Monday, January 25, 2021

Kriti

GDP growth in Manmohan Singh’s tenure touched 10.08%; shows data

According to a report prepared by the National Statistical Commission, the Indian economy had a 10.08% GDP growth rate during the United Progressive Alliance government (UPA) under Prime Minister Manmohan Singh in 2006-07, which is the highest post India’s...

SC allows RCom to sell assets worth ₹18,000 cr to Jio

The Supreme Court (SC) on Friday gave permission to Anil Ambani's Reliance Communications (RCom) to sell assets worth over ₹18,000 crores to Reliance Jio, which is owned by his brother Mukesh Ambani. The transaction will enable RCom to settle its debts...

CEO Renu Satti resigns from Paytm Payments Bank, to head new initiative by Paytm

Renu Satti, CEO of Paytm Payments bank has resigned from her position and will be re-designated as the COO of an upcoming retail initiative by Paytm. The company has not yet recruited a new CEO. This is the second...

Vedanta Ltd Q1 results: profits up by 2.13% to ₹1,533 crore

Diversified natural resources company Vedanta Ltd. posted barely a 2.13% rise in its consolidated net profits to ₹1,533 crore from ₹1,501 crore for the first quarter of the current fiscal year, missing analysts estimates of ₹2,156 crore by quite a...

DIR-3 KYC : Government mandates filing of KYC for directors in a bid to eliminate shell companies

In a bid to eliminate shell companies and update the governments registry of company directors, The Ministry of Corporate Affairs in a notification has directed all directors who have been allotted a Director Identification Number (DIN) on or before...

Q1 results: Beating estimates, HCL’s profits rose over 8% in the quarter

On Friday, HCL technologies reported a 7.9% rise in it’s net profits for the quarter, which went up to ₹2,227, as compared to ₹2,171 crore in the same period last year. The company also posted a 10.7% year-on-year (YoY)...

Mark Zuckerberg sees robust demand for WhatsApp payments in India

After being tested by 1 million Indians, it seems like WhatsApp’s payments feature has been a huge success, as Facebook CEO Mark Zuckerberg can’t wait to launch the new service nationwide. Back in February, WhatsApp had launched a beta...

HDFC ACM IPO receives overwhelming response on last day; Oversubscribed by 83 times

On the last day of bidding, HDFC Asset Management Company’s (AMC’s) initial public offering (IPO) received an overwhelming response from investors, as the shares were oversubscribed by 83 times. The IPO received bids for 1,56,17,60,954 shares against the total...

Facebook losses $120 billion on data breach allegation, weak results

On Thursday, after Facebook failed to meet revenue expectations by a narrow margin in the second quarter, the social media company’s shares plunged by almost 19%, which took roughly $120 billion off of Facebook’s market value. CEO Mark Zuckerberg...

HDFC AMC IPO oversubscribed on first day; subscription rate at 103%

HDFC Asset Management Company’s (AMC) initial public offering (IPO) of ₹2,800 crore garnered full subscription on the first day, receiving bids for 1,93,96,884 shares against a total of 1,88,04,290 shares offered by the company (which translates to a subscriber rate...

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