Bullets

Media intermediaries like Twitter & Facebook might soon be held accountable for the content on their platforms. With the public unveiling of the Digital India Bill, the neutral ground for these platforms is in danger of poofing.

MoS for Electronics & Information Technology, Rajiv Chandrasekhar, is releasing the draft of the Digital India Bill for public consultation in June’s first week. 

Here’s hoping the 22-year-old IT Act’s replacement would bring much-needed changes to make the digital world safe for netizens.

The Adani Group has recently seen the market capitalisation of the various stocks of the conglomerate rise to their all-time highs since the ill-fated release of the Hindenburg Research report on 24 January 2023.

Adani Enterprises showed the strongest hike of all the stocks, reaching ₹2,600 on Tuesday from the ₹1,900 range last week.

After losing around ₹82,000 crore last week and making the same amount back through the ongoing rally, Adani is turning out to be one volatile underdog!

Meta, the proud owner of Facebook, has just been slapped with a mind-boggling fine of 1.2 billion euros! 

Since 2020, the Irish Data Protection Commission (DPC), acting as the EU's watchdog, has diligently investigated Meta Ireland's practice of transferring user data to the United States.

This marks the third hefty fine Meta has faced in the EU this year and the fourth in just six months. 

Ouch! Looks like Meta's piggy bank is taking a hit.
 

BSNL, the government-owned telecom company, has placed advance purchase orders worth over ₹15,000 crores to TCS and ITI for deploying 1,00,000 4G sites nationwide. 

Tejas Networks, a key player in the TCS-led alliance, will provide the essential Radio Access Networks (RAN) equipment for the project. 

Will this ambitious project finally bring high-speed communication services to every BSNL user?
 

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?