Elon Musk‘s aerospace company raised a whopping $75 billion by selling 555.6 million shares, or about 5% of its stock, in Friday’s much-awaited market debut. However, in the weeks ahead, SpaceX could fetch billions more!A mechanism, known as a greenshoe option, gives Morgan Stanley, the stabilisation agent for the listing, the right to buy additional…
Representative image (AI-generated) When most people hear the word ‘trillion’, it is difficult to grasp just how large that number really is.A million sounds huge. A billion sounds almost unimaginable. But a trillion is an entirely different scale.The question has taken centre stage after Elon Musk became the world’s first trillionaire, a milestone driven by…
Veteran banker Uday Kotak reacted to SpaceX’s blockbuster Wall Street debut, saying that the company’s massive valuation does not fit traditional ways of valuing businesses.In a post on X, Kotak wrote, “SpaceX IPO, listing, and beyond, is a true test for capitalism. The valuation does not fit any traditional matrix and is a huge bet…
A ruling by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has underscored the importance of understanding tax deduction at source (TDS) obligations when purchasing property.The case involved a Mumbai resident, who had jointly purchased a residential flat in the tony area of Haji Ali, worth Rs 1.9 crore with her husband. She…
MUMBAI: As talks of a peace deal in West Asia revived on Thursday night, sending Dow Jones up over 900 points and pulling Brent crude prices below the $90-per-barrel mark, the rub-off effect was felt on Dalal Street on Friday. Sensex, after rising more than 1,000 points in early trades, and dipping slightly mid-session, closed…
The carrier is also reevaluating plans to fly to new domestic and international destinations, pruning some routes and postponing launches at some airports, such as the new Noida International Airport, the people familiar with the matter said. Air India’s cowed ambitions follow a series of challenges that have pushed it deep into the red. Air…
Tata Motors chairman N Chandrasekaran MUMBAI: Tata Sons’ board met on Friday to approve the company’s financial results for the year ended March 31, 2026, recommending a dividend to equity shareholders, even as it kept chairman N Chandrasekaran’s reappointment off the agenda for a second consecutive time.“The board stuck to the agenda and there was…
NEW DELHI: Retail inflation based on consumer price index (CPI) inched up for the fourth consecutive month to 3.9% in May from 3.5% in April on account of acceleration in food prices, data released by NSO on Friday showed. The food index rose 4.8% in May, above 4.2% in the preceding month.Despite the staggered increase…
India’s efforts to build indigenous artificial intelligence models received a boost this week as Avataar AI unveiled Varya, a video generation model designed to better understand Indian cultural contexts while significantly reducing the cost associated with AI video creation.The Bengaluru-based startup, backed by Peak XV Partners and selected under govt’s India AI Mission, said the…
MUMBAI: In a world where people are increasingly relying on AI tools, companies have a new hiring challenge: AI-generated resumes. Firms are finding it difficult to select candidates for job roles from a flood of CVs that look alike, making soft skills more valuable than ever, said Nicholas Kirk, CEO at recruitment firm Michael Page.The…
