BUSINESS
Mobile Premier League raises $95mn, nears unicorn status
The latest round was led by Composite Capital and Moore Strategic Ventures, with participation from Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders circle and Play Ventures. The total capital raised by MPL since its inception in 2018 now stands at $225.5 million.
SBI Q3 FY21 net profit down 7% YoY
Accordingly, the bank's net profit fell to Rs 4,574 crore from Rs 5,196 crore recorded during the corresponding period of the previous fiscal. Excluding the one off interest income and other income during Q3 of FY20, the YoY growth in Net Profit and Operating Profit for Q3 of FY21 will be 133.78 per cent and 26.23 per cent respectively, the bank said in a statement.
BharatPe appoints Gautam Kaushik as 2nd Group President
Prior to joining BharatPe, Kaushik was the CEO and MD of PAYBACK India where he led the largest customer loyalty programme in the country. A veteran in leading successful multi-million dollar businesses in payments and financial services, he will work with Ashneer Grover, Co-Founder and CEO of BharatPe, and lead payments and banking partnerships.
Travel app ixigo acquires train booking platform Confirmtkt
The founders of ixigo will join the Confirmtkt board and existing investors of Confirmtkt, including Venture Catalysts, will be exiting the company fully as a part of the deal. The two companies will continue to run independently, post this acquisition, ixigo said.
Willing to support Future Retail during financial challenges: Amazon
After Future Retail (FRL) CEO Kishore Biyani was debarred by SEBI from the securities market for one year for insider trading in the scrip of FRL, the Future Corporate Resources Private Limited said that the SEBI order in connection with a bar on dealing in securities has taken care to exclude the dealings in securities under any impending scheme of arrangement.
Airtel returns to profits, Q3 net profit at Rs 853.6 crore
The telco posted its highest ever consolidated quarterly revenue from operations at Rs 26,517.8 crore, 24.2 per cent higher than the 21,343.6 crore reported in the year ago period. The company had a net exceptional gain of Rs 4,559.9 crore during the quarter ended December 31, 2020, comprising of charge on account of re-assessment of contractual, regulatory levies and taxes of Rs 3,159.6 crore.
Government may delicense power distribution sector to allow competition
Official sources said that the Power Ministry would soon move a draft bill proposing amendments in the Electricity Act that would remove the wording 'distribution licensee'. What this will do is to maintain status quo of existing distribution entities but will now allow entry of other participants in a distribution area if it is able to manage infrastructure for supplying electricity to consumers.
RLDA opens request for qualification bids for redeveloping New Delhi Railway station
The RLDA has received overwhelming response from national and international players as nine leading companies -- Arabian Construction Company, Adani Railways Transport Ltd, BIF IV India Infrastructure Holding (DIFC) Pvt Ltd, ISQ Asia Infrastructure Investments Pte Ltd, Anchorage Infrastructure Investments Holdings Ltd, Kalpataru Power Transmission Ltd, GMR Highways Ltd, Omaxe Limited and Elpis Ventures Pvt Ltd -- participated in the RFQ.
Electronic Giants like Samsung, LG set to make India hub of exports
These companies in India were only exporting their product to smaller emerging markets like Middle East, South-Asian, African and Latin American nations, while the govt had been trying to make India Self Reliant in production for both the domestic and global markets.
Amazon unveils plans for 'Helix' tower at new HQ
The company calls the building "the Helix" because its corkscrew shape is supposed to take inspiration from "the natural beauty of a double helix". It also -- it must be said -- bears a distinct resemblance to the swirling poop emoji, though, with some healthier colours mixed in, The Verge reported on Tuesday.
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