In a landmark legal milestone, the Delhi High Court awarded first relief to Tesla Inc., the well-known US-based electric vehicle (EV) maker led by Elon Musk, in its trademark infringement case with Gurugram-based Tesla Power. The court’s decision responds to Tesla Inc.’s worries about the sale of e-scooters branded with “Tesla Power,” which the firm…
Since Prime Minister Narendra Modi led the BJP to a clear majority in the 2014 Lok Sabha elections, the combined market capitalisation of BSE-listed companies has surged nearly fivefold, adding Rs 3,25,16,615 crore. This remarkable growth in market cap is attributed to the surge in many listed stocks and a flurry of IPO listings, totaling…
In a significant development, the Reserve Bank of India (RBI) has successfully transferred approximately 100 tonnes (1 lakh kilograms) of gold from the United Kingdom to its vaults in India, marking the first such large-scale transfer since 1991. This strategic move is aimed at reducing storage costs and diversifying the location of its gold reserves,…
May 31, 2024: In a significant development, Federal Bank, a prominent private sector bank in India, has announced a strategic Bancassurance tie-up with Tata AIA Life Insurance Co Ltd, one of the country’s leading life insurance companies. This partnership aims to provide Federal Bank’s customers access to Tata AIA Life’s comprehensive insurance product suite, thereby…
OYO, the travel tech unicorn, revealed its first profitable financial year for 2023–24, with a net profit of approximately ₹100 crore. Founder and CEO Ritesh Agarwal announced the news on social media platform X (previously Twitter), expressing confidence in the company’s future growth possibilities in both domestic and foreign markets. “While a delighted customer or…
Mumbai: For the fiscal year ended March 31, 2024, the Reserve Bank of India (RBI) recorded a notable improvement in its financial situation. The bank’s balance sheet increased by 11.08% to ₹70.47 lakh crore ($844.76 billion). Based on World Bank data, the RBI’s balance sheet now surpasses the combined GDPs of Bangladesh and Pakistan, which…
Reliance Industries is preparing to introduce a 30-minute grocery delivery service through its retail subsidiary, JioMart, starting next month. This is a big step towards expedited commerce. The program will launch in seven or eight large cities, with intentions to spread to over 1,000 places in the future, according to a Times of India story….
The parent company of Paytm, One97 Communication Ltd (OCL), has denied media reports implying that Gautam Adani, the head of the Adani Group, is thinking about buying a share in the massive digital payment startup. According to the sources, Adani and Paytm founder Vijay Shekhar Sharma had talks to seal a possible agreement. One97 Communications…
The global brokerage firm CLSA has identified a set of companies that stand to gain a lot in the event that Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) wins the 2024 Lok Sabha elections. Known as “Modi stocks,” these equities have already surpassed the Nifty and are predicted to rise further, especially if the…
The global brokerage firm CLSA has identified a set of companies that stand to gain a lot in the event that Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) wins the 2024 Lok Sabha elections. Known as “Modi stocks,” these equities have already surpassed the Nifty and are predicted to rise further, especially if the…
