| Company | Value | Change | %Change |
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130% returns in six sessions — MobiKwik shares gain after equity worth ₹118 crore changes hands
Shares of One MobiKwik Systems Ltd., parent company of payment solutions provider MobiKwik surged another 6% on Thursday, December 26, after a block deal that took place in the stock. As many as 18.6 lakh shares or 2.4% of the total equity of MobiKwik changed hands in a block deal that took place in the stock on Thursday.
The shares changed hands at an average price of ₹635 per share, taking the total transaction value to ₹118 crore.
The stock surged as much as 6.5% post the block deal. Buyers and sellers in the transaction are not officially known.
Shares of One MobiKwik Systems are trading 5% higher at ₹638.35. The stock made an intraday high of ₹648.3.
Outlook 2025: Will the MFI pain continue into the new year?
The rural economy faced significant pressure throughout much of Calendar Year 2024, especially in the microfinance (MFI) segment. This sector is expected to encounter continued challenges moving into 2025.
Let’s look at the numbers, the assets under management (AUM) growth, or the loan growth, which was more than 26% year-on-year last year, has declined to less than 9.5% so far in 2024.
Ola Electric expands network by fourfold to 4,000 stores nationwide
Ola Electric has significantly expanded its presence in India, increasing its network to 4,000 stores, a four-fold rise from its previous reach. The company has opened more than 3,200 new stores, each co-located with service centres, to support the growing demand for electric vehicles (EVs) across the country.
The EV maker had 800 company-owned stores as of December 2, 2024. Ola Electric’s Chairman and Managing Director, Bhavish Aggarwal, had announced a target of expanding the network by over four times and have 4,000 stores in India with just 19 days from early December.
Read More : Ola Electric Mobility share price nears ₹100 after store count expands to 4,000
#Economy
Will there be a global recession in 2025?
As 2025 draws closer, fears of a global recession are growing, with several major economies showing clear signs of strain. A recession, characterised by two consecutive quarters of gross domestic product (GDP) contraction, reflects a significant decline in economic activity.
In Europe, Germany, the region’s largest economy, is under significant pressure. High energy prices, geopolitical tensions, and potential trade disruptions with the US and China are weighing heavily on its industrial sector, heightening fears of a slowdown.
The UK is on the brink of recession, with revised GDP figures showing zero growth in the third quarter of 2024, signalling stagnation.
#FromTheCentre
Govt invites views for inclusion of free food grains in new CPI series
The government is deliberating whether free items distributed under the Public Distribution System (PDS) should be incorporated into the basket for calculating the Consumer Price Index (CPI), a move that could significantly alter the inflation calculation methodology in the future.
This proposition is part of a discussion paper released by the Ministry of Statistics and Programme Implementation (MoSPI) as it works on a new CPI series with 2024 as the base year. Stakeholders have been invited to provide their feedback by January 15, 2025, with the updated CPI expected to roll out in the final quarter of FY26.
Govt announces major reshuffle with key appointments across departments: Here’s who they are
The Government of India, On Wednesday, announced a significant reshuffle of senior Indian Administrative Service (IAS) officers, with multiple key appointments made across several important departments.
Rachna Shah, IAS, who was serving as the Secretary of the Ministry of Textiles, has been appointed as the new Secretary of the Department of Personnel and Training (DoPT). This department is responsible for managing India’s civil services.
Shah succeeds Neelam Shammi Rao, IAS, who moves to the Ministry of Textiles, taking over from Shah in this role. Shah, a graduate in Business Economics from Delhi University, has extensive experience, having worked in several important ministries, including Science and Technology and Corporate Affairs.
#PersonalFinance
EPFO extends UAN activation deadline for ELI scheme to Jan 15: Here’s how to do it
The Employees’ Provident Fund Organisation (EPFO) has extended the deadline for Universal Account Number (UAN) activation and Aadhaar seeding of bank accounts under the Employment Linked Incentive (ELI) scheme to January 15, 2024. The previous deadlines were December 15 and November 30, 2023.
Employers should prioritise UAN activation and Aadhaar linkage for employees hired in the current financial year, focusing first on the latest recruits.
#NewsInNumbers
Countries with most tea drinkers
Daily Data: Countries with the most tea drinkers in the world
#Buzzing
The Satanic Verses returns to Indian bookshelves after 36-year ban
British-Indian novelist Salman Rushdie’s controversial book The Satanic Verses has quietly returned to India 36 years — to one bookstore, to be specific — after it was banned by the Rajiv Gandhi government.
A ”limited stock” of the book — which caused a furore against its author and content that was deemed blasphemous by Muslim organisations the world over — has been selling at Bahrisons Booksellers in the national capital for the past few days.
”It has been a few days since we got the book, and the response has been very good so far. The sale has been good,” Bahrisons Booksellers’ owner Rajni Malhotra told PTI.
The book, priced at ₹1,999, is only available at Bahrisons Booksellers stores across Delhi-NCR.
#Sports
Champions Trophy 2025: India vs Pakistan on February 23; check full fixture list
Pakistan to host the 2025 Champions Trophy as ICC announced the schedule for the cricket showpiece event. India refused to travel to Pakistan over security concerns which forced ICC to delay its announcement for more than a month.
India will face their arch-rival Pakistan in the marquee group game in Dubai on February 23. Pakistan will host at least 10 games in Rawalpindi, Karachi and Lahore. India will play all three Group A matches against Bangladesh, Pakistan and New Zealand in Dubai. If India qualifies for the semifinals and the final, those games will also be staged in Dubai.
“The ICC is delighted to release the schedule marking the tournament’s much-anticipated first return since 2017,” ICC chair Jay Shah said in a statement.
“The thrilling competition, in which eight teams battle it out to claim the iconic white jackets, will provide fans with 15 matches of unmissable entertainment.
#Entertainment
Baby John movie review: An uninspired and jarring misfire
The charming Hindi film heartthrobs of the 2010s are working overtime to reinvent themselves as massy action heroes a decade later. If Animal marked Ranbir Kapoor’s transition from boyhood to manhood and Chhaava will do the same for Vicky Kaushal, then Baby John serves as Varun Dhawan’s rite of passage.
Directed by Kalees, Baby John is the Hindi remake of Atlee’s 2016 Tamil revenge cop-drama Theri, which starred Vijay, Samantha Ruth Prabhu, and Amy Jackson. A successful adaptation should aim to reimagine the source material, offering a fresh take and providing an original experience, even if the audience is familiar with the core story. Unfortunately, Baby John does not achieve this. At 164 minutes, it is a dull and tonally inconsistent misfire.
We’ll see you tomorrow with another edition of 11:11
