Billionaire and Mahindra Group chairman Anand Mahindra along with top Silicon Valley investors Naval Ravikant and Balaji Srinivasan are backing space tech start-up Agnikul as part of a new funding round. Chennai-based Agnikul said, on Thursday, that it has raised $11 million in Series A funding round led by Mayfield India. It is the largest funding round for a private Indian space technology company in the country. Existing investors pi Ventures, Speciale Invest and Artha Venture Fund also invested in this round.
India's fifth largest software services firm Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth $240 million (over Rs 1,486 crore).
PowerGrid was the top gainer in the Sensex pack, rising around 4 per cent, followed by ITC, Bajaj Finance, Infosys, NTPC and Tech Mahindra. NSE Nifty advanced 117.15 points to 17,072.60.
A rebound in oil prices, FII outflows and concerns over current account deficit weighed on the domestic currency, pushing it to fresh life-time lows.
Tech Mahindra was the top gainer in the Sensex pack, rising over 3 per cent, followed by Dr Reddy's, PowerGrid, Kotak Bank, Sun Pharma, ICICI Bank and M&M. On the other hand, IndusInd Bank, Asian Paints, Maruti and Bharti Airtel were among the laggards.
Trade and economic issues, including visa, totalisation pact and impediments hampering investments, are likely to figure at Monday's US-India CEO Forum meeting, which will be jointly addressed by visiting US President Barack Obama and Prime Minister Narendra Modi.
M&M also showcased its new format next generation 'dealership of future' designed by Pininfarina.
The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank. Nifty fell 143.60 points to 17,873.60.
Many chief executives said they were talking to people at the top level in their organisations to find how their companies can help the flood victims.
ICICI Bank was the top gainer in the Sensex pack, soaring nearly 11 per cent, followed by Axis Bank, Dr Reddy's, SBI, M&M and Tech Mahindra. NSE Nifty advanced 10.50 points to 18,125.40.
It is the six per cent target RBI is more concerned about.
The Pune-based vaccine major has entered into a collaboration with the University of Oxford and AstraZeneca to manufacture the vaccine.
Top leaders from India Inc may be busy throughout the year, but they too have a very strong social life beyond work.
This is the royal couple's last event in Mumbai before they head off to Delhi where they will pay tribute to Mahatma Gandhi and later celebrate the Queen's 90th birthday. Here's a glimpse of all that happened at The Social.
TUV300 will take on the likes of Ford EcoSport and Renault Duster that are priced between Rs 7.88 lakh and Rs 13.54 lakh.
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
Delaying action on climate change will hurt growth: Global CEOs.
IndusInd Bank was the top gainer in the Sensex pack, soaring over 7 per cent, followed by Bharti Airtel, HCL Tech, Tata Steel, Tech Mahindra and Dr Reddy's.
Modi had last month launched the 'Give-it-Up' campaign.
ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra were among the losers in the Sensex pack. NSE Nifty slipped 13.95 points to 17,355.30.
Now they are reinventing their strategies to stay afloat, as they see no sign of recovery for at least six months.
Equity benchmark Sensex on Monday crashed about 1,546 points to sink below the 58,000-level due to across-the-board selloff tracking sluggish global markets. Besides, persistent foreign capital outflows continued to affect the market sentiment, traders said. Benchmark indices started the session on a weaker note and the selling intensified during afternoon trade, with almost all sectoral indices ending in the red. The 30-share BSE Sensex ended 1,545.67 points or 2.62 per cent lower at 57,491.51.
Bharti Airtel Chairman Sunil Bharti Mittal said India has lost one of the finest political leaders and a legal luminary.
Stadiums across eight cities have often been packed and the second season witnessed a 20 percent rise in viewership, and the third edition which concluded last month saw a further 35 percent increase.
His global experience, deep business acumen and long association with the Tata Group will prove invaluable in his new role: ICICI Bank MD and CEO Chanda Kochhar.
India Inc is facing threat from non-traditional sources.
This is the best time to be in India, Prime Minister Narendra Modi said today as he wooed top Australian corporate honchos to invest in the country which is undergoing reforms to improve business environment.
'Chest-thumping on-air theatrics on television are no consolation for families who've been forced to embrace the price of war,' notes Nikita Puri.
Markets continued to fall on Monday, with the Sensex declining 94 points as investors remained cautious amid unabated selling by foreign funds and elevated crude oil prices ahead of the RBI's policy decision later this week. The 30-share BSE Sensex declined 93.91 points or 0.17 per cent to end at 55,675.32. During the day, it tanked 473.49 points or 0.84 per cent to 55,295.74.
Around 300 promoters serve their company boards for free.
Mukesh Ambani said he had never seen any city decked up so strikingly as Lucknow
'It is a balanced and prudent Budget that sets the foundation for future growth in the economy.'
Barely a month after breaking covers, the models -- the Jawa, the Jawa 42 and the Perak -- were sold out, reports Shally Seth Mohile.
It includes a session with Gadkari on analysing the initiatives needed to bridge the $1 trillion infrastructure deficit in the country.
Billionaire industrialist Mukesh Ambani has turned a venture capitalist and is backing a new television channel Epic TV due to go on air next month.
The man with the golden arm could surpass some, if not all, top cricketers -- the demigods who stand well above athletes from other disciplines in India
On the telecom sector, he demanded auctioning of more spectrum.
