Nate Anderson, the founder of Hindenburg Research, has announced the closure of his renowned short-selling and investigative firm. Known for its fearless reports exposing corporate fraud and malfeasance, the firm’s work has left a significant impact on the financial world. Anderson described the decision as a natural conclusion to this chapter of his life, with no external pressures influencing the move.  

Bitcoin saw a strong rebound on Wednesday, reaching $98,800, up by 2% after the US Labour Department released the Consumer Price Index (CPI) data for December. The CPI showed a 2.9% increase, which was in line with expectations. The Core CPI, excluding volatile items like food and energy, came in slightly under expectations at 3.2%. This data eased fears of severe inflation, bolstering investor confidence and supporting the bullish outlook for Bitcoin. Crypto prices, including Ether

Rail Vikas Nigam Ltd (RVNL) has secured a significant contract worth Rs 3,622 crore from Bharat Sanchar Nigam Ltd (BSNL) for the development of Bharat Net's middle-mile network. The contract, awarded on a design, build, operate, and maintain model, involves the creation, upgradation, and operation and maintenance of the network. The project is set to be completed within three years, with a maintenance period of 10 years. The contract also includes an annual maintenance cost based on a per

Torrent Pharmaceuticals Ltd. will hold a meeting on January 24 to consider the payment of an interim dividend for the financial year 2024-25. The company has set February 1 as the record date for determining the eligible members for the dividend payment, if declared. The interim dividend will be for the equity shares of Rs 5 each. Earlier, Samir Mehta, President of the Indian Pharmaceutical Alliance and Chairperson of Torrent Group, highlighted the industry's plans to grow signi

Diageo India, the owner of popular brands like Johnnie Walker and Smirnoff, has appointed Praveen Someshwar as CEO-Designate, succeeding Hina Nagarajan, who has led the company for the last four years. Someshwar, currently the CEO and Managing Director of HT Media, brings extensive leadership experience, having worked with PepsiCo for 24 years across various roles in general management, finance, and strategy. Hina Nagarajan, the first woman to lead Diageo India, played a pivotal rol

DCM Shriram Ltd. has scheduled a Board of Directors meeting on January 18, 2025, to discuss various financial matters, including the potential payment of a second interim dividend for the fiscal year 2024-25. The company will also review its unaudited financial results for both its standalone and consolidated entities for the quarter and nine months ending December 31, 2024. The record date for the second interim dividend, if approved, will be January 24, 2025, with payment expected

Jefferies predicts that 2025 will be a year of reckoning for Contract Development and Manufacturing Organization (CDMO) stocks, where actual earnings performance will determine the sector’s winners and laggards. While CDMO stocks saw remarkable returns in 2024, ranging from 20% to 80%, the brokerage points out that earnings were mixed, with some companies seeing upgrades, while others experienced sharp downgrades. Despite this, investor confidence remains strong, driven by long-term opt

Shares of prominent gaming companies, including Delta Corp. and OnMobile Global Ltd., surged on Friday after the Supreme Court of India granted a stay on the proceedings regarding show cause notices (SCNs) issued by the tax department. These notices were linked to the proposed imposition of a 28% Goods and Services Tax (GST) on online gaming companies, which had caused significant concern within the industry. Abhishek A Rastogi, the founder of Rastogi Chambers, representing the gaming compani

The week witnessed crucial political and economic developments that influenced market movements across the world. In India, Tata Consultancy Services (TCS) announced its third-quarter earnings, with a net profit rise of 4.1%, while the Union government predicted India's economy would grow at its slowest pace in four years, with a projected GDP growth rate of 6.4% for fiscal year 2024-25. Meanwhile, India's merchandise trade deficit remained elevated despite a reduction in go

Gold prices saw an increase of Rs 250, reaching Rs 80,550 per 10 grams in the national capital on Friday. This rise in prices was driven by continuous demand from retailers and stockists, as well as the weakening of the Indian rupee, which hit a record low. The previous day, gold had been priced at Rs 80,300 per 10 grams, according to the All-India Sarafa Association. Silver prices, however, remained unchanged at Rs 93,000 per kg. Gold of 99.5% purity continued its upward trajectory

The International Monetary Fund (IMF) has advised Kenya to prioritize developing a predictable and robust regulatory framework for its cryptocurrency sector. In response to requests from Kenya's Capital Markets Authority (CMA) for input on future crypto regulations, the IMF conducted a detailed review of Kenya's crypto landscape. A 43-page Technical Assistance Report released on January 8 outlines the key steps needed to enhance regulation, ensuring the safety of participants and comp

A Kerala-based startup, in collaboration with the Kerala Irrigation Infrastructure Development Corporation Ltd. (KIIDC), is preparing to launch India's first eco-friendly, organic water bottles. Known as 'compostable bottles,' these bottles are designed to replace plastic bottles and are part of an innovative initiative aimed at promoting sustainability. The new product, branded as 'Hilly Aqua,' will be launched by Kerala Chief Minister Pinarayi Vijayan in mid-Ja

The gems and jewellery industry has made a strong plea to the government to reduce the Goods and Services Tax (GST) from 3% to 1% in the upcoming Budget. According to the All India Gem and Jewellery Domestic Council (GJC), this move would reduce the industry's growing cost burden, especially amid rising gold prices, and improve affordability for consumers, particularly in rural areas. Rajesh Rokde, Chairman of GJC, emphasized that such a reduction would also promote better tax compliance

Goldman Sachs has set a target price of Rs 500 per share for ITC Ltd. following the company's recent demerger, citing strong potential for profitability growth and the expansion of its consumer business. The brokerage firm highlighted a steady recovery in the cigarette business, predicting healthy earnings growth from fiscal 2023-25. The target represents an upside of 13% from the stock's previous close. ITC shares saw a nearly 6% adjustment in a special pre-open session on

On Tuesday, both the S&P 500 and Dow Jones Industrial Average saw slight increases, as traders prepared for the upcoming release of US jobs data. The S&P 500 rose by over 0.39%, while the Nasdaq Composite and Dow Jones gained 0.26% and 0.38%, respectively. Nvidia, Walt Disney, Boeing, Nike, and Coca-Cola were some of the key gainers, with Nvidia's stock rising 1.5%. However, companies like Amazon, Goldman Sachs, and Salesforce faced declines after a Monday rally. The market will c

On January 3, 2025, the cryptocurrency market continued its positive momentum, reflecting profits for the third consecutive day. Bitcoin (BTC) witnessed a 1.82% increase in its price on international exchanges, reaching $96,863 (around Rs. 83.05 lakh). On Indian exchanges, Bitcoin saw a slightly higher price of $97,042 (roughly Rs. 83.2 lakh), marking a 2.28% price surge. Investor sentiment around Bitcoin remains optimistic, with the Fear-Greed Index indicating a rise in market conf

This New Year’s Eve marked a remarkable recovery for the restaurant industry, with occupancy rates 15-30% higher than last year, defying concerns of low consumer spending amidst persistent inflation. Many dining spots reported record-breaking sales and packed houses, especially on December 31. Zorawar Kalra, founder of Massive Restaurants Pvt., mentioned that several of their chains achieved "all-time high" sales. Rajit Shetty from the Ramee Group of Hotels also note

India's government is investigating rising steel imports, particularly in two categories of flat-rolled steel products (HS 7208 and 7210), which account for over 75% of the surge in imports. Instead of implementing global safeguards, experts suggest that India should focus on Free Trade Agreement (FTA)-specific safeguards and measures targeting China. Many imports come duty-free under FTAs with coun

Adani Enterprises is set to exit its joint venture with Adani Wilmar, selling its 44% stake to Wilmar International. This move is expected to raise over $2 billion for Adani Enterprises, which will be used to boost investments in its core infrastructure platforms, including energy, utilities, transport, and logistics.   The transaction involves two steps: Adani Enterprises will sell 13% of Adan