The government did the unthinkable. Overnight, almost 2 lakh employees working for more than 400 gaming companies didn’t have a reason to go to work. The companies they were working for had to abruptly shut down- because parliament decided to ban online games in India. Specifically, any game where a user pays a fee, deposits money, or places a bet hoping to win something valuable in return- usually money. According to the Online Gaming Act, 2025 which the government passed last week, an ‘online money game’ is any game- based on skill, chance or both, where money is involved. Also…
Author: Abizar Attari
Abizar Attari
Abizar has been writing before AI started to take over your lives! His expertise lies in analysing diverse perspectives and simplifying them for laymen. Beyond writing, storytelling and editing, he enjoys running, learning and enjoying the outdoors.
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Mumbai: Quest Flow Controls, one of India’s leading listed value manufacturers, has reaced a milestone of Rs. 100 crore order book with a fresh Rs.23.55 crore order from Kolkata-based Garden Reach Shipbuilders and Engineers Ltd (GRSE). The Goa-based company has been an active player in supporting the nation’s shipbuilders and other infrastructure projects, with long-standing relationships with leading shipbuilders and PSUs.Last month, the company announced its receipt of its first-ever order from BHEL ESD, Bangalore. The company’s CEO, Mr Kishore Makvan, has been working to steadily expand its portfolio beyond India. It is actively building its presence across North Africa,…
New Delhi: After the Production Linked Incentive (PLI) scheme helped India become the world’s second-largest smartphone exporter, the government is now hoping for a similar success with the Design Linked Incentive (DLI) scheme. On August 23, the government said it had sanctioned 23 chip design projects under the scheme. One of these is Vervesemi Microelectronics, a semiconductor designing and testing firm that outsources manufacturing of these chips. The company aims to use the funds to develop a portfolio of integrated circuits (ICs) for use in electronics, small motors, EVs, drones, industrial automation and avionics. The other companies approved for the…
Mumbai: R Systems International, an IT-enabled services (ITeS) and digital engineering company, has announced its intention to acquire Mangaluru-based Novigo Solutions in a deal worth Rs.400 crore. Novigo Solutions offers low-code/no-code (LCNC) development and automation services for clients across BFSI, manufacturing and high-tech sectors. Through this acquisition, R Systems can potentially tap the growing demand for autonomous, compliant AI workflows- integrating its OptimaAI Suite with Novigo’s flagship UiPath Diamond-tier automation practice to offer an industry-beating solution in designing and operating intelligent enterprises. “This is a pivotal moment for R Systems, our clients, and our investors,” Nitesh Bansal, CEO of R…
Mumbai: Titagarh Rail System’s shipbuilding arm has secured its largest order to date from Garden Reach Shipbuilders and Engineers (GRSE) to build 2 research vessels for the Geological Survey of India. The order, worth Rs.467.25 crore, includes construction, trials and delivery of two Coastal Research Vessels (CRVs). “We are honoured to partner with GRSE in delivering these highly specialized Coastal Research Vessels for the Geological Survey of India. This order stands as a testimony to the trust placed in our shipbuilding and maritime systems capabilities, reaffirming our commitment to delivering world-class vessels that advance India’s strategic priorities in maritime research…
Bengaluru: India’s fourth-largest IT firm Wipro has announced its intention to acquire the Digital Transformation Solutions (DTS) business unit of HARMAN, a Samsung subsidiary, for $375 million. This acquisition is aimed at enhancing the company’s Engineering Research and Development (ER&D) services, where HARMAN’s expertise in Embedded software and digital engineering will help Wipro enhance its offerings and expand its presence to newer geographies, especially South Korea and Japan. HARMAN already has R&D centres in India through Harman Connected Services, and this deal with Wipro will allow HARMAN to focus on the core automobile and audio electronics. Headquartered in Connecticut, USA,…
Bitcoin exchange-traded funds (ETFs) have seen almost $645 million in redemptions in just two days as investors have started to worry about US Federal Reserve Chair Jerome Powell’s Jackson Hole speech. Outgoing Fed Chair Powell is expected to address pressing concerns during the annual economic forum, including addressing the worrying rise in inflation, jobless growth and most importantly, a timeline for revising interest rates by the Federal Open Market Committee. In the past two days, Fidelity’s FBTC saw $246.9 million worth of redemptions, while Grayscale’s GBTC saw $115.5 million and Bitwise’s BITB lost $86.8 million. Despite this, Bitcoin’s market value…
Mumbai: Godrej Properties, the flagship real estate brand of the Mumbai-based Godrej Group, has won the bid to acquire a 7.8 acre land parcel in Kukatpally, Hyderabad close to the HITEC city, Hyderabad’s premier commercial area. Godrej paid a Rs.30 crore premium above the Rs.40 crore base price, valuing the transaction at Rs.547 crore, according to reports. The company pipped other contenders for the land, including Prestige Estates, Aurobindo Realty and Ashoka Builders. The e-auction was conducted by the Telengana Housing Board for the land parcel in Kukatpally Housing Board Colony. Godrej Properties has already leapfrogged DLF to become India’s…
New Delhi: In a statement to the bourses, India’s largest cement manufacturer UltraTech is all set to offload about 6.5% of its stake in India Cements, a company it acquired last year. Currently, UltraTech owns 81.5% of the South India-focused cement company, once owned by beleaguered former BCCI chief N. Srinivasan. SEBI has mandated all listed companies to cap their promoter holdings to 75%, as per their Minimum Public Shareholding (MPS) rules. Since this rule was implemented in 2019, companies like AstraZeneca Pharma, Adani Enterprises, Novartis India, to name a few, have done so, giving the markets another opportunity to…
Johannesburg: India’s most profitable carmaker Tata Motors has re-entered the South African passenger vehicle market after six years, launching its flagship SUVs Harrier, Curvv, Punch and its flagship hatchback Tiago at a launch event in Johannesburg, South Africa. Partnering with Motus Holdings, the carmaker will eventually expand its base there to 60 outlets and after-sales service centres by 2026. The company will be competing in the affordable PV segment against Chinese carmakers Chery Group, Beijing Automakers and GWM. The company still maintains a presence in the commercial vehicle segment there, with this launch aimed at boosting Tata Motors’ presence in…
