In this issue

May 19, 2022

Ruchi Soya buys Patanjali's food business for ₹690 crore

To pay 1% of turnover of products as annual royalty under transfer agreement

2 mins

'Truly sorry' says Vedantu, as it fires 424 employees

Citing headwinds, CEO Krishna says capital will be scarce in upcoming quarters

2 mins

5G Roll-Out Will Be Limited In Near Term, Says Airtel Chief

Telco may hike tariff this year to push ARPU towards ₹200

1 min

PhonePe Set To Acquire OpenQ, WealthDesk For About $70 mn

As it looks to scale up its financial and wealth management services, Walmart-owned digital payments firm PhonePe is set to acquire wealth management firms WealthDesk for about $50 million and OpenQ for around $20 million, according to people familiar with the matter.

1 min

MPC members argued for front-loading rate hikes

External member Jayanth Varma said 100 bps rate hike required 'very soon'

2 mins

GoM calls for 28% GST on online gaming, casinos

Tax may be levied on face value or bet amount and not on transaction value

3 mins

ITC profit rises 11.6% in Q4

The company's consolidated revenue was ₹17,754.02 crore, up 15.25 per cent from ₹15,404.37 crore in the year-ago period

2 mins

Will Enforce Musk Merger Agreement: Twitter Board

Twitter's board said it plans to enforce its $44 billion agreement to be bought by Elon Musk, saying the transaction is in the best interest of all shareholders.

2 mins

Box office hits record ₹1,500 cr in March

April expected to be just as good, and FY23 collections likely to be the best ever at ₹ 15,500 crore

3 mins

Second-worst among 11 global firms that raised over $1 billion in 2022

LIC LISTING-DAY SHOW

1 min

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