BUSINESS
Re-ignited Rally: Markets rise as United Kingdom's mutant virus brings down valuations
Monday's sharp decline made valuations more attractive and re-ignited FII flows into the country. Besides, market participants pinned hopes on the $900 billion US stimulus bonanza to re-ignite a torrent of foreign fund inflows into emerging markets, especially India. On Tuesday, the foreign investors pumped-in liquidity worth Rs 1,153 crore, a day after they had pulled-out Rs 323.55 crore.
Google to invest in Indian startups Glance and DailyHunt
Indian startup Glance, which serves news, media content, and games on the lock screen of over 100 million smartphones, has raised $145 million in a new financing round from Google and existing investor Mithril Partners. The new round values Glance at over $1 billion
SBI Life and Apollo join the race for Reliance Capital's assets
December 1 was earlier the deadline for the submission of EOIs. Over 60 different bids have been received with SBI Capital Markets Limited and JM Financial Services Limited, the advisors to the lenders. Later the date for submitting the bids was extended to December 17.
Manappuram Finance raises Rs 400 cr through bonds
In a regulatory filing, the company said that the Financial Recourse and Management Committee of its Board of Directors at its meeting on Tuesday approved the allotment of 4,000 rated, secured, redeemable and non-convertible debentures with a face value of Rs 10 lakh each, aggregating to Rs 400 crore, on a private placement basis to be listed on the BSE Limited.
Cryptocurrency exchange CoinDCX raises Rs 100cr in Series B
The funding round also saw the participation of DG, Jump Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures and Alex Pack, CoinDCX said. This makes for the third round of funding for CoinDCX in 2020. In March, the company raised Series A funding worth $3 million from companies such as Polychain Capital, Bain Ventures and Bitmex.
Delhi industries asked to switch over to Piped Natural Gas by January-end
Considering the fact that the industrial sector is one of the major contributors to air pollution in Delhi and the National Capital Region (NCR), the Commission for Air Quality management has issued notices to about 1,644 such industrial units which are running in different areas in Delhi.
Majority of Indians plan to purchase property in 2021: Report
Around 84 per cent of home owners wanted ready-to-move-in or resale houses. The survey showed that budget continued to remain the most important determinant in terms of choosing a property. The percentage of people looking to buy a house price over Rs 80 lakh has jumped substantially with almost 30 per cent buyers having this budget as compared to 17 per cent last year.
Asian Development Bank to give Rs 2100-crore loan to Tripura for urban, tourism development
According to Tripura's Urban Development and Tourism Department Secretary Gitte Kirankumar Dinkarrao, of the Rs 2,100 crore expected to be provided by the ADB as loan, Rs 1600 crore will be for urban development and Rs 500 crore for the tourism sector.
Boeing puts off plans to set up manufacturing unit in Bengaluru
The US aerospace giant sought clearance from the state for the conversion of the plant into an R&D facility. Chaired by Karnataka Chief Minister BS Yediyurappa, the State High-Level Clearance Committee (SHLCC) meeting on Monday approved Boeing’s request.
Covid-19 Strain Effect: Buying triggers as United Kingdom's mutant virus brings down stock prices
Earlier, they were spooked at the prospects of economic damage unleashed by a new and more contagious Covid-19 strain discovered in the UK. This had triggered selling pressure by FIIs during the initial part of the day's trade.
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