BUSINESS
Jefferies hits 'buy' button on Zomato for long-term investors
Zomato share price tanked over 11 per cent on Monday and another 7 per cent on Tuesday to hit an all-time low of Rs 44.10. In a note, Jefferies said that now is the time for long-term investors to Buy Zomato stock with a target price of Rs 100.
CBI files supplementary charge sheet in DHFL-Yes Bank alleged loan fraud case
The federal probe agecny had arrested Sanjay Chabaria of Radius Developers, in May. Radius Developers took loan of Rs 3,000 crore from Dewan Housing Finance Ltd (DHFL) on the pretext of financing a project in Mumbai. "Bhonsle, Goenka and Balwa were allegedly used their firms to channel money of the loan. Hence their premises were also raided," the CBI had said. In March 2020, a case of loan fraud of Rs 3,600 crore was lodged by the CBI against Rana Kapoor, the promoter Director and CEO of Yes Bank for entering into a criminal conspiracy with Kapir wadhawan, the promoter Director of DHFL and others
Ukraine plans to start grain exports via seaports this week
Speaking at a media briefing aired on the Ukrainian Infrastructure Ministry's Facebook page, Infrastructure Minister Oleksandr Kubrakov said on Monday that the movement of ships from the Black Sea ports is due to start by the end of the current week. The demining process will be carried out exclusively in the corridor for the passage of cargo ships, and all ship caravans will be accompanied by Ukrainian rescue vessels, Kubrakov added.
SC notice to M.S. Dhoni in arbitration proceedings against Amrapali group
A bench of Justices U.U. Lalit and Bela M. Trivedi noted that the interest of the Amrapali home buyers has to be secured and the erstwhile management of the Amrapali group cannot be expected to represent the cause of Amrapali in the arbitration proceedings.
Chinese digital loan sharks spreading wings in India
Recently, a case of so called 'Chinese loan app' racket came to light in Delhi's Dwarka area. The racket was being run by some Chinese handlers in the garb of a local consulting BPO firm, Fly High Global Services and Technology. The modus operandi started with the simple advertisement for 'On Stream' online loan app in social media to attract customers who wished to avail hassle-free loans in minutes.
Smartphone brand Honor says 'maintaining' India business operations
According to a report in the South China Morning Post, the company's business in India will remain in operation, managed by local partners, but the brand will adopt a "very safe approach." Honor CEO Zhao Ming told state-run newspaper Securities Times that Honor formed the India team a few years ago but chose to leave for "obvious reasons", the report said.
Grounded for three years, Jet Airways all set to soar under new management
Paving the way for the private carrier's revival, the Directorate General of Civil Aviation (DGCA) granted the revalidated Air Operator Certificate to the new owners, Jalan Kalrock Consortium (JKC), on May 20. The JKC fulfilled all the conditions laid down in the NCLT-approved resolution plan for the revival of the airline, founded in April 1992 and launched in 1993 by businessman Naresh Goyal, and shut after 27 years in April 2019.
Tata Steel net down in first quarter
Steel major Tata Steel Ltd closed the first quarter of the current fiscal with a lower after tax profit on a higher turnover, as compared to corresponding period previous year. In a regulatory filing on Monday, the company said the after tax profit for the period ended June 30, 2022 stood at Rs 5,783 crore on a turnover of Rs 34,015 crore.
Level playing field for alternative fuel mobility: Indian Auto LPG Coalition
"In principle, we whole-heartedly welcome the government's initiatives on promoting EVs (electric vehicle). What we have been merely asking is that the government should also extend equal opportunity to another hugely feasible alternative fuel which could also contribute to an emission-free mobility system in our country," the association's Director General Suyash Gupta said.
Venture capital-backed companies in India shift focus to cash preservation
As per a report by KPMG, VC investment in India dipped in Q2'22, driven in part by global geopolitical uncertainties and rising inflation. While VC investment in India may be muted over the next quarter or two due to the global reduction in money supply and other factors, the country is expected to remain quite attractive to VC investors over the medium to longer term due to its relatively positive macroeconomic environment and market demographics.
Don't Miss
Advertisement