Economy news

• Reliance Jio Loses Over 1.6 Crore Subscribers In Four Months

  23-12-2024 14:00 via zeenews.india.com
  
  Airtel lost 24 lakh subscribers in August 2024 and 16 lakh subscribers in July 2024. Vodafone Idea lost more than 19 lakh mobile subscribers in October, compared to a decline of 15.5 lakh in September. 
  
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• US sues Walmart, Branch Messenger for exploiting delivery drivers with $10 million junk fees: 'Companies cannot force workers...'

  24-12-2024 01:57 via timesofindia.indiatimes.com
  
  The CFPB sued Walmart and Branch Messenger for allegedly requiring gig delivery drivers to use specific accounts, leading to over $10 million in fees. The lawsuit claims drivers were misled about payment access, while being threatened with termination. Both companies deny the allegations.
  
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• Wall Street shrugs off weak data as Big Tech stocks rally

  23-12-2024 23:52 via timesofindia.indiatimes.com
  
  A rebound in stocks was driven by significant gains in technology giants Tesla and Nvidia, helping the 'Magnificent Seven' megacaps rise over 1%. Despite a weak US consumer confidence report causing a brief dip, experts forecast a likely Santa Claus rally this year. Thin trading marked the holiday-shortened week's start, with volumes down by around 20%.
  
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• 10,000% stock rally ends with Sebi suspension over false disclosures

  23-12-2024 23:47 via timesofindia.indiatimes.com
  
  BSE has suspended trading in Bharat Global Developers after a Sebi investigation revealed a pump-and-dump scam, leading to a 10,000% rise in its stock price. Sebi has barred several entities involved and accused the company of making false disclosures to boost stock prices.
  
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• Sensex breaks 5-session losing run, rises 499 points

  23-12-2024 23:45 via timesofindia.indiatimes.com
  
  The sensex closed 499 points higher at 78,540 on Monday with gains in financials and IT stocks, influenced by softer US inflation data. Domestic funds recorded a net inflow of Rs 2,228 crore. HDFC Bank, Reliance Industries, ITC, and ICICI Bank were major contributors to the rally.
  
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• Will focus on quality public spending: Government

  23-12-2024 23:41 via timesofindia.indiatimes.com
  
  The finance ministry has informed Parliament that the government's focus is on enhancing the quality of public spending, while also strengthening social security for the underprivileged. Despite global economic instability, the government is committed to reducing the fiscal deficit to under 4.5% by next financial year, emphasizing higher capital expenditure and reducing wasteful spending.
  
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• Razorpay initiates HQ shift to India from US, eyes IPO in 2026

  23-12-2024 23:39 via timesofindia.indiatimes.com
  
  Fintech unicorn Razorpay is relocating its headquarters from the US to India, aiming to go public by 2026. Despite potential tax implications, the reverse flipping process is underway, with RBI approval and NCLT involvement. Razorpay's valuation stands at $7.5 billion.
  
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• Indian IT sector's C-suite churn continues

  23-12-2024 23:26 via timesofindia.indiatimes.com
  
  The IT industry has undergone notable leadership changes over the past two years, with significant shifts at companies like Wipro, Infosys, and Tech Mahindra. Key executives have been replaced, often with internal promotions. Succession planning strategies and new CEO hires have influenced these transitions.
  
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• India to be key challenge as Honda, Nissan talk merger

  23-12-2024 23:20 via timesofindia.indiatimes.com
  
  Japanese companies Honda and Nissan plan to merge operations in response to tough business challenges, potentially affecting their global and Indian markets. The merger faces complexities in India due to independent production setups and Nissan's partnership with Renault. The future of Nissan and Renault's collaboration in Chennai remains uncertain.
  
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• New Triumph Speed Twin 900 Launched - Price, Features, And Specifications

  23-12-2024 16:03 via zeenews.india.com
  
  Triumph Speed Twin 900: Triumph has introduced the 2025 Speed Twin 900 in India, priced at Rs 8.89 lakh (ex-showroom).
  
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• Two Lakh Noise Barriers Installed Along Viaduct Of Mumbai-Ahmedabad Bullet Train Corridor

  23-12-2024 14:41 via zeenews.india.com
  
  Bullet Train: The Mumbai-Ahmedabad Bullet Train Project has achieved a significant milestone with the installation of 206,000 noise barriers along both sides of the 103 km viaduct.
  
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• Stock Markets To Remain Open For Trade On Union Budget 2025 On February 1

  23-12-2024 14:24 via zeenews.india.com
  
  Union Budget 2025: Finance Minister Nirmala Sitharaman has so far held a series of meetings with various stakeholders, including MSMEs, farmers' associations, and economists 
  
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• How To Plan Tax-Saving Investments Under Section 80C; Check Here

  23-12-2024 13:17 via zeenews.india.com
  
  Tax-Saving Investments Under Section 80C: It is important to note that the Section 80C of the Income Tax Act, of 1961, is one of the most popular and widely used sections for tax-saving purposes in India. 
  
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• MG Cyberster To Get Dual-Motor Powertrain With Slimmest 77kWh Battery

  23-12-2024 12:20 via zeenews.india.com
  
  MG Cyberster: MG Select, a luxury brand channel of JSW MG Motor India, announced that MG Cyberster, the company's upcoming sports EV, will boast a dual-motor powertrain setup with the slimmest 77 kWh battery pack of 110mm thickness.
  
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• Indian Railways plans centrally heated sleeper train, special Vande Bharat chair car for Kashmir - check features

  23-12-2024 12:00 via timesofindia.indiatimes.com
  
  Indian Railways is set to launch two new train services for enhanced Kashmir connectivity. A centrally heated sleeper train will connect New Delhi and Srinagar, offering a 13-hour premium journey.
  
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• Tata To Unveil At Least 2 BIG SUVs In January 2025 - What We Know So Far

  23-12-2024 10:49 via zeenews.india.com
  
  Upcoming Tata SUV: Tata Motors is gearing up to strengthen its electric vehicle (EV) lineup in 2025 with three key launches: the Harrier EV, Sierra EV, and Safari EV.
  
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• Amrit Bharat Station Scheme To Redevelop Railway Stations To Open Up Rs 30,000 Cr Worth Biz Opportunities: Report

  23-12-2024 09:50 via zeenews.india.com
  
  Earlier, the Government of India had envisaged the majority of the station redevelopment projects under the Public-Private-Partnership (PPP) mode, which accounted for around 12 per cent of the National Monetisation Pipeline (NMP) target. 
   
  
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• Bitcoin posts its first weekly decline since Trump’s victory

  23-12-2024 09:18 via timesofindia.indiatimes.com
  
  Bitcoin experienced its first weekly decline since Trump's election win, dropping over 7% due to the Fed's cautious policy outlook.This impacted the broader crypto market, which fell about 10%.Experts predict a choppy short-term outlook but remain bullish for Bitcoin into early 2025, with a significant options expiry event expected on December 27th.
  
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• Stock market holidays 2025: BSE, NSE release holiday calendar for 2025 - check full list of month-wise stock market holidays

  23-12-2024 09:03 via timesofindia.indiatimes.com
  
  Stock market holidays 2025: Indian stock exchanges, BSE and NSE, have announced 14 trading holidays for 2025.These include festivals like Holi, Diwali, and Christmas, along with observances such as Maharashtra Day and Mahatma Gandhi Jayanti. Check the full stock market holidays list for 2025 here:
  
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• Indian Railways: Pilot Doesn't Have To Look Outside For Signal - Know The Role Of 'Kavach' In Trains

  23-12-2024 07:18 via zeenews.india.com
  
  Railway Minister Ashwini Vaishnaw highlighted the working of 'Kavach' installed by his ministry in the trains as parts of north India witness dense fog. 
  
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• Eastern Railway: 30 Pairs Of Trains canceled Till February 1 - Here's Why

  23-12-2024 06:52 via zeenews.india.com
  
  Passengers will have a tough time commuting in the Eastern Railway's Howrah division as it announced cancellation of 30 pairs of suburban trains daily till February 1 next year.
  
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• Japan’s Shinkansen bullet trains to be tweaked for India’s first Mumbai-Ahmedabad high-speed rail corridor - details here

  23-12-2024 06:40 via timesofindia.indiatimes.com
  
  India and Japan are finalizing designs for bullet trains on the Mumbai-Ahmedabad corridor, modifying Shinkansen trains for Indian conditions.These modifications include enhanced luggage capacity, higher temperature tolerance, and dust resistance.
  
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• Namo Bharat Train: Get 10% Discount On Tickets - Check Details

  23-12-2024 06:34 via zeenews.india.com
  
  Namo Bharat Train: Namo Bharat train commuters can avail a 10% discount on tickets purchased through the RRTS Connect mobile application as part of the "loyalty points program" launched by NCRTC, an official statement said.
  
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• Number Of Debt Workout Scheme Applicants Expected To Hit Record High In 2024

  23-12-2024 06:19 via zeenews.india.com
  
  Notably, the number of self-employed individuals, mostly those running small businesses, seeking to join the program reached 26,267 as of end-November, already exceeding last year's record of 25,024. 
  
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• Indian Market Opens In Green Amid Positive Mixed Global Cues

  23-12-2024 06:00 via zeenews.india.com
  
  In the Sensex pack, Tata Steel, Tech Mahindra, Bajaj Finance, HCL Tech, HDFC Bank, ICICI Bank and Bharti Airtel were the top gainers. Whereas, Zomato and NTPC were the top losers. 
  
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• Stock market today: BSE Sensex surges over 500 points; Nifty50 above 23,750

  23-12-2024 04:48 via timesofindia.indiatimes.com
  
  Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, surged in trade on Monday morning. While BSE Sensex was above 78,600, Nifty50 was above 23,750.
  
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• Stock market today: BSE Sensex closes almost 500 points up; Nifty50 rebounds after worst week since June 2022

  23-12-2024 04:48 via timesofindia.indiatimes.com
  
  Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in trade on Monday to close in green. While BSE Sensex closed almost 500 points up, Nifty50 was above 23,750.
  
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• Canon eyes business from chip companies setting up India operations

  22-12-2024 20:07 via timesofindia.indiatimes.com
  
  Canon sees a promising opportunity in India's burgeoning semiconductor market.The company is negotiating with chip manufacturers setting up facilities in India to supply its lithography equipment.Canon is optimistic about achieving double-digit growth in the coming years, driven by India's strong economic outlook and expanding industries.
  
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• Epigamia co-founder Rohan Mirchandani dies at 42

  22-12-2024 20:05 via timesofindia.indiatimes.com
  
  Rohan Mirchandani, the 42-year-old co-founder of Epigamia, passed away from a sudden cardiac arrest.He established the company in 2013, introducing flavored Greek yogurt to India.Epigamia's leadership and board, including Mirchandani's family, will continue his work.His death is a loss to the entrepreneurial community.
  
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• Bollywood-backed realtor Lotus looks at Rs 1,000 crore IPO

  22-12-2024 20:03 via timesofindia.indiatimes.com
  
  Bollywood luminaries, including Amitabh Bachchan, Shah Rukh Khan, and Hrithik Roshan, have acquired stakes in Sri Lotus Developers & Real Estate ahead of its anticipated IPO. The Mumbai-based luxury real estate developer recently raised approximately ₹407.6 crore through a private placement of shares, with prominent figures from the financial sector also participating.
  
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