India’s forex exchange reserves rise at fastest pace since August 2021
India's foreign exchange reserves rose to $544.72 billion in the week through November 11, marking their biggest weekly jump in more than a year, the Reserve Bank of India's (RBI)…
Flipkart burns over USD 3.7 billion cash in a year till September 2022
E-commerce major Flipkart has burnt cash of USD 3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had USD 1 billion…
Elon Musk sells $3.95 billion worth of Tesla stock
Twitter’s new owner and Tesla CEO Elon Musk sold nearly $4 billion worth of Tesla shares, according to regulatory filings. Musk, who bought Twitter for $44 billion, sold 19.5 million…
India becomes Skoda’s third- largest market
Skoda Auto India sold 38,300 cars during January-September 2022, up 186.9% over the same period last year, which makes India its third-largest market globally, after Germany (100,700 cars) and Czech Republic…
HUL, GSK Asia and GSK Consumer will terminate distribution agreement
Fast-Moving Consumer Goods (FMCG) major Hindustan Unilever, GlaxoSmithKline Asia, and GlaxoSmithKline Consumer have mutually agreed to terminate the distribution agreement of Over-The-Counter (OTC) products. The OTC products included Crocin, Eno, Iodex, Otrivin,…
Toyota Kirloskar forays into CNG segment; introduces 2 new models
Toyota Kirloskar Motor on Wednesday announced its foray into the CNG segment with the launch of Glanza and Urban Cruiser Hyryder trims with the environment-friendly powertrain. The two CNG trims of Glanza are priced at…
Edelweiss to slash wholesale loan book to Rs 2,900 crore in 2 years
Edelweiss Financial Services group plans to further reduce its wholesale loan portfolio, which sits on the balance sheet in the next two years, to Rs 2,900 crore by September 2024, aided by strong investor demand. Its…
Govt to sell up to 1.55% in Axis Bank held through SUUTI
The union government, through the Specified Undertaking of the Unit Trust of India (SUUTI), a promoter of Axis Bank, will sell up to 1.55% of the total issued and paid-up…
Amazon becomes world’s first public company to lose $1 trillion in market value
Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value as a combination of rising inflation, tightening monetary policies and disappointing earnings updates triggered…
HDFC Mutual Fund launches business cycle fund
HDFC Asset Management Company Ltd has announced the launch of a business cycle fund, which aims to invest in businesses likely on the cusp or midst of a favourable business…
