Godrej, Go Digit, IndiGo, JSW Paints, Canva, Meta, Robocaller, etc.

Author

Vaishali Sharma
May 24, 2024

From Startups to Giants: Covering All of India's Business in Less than 5 Minutes

Market Briefs

Main Briefs

Zee Demands $90 Million Fee from Sony for Failed $10 Billion Merger

pc: Business Today

  • Zee Entertainment seeks $90 million termination fee from Sony's India unit, Culver Max Entertainment, and Bangla Entertainment Pvt. Ltd.

  • The $10 billion merger deal was terminated due to leadership issues and unmet conditions.

  • Zee incurred Rs 432 crore in merger-related costs for 2023-24 and 2022-23.

  • Sony's unit approached the Singapore International Arbitration Centre seeking $90 million from Zee.

  • Zee stated that the arbitration cases would not have a material adverse impact.

  • Zee has announced cost-cutting measures, including a 15% workforce reduction.

  • For the quarter ending in March, Zee reported a net profit of Rs 13.35 crore, reversing a loss from the previous year.

  • Total income for the reporting quarter increased by 3% year-on-year to Rs 2,185 crore.

Briefs, You Can’t Miss:

  1. Southern Indian State to Host Google's New Smartphone Production Plant.

  2. Placement Crisis: 7,000 IIT Students Unemployed, Alumni Called for Assistance.

  3. JSW Paints Turns Profitable, Targets Rs 5,000 Cr Sales by FY26.

  4. Government Considers Extending PMSBY Claims Deadline for Informal Workers.

  5. InterGlobe Aviation Reports Q4 Profit of Rs 1,895 Cr, Revenue Increases by 26%.

  6. Godrej Properties Nets Rs 2,000 Cr from Selling 650 Flats in Noida.

  7. Pre-owned Car Sector Set to Expand to 1.09 Cr Units by FY28, Report Finds.

  8. Quick Commerce Outpacing Traditional E-Commerce by 4-5X: Mamaearth CEO.

  9. Go Digit Debuts on Exchanges, Sees 12% Gain on Issue Price.

World Briefs

  • Canva Introduces Enterprise Features, Redesigns Website After a Decade.

  • Elon Musk's Community Notes on X Demonstrates Positive Impact.

  • India Negotiates with Sri Lanka to Acquire Graphite Mine Block.

  • Maldives to Introduce India’s RuPay Payment System.

  • EU Fines Oreo Maker Mondelez 337.5 Million Euros for Antitrust Violations.

AI Briefs

  • Meta AI Chief Doubts ChatGPT Will Achieve Human-Level Intelligence.

  • Zuckerberg Launches AI Product Advisory Council.

  • Tira from Reliance Uses AI to Penetrate India’s Glamorous Beauty Market.

  • $6M Fine Imposed on Robocaller for AI-Cloned Biden Voice.

Company Of The Day

Company Name: Go Digit

Founder: Kamesh Goyal

Year Of Foundation: 2016

Headquarter: Bengaluru, Karnataka, India

Industry: Go Digit-Life Insurance offers life insurance products.

Why Is It in the News?

Successful Listing: Go Digit Shares Increase 12% on First Day of the IPO launch.