Sensex crosses 71k led by IT stocks
New Delhi, Dec 15 (SocialNews.XYZ) BSE Sensex crossed the 71,000 points mark on Friday led by heavyweight IT stocks. BSE Sensex was up 559 points at 71,108 points The biggest gainer in the Sensex are…
Business
Realty stocks made highest gains this year
New Delhi, Dec 15 (SocialNews.XYZ) For the year ending November 23, realty (59 per cent) and auto (33 per cent) made the highest gains, while bank (3 per cent) was the lowest performer, according to…
Major UP depts have spent only 50% of allotted budget
Lucknow, Dec 15 (SocialNews.XYZ) Major departments in the Uttar Pradesh government have managed to spend only about 50 per cent of the budgetary allocations for various development projects in 2023-2024 (till mid-December). As the sanctions…
E-commerce & fintech firm Bolt lays off 29% of staff
San Francisco, Dec 15 (SocialNews.XYZ) US-based e-commerce and fintech company Bolt has confirmed it laid off 29 per cent of its staff. According to a Bolt spokesperson, the company made the cuts to get Bolt…
SBI hikes interest rate on loans
Mumbai, Dec 15 (SocialNews.XYZ) The State Bank of India (SBI) has hiked its base rate of lending from 10.10 per cent to 10.25 per cent which is likely to lead to an increase in the…
Hero MotoCorp acquires extra 3% stake in Ather Energy for Rs 140 cr
New Delhi, Dec 15 (SocialNews.XYZ) Hero MotoCorp has acquired an additional 3 per cent stake in electric vehicle manufacturer Ather Energy for nearly Rs 140 crore. Hero MotoCorp made the investment through the purchase of…
Corporate earnings impact of lower interest rates is muted
New Delhi, Dec 15 (SocialNews.XYZ) Fed’s dovish comments portend three rate cuts in CY24 and have turned market sentiment decisively. We expect the RBI to follow suit with concurrent rate cuts, Emkay Global Financial Services…
Infibeam Avenues up 5% in trade after announcing foray into capital markets software
New Delhi, Dec 15 (SocialNews.XYZ) Infibeam Avenues is up 5 per cent in trade after it announced an acquisition of a 49 per cent stake in Pirimid Fintech. Infibeam Avenues is trading at Rs 23.67,…
Global coal demand expected to decline in 2026: IEA
New Delhi, Dec 15 (SocialNews.XYZ) After reaching an all-time high this year, global coal demand is expected to decline in 2026 by 2.3 per cent, said the latest edition of the International Energy Agency’s (IEA)…
E-com player Temu sues Shein for ‘Mafia-style’ intimidation of merchants
San Francisco, Dec 15 (SocialNews.XYZ) Growing e-commerce marketplace Temu has sued its rival Shein, alleging that the online shopping giant is using “Mafia-style” intimidation tactics on merchants. In the lawsuit filed in the US, Temu…
‘Project Kuiper’ internet satellites will operate like a mesh network: Amazon
San Francisco, Dec 15 (SocialNews.XYZ) Amazon’s ‘Project Kuiper’ internet satellite system has completed successful tests of an optical mesh network in low-Earth orbit. After demonstrating 100 Gbps optical links between its prototype satellites, Project Kuiper…
European Central Bank holds rates steady
Frankfurt, Dec 15 (SocialNews.XYZ) The European Central Bank (ECB) has decided to leave its key interest rates unchanged. The interest rates on the main refinancing operations, the marginal lending facility and the deposit facility will…
Over 300 MoUs for Rs 50,000 crore investment signed at Bihar business summit
Patna, Dec 15 (SocialNews.XYZ) As many as 302 domestic and foreign companies have signed MoUs, entailing investment of more than Rs 50,000 crore in various sector, with the Bihar government in the two-day Bihar Business…
Nikhil Kamath-backed Third Wave Coffee lays off over 100 employees
New Delhi, Dec 14 (SocialNews.XYZ) Zerodha Co-founder and CEO Nikhil Kamath-backed specialty coffee brand Third Wave Coffee has laid off more than 100 employees, the media reported on Thursday. Employees across verticals such as tech,…
Nothing’s India head Manu Sharma moves on, company says ‘best of luck’
New Delhi, Dec 14 (SocialNews.XYZ) Consumer electronics brand Nothing’s India head Manu Sharma is moving on and will stay with the company till the end of January. In a LinkedIn post on Thursday, Sharma posted…
Adani Group to invest Rs 8,700 crore in Bihar
Patna, Dec 14 (SocialNews.XYZ) The Adani Group will invest Rs 8,700 crore in Bihar, a senior official of the company said during the Bihar Business Connect-2023, a two-day global investors summit that concluded on Thursday….
Change of guard: Two mega projects in Hyderabad put on hold
Hyderabad, Dec 14 (SocialNews.XYZ) Putting on hold the Hyderabad Airport Metro Rail project and the plans to develop mega township on the land acquired for Pharma City near Hyderabad are the two major decisions taken…
Lenovo invests $1bn to boost AI infrastructure solutions
New Delhi, Dec 14 (SocialNews.XYZ) Consumer electronics major Lenovo on Thursday announced that it has invested $1 billion to accelerate artificial intelligence (AI) infrastructure solutions and launched new hybrid cloud platforms and services. Lenovo unveiled…
Calcutta HC rules in favour of Harsh Vardhan Lodha continuing as M.P. Birla Group Chairman
Kolkata, Dec 14 (SocialNews.XYZ) The Calcutta High Court on Thursday ruled in favour of Harsh Vardhan Lodha as the Chairman of the M.P. Birla Group. A division bench of Chief Justice T.S. Sivagnanam and Justice…
RBI fines four banks in Mumbai and Pune
Mumbai, Dec 14 (SocialNews.XYZ) The RBI has imposed monetary penalties on one bank in Mumbai and three co-operative banks in Pune in separate cases involving the violation of the apex bank’s norms. The RBI has,…