Bullets

The slowdown in e-commerce left logistics company Delhivery with consecutive losses in its quarterly revenue. After an 8.5% loss in Q3, the March quarter also saw a 10% decline.

Despite negative results, Delhivery is planning to invest in the SaaS platform Vinculum Solutions. Delhivery is set to buy 10.94% Vinculum stakes at ₹72.54 per share.

Will this initiative to boost the D2C approach increase Delhivery’s next quarterly results? Only the future would tell!

SBI declared its Q4 result yesterday, and it's looking good! Beating estimates from various brokerages, the largest bank in India declared a PAT of ₹16,694.51 crore for the March quarter, growing by a whopping 83.18% compared to last year's ₹9,113.53 crore for the same period. The bank's NII also increased from ₹31,197 crore to ₹40,392.50 crore, rising by 29.5%.

SBI is no hoarder either, as it has declared a 1,130% dividend at ₹11.30 per share!🤑

🎵 Uh-oh brace yourselves for the government’s latest single hit! 

Starting July 1, all your international credit card payments are getting a 20% tax twist. The TCS rate was cranked up from 5% to 20% in this year's union budget. 

The government has put them under the Liberalised Remittance Scheme, burdening banks and travelers with higher costs, remittance limits, and refund complexities.

So, whether you're swiping in Santorini or tapping in Tokyo, be prepared to sing the tax blues!

Fast fashion brand Shein is planning to re-enter India. Reliance Retail is partnering with Shein, which was banned in 2020 due to the India-China border situation.

After being shunned by the US for using Xinjiang cotton from China, Shein is facing difficulties in sourcing. By collaborating with Reliance, Shein will get one of its fabric sources back in India.

By bringing the previous general of the fashion empire back, Reliance is ready to dominate the industry yet again.

Tesla officials met Indian government officials from various departments to plan to establish an automobile manufacturing unit in India. This plan comes as a result of Tesla not wanting to sell its product somewhere it cannot manufacture and service them and India's aversion to importing goods manufactured in China.

Tesla currently has manufacturing units established in US, Germany and China. A manufacturing unit in India could help the economy by generating jobs and bringing competition to the near-monopolistic EV industry.

After being slapped with a hefty ₹936.44 crore fine by the Competition Commission of India in October for playing rough with its Play Store policies, Google faced the consequences. 

The Alliance of Digital India Foundation stormed in, waving their banners of non-compliance, seeking a CCI review at the Delhi High Court.

But hold your popcorn, folks! In a high-stakes showdown, Google now bravely marches forward with its new payments policy in India, boldly proclaiming compliance with the CCI’s directives.
 

Chief Executive of Amazon Web Services (AWS), Adam Selipsky shared the company’s plans to invest over $12.7 Billion in India. This investment will boost the cloud infrastructure as well as add $23 Billion to the country’s GDP.

AWS has already invested $3.7 Billion in the country between 2016-2022.

After firing above 500 employees from Amazon India, is this the company’s way to placate the nation’s emotions?

Kishore Biyani's Future Retail has lost all favour, going from 49 ambitious bidders to just 6, with Reliance Retail and the Adani Group being the most recent and significant dropouts.

Space Mantra is the highest bidder, aiming for the whole business, while Pinnacle Air, Palgun Tech LLC, Lehar Solutions, Goodwill Furniture and Sarvabhishta e-waste management are bidding for parts of the company.

From 1,500 outlets to struggling for bidders, Future Retail really lost the plot.

Zomato has upped the game by introducing its own UPI offering called Zomato UPI in collaboration with ICICI Bank. 

This exciting development allows customers to seamlessly make payments within the Zomato app, eliminating the need for redirection to external platforms like Google Pay or PhonePe. 

They aim to entice users to embrace UPI payments over cash on delivery, by the simplification of the payment process. 

Can this fancy manoeuvre provide a smoother customer experience and improved efficiency for Zomato?
 

Manish Chopra, Meta India’s Head of Partnerships and Director, has decided to resign. After holding the fort at Meta for 4.5 years, Manish is now looking for a new phase in his professional life.

This is not the first time a chief position holder at Meta has stepped down. Meta’s India head Ajit Mohan and Whatsapp Head Abhijit Bose, also resigned last November.  

Am I the only one curious about what’s happening behind the scenes at Meta?🤔

The troubled $69 billion deal between Microsoft and Activision is now finally going to see the light of day. While UK competition regulators were opposed to the deal going through, the European Union has allowed the acquisition.

Problems seem to revolve around the phenomenon of "exclusive titles", which allow certain video games to be released on specific platforms only. One of the biggest video game producers getting acquired and limited to one platform could negatively affect the consumers' interests.

Cipla is bidding adieu to its stake in Saba Investment, UAE. They're handing over their 51% ownership to Shibam Group Holding, UAE. Sayonara, subsidiaries! 🙋‍♂️

Cipla Middle East Pharmaceuticals FZ LLC and Cipla Medica Pharmaceutical and Chemical Industries will no longer be Cipla's sidekicks. But fear not, Cipla's not vanishing, they're revamping their game. 

Be prepared for a pharma rollercoaster of change as Cipla is ready to serve you with a fresh business model.
 

As part of laying off around 27,000 employees globally, Amazon India is now leaving 500 employees in the dust.

As per CEO Andy Jassy’s announcement in late March, employees from Amazon Web Services (AWS), Human Resources and multiple functions are targeted. This decision can also be the result of the slow growth the Seattle-based company is witnessing in its e-commerce business in India.

Seems like Amazon India will be delivering bad news instead of happiness today!

Guess who's joining the engineering game? 🏏

Cricket legend Sachin Tendulkar has stepped up to the plate, making a sizzling strategic investment in AZAD Engineering. While the exact investment amount remains a secret, Tendulkar's involvement allows AZAD Engineering to power up its dedication to the “Make in India” and “Atmanirbhar Bharat” initiatives.

With this unexpected collaboration between sports and engineering, let’s see how big they score in the world of innovation!

Separating its pharmaceutical business, Sanofi plans to demerge in its wholly-owned subsidiary, Sanofi Consumer Healthcare India. As a sign of a decision well made, Sanofi India’s plans to demerge its consumer healthcare business have boosted its stock prices.

The announcement has increased their stocks by 12%, making investors satisfied with the plans.

Focusing to improve its Diabetes business, this demerger seems like a sweet success for Sanofi!

Hero Electric, a prominent Indian electric two-wheeler manufacturer, plans to go public by 2025-26.

Its goal is to achieve a sales target of 2 million vehicles in the next 3-5 years. They plan to expand their production and sales network to reach the ambitious targets.

With the increasing demand for eco-friendly transportation, they are in a favourable position to capitalize on this trend. Will their plans electrify investors and spark a new wave of interest in the company?

The Board of Directors accepted the proposal to raise ₹12,500 Crore for Adani Enterprises & ₹8,500 Crore for Adani Transmission Ltd. The fundraising would be accomplished by issuance of shares through the Qualified Institutional Placement (QIP) route.

The approval to raise funds will likely boost investors’ confidence regarding the company’s future prospects. It also proves the group’s ability to handle its debt.

Is this funding a “We Are Back” message from the Adani group & companies?

SoftBank had a good run in India, but it seems like the investment company is ready to say goodbye to the country. After reducing its stake in Alibaba and Delhivery, Softbank is now making a withdrawal from Paytm.

The Japanese investment firm has reduced its stake in the fintech player by 2.07%, selling 13,103,148 shares. SoftBank's stake in the company has gone from 13.27% to 11.17%.

How India startups feel as investors jump ship:

India’s EdTech major, Byju’s, has secured $250 million in fresh funding from Davidson Kempner as part of a $700 million fundraise.

The funding will aid the repayment of a $1.2 billion term loan, providing much-needed support to the world’s most valuable EdTech startup.

By relying on external funding to repay their massive term loan instead of addressing their internal financial issues, is Byju's taking the easy way out?

After stoking speculations of another change, Elon Musk has crowned Linda Yaccarino as Twitter’s new CEO. NBCUniversal’s former head of advertising, Yaccarino will take on her responsibilities in six weeks.

Meanwhile, Musk will be the executive chairman & take on the position of CTO (Chief Technology Officer). Musk believes this decision is another step in making Twitter into X, their everything app.

Whether Linda’s expertise in advertising help Twitter surpass its profitless phase would become clear with time!