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ED freezes ₹520 crore in WinZO, Gameskraft Assets

The Enforcement Directorate (ED) has frozen over ₹520 crore in assets linked to real-money gaming companies WinZO and Gameskraft.

The move comes after a week-long investigation under the Prevention of Money Laundering Act (PMLA). Around ₹505 crore of WinZO’s assets, including bank balances, fixed deposits, bonds, and mutual funds, have been frozen. Gameskraft and its Poker arm Pocket52 had about ₹18.75 crore in eight bank accounts, which are also attached.

The probe followed complaints about cheating, blocked accounts, misuse of PAN cards, and impersonation. The ED continues to investigate the firms’ financial dealings.

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Kwality Wall’s India appoints new board ahead of HUL split

Kwality Wall’s India has announced a new board as it prepares to separate from Hindustan Unilever (HUL) on December 1.

The board includes Chitrank Goel as Deputy Managing Director and Executive Director, and Prashant Premrajka as Chief Financial Officer. Four independent directors, Ravi Pisharody, Madhavan Hariharan, J.V. Raman, and Shukla Wassan, along with non-executive director Ritesh Tiwari, will provide oversight.

Hindustan Unilever says the new team, with experience in consumer goods, finance, and corporate strategy, will lead Kwality Wall’s India through its transition into a standalone, publicly listed company.

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Maruti Suzuki invests ₹2 crore in Ravity startup

Maruti Suzuki has invested ₹2 crore in Bengaluru-based Ravity Software Solutions, acquiring a 7.84% stake through its Innovation Fund.

Ravity focuses on connected mobility intelligence, leveraging AI and analytics to convert vehicle data into actionable insights for automakers and fleet operators. The startup’s solutions aim to enhance operational efficiency, vehicle performance, and the overall customer experience.

Maruti Suzuki’s CEO, Hisashi Takeuchi, said the investment reflects the company’s commitment to innovation and improving vehicle ownership through smart, data-driven solutions.

This deal also signals Maruti’s growing focus on digital transformation and connected mobility in India’s automotive sector.

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14,000 Amazon employees laid off, engineers bear brunt

Amazon is cutting 14,000 corporate jobs, its largest layoff ever, with engineers hit hardest, accounting for nearly 40% of cuts in key states like New York, California, and Washington.

Mid-level software developers (SDE II) were the most affected, playing a critical role in building and delivering products.

The cuts follow strategic shifts, including scaling back gaming projects and visual-search AI initiatives, as CEO Andy Jassy pushes for faster, leaner operations. Impacted employees get 90 days to apply internally, with severance, career support, and continued health benefits.

This reflects a broader tech trend of AI-driven workforce optimization in 2025.

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Sony PS5 Black Friday sale offers up to ₹10,000 off

Sony India has launched its Black Friday sale, offering discounts of up to ₹10,000 on PlayStation 5 consoles, accessories, and games.

The PS5 Disc Edition is priced at ₹49,990 (down from ₹54,990), while the Digital Edition is ₹44,990 (from ₹49,990). The PS VR2 headset is available at ₹34,999 after a ₹10,000 discount.

The sale also includes DualSense controllers, Pulse Earbuds and Headsets, DualSense Edge controller, and popular games such as God of War Ragnarök at reduced prices. Offers are valid from 21 November to 4 December 2025 at major online retailers like Amazon and Flipkart, as well as offline stores including Croma, Reliance Digital, and Sony Centres.

Also Read: Morgan Stanley calls Eternal dip a buying opportunity

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Capillary Technologies IPO subscribed 53 times

Capillary Technologies’ IPO saw overwhelming investor interest, closing with nearly 53 times subscription.

The Bengaluru-based SaaS company, offering AI-led loyalty and customer engagement tools, received bids for over 44 crore shares against 84 lakh on offer.

Demand was strongest from big investors, with NIIs subscribing around 70 times and QIBs about 57 times, while retail investors subscribed nearly 16 times.

The ₹877.5-crore issue, priced at ₹549–₹577, includes a fresh issue for expanding cloud infrastructure, R&D, and potential acquisitions. IPO allotment will be finalised on November 19, followed by refunds and demat credits.

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Kaynes Tech falls 6% as 20% equity unlocks

Kaynes Technology’s shares fell nearly 6% after 20% of its equity, about 11.6 million shares worth roughly ₹7,233 crore, became available for trading as the lock-in period ended.

The sudden increase in free-float created selling pressure, pulling the stock down to an intraday low of ₹5,879.95. Despite the market reaction, the company recently posted strong quarterly numbers, with profit doubling to ₹121.4 crore and revenue rising 58% to ₹906 crore.

Its order book also expanded to over ₹8,099 crore, signalling healthy demand. Investors will now watch how the newly unlocked shares influence trading in the coming days.

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India’s unemployment rate holds at 5.2% in October

India’s unemployment rate for people aged 15 and above remained steady at 5.2% in October, according to the Ministry of Statistics & Programme Implementation (MoSPI).

Rural unemployment fell slightly from 4.6% in September to 4.4%, while urban joblessness edged up from 6.8% to 7.0%. Among women, unemployment improved, mainly in rural areas, dropping from 4.3% to 4.0%, while men’s overall rate stayed at 5.1%.

The Labour Force Participation Rate rose to 55.4%, and the Worker Population Ratio increased to 52.5%, indicating more people are joining the workforce, especially women in rural regions.

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Ukraine to receive 100 Rafale jets from France

Ukraine and France have signed a landmark agreement for Kyiv to acquire up to 100 Rafale fighter jets over the next decade.

The deal also includes drones, radars, and advanced air‑defence systems, aiming to significantly bolster Ukraine’s aerial and defensive capabilities amid its ongoing conflict with Russia.

Presidents Volodymyr Zelenskyy and Emmanuel Macron described the pact as “historic,” highlighting strengthened bilateral cooperation.

The acquisition of Rafale jets, known for their versatility and combat performance, marks one of Ukraine’s largest defense procurements, signaling Paris’s deepening support for Kyiv’s military efforts.

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Oil India Q2 PAT falls 43% to ₹1,044 crore

Oil India reported a 43% drop in standalone net profit to ₹1,044 crore for Q2 FY26, down from ₹1,834 crore a year ago.

Revenue rose 4% to ₹5,457 crore, with crude oil revenue falling 12% while natural gas and pipeline income grew. Operating and net profit margins narrowed sharply.

Production remained steady at 1.652 MMTOE. Numaligarh Refinery increased throughput to 753 TMT, and India’s first 2G bioethanol plant became operational.

The board approved an interim dividend of ₹3.50 per share, payable by 14 December, with 21 November as the record date. Shares rose 0.73% to ₹172.30.