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Swiggy's much-anticipated entry into the stock market on Wednesday created over 500 new "crorepatis" among its current and former employees. The food delivery and quick commerce giant’s listing is set to unlock approximately ₹9,000 crore in Employee Stock Option Plans (ESOPs) for around 5,000 employees, according to sources familiar with the matter.
Swiggy’s IPO was priced in the range of ₹371-390 per share, with shares debuting at a premium, listing at
Swiggy's much-anticipated entry into the stock market on Wednesday created over 500 new "crorepatis" among its current and former employees. The food delivery and quick commerce giant’s listing is set to unlock approximately ₹9,000 crore in Employee Stock Option Plans (ESOPs) for around 5,000 employees, according to sources familiar with the matter.
Swiggy’s IPO was priced in the range of ₹371-390 per share, with shares debuting at a premium, listing at
In just two days, equity investors faced a staggering loss of ₹13 lakh crore in market valuation as the BSE benchmark Sensex saw a sharp 2.27% drop. The benchmark index shed 1,805.2 points, with a 984.23-point decline on Wednesday, November 13, 2024, ending at 77,690.95.
Experts cited soaring retail inflation, which hit a 14-month high of 6.21% in October, persistent foreign fund outflows, and muted corporate earnings as the primary reasons behind the significant market correction
In just two days, equity investors faced a staggering loss of ₹13 lakh crore in market valuation as the BSE benchmark Sensex saw a sharp 2.27% drop. The benchmark index shed 1,805.2 points, with a 984.23-point decline on Wednesday, November 13, 2024, ending at 77,690.95.
Experts cited soaring retail inflation, which hit a 14-month high of 6.21% in October, persistent foreign fund outflows, and muted corporate earnings as the primary reasons behind the significant market correction
The article highlights the significant increase in the number of wealthy individuals in India, specifically those reporting taxable incomes exceeding Rs 1 crore annually. Over 220,000 people now fall into this high-income bracket, with more than 100,000 of them joining in just the past three years. This sharp rise is attributed to the rapid economic growth in India, particularly in sectors such as technology, finance, and entrepreneurship. These industries have driven the creation of substant
The article highlights the significant increase in the number of wealthy individuals in India, specifically those reporting taxable incomes exceeding Rs 1 crore annually. Over 220,000 people now fall into this high-income bracket, with more than 100,000 of them joining in just the past three years. This sharp rise is attributed to the rapid economic growth in India, particularly in sectors such as technology, finance, and entrepreneurship. These industries have driven the creation of substant
In October, Indian investors showed strong confidence in mutual funds, investing a record Rs 25,323 crore through Systematic Investment Plans (SIPs), despite a turbulent stock market. This historic investment pushed the total number of SIP folios past 10 crore for the first time. SIP contributions hit this new peak just six months after surpassing Rs 20,000 crore, according to data released by the Association of Mutual Funds in India (Amfi).
Equity mutual funds recorded net inflows
In October, Indian investors showed strong confidence in mutual funds, investing a record Rs 25,323 crore through Systematic Investment Plans (SIPs), despite a turbulent stock market. This historic investment pushed the total number of SIP folios past 10 crore for the first time. SIP contributions hit this new peak just six months after surpassing Rs 20,000 crore, according to data released by the Association of Mutual Funds in India (Amfi).
Equity mutual funds recorded net inflows
The Reserve Bank of India (RBI) has reported an increase in its gold reserves, which now stand at 854.73 metric tonnes as of September 2024, up from 822.10 metric tonnes in March 2024. According to the half-yearly report on the management of foreign exchange reserves released on Tuesday, this increase indicates a strategic shift by the central bank amid rising geopolitical tensions, persistent inflation, and a stable interest rate environment.
Out of the total gold reserves, 510.46
The Reserve Bank of India (RBI) has reported an increase in its gold reserves, which now stand at 854.73 metric tonnes as of September 2024, up from 822.10 metric tonnes in March 2024. According to the half-yearly report on the management of foreign exchange reserves released on Tuesday, this increase indicates a strategic shift by the central bank amid rising geopolitical tensions, persistent inflation, and a stable interest rate environment.
Out of the total gold reserves, 510.46
Adani Enterprises Ltd. (AEL) reported a substantial 664% increase in its consolidated net profit for the September quarter, reaching ₹1,742 crore, compared to ₹228 crore in the same period last year. The company’s revenue from operations also rose by 16%, totaling ₹22,608 crore, up from ₹19,546 crore in the previous year.
Stock Performance and Metrics
Following the earnings announcement, shares of Adani Enterprises rose by 2% to ₹2,849. The
Adani Enterprises Ltd. (AEL) reported a substantial 664% increase in its consolidated net profit for the September quarter, reaching ₹1,742 crore, compared to ₹228 crore in the same period last year. The company’s revenue from operations also rose by 16%, totaling ₹22,608 crore, up from ₹19,546 crore in the previous year.
Stock Performance and Metrics
Following the earnings announcement, shares of Adani Enterprises rose by 2% to ₹2,849. The
Bitcoin surged past $73,000 on Tuesday, approaching its all-time peak as investors eagerly anticipated the upcoming U.S. presidential election.
According to Coin Metrics, Bitcoin’s value recently climbed by 3.8%, settling around $72,333.10. Earlier, it spiked to $73,601.59, its highest point since March 14—the same day it reached its record price.
This rise triggered significant short liquidations, totaling over $113 million in the last 24 hours, as reported by
Bitcoin surged past $73,000 on Tuesday, approaching its all-time peak as investors eagerly anticipated the upcoming U.S. presidential election.
According to Coin Metrics, Bitcoin’s value recently climbed by 3.8%, settling around $72,333.10. Earlier, it spiked to $73,601.59, its highest point since March 14—the same day it reached its record price.
This rise triggered significant short liquidations, totaling over $113 million in the last 24 hours, as reported by
As the U.S. Presidential Election 2024 nears, Indian investors are closely watching its potential effects on the IT sector, which relies heavily on the U.S. market. Indian IT giants, including TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra, derive a substantial portion of their revenue from American clients, making this election significant for their growth prospects. The India Brand Equity Foundation projects India’s IT and business services market to reach approximately $19.
As the U.S. Presidential Election 2024 nears, Indian investors are closely watching its potential effects on the IT sector, which relies heavily on the U.S. market. Indian IT giants, including TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra, derive a substantial portion of their revenue from American clients, making this election significant for their growth prospects. The India Brand Equity Foundation projects India’s IT and business services market to reach approximately $19.
The Indian government is set to review the windfall tax on crude oil after recently reducing the tax to nil, as reported by Bloomberg News. Tarun Kapoor, advisor to the Prime Minister, confirmed that the oil ministry has requested the removal of the windfall tax on crude oil output during a press briefing at the World Biogas Associations' India Conference in New Delhi.
Previously, the windfall tax was set at ₹1,850 per tonne as of September 17, but it was eliminated effective
The Indian government is set to review the windfall tax on crude oil after recently reducing the tax to nil, as reported by Bloomberg News. Tarun Kapoor, advisor to the Prime Minister, confirmed that the oil ministry has requested the removal of the windfall tax on crude oil output during a press briefing at the World Biogas Associations' India Conference in New Delhi.
Previously, the windfall tax was set at ₹1,850 per tonne as of September 17, but it was eliminated effective
The Reserve Bank of India (RBI) has reduced its GDP growth forecast for India to 6.8% for the second quarter of fiscal 2024-25, a decrease of 20 basis points. In its October bulletin titled "State of the Economy," the RBI attributed this revision to a slackening momentum observed in some high-frequency indicators, which were partially impacted by unusual heavy rainfall in August and September.
This latest forecast is lower than the previous projection of 7% made by RBI Gov
The Reserve Bank of India (RBI) has reduced its GDP growth forecast for India to 6.8% for the second quarter of fiscal 2024-25, a decrease of 20 basis points. In its October bulletin titled "State of the Economy," the RBI attributed this revision to a slackening momentum observed in some high-frequency indicators, which were partially impacted by unusual heavy rainfall in August and September.
This latest forecast is lower than the previous projection of 7% made by RBI Gov
Economic development is a multidimensional process that involves improving living standards, reducing poverty, and enhancing overall well-being through sustainable economic growth. Several factors contribute to economic development, including technological advancements, infrastructure investments, and human capital development. Let's examine each of these factors
Economic development is a multidimensional process that involves improving living standards, reducing poverty, and enhancing overall well-being through sustainable economic growth. Several factors contribute to economic development, including technological advancements, infrastructure investments, and human capital development. Let's examine each of these factors
Personal finance is an essential aspect of managing one's financial well-being and achieving financial goals. Let's cover key topics within personal finance, including budgeting, saving, investing, retirement planning, and managing personal debt:
Budgeting: Budgeting involves creating a f
Personal finance is an essential aspect of managing one's financial well-being and achieving financial goals. Let's cover key topics within personal finance, including budgeting, saving, investing, retirement planning, and managing personal debt:
Budgeting: Budgeting involves creating a f
Corporate finance encompasses a wide range of topics related to managing financial resources, making investment decisions, and optimizing capital structure for corporations. Let's delve into key areas within corporate finance, including capital structure, financial management, mergers and acquisitions (M&A), and corporate governance:
Corporate finance encompasses a wide range of topics related to managing financial resources, making investment decisions, and optimizing capital structure for corporations. Let's delve into key areas within corporate finance, including capital structure, financial management, mergers and acquisitions (M&A), and corporate governance:
International trade plays a significant role in the global economy, influencing economic growth, employment, and market dynamics. Let's explore key topics related to international trade, including trade agreements, tariffs, trade deficits, and their impact on domestic and global economies:
Trade Agr
International trade plays a significant role in the global economy, influencing economic growth, employment, and market dynamics. Let's explore key topics related to international trade, including trade agreements, tariffs, trade deficits, and their impact on domestic and global economies:
Trade Agr
Fiscal policy refers to the government's use of spending and taxation to influence the economy. It plays a crucial role in economic stability, growth, and distribution of resources. Here's a discussion on government spending, taxation, budget deficits, and their impact on economic stability:
Gov
Fiscal policy refers to the government's use of spending and taxation to influence the economy. It plays a crucial role in economic stability, growth, and distribution of resources. Here's a discussion on government spending, taxation, budget deficits, and their impact on economic stability:
Gov
Monetary policy is a crucial tool used by central banks to manage the money supply, influence interest rates, and steer economic growth. Central banks play a pivotal role in maintaining price stability, maximizing employment, and promoting sustainable economic development. Let's delve into the key aspects of monetary policy and its e
Monetary policy is a crucial tool used by central banks to manage the money supply, influence interest rates, and steer economic growth. Central banks play a pivotal role in maintaining price stability, maximizing employment, and promoting sustainable economic development. Let's delve into the key aspects of monetary policy and its e
Stocks: Stocks, also known as equities, represent ownership stakes in companies. When investors buy shares of stock, they become partial owners of the company and are entitled to a portion of its profits through dividends (if issued) and capital appreciation. Stocks are traded on stock exchanges, and their
Stocks: Stocks, also known as equities, represent ownership stakes in companies. When investors buy shares of stock, they become partial owners of the company and are entitled to a portion of its profits through dividends (if issued) and capital appreciation. Stocks are traded on stock exchanges, and their
Investment strategies play a crucial role in helping investors achieve their financial goals while managing risks effectively. Among the various investment strategies, three prominent approaches are value investing, growth investing, and diversification techniques. Let's analyze each strategy in detail.
Value Investing: Value investing is a strategy where investors seek to identify undervalued assets trading below the
Investment strategies play a crucial role in helping investors achieve their financial goals while managing risks effectively. Among the various investment strategies, three prominent approaches are value investing, growth investing, and diversification techniques. Let's analyze each strategy in detail.
Value Investing: Value investing is a strategy where investors seek to identify undervalued assets trading below the
Financial markets are dynamic ecosystems where various assets are traded, and prices are determined based on supply and demand dynamics. Among the key financial markets are stock markets, bond markets, and forex (foreign exchange) markets, each playing a vital role in the global economy. Let's delve into these markets and explore their significance.
Financial markets are dynamic ecosystems where various assets are traded, and prices are determined based on supply and demand dynamics. Among the key financial markets are stock markets, bond markets, and forex (foreign exchange) markets, each playing a vital role in the global economy. Let's delve into these markets and explore their significance.
Macroeconomic indicators are crucial metrics used to assess the overall health and performance of an economy. Among these indicators, GDP (Gross Domestic Product), inflation rates, and unemployment rates play significant roles in providing insights into the economic conditions of a country. Let's delve into each of these indicators and explore their impact on the economy.
Gross Domestic Product (GDP): GDP measures the
Macroeconomic indicators are crucial metrics used to assess the overall health and performance of an economy. Among these indicators, GDP (Gross Domestic Product), inflation rates, and unemployment rates play significant roles in providing insights into the economic conditions of a country. Let's delve into each of these indicators and explore their impact on the economy.
Gross Domestic Product (GDP): GDP measures the
