Business - Looma News

Ola Electric Hits the Jackpot: Stock Price Hits Upper Circuit Limit

Summary Ola Electric Mobility Ltd's stock saw a significant rise on August 19, hitting its upper circuit limit on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The stock price nearly doubled since its market debut, reaching Rs 146.03 per share on the BSE and Rs 146.38 per share on the NSE. This surge follows a strong performance on its listing day and a positive recommendation from global brokerage HSBC, which had set a target price of Rs…

By Vishal Kumar

August 19, 2024

Business / Technology

Cognizant Updates Salary Information: Fresh Engineer Compensation Ranges from Rs 4 to 12 Lakh

Summary Cognizant has clarified misinformation regarding its salary packages for entry-level engineers after facing backlash on social media. The company stated that the reported annual salary of Rs 2.52 lakh is for non-engineering undergraduate degree holders, not for engineering graduates. For fresh engineering graduates, Cognizant offers salaries ranging from Rs 4-12 lakh annually. This disparity was due to a misrepresentation of job postings for different educational backgrounds. Cognizant emphasized its commitment to training and upskilling both engineering and non-engineering associates, and highlighted…

By Vishal Kumar

August 19, 2024

Entertainment / Business / Technology

Crypto on Wheels: Bengaluru Auto Driver’s Bold Move Goes Viral!

Summary In Bengaluru, an auto driver has gained social media attention by announcing his acceptance of cryptocurrency as payment, a move reflected in a notice displayed inside his vehicle. This unconventional payment method has sparked a variety of reactions online, highlighting the evolving nature of cryptocurrency adoption in India. The driver’s action represents a broader trend of integrating digital currencies into everyday transactions, contrasting with the regulatory environment. India has imposed a 30% tax on cryptocurrency income since April 2022, alongside a…

By Vishal Kumar

August 19, 2024

Business

From ₹5 Lakhs to ₹17 Crores: The Remarkable Rise of Aegte

Summary Rupali Sharma, an entrepreneur from an orthodox family, transformed her personal struggle with hair fall into a successful business venture. In 2017, she founded Aegte, a nature-based personal care brand, with an initial investment of ₹5 lakhs. By 2023-24, Aegte achieved a revenue of ₹17 crores. Sharma's journey began with her personal challenge of postpartum hair loss, which led her to develop and market onion oil. Despite initial skepticism and logistical challenges, Aegte's innovative products quickly gained popularity. The brand has…

By Vishal Kumar

August 18, 2024

News / Business / Entertainment / Family

How a Man in a Small Village in Rajasthan Made ₹1 Crore from Aloe Vera

Summary Rakesh Choudhary, hailing from a small village in Rajasthan, embarked on a challenging journey to build a successful business in medicinal plants, specifically Aloe Vera. Despite initial failures and setbacks, Choudhary's persistence led to the establishment of Vinayak Agro Herbal Limited, a major player in the industry. His venture, which initially faced difficulties such as crop failures and market challenges, eventually thrived due to his strategic shift towards Aloe Vera and his innovative approach to supporting local farmers. Today, his company…

By Vishal Kumar

August 17, 2024

News / Business / Technology

Big Billion Days Just Got More Expensive—Flipkart’s New Fee Explained

Summary Walmart-owned Flipkart has introduced a uniform platform fee of Rs 3 across its ecommerce platform, emulating quick commerce competitors like Swiggy, Zomato, and Zepto. This fee, which applies to orders up to Rs 10,000, is part of Flipkart's strategy to sustain efficient operations and enhance user experience. However, it is not applied to Flipkart Grocery or its travel vertical, Cleartrip. The fee is already in place on Flipkart's fashion vertical Myntra and its quick commerce arm Flipkart Minutes. This move aligns…

By Vishal Kumar

August 17, 2024

Business / Technology

HSBC Sees Big Future for Ola Electric: 26% Upside and Growing EV Market

Summary HSBC Global Research has initiated coverage on Ola Electric Mobility Ltd., assigning a 'buy' rating with a target price of Rs 140, which implies a 26.2% upside potential. The recommendation is based on Ola Electric's competitive pricing against petrol scooters and its promising battery venture. Despite current high production costs for electric scooters and potential challenges with battery manufacturing, HSBC believes that improvements in cost efficiency and growing consumer awareness will drive EV adoption. The report also notes increasing acceptance of…

By Vishal Kumar

August 17, 2024

Business / News

UltraTech Cement’s ₹7,100 Crore Power Move: Major Stake in India Cements to Dominate Southern Market!

Summary UltraTech Cement is set to acquire a 32.72% stake in India Cements for ₹3,954 crore, triggering an open offer that could bring the total cost to ₹7,100 crore. This follows a recent investment of ₹1,889 crore for a 22.77% stake. India Cements has a capacity of 14.45 MTPA, mainly in Tamil Nadu and Rajasthan. The acquisition will enhance UltraTech's presence in Southern markets and aligns with its goal of reaching 200+ MTPA capacity by 2028. The deal, pending regulatory approvals, will…

By Vishal Kumar

July 28, 2024

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