BUSINESS
Zomato, Blinkit to cross-leverage customer bases soon: Deepinder Goyal
Goyal said that in India, super brands will work better than super apps. "Which means that the Blinkit app will continue to operate independently. We will also start working on integrating the delivery fleet back-ends which should drive higher delivery efficiency over time," he said in the letter to shareholders.
'With global positive cues rupee to trade 79.15 to 79.75 band against dollar'
According to Aditi Gupta, Economist at Bank of Baroda, the rupee after a record-low of 79.99/$ on July 20 has closed the fortnight stronger by 0.9 per cent. Apart from a weaker dollar, a reversal in foreign portfolio investments (FPI) outflows has also helped in supporting the rupee, Gupta said in the report.
Israel limits cash payments to fight financial crimes, tax evasion
The law, which was introduced by the Israel Tax Authority last week, requires that any payment to a business over 6,000 shekels must be made through other means such as digital transfer or a debit card. Individuals who are not listed as business owners can use up to 15,000 shekels in cash when it comes to trading, Xinhua news agency reported.
5G auction: Which telco got what, what bands were sold the most
If we look band-wise, the pricey 700 MHz band saw bids worth Rs 39,270 crore. The most popular 3300MHz band saw bids worth 80,590 crore and the 1800MHz band received bids worth Rs 10,376 crore. The 26MHz band got bids worth Rs 14,709 crore while 800 MHz band received bids worth Rs 1,050 crore. Around Rs 650 crore went to the 2500 MHz band while Rs 349 crore went to the 900 MHz band.
India still fastest growing economy, no sign of recession: FM on price rise defence
Speaking during a debate on the issue of price hike in the Lok Sabha, Sitharaman said the global agencies have ranked India's economy higher than most countries and there is no sign of recession in the country. While comparing India with neighbouring countries such as China, Sri Lanka, Pakistan, Bangladesh as well as the US and European countries, she said that on the basis of various parameters and data, India is in a much better state than most other countries at the global level.
Zomato narrows losses to Rs 186 cr, revenue up 17% in June quarter
"Growth in revenue was driven by 10 per cent QoQ growth in Gross Order Value (GOV) to Rs 64.3 billion in Q1FY23 and growth in revenue per order. GOV growth was, in turn, driven by robust growth in order volumes and mild growth in average order values as compared to the previous quarter," said Zomato CFO Akshant Goyal.
We'll celebrate 'Azadi ka Amrit Mahotsav' with 5G rollout: Akash Ambani
Jio said that its unique 700 MHz spectrum footprint will make it the only operator providing "true 5G" services across the country. "The speed, scale and societal impact of Jio's 4G rollout is unmatched anywhere in the world. Now, with a bigger ambition and stronger resolve, Jio is set to lead India's march into the 5G era," said Akash M Ambani, Chairman, Reliance Jio Infocomm.
Sensex extend gains for fourth day, ends above 58K; Nifty ends over 17K
At close, Sensex ended up 545.25 points or 0.95 per cent at 58,115.50, while Nifty ended 181.80 points or 1.06 per cent higher at 17,340.05. About 2,299 shares have advanced, 1,162 shares declined, while 195 shares remained unchanged. Mahindra & Mahindra Ltd, Power Grid Corporation of India Ltd, NTPC Ltd, Bharti Airtel and Maruti Suzuki India Ltd were the major gainers on the Sensex.
Reliance Jio leads 5G spectrum auction with Rs 88,078 cr: Ashwini Vaishnaw
Sunil Mittal's Bharti Airtel was the second-highest bidder with 19,867 MHz spectrum in various bands worth Rs 43,084 crore, in the auction that spanned for seven days with 40 rounds. Vodafone Idea, at third place, received 2,668 MHz worth Rs 18,784 crore while a unit of Adani Group acquired 400 MHz spectrum in 26 GHz band worth Rs 212 crore.
Rupee gains 23 paise to end at 79.02 against US dollar
At the interbank foreign exchange market, the Indian currency ended at 79.02, as against 79.25 closed on the previous trading session. The rupee has touched a high of 79.00 and low of 79.22 before ending at 79.02. "USDINR spot closed 23 paise lower at 79.02, thanks to FPI flows turning positive and some carry trade interest. Improvement in forward premium has brought exporters into the market.
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