BUSINESS
E-commerce enablement platform GoKwik raises $35 mn
The Series B round also saw participation from existing investors Sequoia Capital India and Matrix Partners India. The new funding follows GoKwik's $15 million Series A round in November last year, bringing total funding in the last 12 months to more than $55 million, said the platform.
Britain's retail sales in decline amid raging inflation
This is below the three-month average growth of 3.2 per cent and the 12-month average growth of 6.4 per cent, Xinhua news agency quoted a statement issued by the British Retail Consortium on Tuesday. Since the figures are not adjusted for inflation, the real drop would be much larger it added.
Reliance Nippon Life Insurance FY22 net profit up 30% YoY
It reported a net profit of Rs 50 crore in FY21. The company is a joint venture between Reliance Capital and Japan's Nippon Life. Assets under management rose 13 per cent year on year to Rs 27,619 crore at March-end 2022, against Rs 24,383 past year. In FY22, total new business premium income increased by 13 per cent to Rs 1,282 crore against Rs 1,135 crore in FY21.
Trade pacts with UAE, Australia will fuel economic growth: FM
Speaking at the stakeholders' outreach programme on India-UAE CEPA and India-Australia ECTA here, Sitharaman said awareness events about these pacts are happening across the country. She also said the Director General of Foreign Trade (DGFT) has been asked to translate the details of the trade pacts in Tamil and share them with the media and stakeholders.
Bajaj Finance raises interest rate on FDs with immediate effect
The revised rates on Bajaj Finance's FDs, of up to Rs 5 crore, are effective from Wednesday and will be applicable to fresh deposits and renewals of maturing deposits, a statement said. Post the revision, deposits between 36 to 60 months will offer a cumulative return as high as 7 per cent.
Equity indices settle low amid high volatility, rupee recovers a tad
Sensex closed at 54,364 points, down 106 points or 0.2 per cent, whereas Nifty, at 16,240 points, was down 62 points or 0.4 per cent. Among sectors, metals, power and realty fell the most while banks and FMCG ended mildly in the positive. BSE Midcap and Smallcap indices severely underperformed, falling 1.98 per cent and 2.11 per cent,respectively.
Party time for Kohinoor Foods' investors as stocks up 130% in 1 month
The shares of the company have been reportedly consistently hitting upper circuit for the past 21 days. On Tuesday, the shares closed the day at Rs 20.65, up 4.8 per cent from the previous closing price. In the past one-month period, the shares accumulated over 130 per cent returns for its investors.
IPO-bound Delhivery has promising growth potential: Samco Securities
Although the company's revenues are increasing at a rapid pace, the company's EBITDA and cash flow from operations remains negative, the brokerage said in a note. "We expect that the company will continue to experience increasing cost pressures, at least in the short term, due to rising fuel costs," Yesha Shah, Head of Equity Research at Samco Securities, said.
LIC's grey market premium falls ahead of exchange listing
In stock market parlance, the buying and selling of securities before they are officially issued on the stock market is called grey market. In the unofficial market, shares of the insurance major exchanged hands at a minuscule premium of Rs 8-10 per share over the issue price, which is 90 per cent below the premium of Rs 100-105 per share it commanded a week earlier, according to an Economic Times report.
Enough pressure on RBI as rupee's sentiment negative, may touch 80/$1, says mkt observer Mecklai
The Reserve Bank of India's decision last week to hike key policy rates by 40 basis points in an off-cycle meeting has surprised everybody.
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