BUSINESS
Fintech firm Groww’s revenue surges 266% in FY23, turns profitable
The Zerodha rival reported a net profit of Rs 448.7 crore in FY23 against Rs 239 crore in net loss in the previous fiscal year.
Union Cabinet clears fertiliser subsidy worth Rs 22,000 cr: Sources
The Government has cleared an additional subsidy of Rs 4,500 per tonne on DAP, sources said.
Databricks acquires data startup Arcion for $100 mn
According to reports, the company acquired Arcion for about $100 million, including incentives.
Garuda Aerospace raises Rs 25 cr for working capital to execute order book
According to Garuda Aerospace, the company has raised Rs 25 crore from Venture Catalysts and WeFounderCircle.
GST notices worth Rs 1 lakh crore issued to online gaming firms
Last week, Delta Corp received a GST notice for short payment of tax to the tune of Rs 6,384 crore which came close on the heels of a Rs 16,800 crore tax notice sent to the company in September.
Diversion of flows expected from small and mid-cap stocks to large-caps
“But any correction in quality large-caps should be bought into at these levels, the report said.
Venture debt fund ValuAble announces first fund with Rs 850 cr corpus
“With ValuAble, we don’t want to be just lenders; we want to be partners in the entrepreneurial journey of different startups. Our core philosophy is to be enablers for businesses, providing them with the necessary resources, mentorship, and tools to not only secure capital but also to foster sustainable growth,” said Gupta, Founder and Managing Partner at ValuAble.
Weakness in small and mid-caps likely to persist
Positive news like decline in the US bond yields and weakening crude can help the market to revive but it may not sustain given the uncertainty surrounding the West Asian conflict. Investors may opt for a cautious approach to the market till some clarity emerges on the geopolitical situation, he said.
More layoffs, losses as US union expands strike against 'Big Three' automakers
The union on Tuesday organised its 5,000 member workers at GM's full-size SUV plant in Arlington, Texas, to strike, reports Xinhua news agency. The plant builds the Detroit automaker's most expensive vehicles such as the Chevrolet Tahoe and Suburban, the GMC Yukon and Yukon XL, and the Cadillac Escalade and Escalade-V.
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