Friday, August 28
From ornate European-style interiors and spiral staircases to vintage lighting and a trove of luxury items, the Enforcement Directorate's raid on the Lucknow home of a dismissed police constable arrested in the codeine-laced cough syrup case has left officials stunned.The Special Task Force of Uttar Pradesh Police arrested constable Alok Pratap Singh, who has been dismissed from service twice, on December 2.His name cropped up during the interrogation of another accused, Amit Kumar Singh alias Amit Tata, in the ongoing probe into an illegal codeine-laced cough syrup racket. He is currently lodged in Lucknow jail.The two-storey mansion sprawls over nearly 7,000 square feet in Ahmamau near the Lucknow-Sultanpur highway. Towering pillars line the facade, ornate railings adorn the wide balconi
Gurugram-based Shiprocket, which offers shipment and supply chain services to direct-to-consumer (D2C) brands selling online, has filed an updated draft red herring prospectus (UDRHP) for a Rs 2,342 crore initial public offering (IPO).Shiprocket is looking to raise Rs 1,100 crore in fresh capital, while investors, including Tribe Capital, Arvind Ltd, March Capital and Bertelsmann, are selling shares through the offer-for-sale (OFS) component. Founders Saahil Goel, Gautam Kapoor and Vishesh Khurana are also partially offloading their stakes in the IPO.Lightrock is selling the biggest chunk in the OFS portion of Rs 258 crore, followed by textile maker Arvind at Rs 161 crore. Founders Goel and Kapoor will make Rs 144 crore each from their stake sale, while Khurana, who moved on from Shiprocke
Market movements during the week were largely shaped by macroeconomic developments and evolving global cues. On the domestic side, the rupee slid to a fresh record low of 90.56 against the US dollar, weighing heavily on risk sentiment. Some respite, however, came after the US Federal Reserve announced a 25-basis-point rate cut, while optimism surrounding progress in India–US trade discussions helped limit further downside.Auto retail activity remained steady, with November registrations rising 2% year-on-year across passenger vehicles, three-wheelers, commercial vehicles, and tractors. Meanwhile, disclosures regarding public sector banks writing off Rs 6.15 lakh crore of loans over the past five-and-a-half years kept the financial space in focus.Foreign Institutional Investors continued
The Indian Navy will commission its second MH 60R helicopter squadron, INAS 335 (Ospreys), on December 17 at INS Hansa, Goa, in the presence of Adm Dinesh K Tripathi, the Chief of the Naval Staff, according to a release. The occasion will mark a pivotal moment in the Indian Navy's continued efforts towards modernisation and capability enhancement.— indiannavy (@indiannavy) The advanced weapons, sensors and avionics suite make the helicopter a versatile and capable asset for the Indian Navy, offering enhanced capabilities to address conventional as well as asymmetric threats, the release stated. The aircraft has been fully integrated with fleet operations and has proven its worth on numerous occasions. The Indian Navy will receive a significant fillip in its integral aviation capa
JioStar’s streaming platform JioHotstar is intensifying its South India push, scaling up investments in regional originals, long-running formats and deep localisation as post-merger momentum accelerates.The platform has unveiled its largest South-focused slate yet, commissioning 25 new titles across Tamil, Telugu and Malayalam, backed by a Rs 4,000 crore investment over the next five years. Formed after the merger of Disney+ Hotstar and JioCinema, the platform has crossed over a billion downloads on the Google Play Store.Speaking to ET, JioStar Head of SVOD and Chief Marketing Officer Sushant Sreeram, and Head of Entertainment South Krishnan Kutty, said the last ten months have validated the company’s long-term bet on regional storytelling and habit-forming formats.“We’ve had a lot
