BUSINESS
Clubhouse valuation hits $4B, tough competition arriving soon
According to TechCrunch, the new round of financing was led by Andrew Chen of Andreessen Horowitz, with participation from DST Global, Tiger Global and Elad Gil.
Tech Mahindra acquires 100% stake in DigitalOnUs
Tech Mahindra acquired 100 per cent stake in the organisation for an undisclosed sum to strengthen cloud-native development, hybrid cloud infrastructure and SRE (Site Reliability Engineering) automation.
Rising Covid cases, curbs pull markets' lower; Sensex down 1.80%
Both the key indices opened gap down and made a feeble attempt to rise through the day. Besides, the Indian rupee fell by most in around two weeks by about 0.5 per cent to 74.89 to a USD. However, Asian shares gained Monday amid cautious optimism about a global rebound from the coronavirus pandemic.
Resurgent Covid to heavily dent 2W sales: MOFSL
"This is despite the mini festival seasons across the country and the rationale of drop in sales volume is attributed to the onset of the second wave of Covid-19," the report said.
India-born Druva raises $147M at $2B valuation
The latest funding also has a significant investment by New York-based Neuberger Berman. Founded by CEO Jaspreet Singh and Milind Borate (co-founder and CTO) in Pune in 2008, the entire R&D work at the company is being done from India.
IndianOil starts oxygen supply to Delhi, Haryana, Punjab
The first batch of the lifesaver medical grade Oxygen was dispatched on Monday to Maha Durga Charitable Trust Hospital, New Delhi. Besides, the company said it has diverted the high-purity oxygen used in its 'Mono Ethylene Glycol' (MEG) unit to produce medical-grade liquid oxygen at its Panipat Refinery and Petrochemical Complex.
SBI General launches helpline for health insurance customers
Healthline service has a dedicated toll free number and mobile number that will be attended by a customer service team 24x7 to address the queries of customers related to risk cover and the claims procedure.
NBFC body seeks inclusion of education in ECLGS
The NBFC body in a letter to Finance Minister Nirmala Sitharaman noted that the business of many NBFCs include education loans to students to finance their higher education expenses in India and abroad and education institution loans (EIL) for financing education infrastructure growth needs of schools, colleges and universities.
Rising Covid cases, curbs pull markets lower; Sensex down 1.99%
Accordingly, all major sectors other than the healthcare were trading in the red. Around 1.45 p.m., Sensex traded at 47,858.33, lower by 973.70 points or 1.99 per cent from its previous close. The Nifty50 on the National Stock Exchange traded at 14,330.40, down 287.45 points or 1.97 per cent from its previous close.
HCL to drive end-to-end IT transformation at UD Trucks
HCL will deliver end-to-end IT transformation spanning across digital platforms, agile digital application development, migration, support and maintenance and digital workplace services, the company said in a statement. With this new partnership, HCL will further accelerate UD Trucks' digital transformation journey, it added.
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