Author: Punit Panchal

New Delhi: Ambuja Cement announced that it will acquire 46.8% of Orient Cement Ltd at an equity value of Rs.8,100 crore with an aim of reaching 100 MTPA cement in FY25 and Improving its pan-India market share by 2%. Additionally, the cement gaint makes an open offer to acquire an additional 26% stake, Within 3-4 months, the open offer shall be completed in accordance with the provisions of Substantial Acquisition of Shares and Takeover Regulations. The open offer is being made at Rs.395.40 per share, which has been determined in accordance with SAST Regulations Informed the company through Stock exchange…

New Delhi: Bitcoin has reached new heights, surpassing $75,000 for the first time in history on Wednesday fueled by early exit polls from the U.S. presidential election that showed a narrow lead for the Republican candidate Donald Trump the cryptocurrency surged at 8.4% climbing to $75,060, breaking its previous record of $73,750. Trump’s gains in early voting results which show him leading in eight states, while Democrat Kamala Harris secured three states and Washington DC, which has raised speculation that the Republican candidate may have a favorable stance on cryptocurrencies. Investors have reacted positively as Trump’s policies are often perceived…

New Delhi: Edtech unicorns PhysicsWallah reach at Rs.2,000 crores revenue mark during the financial year ended March 31, 2024, but it losses widened in a big way. The Noida based company saw its operating grow by significant 160% to Rs.1,940 crore in FY24, from Rs.744 crore in FY23. Its consolidated net loss ballooned by nearly to 13.5 times to Rs.1,131 crore from Rs.84 crore years ago due to higher wage bill. The company also posted a huge jump in miscellaneous expenses to Rs.1,453 crore from Rs.170 crore. According to the company, this increase comprises non-cash expenses pertaining to the revaluation…

New Delhi: Swiggy the food delivery giant has stepped into the stock market, CEO Sriharsha Majety a media-shy has made a rare public appearance in the IPO listing ceremony. Majety has shared an origin story of Swiggy how the Swiggy came into his mind and how this name goes at a high level in the delivery of food tracing him into the days at IIM Calcutta. The IPO is set to create a significant number of crorepati among the Swiggy’s employee base. Swiggy’s elusive CEO, Srihasrha Majety made a rare public appearance today at the company’s prestigious stock market debut…

New Delhi: In Amazon’s latest push in the rapidly growing AI landscape, the company is set to invest $110 million into its new program, Build on Trainium. This new program aims to advance research in generative AI and will support researchers, academic institutions, and students. In this vein, Amazon will provide free computing power to those who will use Trainium, the specialized deep-learning AI chip of Amazon Web Services. This ties in with the core of the build-on Trainium program, which includes the provision of up to $11 million in credits for participating academic institutions in the use of Trainium.…

New Delhi: A B2B startup founded by Rahul Borude has raised Rs.6.6 crore in funding from Unicorn India Ventures. StampMyVisa is an AI-driven visa platform that simplifies complex visa application processes for businesses. It supports corporations, travel agents, meetings, incentives, conferences, Exhibition companies, and online travel aggregators by streamlining and automating visa processing and reducing errors. The new funding will support the Mumbai-based company’s geographical expansion, advancements of its artificial intelligence (AI) capabilities, and launch of other services designed to help businesses manage international travel and visa processes for Indian Traveling aboard. The proceed would also be employed to introduce…

New Delhi: Deepak Parekh says, India’s headline Customer Index Price inflation rate should come off in December. India’s inflation rate rose by 14 months a high of 6.2 percent in October from 5.5 percent in the previous month, as food inflation galloped on the back rise of vegetable prices. Expectations are there that inflation rates are coming off from December onwards, Parekh said and addressed in the CNBC TV18 Global Leadership Summit interview. Similar words are reiterated by the Reserve Bank of India’s Governor Shaktikanta Das that even though there were few humps, the inflation rate should be moderated. This…

New Delhi: iPhone SE 4’s potential to launch in 2025 has already caused quite astir in the tech community, and rightly so considering the rumors of features and capabilities it could offer. In many ways, the iPhone SE 4 may allow users to experience nearly everything of flagship iPhone 16 series offers, but at almost half the price. With that said, a great deal of information has already been leaked, including insight from notable sources like Ming-Chi Kuo and Bloomberg’s Mark Gurman. Here, let’s take a look at what we can expect from the iPhone SE 4 which is to…

New Delhi: India’s purchase of Russian oil during market unstability helped to stabilize global prices, preventing a potential surge to $200 per barrel in the market, according to Union Minister Hardeep Singh Puri he stated that India’s actions benefited all the nations, and highlighted the importance of securing the affordable energy for its citizens. In a conversation with CNN Becky Anderson at ADIPEC in Abu Dhabi on Thursday, Puri said that global oil prices could have reached 200 dollars per barrel had India not purchased Russian oil. Oil remains crucial to global energy requirements for the foreseeable future, he indicated…

New Delhi: This comes as boat revenue fell 5% in FY24 to Rs 3,285 crore, while its halved losses to Rs.70.8 crore. The source said there’s a consolidation underway in the sector and that the recent Diwali season lifted sales after several muted quarters. Boat recorded positive earnings before interest, taxes, depreciation, and amortization in FY24. Homegrown wearable and audio products brand Boat has finalized ICICI Securities, Goldman Sachs, and Nomura as bankers for a $300-500 million IPO next year, sources aware of the matter said, joining the queue of new-age firms looking to go public. Delhi-based Boat may aim…