Explained: The tumbling of Meta platforms’ shares

What was the trigger for the sheer drop in shares? Is the Metaverse not profitable? The story so far: The shares of Meta Platforms, the parent company of social media giant Facebook, crashed by as much as 25% on Thursday, wiping out over $200 billion from the company’s market value. The crash came after Meta on Wednesday announced its earnings […]

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Ola Electric raises $200 million in funding at a valuation of $5 billion

Over the last 12 months, Ola Electric has built its ‘Futurefactory’, which it claims is the world’s largest two-wheeler manufacturing facility, and launched its electric scooter Ola S1 Ola Electric on Monday said it has raised over $200 million (about ₹1,490.5 crore) from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others, valuing the electric vehicle maker at $5 billion. […]

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FADA urges GST cut for two-wheelers, used cars

‘A two-wheeler is not a luxury item’ The Federation of Automobile Dealers Association (FADA) has sought a reduction in GST for two-wheelers and used cars to 18% and 5%, respectively to help spur demand. “FADA requests the Ministry to regulate and reduce GST rates on two wheelers to 18%… two-wheeler is used not as a luxury but as a necessity […]

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Foxconn India's Sriperumbudur plant to reopen on January 12

The plant was closed in December following protests over its workers being treated for food poisoning Apple Inc supplier Foxconn will reopen its shuttered iPhone manufacturing facility in Tamil Nadu on January 12, government officials and a legislator in the region where the plant is located told Reuters. Foxconn Technology Group said it has implemented a range of corrective actions […]

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Ask us: On investments

Another option is an LIC pension scheme for senior citizens called Pradhan Mantri Vaya Vandana Yojana. Q.It had been reported that accrual of interest in EPF accounts in excess of ₹2.50 lakh during FY22 is taxable income. Kindly clarify the following: a) Is accrued interest in excess of ₹2.50 lakh taxable income in respect of GPF account holders, also considering […]

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Passenger vehicle retail sales dip 11 % in Dec amid semiconductor woes

Two-wheeler sales also continued to remain in the slow lane last month. Passenger vehicle retail sales in India witnessed an 11 % year-on-year decline in December as semiconductor shortage continued to impact the segment, automobile dealers’ body FADA said on Wednesday. The passenger vehicle (PV) retail sales last month fell 10.91 % to 2,44,639 units from 2,74,605 units in December […]

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Tech Mahindra to acquire 100% stake in Allyis India, Green Investments

Tech Mahindra would pay total consideration of up to $125 million, including employment-related and performance-related earnouts Tech Mahindra on December 31 said it has approved a proposal for the acquisition of a 100% stake in Allyis India and Green Investments, for a total consideration of up to $125 million. The acquisition is expected to bolster Tech Mahindra’s capabilities in digital […]

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