Indian equity indices fell as Federal Reserve Chair's testimony and US jobs data approach. IT stocks like Tech Mahindra, TCS, Wipro, Infosys, HCL Tech lagged. L&T, Reliance Industries, Kotak Bank, JSW Steel, Tata Steel gained. IIFL Finance faced a 20% lower circuit after RBI's financing restriction. Read on to know more:
During the last 12-14 months, startup founders such as Zomato’s Deepinder Goyal and Policybazaar’s Yashish Dahiya and Alok Bansal have reaped mega rewards. However, Paytm founder and CEO Vijay Shekhar Sharma has seen his wealth eroded. Analysts have pointed to Zomato’s quick-commerce arm Blinkit as the driver of its next phase of growth, and for a potential upside on the stock.
During the last 12-14 months, startup founders such as Zomato’s Deepinder Goyal and Policybazaar’s Yashish Dahiya and Alok Bansal have reaped mega rewards. However, Paytm founder and CEO Vijay Shekhar Sharma has seen his wealth eroded. Analysts have pointed to Zomato’s quick-commerce arm Blinkit as the driver of its next phase of growth, and for a potential upside on the stock.
Sanjeev Bikhchandani discusses the Startup Mahakumbh event in India, aiming for it to become a marquee event. He highlights the success of listed and profitable start-ups. He emphasizes the importance of a solid business model with a compelling value proposition. He mentions the challenges in the start-up ecosystem and the need for a balanced policy approach.
Upon securing preliminary approval in 2022, Mswipe set its sights on piloting its internally developed payment gateway stack with its established merchant base. It was looking to become a full-stack payments player, diversifying from offering offline merchant acceptance devices.
This major push into the fast-growing direct-to-consumer space would entail Zomato building its own supply chain to directly source branded products and manage stock, multiple people aware of the plans told ET. It would deliver these through Blinkit. This wouldn’t involve the company directly owning inventory, but instead managing the flow of products for D2C brands, like marketplaces do.
MSCI added five Indian stocks to its Global Standard index with no deletions in its February review.
Founded in 2017 by Goel and Madhur Gujar, Amber primarily focuses on Indians studying abroad in markets like the US, the UK, Ireland, Australia and Canada, as the student accommodation in these countries is worth $60 billion, Goel said. “This market size is growing as more supply is coming into the picture,” he added.
The government backed network appears to be adopting strategies akin to its private counterparts, including high cash burn and frequent fundraising.
Blue-chip Nifty 50 and Sensex indexes dropped 1% each on Thursday after the Reserve Bank of India (RBI) kept its inflation forecast for fiscal 2025 above its target of 4%. From the Sensex stocks, Reliance Industries, Power Grid, SBI, HCL Tech, and Tech Mahindra opened higher, while, M&M, Bharti Airtel, Maruti, HDFC Bank, and ITC opened in the red.
Q3 results today: As for Trent, the fashion retailer posted a 124% jump in consolidated net profit to Rs 374.36 crore versus PAT of Rs 167 crore in the year-ago period. The company reported a revenue of Rs 3,686 crore, up 50% YoY from Rs 2,460 crore reported by the company in Q3FY23.
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