According to a report from the Wall Street Journal on Thursday, sportswear giant Nike is planning to trim its workforce by approximately 2%, equating to more than 1,600 jobs, as part of a cost-cutting initiative. The layoffs are slated to commence on Friday, with a second phase anticipated to be finalized by the end of […]
Gujarat Gas Limited witnessed a 6 percent decline to Rs 545 during morning trading on February 16, following a 40 percent decrease in net profit for the December quarter, prompting several brokerage firms to adopt a pessimistic stance on the stock. In Q3, the company posted a consolidated net profit of Rs 221 crore, down […]
Entero Healthcare Solutions had a lackluster debut on February 16, with its stock listing at a 2.3 percent discount to the IPO price. Shares opened at Rs 1,228.7 on the NSE and Rs 1,245 on the BSE, compared to the issue price of Rs 1,258. The subdued debut came after the stock’s grey market premium […]
Supreme Court Declares Electoral Bond Scheme Unconstitutional in Unanimous Verdict On February 15, a five-judge Constitution bench of the Supreme Court delivered its judgment on a series of petitions challenging the legality of the Electoral Bond scheme, which enables anonymous funding to political parties. The apex court unanimously struck down the Electoral Bond scheme, deeming […]
Paytm shares experienced a 5 percent decline on February 15, following the bourses’ decision to revise the circuit limit on the counter from 10 percent to 5 percent. This adjustment occurred a day after Paytm shares were locked at their lower circuit limit of 10 percent. The revised circuit limit, effective from February 15, 2024, […]
On February 15, a unanimous decision by a five-judge bench of the Supreme Court declared the electoral bond scheme unconstitutional, citing violation of Article 19 of the constitution due to non-disclosure of political party funding. The apex court’s ruling led to the nullification of provisions in the Companies Act, Income Tax Act, and Representation of […]
In a significant decision, the Supreme Court directed the State Bank of India to halt the issuance of electoral bonds immediately and provide all relevant details to the Election Commission by March 15. The Election Commission will be responsible for publicly disclosing all donations within one week of receiving the information. Additionally, the apex court […]
Shares of Vedanta Resources saw a decline on the NSE on February 15 following block deals involving 8.2 crore shares. Earlier reports from ET Now indicated that promoters were considering selling a stake worth $1 billion to Rajiv Jain’s investment firm GQG Partners. At 9:25 am, the stock was trading down by 1% at Rs […]
Alpex Solar witnessed a remarkable debut on February 15, with its stock listing at a premium of 186% over the IPO price on the NSE SME platform. Opening at Rs 329 compared to the issue price of Rs 115, the stock’s performance surpassed expectations. Prior to its listing, Alpex Solar shares were trading at a […]
The Biden administration underscores India as its primary partner in South Asia, revealing plans for a multi-billion-dollar climate infrastructure initiative and a new fund, with a USD 500 million investment contribution from its development finance institution. Afreen Akhter, Deputy Assistant Secretary in the Bureau of South and Central Asian Affairs (SCA), shared these insights during […]