Posts tagged Rediff
Swiggy may file papers with Sebi for IPO in 2 weeks (16-02-2024)
Swiggy is planning to file its draft red herring prospectus with the Securities and Exchange Board of India for its initial public offering (IPO) in the next two weeks, aiming for an $11 billion IPO valuation target. The Bengaluru-based firm plans to raise an estimated $1 billion (Rs 8,300 crore) through the IPO this year. The company is targeting a valuation in the range of $10-11 billion, and it currently has approximately $800 million in cash from the previous funding round, according to sources.
RIL in talks for stake in Tata Play, eyes Disney’s 30% (16-02-2024)
Mukesh Ambani-owned Reliance Industries (RIL) is in discussions to acquire a 29.8 per cent stake in Tata Play from the Walt Disney Company, according to sources close to the development. This move is seen as part of RIL's broader strategy to deepen its footprint in India's television distribution sector. Tata Sons, the holding company of the Tata group, currently holds a 50.2 per cent stake in the satellite television broadcaster.
UpGrad’s founder blames Raveendran for Byju’s mess (16-02-2024)
Byju Raveendran, chief executive officer (CEO) and co-founder of Byju's, along with its nearly 51 investors, are responsible for the beleaguered edtech firm's current predicaments, said Ronnie Screwvala, executive chairman and co-founder of edtech platform UpGrad. Speaking at the second edition of the ASU+GSV and Emeritus Summit in Gurugram, he emphasised that "one rotten apple" should not affect the entire edtech sector.
LIC storms into top-5 most-valued club as m-cap surges (16-02-2024)
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
Midcap, smallcap have nearly doubled…’ (16-02-2024)
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
PMO Monitoring Red Sea Crisis (16-02-2024)
Any government support or incentive to help exporters deal with high freight and insurance costs is unlikely.
‘Tax buoyancy can’t continue…’ (16-02-2024)
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
Exports rise in Jan; trade gap shrinks to 9-month low (15-02-2024)
India's exports rose to a three-month high of 3.12 per cent to $36.92 billion in January despite global uncertainties including the Red Sea crisis, while the trade deficit narrowed to a nine-month low of $17.49 billion, the government data released on Thursday showed.
Sensex climbs 228 points on buying in HDFC Bank, M and M (15-02-2024)
M and M was the biggest gainer in the Sensex chart, rising 6.51 per cent, followed by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro. In contrast, Axis Bank, ITC, HUL, Nestle India and Sun Pharma were among the laggards.
ED to probe Fema breach in Paytm bank case (15-02-2024)
The Directorate of Enforcement (ED) has launched a preliminary investigation or a pre-open inquiry into alleged violations related to the Foreign Exchange Management Act (Fema) in the Paytm Payments Bank case, according to sources in the know. The probe follows serious concerns raised by the Reserve Bank of India on multiple violations by the Paytm bank, which is a joint venture between One97 Communications, which is the parent company of Paytm, and the group's founder Vijay Shekhar Sharma.