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Yesterday’s big news was about Byju Raveendran. The net worth of Byju Raveendra, the founder of the edtech company Byju’s, which is facing a financial crisis, has become zero. A year ago, that is on April 4, 2023, his net worth was $2.1 billion (about $17,545 million then). At the same time, gold once again reached its new all-time high. According to the IBJA website, 10 grams of gold became more expensive by 572 to 69,936.
Before tomorrow’s big news, today’s key events to keep an eye on…
- You can see an increase in the stock market today on Friday (April 5).
- The Reserve Bank of India (RBI) will announce the interest rates.
- This is the last day for Bharti Hexacom IPO.
- There was no change in the prices of gasoline and diesel.
Now for tomorrow’s big news…
1. Byju Byju founder Raveendran’s net worth has dropped to zero: A year ago it was Rs 17,545 crore, Forbes dropped him from the list of billionaires.
The net worth of Byju Raveendra, the founder of the edtech company Byju’s, which is facing a financial crisis, has become zero. A year ago, that is on April 4, 2023, his net worth was $2.1 billion (about $17,545 million then). This information was revealed in the Forbes Billionaires Index 2024.
It was said in a Forbes report that this time 4 people were removed from last year’s list, among them Raveendran was also included. BlackRock recently lowered Byju’s valuation to $1 billion. Its peak value in 2022 was $22 billion.
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2. Gold reached 70 thousand NIS for the first time: this year it can reach 75,000 NIS, silver also reached a peak of 79,063 NIS.
Gold hit its all-time high again on Thursday (April 4). According to the website of the Indian Bullion and Jewelers Association (IBJA), 10 grams of gold became more expensive by 572 to 69,936. However, at the close of trade, gold closed at Rs 69,902 up by Rs 538. So far this year, gold prices have risen by Rs 6,600 in just 3 months. On January 1, gold was Rs 63,302.
Silver also hit a new all-time high. At the close of trade, silver became dearer by Rs 1,743 to touch Rs 79,337 per kg. A day earlier it was Rs 77,594. Earlier, silver had touched an all-time high of Rs 77,073 on December 4 last year, i.e. in 2023.
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3. Sensex and Nifty hit all-time highs: There was a rise in the banking and IT sector, HDFC Bank was the top Nifty gainer.
On April 4, there was an increase in the stock market. During the trade, Sensex hit an all-time high of 74,501 and Nifty hit an all-time high of 22,619. However, later it fell slightly and the Sensex closed at 74,227 with a gain of 350 points.
At the same time, an increase of 80 points was recorded in Nifty, it closed at the level of 22,514. Out of 30 Sensex stocks, 21 saw an increase and 9 saw a decrease. HDFC Bank was the big Nifty gainer.
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4. Government petition against sale of Maggi noodles rejected: NCDRC ruled in favor of Nestle India, Maggi was banned for six months in 2015
The National Consumer Disputes Redressal Commission (NCDRC) dismissed the government’s 2015 petition against the sale of Maggi noodles in favor of Nestlé India Limited. FMCG company Nestlé gave this information in its April 4 stock exchange filing. In this case, the government has asked Nestlé for compensation of Rs 284.55 crore and damages of Rs 355.41 crore.
Nestlé said, “Union of India, Department of Consumer Affairs filed a complaint with NCDRC in 2015. It alleged that the company manufactured and sold defective and dangerous goods and Maggi noodles to the public. In doing so, the company was involved in unfair trade practices. For this reason, the government demanded compensation and damages from Nestlé. This demand of the Government has now been rejected by NCDRC on 2nd April 2024. a copy of which was received in the company on 3rd April.
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5. Ramesh Kunhikanan is included in the list of Forbes billionaires for the first time: provided an electronic system for Chandrayaan 3, the net worth reached 10 thousand crores
Ramesh Kunhikannan, founder and CEO of electronics maker Kaynes Technology, was included by Forbes on its 2024 billionaires list for the first time this year. He is at number 2481 on this list with a net worth of 1.2 billion dollars (about 10 thousand kroner).
In doing so, Keynes joined the list of the richest people in the world, which includes, among others, Elon Musk, Mukesh Ambani, Gautam Adani and Jeff Bezos. The 60-year-old Kunhikanan became a billionaire in August 2023 after the success of Chandrayaan 3.
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6. Tesla starts making cars for India: A company making a right-hand drive car in Berlin is expected to launch by the end of the year
Lan Musk’s electric vehicle (EV) company Tesla has started manufacturing right-hand drive cars for India at the Gigafactory Berlin. The company may bring the car to Israel by the end of this year. Hindustan Times gave this information in one of its reports.
Earlier on April 3, the British Financial Times reported that Tesla would send a team to India this month to look for a location for a $2 billion to $3 billion ($16,000 to $25,000) electric car manufacturing plant in the country.
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Also see who were the 10 richest people in the world yesterday…
Know the state of tomorrow’s stock market and gold and silver…
Know the latest price of gasoline, diesel and gas cylinders…
