Business

16 Oct

Flipkart’s Big Billion Days sets new record with over 1.4 billion customer visits

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness

A record 1.4 billion customers visited the platform during Flipkart's flagship festival sale event "The Big Billion Days' (TBBD) 2023".The event, which began on October 8 (with early access for VIP and Plus customers from October 7) and ended on October 15, "received a great response from both customers and a wide network of dealers across the country", said head Kalyan Krishnamoorthy. Flipkart Group's Executive Officer. The likes of smartphones, laptops, tablets and home appliances indicate a strong premiumization trend across India this year Televisions, audio devices, smartphones and grooming products were also among the top choices.According to Flipkart officials,…

14 Oct

Delhi Court warns Sanjay Singh against ‘political speeches’

Priyanka BhowmickBusiness, IndiaBusiness, india

A Delhi court had warned Aam Aadmi Party leader Sanjay Singh against using courtrooms to make political speeches. The Rouse Avenue court gave a firm reply while hearing the money laundering case against the AAP MP.When Sanjay Singh raised industrialist Gautam Adani's name in the court, special judge MK Nagpal said, "If you want to give speeches about Adani and (Prime Minister Narendra) Modi, I will ask for your production through video conferencing from now on."In the courtroom, Mr. Singh vehemently complained that the investigating agencies did not act on his allegations against Mr. Adani. The court directed Mr Singh,…

14 Oct

Gold remains flat at Rs 58,910 per 10/gm

Priyanka BhowmickBusiness, IndiaBusiness, india

According to the GoodReturns website, 24-carat gold prices were unchanged in the early hours of Saturday, with ten grams of the precious metal selling at Rs 58,910. Silver prices were also unchanged with 1 kg of the precious metal selling at Rs 72,600.22-carat gold prices remained unchanged from yesterday and the yellow metal was sold at Rs 54,000. Ten grams of 24-carat gold in Mumbai is equivalent to Rs 58,910 in Kolkata and Hyderabad. Ten grams of 24-carat gold in Delhi, Bangalore and Chennai cost Rs 59,060, Rs 58,910 and Rs 60,110 respectively. Ten grams of 22 carat gold in…

13 Oct

Infosys to skip campus hiring this year

Priyanka BhowmickBUSINESS, Business, IndiaBusiness, india

Infosys will not go to college campuses to hire freshers this year as the second-largest Indian IT services company still has a "significant fresher bench" amid declining demand in key markets like the US. In a post-results press conference on Thursday, CEO and MD Salil Parekh said the company is carrying inefficiencies in its employee pyramid and has enough room to tighten utilization to 84-85 percent. Pointing to a significant new bench trained in general AI, CFO Nilanjan Roy said the company is not yet looking to recruit new campuses. “We see, there is no possibility of going to the…

12 Oct

16-Year-Old Pranjali Awasthi launches AI company with a staggering Rs. 100 Crore valuation

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness, india

At the entrance to a storm in the tech world, 16-year-old Indian adult Pranjali Awasthi has made waves with her AI startup, Delv.AI. During the Miami Tech Week event, Awasthi unveiled her Brainchild, revealing that she founded the company in January 2022 and has successfully raised nearly $450,000 (Rs 3.7 crore) in funding. Notably, Delv.AI's LinkedIn profile already brings together a team of 10 dedicated professionals. During the event, Awasthi attributed her entrepreneurial journey to her father. Her passion for technology was ignited at a young age, thanks to her engineer father's passion for the promotion of computer science education…

11 Oct

Google CEO Sundar Pichai reaches out to employees in Israel

Priyanka BhowmickBusiness, IndiaBusiness

Sundar Pichai contacted every Google employee in a company-wide email hours after Hamas launched an attack on Israel on Saturday. He said the company has reached out to all employees working or traveling to Israel and will continue to support them. Full text of email accessed by '9 to 5 Google'. Google CEO Sundar Pichai reiterated the sentiment expressed in his email in a post shared on X this morning. Lamenting the increasing clashes, he said the company's priority was to ensure the safety of workers. “Google has 2 offices and over 2,000 employees in Israel. It’s unimaginable what they’re…

11 Oct

Mukesh Ambani becomes India’s wealthies man

Priyanka BhowmickBusiness, IndiaBusiness, india

Mukesh Ambani from Mumbai has reclaimed his position as India's richest man, according to the 360 ONE Wealth Hurun India Rich List 2023 released on Tuesday. The 66-year-old Reliance Industries chairman's wealth rose 2% from last year to ₹808,700 crore, while Gautam Adani beat him to the number one slot last year, down 57 percent and is now estimated at ₹474,800 crore. Another billionaire who slipped down the rich list this year was investor and D-Mart promoter Radhakishan Damani who lost 18 percent of his wealth in a year, and the family is now worth ₹1,43,900 crore. This year, despite…

10 Oct

Dabur completes its cloud migration

Priyanka BhowmickBusiness, IndiaBusiness, india

Dabur India on Monday said it has become a cloud-only enterprise after successfully migrating its on-prem data centers to Microsoft Azure and SAP RISE. It added that it will use emerging technologies like Open AI for digital transformation. It added that the cloud-only approach will help it significantly improve business resilience and enhance its services to retailers, partners, employees and customers. Global Chief Information Officer of Dabur India Limited, Kaustubh Dabral said, "Agility and business innovation are critical to addressing changing market dynamics and consumer expectations. Harnessing the power of the cloud, artificial intelligence and its powerful data foundation will…

10 Oct

Reliance General Insurance gets GST notices worth Rs 922.58 crore from DGGI

Priyanka BhowmickBusiness, IndiaBusiness, india

The Directorate General of GST Intelligence (DGGI) has issued multiple show-cause notices for a tax claim of Rs 922.58 crore from Reliance General Insurance Company (RGIC), a subsidiary of former Anil Ambani group company Reliance Capital (RCAP). The move assumes significance as RCap, which is currently under a debt resolution process through the National Company Law Tribunal (NCLT), constitutes around 70% of RCap's net worth. RGIC received a total of four show-cause notices – Rs 478.84 crore, Rs 359.70 crore, Rs 78.66 crore and Rs 5.38 crore – on revenue generated from its services such as reinsurance and co-insurance, sources…

09 Oct

MCX gets SEBI tech panel nod to launch new derivatives platform

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness, india

Multi Commodity Exchange of India (MCX) on October 8 said it has received approval from the SEBI Technology Panel to launch a new web-based commodity derivatives platform (CPD) after several delays with the market regulator. "Subsequently, the SEBI Technical Advisory Committee recommended that MCX and MCXCCL may go live with the CDP and inform SEBI of the proposed date of go live," MCX said in a regulatory filing. This development was first reported on October 6 by CNBC-TV18 citing sources. Over the past month, stocks on the Mumbai-based commodity exchange rose 18 percent against a 1.4 percent rise in the…