Bullets

The food delivery sector has seen lots of adverse action these past few months, and now market leaders are also affected. Delivery workers from Swiggy and Zomato went on strike.

Better distribution of orders & workloads, optimisation of pickup & drop distances, comprehensive insurance coverage for workers & their families, and equitable access to incentive programmes are some demands.

Organised by Shiv Sena-affiliated Rashtriya Karmachari Sena and the Indian Federation of App-based Transport Workers (IFATW), thousands of workers are protesting.

Know how many of these demands are valid in the retrospective of Zomato by clicking here.

Cipla’s possible stake sale is seeing a roadblock in the form of a lack of common grounds from the promoter’s end. Cipla has a 33% promoter’s stake and was valued at around ₹1 lakh crore on September 2022.

As per inside sources, Cipla’s founders planned a deal keeping the company’s valuation at ₹1.09 trillion.

Now, the likely deal is on hold due to promoters being unaligned for the company’s valuation.

Cipla is one of the biggest pharmaceutical companies in India. Know whether investing in pharma companies is a complicated process by clicking here.

Institutional investments in Indian real estate surged to $4.6 billion in January-September 2023, a 27% year-on-year increase. 

The investments for the first nine months of 2023 have already reached 93% of the total inflows recorded in 2022 despite a complex global economic landscape. 

Some recent deals include Brookfield India REIT and GIC investing $14 million in office assets, Pragati Group securing $200 million from a Singapore-based fund, and HDFC Capital Advisors investing over $182 million with Abhinandan Lodha's group.

Is India's Real Estate Industry a Booming Sector for Investors? Check here.
 

Abu Dhabi Investment Authority (ADIA) plans to buy a 0.59% stake worth ₹4,966.8 crore in Reliance Retail Venture Limited (RRVL). The transaction is going to take place via a wholly-owned subsidiary of ADIA.

The fundraising round will increase RRVL's valuation to ₹8.38 lakh crore from September's valuation of ₹8.36 lakh crore. It would be the third funding in Mukesh Ambani's Reliance Retail for the fiscal year.

Ambani's big plans are indeed in motion.

Wondering what those "plans" are? Read about Reliance Industries Ltd.'s future intentions by clicking here.

Bajaj Finserv's shares surged over 3% and Bajaj Finance rose 1.8% following the latter's board approval to raise ₹8,800 crore through Qualified Institutions Placement (QIP) and an additional ₹1,200 crore via convertible warrants. 

Bajaj Finance will issue 15,50,000 preferential warrants to its promoter, Bajaj Finserv, which can be converted into equity shares within 18 months. 

The conversion will increase Bajaj Finserv's stake in Bajaj Finance from 52.45% to 52.57%.

For detailed company analysis of various players, click here.

Well-known Real Money Gaming (RMG) firm Dream11 has taken possession of Sixer. The fantasy game firm allows customers to buy and sell fantasy stocks in cricket players.

Based on cricket players' real-life performance, the price of the stocks rises and falls in Sixer.

Sixer's founder, Amay Makhija, believes his firm to be the future of fantasy sports and is optimistic about the deal. The deal size was not revealed.

This acquisition comes at a time when the Directorate General of GST Intelligence (DGGI) is passing dozens of notices for a 28% GST penalty. Click to know the matter in detail.

India’s first opto-semiconductor chip manufacturing firm, Polymatech Electronics, plans to raise funds via an Initial Public Offering. The firm has filed for a Draft Red Herring Prospectus (DRHP) to SEBI.  

With a face value of ₹10 each and an issue size of ₹750 crore, Polymatech Electronics plans to bring out fresh equity shares.

The company plans to utilise funds worth ₹565.73 crore from IPO for purchasing machinery for its Tamil Nadu facility. Interested in investing in the IPO? 

While going through the DRHP of Polymatech Electronics, click here to know why companies wish to be listed on Stock Exchanges.

While Shell India has raised diesel prices by up to ₹20 per litre in a week due to international oil prices around USD 90 per barrel, public sector fuel retailers have kept rates unchanged for an unprecedented 18 months. 

Shell India, without its own refinery, sources products and adjusts prices based on international oil price surges since August. 

Is it time for a new approach to managing fuel costs?

Crude oil: Price war vs Global Demand- learn more here.

Today, the ICC Men's Cricket World Cup begins in India. To encourage women's participation, around 30,000-40,000 women from Ahmedabad will attend the opening match between England and New Zealand at the Narendra Modi Stadium for free. 

Local BJP leaders are distributing tickets and offering complimentary tea and lunch coupons to mobilise women, inspired by the recent passage of the women's reservation bill in Parliament.

To discover the advantages of the World Cup for you, click here.
 

Vedanta Resources, led by billionaire Anil Agarwal, is in advanced talks with JPMorgan Chase and Standard Chartered Bank to secure a $3 billion refinancing deal. 

This move aims to prevent a potential default as the company faces bond repayments of $3.1 billion in 2024-25. 

While the London-based parent company has relied on dividends from its subsidiaries to meet payment obligations, it has depleted the cash reserves of Vedanta Ltd and other units, constraining their growth potential.

To know all the details about the company, click here.

Maggi noodles manufacturer Nestlé witnessed a stock price hike of 4.45% on October 3 with the announcement of a stock split and interim dividend. Nestlé's board of directors will consider the proposal for the division of shares of ₹10 face value each.

With the financial report for the September quarter, the final call on stock split will be released on October 19.

35.6% growth in net profit in the June quarter has attracted people's attention towards Nestlé India.

With so much going on, Nestlé India's old rivalry with HUL is bound to take an interesting turn. Read here to get insight into the competition between the two giants.

X's CTO Elon Musk plans to make the platform an "everything app". In a video post on October 2nd on X, Musk revealed a video game streaming and live shopping feature.

A 40-minute streaming of the game Nightmare Dungeon game by Musk followed a partnership with Paris Hilton's 11:11 Media company for live shopping. 

Looks like Elon is powering up his idea of making X the "super app" competing with China's WeChat. What about X's ongoing capital troubles?

Musk and X is a combination of drama. Read here to learn how X, previously Twitter, has been suffering ever since its management change.

Man Industries' shares reached ₹196.70 today following an order worth around ₹400 crore, with the customer's identity kept confidential.

Specialising in pipe manufacturing, the company anticipates completing the project within six months and holds an unfulfilled order book valued at approximately ₹1600 crore.

In the June 2023 quarter, the company recorded a 13% increase in net profit, reaching ₹11.88 crore, with a revenue of ₹464 crore.

To learn about another company that recently secured an order equivalent to half of its market capitalisation, click here.

Captains stay with the sinking ship, but this doesn’t seem to be true with cash-strapped startup Dunzo. First, the largest shareholder, Reliance Retail’s Chief of Business Operations Ashwin Khasgiwala and Finance Head Rajendra Kamath, left the board in August. Now, Co-Founder Dalvir Suri has parted ways.

There are even speculations of another Co-Founder, Mukund Jha, leaving the troubled firm.

Cash-flow issues and pending dues have resulted in the exit of several representatives from the board.

It would be tough to interpret how Dunzo will sail in the storm. But you won’t have to worry about how to analyse the real estate industry. Click here to take advantage of this booming sector now.

Vedanta Limited, owned by billionaire Anil Agarwal, has announced a strategic move to demerge its various businesses into six separate listed entities, including metals, power, aluminium, and oil and gas. 

These entities include Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta Limited. 

Shareholders of Vedanta Limited will receive one share in each of these newly listed companies for every one share of Vedanta Limited they hold.

Meanwhile, explore the IT sector's challenges and potential solutions here.

Emami's stock price surged nearly 5% in early trading after the company announced its entry into the juice sector. 

Emami acquired a 26% equity stake in Axiom Ayurveda Pvt Ltd, the company behind "AloFrut" beverage products. 

Axiom Ayurveda also offers a range of carbonated beverages, including mocktails and energy drinks, along with Ayurvedic healthcare juices under the Jeevan Ras brand.

Emami's move into the juice category signals its diversification efforts in the FMCG sector.

Read here to know about Himalaya: The company that bottled Ayurveda.

Formerly Google's General Manager, Kiran Mani, will now be the CEO of Viacom18's subsidiary JioCinema. Kiran would lead technology development for the company and head partnerships with Hollywood studios.

Mani is well known for being the former adviser to Bodhi Tree investment firm and handling Google's Asia Pacific region.

With Mani's appointment as the CEO, JioCinema's wish to expand its reach in the nation would be the priority.  

Meanwhile, read about what RIL has in the plan for its telecommunications firms by clicking here.

India’s newest airline company shocked the nation when it revealed being in a crisis due to a lack of pilots. Akasa Air lodged a complaint against 48 pilots who jumped ships without completing the mandatory notice period.

Delhi High Court ruled in favour of Akasa Air, giving them the power to take action against pilots and airlines opposing the Civil Aviation Requirements (CAR).

Read here to know how Akasa Air might be on the verge of shutting down. 

Several real-money gaming firms, including Dream11 and Head Digital Works, are preparing to take legal action against the ₹55,000 crore in tax dues they recently received notices for. 

Dream11 has already filed a petition in the Bombay High Court, and others are expected to follow suit. 

With the possibility of total GST dues reaching ₹1 lakh crore, these companies are seeking legal remedies to address their tax challenges, especially in the wake of the 28% GST on gaming.

The Indian online gaming industry faces uncertainty and potential challenges due to these tax-related developments. To know more, click here.

ICICI Lombard has received a government notice demanding ₹1,728.86 crore in taxes for alleged GST non-payment.
 
The notice, related to co-insurance and reinsurance transactions from July 2017 to March 2022, was disclosed by the company recently. 

This follows similar tax notices issued to Delta Corp and Dream11.

These tax challenges highlight the growing scrutiny on financial transactions and tax compliance in India, potentially impacting various sectors. 

For insights into how the recent GST increase has affected Delta Corp, click here.