India’s largest two-wheeler manufacturer, Hero MotoCorp Ltd, on Monday, June 24, announced that it would raise the ex-showroom prices of selected two-wheelers and scooters from July 1, 2024, to offset the impact of higher input costs. “The price revision will be up to ₹1,500,” said the company in a BSE filing. The exact amount of … Read more
Mumbai: Lenders to a bankrupt Reliance Capital have filed an affidavit before the National Company Law Tribunal (NCLT) opposing the 90-day extension sought by the Hinduja group-owned IndusInd International Holdings Ltd (IIHL) to implement its resolution plan. In a recent affidavit filed before the bankruptcy tribunal, the committee of creditors (CoC) cited a slew of … Read more
Bharti Airtel is in talks with Vodafone Plc to take an additional 3 per cent stake in Indus Towers, India’s largest mobile tower installation company. If the talks come to fruition, Bharti Airtel will have a controlling 52 per cent stake in the tower company, reported CNBC-TV18 citing anonymous sources. Vodafone sold 18 per cent … Read more
Amsterdam:European Union antitrust regulators charged on Monday that Apple breached the bloc’s tech rules, a charge that could result in a hefty fine for the iPhone maker which also faces another investigation into new fees imposed on app developers. The European Commission, which is also the EU’s antitrust and technology regulator, said it had sent … Read more
Tech billionaire Jack Dorsey, most famous for founding Twitter (now X), has warned that in the next five to ten years, people will be unable to distinguish between what’s real and what’s fake. “Don’t trust; verify,” he advised. “You have to experience it yourself. And you have to learn yourself. This is going to be … Read more
Paytm is partnering with travel aggregators such as Skyscanner, GoogleFlights, Wego to expand its travel segment, the company said in a stock filing report. It is planning to partner with other international aggregators such as Cambodia Angkor Air, SalamAir and FlyDubai. The filed a Disclosure under regulation 30 of SEBI The company has reported that … Read more
Dutch investor Prosus Ventures has written off its $530-million investment in Byju’s, amid a legal standoff between the troubled online tutor and some of its once-enthusiastic institutional backers. Prosus and other investors in Byju’s, including PeakXV Ventures, General Atlantic and Sofina, are fighting a battle to oust Byju Raveendran as the chief executive of the … Read more
Sony Pictures Networks India (SPNI) has appointed Gaurav Banerjee as its new managing director and chief executive, effective on or before 26 August. Banerjee will succeed NP Singh, who stepped down last month after a 25-year tenure. Mint had first reported that Sony would hire Banerjee to replace Singh on 28 May. Banerjee previously served … Read more
The Hindenburg report allegations were baseless, said Gautam Adani in the Annual General meeting of Adani Enterprises on Monday. “We were faced with baseless accusations made by a foreign short seller that questions our decades of hard work,” Adani said. Adani, however, did not name the short seller. “Typical short sellers target gains from the … Read more
Founded by Sandeep Tandon, Quant Mutual Fund got its MF license from the markets regulator in 2017 and is the fastest-growing mutual fund in the country with over ₹90,000 crore of assets under management (AUM). Issuing a clarification, the company said it is “fully committed to co-operate with the regulator” and “will provide all necessary … Read more
Market regulator Securities and Exchange Board of India (SEBI) has conducted search operations at two premises of Quant Mutual Funds on suspicion of front-running. SEBI has conducted search operations at Quant’s head office in Mumbai and Hyderabad. Suspecting front-running transactions by a dealer or a brokerage, SEBI questioned Quant Mutual fund dealers and persons … Read more
Actor Rana Daggubati has launched a new tequila with south Indian musician Anirudh Ravichander and Sree Harsha Vadlamudi, owner of microbrewery Ironhill India. The three have invested a combined $10 million in the company, Ironhill Hospitality Pvt Ltd. The tequila, called Loca Loka, will be made from 100% agave grown in the Jalisco region of … Read more