Shriram Capital has appointed Subhasri as its new managing director and CEO. Previously serving as joint managing director, she will now lead the company from September 1. Subhasri, who joined Shriram Group in 1991, has played a key role in its growth and expansion, demonstrating dedication and cross-functional expertise, according to DV Ravi, executive vice chairman of Shriram Capital.
The Union Cabinet has approved 12 new industrial smart cities across various states, with a budget of Rs 28,602 crore to enhance domestic manufacturing. These cities aim to create jobs, attract investments, and support India's role in global value chains by offering robust infrastructure and ready-to-allot land for investors.
Berger Paints is targeting the next significant milestone of Rs 20,000 crore in sales by 2029, says Abhijit Roy, MD & CEO, Berger Paints.
Bharti Airtel and IndiGo stocks soared to new all-time highs on Wednesday, with Bharti Airtel reaching Rs 1,545.85 (up 1.5%) and IndiGo climbing to Rs 4,944.60 (up 4.2%). Other stocks hitting their 52-week highs include IEX, ICICI General Insurance, Indian Hotels, Lupin, MCX, and SBI Life Insurance Company.
PDS Ltd, a global fashion sourcing and manufacturing platform, has raised Rs 430 crore through a qualified institutional placement. The funds will support PDS's expansion into new markets and categories, enhancing its sourcing regions. The company operates in over 90 locations worldwide and reported consolidated revenue of Rs 10,370 crore for FY24.
Shares of Rana Sugars plunged 10% to hit a day's low of Rs 21 on the BSE following a two-year ban imposed by the market regulator on 14 entities, including the company's promoters. The Securities and Exchange Board of India (SEBI) also imposed a Rs 63 crore fine for charges of fund diversion.
Two contractual employees at Mahatma Gandhi Hospital in Jodhpur were arrested for allegedly raping a 15-year-old girl after she left home following an argument. The girl, found near the hospital canteen, revealed the assault to the police. CCTV footage helped identify the accused, who were later confirmed as sanitary workers.
TMC leader Abhishek Banerjee demands stricter anti-rape laws and threatens protests in Delhi if the Centre fails to act. He promises to move a private member's bill in the Lok Sabha for quicker trials. He criticizes the CBI's handling of high-profile cases in Bengal and questions BJP's stance on women's security.
Zomato's quick commerce platform, Blinkit, is expanding into smaller cities while continuing its focus on large metropolitan areas. Quick commerce platform’s growth in FY24 was primarily on account of addition of dark stores and products, Zomato chairman said.
Abhishek Gaoshinde says India's scrappage policy aims to transition from an unorganized to an organized system, providing incentives for replacing older vehicles with new ones to curb pollution and foster a recycled economy. The policy remains voluntary, with its success contingent upon the value perceived by vehicle owners opting for the scheme.
Tech hiring has been cautious recently, with even major tech firms reducing their workforce. However, the demand for IT professionals remains strong due to ongoing needs for updates, new features, and security patches, driven by advancements in AI, machine learning, and blockchain.
Bangladesh's new authorities on Wednesday lifted a ban on the country's largest Islamist party, Jamaat-e-Islami, imposed in the final days of the rule of now ousted autocrat Sheikh Hasina. Jamaat is one of the country's main political parties, along with the Bangladesh Nationalist Party.
India is considering raising import taxes on vegetable oils to help protect farmers facing lower oilseed prices. The decision, likely to be announced in the coming weeks, may reduce demand for palm oil, soyoil, and sunflower oil imports. The finance ministry's Department of Revenue will make the final determination.
Ather Energy has teamed up with Google to offer real-time data on fast charging stations for electric two-wheelers, the company announced Wednesday. Users can locate 'Ather Grid' fast chargers via Google Maps with live status updates. This move aims to encourage the broader adoption of electric vehicles in India, with 1,973 chargers already available nationwide.
Meituan, which has an app that provides services as varied as bike-sharing, ticket-booking and maps, reported revenue in the three months to June 30 at 82.3 billion yuan ($11.55 billion), up from 67.9 billion yuan in the same period a year earlier.
The Uttar Pradesh government has approved a new social media policy targeting influencers and creators. Influencers can earn up to Rs 8 lakh monthly for promoting government schemes based on their followers. It also enforces life imprisonment for those making anti-national or objectionable content, raising concerns about freedom of expression.
The Delhi High Court has directed the Centre to address a plea against the exclusion of penal provisions for unnatural sex and sodomy from the Bhartiya Nyaya Sanhita. The court emphasized the urgency of the matter, asking the government to decide within six months. The petitioner argued this exclusion affects LGBTQ communities disproportionately.
Reliance Industries' Annual General Meeting, scheduled for August 29, is highly anticipated. Investors are keen on updates regarding IPOs for Jio and retail businesses, along with announcements on the new energy sector. Key focus areas include earnings growth, operational efficiencies, and financial strategies that mark a significant transition phase for the conglomerate.
Indian banks are expected to increase cybersecurity spending due to rising online thefts and frauds. Currently, they spend significantly less on security compared to their global counterparts. The rapid digitalization, driven by the Unified Payments Interface, has unintentionally led to a surge in online frauds, making enhanced cybersecurity essential for maintaining consumer trust.
Uttarakhand Chief Minister Pushkar Singh Dhami announced that the Uniform Civil Code (UCC) will be implemented in the state before November 9, the foundation day of Uttarakhand. The UCC aims to establish a uniform set of personal laws for all citizens. The bill was passed by the Legislative Assembly in February.
Astronomers have discovered the brightest black hole in the known universe, named J0529-4351, using the European Southern Observatory’s Very Large Telescope. This quasar is the most luminous object observed, with a mass of 17 billion Suns. Its light journeyed over 12 billion years to reach Earth, providing significant insights into the universe's early stages.
Short covering happens when traders buy back shares they previously sold short, often due to a shift in market sentiment or new information.
