Awards Financial News

Freshworks founder Girish Mathrubootham sold shares in the software-as-a-service (SaaS) company amounting to nearly $40 million, filings made with the US Securities and Exchange Commission (SEC) showed. Mathrubootham, who stepped down as the chief executive officer (CEO) of Freshworks, sold a total of 2.5 million shares in two tranches on December 18 and 19, the filings showed. Prior to this, he owned around 5% stake in the company. Mathrubootham is currently the chairman of the board of directors at Freshworks and was replaced by Dennis Woodside for the CEO position.

inflation despite expectations of it softening ahead. «Going forward, food inflation is likely to soften in Q4 with seasonal easing of vegetables prices and kharif harvest arrivals; and good soil moisture conditions along with comfortable reservoir levels auguring well for rabi production.

non-tariff barriers being faced by its domestic industry in the European Union (EU) and emphasised the need to address long pending issues as a confidence building measure under the bilateral free trade agreement (FTA) talks, the government said Friday. The issue were discussed during a meeting between commerce and industry minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic last night virtually. “Goyal underlined that non-tariff barriers were impeding trade and emphasized the need to address long pending issues as a confidence building measure. Both sides agreed to explore a balanced, equitable, ambitious and mutually beneficial FTA,” the commerce and industry ministry said in a statement.

alimony case, domestic violence and divorce petition, all of them. The wife even filed an FIR against his 85-year-old father, his son from first marriage, his aunt's son, his relatives and his ex-wife who lives in the USA. There was also a twist in this case as the lawyer representing the wife said she wanted to get back with him. However, the husband declined this offer and sought divorce on the ground of cruelty. Moreover, the husband filed a police complaint against his wife claiming that she threatened him with dire consequences like taking her own life and filing false criminal cases against him and his family. The primary reason behind the long police, family court, supreme court proceedings was demand for more alimony by wife after taking Rs 12 lakh from her husband during the course of their married life. This was despite his wife having Rs 1.05 crore worth of bank FDs, cash, etc. His wife argued that he had both the means and ability to provide more alimony. She also claimed that her husband had Rs 5,000 crore worth of assets, a USA based business and multiple house properties in Pune, Bhopal and in other cities. While the husband was ready to offer Rs 20 to 40 lakh as permanent alimony, his wife demanded at least Rs 500 crore and one of the properties owned by the husband's 85-year-old father.

Sattva Group has acquired an 8.5-acre land parcel in Bengaluru’s Export Promotion Industrial Park (EPIP) from a high-net-worth individual for approximately Rs 300 crore. The property, which previously housed the operations of global healthcare major Novo Nordisk India, has been a landmark in the area for over a decade. Novo Nordisk had operated from the campus for over 10 years before transitioning out. The campus has a fully functional operational unit with a built-up area of 188,000 square feet and offers future development potential of up to 1.2 million square feet, along with a data centre of 35 MW. Strategically located in one of Bengaluru’s prominent industrial and business hubs, the acquisition is set to strengthen Sattva Group’s presence in the city’s booming commercial real estate market.

Reserve Bank of India (RBI) on Friday reviewed the global and domestic economic situation and outlook at a meeting chaired by new Governor Sanjay Malhotra. The 612th meeting of the Central Board of Directors of the RBI also placed on record its appreciation of the valuable services rendered by Shaktikanta Das during his tenure as the governor of the central bank. Das demitted officer earlier this month after completing an extended six-year tenure. «The Board reviewed the global and domestic economic situation and outlook, and discussed the activities of select central office departments as well as the draft report on Trend and Progress of Banking in India, 2023-24,» the RBI said in a statement.

Bharat Petroleum Corp Ltd has bought its first crude oil cargo from Argentina, two trade sources said on Friday, part of the company's effort to diversify the grades processed at its refineries. The state-run refiner has purchased the 1-million-barrel cargo of Medanito crude for February delivery from European trader Mercuria, the sources said. The light-sweet grade is of a similar quality to U.S. West Texas Intermediate crude, they added.

Gold demand in India remained subdued this week as volatile prices prompted potential buyers to delay purchases, while higher rates across China are expected to potentially offset upcoming seasonal demand. After gold prices became highly volatile over the past two weeks, buyers are now adopting a wait-and-see approach, hoping for prices to decline further, said a Chennai-based jeweller. In India, domestic prices fell to Rs 75,459 ($887.28) per 10 grams earlier this week after rising to Rs 79,120 last week.

Swan Energy has signed a preliminary agreement with Singapore’s AG&P Terminals & Logistics to form a joint venture for supplying liquefied natural gas in India and other countries, the company said in a regulatory filing on Friday. Swan Energy will hold a 51% stake in the JV and AG&P LNG the remaining. AG&P LNG will also collaborate on Swan Energy’s LNG regasification terminal and will also have an option to take equity stake, the companies said. The companies will also form another JV for a floating storage and regasification unit (FSRU) and a floating storage unit to operate Swan Energy’s LNG terminal. AG&P LNG will hold 51% stake in this JV with Swan holding the rest.

Bajaj Auto today released new 35 versions of its Chetak electric scooter. Under 3500 series, Bajaj has announced Chetak 3501, 3502, and 2903 models. The scooter has a new platform, more features, and a new design. The Chetak's classic look will remain, but the new version have more storage space. Bajaj is offer different versions of the new Chetak, from basic to premium models. The new Bajaj Chetak 3501 and 3502 have same 3.5 kwH battery offering 153 km range and top speed of 73 kmph.

Micro and Small Enterprises (CGTMSE) marked a significant milestone by hosting a felicitation of MLIs and MSE Beneficiaries on approving 1 crore guarantees. The event was held at SIDBI Swavalamban Bhavan in the presence of Manoj Mittal, Chairman & Managing Director, SIDBI & Chairman of CGTMSE, Sudatta Mandal, DMD, SIDBI, Manish Sinha, CEO CGTMSE along with guests from State Bank of India, HDFC Bank and Union Bank. The occasion celebrated the achievements of CGTMSE’s commitment to fostering financial inclusion and empowering small businesses. The occasion was graced by the Chairman who felicitated the three Micro and Small Enterprises (MSE) borrowers — Gauri Deepak Samudre proprietor of UNIQUE DIGITAL PRINTING, Meet Yogesh Sanghvi, promoter of KEMKO TITANIUM PRIVATE LIMITED and MVGS Anil Kumar, CFO of HIGHNESS MICROELECTRONICS PVT LTD. These borrowers were supported by three leading Member Lending Institutions (MLIs) — Union Bank, State Bank of India and HDFC Bank respectively, whose contributions were instrumental in making this accomplishment possible. Speaking at the event, Mittal emphasized the transformative impact of credit guarantees on the MSE ecosystem, enabling businesses to access funding without collateral, third party guarantee and achieve sustainable growth. Anindya Sunder Paul, CGM, State Bank of India, Sanjay D'Souza, Group Head, HDFC Bank and G K Sudhakar, Rao, GM MSME, Union Bank also shared insights on strengthening the MSE sector and nurturing entrepreneurship through collaborative efforts.

NARCL) for the debt-laden Jaiprakash Associates Ltd (JAL) has triggered a Swiss Challenge auction, with close to a dozen entities showing interest in acquiring the Noida-based conglomerate on an all-cash basis. Distressed aggregators such as the Kotak Mahindra Group-backed Phoenix ARC, US-based Ares Management Corp-backed Acre ARC (asset reconstruction company), Avenue Capital’s Arcil ARC and CFM ARC have expressed initial interest in submitting a bid, said senior executives of these entities. NBFC Capri Global and US-based alternative investment fund Cerberus Capital have also expressed interest, people familiar with the matter said. ET could not ascertain the names of all entities interested in the asset.

Supreme Court on December 20 set aside the National Consumer Disputes Redressal Commission (NCDRC)’s earlier judgment that capped the interest charged by banks on late credit card bill paymets at 30 per cent. The national consumer court had in 2010 restrained banks from charging interest rates in excess of 30% per annum from the credit card holders for their failure to make full payments on due date. The NCDRC judgment had held that if banks charge rate of interest over 30% towards credit card dues, that would amount to unfair trade practice.

Winter vacation dates, however, remain subject to extension depending on the severity of the cold wave. Here's a detailed breakdown of winter break announcements across states:

Bill Gates’ Breakthrough Energy Catalyst is awarding US$40 million to Montreal-based Deep Sky to help it test its carbon removal technology in Alberta.

One97 Communications Limited (OCL), which owns Paytm. The company said these trends showcase how Paytm users travelled through the year. Throughout the year, Mumbai and Dubai emerged as the most-searched destinations, reflecting a shared love for bustling city life and luxurious escapes. A passion for affordable travel was evident among younger generations, as 36% of bus bookings came from travellers under 25.

Poonawalla Fincorp is implementing Artificial Intelligence (AI) in human resource (HR) processes, including managing potential risks and ensuring accuracy in AI-driven hiring. The company, which saw a top management rejig earlier this year including appointment of new MD and CEO Arvind Kapil who took charge in June, has undertaken an AI led transformation of talent acquisition. “AI is a critical development and one of the big bets for a managing director,” said Kapil. “We thought the first project that we would implement should be in the realm of HR.” “We will slowly step by step work towards different departments. For example, customer service business departments, compliance, credit and others,” he said. The company has also partnered with IIT Bombay for AI implementation.

Tata Consumer Products Ltd (TCPL) on Thursday denied reports on the exit of cafe chain Starbucks from the Indian market, terming them as «baseless». Tata in a 50:50 joint venture with US-based Starbucks Corporation operates a cafe chain in India under the brand name of Starbucks, which is the leading cafe chain in India. Starbucks had 457 stores across 70 cities at September-end and the company aims to take it to 1,000 by FY28. The company's revenue from operations was up 12 per cent to Rs 1,218.06 crore in FY24.

NTPC has plans to set up a nuclear project in Bihar, a move which will increase its non fossil energy portfolio, the company's Chairman and Managing Director (CMD) Gurdeep Singh said on Thursday. NTPC has also requested the state government for a land parcel at a suitable location to take forward its nuclear plans, he said addressing a session at the 'Bihar Business Connect 2024' summit here. «Looking at the future of the energy sector, nuclear (energy) is expected to become extremely important for the energy sector, 20-30 years down the line. I want to share that NTPC is now entering the nuclear energy space,» Singh said. Without sharing any further details, he said NTPC will conduct a study before taking ahead the plans to set up the nuclear project in the state.

Subscribe to enjoy similar stories. When businessman Mukesh Garg’s two insurance claims were rejected, he represented himself before the insurance ombudsman, a statutory body that helps in out-of-court settlement of insurance cases, but sought help from a third party for the required paperwork. This, however, was a mistake.

This growth is driven by the inauguration of the Gurugram stretch in March 2024 and the near completion of the Delhi stretch, fuelling residential activity. The total annual residential new supply in Dwarka Expressway has surpassed the 10,000-unit threshold since 2020, compared to 5,000–7,000 new units launched per year in the pre-pandemic period.