Equity benchmarks continued to face heavy drubbing on Monday, with the Sensex tumbling over 713 points in early trade, following a sell-off in global markets and decline in shares of index major Reliance Industries. Unabated foreign fund outflows and firm crude oil prices also continued to weigh on sentiment. The 30-share BSE Sensex tanked 713.49 […]
The Serum Institute of India’s Adar Poonawalla on Sunday reached out to world’s richest person Elon Musk on Twitter as he made a suggestion to the Tesla boss “on the best investment you’ll ever make”. “Hey @elonmusk just in case you don’t end up buying @Twitter, do look at investing some of that capital in […]
The central government on Thursday raided top Amazon sellers Cloudtail and Appario over alleged violation of competition laws, news agency Reuters said citing sources with direct knowledge of the matter. The raids are being conducted by the Competition Commission of India. Amazon, which has an indirect equity stake in both sellers, did not immediately respond to […]
Ola Electric is recalling 1,441 units of its electric two-wheelers in the wake of incidents of vehicles catching fire, according to a company statement. The company said its investigation into the fire incident on March 26, in Pune, is ongoing and preliminary assessment found that it was an isolated one.However, it said, “As a pre-emptive […]
Tesla chief executive Elon Musk has offered to buy social media microblogging site Twitter for about $41 billion cash, this days after the billionaire rejected an offer to join its board. According to the analysts, a board berth would have limited his stack to just under 15 per cent in the company. While making the […]
Telecom regulator TRAI on Monday recommended a 35 per cent cut in the reserve price for prime 5G spectrum frequencies in 3300-3670 MHz band, at Rs 317 crore per MHz. Releasing its much-awaited recommendations, TRAI said that all available spectrum in the existing bands of 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, […]
Twitter’s top stakeholder Elon Musk won’t be joining the board, company’s chief executive officer Parag Agarwal said on Monday. In a statement posted on Twitter, Agrawal said that the board offered him a seat after several discussions and believed that Musk as a fiduciary of the company was the best path forward. He added that […]
In a fresh battle, BharatPe founder and former managing director Ashneer Grover has threatened a legal action against CEO Suhail Sameer and the board for his comments on professional networking platform LinkedIn against his sister Ashima Grover, along with seeking a resignation from Chairman Rajnish Kumar. In a letter written to BharatPe Board, Ashneer said […]
Equity benchmark Sensex fell over 200 points in early trade on Tuesday, tracking losses in index-heavyweights HDFC twins, Reliance and Infosys as profit booking emerged at higher valuations amid mixed global cues. The 30-share Sensex and the broader Nifty witnessed heavy volatility in initial deals.The 30-share BSE barometer was trading 212.43 points or 0.35 per […]
In the biggest merger in corporate history, India’s largest housing finance company HDFC Limited will merge with country’s largest private lender HDFC Bank to create a banking behemoth. Once the deal is effective, the HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent […]