BUSINESS
Just like Elon Musk in US, we need more industry people in space sector: ISRO chief
Addressing AIMA's annual convention in the national capital, Somnath said, "We want to see more industry people in the space sector. Just like Elon Musk is there in the US, we need somebody like him to invest here. Though it's not an easy sector and is an unforgiving domain. It requires personal passion... Failures will be there. So my advice will be to start in the applications segment, like ground equipment manufacturing."
Pharma stocks top gainers in trade
However, persistent outflows of foreign funds and rising US bond yields are expected to keep the broader indices in bleak terrain, in the near-term, he said on Wednesday.
Fintech firm Bright Money raises $62 mn in equity, debt round
The funding includes $50 million in debt from Encina Lender Finance and $12 million in equity led by Alpha Wave, Hummingbird, and PeakXV.
Unicorn Zepto leads India’s ‘Top Startups List’ by LinkedIn
Zepto was placed 4th last year on the annual ranking of emerging companies in the country. In August, the company achieved unicorn status -- India’s first this year -- with $200 million in fresh funding in its Series E round.
Dilip Shanghvi terminates investor agreement with Suzlon
Dilip Shanghvi and Associates, referred to as the 'Investor Group', who had entered into an amended and restated shareholders’ agreement dated February 28, 2020 with the promoters/promoter group of the company and the company, have informed the company and the other shareholders, who are party to the agreement, that the Investor Group has decided to terminate the agreement in accordance with the terms of the agreement, Suzlon said.
DGGI slaps Dream11, other online gaming firms tax notices totalling Rs 55,000 crore
The GST department has issued a notice exceeding Rs 25,000 crore directed towards fantasy sports platform Dream11. No official from Dream 11 was available for comment on the matter till the filing of this report.
Climate change, tech and geopolitics will shape future of business: Tata Steel CEO
Narendran pointed out that the global steel industry contributes 8 per cent of the total emissions and the governments in Europe are discussing green steel with the industry.
OYO set to report its first net profit of Rs 16 cr in Q2 FY24
In a letter to the company’s top management, seen by IANS, OYO founder Ritesh Agarwal shared that Q2 FY2024 will mark the company’s maiden profitable quarter with a projected profit after tax (PAT) of over Rs 16 crore.
Zerodha reports revenue of Rs 6,875 cr, profit at Rs 2,907 cr for FY23
In FY22, the company had reported a revenue of Rs 4,964 crore and a profit of Rs 2,094 crore.
Markets likely to remain under pressure as US bond yields at 16 year highs
Nifty traded sideways amid subdued global cues and closed flat to negative at 19669 levels. Also mounting concerns over China’s real estate sector, and FIIs offloading in domestic equities dampened the sentiments, he said.
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