BUSINESS
SAT reserves order on Zee promoter's plea against restrain by SEBI
SAT, reserving the order, directed the market regulator and Goenka to file any written submissions, if any, within a week.
UBS shares plunge as the bank faces widening probe by the US
The Swiss Stock Exchange said it had temporarily stopped trade in the stock, which had fallen as much as 8% before it was suspended, CNN reported.
Indian economy will double in 10 years: Tata Chemicals CEO
Addressing the 50th National Management Convention organised by All India Management Association (AIMA), he said that if India can build capacity in new economic areas, its GDP will double in a decade.
Mobile phone exports from India cross Rs 45,000 cr in April-Aug period, Apple leads
As per the estimates by the Department of Commerce and the India Cellular and Electronics Association (ICEA), accessed by IANS, the April-August period saw mobile phone exports worth $5.5 billion, against $3 billion (about Rs 25,000 crore) in the same period in FY22-23.
Nomura sees softness in Indian markets driven by higher oil prices as opportunity to raise exposure
“We see recent softness driven by higher oil prices as an opportunity to raise exposure. While this weakness may persist in the near term, thus presenting even better timing, we think the window of opportunity might not be open for too long. Valuations are expensive but will likely remain so in a scenario of policy/government continuity," Nomura said in a report.
IT Department searches offices of Chinese electronic giant Lenovo in Mumbai, Bengaluru, Gurugram
"Yes, the teams of the IT Department are carrying out searches at premises of Lenovo in Mumbai, Gurugram and Bengaluru," an IT Department source told IANS.
Just like Elon Musk in US, we need more industry people in space sector: ISRO chief
Addressing AIMA's annual convention in the national capital, Somnath said, "We want to see more industry people in the space sector. Just like Elon Musk is there in the US, we need somebody like him to invest here. Though it's not an easy sector and is an unforgiving domain. It requires personal passion... Failures will be there. So my advice will be to start in the applications segment, like ground equipment manufacturing."
Pharma stocks top gainers in trade
However, persistent outflows of foreign funds and rising US bond yields are expected to keep the broader indices in bleak terrain, in the near-term, he said on Wednesday.
Fintech firm Bright Money raises $62 mn in equity, debt round
The funding includes $50 million in debt from Encina Lender Finance and $12 million in equity led by Alpha Wave, Hummingbird, and PeakXV.
Unicorn Zepto leads India’s ‘Top Startups List’ by LinkedIn
Zepto was placed 4th last year on the annual ranking of emerging companies in the country. In August, the company achieved unicorn status -- India’s first this year -- with $200 million in fresh funding in its Series E round.
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