Share Market

With new funds, Flipkart's valuation is set to soar to more than $40 billion, giving a fillip to the Indian funding scene which is going through a harsh winter. Flipkart Group in July last year raised $3.6 billion to grow and advance the digital commerce ecosystem in India. The investment valued the group at $37.6 billion post the money then.

According to a TechCrunch report on Tuesday, K12 Techno Services which has raised more than $75 million in previous rounds and also engaged with TPG and Accel decided to go with existing backer Sequoia India. "The terms of the investment might change because the round has not yet concluded. It is unknown if any other investors, outside Sequoia, are participating in the round," the report said, citing sources.

Chinese technology giants Alibaba and Baidu fell by over 12 per cent in New York, the BBC reported. investors fear the world's second largest economy will be held back by its tough Covid-19 restrictions. One analyst said Beijing was in a "tug-of-war" between measures to boost growth and its zero-Covid policies.

Thus, when the financial statements of BDMCL for the period from FY 2011-12 to 2017-18 are found to present inflated figures of sales and profits, their disclosure as �true and fair' is an act patently fraudulent and unfair trade practice for the investors in securities, because investors rely on the financial disclosures made by the company, to make their investment/disinvestment decisions, the order said.

It enables innovative investment and wealth products and solutions like direct equity and ETF-based WealthBaskets from SEBI registered professionals to reach millions of Indians with broking accounts.

Statistics Austria said on Wednesday that the September inflation rate was 1.2 percentage points above that registered in August and exceeded the high inflation levels "during the oil crisis in the 1970s", reports Xinhua news agency.

In a statement issued on Friday, Atul Kirloskar, Rahul Kirloskar & Nihal Kulkarni said, "We are delighted to share that the Hon'ble Securities Appellate Tribunal vide its order dated October 12, 2022, has set aside the insider trading order dated October 20, 2020 passed against us by SEBI on the grounds that there was no unpublished price sensitive information (UPSI) and consequently there was no insider trading by us when we had sold shares of Kirloskar Brothers Limited to Kirloskar Industries Limited in 2010."

Price pressure on import of crude oil shall have a cascading impact on other items of the basket too. Additionally, factors such as transmission of input costs and pick-up in consumer demand supported by service sector recovery would further add to inflationary risk in the coming months, Rathi added.

As per the bid details issued by the Department of Investment and Public Asset Management (DIPAM), LIC will cut its stake in IDBI Bank to 19 per cent from 49.2 per cent, while the government will cut its share to 15 per cent from 45.5 per cent at present. According to the conditions of the EoI, private sector banks, non-banking finance companies (NBFCs), foreign banks and even alternative investment funds registered by SEBI can bid for IDBI Bank.

In a new filing with the US Securities and Exchange Commission (SEC), Musk's legal team has also asked the court to adjourn the trial and all other proceedings. "We received the letter from the Musk parties which they have filed with the SEC (Securities and Exchange Commission). The intention of the Company is to close the transaction at $54.20 per share," Twitter said in a statement.