South Korean auto major Hyundai Motor Company has fully exited Ola Electric Mobility, selling its entire 2.47% stake for Rs 552 crore through an open market transaction on Tuesday.As per bulk deal data on the National Stock Exchange (NSE), Hyundai sold over 10.88 crore shares of Bengaluru-based Ola Electric at an average price of Rs…
HYDERABAD: California-based AI-powered SaaS solutions provider Evergent has opened its global value centre in Hyderabad.The company, which has already onboarded over 600 engineering and AI professionals in Hyderabad, plans to scale this up to over 1,000 employees by 2025 end.Inaugurating the new GVC, IT & industries minister Duddilla Sridhar Babu said Telangana is ready to…
Victoria’s Secret is postponing the release of its quarterly earnings after a security breach disrupted corporate operations and forced the popular lingerie brand to take its US shopping website offline for several days last week.In an update on Tuesday, the Ohio-based retailer said it first detected a “security incident involving its information technology systems” on…
Realty developer NeoLiv has sold all 263 residential plots in its debut project ‘NeoLiv Grand Park’ located in Kundli-Sonipat, Haryana, garnering over Rs 300 crore in sales.In a statement issued Tuesday, the Mumbai-based firm said the project, spread across 19.46 acres, witnessed demand nearly four times the available inventory, underscoring strong buyer interest, reported PTI.“The…
In order to expand operations and develop a local ecosystem for future manufacturing and supply chain activities in India, Tesla has taken an important step by leasing a new office space in Kurla West, central Mumbai. This move highlights the company’s growing commitment to the Indian market. This new location is Tesla’s fourth office in…
Moody’s Ratings on Tuesday said that India’s strong domestic economic environment will continue to support economic growth, helping banks maintain healthy asset quality and keeping systemwide nonperforming loan (NPL) levels between 2–3 per cent over the next 12 months.In a report focused on the Indian banking sector, Moody’s stated that even amid heightened global economic…
The rupee depreciated by 21 paise to close at 85.60 (provisional) against the US dollar on Tuesday, as a stronger greenback and persistent foreign fund outflows weighed on market sentiment.Forex traders said the domestic unit came under pressure due to negative trends in local equity markets and geopolitical uncertainties. Investors also remained cautious ahead of…
The working paper emphasises that India’s agricultural industry requires protective measures. (AI image) India-US trade deal: Following the US implementation of ‘reciprocal tariffs’, India ought to implement a two-pronged strategy, according to a NITI Aayog working paper. This involves reducing elevated tariffs on non-critical agricultural imports from the US, whilst tactically extending concessions in areas…
The Organisation for Economic Co-operation and Development (OECD) lowered its global economic growth forecast on Tuesday, citing the impact of a widening trade war driven by US President Donald Trump’s tariff policies. The Paris-based organization warned that these measures, particularly new tariffs, are set to significantly slow the world economy, with the United States expected…
NEW DELHI: An Indian-origin UC Berkeley graduate has sparked a debate about the startup funding ecosystem after claiming he received responses from 27 venture capitalists—four of whom asked for a meeting—by posing as a fake founder with no real product or pitch, but with the right mix of elite buzzwords.Bhavye Khetan, who earned a bachelor’s…
