Loom Co-Founder Vinay Hiremath Opens Up After $975 Million Sale: I Am Rich but Lost

In a significant revelation, North Korea and its hacker group Lazarus have been officially blamed for the $235 million hack of WazirX, India's largest crypto exchange.

The breach, which occurred in July 2024, led to a 45% loss of WazirX's crypto assets due to a security flaw in a multisig wallet. A joint statement from the US, Japan, and South Korea issued on January 14, 2025, warned the global crypto community about North Korea’s growing cyber threats. The three countries aim to prevent further thefts and halt North Korea’s illicit revenue flow used for its missile programs.

Vodafone Idea (Vi) has teamed up with HCL Software to enhance the performance of its 4G and 5G networks. The partnership involves using HCL Augmented Network Automation (HCL ANA), a self-optimizing platform powered by AI, to manage its multi-vendor network, which includes equipment from Ericsson and Samsung. This advanced technology helps Vi streamline network management, improve energy efficiency, and provide better services to customers. The collaboration also reduces dependency on specific vendors, leading to cost savings and more reliable, sustainable networks.

Stallion India Fluorochemicals Ltd will open its IPO on January 16, aiming to raise ₹199.45 crore. The price band is set at ₹85 to ₹90 per share. The offer includes a fresh issue of 1.78 crore shares (₹160.73 crore) and an offer-for-sale of 43.05 lakh shares (₹38.72 crore). Retail investors must bid for a minimum of 165 shares, worth ₹14,850. The IPO will close on January 20, with allotment details available on January 21. The company manufactures refrigerant and industrial gases, with key customers in refrigeration, pharmaceuticals, and automobiles. However, it faces risks from reliance on refrigerant gas sales and imports from China.

Aditya Birla Fashion's board has approved a ₹5,000 crore fundraise via a Qualified Institutional Placement (QIP) and preferential issue.

The company will raise up to ₹2,500 crore through QIP and issue ₹1,298 crore worth of shares to promoter Pilani Investment and ₹1,081 crore to Fidelity Group. The fundraising may include equity shares, warrants, and convertible securities. Currently, promoters hold a 49.25% stake in the company. Aditya Birla Fashion's stock has risen 17% in the last year, trading at ₹269.80.

A new report shows that China is trying to hurt India's economy by stopping important technologies and skilled workers from reaching India. The main target is India’s growing iPhone production, as Apple has been increasing its iPhone manufacturing in India. China, which was once Apple’s main production partner, wants to stop this. China is also blocking access to crucial technologies like solar panels and electric vehicle batteries, which India needs to grow its industries. These moves are seen as attempts to hold back India’s economic progress.

Reliance Industries is expected to announce Q3 FY25 financial results on January 16 . Analysts expect refining margins to range from $ 8.7 - 10.8 per barrel , driven by better ex - China supply - demand dynamics and a favourable cost base . However , PetChem margins are likely to remain under pressure due to unresolved supply and demand issues for olefins and certain aromatics . Jio ’s EBITDA is likely to surge 17 percent YoY and 4 percent QoQ on high ARPU , which is estimated to rise to Rs 203 - 205 due to tariff hikes , according to Elara Capital .

The Rs 698 - crore IPO of Laxmi Dental has seen 28.42 times subscription on Day 3 ( January 15 ) so far .The IPO received bids for nearly 25.5 crore shares , as against the offer size of 90 lakh shares . Before the IPO opened for subscription , the dental products company raised Rs 314.1 crore from several institutional investors via anchor book on January 10 . Investors can bid for a minimum of 33 shares , requiring an investment of Rs . 14,124 , and in multiples thereafter . , The shares of the company were trading with a grey market premium ( GMP ) of around 33 % at Rs 577 per share , as per data on Investorgain on January 15 .

Meta, the parent company of Facebook, Instagram, and WhatsApp, plans to reduce its global workforce by approximately 5%, equating to around 3,600 employees. CEO Mark Zuckerberg announced that the company will expedite the removal of underperforming staff, aiming for a 10% non-regrettable attrition rate. Affected U.S. employees will be notified by February 10, 2025, and will receive severance packages. This decision follows previous layoffs totaling 21,000 workers between 2022 and 2023, as part of Meta's ongoing efforts to enhance efficiency and focus on key technological advancements.

Gold prices in Delhi have surged to an all-time high of ₹81,000 per 10 grams as of January 13, 2025. The increase is driven by global economic factors, a weakening rupee, and strong demand during the ongoing wedding season. Jewellers report robust sales despite the steep prices, as gold continues to be a preferred investment and gift. The price rally reflects international market trends, where gold's safe-haven appeal has grown due to economic uncertainties.

In December, India's Wholesale Price Index (WPI) inflation rose to 2.37% year-on-year, up from 1.89% in November. This increase is mainly due to higher manufacturing costs, with manufacturing inflation reaching a 23-month high of 2.14%. Notably, 18 out of 22 manufacturing sub-sectors experienced price increases. Manufactured food items saw a significant rise, with inflation hitting a 32-month high of 9.7%. Conversely, sectors like non-metallic mineral products and basic metals recorded price declines.

Warren Buffett, the 94-year-old investment icon, has officially announced his son Howard Buffett as his successor to lead Berkshire Hathaway. Howard, a farmer and philanthropist, has been on Berkshire’s board since 1993 and is known for his strong ethical values. While he won’t be involved in day-to-day management, he will serve as a non-executive chairman, ensuring the company's stability. Warren highlighted Howard’s deep understanding of Berkshire's culture and his commitment to protecting its legacy, making him the perfect choice for the role.

Chinese scientists have simulated an operation targeting Elon Musk's Starlink satellite network, revealing potential vulnerabilities in the system. The simulation demonstrated that 99 Chinese satellites could approach approximately 1,400 Starlink satellites within 12 hours, potentially using lasers and microwaves for tracking and reconnaissance. This development underscores China's apprehensions about Starlink's military applications, especially following its use in the Russia-Ukraine conflict. The simulation highlights the intensifying militarization of space and the potential threats to global satellite networks.

Top Loser:

• HCL Technologies: Lost by 8.84%, closing at ₹1,813.55.

• Hindustan Unilever: Lost by 3.39%, closing at ₹2,367.95.

• Apollo Hospitals: Lost by 1.94%, closing at ₹6,706.85.

• Titan Company: Lost by 1.78%, closing at ₹3,322.50.

• Tata Consultancy Services: Lost by 1.35%, closing at ₹4,233.05.

Top Gainer: -

1. Adani Enterprises: Gained by 6.98%, closing at ₹2,380.55.

2. Hindalco Industries: Gained by 4.82%, closing at ₹590.90.

3. Adani Ports and Special Economic Zone: Gained by 4.73%, closing at ₹1,117.10.

4. Shriram Finance: Gained by 4.41%, closing at ₹544.10.

5. NTPC Ltd: Gained by 4.09%, closing at ₹310.40.

Global brands Coca-Cola, Dabur, and ITC are all set to make a splash at the Maha Kumbh 2025, the world’s largest religious gathering, expected to draw over 250 million devotees.

Coca-Cola plans to roll out experiential marketing initiatives and engage with millions through customized campaigns. Dabur is focusing on promoting its health and Ayurveda products to align with the spiritual vibe. ITC aims to boost its brand visibility with targeted campaigns. These brands view the event as a golden opportunity to connect with a massive and diverse audience, ensuring a lasting impression.

Rail Vikas Nigam Ltd (RVNL) shares have dropped over 24% from their October high of ₹199, closing recently at ₹150.

Analysts attribute the decline to profit-booking after the stock’s stellar 370% rally in 2023. RVNL's current valuation and technical indicators, like the Relative Strength Index (RSI), suggest the stock is hovering near oversold levels, which may trigger a rebound. However, a key support level is ₹140, and resistance is around ₹170. Investors await RVNL's Q3 results to assess its future growth prospects.

Adani Group stocks surged up to 19% as the market snapped a four-day losing streak. Adani Power led the gains, jumping 18.85% to Rs 535, followed by Adani Green Energy, which rose 13.67% to Rs 1,011.55.

Adani Energy Solutions climbed 13.01% to Rs 778, fueled by a strong Q3 FY25 update, highlighting a 29.7% expansion in its transmission network and improved collection efficiency at 102.57%. Adani Total Gas, Adani Enterprises, and others gained between 2% and 10%, reflecting market recovery and speculative overseas fundraising buzz.

Indian Railways is set to handle an estimated 40 crore pilgrims during Maha Kumbh 2025, with 5 crore expected on January 29 (Mauni Amavasya).

Over 3,000 special trains—4.5 times more than 2019—will run, including 706 long-distance and 1869 short-distance trains. To ensure smooth travel, 554 ticket counters (151 mobile) and 1176 CCTV cameras are operational across 9 stations in Prayagraj. A 12-language announcement system, 48 platforms, 23 holding areas for 1 lakh pilgrims, and Rs 5,000 crore in rail upgrades enhance services for this grand event.