Resourceful Automobile’s stock listed flat at its IPO price of Rs 117 on August 29, even though it was massively oversubscribed by 400 times. The Delhi-based company, which runs just two outlets and has a small team, saw bids for 40.76 crore shares compared to the 9.76 lakh available. The stock’s initial performance didn’t live up to the grey market hype, where it was trading at an 89% premium.
SpiceJet’s flights from Dubai hit another snag on August 29 because of payment issues. Multiple flights had to turn back to India empty since the airline couldn’t pay for parking. This is just another chapter in SpiceJet’s ongoing saga of financial troubles and operational problems. They’ve had a rough month with various disruptions, delayed employee wages, and even a recent court ruling that’s affected their operations.
Mukesh Ambani just dropped some big news at Reliance’s AGM: they’re building a massive electrolyser manufacturing plant that’ll be up and running by 2026. Plus, he unveiled JioBrain, a new AI-powered initiative to boost efficiency and service at Jio by weaving Generative AI into everything they do.
Reliance Industries’ shares went up by 3% after the company said they’re considering a 1:1 bonus issue on September 5. The stock reached Rs 3,074.80 on the BSE, marking an 18% increase for the year. This news came right before the company’s 47th AGM.
Pakistan’s hockey team is making headlines for having to borrow money to get air tickets for the Asian Champions Trophy in China. It’s a real bummer, especially since they’ve been doing well lately. The Pakistan Hockey Federation is asking for financial help while the team, dealing with travel hiccups, is getting ready for the tournament starting September 8.
Heavy rains in Gujarat have really messed up a part of the Rajkot-Ahmedabad highway. The downpour caused some serious damage, and there’s a video going around on social media showing just how bad it is.
Delhi court just turned down the CEO of Rau’s IAS Study Circle’s request to reopen the coaching center where three students tragically drowned in July. The court mentioned issues like misuse of the building, no fire safety certificates, and doubts about the students’ complaints. But don’t worry, students can still attend classes at other locations so their studies won’t be interrupted.
A Davenport cop ended up shooting and killing a pet dog named Myst right in front of two kids, and it was all caught on video. The video, which has blown up online, shows the dog running up to the officer before getting shot. The dog’s owner, Don Hesseltine, is super upset and has started a petition that’s already got over 1,500 signatures demanding something be done about it.
Jay Shah, the BCCI secretary, has been chosen as the next ICC chairman without any competition. At 35, he’s set to be the youngest person ever in this role. He’ll take over from Greg Barclay on December 1, 2024. Shah will be the fifth Indian to hold this position and wants to boost cricket’s global reach, especially with it being included in the 2028 LA Olympics.
Dev Singh and Mohan Kumar just got busted in Farrukhabad, Uttar Pradesh, for trying to derail a train by sticking a wooden log on the tracks. This all went down over the weekend, but luckily, the train’s super-alert pilot stopped it in time. Singh, who’s the son of a farmers’ leader, and Kumar were apparently just trying to get some attention with their risky stunt.