Central trade unions have declared a nationwide one-day strike at Coal India, all state-run establishments on February 16, as outlined in a regulatory filing. The timing of this announcement is significant due to the importance of Coal India’s supplies in electricity generation worldwide. It remains uncertain what impact the strike will have on power plant […]
Tata Motors’ Electric Vehicle Unit Initiates Significant Price Reduction, Making EVs More Affordable
Tata Motors’ electric vehicle (EV) division announced a significant price reduction on Tuesday, marking the first instance of an electric car manufacturer in India cutting prices. The company has slashed prices by up to Rs 1.2 lakh, passing on the benefits of reduced battery costs directly to customers. The Passenger Electric Mobility division of Tata […]
The National Company Law Tribunal (NCLT) extended the Corporate Insolvency Resolution Process (CIRP) of Go First, the grounded airline, by 60 days on February 13. This extension came after three parties expressed interest in acquiring the carrier. The Resolution Professional (RP) informed the NCLT that three entities had shown interest in taking over Go First. […]
The initial public offering (IPO) of Vibhor Steel Tubes, valued at Rs 72 crore and consisting solely of fresh shares, commenced on February 13. Ahead of the IPO launch, the company secured Rs 22 crore from three anchor investors. Here are 10 important points to consider before subscribing to the offering: 1) IPO Dates : […]
Phoenix Mills shares witnessed a 5 percent decline in early trading on February 13, despite the company reporting a consolidated net profit of Rs 279.4 crore in the December quarter. The net profit surged by 58.4 percent compared to the same period last year, while revenue experienced a substantial increase of 44.2 percent year-on-year, reaching […]
Amidst financial instability and legal battles, SpiceJet, the budget airline, is preparing to lay off approximately 1,000 employees as part of its cost-cutting and operational streamlining efforts amidst a reduced fleet size, officials disclosed on Monday. The airline, grappling with financial woes and legal disputes, is considering further reductions in its workforce due to an […]
The initial public offering (IPO) of Entero Healthcare Solutions is set to conclude for public subscription today, amid a tepid response from investors. As of now, the company has garnered subscriptions for just 0.19 times or 19% of the total shares on offer. With a net-off anchor investors’ count of 71.50 lakh shares, the IPO […]
Global brokerage firm Macquarie has revised its rating on Paytm from ‘neutral’ to ‘underperform,’ while significantly reducing its target price from Rs 650 to Rs 275. This adjustment is driven by substantial declines in revenues across various segments, compounded by recent regulatory changes. According to Macquarie’s analysis, Paytm now faces a significant risk of customer […]
India’s retail inflation rate decreased to 5.10% annually, marking a decline from December’s four-month high of 5.69%, as per data released by the Ministry of Statistics & Programme Implementation on Monday. Notably, a Reuters poll of 44 economists had anticipated a three-month low of 5.09%. This figure remains within the Reserve Bank of India’s (RBI) […]
Tripadvisor Inc announced on Monday the creation of a dedicated committee tasked with evaluating proposals that could lead to strategic agreements, prompting a notable 14.2% increase in its shares during extended trading. Centerview Partners has been appointed as the financial adviser to this specialized committee, which will also assess recent disclosures from Liberty TripAdvisor Holdings […]