Flipkart is gearing up for its annual Freedom Sale, set to begin on August 2 with early access for Plus users on August 1. The sale will feature discounts on a variety of products, and Plus members will receive an additional 10% discount. Customers can expect up to a 78% discount on select products, and eligible bank card holders can avail an extra 15% discount or cashback. This sale will be followed by similar offerings from Amazon and other platforms in the upcoming festive season.
Tata Motors is in talks to purchase the truck unit of Italy's Iveco Group, according to reports. This news caused the company's stock to plummet by nearly 4%, as it continued to trade below important moving averages. On the bright side, the stock has performed well over the past five years, but has seen a recent decline due to the current year's market conditions. While Tata Motors plans for future growth, Jaguar Land Rover, its subsidiary, is cutting hundreds of managerial positions to better align with their business strategy.
The sudden death of Sona Group founder, Surinder Kapur's son, Sunjay Kapur, has sparked a controversy within the family that threatens to destabilize the company. Sunjay's widow, Rani Kapur, has claimed to be the majority shareholder and has accused unnamed individuals of trying to seize control of the company. However, the company has issued a statement refuting her claims and stating that she has had no role in the company since 2019. The controversy has had a negative impact on the company's share prices and has raised concerns among shareholders.
Tata Motors is in advanced talks to acquire a majority stake in Italian truck manufacturer Iveco from the Agnelli family's investment company, Exor. The deal, if finalized, will be the second-largest acquisition by Tata Motors and its biggest to date. The company may face fewer regulatory hurdles as it plans to only acquire the non-defense segment of Iveco's business. Morgan Stanley, Goldman Sachs, and Clifford Chance are involved in the negotiations.
Close to two decades after acquiring Jaguar Land Rover, Tata Motors is reportedly in advanced discussions to acquire avid truck maker Iveco from the Agnelli family for a potential transaction of $4.5 billion. This deal could significantly boost Tata Motor's truck business, providing it with access to advanced technology and major developed markets. The company has already announced plans to split its CV and Passenger Vehicle businesses into separate listed entities.
With the ongoing family drama over the control of Sona Comstar, Rani Kapur, the matriarch of the Kapur family, has finally broken her silence. She expressed her need for closure and reminded everyone of the family's legacy. However, the company has retaliated with a cease-and-desist letter, accusing her of causing harm to their reputation and financial interests. The dispute has now escalated to the possibility of legal action from both sides.
A 20-year-old engineering student, Manan Anand, is being actively pursued by Jammu and Kashmir police after he allegedly attempted to murder 68-year-old businessman Kamal Dutt with his SUV on Sunday afternoon. The incident, caught on CCTV and circulating on social media, shows the elderly man being hit by Anand’s Thar SUV and being seriously injured. Shockingly, footage also reveals passersby standing by and not coming to Dutt’s aid. Anand’s father, Rajinder Anand, has been detained and the vehicle seized, with additional charges of attempt to murder being levied against Manan Anand after the investigation saw footage.
Former Director of Source to Pay, Gary Rooney, is appealing a record unfair dismissal award of €550,131 against X, the company previously known as Twitter. The ruling was made last August by the Workplace Relations Commission (WRC) after Mr. Rooney failed to respond to an email from X owner Elon Musk, which asked employees to confirm if they wanted to stay with the company. At the Labour Court hearing, Mr. Rooney expressed his uncertainty and stress over the changes brought on by Mr. Musk's takeover of the company.
Expectations for a lower opening in the stock market on Tuesday are high, with the Gift Nifty indicating a subdued start for the benchmark indices. The recent trend has been a bearish one, with the market facing selling pressure due to uncertain trade agreements, weak corporate earnings, and heavy foreign investor outflows. As the earnings season picks up pace, analysts predict stock-specific movements, with certain sectors, such as realty, likely to face significant losses. Key earnings releases and IPOs, along with preferred trades and short picks, add to the anticipated market activity.
The Board of Control for Cricket in India (BCCI) has announced new terms and conditions for copyright protection, solidifying their control over the use of their content. With these new policies, the BCCI hopes to crack down on any unauthorized use of their material. Along with this announcement, the BCCI also released their privacy and policy guidelines to ensure the privacy of their content. As the BCCI continues to establish itself as a major player in the world of cricket, these measures will further cement their authority.