Shares of Vodafone Idea experienced a notable surge of 10% to Rs 8.48 apiece on the BSE during Wednesday’s intra-day deals, following reports indicating that promoters are considering infusing funds into the heavily indebted telecom company. Find out the latest updates and gain insights into the financial status of Vodafone Idea. At 9:53 AM, the telecom services provider’s shares were trading 5.6% higher at Rs 8.14 per share, outperforming the benchmark S&P BSE Sensex, which witnessed a marginal dip of 0.18%. Notably, a combined total of 210.73 million shares were exchanged on the NSE and BSE by the time of…
Author: Mohit Singh
Mohit Singh
Mohit Singh is an accomplished content writer with extensive experience in the startup industry. As a vital member of the Startup Insider team, Mohit brings his exceptional writing skills to deliver engaging and informative content to our readers.
In response to escalating geopolitical challenges, an increasing number of global companies are prioritizing supply chain diversification. This strategic move aims to insulate businesses from the risks associated with overreliance on a single country or region. As part of this trend, major organizations are emphasizing the advantages of ‘friend-shoring,’ which involves strengthening local supply chains in key economies. Morgan Stanley, a renowned financial institution, has identified India, Mexico, and Southeast Asia as the best-suited regions for this transition. According to a report by Morgan Stanley economists, these economies stand to gain substantial economic and industrial benefits as supply chains migrate…
Tech giant Apple is expected to shift over 18% of its worldwide production of iPhones to India by the fiscal year 2024-25 (FY25), riding on the wave of the Centre’s production-linked incentive (PLI) scheme, as stated in a report by the Bank of America. This comes after India’s share in global iPhone production was recorded at 7% in FY23, a significant increase compared to negligible numbers before the implementation of the PLI scheme on October 6, 2020. To support its expansion plans, Apple’s contract manufacturers in India, namely Foxconn Hon Hai, Wistron, and Pegatron, have already received approval from the…
A group of lenders to Byju’s, the prominent edtech giant, have informed the company that they are open to negotiations in order to resolve the ongoing litigation and other disputes, according to sources familiar with the matter. However, these sources also revealed that the lenders have declined Byju’s proposal for one-on-one meetings. Recently, Byju’s filed a lawsuit against the US-based investment management firm, Redwood, challenging the acceleration of a $1.2-billion term loan B (TLB) facility and seeking to disqualify Redwood for engaging in what it considers “predatory tactics.” Byju’s also failed to make an interest payment of approximately $40 million…
Zee Entertainment Promoters Approach Securities Appellate Tribunal Against SEBI Ban The promoters of Zee Entertainment Enterprises, Subhash Chandra and Punit Goenka, have taken the necessary steps to seek relief from the ban imposed on them by the market regulator. In their pursuit of justice, they have approached the Securities Appellate Tribunal (SAT). The SAT will consider the matter for admission on June 15, bringing hope for a favorable outcome. The lawyers representing the promoters have pointed out that the Securities and Exchange Board of India (SEBI) failed to provide a show cause notice before issuing the ban. Furthermore, SEBI did…
India is likely to see a decrease in the outflow of high-net-worth individuals (HNWIs) in 2023, as reported by the Henley Private Wealth Migration Report 2023. This decline comes after last year’s outflow of 7,500 millionaires, with the projected outflow for 2023 being around 6,500 individuals. While the numbers indicate a decrease, India still ranks as the second-largest country globally in terms of HNWI outflow, following China’s net loss of 13,500 millionaires. The report highlights various reasons why millionaires are leaving India. Recent and persistent turmoil has caused a shift in mindset among investors, leading them to consider relocating their…
Mumbai: In order to expand payment options for Indians travelling abroad, the Reserve Bank of India on Thursday decided to allow issuance of RuPay Prepaid Forex cards by banks in India for use at ATMs, PoS machines, and online merchants overseas. The announcement was made by Reserve Bank Governor Shaktikanta Das while unveiling the second bi-monthly monetary policy of this fiscal. According to Das, these measures will expand the reach and acceptance of RuPay cards globally. The issuance of RuPay Debit, Credit, and Prepaid Cards will also be enabled for foreign jurisdictions, making them usable internationally, including in India. The…
Mangaluru: Air India has strengthened the flight connectivity between Mangaluru and Mumbai by introducing a second daily flight from June 10. This recent development comes shortly after IndiGo’s addition of a third daily flight on the Mumbai-Mangaluru route on May 22, as announced by the airport authorities. With both airlines now offering a combined total of five daily flights, the Mumbai-Mangaluru route has emerged as one of the busiest air routes in 2022, serving approximately 4.90 lakh passengers. The increased flight options provide passengers with greater flexibility and convenience in planning their travel. The new Air India flight, numbered 1679,…
Mumbai, India – In a welcome turn of events, equity benchmark indices in Mumbai rebounded today after experiencing a decline in the past two trading sessions. The positive sentiment can be attributed to the optimism in the US markets as well as increased buying activity in the IT sector. The 30-share BSE Sensex showed early signs of recovery, surging by 158.02 points to reach 62,783.65. Similarly, the NSE Nifty witnessed a healthy rise of 70.2 points, settling at 18,633.60. Among the major gainers from the Sensex pack were Infosys, HCL Technologies, Tata Steel, Bajaj Finance, Tech Mahindra, Tata Motors, Mahindra…
Mumbai, India – Reserve Bank Deputy Governor MD Patra has emphasized the need for a comprehensive policy approach to revitalize and sustain productivity and growth amidst various economic factors at play. In his keynote address at the Sixth Asia KLEMS Conference held in Lonavala on Sunday, Patra highlighted the importance of technological capital deepening and long-term investment in research and development to foster a competitive innovation ecosystem. He also emphasized the significance of skill development through continuous education and training, as well as the need to enhance physical infrastructure. According to Patra, Emerging Markets and Developing Economies (EMDEs) should leverage…