BUSINESS
GlobalBees is latest unicorn with $ 111.5 million raise in round led by Premji Invest
GlobalBees, a leading roll-up e-commerce company, has secured $ 111.5 million in series B funding led by Premji Invest. The round also saw participation from existing investors, including SoftBank and FirstCry, while Steadview Capital became the latest investor to back the company.
Indian equities up marginally in early trade
At 10.15 a.m., Sensex traded at 57,993 points, up 0.2 per cent from its previous close of 57,897 points. Similarly, Nifty traded at 17,247 points, up 0.1 per cent from the previous close of 17,253 points.
Piyush Jain sold perfume compounds to 50 countries
"Around 100 samples of compounds have been taken by the financial intelligence teams from the premises of Piyush Jain. He used to sell the compounds to different foreign clients. Our probe has suggested that he has links in around 50 countries," said a source.
IPO flows to strengthen rupee in 2022; tighter policy likely dampener
Besides, strong forex reserves coupled with rising exports is expected to support the trend. However, likely stiffening of monetary policy rates along with faster US taper and a rise in crude oil prices will trigger volatility.
Ola Electric to have 4,000 EV charging points in 2022: CEO
In a tweet, Bhavish Aggarwal, Founder and CEO, Ola, said that Hypercharger roll out has begun across cities. "At key BPCL pumps as well as residential complexes. 4000+ points up through next year. We're installing across India and will make them operational in 6-8 weeks. Will be free for use till end June 22 for all customers," he said in a tweet late Tuesday.
Rising Omicron cases a worry, but implementing odd-even in Delhi markets absurd: CAIT
As per CAIT, the move will not reduce the rising cases of Omicron or Covid, but on the contrary the traders as well as the customers will have to face huge problems.
Banks need to further bolster capital positions to absorb stress: RBI report
"Although credit offtake by banks remained subdued in an environment of risk aversion and muted demand conditions during 2020-21, a pick up has started in Q2:2021-22, with the economy emerging out of the shadows of the second wave of Covid-19," the RBI said in its report 'Trend and Progress in Banking in India 2020-21'.
Over 4.67 crore ITRs filed on new e-filing portal: Centre
According to the ministry, more than 15.49 lakh ITRs were filed on December 27 and "this number is likely to increase further as the due date of 31st December, 2021 is approaching".
Govt notifies consumer protection rules, asks direct selling firms to comply within 90 days
According to the new rules of the Ministry of Consumer Affairs, Food and Public Distribution, it will be applicable to all goods and services bought or sold through direct selling, all direct selling companies offering goods and services to consumers in India, including a direct selling entity, which is not established in India, but offers goods or services to consumers.
SEBI tweaks lock-in period norms for anchor investors
"The existing lock in of 30 days shall continue for 50 per cent of the portion allocated to anchor investor and for the remaining portion, lock in of 90 days from the date of allotment shall be applicable for all issues opening on or after April 1, 2022," the market regulator said in a statement.
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