Billionaire Mukesh Ambani-owned Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt due next year, according to people familiar with the matter. About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025,...
Business
Mobikwik, Vishal Mega Mart IPO among 11 upcoming mainboard and SME IPOs set to hit D-Street
IPOs this week: The primary market is set to remain active next week, with five mainboard companies and six SME companies preparing to launch their initial public offerings (IPOs). Ranging from fintechs to supermarket chains, these mainboard IPOs are expected to collectively raise over ₹19,000 crore, reflecting strong investor interest across diverse sectors. Vishal Mega Mart IPO will open for subscription...
Elon Musk Spent $270 Million To Help Donald Trump Win US Presidency
Tech billionaire Elon Musk spent at least $270 million to help Donald Trump win the US presidency, according to new federal filings, making him the country’s biggest political donor. SpaceX and Tesla CEO Musk, the world’s richest person, was an ardent supporter of Trump’s White House campaign — funneling money into door knocking operations and speaking at his rallies. His...
Sensex strikes again: Sensex Surged 1,825Pts Nifty 50 Jumped 20%
In what feels like the DDLJ of stock market rallies—long, dramatic, and endlessly entertaining—the Sensex and Nifty 50 wrapped up their fifth consecutive session of gains on December 5, proving yet again why they’re the Rajinikanths of Indian finance. The Sensex surged a whopping 1,850 points from its intraday low, closing at 81,765.86, while the Nifty 50 jumped 2 per cent during...
Bitcoin soars past $100,000 milestone for first time
Bitcoin soared past the $100,000 milestone on Thursday, fueled by expectations that US President-elect Donald Trump’s administration will usher in a crypto-friendly regulatory era. This landmark comes just weeks after Trump’s sweeping election victory, which also saw several pro-crypto lawmakers secure seats in Congress. Bitcoin, which has more than doubled in value this year, has surged by 45% in the...
Swiggy posts Rs 3,600 Cr revenue in Q2; Instamart contributes 13.6%
Foodtech and quick commerce giant Swiggy has managed a 30.3% quarter-on-quarter growth in its operating revenue which spiked to Rs 3,601 crore during Q2 FY25 as compared to Rs 2,763 crore Q2 FY24. This growth was largely driven by the expansion of its quick commerce businesses which grew 135% in the last quarter. Swiggy’s food delivery business continues to be...
GST on cigarettes, tobacco, aerated drinks may rise to 35%:
The Group of Ministers (GoM) on GST rate rationalisation has proposed increasing the tax on products such as aerated beverages, cigarettes, and other tobacco-related items to 35%, up from the current rate of 28%, reported news agency PTI. This decision may be a part of a broader effort to adjust tax rates on certain goods to enhance revenue collection. The...
Zomato raises $1B in first major fundraise since 2021 listing
Indian food delivery app Zomato has raised $1 billion from institutional investors, completing its first major fundraise since its 2021 IPO. The food delivery and quick-commerce giant issued approximately 336.5 million shares priced at ₹252.62 each ($3) in a qualified institutional placement, according to a stock exchange filing on Friday. The fundraise saw strong participation from leading Indian mutual funds....
Cyclone Fengal likely to hit Tamil Nadu today, schools and colleges shut in Chennai
The India Meteorological Department (IMD) said that the deep depression over southwest Bay of Bengal is likely to intensify into a cyclonic storm on Wednesday. Once intensified, the storm, identified as cyclone Fengal, will bring heavy to very heavy rainfall at isolated places in Chennai, Tiruvallur, Kancheepuram, Chengalpattu, Villupuram, Ariyalur, Thanjavur, Tiruvarur, Nagapattinam and Pudukkottai districts, whereas extremely heavy rain...
Mahindra launches new XEV 9e and BE 6e electric SUVs
Mahindra has officially launched the XEV 9e and BE 6e, two highly anticipated electric vehicles under its new XUV and BE sub-brands. Both models aim to shake up the EV market with innovative features, bold designs, and competitive powertrains that rival premium offerings like the Mercedes-Benz EQA and BMW iX1. The Mahindra’s BE 6e electric SUV comes with an introductory...
DUSU poll: NSUI makes a comeback after 7 years, wins presidential race
The National Students’ Union of India (NSUI), the Congress-backed student body, made a remarkable comeback in the Delhi University Students’ Union (DUSU) elections, securing the President and Joint Secretary positions after a gap of seven years. In a closely contested race, NSUI’s Rounak Khatri emerged victorious in the presidential race, defeating the RSS-backed Akhil Bharatiya Vidyarthi Parishad (ABVP) candidate Rishabh...
Too little, too distant: India rejects $300 bn climate finance package
India on Sunday fiercely rejected the paltry $300 bn climate finance package for the Global South and said the COP29 presidency and the UN climate change office forced through the deal before allowing it to voice its objections. Making a strong statement on behalf of India at the closing plenary of the UN climate conference here, Chandni Raina, Adviser, Department...