“Berkshire Hathaway’s Exit and RBI Restrictions Shake Paytm’s Market Standing” Warren Buffett’s Berkshire Hathaway has made a strategic exit from fintech firm One 97 Communications, the parent company of Paytm, in an open market transaction. This move comes two months ahead of the Reserve Bank of India’s recent order instructing Paytm Payments Bank to cease accepting fresh deposits from March. The ensuing market response witnessed a 20% drop in Paytm’s shares, raising...
Navigating India’s Fiscal Landscape: Insights from the Interim Budget In the final budget presentation before the Lok Sabha polls, Finance Minister Nirmala Sitharaman aimed to strike a balance between addressing the concerns of key voter blocs, particularly farmers and the underprivileged, while upholding fiscal responsibility. Sitharaman’s interim budget unfolded with measures targeting the enhancement of tourism, housing, and the adoption of renewable energy. However, the allocation for infrastructure development, including roads, ports,...
Apple’s Strategic AI Focus: 21 Startups Acquired Since 2017 Point to Major AI Upgrades In a series of strategic moves since 2017, Apple has quietly acquired 21 tech startups, signaling a robust push into the realm of artificial intelligence (AI). The tech giant seems poised to unveil AI upgrades across its product suite, spanning iPhone, iPad, and Mac, according to reports by HT Tech. Apple’s CEO, Tim Cook, recently highlighted the company’s...
Mahindra Group Unveils Leadership Transitions: New CFO and CEO Appointments In a strategic move, the Mahindra Group revealed significant leadership changes across its businesses. Amarjyoti Barua, currently the executive vice president overseeing group strategy, is poised to step into the role of the group chief financial officer (CFO) for the Mahindra Group, with the transition scheduled for May 17, 2024. Simultaneously, the conglomerate announced that Manoj Bhat, the current CFO of the...
Tata Motors Shines: Q3FY24 Net Profit Soars 137.5% at ₹7,025.11 Crore In a remarkable financial stride, Tata Motors unveiled its Q3FY24 results, showcasing a stellar surge of 137.5% in consolidated net profit, reaching ₹7,025.11 crore compared to ₹2,958 crore in the previous year. The robust performance, surpassing Street estimates, can be attributed to Jaguar Land Rover’s (JLR) impressive sales. Tata Motors Group CFO, PB Balaji, expressed satisfaction, highlighting six consecutive quarters of...
Market Rally: BSE Sensex and Nifty50 Surge in Opening Trade, Global Sentiments Improve In a promising start to the day, the Indian benchmark equity indices, BSE Sensex and Nifty50, witnessed a substantial surge in opening trade on Friday. BSE Sensex soared over 800 points, with Nifty50 surpassing 21,900. At 9:22 AM, BSE Sensex was trading at 72,442.47, marking an impressive 1.11% increase, while Nifty50 stood at 21,930.00, up over 230 points or...
Amazon Surpasses Expectations with Strong Q4 Results Amazon’s shares surged in late trading Thursday as the e-commerce and cloud computing giant reported impressive fourth-quarter results, outperforming market expectations. The robust performance was fueled by strength in Amazon’s core e-commerce business, which experienced a robust holiday season, along with sustained growth in advertising revenue. Amazon Web Services (AWS) business also saw a significant 13% expansion in the quarter, aligning with estimates. Here are...
Meta’s Mega Quarter: Surging Profits, Dividends, and Stock Soars 14% In a stunning financial performance, Meta, previously known as Facebook, reported a remarkable 200% year-over-year profit growth, reaching a staggering $14 billion for the last quarter of 2023. This exceeded the expectations of Wall Street analysts, propelling Meta’s stock to a soaring 14% surge in after-hours trading. The tech giant’s sales for the same period witnessed a robust 25% growth, surpassing $40...
“Godrej Consumer Products Surges 10% on Stellar Q3 Results, Achieving Fresh 52-Week High” In a remarkable turn of events, shares of FMCG giant Godrej Consumer Products witnessed a stellar 10 percent surge during Thursday’s trading session, fueled by robust financial results for the quarter ending December 2023. Over the past six months, the stock has notched an impressive 27 percent gain for shareholders. The stock reached an intra-day high of Rs 1,299.90,...
Edtech Giant Byju’s Faces Shareholder Revolt: Calls for Management Change and Governance Overhaul In a dramatic turn of events, major shareholders of Think and Learn Pvt. Ltd., the parent company of edtech behemoth Byju’s, are pushing for a shakeup in the company’s leadership. Prominent investors, including General Atlantic, Prosus Ventures, Peak XV, and Chan Zuckerberg Initiative, have jointly issued a notice calling for an extraordinary general meeting. This meeting aims not only...
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