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Hackers exploited Myntra’s refund system to steal Rs 50 crore between March and June. Scammers placed fake orders for high-end items, then falsely claimed missing products to secure refunds. Myntra filed a complaint for Rs 1.1 crore in Bengaluru, and investigations point to a group in Jaipur. In response, Myntra’s parent company, Walmart, plans to […]
Tata Play Fiber has rolled out high-speed plans offering up to 100Mbps and free OTT access, competing with Airtel and Jio. The plans, available in one to twelve-month options, include free access to platforms like Apple TV+ and Disney+ Hotstar. Prices start at Rs 750/month for a 12-month commitment. The Mega Plan, at Rs 950/month, […]
Ambuja Cements, part of the Adani Group, announced the commissioning of a 200 MW solar power project in Khavda, Gujarat, to supply green power to 20 cement plants. The project is part of Adani Cements’ goal to achieve 1 GW of renewable power through solar, wind, and 376 MW from Waste Heat Recovery Systems, with […]
Passenger vehicle sales in India reached a record 3.48 lakh units in November, marking a 4.1% growth compared to the previous year, according to SIAM data. Despite Diwali not falling in November, two-wheeler sales crossed 16 lakh units for the first time in a non-Diwali November. Total automobile production in November 2024 was 24,07,351 units.
The Sensex and Nifty opened at fresh record levels in early trade today, December 13, 2024. The Sensex started trading today at 81212.45, down 77.51 points or 0.10%, and the Nifty was at 24498.35, down 50.35 points or 0.21%. Meanwhile, the Indian rupee was trading today at 84.85 against the dollar.
India’s economy is projected to reach USD 7 trillion by 2030 with conservative growth, according to Finance Commission Chairman Arvind Panagariya. With aggressive growth and pending reforms, it could hit USD 9 trillion. Panagariya emphasized the need for structural reforms, particularly in urban land pricing, and recommended equities as a top investment for long-term gains.
A nearly 26% rise in FDI to USD 42.1 billion during the first half of the current fiscal year helped India’s gross foreign direct investment (FDI) inflows reach an impressive USD 1 trillion since start of the century. India achieved a remarkable feat in its economic journey. FDI inflows reached an impressive USD 1 trillion […]
India’s retail inflation eased to 5.48% in November from 6.21% in October, though it remains above the Reserve Bank of India’s 4% target. Food inflation, the main driver of higher prices, stood at 9.04%, down from 10.47% in October. Cereal and pulse prices rose, but at a slower pace. Despite this, the RBI kept its […]
Indian stock markets ended Thursday’s trading session in negative territory. Sensex shed 236.18 points or 0.29% to settle at 81,289.96. Similarly, Nifty settled at 24,548.70, down 93.10 points or 0.38% from its previous close. In the broader markets, Midcap and Smallcap indices ended lower by 0.46% and 0.9%, respectively.
Australia will force Meta and Google to pay for news shared on their platforms under a new scheme, threatening a tax if they don’t strike deals with local media. The government aims to compensate publishers for links driving traffic to tech platforms. Social media platforms earning over $160 million in Australia annually will face the […]
The Sensex and Nifty opened at fresh record levels in early trade today, December 12, 2024. The Sensex started trading today at 81590.46, up 64.32 points or 0.08%, and the Nifty was at 24646.75, up 4.95 points or 0.02%. Meanwhile, the Indian rupee was trading today at 84.85 against the dollar.
Elon Musk, head of Tesla, once again created a world record, and he made history by entering the $400 billion club for the first time in terms of his earnings. Musk recently sold some of his stake in SpaceX, and his earnings increased by 50 billion dollars and reached 439.2 billion dollars, according to the […]
Adani Ports and Special Economic Zone (APSEZ), owned by billionaire Gautam Adani, has pulled out of a $553 million loan deal with the US International Development Finance Corporation (DFC) for developing a port terminal in Colombo, Sri Lanka. The project will now be funded through APSEZ’s internal accruals and capital management plan, as stated in […]
Starting next year, EPFO subscribers can withdraw their provident funds directly from ATMs, as announced by Labour Secretary Sumita Dawra. The initiative aims to simplify claims and improve ease of access with minimal intervention. The Labour Ministry is upgrading IT systems, with major enhancements expected by January 2025. Efforts to extend social security benefits to […]
Buying properties through bank auctions offers great discounts, often 10-30% below market value. However, potential risks include unclear property titles, pending dues, delayed possession, and limited ability to inspect the property beforehand. While the auction process is legally regulated, buyers should conduct thorough due diligence, including consulting legal and financial experts.