Vijay Mallya was barred by SEBI from trading and associating with any listed company for three years due to fraudulent activities involving trading shares of his own group companies through overseas accounts. An investigation revealed Mallya used Matterhorn Ventures to channel funds into the Indian securities market, violating regulatory norms. His appeal against a previous ban was also dismissed.
India’s foreign exchange reserves surged by $4 billion to reach $670.857 billion for the week ending on July 19, according to the Reserve Bank of India (RBI) on Friday. This rise follows an earlier jump of $9.699 billion, bringing the reserves to an all-time high of $666.854 billion for the week concluding on July 12.
IndiGo saw a profit of Rs 2,729 crore in Q1 FY 2024-25, despite a 12% decline from the previous year. Revenue increased by 17% to Rs 19,571 crore. CEO announced new initiatives for customer engagement. IndiGo’s cash balance was Rs 36,100.6 crore, with total debt of Rs 52,526.4 crore.
SK Hynix announced a $6.8 billion investment for its first chip plant in Yongin, South Korea. The plant will bolster AI semiconductor demand and contribute to SK Hynix’s growth. The site will also feature a research facility for testing domestic chip materials and equipment. The investment supports the company’s long-term growth strategy planned since 2019.
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