Bullets

US prosecutors charged Adani Group chairman Gautam Adani and 7 others, including his nephew Sagar Adani with bribery allegations.

Adani Enterprises & Adani Energy Solutions, 2 of Adani Group's stocks dropped by 20%.

It reduced the group’s MCap value by ₹2 lakh crore, now at ₹12.3 lakh crore.  

This marks the conglomerate’s worst trading day since the Hindenburg incident in 2023.

Be in touch with the happenings related to Adani from here.

Zomato's got the appetite for India's food delivery market! The food delivery giant now controls a whopping 58% of the market share, leaving Swiggy with a 42% slice of the pie.

Meanwhile, Zomato's quick commerce arm, Blinkit, is leading the charge in speedy deliveries.

Want to know more about this food fight? Click here.

Groww, the popular stockbroking platform, just had a bit of a valuation rollercoaster. During its recent move back to India, its worth was slashed to under $2 billion (₹16,800 crore).

This means they paid a hefty tax bill of ₹1,340 crore to the US government. That's a 30% drop from their previous $3 billion (₹25,200 crore) valuation!

Why the sudden dip? Well, it's a clever tax strategy. By reducing their valuation, they can lower their tax burden.

Other fintech giants like Razorpay are considering similar moves.

Also Read: Groww App Review: Is It Really Safe?

Flipkart's Big Billion Days sale played a pivotal role in Walmart's international sales.

According to Walmart CFO John David Rainey, the sale led to double-digit growth in FlipKart’s revenue and customer base, with same-day deliveries surging up to 2.5 times in the festive season.  

The international net sales of Walmart boomed by 8% YoY to $30.3 billion (₹2.5 lakh crore).

Wanna know the full story of the Flipkart-Walmart merger? Click here.

Byju's lenders, including Glas Trust, are raising eyebrows over an upcoming EGM called by Aakash Institute. They fear this meeting could interfere with the ongoing insolvency proceedings against Byju's.

Glas Trust, representing a group of US lenders who loaned Byju's $1.2 billion (₹10.08 crore), is concerned about the potential impact of the EGM on their investments.

Stay tuned for more updates on this developing story from this link.

Karnataka is stepping up its tech game! As the first state in India, they've launched a dedicated Global Centre of Excellence (GCC) policy.

This ambitious plan aims to make Karnataka the ultimate hub for innovation and tech.

To achieve this, the government will set up three high-tech innovation districts in Bengaluru, Mysuru, and Belagavi.

Want to be part of this tech revolution? Click here.

India's gaming industry is getting serious about responsible gaming. Gaming companies & industry bodies like the All India Gaming Federation and the E-gaming Federation are coming together to draft a common policy code.

This code will focus on stricter KYC norms, curbing addiction, and promoting responsible gaming. It's a big step towards ensuring a safer and fairer gaming environment for all.

Know more about how the gaming industry is performing from here.

New-age companies like beauty, wearables, and e-commerce are feeling the pinch of slowing urban consumption. Rising inflation and higher living costs are making people tighten their purse strings.

What's happening:

• E-commerce: Companies like Delhivery are seeing a slowdown in online shopping.
• Beauty: Brands like Mamaearth are struggling, with recent losses impacting their stock price.

Also Read: What if there was no inflation?

Lenskart is back in the spotlight with a potential $200-300 million (₹2,100 crore) secondary share sale. This could value the company at a whopping $6 billion (₹50,400 crore)!

Just a few months ago, Lenskart raised $200 million (₹1,680 crore) from big-name investors like Fidelity and Temasek. Now, existing investors are eager to invest more, aiming for a 20% premium on the company's recent valuation.

Want to know more about this company? Click here.

Elon Musk's X (formerly Twitter) is betting big on influencers to boost engagement. But in India, it seems like the platform still has some hurdles to cross.

Digital marketing experts say that while X has made strides in promoting influencers, there's still a gap between its global ambitions and the Indian market's specific needs.

It remains to be seen if X can successfully tap into India's vibrant influencer ecosystem and monetise it effectively.

Also Read: How Twitter is suffering from the "Elon Musk" effect?

Zerodha's CEO, Nithin Kamath, is sounding the alarm on India's stock market. After a wild ride for the past four years, the market might be slowing down.

Kamath expects a 30-50% revenue hit due to stricter F&O trading rules. While he's excited about the wave of IPOs, he's concerned about the long-term sustainability of 'growth over profits' models.

Is it time to rethink your investment strategy? Learn more from here.

The Enforcement Directorate (ED) is now targeting Amazon and Flipkart directly in its ongoing investigation. The agency is probing whether these e-commerce giants have violated Foreign Direct Investment (FDI) norms by exercising control over their sellers.

This is a major escalation from the initial focus on individual sellers. The ED's investigation dates back to 2019 and aims to determine if these companies have overstepped their boundaries as mere marketplaces.

While the companies maintain their innocence, the ED's scrutiny could have significant implications for the e-commerce industry in India.

Also Read: Why are investors abandoning Flipkart?

Elon Musk is taking aim at his former partner, Sam Altman, and OpenAI. In a recent court filing, Musk claims that OpenAI is prioritising growth over safety, potentially monopolising the AI market.

Musk is particularly concerned about OpenAI's shift from a nonprofit to a for-profit company, fueled by billions of dollars from Microsoft. He argues that this change has compromised OpenAI's original mission.

As this high-stakes battle unfolds, the future of AI hangs in the balance.

Know the full story from this link.

India is gearing up to roll out its first new senior citizens policy in a quarter-century (25 years).

The government is also planning to revamp the Maintenance and Welfare of Parents and Senior Citizens Act to better cater to the needs of our ageing population.

The Association of Senior Living India (ASLI) is calling on the government to form a special task force to study global best practices for senior care.

Know more about Senior Citizen Savings Scheme from here.

Honasa Consumer, the parent company of Mamaearth, has hit a roadblock. They've reported a net loss of ₹19 crore for the last quarter, a stark contrast to the profit they made last year.

The culprit? A shift in their distribution model. They're moving away from super-stockists to direct distributors, which has temporarily slowed down sales and impacted their bottom line.

While this might be a short-term setback, the company believes this strategic move will pay off in the long run.

Brainbees Solutions, the company behind FirstCry, is showing signs of improvement. Their net loss for the last quarter was significantly lower than the previous year, dropping from ₹101 crore to ₹63 crore.

Here's a breakdown of their performance:

• GMV: Up 21% to ₹2,529 crore
• Unique Customers: Increased by 16.5%
• EBITDA: Up 38% to ₹110 crore
• Cash Profit After Tax: Soared 209% to ₹28 crore

Is this the start of a new chapter for FirstCry? Stay tuned with Bullets by Insider to know more.

Delhivery, the logistics giant, has scored a net profit of ₹10 crore in the latest quarter, a significant turnaround from last year's loss.

However, it’s a bit of a mixed bag, as the profit is down 81% from the previous quarter.

While their revenue has climbed to ₹2,190 crore, the growth in express parcel shipments has slowed down to just 3%.

What could Delhivery do to resolve this issue?

India's IT giants are making big moves in the BFSI sector! Companies like L&T Tech Services and Persistent Systems are snapping up smaller firms in the US and UK to boost their growth.

L&T Tech Services recently acquired Intelliswift for $110 million (₹924 crore). They're aiming to double Intelliswift's revenue in just three years!

With these acquisitions, Indian IT firms are positioning themselves as global leaders in the BFSI space.

Hindustan Aeronautics (HAL) is facing a rough patch. After reaching a record high of ₹5,674.75 in July, the stock has taken a nosedive, falling nearly 28%.

The stock’s recent struggle with the Ichimoku cloud and the 200-day EMA suggests that it might be in for a tougher ride.

Do you think this is the right time to buy or sell HAL?

Know more about the top companies in India from here.

SpiceJet has just paid off a hefty $90.8 million (~₹762 crore) debt to Export Development Canada (EDC).

The airline recently raised ₹3,000 crore through a QIP, which was oversubscribed. This extra cash helped them settle the debt and save $68.3 million (over ₹570 crore).

As part of the deal, SpiceJet now fully owns 13 Q400 aircraft.

Let's see if this positive momentum can help them soar even higher.