Business

Mumbai, March 28, 2023, Sensex and Nifty Update : The Indian stock market started the week on a cautious note as the BSE Sensex and the Nifty 50 erased all their gains in the morning session and slipped into negative territory. As of 11:00 am, the Sensex was trading 99.57 points or 0.16% lower at 60,428.40, while the Nifty 50 was down by 19.95...

In a major development in the banking industry, US-based First Citizens Bank has announced its acquisition of the Silicon Valley Bank, following the latter's recent collapse. The acquisition deal, which was reportedly worth billions of dollars, is expected to have a significant impact on the financial landscape of the tech industry. According to sources, the Silicon Valley Bank had been struggling for several months due...

TikTok CEO Shou Zi Chew, meteoric rise from an intern at Facebook to CEO of hugely popular app has been nothing short of impressive. As the head of the world's most popular social media app, Chew has overseen its ascent to become the most downloaded app last year, with 672 million downloads. But as concerns over national security and privacy continue to plague the...

UBS, the Switzerland-based bank, has agreed to purchase the embattled Swiss lender Credit Suisse for $3.25 billion, in a deal aimed at restoring confidence and stability in the Swiss economy and the banking sector. However, Credit Suisse’s “black mark” is not something that can be erased by UBS. While UBS may benefit from the takeover, the future of the banking industry leaves many ...

Vedanta Share Price saw a 2% increase to ₹275 per share on the BSE during Wednesday's opening deals, following a statement by Vedanta Resources Ltd. The statement aims to assuage investor concerns around its financial position. Vedanta Resources Ltd is owned by billionaire Anil Agarwal and stated that it has sufficient means to meet debt repayment liabilities in the upcoming quarters. Additionally, it has...

Greenko, a leading clean energy transition and decarbonization solutions company, made history by supplying a total of 4950 KVA of clean energy to power the Greenko Hyderabad E-Prix 2023, India's first-ever Formula E World Championship. The event, which was attended by over 20,000 spectators, showcased the power of sustainable energy and set a new standard for sustainable e-racing. The event's significance transcended the racetrack, as...

Adani FPO, the follow up public offer from the Asia's richest man Gautam Adani, closes the books on its Rs 20,000 crore ($2.5 billion) follow-on public offer (FPO) today. Despite Adani Enterprises attracting investment from Abu Dhabi's International Holding Co. with a $400 million ($3,200 crore) subscription, the FPO has so far only received a 6% subscription from investors, with the retail and...

The Adani Group has recently suffered another blow with a significant decrease in stocks, reaching a total loss of $66 billion. This comes as the company is embroiled in a heated conflict with short-seller Hindenburg Research. Despite the broad sell-off, with Adani Green Energy Ltd. and Adani Total Gas Ltd. down over 20%, there are signs of a divide. Adani Group Companies Show Resilience Billionaire Gautam...

Amazon, the e-commerce giant, announced on Wednesday that it will be laying off over 18,000 employees starting January 18. The company had already laid off about 10,000 staff in November. In an email to staff, Amazon CEO Andy Jassy cited "uncertain economy" and "rapid hiring" as the reasons behind the job cuts. "Between the reductions we made in November and the ones we're sharing today,...

HCL Share Price is bleeding. The stock nose dived to soon after the management gave a fresh guidance of its business ahead. The Share price of HCL Technologies opened 4 percent lower on December 9 after the management indicated that FY23 revenue growth will be at the lower end of earlier guidance. At its investor day held on December 8 in New York, the company...