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Big news from 2024: the National Stock Exchange topped the global IPO fundraising charts, leaving its peers behind. And hey, Bitcoin just turned 16, still stirring up debates as always!
Hindustan Unilever is making waves with talks of a ₹3,000 crore acquisition of Minimalist, underlining the booming direct-to-consumer trend. On another front, Piyush Goyal ruled out any more subsidies for EV makers, while India doubled down on the importance of skilled professionals in its H-1B visa discussions with the US.
Globally, South Korea decided to drop its arrest bid against impeached President Yoon Suk Yeol. Meanwhile, Kotak Mahindra Bank announced that Milind Nagnur, its CTO and COO, has stepped down.
Stay tuned as we delve deeper into these stories and more in today’s Top 10@10.
Nifty 50, Sensex fall further as technology, financial sectors decline
The Nifty 50 and Sensex extended their losses on Friday, reversing earlier gains to hit their intraday lows reached at the start of the session, as information technology and financial sector stocks continued to decline. However, the fall was partially offset by gains in consumer and oil stocks.
The Nifty 50 slipped 184 points to end at 24,004. The Sensex also closed at 79,223, down 721 points. The indices, however, rose 1% each during the week, driven by strong performances in select sectors. The Midcap Index outperformed, gaining nearly 2%, while the Nifty Bank ended in the red, down 0.6%.
Also, Oil has broken out of a tight trading range that it’s been stuck in for months, with a breach of a key technical threshold and shrinking US crude stockpiles helping to drive prices higher.
NSE helps companies raise $19.5 billion in 2024, higher than every global market
The National Stock Exchange (NSE), has helped 268 companies raise ₹1.67 lakh crore through the primary markets in 2024, the exchange said on Friday, January 3.
India had a total of 268 IPOs last year, of which 90 were mainboard and 178 were SME IPOs.
The number of IPOs on the NSE is higher than China, Hong Kong, and Japan put together, who had 101, 66 and 93 IPOs respectively in the year gone by.
16 Years of Bitcoin: Satoshi’s shadow, billion-dollar scams, and an uncertain future
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Since its creation in 2009 by the elusive Satoshi Nakamoto, Bitcoin has been a magnet for both fervent advocates and fierce critics. Its meteoric rise and tumultuous journey are punctuated by a series of controversies that have left an indelible mark on the financial world.
Bitcoin’s pseudonymous nature quickly caught the attention of the underworld. The infamous Silk Road, an online black market, became synonymous with Bitcoin-facilitated illegal transactions, from drug trafficking to illicit services. The platform’s eventual takedown by the FBI in 2013 only scratched the surface of Bitcoin’s association with the dark web.
HUL in talks to acquire consumer skincare startup Minimalist for ₹3,000 crore
Hindustan Unilever (HUL) is in advanced discussions to acquire the direct-to-consumer skincare startup Minimalist for up to ₹3,000 crore, according to media reports. If finalised, the acquisition would strengthen HUL’s presence in the Indian skincare market and align with its recent expansion into the health and wellbeing sector.
“In line with our business strategy, on an ongoing basis, we evaluate various strategic opportunities for the growth and expansion of our business. We will make appropriate disclosures whenever there is any material development that requires disclosure under applicable laws,” a spokesperson for HUL told CNBC-TV18.
Govt & EV companies believe new subsidies not needed: Union Minister Piyush Goyal
Commerce Minister Piyush Goyal has said that both the Government & the industry believe no new incentives or subsidies are needed for the industry after meeting key players in the EV space.
Adani US SEC and Criminal cases not combined, only assigned to same judge: Exclusive
The US Securities and Exchange Commission and Eastern District of New York criminal cases against the Adani Group are not “combined” but have just been placed before one judge in a US court for efficiency purposes.
CNBC-TV18 has reviewed the orders passed by a US court on the 12th and 18th of December, reassigning the cases to a single judge.
These cases have also been placed before one single judge to avoid conflicting schedules along with the efficiency angle.
H-1B Visa Row | India says skilled professionals key to ties with US
Ministry of External Affairs (MEA) Spokesperson Randhir Jaiswal on Friday, January 3, stressed the crucial role of skilled professionals in strengthening the India-US economic partnership.
His remarks come amidst growing scrutiny of the H-1B visa programme, which enables US companies to hire foreign workers in specialised fields.
Kotak Mahindra Bank’s CTO and COO Milind Nagnur resigns
Kotak Mahindra Bank in an exchange filing on Friday, January 3, announced the resignation of Chief Technology Officer (CTO) and Chief Operating Officer (COO), Milind Nagnur. The resignation will be effective from the close of business hours on February 15, 2025.
Nagnur cited personal reasons for his departure, including plans to relocate to the United States to care for family members. In his resignation letter, he expressed gratitude to the bank’s leadership and colleagues for their support during his tenure.
Trump calls for action on border policy, slams Biden administration in first reaction post victory
US President-elect Donald Trump took to social media with a series of fiery tweets, lambasting the Biden administration’s policies, particularly on border security, and accusing federal agencies of corruption and incompetence.
His remarks have reignited debate about national security, leadership, and economic strategy under the current administration.
Trump began by describing the United States as “a disaster” and “a laughing stock all over the world,” pointing to what he called “open borders” and “ineffective leadership” as the root causes.
South Korea Authorities Calls Off Arrest of Impeached President Yoon
South Korean investigators have suspended efforts to enforce an arrest warrant for embattled President Yoon Suk Yeol on Friday, hours into a standoff in which authorities tried to detain the leader following his short-lived martial law declaration.
Some 80 police and investigators had entered the presidential compound in Seoul in the early morning to take Yoon into custody for questioning, the CIO said – deepening what had already been a weeks-long showdown with the defiant and embattled leader.
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