Yes Bank (Banking ), once one of India’s most promising private lenders, faced a significant crisis in 2020 due to its aggressive lending practices and mounting non-performing assets. The Reserve Bank of India (RBI) had to intervene, and a restructuring plan was implemented with the support of the State Bank of India (SBI) and other private lenders. Fast forward to 2024, and the bank is…
In a strategic decision aimed at expanding its footprint in the healthcare sector, Max Healthcare has announced plans to acquire a controlling 64% stake in Jaypee Healthcare for an enterprise value of ₹1,660 crore. This acquisition, expected to finalize within 30 days, will give Max Healthcare access to Jaypee’s flagship 500-bed hospital in Noida. The deal is part of a collaboration with the…
The Indian real estate sector, already weathering economic headwinds, is now grappling with a significant manpower crisis. According to industry reports, labor shortages have intensified post-pandemic, forcing developers to offer higher wages and additional incentives to attract and retain skilled workers. This shortage is not confined to one area; it’s a national issue that’s hampering…
Meta, the parent company of WhatsApp, is set to roll out an intriguing update for its Android users. Recent reports indicate that WhatsApp is introducing a new feature that enables two-way voice conversations with its in-app artificial intelligence (AI) chatbot, Meta AI. This feature aims to enhance user interaction by incorporating multiple voices, including those of public figures, into the…
Strides Pharma Science has taken a significant step forward by securing shareholder approval to establish OneSource, a specialty Contract Development and Manufacturing Organization (CDMO). This strategic move aligns with the company’s focus on expanding its portfolio and addressing growing demands in the healthcare industry. The approval marks a key milestone for Strides as it works to…
Samsung Electronics is set to lay off over 200 executives from its Indian operations as part of a broader cost-cutting initiative to navigate the challenging smartphone market and increase operational efficiency. This decision impacts approximately 9-10% of its managerial workforce, marking a significant downsizing effort amidst declining sales and fierce competition.
The layoff will affect…
In a significant development, the GST Council has formed a Group of Ministers (GoM) to evaluate the potential reduction of the Goods and Services Tax (GST) levied on health and life insurance premiums. Currently, a steep 18% tax is imposed on both health and life insurance, which has sparked widespread discussions about the burden this places on consumers, especially in a post-pandemic world where…
Hexaware Technologies, a leading digital and technology services company backed by private equity giant Carlyle Group, is gearing up for one of the largest IPOs in recent history. The company has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), seeking to raise Rs 9,950 crore through an Offer for Sale (OFS). This massive public issue stands as the…
Selena Gomez, the beloved singer, actress, and entrepreneur, has officially entered the billionaire ranks. Known for her versatility in the entertainment industry, Gomez’s recent financial milestone is largely attributed to the soaring success of her beauty brand, Rare Beauty.
Rare Beauty, which Gomez launched in 2020, has quickly become a major player in the beauty industry. The brand’s…
Mukesh Ambani’s Reliance Industries Limited (RIL) is poised to make a significant announcement today regarding a bonus share issue. This comes as the company continues to outperform the broader market and maintain its reputation for rewarding shareholders. The bonus announcement, expected to be in a 1:1 ratio, will mark RIL’s sixth such issuance since 2017.
RIL’s stock has…
