Bullets

FM Nirmala Sitharaman began presenting the Interim Budget 2024-25 with the introduction of the "Amrit Kaal" strategy. Along with describing the performance of the multiple yojanas (schemes), FM represented the plans for the nation to become a "Developed India" by 2047. 

PM SVANidhi, PM Vishwakarma, PM Fasal Bima, Ayushman Bharat, etc., were some of the schemes mentioned by Sitharaman, along with their successful performances in the past year. 

Will any further changes be introduced in the above-mentioned schemes? Stay tuned for upcoming updates!

The nation awaits as Finance Minister Niramala Sitharaman reaches the North Block. The interim budget will be announced at 11:00 am in Parliament.

FM first followed the tradition of paying President Droupadi Murmu a visit at Rashtrapati Bhavan before travelling to Parliament to present the budget.

In about 1 hour, the budget will be reported, which would be a "vote-on-account" keeping the upcoming elections in mind. To know what sectors could be affected, click on this article link.

We are just 24 hours away from the announcement of Budget 2024-25 by Finance Minister Nirmala Sitharaman. That means you are only 24 hours away from getting all your doubts cleared up in the simplest manner possible.

The pathway to your answers is pretty simple. Just go to the X app and drop a post with the hashtag #AskFinology. And Insider will answer your queries in the "Bullets" section (right here).

So, be prepared with your questionnaire as we are ready with our best experts on everything Budget. 🤗

Are you excited about the upcoming budget? We are, too!

For all your queries regarding the to-be-announced tax changes or deductions updates, reach out to us with #AskFinology.

Following our yearly tradition, Finology will decode the Interim Budget 2024 in the simplest way imaginable. So, start shooting your queries right now.

And, make sure to tune in to Bullets by Insider on 1 February starting from 11 am sharp. 😃

The Indian stock market became the 4th largest in the world with a valuation of $4.33 trillion, around 359.39 lakh crore. India replaced Hong Kong’s $4.29 trillion market and is now trailing behind Japan in the list.

In December 2023, the Indian stock market touched the dreamy $4 trillion mark for the first time ever.

This achievement sets the nation close to being an alternative to China, as many nations find India to be.

As per unnamed sources, Sony Group Corporation sent the termination notice to Zee Entertainment’s office after the passing of the 21 January deadline yesterday.

Sony doesn’t seem to be in the mood to extend the negotiations, ending the $10 billion (around ₹83,000 crore) merger.

ZEEL’s collapsing financial health and Punit Goenka regulatory issues didn’t allow the formation of what could have been the largest entertainment firm in the world. 

Catch the complete story of how and why it happened by clicking here.

Google India reported a 12.49% Y-O-Y hike in gross ad revenue from ₹24,926 crore in FY22 to ₹28,040 crore in FY23.

The source for the hike comes from Google Search, YouTube, and Chrome, making Google the dominant one in the advertising market.

Despite many lawsuits for monopoly allegations, the might of Google doesn’t seem to be lessening anytime soon.

Suffering airline company GoFirst is on the brink of non-existence as it is looking for fresh bidders to take over. In an optimistic turn of events, creditors gave a green signal for new bids from prospective buyers, aka Resolution Applicants (RAs).

After receiving no bids for managing the reins of the drowning airline in the November bid, five entities have finally showcased interests. Sky One, SpiceJet, and Safrik Investments are some of them.

How will GoFirst's future unfold?

Click on this link to learn how the insolvency came to be for the airline company.

It’s been a year of grand change so far, with Adani replacing Ambani as the richest in India. Now, Microsoft Corporation overtakes Apple to be the company with the highest market capitalisation in the world.

At $2.785 trillion, Microsoft leaves Apple behind as the most valuable. Apple's market cap saw a 0.9% decline to $2.871 trillion.

Microsoft has replaced Apple for the first time ever since 2021. Strong possibilities with AI generative development made this possible.

It’s only been 10 days in the new year, and traits from 2023, like laying off a large number of employees, are back. Alphabet Inc’s Google begins the series by letting hundreds of employees work on Google Assistant and hardware & engineering teams.

The tech giant’s spokesperson stated the change to make the company more efficient and align resources in the right direction.

Needless to say, employees were not happy and strongly criticised the job cuts by Google.

The most anticipated merger for the past 3 years is now on the verge of collapsing. Sony Group Corp is considering calling off the $10 billion (around ₹83,000 crore) merger due to the continuous delay.

This news led to Zee’s shares downfall, seeing a 10% low on BSE. The regulatory issues surrounding the lead man, Punit Goenka, are the major reason Sony plans to withdraw.

Will the notice of merger termination reach Zee’s office, or is there a twist in the story?

Read about how the merger unfolded and its breakdown possibilities by clicking on this link.

A portfolio of ₹4,200 crore of Non-Performing Assets (NPA) from Yes Bank now has 8 top bidders, including names like JC Flowers ARC, Acre, Edelweiss, etc.

The portfolio includes 8 bad-turned accounts like Promethean Enterprises with a debt of ₹1,496 crore, Katerra India with a debt of ₹521 crore and more. Along with this, Yes Bank’s only cash-bid sale included a retail portfolio of ₹1,142 crore.

This reduced Yes Bank's net NPA ratio to 0.9%.

With a surprising turn of events, Gautam Adani beats Mukesh Ambani for the title of the “richest person in India”. His global ranking also saw a jump to the 12th position with Ambani trailing in 13th.

This surpassing can be attributed to SC’s rejection to forward Adani-Hindenburg case to CBI, boosting investors’ confidence in the Adani Group.

The yearly wrap-up for Gautam Adani would be filled with awestrucking ups and downs and a celebratory end. 🎊

Interested in knowing who the other richest personalities are? Click here for a detailed description.

Revealed in January 2023, the Hindenburg Report’s allegation of the Adani Group shook the industry. After one year, the Supreme Court probes SEBI to finish the case within the next 3 months.

SC also rejects the appeal to transfer the case of CBI, stating no grounds present to do so. Currently, SEBI has completed investigations in 20 out of 22 related matters.

Interestingly, SC refused to consider the OCCRP Report, making matters difficult for SEBI.

Read the OCCRP Report on Adani Group and why it is essential in the Adani-Hindenburg case from here.

Walmart-backed e-commerce platform Flipkart is raising $1 billion (around ₹8300 crore) to expand and strengthen the business.

Walmart will be investing $600 million, and the remaining $400 million will be pooled by internal shareholders and external investors.

This funding will increase Flipkart’s valuation by 5-10% from its previous $35 billion. This is not a pre-IPO round, which will be conducted sometime next year.

Meanwhile, read: Why were Investors wary of Flipkart, and what has changed since then?

PepsiCo’s franchise bottler, Varun Beverages, is planning a South Africa invasion with the acquisition of Bevco. A South African beverage company, BevCo, and its wholly-owned subsidiaries are close to being acquired at a ₹1,320 crore deal.

At present, BevCo has franchisee rights from PepsiCo’s and bottles & sells brands like Pepsi, 7UP, Mirinda and Mountain Dew in South Africa. 

This deal is stated at an enterprise value and will mark Varun Beverages' expansion into a new territory.

Read about Varun Beverages' business model and other aspects by clicking here.

Zee-Sony merger has been on the waiting list for over a couple of years. After large investors voted against the resolution, Zee asked Sony Networks India for a deadline extension for the $10 billion (around ₹83,000 crore) deal.  

Occurrences like the rejection of the reappointment of 2 directors and the withdrawal of the 3rd candidate are causing unrest on the board.

Officially, Zee didn’t offer any reason behind the request for the deal extension from earlier stated 21 December.

Read about the whole story of the Zee-Sony merger here.

Standing on the edge of a precipice, Go First might be acquired as SpiceJet, Sharjah’s Sky One, and Africa’s Safrik Investments show interest.

A thing to remember here is the deadline to make acquisition proposals has already passed weeks ago. Now, the creditors’ committee will decide whether an extension could be granted or not.

In case of no extension, Go First will face liquidation and cease to exist for good. What do you think would happen?

Read the whole story of how Go First Airline Insolvency came to be by clicking here.

Electric scooter maker Ather Energy saw a rise in stake from its largest investor as Hero MotoCorp purchased shares worth ₹140 crore. This transaction brought Hero MotoCorp’s shares from 36.7% to 39.7%.

Interestingly, Ather Energy received fresh funding from its largest investor and GIC worth ₹900 crore in September. 

This funding feels like an announcement of the EV industry revving up its engine. 🚗

Global Partnership on Artificial Intelligence (GPAI) witnessed the acceptance of the New Delhi Resolution to enhance AI collaboratively.

MeitY minister Rajeev Chandrasekhar throws light on the matter by stating GPAI is the front and centre of AI innovation & development in the member nations. Healthcare, agriculture, and other sector applications would be prioritised. 

Meanwhile, read how MeitY works to provide safe grounds to digital users with the Digital India Act.