BUSINESS
I work all day, then go home & play work simulator: Musk
Musk is known for working long hours to run his five companies -- Tesla, SpaceX, Twitter, Neuralink, and the Boring Company. His tweet so far has garnered over 8.8 million views, 127.8k likes and 7,803 retweets. However, his tweet was flooded with hundreds of comments, with some advising him to take a break from work, and some taking a dig at him.
Air India's 1 year under Tata: Controversies cloud turnaround & transformation
Hailing its performance, Air India CEO Campbell Wilson on Friday said, "Taken together, the progress over the last 12 months has been nothing short of stunning, even if so much of what we have been working on has been behind the scenes, building platforms and capabilities so that our future ambitions can take flight.
Hindenburg fraud type assertions are devoid of facts: Adani Group
Of Adani portfolio's nine public listed entity's, eight are audited by one of the Big 6. On leverage or over leverage issue -- 100 of our various companies are rated (these account for nearly 100 per cent of our EBITDA), Adani Enterprises said in a stock exchange filing. On revenue or balance sheet being artificially inflated or managed.
BharatPe paid Rs 1.69 crore salary to Ashneer in FY22, Rs 63 lakh to his wife
Currently, the company is involved in a legal battle with Ashneer, after suing him and his family for allegedly siphoning off company funds worth Rs 88.6 crore. According to its financial statement filed with the Registrar of Company (RoC), its former CEO Suhail Sameer took home Rs 2.1 crore in FY22. Rajnish Kumar, BharatPe Chairman, received Rs 21.4 lakhs, while BharatPe board member Shashvat Nakrani was paid Rs 29.8 lakhs.
Bank unions defer Jan 30-31 strike
According to Venkatachalam, the Indian Banks' Association (IBA) has agreed to hold a meeting with the unions on January 31. At the conciliation meeting held on Friday, it was decided that the three common issues -- five day banking, updation of pension and restoration of old pension scheme -- will be discussed on January 31. The other residual issues will be discussed with respective officers and workmen unions separately.
RBI Governor says current account deficit 'eminently manageable'
"Our financial system remains robust and stable. Banks and corporates are healthier than before the crisis. Bank credit is growing in double digits. India is widely seen as a bright spot in an otherwise gloomy world. Our inflation remains elevated, but there has been a welcome softening during November and December 2022. Core inflation, however, remains sticky and elevated,"
As short selling report roils markets, SBI defends exposure
The statement comes at a critical juncture with markets tanking on the basis of a short selling report from Hindenburg Research with the Adani Group caught in a maelstrom losing Rs 4.18 trillion in market cap in two trading sessions. The report by US-based investment research firm Hindenburg Research alleged that the group was engaged in "a brazen stock manipulation and accounting fraud scheme".
Short selling report turns markets into 'Fryday'
A 32,000-word report by American short-seller Hindenburg Research has left a Rs 4 lakh crore gash on the portfolios of bulge bracket Adani bulls which have been enjoying the gravity defying valuations since the Adani Wilmar public issue more or less a year ago. Every word shaving off Rs 12.5 crore from the valuation.
TI Clean Mobility buys balance 30% in E-tractor company Cellestial for Rs 50.94 cr
Cellestial is a startup engaged in design and development of electric tractors. TI Clean Mobility holds 69.96 per cent in Cellestial. The paid up capital of Cellestial is Rs 20.25 lakh, and it logged revenue of Rs 65.58 lakh as on December 31, 2022.
"The acquisition of the remaining stake in Cellestial will help TICMPL (TI Clean Mobility) consolidate its holding in the electric tractors business and maximise value to the company.
Tata Motors to hike prices of its passenger vehicles
Automobile major Tata Motors on Friday announced a price hike across its internal combustion engine (ICE) passenger vehicles. "Effective February 1, 2023, the weighted average increase will be 1.2 per cent, depending on the variant and model," the company said.
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