerland GMBH. The takeover will give Adani Wilmar an exclusive rights over the brand Kohinoor Basmati rice along with a’Ready to Cook’, ‘Ready to Eat’ curries and meals portfolio under the Kohinoor Brand umbrella in India, it […]

Bengaluru: Sonata Software is delighted to announce that Roshan Shetty is joining the company as Chief Revenue Officer, responsible for sales of its services business, globally. Roshan will be based out of the UK. In executing its aggressive growth strategy, Sonata has been investing in senior talent, especially located in its major markets to serve […]

Mumbai: Ten-minute delivery platform Zepto on Tuesday said it has raised $200 million, taking its valuation to around $900 million. Just nine months after launching, Zepto posted a record 800 per cent revenue growth in the last quarter. “We maintained a phenomenal 88-point NPS (net promoter score) and 60 per cent ‘month-1 buyer retention’ at […]

Hyderabad: There has been a growth in investors looking to invest in mutual funds, stocks and IPOs and Hyderabadis seem to have joined the bandwagon. As per a new survey by an investment platform, more than half of investors in Hyderabad prefer investing in mutual funds and the rest are betting big on stocks and […]

New Delhi: India on Monday welcomed its 100th unicorn, which is Bengaluru-based neobank platform Open, that raised fresh funds as part of its Series D round, taking its valuation to $1 billion. The new round was led by Mumbai-based investment firm IIFL and existing investors Tiger Global, Temasek and 3one4 Capital also participated in the […]

New Delhi: The unbearable heat during summers is beyond our control. But the thing under our control is the room temperature if we have a good air conditioner. Now if you are planning to buy an AC but are worried about the high electricity bills, then relax and take a deep breath. The following list […]

Mumbai: Benchmark equity indices continued to remain weak on Monday, with the Sensex tumbling over 648 points in early trade, tracking selling in index majors Infosys, Reliance Industries and HDFC Bank along with muted global trends. The 30-share BSE benchmark was trading 648.25 points lower at 56,412.62. The NSE Nifty declined 185.3 points to 16,917.25. […]

Mumbai: The rupee appreciated 6 paise to 76.44 against the US dollar in opening trade on Monday amid a pullback in global crude prices. However, a weak trend in domestic equities and a strong dollar in the overseas market capped the rupee’s gains, forex traders said. At the interbank foreign exchange, the rupee opened strong […]

New Delhi: Tata Motors is looking to drive in a range of electric vehicles across various price points with multiple body styles and features in order to cater to a wide range of customers across segments, as per a top company official. The homegrown auto major, which currently leads the domestic electric passenger vehicle segment […]

New Delhi: As the Indian users look for trusted, reliable and long-performing handsets in mid-price range, Samsung has unveiled a range of such smartphones this year, including the all-new Galaxy M53 5G. The smartphone, which is said to offer flagship-inspired features, is priced at Rs 23,999 for the 6GB+128GB and Rs 25,999 for the 8GB+128GB […]

New Delhi: The price of a 19-kg commercial LPG cylinder has been increased by Rs 102.50 on Sunday, which now costs Rs 2,355.50 against the earlier price of Rs 2,253. The 5-kg LPG cylinder is now priced at Rs 655. Earlier on April 1, the price of 19-kg commercial LPG was hiked by Rs 250 […]

San Francisco: The ongoing Covid-19 lockdowns in China are set to make a huge dent in Apple revenue for the April-June quarter as the company has indicated up to $8 billion loss in sales especially owing to the Shanghai lockdown. As Shanghai entered the second month of lockdown and more cities in China face pandemic […]

San Francisco: Apple now has more than 825 million paid subscriptions across Services, up 165 million in the last one year. The iPhone maker said that its Services revenue reached $19.8 billion — a 17 per cent increase (year-over-year). Apple’s Services category includes App Store, Apple TV+, Apple Music, cloud services. During the last 12 […]

San Francisco: After posting disastrous results for its March quarter, streaming giant Netflix has reportedly laid off several experienced journalists and writers working for its entertainment site Tudum which it launched only in December last year. The layoffs come just days after Netflix’s earnings report for the first quarter (Q1) where it lost subscribers for […]

Mumbai: The rupee witnessed a range-bound trading in early trade on Friday as the strength of the dollar in the overseas market and elevated crude oil prices offset the support of positive domestic equities. At the interbank foreign exchange, the rupee opened at 76.62 against the American dollar and moved in a narrow range. It […]

Mumbai: Equity benchmark indices opened in green on Friday with Sensex up by 340.13 points and Nifty by 92.70 points. At 9:28 AM, the BSE Sensex was up by 340.13 points or 0.59 percent at 57,861.19. BSE Limited, also known as the Bombay Stock Exchange, is the oldest stock exchange in Asia, and also the […]

Detroit: Elon Musk has sold 4.4 million shares of Tesla stock worth roughly $4 billion, most likely to help fund his purchase of Twitter. Musk reported the sale in a filing with the Securities and Exchange Commission on Thursday. The shares were sold over the past few days, at prices ranging from $872.02 to $999.13. […]

New York: Meta surged 17.6 per cent on Thursday after a buoyant update for the first time since Q4 in February had sent the stock reeling 26 per cent, its worst-day ever. Facebook changed its name to Meta in October 2021, reflecting CEO Mark Zukerberg’s faith in a future of working, playing and studying in a […]

New York: Apple revenue grew nearly 9 per cent on an annual basis in the quarter ending March, with the company bucking investor worries that a deteriorating macroeconomic environment will hurt demand for high-end smartphones and computers. Stocks fell nearly 4 per cent in extended trading after initially rising. Apple Chief Financial Officer, Luca Maestri […]

Hyderabad: Even as the mega IPO of insurance behemoth LIC is set for launch on May 4, serious doubts are being raised about deliberate undervaluation to benefit foreign investors. Investors would get to buy big stakes at heavily discounted prices. On the other hand, various reports indicate that the sale at the current price band […]

Hyderabad: Insurance behemoth, Life Insurance Corporation of India’s initial public offering (IPO) will open on May 4. The government owns 100 per cent stake in LIC, whose total equity is around 632 crore shares. The issue size of the IPO is 22.13 crore shares, which is 3.5 percent of the total number of shares. Its […]