Postman, a leading application programming interface platform, has secured $225 million in a Series D round, placing its valuation at $5.6 billion. With this, Postman has emerged as the most-valued software-as-a-service (SaaS) firm started by Indian founders, overtaking web and mobile testing firm BrowserStack, which was valued at $4 billion in June. The valuation of the San Francisco-headquartered firm with offices in Bengaluru, where it was founded, has almost trebled in just about one year and risen multi-fold since 2019. Postman, with team members spread across four continents, had secured $150 million in a Series C investment round led by Insight Partners at a $2-billion valuation last summer.
InterGlobe Aviation's promoter Rakesh Gangwal on Monday sold shares worth Rs 6,785 crore of the company through open market transactions. The co-founder of the company, which operates the country's largest airline IndiGo, offloaded 2.25 crore shares of IndiGo amounting to 5.83 per cent stake, according to bulk deal data on BSE.
According to the daily, the fine is expected to be the largest penalty ever levied on a single company by the US Federal Trade Commission.
The third phase of the Lok Sabha elections for 94 seats will take place on Tuesday, May 7, 2024, covering 12 states.
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
Investors' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a crash in equity markets where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers. The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade. Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore ($5.35 trillion) during the morning trade.
Quoting the company's Chief Financial Officer James M Follo, the report said real estate firm Cushman & Wakefield has been retained to act as its agent to secure financing, 'either in the form of a mortgage or a sale-leaseback arrangement'. The report said that the company's portion of the building is not currently mortgaged.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Kingfisher Airlines has introduced a daily service between Delhi-Srinagar and Mumbai-Srinagar.
The dream run began with the pair of Ashwin, who made his debut in November 2011, and Jadeja, who played his first Test in December 2012, coming together to form a lethal spin combination.
From the 30 Sensex pack, State Bank of India, Mahindra & Mahindra, Bharti Airtel, Titan, HDFC Bank, IndusInd Bank, Axis Bank and Bajaj Finance were the biggest laggards. JSW Steel, Tech Mahindra, Larsen & Toubro, Hindustan Unilever, HCL Technologies and Reliance Industries were among the gainers from the pack.
Indian javelin thrower Annu Rani once again failed to impress on the global stage
BCCI announced a fixed match fee of Rs 7.50 lakh for all players selected to play the IPL league games with an additional 1.05 crore income over and above their salaries.
Arshdeep was lethal in India's seven-wicket win over USA, snaring four wickets for just nine runs in New York on Wednesday.
Micromax launched a range of LED TVs priced between Rs 15,990 and Rs 129,990. The company eyes a revenue of Rs 225 crore from this segment in this fiscal
'Party workers sit outside polling booths and they know everything that is happening.' 'Besides, as a voter when you push the EVM button to vote there is a paper slip that comes out showing you who you voted for.'
The runners-up will earn at least $1.28 million, while the losing semi-finalists will take home $787,500 each.
Maharashtra government on Monday offered to provide 22.5 per cent of the developed land to those whose lands would be acquired for the Navi Mumbai International Airport project.
Sarvesh Kushare said Neeraj Chopra's advice has boosted his confidence as at one point in time this year, he was not even sure of making the Paris Games cut.
'The people of India have shown immense faith in the Tata group as they have never broken the trust of Indians.'
During the first quarter ended June, gross tax collections fell 31 per cent driven down by a massive 76 per cent plunge in advance tax mop-up, as the country was in a full lockdown due to the pandemic.
Quoting a study conducted by the Department of IT in consultation with the National Manufacturing Competitiveness Council, it said that 'an estimated 2.25 million persons would be directly employed in the industry (IT) by 2015 as against 0.77 million in 2007'. Minister of state for labour and employment Harish Rawat told the Lok Sabha that incremental human resource requirement has been estimated to be around 1.5 million persons.
'Any earnings, regardless of location, will be subject to Indian income tax.'
The latest report showed that between October and December 2023, over 2.25 million videos (2,254,902) were removed in India for violating YouTube's community guidelines. India topped the list of 30 countries in video removals.
A sharp decline in crude and strengthening of the rupee added to the buoyancy.
Japan's Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around $150 million, sources aware of the development said. Softbank invested about $1.5 billion in One97 Communications -- the owner of Paytm brand -- in tranches in 2017. "Softbank has exited Paytm at a loss of 10-12 per cent.
Bandi Sanjay Kumar, who took oath as minister in the Narendra Modi cabinet on Sunday, weathered political storms and intra-party bickering before he could successfully establish himself as a firebrand BJP leader in Telangana.
India's largest power company NTPC plans to invest a massive Rs 2,25,000 crore (Rs 2.25 trillion) in the next seven years in capacity expansion to become a 75,000-MW entity, company's chairman and managing director R S Sharma said on Tuesday.
He cautioned the party workers and emphasised the importance of management to ensure electors reach polling booths and cast their votes.
While speaking at the post-match presentation, Kuldeep said he was "happy" at the win and added that the team knew it was going to be "tight" when the match went to the last over.
From the Sensex pack, Tata Motors slumped over 7 per cent. Adani Ports, Tata Steel, SBI, Power Grid, JSW Steel and Maruti were the other big laggards. However, Hindustan Unilever and Nestle ended in positive territory.
Ishan Kishan made a smashing return to domestic red-ball cricket, scoring a century for Jharkhand against Madhya Pradesh on Day 2 of the Buchi Babu tournament.
Sooraj R Barjatya was judged Best Director for the Hindi movie Uunchai at the National Film Awards.
IndiGo has delivered impressive operating performance in the past six quarters as it navigated cost and capacity challenges. It has managed to mitigate the impact of faulty engine-related groundings. The airline has also managed costs related to grounding, expensive secondary leasing, increasing airport charges, and pilot compensation inflation and delivered stronger yields and spreads.
After making the model work in metro cities, players in the quick commerce sector are rapidly expanding their footprint into smaller tier 2 cities and markets beyond that ahead of the festival season.
Unlike AI uses for consumers, the next generation technology for enterprises will unfold over several years and the biggest challenge is to unleash AI for next wave of productivity for businesses, Infosys chairman Nandan M Nilekani said on Wednesday. While speaking at 43rd annual general meeting (AGM) of Infosys, Nilekani said the initial AI doomerism has quietened down and people have accepted that, like any other general-purpose technology -- electricity, nuclear energy, the internet etc, gen AI (generative artificial intelligence) has enormous potential for good when advanced within the guardrails of responsibility.
Cement manufacturers have hiked prices after a challenging Q1FY25, and Q2FY25 (so far) when general elections and seasonal factors cut down on construction activity. The August prices are currently around 3-6 per cent above July 2024 but may not be sustainable in the face of weak demand. H2FY25 may see realisation growth which, if it happens, would drive average operating profit/tonne improvements in H2FY25 over a muted H1FY25.
The index touched a high of 17,015 - up 389 points from the day's low. The Sensex finally ended with a gain of 225 points at 16,978. The market breadth was marginally positive - out of 2,750 stocks traded, 1,425 advanced, 1,239 declined and 86 were unchanged on Wednesday.
IMAGES from the first Test, Day 1 between India and Bangladesh played at the Chepauk in Chennai on Thursday
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
