BSE adds 1 crore investor accounts in 107 days to cross 8-crore mark
The Bombay Stock Exchange (BSE) has added 1 crore registered investor accounts between June 6 and September 21, taking the total to over 8 crore in 107 days. BSE MD and CEO Ashishkumar Chauhan said equity investments are gaining ground over last one-and-a-half years due to many reasons globally. The domestic market is also following this world trend, he added.
Zee Entertainment to merge with Sony India; Sony to invest $1.57 billion
The Zee Entertainment Enterprises Ltd on Wednesday said its board has given in-principal approval for its merger with Sony Pictures Networks India (SPNI). As part of the merger, Sony will invest $1.57 billion and will be the majority shareholder with 52.93% stake while ZEEL shareholders will hold 47.07% stake. Punit Goenka will be the MD and CEO of merged entity.
Paid just ₹52 crore in legal fees in FY 2020: Amazon amid reports of bribing officials
Amazon clarified that for the year ended March 31, 2020, the legal fee it paid was ₹52 crore from the total legal and professional expenses of ₹1,967 crore. Amazon’s clarification came after a report said Amazon allegedly paid ₹8,456 crore as legal expenses to maintain its presence in India during 2018-20. Amazon is reportedly investigating allegations of bribing Indian officials.
Complete shift to EVs to cost Japan 5.5 million jobs: Toyota President
Toyota President Akio Toyoda has said that Japan’s automotive industry risks losing 5.5 million jobs by 2030 by switching all cars to electric. “Japan is an export-reliant country. Thus, carbon neutrality is tantamount to an issue of employment,” Toyoda explained. “Some politicians are saying that we need to turn all cars into EVs…I don’t think that’s the case,” he added.
Dream11 posts ₹181 crore profit in FY20: Report
Dream11 parent Sporta Technologies has posted a net profit of ₹180.77 crore for FY20, as compared to a net loss of ₹87.8 crore in the year-ago period. This makes Dream11 one of the rare consumer-focused start-up unicorns in India that has recorded a profit. Dream11’s operational revenue grew to ₹2,070.4 crore in FY20.