Ola Electric IPO price band set at ?72-?76 per share; Paris Olympics 2024 Day 4: Manu Bhaker eyes her second medal; Startups & more
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Paris Olympics 2024 Day 4 LIVE: Manu Bhaker eyes her second medal, to compete in 10m Air Pistol Mixed Team event
Indian contingent will be looking to make a confident start on Day 4 and hope to add more medals to its tally.?
Here is what is lined up for the sports fans for today.
Shooting Trap Men's Qualification: Prithviraj Tondaiman -- 12:30 pm
Trap Women's Qualification: Shreyasi Singh and Rajeshwari Kumari -- 12:30 pm
10m Air Pistol Mixed Team Bronze Medal Match: India (Manu Bhaker and Sarabjot Singh) vs Korea -- 1pm
Hockey*
Men's Pool B Match: India vs Ireland -- 4:45 pm.
ideaForge shares fall 10% after Q1 profit falls 90%, gross margin contracts sharply
Shares of ideaForge Technologies Ltd. fell as much as 11% on Tuesday after the company's June quarter results saw a near erosion of its net profit compared to last year.
or the June quarter, the company reported a 90% drop in its net profit to ?2 crore. Last year, the company had reported a net profit of ?19 crore. Revenue for the quarter also fell 11% year-on-year to ?86 crore, while gross margins fell sharply to 33% from 56% during the year-ago quarter. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter also declined 88% from the quarter last year to ?3 crore. The company was left with an EBITDA margin of 4%, while during the same quarter last year, the company enjoyed an EBITDA margin of 29%.
Kerala Wayanad Landslide Updates: Eight dead, hundreds feared trapped amid rescue challenges
At least eight people, including two children, are confirmed to have died?and hundreds are feared trapped following a series of massive landslides in Kerala's Wayanad district early on Tuesday morning. The landslides occurred between 2 am and 4 am, primarily impacting the areas of Mundakai and Chooralmala.
The devastation has been extensive, with emergency responders facing significant obstacles in accessing the affected zones.
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MapMyIndia accuses Ola of data theft to build Ola Maps: Report
CE Info Systems, the parent company of MapMyIndia, has reportedly accused Ola of illicitly copying data to develop its recently launched Ola Maps interface.
The incident was first reported by Forbes India stating that the allegation centres on claims that Ola Electric has been caching and saving MapMyIndia’s data, co-mingling, and reverse engineering the licensed product obtained through an agreement in 2021."You have duplicated our client’s API (application programming interface) and SDKs (software development kits) from proprietary sources belonging to our client to build OLA Maps. It is firmly stated that our client’s exclusive data has been copied/derived by you to further your illegal motive and for your unjust commercial gains,” CE Info Systems said in a legal notice served to Ola Electric, which Forbes India claims to have reviewed.
PwC India and Microsoft India partner to enhance cyber incident response with Copilot AI
Financial advisory firm PwC India and Microsoft India, on Monday, announced to have formed a partnership to strengthen their incident response and recovery capabilities. This alliance is designed to counter the increasing sophistication of cyber threats by combining PwC India's expertise in incident management with Microsoft’s advanced technological solutions.
Terence Gomes, Partner at PwC India, in a company statement, said, “We are advancing towards a future where AI and machine learning are essential for optimising security operations. This partnership will reduce incident response times and efficiently handle large volumes of data, offering crucial insights to bolster enterprise security.”
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ITR filing deadline ends in two days: How to pay your taxes online now
ITR filing for FY23-24: As the deadline to file Income Tax Returns (ITR) for the financial year 2023-24 approaches, taxpayers must be trying their best to meet the deadline. With only two days left, understanding the different methods of paying taxes and the associated transaction fees is crucial to avoid last-minute hassles.
Investors set to receive 12% returns on Sovereign Gold Bonds maturing on August 5, 2024
The next tranche of Sovereign Gold Bond (SGB) scheme is set for redemption on August 5, 2024. These bonds, launched on August 5, 2016, have an eight-year holding period. Purchased at ?3,119 per gram, they offer substantial returns to investors.?Out of the 2.6 tons initially bought, 225.322 kg were redeemed after five years, leaving 2.75 tons still due for redemption.In September 2024, an additional 2.39 tons will be up for redemption, totalling nearly five tons of bonds coming due over the course of two months.?The tranche dated September 30, 2016, was bought at ?3,150 per gram.
As of today, investors have earned an annual interest rate of 2.5% over the past 8 years, and the price of gold has appreciated by 115%, reaching nearly ?6,800 per gram.
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Kriti Sanon-backed Hyphen targets ?500 crore revenue by 2027
Hyphen, a new-age skincare brand co-founded by PEP Technologies—the parent company of mCaffeine—and celebrity entrepreneur Kriti Sanon, has completed its first year of operations. Hyphen claims it is one of India's fastest-growing direct-to-consumer (D2C) brands, achieving revenue of Rs 100 crore in just 12 months.
Speaking to CNBC-TV18, Tarun Sharma, co-founder and CEO of Hyphen expressed confidence in scaling the brand to ?500 crore within three years, attributing this optimism to the brand’s strong performance indicators.
Ola Electric IPO price band set at ?72-?76 per share
As Ola Electric preps for ?6,145 crore IPO in the first week of August, founder and CEO Bhavish Aggarwal said electric vehicles are one of the most important megatrends that the auto sector has seen in the past 100 years.“We've seen very strong revenue growth, and I believe as a business and as an opportunity, we're just scratching the surface…100 years ago, automotive moved from coal engines to internal combustion engines. It's that level of a shift. We're just scratching the surface within scooters. The potential for electrification of India's automotive segment is very large,” he told CNBC-TV18 in an exclusive interaction.
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What is at stake with the increased Budget allocations to AP and Bihar
With the Union Budget proposals coming out with figures reflecting increased allocation of funds for Andhra Pradesh and Bihar, where the National Democratic Alliance is the governing coalition, politics around the decision is out at play.?The combined Opposition in Parliament is on a campaign to project the favours bestowed by the Centre in these two states, as a case of compulsions of coalition since the BJP is dependent on crucial support from the Telugu Desam Party and the Janata Dal (United)..., but what is at stake? Asks political analyst and writer K V Prasad.
We'll see you tomorrow with another 11:11