Discover the top business headlines that are trending across the world today.
BharatPe and its former co-founder, Ashneer Grover, have finally reached a definitive settlement, thereby ending years of legal disputes. With the latest agreement, Grover will end all its ties with BharatPe and give up any shareholding in the company. The settlement comes as a relief to both the parties and they can move ahead amid the ongoing litigation. BharatPe, in its official statement, confirmed, "Mr. Grover will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company."
As part of the Ministry of Tourism’s new “Chalo India” campaign, India now plans to give 100,000 free visas to foreign tourists. The announcement, which was made during the World Tourism Day celebrations at Vigyan Bhawan, New Delhi, is aimed at boosting international tourism and encouraging the Indian diaspora to promote India abroad. The Ministry of Tourism said, "With more than 300 million overseas Indians, the Indian diaspora can serve as a powerful catalyst for Indian tourism, acting as cultural ambassadors.” As part of the scheme, Indian diaspora members can invite at least five foreign friends to pay a visit to India, and in turn, be cultural ambassadors.
On Monday, the Indian benchmark equity indices sank sharply. While the Sensex dropped 1,100 points, the Nifty slipped below the 26,000 mark. The dip was led by index bigwigs including Reliance Industries, IT, and financial stocks. Overall, the market capitalisation of all listed companies on the BSE fell by Rs 2.73 lakh crore to Rs 475.2 lakh crore. The Sensex was dragged down majorly by Reliance Industries, ICICI Bank, HDFC Bank, and Axis Bank as it fell 535 points. Others who contributed to the Monday Mayhem were Bharti Airtel, M&M, SBI, TCS, Infosys, and Tata Motors.
Adani New Industries (ANIL), the green energy components manufacturing arm of Adani Enterprises (AEL), is now planning to manufacture solar glass, aluminium frames, and backsheets at Mundra. The components are key parts for the company’s existing solar cell and module manufacturing. For those caught unaware, French energy giant TotalEnergies has a 25 percent equity stake in ANIL. Now the company is looking to build its own supply chain and thereby offer support to its solar cell and module manufacturing line.
