BUSINESS
Zepto Eyes $340 Million Funding at $5 Billion Valuation, Competing with Blinkit
With this funding, the valuation of the firm is likely to increase to $5 billion from its previous valuation of $3.6 billion, a jump of 40%.
Regulator Disputes Hindenburg's Claim on Mauritius-Based Fund in SEBI Chairperson Case
The FSC Mauritius took note of the report published by Hindenburg Research on August 10, 2021, which referred to 'Mauritius-based shell entities' and imputed that Mauritius is a 'tax haven'.
India Inc Sets Record with 195 Deals Worth $8.4 Billion in July, Report Reveals
"The strong growth in deal activity reflects growing investor confidence. Record volumes of M&As, driven by significant domestic transactions and a resurgence in cross-border deals, have proved India's strategic position as one of the key growth markets," Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat, said.
India’s Defense Exports Surge 78% in Q1 of 2024-25
According to the Economic Survey 2023-24 tabled in Parliament on July 22, India's defence exports touched a record high of $2.5 billion in FY 2023-24. This is a 25 per cent increase from $2 billion in FY 2022-23 and points toward a steady upward move in the past few years.
Starbucks Appoints Brian Niccol as New CEO, Succeeding Laxman Narasimhan
Currently CEO at Chipotle, Niccol will officially join the ranks on September 9, said Starbucks. Between now and then, added the company, Starbucks' CFO, Rachel Ruggeri, will act as interim CEO.
LIC's New Business Premium Jumps Nearly 20% to ₹18,431 Crore in July
Other details show that the 'Individual Premium' segment fetched in ₹5,479.57 crore in July, which is a 14.72 per cent increase from ₹4,776.66 crore in July 2023. The 'Group Premium', the second basket, recorded a massive rise of 22.74 per cent at ₹12,838.14 crore in July 2024 against ₹10,460 crore during the same month a year ago.
India's CPI Inflation Hits 59-Month Low at 3.54%
Cereal prices jumped 8.1% in July, a moderation from the 8.65% rise noted in June. Food inflation-which contributes almost half to the consumer price index-fell to 5.06% in July from 8.36% in June.
Growth in New Business Registrations for 2024-25
This uptick in new business formations for the fiscal year 2024-25 follows a notable 15% increase in company registrations during 2023-24, compared to 159,000 in 2022-23. This ongoing rise signals a positive shift in the country's business environment, according to a senior official.
SEBI Urges Investors to Exercise Caution Regarding Hindenburg Report
In that regard, investors shall keep in mind that Hindenburg Research may be having some short position in securities so projected by them in their report, said SEBI.
Mutual Fund SIP Inflows Hit Record Rs 23,332 Crore; AUM Reaches Rs 64.69 Lakh Crore
SIP investments surged to Rs 23,332 crore, which invigorated the Assets Under Management (AUM) for the mutual fund industry to Rs 64.69 lakh crore in July from Rs 60.89 lakh crore in the previous month.
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