Wipro Ltd, one of India’s leading IT service providers, has secured a significant contract worth $500 million. This five-year deal comes from a major US communication service provider and marks a pivotal moment for the company under the new leadership of CEO Srinivas Pallia. The contract underscores Wipro’s commitment to expanding its footprint in the…
The financial market witnessed a significant event recently when shares of One 97 Communications Ltd, the parent company of Paytm, experienced a robust buying trend. This surge was observed following a revision in the circuit filter, which allowed the shares to hit a 10% upper circuit. Investors are now keenly observing the market to understand…
The Reserve Bank of India (RBI) recently conducted two significant variable rates reverse repo (VRRR) auctions, collectively amounting to ₹44,430 crore. This strategic move was aimed at absorbing the surplus liquidity from the banking system, ensuring financial stability, and maintaining balanced market conditions. Despite the central bank‘s readiness to absorb up to ₹1-lakh crore, the…
Bengaluru-based chicken quick service restaurant (QSR) chain, BIGGUYS, has recently secured $2 million (approximately INR 16 crore) as part of its bridge funding round. This significant investment comes from a diverse group of non-resident Indians (NRIs), marking a crucial step in the company’s growth trajectory. Major Investment from NRIs Among the NRIs investing in BIGGUYS…
On June 6, 2024, PNB MetLife India Insurance Co. Ltd announced a significant leadership change, appointing Sameer Bansal as the new Managing Director (MD) and Chief Executive Officer (CEO), effective July 1, 2024. This appointment marks a new chapter for the company as Bansal steps into the role with a wealth of experience and a…
Maruti Suzuki India, a leading automobile manufacturer, announced a significant investment in renewable energy, marking a strategic move towards sustainable operations. The company revealed plans to invest Rs 450 crore over the next three years in various renewable energy projects, including solar and biogas initiatives. This commitment underscores Maruti Suzuki’s dedication to reducing its carbon…
Tata Steel, a major player in the global steel industry, has announced impending job cuts at its UK operations. According to the company’s CEO, T V Narendran, around 2,500 workers will be affected as the company undergoes a significant transition. This move, described as “inevitable” by Narendran, has sparked concerns and protests among workers’ unions…
Larsen & Toubro Ltd (L&T), a leading Indian multinational conglomerate, has recently found itself at the center of a significant tax penalty. The Income Tax Department has imposed a hefty penalty of over Rs 4.68 crore on L&T. This penalty, as detailed in a regulatory filing, pertains to the tax proceedings of the erstwhile L&T…
Bharat Rasayan Limited, a leading agrochemical company, has seen a significant surge in Bharat Rasayan share price following the announcement of its Q4 results for FY24. The stock jumped by 16.8%, reaching a new high of ₹10,736 per share. This positive response from the market highlights investor confidence in the company’s financial performance and future…
IRB Infrastructure Developers Limited (IRB Infra), a prominent player in the infrastructure sector, has recently made headlines as its promoters announced the sale of a 4% stake in the company. The transaction, valued at ₹1512 crore, is set to occur at a price of ₹63 per share, reflecting a 13% discount from the current market…