BUSINESS
SoftBank likely to fully exit Zomato in coming months
According to sources, SoftBank has around 2.18 per cent remaining stake in Zomato which it is likely to sell via block deals.
Adani Group rejects OCCRP allegations on stock manipulation
“These claims are based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over invoicing, transfer of funds abroad, related party transactions and investments through FPIs.
Apple resolves key production issues around iPhone 15: Top analyst
The main production issues were with stacked CIS, panels, batteries (expanding when exposed to heat), and titanium frames.
Unable to raise funds, Dunzo again delays salary payments to October
The startup had previously committed to make payments on September 4, from the earlier July 20.
MediBuddy raises $18 mn for strategic acquisitions, continued expansion
In February 2022, MediBuddy raised $125 million during the Series C funding.
US economy grew more slowly in second quarter than previously estimated
Gross domestic product, the broadest measure of economic output, rose at an annualised rate of 2.1 per cent in the second quarter, according to the Commerce Department’s second estimate released on Wednesday, CNN reported.
Nifty gives up all its gains to close flat
However, they witnessed profit booking in the last hour, leading to Nifty giving up all its gains and closing flat at 19,347 points, up 0.02 per cent or 4.80 points, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
Return of investor interest to China, erratic monsoon poses challenges for Indian markets
Mid/Small caps however have continued to rally and valuations are now getting expensive adding to the discomfort of institutional investors, he added.
Hotel stocks up on demand outlook
Indian Hotels is up 5.45 per cent at Rs 414 on BSE. EIH is up 4.4 per cent at Rs 242 on BSE. Chalet Hotels is up 2.3 per cent at Rs 535.Lemon Tree Hotels is up 4.2 per cent at Rs 107.
Indian markets underperforming US markets this year
While S&P 500 is up 17.6 per cent YTD, Nifty is up only 6.3 per cent YTD. Relatively high valuations in India are constraining a strong rally, he said.
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