What's next for IndusInd Bank shares after biggest single-day drop?; Jio announces tie-up with SpaceX for Starlink; 5G revolution at Kumbh & more
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Reliance Jio announces tie-up with SpaceX for Starlink
Reliance Industries' subsidiary Jio Platforms Ltd. on Wednesday announced a partnership with SpaceX, the aerospace company led by billionaire Elon Musk, to introduce Starlink's broadband internet services to its customers in India.
This agreement, which is subject to SpaceX receiving its own authorisations to sell Starlink in India, enables Jio and SpaceX to explore how Starlink can extend Jio's offerings and how Jio can complement SpaceX's direct offerings to consumers and businesses, according to a company statement.
What's next for IndusInd Bank shares after biggest single-day drop on record?
Shares of IndusInd Bank Ltd.,the Mumbai-based private lender, are witnessing extremely choppy moves on Wednesday, March 12, after witnessing their biggest single-day drop on record a day prior.
The stock fell as much as 7% in early trading before staging a sharp recovery from the lows. The stock is still oscillating between gains and losses. It must be noted that the stock is in the F&O ban, which means no new positions can be created in the stock.At the lows on Wednesday, IndusInd Bank's market capitalisation had briefly dropped below the mark of ?50,000. Tuesday's record drop had resulted in an erosion of close to ?20,000 crore in IndusInd Bank's market capitalisation.?
JD Vance to visit India later this month for his second foreign trip as US VP: Report
US Vice President JD Vance is set to travel to India later this month, marking his second foreign trip ever since he took charge in the Donald Trump government. According to a report with Politico, Vance will be accompanied by Second Lady Usha Vance.
Vance marked his debut foreign visit to France and Germany last month. His first foreign trip was marked by a fiery speech at the Munich Security Conference in Germany, where he slammed European governments for their handling of illegal migration, ignoring religious freedoms, and overturning elections.
Meet Anju Rathi Rana, India's first woman Union Law Secretary
Anju Rathi Rana has created history by becoming the first woman to be appointed as the Secretary of the Department of Legal Affairs of the Ministry of Law and Justice.
Rana, an Indian Legal Service officer, will hold the position for a maximum of two years from the date she assumes charge. She may also be asked to step down or move to a different position before the two years are completed. She succeeds IAS officer Niten Chandra. The position had been lying vacant for a few months. Born on April 8, she completed her Bachelor of Laws from DAV College, Muzaffarnagar, and her Master of Laws from Meerut College. She has a PhD in Law from MDU Rohtak.In 1994, she worked as an advocate at the District Court, Muzaffarnagar, for a year, assisting the senior advocate in drafting briefs, preparing counter replies, and writing statements in civil, criminal, and labour cases.
#TechTalks??
Study finds 53% of Indians experience sleep issues without consistent bedtime routine
Ahead of World Sleep Day, a study conducted by YouGov and Amazon Alexa reveals that 53% of respondents face sleep-related issues when they do not follow a consistent bedtime routine. The survey, conducted across ten Indian cities, explores the sleep habits of Indian households, showing that 54% of respondents reported improved sleep quality after adopting a regular bedtime routine.
5G revolution at Maha Kumbh: How operators ensured speed, reliability and real-time connectivity
The Maha Kumbh Mela in Prayagraj, Uttar Pradesh, was not just a spiritual gathering but also a massive stress test for India’s 5G network infrastructure. With over 66 crore attendees converging on the holy site between January 13 and February 26, the event posed unprecedented challenges for telecom operators. Amid this surge, Jio Infocomm and Swedish telecom giant Ericsson successfully handled 2 crore voice calls and 40 crore data service requests on peak days.
5G vs 4G at the Maha Kumb
The event showed 5G’s clear superiority over 4G, despite high congestion levels. According to Speedtest Intelligence data by Ookla, 5G download speeds fluctuate but remained nine times faster than 4G even at their lowest point.5G speeds: Started at 259.67 Mbps in early January, dropped to 151.09 Mbps on January 26 (peak congestion), but recovered to 206.82 Mbps by February 23.4G speeds: Consistently lower, ranging between 13.38 Mbps (January 19) and 21.68 Mbps (February 23).
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#PersonalFinance??
EPFO's new rules for EDLI death benefits: What changes for families
The Employees' Provident Fund Organisation (EPFO) has recently introduced key changes to the Employees' Deposit Linked Insurance (EDLI) scheme, offering better financial security to families of deceased EPF members.
The updates aim to extend coverage and increase payouts.
Key changes in EDLI death benefitsCoverage for non-contributory period deathsPreviously, if an EPF member died after a non-contributory period, their family often lost eligibility for benefits.Under the new rules, families can now claim EDLI benefits even if the deceased had a non-contributory period before passing.This change recognises employment continuity and ensures financial relief.
Edelweiss MF launches Low Duration Fund
Edelweiss Mutual Fund has launched the Edelweiss Low Duration Fund, an open-ended debt scheme that invests in debt and money market instruments with a Macaulay duration of 6 to 12 months.
The New Fund Offer (NFO) will remain open from March 11 to March 18, 2025. Investors can subscribe with a minimum investment of ?100, and additional investments can be made in multiples of ?1.The fund aims to generate income by investing in high-quality short-term debt and money market securities. It offers low to moderate risk, making it suitable for investors seeking stability, liquidity, and short-term returns.
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India’s startup investment jumps to $13.7 billion, fuelled by IPO boom: Bain & Co-IVCA Report
India’s VC market rebounded in 2024, with investments surging to $13.7 billion, led by AI, consumer tech, and SaaS. IPO exits dominated, while BFSI and retail saw strong funding. Despite a fundraising dip, investor confidence remains high, driven by policy reforms and rising liquidity, positioning India for sustained startup growth in 2025, according to the India VC Report 2025 by Bain & Company and the Indian Venture and Alternate Capital Association.
FluxGen secures ?28 crore pre-Series A funding to expand across India and Middle East
Climate tech company FluxGen has raised ?28 crore in a pre-Series A funding round, a move that will fuel its expansion across India and the Middle East."We already have over 100 customers - companies like Tata Group, Aditya Birla, Microsoft. So, with this fundraise we want to scale across the country and across the Middle East, which is one of our priority geographies, where we will expand," said Ganesh Shankar, Founder & CEO of FluxGen.
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