City Sandeep Financial News

WeWork shares approached zero on Wednesday after the one-time startup darling warned it could go bankrupt in a stunning reversal of fortune for a company that was once privately valued at $47 billion. The SoftBank-backed company has been in turmoil ever since its plans to go public in 2019 imploded after investors recoiled at its hefty losses, corporate governance lapses and the management style of then founder-CEO Adam Neumann. WeWork's woes did not abate in subsequent years.

Once a successful American startup, WeWork is now struggling to keep the business going. The New York-based company is bleeding cash, and customers of its office rentals are canceling their memberships in droves, the company has claimed. The business of the co-working space firm is gradually crashing due to which the stock fell about 24% in extended trading on Tuesday.

(Reuters) -WeWork Inc on Tuesday raised «substantial» doubt about its ability to continue as a going concern and said three board members had stepped down, sending its shares down 27% in extended trading.

Delhi Ordinance Bill: On one hand, the Indian National Congress has made its stance clear on the Delhi Ordinance Bill, some party members have a different stance on the bill. Congress leader and former MP from Delhi, Sandeep Dikshit extended his support to the bill on Sunday. He also said that opposing the Central government's bill is wrong.

HDFC Bank's Managing Director and Chief Executive, has emerged as the highest-paid bank chief executive in FY23, with a significant increase of more than 62% in his remuneration in fiscal year 2023, reaching ₹10.55 crore, the PTI reported. Jagdishan's colleague Kaizad Bharucha, the deputy managing director of India’s largest private sector bank by assets and world's fourth largest bank by market capitalisation as of July 2023, drew ₹10.03 crore for the fiscal year and emerged as likely to be the second-highest grossing banker in the country, according to according to the bank's annual report for FY23.

Gujarat's influential BJP leader Pradipsinh Vaghela resigned from the general secretary post on Saturday. Vaghela was also in charge of the party's state headquarters, Shree Kamalam in Gandhinagar.

Arvind Kejriwal is well aware that if he does not get control of the vigilance department, he will be sent to jail for at least eight to ten years. (With inputs from agencies)

Quant Mutual Fund has earned a name for itself with its impressive performance in the last few years. However, most of its schemes have been underperforming for a while. ETMutualFunds reached out to Sandeep Tandon, CEO of Quant Mutual Fund, to find out what is happening and what is he doing about the situation. “We have been vocal about the fact that for us, investment is about primarily managing risks and returns are therefore a by-product,” says Tandon. “Our VLRT Framework and Predictive Analytics indicators are used to dynamically maximize the opportunities across the portfolios. As you are aware, we have demonstrated the same in the past and emerged as an outlier in most of the categories in which we operate.” Edited interview.Equity schemes of Quant Mutual Fund have been underperforming for a while. Most investors, who were used to the stupendous performance of these schemes in the last few years, are concerned. What’s happening? It is imperative to focus on long term wealth creation and not be distracted by intermittent blips of market volatility. At quant MF, active identification and participation in growth opportunities is done (through our Predictive Analytics toolkit) while exercising due caution (through our VLRT Risk Mitigation framework). This is the only recourse that can help build meaningful wealth and preserve it through the volatile years ahead.

Pradhan Mantri Awas Yojana by PCMC. According to a report by The Indian Express, as PM Modi is visiting the city today, certain schools have chosen to close for the day, while others have opted to conduct online classes.

₹13.34 billion. The company focused on increased volumes to drive growth as it expanded its portfolio in the premium auto-care range, Castrol said in a statement.

Team India (Senior Men) squad for T20I series against Ireland: Jasprit Bumrah (C), Ruturaj Gaikwad (VC), Yashasvi Jaiswal, Tilak Varma, Rinku Singh, Sanju Samson (wk), Jitesh Sharma (wk), Shivam Dube, Washington Sundar, Shahbaz Ahmed, Ravi Bishnoi, Prasidh Krishna, Arshdeep Singh, Mukesh Kumar, Avesh Khan. The 27-year-old Prasidh Krishna, who played 11 ODIs, last represented India in an ODI match against Zimbabwe in August 2022.

Arvind Kejriwal has misinterpreted the bill and he has also given the wrong interpretation to the INDIA alliance. So if they are insistent on opposing it what can I do?" “Opposition alliance should bring a bill to Parliament to provide Delhi the status of a state if they want the national capital to have the powers," said Sandeep Dikshit “If you really want to give Delhi powers then make it a full state, why doesn’t the alliance bring that bill to the house? The Union Territory has only these many powers, according to the Constitution.

icai.org. Currently, there is no official confirmation from the institute, however, some media reports state that the date and time of CA foundation results will likely be declared today. The ICAI June session exams were held on 24, 26, 28 and 30 June 2023 in 290 centres across India.

assembly elections in Arunachal Pradesh next year, said party national secretary (organisation) Dr Sandeep Pathak in New Delhi on Sunday. Chairing a meeting of AAP's Arunachal Pradesh unit, Pathak suggested strengthening the party organisation and connecting with the masses.

GAIL is planning to tie up 7-8 million tonnes per annum of long-term liquefied natural gas (LNG) from diverse sources as it bets big on domestic gas demand and aims to play a leading role in India’s transformation into a gas-based economy, its chairman has said. “GAIL is committed to ensuring that the domestic demand is well supplied and protected from price shocks. To do the same, GAIL is looking to grow its long-term volumes by at least 50% or 7-8 million metric tonnes per annum in a staggered manner till 2030,” GAIL chairman and managing director Sandeep Kumar Gupta told ET in an interview. The company is in talks with suppliers in several countries including the US, Qatar, the UAE, and other countries east of India, he added. Gupta, the former finance chief of Indian Oil Corp, took over as the chairman and managing director of GAIL last October in the middle of a global energy crisis that had cut off afifth of its LNG supplies after a former German unit of Russia’s Gazprom stopped supplying. “We managed well. The supply cut to our customers was much smaller as we brought in our US volumes to meet their demand,” said Gupta. After the global markets cooled off this year, the supplies resumed but GAIL has learnt its lessons.

₹3,437 crore for the three months ended June, owing to higher net interest income. Net interest income (NII) rose 26% to ₹8,398 crore in the June quarter, from ₹6,640 crore a year earlier. Bajaj Finance said it recorded highest-ever quarterly growth in assets under management of ₹ 22,718 crore last quarter and expects AUM growth to be 29-31% in FY24.

By Granth Vanaik

Bank's net profit rose 40% year on year due to a strong rise in interest income and helped by higher treasury gains. Net profit increased to Rs 9,648 crore in the quarter ended June 2023 from Rs 6,905 crore a year ago and was higher than ET Now's estimate of Rs 9300 crore. Domestic advances grew 18% led by a 29% growth in loans to small and medium enterprises (SMEs) and a 22% growth in the retail loan book.

GAIL, the nation’s top natural gas transporter, has tied up with LanzaTech of the US to explore setting up a pilot-scale carbon capture and conversion project, the companies said in a statement on Tuesday. «The possibilities coming out of this collaboration with LanzaTech are very promising and significant to improving our carbon footprint,” said Sandeep Kumar Gupta, Chairman and Managing Director of GAIL.

  New Delhi: GAIL (India) Ltd, the country’s largest gas distributor, and LanzaTech Global, an innovative carbon capture and utilization company that converts waste carbon into products that people use in their daily lives, have entered a partnership to explore innovative technology solutions that advance GAIL’s net zero 2040 goals and have the potential to support wider decarbonization applications globally. The partnership between GAIL and LanzaTech will focus on the development of a pilot-scale CO2 capture and conversion project.

Hindustan Times informed in an exclusive report that the scuffle erupted over the basic rules onboard aircraft and the aviation regulator Directorate General of Civil Aviation (DGCA) was informed about the incident. “The airline’s head of the inflight services department, Sandeep Verma, who was flying from Sydney to Delhi on AI 301 was hit by a Delhi-based passenger. However, no action was taken against him," an official close to the matter told HT.