BUSINESS
Global PC shipments grew 5% in Q3: Report
Despite the reduction in growth, volumes remain at a remarkably high level, given how strong the industry performed in Q3 2020. As a result, the PC market has undergone a two-year CAGR of 9 per cent from Q3 2019. Despite high demand, PC business suffered a series of blows, making it extremely hard to facilitate supply.
Crypto regulation way to go for new investors in India: Vauld CEO
Vauld, which is more like a crypto bank for financial products than a crypto exchange, treats cryptocurrency as a core asset class, aiming to infuse core principles of banking into it. Founded in 2018, the Singapore-registered startup has so far raised $27 million, and aims to reach one million users. It currently has over 150,000 users.
CarDekho raises $250 mn, becomes 31st Indian unicorn of 2021
The fresh round of funding included $200 million Series E equity and $50 million debt in its pre-IPO round. The funding round was led by LeapFrog Investments, a global impact investor focused on financial services and healthcare access. The CarDekho team is currently present in India, Indonesia and Philippines and aims to use the funds to expand internationally.
Finally, starting midnight Adani Group to takeover Thiruvananthapuram airport
This airport, which was declared as the fifth international airport in the country in 1991, will now be run by the Adani Group for the next five decades. In February 2019, the financial bid for privatising five airports in the country was opened and it was won by Adani Enterprises. The other airports that the Adani firm got are situated in Mangaluru, Ahmedabad, Lucknow and Jaipur.
Petrol, diesel prices rise on hold for 2nd consecutive day
Accordingly, in the national capital, petrol continues to be sold at Rs 104.44 per litre and diesel at Rs 93.17 per litre, the same levels as Tuesday In India's financial capital, Mumbai, where petrol became costlier by 29 paise per litre on Monday, the retail rates remain static at Rs 110.41 on Wednesday, the highest across all the four metro cities. Diesel also costs Rs 101.03 for one litre in Mumbai.
Markets open on a strong positive note
The Sensex of the BSE opened at 60,619.91 points and touched a high of 60,621.72 points. The Sensex touched a low of 60,452.29 points. On Tuesday, the Sensex closed at 60,284.31 points. The Sensex is trading at 60,522.68 points, up by 249.67 points or 0.41 per cent.
On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at lower note at 18,097.85 points after closing at 17,991.95 points.
India's August industrial production rises by 11.9% YoY
The Index of Industrial Production (IIP) for August rose by 11.9 per cent from a decline of 7.1 per cent reported for the like month a year ago. Last year, while the country observed a full-fledged lockdown, the same was partially imposed across different regions of the country. However, the production rate was flat on a sequential basis. However, the production rate was flat on a sequential basis.
Zee's Goenka questions Invesco's credentials citing earlier merger proposal
The revelation made by Goenka in the board note comes just a day after Invesco had issued an open letter to the shareholders of ZEEL, highlighting serious governance issues in the company and the need to restore the board's independence. The open letter also accused the ZEEL management of enriching the promoter family in its merger deal with Sony Pictures.
Freiburg (Germany)
The investment by Reliance will accelerate product and technology development for NexWafe, including completion of the commercial development of NexWafe's solar photovoltaic products on prototype lines in Freiburg. Its patented technology is expected to drastically cut wafer production costs, making solar photovoltaics the lowest-cost form of renewable energy available.
Tata Motors to raise $1 bn for its passenger EV business
TPG Rise Climate along with its co-investor ADQ shall invest in a subsidiary of Tata Motors that will be newly incorporated. Moreover, TPG Rise Climate along with the co-investors shall invest Rs 7,500 crore in compulsory convertible instruments to secure between 11 and 15 per cent stake in this company, translating to an equity valuation of up to $9.1 billion.
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