Adani Group chairman Gautam Adani on Tuesday said US-based short seller Hindenburg Research’s report against the conglomerate was an attempt at damaging the conglomerate’s image. He said that the short seller’s report was a combination of targetted misinformation and discredited allegations written by vested interests.Addressing the group’s Annual General Meeting 2023, the Indian billionaire said […]
Housing sales rose 8 per cent annually during the April-June period to 80,250 units across eight major cities, mainly on increased demand in Mumbai and Pune, according to PropTiger.Sales stood at 74,320 units in the year-ago period across primary (fresh sales) residential markets of the top eight cities. The housing brokerage firm on Wednesday released […]
SpiceJet has mobilised its plan to revive 25 grounded aircraft, the airline said on Wednesday. Funds for the revival will be drawn from the government’s Emergency Credit Line Guarantee Scheme (ECLGS) and better cash accruals, it said in a statement. “The airline has already mobilised around ₹400 crore towards getting its grounded fleet back in […]
In his monetary policy address, Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday announced a pilot project wherein a QR code-based coin vending machine will be launched for customers to draw coins through UPI payment instead of physical tendering of banknotes. The project will be launched in 12 cities and aims to benefit […]
Meta has said that it took down over 22.54 million pieces of content across 13 policies for Facebook and over 12.03 million pieces of content across 12 policies for Instagram in December 2022 in India.Between December 1-31, Facebook received 764 reports through the Indian grievance mechanism, and the company said it provided tools for users […]
Shares in Adani group of companies plunged on Thursday after Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, citing the need to insulate investors from potential losses.Total losses in stocks of 7 listed Adani group companies have hit $100 bln since Hindenburg report. Adani on Wednesday called off the share […]
Billionaire Gautam Adani has said the decision to withdraw a fully subscribed share sale of the flagship firm of his group was primarily because of volatility in the market.Adani Group company stocks have lost over US$ 90 billion in value since a US short seller made damning allegations. Adani Enterprises Ltd’s Rs 20,000 crore follow-on […]
There will be no income tax up to ₹7 lakh in the new tax regime, announced Union finance minister Nirmala Sitharaman in the Union Budget 2023 on Wednesday. “The government proposes to increase income tax rebate limit from ₹5 lakh to ₹7 lakh in the new tax regime,” said Sitharaman. Finance Minister announced Mahila Samman […]
India’s GDP will grow at a baseline value of 11% in nominal terms and 6.5% in real terms in 2023-24, according to the 2022-23 Economic Survey, which was tabled in Parliament on January 31. The survey, which pegged real growth in the rage of 6-6.8% depending on downside and upside risks, underlined the fact that […]
Dutch online marketplace OLX is laying off 15% of its global workforce or around 1,500 employees, joining a growing list of organisations that have laid off staff in recent days. “OLX is reducing its global workforce by 15% which affects staff across all countries, business units and job functions. We are taking necessary measures to […]