BUSINESS
IPO-bound FirstCry files DRHP, aims to raise Rs 1,816 cr
FirstCry’s parent company BrainBees Solutions filed the DRHP which includes offer-for-sale (OFS) comprising 5.4 crore equity shares.
Stabilization in Oil Prices as Red Sea Transport Disruptions Ease
The decrease in prices, nearly 2% on Wednesday, coincided with major shipping companies resuming operations in the Red Sea.
Surge in Market Volatility Index Indicates Increased Market Uncertainty
Reflecting on the market outlook outlined earlier, James acknowledges the underestimated strength of the underlying uptrend, leading to a breach of the previously anticipated objective of 21540.
Zomato Stock Declines Following Issuance of Rs 400 Crore Show-Cause Notice for GST Dues
Reports suggest that the show-cause notice to Zomato covers the period from October 29, 2019, to March 31, 2022. Zomato responded by stating that it firmly believes it is not obligated to pay any tax as the delivery charge is collected on behalf of the delivery partners. According to a regulatory filing, Zomato asserted that, based on mutually agreed contractual terms and conditions, the delivery partners provided services to customers, not the company.
Legal Action Against Chanda Kochhar and 10 Others for Alleged Fraud Involving Tomato Paste Company
The Economic Offence Wing of the Delhi Police subsequently filed an FIR on December 20, citing charges of cheating and criminal conspiracy.
RBI Report Reveals Double-Digit Growth in Banks Fueled by Retail, Services Credit
In 2022-23, the consolidated balance sheet of SCBs expanded by 12.2%, primarily propelled by increased credit to the retail and services sectors.
RBI Greenlights C.S. Rajan as Part-Time Chairman for Kotak Mahindra Bank
Expressing gratitude for the appointment, Rajan shared his deep humility and honor in accepting the role as Chairman, acknowledging the Board's trust in him to elevate the Bank's performance and enhance stakeholder value.
Indian Workforce Shows 59% Willingness to Embrace AI: Report
However, the report by global hiring platform Indeed highlighted that only 19% of surveyed employers have initiated or are in the process of integrating advanced technologies like Generative AI into their workplaces by 2024.
Global Market Surge Propels Nifty, Sensex to All-Time Highs
All sectoral indices, except for oil & gas and power, closed in positive territory, with auto, bank, and metals sectors each witnessing a 1% rise, contributing to the overall market uptrend.
Bullish Momentum Propels Sensex Beyond Historic 72K Mark
Closing the day at 72,038.43, the Sensex witnessed a nearly 1% increase, marking an exceptional high. Simultaneously, the Nifty reached an all-time peak of 21,654.75, surging by 1% or 213 points.
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