BUSINESS
Debt collections SaaS platform Credgenics raises $50 mn
“With these resources, we can extend our innovative debt recovery solutions to new markets, empowering individuals and businesses worldwide to regain control of their loan collections,” said Rishabh Goel, Co-founder and CEO, Credgenics. Since its launch in 2019, Credgenics has seen 7 times growth rate.
US stocks sink as Moody's warns it could cut credit ratings of 6 big banks
The credit ratings agency said that its warning on the three banks reflected "ongoing strain" in the US banking sector, including increased pressures on funding and potential "weaknesses" in the amount of capital lenders are required to hold, CNN reported.
Ananya Birla’s Svatantra Microfin to acquire Sachin Bansal’s Chaitanya India Fin for Rs 1479 crore
“Subject to receipt of regulatory approvals and customary closing adjustments, the transaction is expected to be completed by the end of 2023,” said a statement.
Why EVs are not the best of alternative mobility fuel choices for now
At the very least, there is a need to discuss and outline why EVs could possibly be not-so-great from an environmental standpoint, at least for now in the Indian context.
Not the time to go overboard on equities given the valuations, say analysts
Aggressive Hybrid, Balanced Advantage, Flexicap, and Largecap Funds remain a preferred strategy for the first-time or conservative investor, it said. Global economy seems to be headed for a soft landing, but the impact of monetary tightening still warrants caution.
Domestic equities remain subdued
Broader market outperformed with Nifty midcap 100 and smallcap 100 up 0.2 per cent each. Sectorally, it was mixed bag with rally seen in PSU bank, which was up 3 per cent, he said.
Rapid increase in vegetable prices can push headline CPI-inflation for July much higher at 7.5%
Brinjal, another vegetable with a weight of 0.37 per cent, was up 48 per cent YoY last month and peas (weight = 0.1 per cent) has seen a price rise of more than two-thirds in July'23 vis-a-vis a year ago, Motilal Oswal Financial Services said in a report.
Maruti Suzuki to issue shares to Suzuki Motor Corp to acquire SMG
The SMG with a production capacity of 7.5 lakh units per year was promoted by Suzuki Motor Corporation to be a contract manufacturer of vehicles for Maruti Suzuki India several years back.
SoftBank reports unexpected loss of $3.3 bn in Q1
The Vision Fund investment unit, through which SoftBank invests in high-growth technology companies, reported a profit of $1.1 billion in the June quarter, reports CNBC.
Sustained selling by FIIs of Rs 10,437 cr during last eight sessions
In the near term the spike in the US 10-year bond yield above 4 per cent has triggered selling by FIIs who might be moving some money to the US bonds. The domestic market construct continues to be resilient. Thursday's US CPI inflation print will be keenly watched by markets, he said.
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