 "Gulf Oil International divests 4% stake in Gulf Oil Lubricants India for over Rs 263 crore, impacting share prices dramatically.")
Gulf Oil International Mauritius Inc. has successfully sold a 4 percent stake in Gulf Oil Lubricants India for over Rs 263 crore through open Market transactions. The sale involved approximately 1.95 million shares at an average price of Rs 1,351 each, lowering Gulf Oil International’s ownership from 71.76 percent to 67.8 percent. Notable buyers included ...
 "The shift from VAT to GST ignites fierce debate over inter-state revenue disparities, dramatically reshaping fiscal landscapes across states.")
The shift from value-added tax (VAT) to goods and services tax (GST) has sparked discussions about how different states perform in terms of revenue. Under the previous tax system, states earned revenue from inter-state transactions based on where goods were produced. With GST, however, taxes are collected based on where goods are consumed. This change ...
 "IBBI’s new amendment enhances creditor representation, empowering homebuyers and large creditor groups in India’s corporate insolvency process.")
The Insolvency and Bankruptcy Board of India (IBBI) has updated the rules for the Corporate Insolvency Resolution Process (CIRP) to improve how creditors are represented during insolvency cases. The new regulations, effective from September 24, 2024, introduce the role of an interim representative. This person will step in to represent a group of creditors while ...
 "SBI declares Jet Airways’ liquidation imminent as bidders fail to pay dues, escalating tensions in India’s volatile aviation sector.")
The State Bank of India (SBI) has expressed concern over the ongoing issues with the bankrupt airline Jet Airways, stating that the buyer, Jalan Kalrock Consortium (JKC), is refusing to pay outstanding dues. During a Supreme Court hearing, SBI indicated that liquidation may be the only option left for the airline, as JKC has failed ...
 "Tata Electronics partners with Taiwan’s PSMC to launch India’s first semiconductor Fab, transforming the nation’s tech landscape and job market.")
Tata Electronics, a subsidiary of Tata Sons, has announced a significant partnership with Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) to establish India’s first semiconductor facility in Dholera, Gujarat. This venture will involve a massive investment of up to Rs 91,000 crore and aims to generate over 20,000 direct and indirect jobs. The facility is set ...
 "Prime Minister Modi launched three Param Rudra supercomputers to enhance India’s scientific research, despite event postponements due to severe rain.")
Prime Minister Narendra Modi recently launched three Param Rudra Super Computing Systems and a High Performance Computing system for weather and climate research. The virtual inauguration aimed to enhance India’s self-reliance in supercomputing technology. These supercomputers, costing around Rs 130 crore, are situated in Delhi, Pune, and Kolkata, and are part of the National Supercomputing ...
 "Amazon India gears up for the festive season with enhanced logistics, promising unprecedented speed and service amidst soaring demand.")
Amazon India is enhancing its logistics network for the festive season by partnering with Indian Railways, India Post, and airlines to ensure fast deliveries. Abhinav Singh, VP of Operations, emphasized their commitment to speed, stating that they aim to be quicker than ever before. Recent agreements with Indian Railways have expanded their network to over ...
 "Surging demand for refurbished smartphones, especially iPhones, is transforming India’s market as companies eagerly anticipate festival-season sales.")
The refurbished smartphone Market in India is rapidly growing, with rising demand for premium devices like iPhones. Sellers such as Flipkart, Cashify, and Grest report significant sales increases as the festival season approaches. For instance, Cashify saw a remarkable 444 percent revenue jump from refurbished smartphone sales in 2023. The Market is fueled by advancements ...
 "Accenture announces a billion share buyback as AI demand drives unexpected revenue growth, boosting shares nearly 7%.")
Accenture, the IT services giant, recently announced a significant $4.0 billion share buyback following impressive fourth-quarter revenue results. The company reported earnings of $16.41 billion, slightly beating analysts’ predictions. This growth was largely fueled by increased demand for generative artificial intelligence solutions, which continued to rise for the fourth consecutive quarter. Accenture’s new customer contracts ...
 "SpiceJet settles salary debts and faces operational turmoil, despite raising funds, while market share continues to plummet dramatically.")
SpiceJet, a low-cost airline in India, has cleared all pending salary dues for its employees after raising Rs 3,000 crore through a qualified institutional placement. However, it has recently faced significant financial challenges, including a decline in Market share from 5.6% in January 2023 to just 2.3% in August 2024. The airline owes Rs 3,700 ...
