Zomato and Swiggy, have taken a notable hit as competition in the quick commerce sector intensifies. Both companies experienced a drop in their stock prices due to increasing pressure from new entrants and heightened rivalry from established players in the fast-delivery market. Zomato’s stock fell by 3.2%, while Swiggy’s declined by 2.5% in the most recent trading session. This downturn reflects growing investor concerns about the escalating competition in the food delivery and quick commerce landscape, which has seen a rise in both new startups and the aggressive expansion of…
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Paytm’s Q3 FY25 results represent a significant milestone on the path to profitability
Paytm has announced strong financial results for Q3 FY25, indicating a significant step towards achieving profitability. The digital payments leader experienced a remarkable rise in revenue, fueled by robust growth in its payment services, financial products, and merchant solutions. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) also demonstrated considerable improvement, showcasing its increasing operational efficiency and a growing user base. With a notable uptick in active users and a rise in both payment transactions and loan disbursements, Paytm is making steady progress towards its long-term profitability goals….
Read MoreApple has taken action by removing TikTok and ByteDance apps from the U.S. App Store.
In a notable development, Apple has reportedly taken the step of removing TikTok and several other apps from ByteDance, the Chinese tech giant behind TikTok, from the U.S. App Store. This action is a response to rising concerns regarding user privacy and data security, particularly as scrutiny of Chinese-owned apps in the United States intensifies. This decision follows a series of government investigations and an increase in public discourse about the safety of personal data collected by apps like TikTok, which boasts billions of users globally. Authorities have expressed concerns…
Read MoreJioCoin: Is Reliance Jio About to Step into the Crypto Space?
Reliance Jio is reportedly looking into the cryptocurrency market with plans to launch its own blockchain-based token, JioCoin. This token is believed to be part of the company’s larger digital strategy and could signify Jio’s official entry into the expanding realm of cryptocurrencies. Industry insiders suggest that JioCoin will utilize blockchain technology to facilitate secure and transparent financial transactions, as well as other functionalities within the Jio ecosystem. Although specific details are limited, the announcement has sparked considerable excitement, especially given Jio’s strong foothold in the telecom industry and its…
Read MoreJio is set to move its Rs 199 postpaid users to the Rs 299 plan due to the recent price increase.
Telecom giant Jio has announced a notable price increase for its postpaid users, with subscribers currently on the Rs 199 plan being upgraded to the Rs 299 plan. This change will take effect in the coming weeks, affecting many customers who have chosen the Rs 199 plan for its affordability and basic postpaid features. With this adjustment, Jio aims to streamline its postpaid offerings while adding more services and features to the upgraded Rs 299 plan. The new plan will provide a higher data limit, improved voice benefits, and extra…
Read MoreWipro’s profit for the third quarter has increased by 24.5%, driven by growth in its consulting services.
Wipro announced a 24.5% increase in net profit for the third quarter, fueled by significant growth in its consulting services and efficient cost management. The IT giant’s strategic emphasis on high-margin consulting projects and operational efficiencies played a key role in this strong performance. Revenue also experienced steady growth, bolstered by strong client demand in essential sectors. Wipro highlighted that these results reflect its dedication to providing value-driven solutions while managing expenses effectively. Analysts see these results as a positive indicator of the company’s ability to adapt in a competitive…
Read MoreAmazon has acquired Axio to enhance its fintech services.
Amazon has officially acquired fintech company Axio, a strategic decision aimed at strengthening its foothold in the financial services industry. Axio, recognized for its expertise in credit solutions and payment technologies, is set to enhance Amazon’s capacity to provide innovative financial products to its extensive customer base. Although the financial specifics of the deal have not been disclosed, this acquisition fits into Amazon’s larger strategy to incorporate advanced financial tools into its ecosystem, which includes e-commerce and cloud services. Analysts suggest that this move could lead to new consumer lending…
Read MoreIndian space startups have been selected for a collaborative Indo-US defense program.
For the first time, seven Indian space startups have been chosen to take part in a significant Indo-US defense collaboration program, representing a major achievement for India’s private space industry. Companies such as KaleidEO, EtherealX, and Aadyah Space will have the opportunity to tap into the extensive U.S. defense and space markets, along with receiving guidance from industry leaders like Lockheed Martin and Northrop Grumman. This initiative, which is part of the India-U.S. Defense Acceleration Ecosystem launched in 2023, seeks to promote innovation in satellite technology, space observation, and advanced…
Read MoreHindenburg Research has officially shut down, with Nate Anderson disbanding the firm.
In a surprising turn of events, Nate Anderson, the founder of Hindenburg Research, announced on Wednesday that the well-known U.S.-based financial research firm is closing its doors. Hindenburg gained international recognition for its explosive short-selling reports, which exposed alleged corporate fraud and financial misconduct in companies like Nikola, Adani Group, and Lordstown Motors. The firm’s investigations frequently triggered market turmoil and highlighted issues in corporate governance, establishing its reputation as a bold watchdog in the financial sector. However, Anderson’s decision to dissolve the firm has left analysts and investors pondering…
Read MoreSpaceX has successfully launched satellites for three Indian startups.
In a major achievement for India’s private space sector, three Indian space-tech startups—Pixxel, Digantara, and XDLINX Space Labs—successfully launched their advanced satellites on SpaceX’s Transporter-12 rideshare mission. The launch occurred on Wednesday at 1915 GMT (just after midnight in India) from the Vandenberg Space Force Base in California, USA. These satellites, designed to monitor Earth and track space objects, showcase India’s expanding role in the global space-tech landscape. Pixxel, recognized for its innovations in hyperspectral imaging, sent up another of its state-of-the-art satellites aimed at delivering detailed insights into environmental…
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