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.
Posts tagged Rediff
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.
PSU stocks are on fire; analysts see more headroom (15-02-2024)
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S and P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S and P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Who Fared Better? Modi Or Manmohan (15-02-2024)
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.