Edtech unicorn Vedantu has laid off 385 employees, nearly 11.6 per cent of the company workforce, according to sources. This move is being seen as part of a drive in the edtech sector towards profitability via cost-savings and consolidation, as funds dry up, they said. The Bengaluru-based firm has laid off over 1,100 employees (both full-time and contractual), so far, this year.
Experts argue that the top two players in each category will receive funding sooner or later, but for laggards, the market is still challenging
While experts' views are divided, the move is aimed at improving the coordination between the government and the regulator.
Investors continue to back-up equity mutual funds in June as such schemes attracted a net inflow of Rs 15,498 crore on strong flows from systematic investment plans despite volatility in the stock market and relentless selling by Foreign Portfolio Investors (FPIs). This also marked the 16th straight month of positive inflow in equity schemes. Inflows into equity mutual funds in June was lower compared to the net inflow of Rs 18,529 crore seen in May, data from the Association of Mutual Funds in India (AMFI) showed on Friday.
After the GST Council's meeting in March, the Centre had sought views from Attorney General K K Venugopal -- who is the chief legal officer of the government -- on the legality of market borrowing by the council to make good any shortfall in the compensation fund. The AG in his view said there is no obligation on the central government to pay the GST compensation shortfall, according to the sources.
Whether this remains under control in the coming months will depend on the future intensity and spread of the Russia-Ukraine war, and the effectiveness of the Indian government's response, points out A K Bhattacharya.
The company did not disclose the valuations at which funds were raised.
USL claims it has given a report on how the liquor baron channelled money from the company to Kingfisher Airlines, Force India and Watson.
On Thursday, Adani Enterprises announced that it will not go ahead with acquiring Macquarie group's two road companies at an enterprise valuation of Rs 3,100 crore.
'...over the long-term can be done only by investing in equities.' 'And during weak macros, one needs t1o allocate more than drawing it down, because they offer the best entry point.'
Will a caste census make tens of millions desert Mr Modi?, asks Shekhar Gupta.
A Balasubramanian tells Business Standard that the sector will see one of its best phases in the coming five years.
In a far-reaching verdict, the Supreme Court on Thursday ruled that the appointment of the Chief Election Commissioner and the election commissioners will be done by the President on the recommendation of a committee, comprising the Prime Minister, Leader of the Opposition in the Lok Sabha and the CJI, to maintain the "purity" of the electoral process.
The Centre has to bear the maximum burden of borrowing NSSF loans to the tune of Rs 1 lakh crore.
There were fewer Series-B deals this year versus last, but more money was raised
Finance ministry sources have countered CAG audit finding of central government wrongly retaining Rs 47,272 crore of GST compensation cess meant for states, saying temporary retention cannot be termed as diversion.
SoftBank-based e-commerce marketplace Snapdeal has deferred its Rs 1,250 crore IPO, joining the list of startups that have decided to shelve their initial public offering (IPO) plans this year. Snapdeal, which competes with Amazon and Flipkart, filed a request this week with the Securities and Exchange Board of India (Sebi) to withdraw its draft red herring prospectus (DRHP) amid a sell-off in tech stocks worldwide. "Considering the prevailing market conditions, the company has decided to withdraw the DRHP. The company may reconsider an IPO in the future, depending on its need for growth capital and market conditions," a Snapdeal spokesperson said.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The single judge had set aside the Central Information Commission's direction holding that judges have to disclose such information.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Reliance Industries Ltd on Friday reported a 15 per cent drop in its net profit to Rs 15,792 crore for the third quarter, according to a company's stock exchange filing. The net profit of Rs 15,792 crore in October-December 2022 compares to Rs 18,549 crore a year back.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
The Congress needs to reorganise itself at the grassroots, infuse younger blood, and have more boots on the ground. Just offering freebies is not the answer anymore. Leadership matters, asserts Ramesh Menon.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The Centre should privatise all public sector banks (PSBs), except the State Bank of India (SBI). This is because private banks have emerged as a credible alternative to PSBs with substantial market share. Also, government ownership hinders the ability of the Reserve Bank of India (RBI) to regulate the sector, according to a report by the National Council of Applied Economic Research (NCAER).
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
West Asian carriers are up against Air India and IndiGo in the battle for seats on lucrative international routes.
A gradual approach to privatise public sector banks (PSBs) is more ideal than taking a big-bang approach, a study by Reserve Bank of India (RBI) staff has concluded. It has backed the government's idea to privatise two PSBs initially. Such a gradual approach would ensure that large-scale privatisation does not create a void in fulfilling important social objectives of financial inclusion and monetary transmission, the study has argued.
China on Tuesday said the activities of its high-tech research vessel will not affect the security of any country and should not be 'obstructed' by any 'third party', as the ship berthed at Sri Lanka's strategic southern port of Hambantota amid Indian and United States concerns.
'Our advice is to put money into equities now rather than staying away.'
CPPIB, which started investing in the country in 2009, has invested in Kotak Mahindra Bank, L&T Infrastructure Development Projects, online education firm Byju's, energy company ReNew Power, logistics firm Delhivery, among others.
Firm makes disclosures of improper transactions worth Rs 1,225.3 crore with entities linked to beleaguered businessman
The Bharatiya Janata Party and the Congress remain the most dominant political forces in Chhattisgarh, though the state has several regional outfits that have pockets of influence, while the Aam Aadmi Party (AAP) is making a determined bid to challenge its well entrenched rivals and make a mark in polls to the 90-member House.
'On the one hand, they are targeting NGOs that are doing development work, accusing them of accepting foreign funds by bypassing rules, and on the other they are allowing political parties to take foreign funds.'
Call it the art of staying rooted yet bending with prevailing political winds. With Telangana going to the polls in December, and assembly and Lok Sabha elections in Andhra and Odisha scheduled next year, what factors have influenced parties' recent moves?
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
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