Breaking News - The Purbottar

24 Dec

Are US stock markets closed on Christmas Eve?

Purbalee DuttaBreaking News

US investors are adjusting their plans after President Donald Trump announced that December 24 and December 26 will be observed as federal holidays. This raised questions about whether US stock exchanges would suspend trading on Christmas Eve. Despite the executive order, the US stock market will remain open on December 24. Both the New York Stock Exchange and Nasdaq have confirmed that trading schedules will not change, even though federal offices will be closed. However, markets will operate for a shorter session. On Christmas Eve, trading on the NYSE and Nasdaq will end early at 1:00 pm Eastern Time, instead…

09 Dec

The operator of India’s largest airline sees shares tumble after thousands of cancelations

Purbalee DuttaBreaking News

InterGlobe Aviation, the parent company of IndiGo, saw its shares drop over 8% on Monday as the airline struggled with widespread flight cancellations. IndiGo, which normally operates more than 2,300 daily flights, managed to fly only 706 on Friday after new pilot rest-time rules triggered major disruptions. By Sunday, it had restored operations to 1,650 flights and said it expected its network to stabilise by Wednesday. Civil Aviation Minister Ram Mohan Naidu announced an investigation into the disruptions, warning the airline of strict action for any non-compliance. Passengers have faced significant difficulties. Chirag Shah, travelling from Abu Dhabi to Mumbai,…

08 Dec

IndiGo mass cancellations continue for 7th day

Purbalee DuttaBreaking News

IndiGo’s operational crisis continued for a seventh straight day on December 8, with the airline cancelling more than 250 flights across major airports. According to reports, 251 flights were grounded at Delhi and Bengaluru alone. Delhi airport saw 134 cancellations — 75 departures and 59 arrivals — while Bengaluru’s Kempegowda International Airport recorded 127 cancellations, affecting 65 arrivals and 62 departures. Additional disruptions were reported nationwide: five flights were cancelled in Thiruvananthapuram, eighteen in Ahmedabad, and seventy-seven in Hyderabad. Jaipur airport also faced multiple IndiGo cancellations, though authorities said passenger movement remained calm. However, travellers were left waiting for updates…

06 Dec

Biocon to leverage global USP with biologics merger

Purbalee DuttaBreaking News

Biocon, the Bengaluru-based biopharmaceutical company, has announced that it will fully merge Biocon Biologics Ltd (BBL) into Biocon Ltd, making BBL a wholly owned subsidiary. Founder and executive chairperson Kiran Mazumdar-Shaw described the move as value-enhancing for investors and said the unified organisation will be better equipped to meet patients’ needs, particularly in diabetes care. Explaining the rationale, she noted that markets had consistently undervalued both entities, partly due to BBL’s earlier debt load, which would have hindered a successful IPO. She highlighted that BBL’s debt-to-EBITDA ratio has fallen from 4.3 in 2020 to 2.5 now, and is expected to…

29 Nov

Q2 GDP growth surprises at 8.2%

Purbalee DuttaBreaking News

India’s economy delivered an unexpected boost in the July–September quarter, clocking 8.2% growth—its fastest in six quarters—according to data from the statistics ministry. The figure surpassed both the RBI’s 7% estimate and the Mint poll forecast of 7.2%. Although economists attributed part of the rise to record-low inflation, the strong reading has reduced the likelihood of an RBI rate cut in December. Bond markets reacted quickly, with the benchmark 10-year yield rising to 6.5463%. The latest growth number compares favourably with last year’s 5.6% and the previous quarter’s 7.8%. Chief economic advisor V. Anantha Nageswaran noted that full-year growth should…

28 Nov

Meesho IPO!

Purbalee DuttaBreaking News, Featured

Meesho’s early investors and founders are set for massive gains after the company fixed its IPO price band at ₹105–111 per share, valuing the e-commerce platform at around ₹50,095 crore (basic share count) at the upper end. Moneycontrol had earlier reported that the Flipkart- and Amazon-rival was eyeing a post-money valuation of nearly ₹52,500 crore on a fully diluted basis. Co-founders Vidit Aatrey and Sanjeev Kumar, who jointly own over 18.5 percent of Meesho, stand to benefit significantly. Aatrey holds 47.25 crore shares (11.1 percent), acquired at just ₹0.06 apiece. His stake is now worth ₹5,245 crore—an increase of over…

25 Nov

Assam CM Reveals in Assembly Session That Zubeen’s Death Was Murder, Not Accident

Sonakshi SarkarBreaking News

Assam Chief Minister Himanta Biswa Sarma on Tuesday made a sensational statement in the Assam Legislative Assembly, asserting that legendary singer Zubeen Garg’s death during a yacht trip to an island in Singapore was not ‘culpable homicide’ but “murder.”Replying to an adjournment motion moved by the Opposition, Sarma said that based on preliminary information, the Assam Police had ruled out culpable homicide and had no doubt it was a case of murder. which is why, Section 103 of BNS was added to the case within three days of his death.“The state police, based on preliminary information, was sure that this…

25 Nov

USD vs INR: Why is rupee nosediving?

Purbalee DuttaBreaking News

The Indian rupee recovered slightly on Monday after a steep fall on Friday, supported by strong intervention from the Reserve Bank of India to curb volatility. The currency traded at 89.16 per U.S. dollar on November 24, gaining 0.35% in a day after briefly touching a record low of 89.48 last week, close to the key 90-per-dollar mark. Reports suggest the RBI sold dollars in both the order-matching system and the non-deliverable forward market to stabilize sentiment. The rupee had slipped past 88.80 on Friday—a level market participants believe the RBI had been protecting for some time—renewing downward pressure that…

24 Nov

Rupee bounces back on RBI intervention

Purbalee DuttaBreaking News

The Indian rupee strengthened on Monday, recovering from Friday’s record low, helped largely by what traders believe was early intervention from the Reserve Bank of India. By 10:20 a.m. IST, the rupee was trading at 89.1625 per dollar, up 0.3 percent from its previous close, after having fallen to an unprecedented 89.49 on Friday. According to traders, the RBI likely stepped in before domestic markets opened, enabling the currency to pull back from its steep decline. The sharp fall late last week surprised markets, especially after the central bank stopped defending the 88.80 level, a threshold it had protected for…

22 Nov

Tension grips Manipur as IDPs attempts to march to their native homes

Sonakshi SarkarBreaking News

Tension gripped Phugakchao Ikhai in Bishnupur district of Manipur today after a large group of internally displaced persons (IDPs) from , Torbung Bangla and several abandoned villages attempted to return to their native homes.Security forces stopped the march and fired tear gas shells to disperse the crowd after the situation turned volatile.The displaced families, belonging to Churachandpur district and areas of Bishnupur district bordering Churachandpur, gathered in large numbers demanding safe passage to their original settlements.Security personnel prevented them from proceeding beyond Phugakchao Ikhai, the last permissible point for the Meiteis.One protester said the IDPs decided to march because the…