Author: Neelam Kansarali

Happiest Minds Technologies’ board of directors approved a Rs 1,400 crore equity or debt bond raise on Wednesday. According to the filing, the company has the option of raising funds through a public offering, preferred allotment, private placement, or other means. Happiest Minds Technologies, an IT services company, gained clearance from its board of directors on Wednesday to raise to Rs. 1,400 crores. Happiest Minds announced a 57% increase in total net profit in the first quarter that ended June 30, 2022, at Rs 53.34 crore. During the reported quarter, the company’s consolidated revenue from operations increased 34.46 per cent…

Elon Musk, CEO of Tesla, made a proposal to purchase Twitter on Tuesday for the originally agreed-upon $44 billion price, bringing the tumultuous narrative of his on-again, off-again acquisition of the firm to an end. Weeks before the commencement of a bitter legal battle over his attempts to back out of the transaction, Elon Musk on Tuesday offered to move forward with the purchase of Twitter at the originally agreed-upon price. In a filing with the Securities and Exchange Commission, the richest man in the world said that he wrote Twitter a letter promising to uphold the agreement. The most…

IT firms like Wipro, Infosys, and Tech Mahindra are said to have withdrawn offer letters from many candidates after delaying their onboarding process for months. According to sources, hundreds of freshers who had accepted offers from tech behemoths had their offer letters annulled after a 3–4-month delay in the onboarding process. Major IT sectors in the country, such as Wipro, Infosys, and TCS, are losing IT graduates due to the delayed onboarding process, as the latter are looking for other positions as onboarding delays exceed six months. Aside from that, both Graduating students and their engineering colleges are concerned that…

Suzlon Energy Limited a manufacturer of wind turbines, is preparing for a Rs 1,200 rights issue that begins on October 11. This comes after the company’s founder and chairman Tulsi Tanti passed away unexpectedly. Suzlon Energy announced on Monday that it would continue with its Rs 1,200 crore rights issue that would begin on October 11. The company has notified the stock exchanges that its promoters have indicated again that they will be participating in the rights issuance. The regulatory filing stated that “promoters and promoter group have reconfirmed their participation in the proposed rights issue and have expressed their…

Elon Musk, CEO of Tesla, demonstrated a prototype of its humanoid robot ‘Optimus,’ which waved to a delighted crowd during the company’s artificial intelligence event on Friday. Musk plans to produce “millions” of Optimus and sell them for less than $20,000 within three to five years. Tesla AI Day 2022 was held on Friday to demonstrate how far the company’s research on autonomous robots and vehicles has progressed. The event provided us with the first look at the Optimus robot, updates on self-driving software, and a first glance at the Dojo hardware powering Tesla’s AI research. Everything about Optimus -…

Tata Motors announced on Saturday that its total domestic sales surged by 44% in September to 80,633 units. In September 2021, the company delivered 55,988 units to dealers. The Mumbai-based carmaker Tata Motors, recorded an 85% increase in total domestic passenger vehicle dispatches this month, reaching 47,654 units, compared to 25,730 units in September 2021. Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles, stated that the business had its highest ever monthly sales of 47,654 last month, spearheaded by record Nexon and Punch sales. Tata Motors revealed today its sales performance in home and foreign markets for the month…

Union Minister Nitin Gadkari on Friday requested German premium automobile maker Mercedes-Benz to create more cars in India, emphasizing that doing so lowers costs while also boosting affordability. A comprehensive trade agreement between India and the European Union might pave the way for Mercedes-Benz to make more automobiles in the South Asian country, potentially turning it into an export powerhouse, according to Mercedes’ national leader. The European Union and India started free trade discussions in June, with the goal of concluding them by the end of 2024. The talks began in 2007 but were halted in 2013 due to a…

Reliance Retail has announced the launch of its Reliance Centro fashion and lifestyle department store model. Isha Ambani is now new in charge of Reliance’s luxury and lifestyle venture. The first store opened in Vasant Kunj, Delhi. According to the corporation, this format would deal with over 300 Indian and international brands’ clothes, footwear, cosmetics, lingerie, sporting, luggage, and accessories. Isha Ambani headed Reliance Industries’ limited retail unit opened its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led corporation continues to expand its presence in India’s luxury sector. With its assortment of garments, footwear,…

The US Securities and Exchange Commission (SEC) has fined Oracle USD 23 million for allegedly breaking the Foreign Corrupt Practices Act (FCPA). According to reports, the corporation set up slush funds to pay off foreign agents in the United Arab Emirates, Turkey, and India. According to the SEC, Oracle India workers engaged in a transaction with a transportation business operated by the Ministry of Railways that involved an unreasonable discount plan. This is the second time the SEC has accused Oracle of breaking the federal Foreign Corrupt Practices Act (“FCPA”), which prohibits bribery, in relation to alleged violations that occurred…

Indian billionaire, and CEO of Adani Groups, Gautam Adani said that the second-largest economy in the world, China, will feel more alone as a result of rising nationalism, changes in supply chains, and technological restraints, on Tuesday at Forbes Global CEO Conference in Singapore. According to Indian billionaire Gautam Adani, China “would feel increasingly isolated” and would struggle to recover from a period of economic stagnation. China, long a leader in globalisation, is now encountering difficulties, according to Adani. Adani predicts that China, which was once regarded as the leading proponent of globalisation, will feel more alone. Restrictions on technology,…