BUSINESS
Live entertainment & gaming app Eloelo raises $22 mn
The funding will be used to partner with more creators and develop new tools for them, attract more talent across tech and product, and bolster monetisation efforts, the startup said in a statement.
Nifty down 232 points as volumes on NSE close to highest in recent times
At close, Nifty was down 1.15 per cent or 231.9 points at 19901.4, while the Sensex reported a loss of 796 points, or 1.18 per cent, to settle at 66,800.84.
Domestic markets slump due to rising US bonds yields, weaker rupee
While Sensex reported a loss of 796 points, or 1.18 per cent, to settle at 66,800, Nifty closed at 19,901, down 232 points or 1.15 per cent.
Govt likely to stick to market borrowing plan for raising Rs 6.55 lakh crore
A senior official said that although revenue collections have been robust with both GST and direct tax collections showing a sharp increase in the current financial year, there is no plan, as of now, to reduce borrowing.
Licious sees flat revenues as cash burn continues in FY24: Report
According to a Moneycontrol report on Wednesday, Licious ended FY23 with a revenue of Rs 700 crore, less than half of Rs 1,500 crore that it initially projected.
Kuku FM raises $25 mn co-led by Fundamentum Partnership, IFC
The latest round marks Fundamentum’s second investment in the audio content platform.
Household net financial savings at 47-year low in FY23
According to the Reserve Bank of India (RBI), household net financial savings (HHNFS) collapsed to just 5.1 per cent of GDP in FY23, marking the lowest level in 47 years since FY77, the report said.
Uber Auto in Delhi among services driving company’s growth: CEO
Not only has it been a boon for Indians, looking for a cheaper option to the customary cabs, but the three-wheeler services in New Delhi also seem to be at the forefront of Uber’s future growth initiatives, company’s Uber CEO Dara Khosrowshahi has said.
Akasa Air gets nod for international operations
According to sources, the airline is poised to commence international routes in December, with initial destinations centred around Middle Eastern nations.
Sensex cracks more than 600 points due to multiple headwinds
To add to these headwinds, now there is the disappointing news of the likely compression of NIMs of HDFC Bank, which might temporarily impact sentiments in Bank Nifty, he said.
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