BUSINESS
Fashion supply chain marketplace Fashinza raises $100 mn
Fashinza, that provides a global supply chain for fashion brands and retailers, said it will utilise the funds (a combination of equity and debt) towards creating a sustainable supply chain for the global fashion industry and in expanding the company's presence globally.
Six applicants not found suitable for setting up banks in India
The RBI on Tuesday announced the decision on six applications received under the guidelines for �on tap' licensing of universal banks and small finance banks.
Bharti Airtel's revenues up 22% YoY, net profit 165% in Q4FY22
The sharp rise in revenues was backed by strong and consistent performance delivery across portfolios. The company's India business posted quarterly revenues of Rs 22,500 crore, up 22.7 per cent on year.
LIC's fall on exchange debut: Here's what analysts have to say
The Indian insurance major listed on the stock exchanges at a discount of over 8 per cent at Rs 867, as against its issue price of Rs 949. Here's what some of the analysts have to say about post the listing: Shivam Bajaj, Founder and CEO at Avener Capital
Equity indices close sharply high, Sensex up 1,345 pts, LIC falls on debut
Sensex closed at 54,318 points, up 1,345 points, whereas Nifty at 16,259 points, was up 417 points. S. Ranganathan, Head of Research at LKP securities, said: "On a day when WPI for April crossed 15 per cent, the 2.7 per cent rise in benchmark indices coupled with the breadth of the rally surprised many on the street despite the move coming after a relentless fall."
Centre relaxes wheat ban order, allows earlier registered consignments with Customs
It has now decided that wherever wheat consignments have been handed over to Customs for examination and have been registered into their systems on or prior to May 13, such consignments would be allowed to be exported. The government also allowed a wheat shipment headed for Egypt, which was already under loading at the Kandla port.
Supertech twin tower demolition: SC extends deadline to August 28
A bench of Justices D.Y. Chandrachud and P.S. Narasimha agreed to extend the deadline for demolition of twin towers following submissions from counsel representing the Interim Resolution Professional (IRP) and also considering a communication by the Central Building Research Institute (CBRI) Director, dated May 11, that the demolition should be deferred to August 28.
India now has 200 mobile phone manufacturing units: PM Modi
Addressing a Telecom Regulatory Authority of India (TRAI) programme via video conferencing, Modi said that in the last eight years, new energy has been infused into the telecom sector. "To make the mobile accessible to the poorest of the poor families, emphasis was placed on the manufacturing of mobile phones in the country itself. The result was that the mobile manufacturing units increased from 2 to more than 200," he emphasised.
India export ban shakes global wheat prices
Futures traded in Chicago rose as much as 5.9 per cent to $12.47 a bushel, their highest level in two months, Financial Times reported. Wheat prices have risen more than 60 per cent this year, driven up by disruption from Russia's invasion of Ukraine. The two European countries account for almost a third of the world's wheat exports.
Adani portfolio companies complete Rs 15,400 crore primary equity transaction with IHC
Syed Basar Shueb, CEO and Managing Director of IHC, said: "This strategic expansion of our business aligns with IHC's commitment to broadening and diversifying our investment portfolio. There is no doubt that this transaction will directly and positively impact India's overarching ambition for long-term plans for clean energy. The deal represents 4.87 per cent of the total trade between the UAE and India, which has reached $ 41 billion between 2020 and 2021.
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