Author: News Desk

At the seventh meeting of the State-Level Investment Promotion Board (SIPB), Andhra Pradesh cleared 19 major projects with a total investment value of approximately ₹26,000 crore. These include a ₹8,010 crore renewable energy project in Kadapa by Adani Renewable Energy, and hydro energy investments worth ₹10,900 crore across several districts by Adani Hydro Energy Four and Adani Hydro Energy One. Collectively, Adani’s energy ventures are expected to generate 10,500 jobs in the state. Cognizant Gets Land in Visakhapatnam for IT Campus IT giant Cognizant Technology Solutions will invest nearly ₹1,583 crore to set up a major campus in Visakhapatnam. In…

Adani Power Ltd has received approval from the National Company Law Tribunal (NCLT) to acquire Vidarbha Industries Power Ltd (VIPL), a bankrupt firm that was once a subsidiary of Anil Ambani-led Reliance Power Ltd. On June 18, the tribunal cleared Adani Power’s ₹4,000 crore resolution plan after it received unanimous support from secured creditors earlier in February. Details of the Resolution Plan Vidarbha Industries Power Ltd owns a 600-megawatt thermal power plant in Nagpur and had admitted liabilities amounting to ₹6,753 crore. Under the approved resolution plan, Adani Power will acquire the company by paying ₹4,000 crore. The Committee of…

Former Union minister Dayanidhi Maran has levelled serious allegations against his elder brother and Sun TV Network chairman Kalanithi Maran. In a legal notice, Dayanidhi claims Kalanithi unlawfully acquired 12 lakh shares of Sun TV Private Limited in 2003 for just ₹1.2 crore, even though their actual market value at the time was around ₹3,500 crore. He alleges this was done without proper valuation, shareholder consent, or fair consideration. Manipulation During Family Crisis According to the notice, Kalanithi held no shares in the company until September 15, 2003. However, during the period when their uncle Murasoli Maran was critically ill,…

India is undergoing a major transformation in its wealth ecosystem, led by a fresh wave of under-40 entrepreneurs who are disrupting traditional industries through innovation and digital-first approaches. According to the newly released ‘360 ONE Wealth Creators List’—a collaboration between 360 ONE Wealth (WAM) and CRISIL—over 2,000 Indian individuals have collectively built a wealth pool nearing ₹100 trillion. Among them, 143 are active wealth creators under the age of 40, showcasing a strong presence in public markets and tech-driven ventures. Digital Innovation at the Core A common factor among these young wealth creators is their active involvement in their businesses,…

Mammootty, born Muhammad Kutty Panaparambil Ismail, is more than a veteran of Indian cinema—he is an enduring icon with a career spanning over 50 years since his 1971 debut. At 72, the Malayalam superstar continues to hold a firm grip on the industry with timeless roles, a massive fan following, and an inspiring lifestyle. Net Worth and Annual Earnings Mammootty’s current net worth stands at approximately ₹340 crore. He earns around ₹50 crore annually, making him one of the highest-paid actors in Malayalam cinema. His income comes not only from films but also from brand endorsements and business ventures. Eco-Friendly…

Tesla is set to make its official entry into India this July by opening showrooms in Mumbai and New Delhi. The company’s first retail outlet will be launched in Mumbai by mid-July, followed by another in the capital. This move comes as Tesla seeks to expand into new markets amid a slowdown in sales across Europe and China. Model Y Imports from China Tesla has imported its first batch of vehicles into India — Model Y rear-wheel drive SUVs manufactured at its Shanghai plant. These vehicles are part of Tesla’s global best-selling EV lineup. Alongside the cars, Tesla has also…

Physics Wallah (PW), once known mainly for physics coaching, now offers a wide range of academic and competitive exam preparation programs. From Classes 7 to 12 and entrance exams like IIT-JEE, NEET, UPSC, NDA, CA, IIM, and more, the platform serves over 36 million online users, with 15 million on its app. National Footprint and Unicorn Status Founded by Alakh Pandey and co-led by Prateek Maheshwari, PW has grown into a unicorn with a valuation crossing $1 billion. It has filed draft papers for an IPO worth around $500 million and is backed by investors like Hornbill Capital, Westbridge, GSV…

Star batter Tim David, who played a key role in Royal Challengers Bengaluru’s (RCB) successful IPL 2025 campaign, has now joined Preity Zinta’s Caribbean Premier League (CPL) team, St Lucia Kings. He was picked by the franchise in the CPL 2025 draft held on Tuesday. Preity Zinta’s Ownership Across Leagues Preity Zinta, well-known Bollywood actor and entrepreneur, is a co-owner of both the IPL team Punjab Kings and CPL team St Lucia Kings. Her fellow co-owners include Ness Wadia, Mohit Burman, and Karan Paul. St Lucia Kings Are CPL Title Holders St Lucia Kings, co-owned by the same group behind…

Gokulam Group chairman and renowned entrepreneur Gokulam Gopalan has invested Rs 25 crore in Travlounge, a Kerala-based highway amenities startup. Travlounge offers clean restrooms, sleeping pods, and beverage counters for highway travelers. Startup’s Early Support and GrowthTravlounge was initially backed three years ago by Abdul Azeez Chovanchery of AZCCO Global with a seed investment of Rs 8 crore. It is promoted by Kozhikode-based Beacon Group. The startup already has functional outlets at Walayar (Palakkad) and Adimali (near Munnar). Focus on National ExpansionCo-founder P.T. Safeer said the aim is to expand Travlounge lounges across India, making premium roadside services more accessible…

India added 39,000 new dollar millionaires in 2024, a 4.4% rise compared to the previous year, according to the UBS Global Wealth Report. This puts India in fourth place globally for millionaire growth, behind Turkey, the UAE, and Russia. With a total of 917,000 millionaires, India now surpasses Brazil, Russia, and South Africa. However, China remains far ahead with over 6.3 million millionaires. Wealth Inequality Continues to Rise Despite the increase in high-net-worth individuals, India ranked fifth globally in the rise of income and wealth inequality since 2020, as measured by the Gini coefficient. The report places India among the…