Business
‘Not Moving Out Of Bengaluru’: BlackBuck CEO Clarifies After Heated Debate Over ‘Pothole’ Post
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BlackBuck CEO Rajesh Yabaji had earlier announced his decision to move out of its current location at Bellandur on Bengaluru’s Outer Ring Road (ORR) over commute problems.
BlackBuck CEO and co-founder Rajesh Yabaji. (Photo: X/@YABAJI)
Rajesh Yabaji, the co-founder of online trucking platform BlackBuck, clarified that he is not moving out of Bengaluru, after his social media post triggered a heated debate on the IT capital’s infrastructure and traffic issues.
“We unilaterally refute the claims made by some media outlets that we are considering moving out of the city. We are only relocating within the city to a different location, which will facilitate and easy commute for our employees,” he said on X. “As we do this, we want to reiterate that a large part of operations would still continue to happen on the ORR, and hence we will continue to seek help from the concerned authorities to enable infrastructure improvements to facilitate smooth business operations.”
Yabaji said the team moved to Bellandur in 2016 for larger office spaces and better-suited facilities and credited authorities in Karnataka and Bengaluru for providing the company with the needed resources to grow in the city. “As one of the biggest beneficiaries of the Karnataka tech-ecosystem over the last decade, we understand what the city of Bengaluru has helped us achieve and how it will be playing a major role in unlocking our potential ahead.”
“We will not only continue to remain in the city of Bengaluru, but will also expand our footprint here. Bengaluru is home for us and as always, we continue to remain committed to relay our needs and issues to the relevant government authorities and seek support to get them resolved,” he further said.
BlackBuck CEO’s Post & DK Shivakumar’s ‘Blackmail’ Jibe
Earlier, Yabaji on Tuesday announced through a social media post that the company has decided to move out of its current location at Bellandur on Bengaluru’s Outer Ring Road (ORR), citing “worsening infrastructure and commute issues” in the metropolis.
“ORR (Bellandur) has been our “office + home” for the last 9 years. But it’s now very-very hard to continue here. We have decided to move out,” Yabaji said on X, adding that the average commute for colleagues has increased over 1.5 hours and roads are full of potholes and dust.
His remarks caused renewed criticism of Bengaluru’s civic conditions. However, Karnataka Deputy CM DK Shivakumar responded by saying that the government is working to ensure that no company leaves the IT capital over infrastructure-related issues, but “blackmailing the government” will not work. He also said anyone is free to move out if they are not satisfied in Bengaluru.
Andhra Minister Offers Vizag For Relocation
Andhra Pradesh minister and TDP leader Nara Lokesh joined the conversation by offering BlackBuck to relocate to Vizag. “We are rated among top 5 cleanest cities in India, are building best-in-class infra, and have been rated the safest city for women. Please send me a DM,” the Andhra minister said on X.
In another post, Lokesh took a dig by saying that Andhra Pradesh does not dismiss the genuine grievances of people as “blackmail” and instead treats them with dignity and seriousness.
Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international…Read More
Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international… Read More
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September 18, 2025, 19:57 IST
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After the drop in gold price, Bitcoin price also fell.
Bitcoin fell below $77,000 in the global market, Bitcoin price fell by more than 13% in a week.
Bitcoin’s highest price in 6 months fell below $126,000, Bitcoin price has dropped by more than $49,000.
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The BSE Sensex is trading higher by 371 points, or 0.47%, at 81,090.24, while the NSE Nifty rises by 70 points to trade above 24,850 at 24,889.25.
Stock Market Today.
Market Updates Today: A day after the market crash following the Budget’s provision to hike Securities Transaction Tax (STT), the domestic equity market on Monday saw heightened volatility. After opening nearly flat, the NSE Nifty rose to the day’s high, then touched the day’s low before sharply recovering to trade at the day’s high of 25,093.
As of 3:16 pm, the BSE Sensex surged by 932 points, or up 1.13%, to 81,641.87 in the afternoon trade and the NSE Nifty rose by 267 points, or up 1.07%, to trade above 25,000 at 25,093.27. After opening nearly flat, the NSE Nifty rose to the day’s high, then touched the day’s low before sharply recovering to trade at the day’s high of 25,093.27.
Among the 30 Sensex shares, 25 stocks were trading in the green. Among the top gainers were PowerGrid, Adani Ports, BEL, Reliance, Mahindra & Mahindra, Larsen & Toubro, and IndiGo, rising by up to 7.91%. The laggards were Axis Bank, Infosys, Titan, TCS, and Trent, falling by up to 1.97%.
After opening nearly flat, at around 9:30 am, the BSE Sensex jumped by 350 points to 81,112.03 in the opening trade, while the NSE Nifty rose 91 points to trade above the 24,900 level at 24,910.85. However, the benchmarks gave up all gains and declined to day’s low amid heavy volatility.
Aakash Shah, technical research analyst at Choice Equity Broking Private Ltd, said, “Near-term sentiment remains cautious despite some support from domestic technical indicators. The broader market direction will largely be influenced by global equity cues, crude oil price movements, and institutional fund flows.”
On Sunday, the Nifty saw an aggressive sell-off after the Budget 2026 announcement to hike STT, plunging nearly 870 points from 25,440 to an intraday low of 24,571, before staging a partial recovery to close at 24,825.
“A strong bearish candle was formed, with the index closing decisively below the 200-day EMA, indicating a deterioration in trend strength. Immediate resistance is placed at 24,950–25,000, while key support lies in the 24,650-24,700 zone. The RSI slipped to 31, reflecting oversold conditions, while India VIX surged 10.73% to 15.09, highlighting elevated market volatility,” Shah said.
On Sunday, February 1, foreign institutional investors (FIIs) sold equities worth Rs 588 crore, while domestic institutional investors (DIIs) also remained net sellers, offloading shares worth Rs 682 crore, adding to the pressure on the market.
V K Vijayakumar, chief investment strategist at Geojit Investments Ltd, said, “Yesterday’s market selloff resulting in 495 point crash in Nifty was a knee-jerk reaction to the sharp increase in STT on F&O trades. This was not a revenue-raising measure, but a decision to discourage retail traders from complex F&O trading, in which 92% of them were losing money. This decision is in the interest of retail investors. But this decision impacted the market sentiments, which were already impacted by the decision to make no changes in the LTCGs tax, which a section of the market was expecting rather unrealistically.”
It is important to understand that the Budget is a growth-oriented Budget with fiscal prudence. The 10% nominal GDP growth projected in the Budget is achievable and has the potential to deliver around 15% earnings growth in FY27. The market will soon start discounting this positive. But it is possible that FIIs may continue to sell impacting the market. Retail investors should keep their cool and remain invested and continue to invest systematically. A significant upturn in the market may take time; perhaps a retreat from AI trade globally. We don’t know when this will happen. But we know that an earnings rebound is imminent in response to this growth oriented Budget. That is a clear positive, he added.
February 02, 2026, 09:34 IST
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Gold prices have fallen significantly in both local and international markets, with 10 grams now priced at Rs18,433 and a tola at Rs21,500.
The price per tola fell below Rs22,000, reaching Rs21,500, while 10 grams dropped to Rs18,433.
Internationally, gold also saw a decline, with prices falling by 215 dollars to 4,676 dollars per ounce.
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