Byju's is raising about Rs 2,200 crore ($300 million) as part of a larger round of new investment as the world's most valuable edtech company focuses on expanding its business in global markets and explores to do more acquisitions. According to industry sources, the new funding may value Bengaluru-based Byju's at $18 billion, up from a valuation of $16.5 billion in June this year. In June, Byju's became India's most valuable unicorn with a valuation of $16.5 billion, surpassing fintech company Paytm's $16 billion valuation.
Spot gold was up 0.6 percent at $1,103.60 an ounce by 0318 GMT, after an early low of $1,096.65.
Tista Sengupta catches up with five emerging designers from North East India -- Daniel Syiem, Atsu Sekhose, Meghna Rai Medhi, Dhiraj Deka and Sanjukta Dutta -- who, in their own way, are fighting to keep their traditional art of weaving alive.
Talks of a merger between HDFC Bank and parent HDFC Ltd had gained steam nearly eight years ago, when the Reserve Bank of India allowed banks to issue long-term bonds to fund infrastructure and affordable housing. At that time, key executives at both entities denied any such proposal. And today, the merger has been officially announced by the two players.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
The fundraising through rights issues in the first 10 months of 2022 is the lowest since 2016 during a similar period.
'In investing, you have to first make sure you don't make big mistakes.' 'I would advise small investors to be systematic, don't be arbitrary; don't be on either end of the risk spectrum.' 'Don't go from fixed deposit to option trading or crypto trading.'
The maximum damage has been reported from Mandi, Kangra and Chamba districts, he said, adding that so far 36 weather-related incidents have been reported from the state.
In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by the RBI for transactions processed in the RTGS and NEFT systems, RBI said.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
The pilot-turned-airline owner and his partner Biraja Jena plan to launch FlyBig, which has secured 16 routes under the fourth phase of UDAN, the government's regional connectivity programme.
At the outset, decide whether you want to be a trader or an investor, suggest Sarbajeet K Sen and Sanjay Kumar Singh.
Jet Airways is looking to lease around 20 Airbus A320 aircraft from lessors by 2024 as it aims to restart operations and fly international routes in the next one-and-a-half years. Jet's A320 aircraft fleet, according to sources, will be a mix of the Ceo and the more fuel-efficient Neo variants. These planes were originally intended for Russian airlines but could not be delivered following western sanctions on Russia over its Ukraine invasion.
The government must expedite its plan for asset sale and privatisation, both of which hardly got any mention in the Budget speech, points out A K Bhattacharya.
The Opposition party asked whether the prime minister will take responsibility for the 'deadliest rail tragedy' of this century.
Sanjay Kumar Singh suggests key factors investors need to keep an eye on while choosing the direct investment route.
Equity investors became poorer by over Rs 6.71 lakh crore on Thursday as domestic benchmark indices tumbled amid a global market meltdown. The 30-share BSE benchmark Sensex tanked 1,416.30 points or 2.61 per cent to settle at 52,792.23, tracking weak global markets and persistent foreign fund outflows. In line with the weak market trend, the market capitalisation of BSE-listed firms tumbled by Rs 6,71,051.73 crore to stand at Rs 2,49,06,394.08 crore.
The paper suggests the strategy needs to be area-specific eg, border tourism can be promoted aggressively in the Turtuk or Siachen sector, and Daulat Beg Oldi or Depsang plains.
Salil Dhawan explains why you must invest early in life.
The regulator last week reached out to custodians for beneficial ownership information of investors coming from China, Hong Kong, and 11 other countries.
More than 60 small and medium enterprises (SMEs) are expected to tap the market in one year to raise equity funds for supporting their business requirements, a BSE top official said on Wednesday. These companies will get listed on the exchange's SME platform, Ajay Thakur, head of BSE SME and Startup told PTI. Last year, only 16 SMEs had tapped the initial public offering (IPO) route and raised Rs 100 crore.
Among other proposals, she said NRI portfolio route would be merged with the FPI route for seamless investment in stock markets.
However, dealers said that most of the rupee's gains were lost on consistent dollar demand from state-run oil refiners and other importers.
The Mumbai Metro Rail Corporation Limited (MMRCL) on Tuesday launched the trial run of the Colaba-Bandra-SEEPZ Metro line-3 at Sariput Nagar in Aarey Colony in Mumbai.
The idea is to create a start-up-like activity with a small business unit.
The Supreme Court on Friday refused to accept in a sealed cover the Centre's suggestion on a proposed panel of experts for strengthening regulatory measures for stock markets in the wake of the recent Adani group shares crash triggered by Hindenburg Research's fraud allegations.
Talking to reporters at the accident site, he said the issue is of electric point machine, a vital device for railway signalling, and electronic interlocking.
The Centre's ambitious Rs 6-trillion National Monetisation Pipeline (NMP) could fall short of yearly targets for the current fiscal year (FY22) and the next one as well (FY23), partly due to the long gestation period in monetising big-ticket railway infrastructure, Business Standard has learnt from sources in the finance and rail ministries. Officials say the major chunk of railway monetisation will happen from FY24 onwards because leasing some of the infrastructure, like stadiums and dedicated freight corridor, will not happen anytime soon. Rail infra is expected to be the second-biggest contributor to the NMP, with about Rs 1.52 trillion worth of assets to be monetised.
The move will avoid hoodwinking the system and reduce the blind spots, which will ultimately lead to protection of depositors' money.
Family offices are increasingly looking to invest directly in start-ups rather than through investment in venture capital (VC) firms. The shift is happening because of multiple reasons. Next-generation scions of wealthy families are conversant with how the start-up world works after they have spent time in Silicon Valley; start-up investment is rising to 10-15 per cent of family offices' portfolios from single digits; and they do not want to share gains of investment with VC firms. "While earlier they would prefer to invest in this asset class via venture capital (VC) funds as LPs (limited partners), now they are making direct investment in start-ups.
The department had launched searches against the 48-year-old actor and the Lucknow-based group of industries involved in infrastructure on September 15 and the CBDT said the action was continuing.
When the Tatas re-boarded Air India on January 27 last year, the price of aviation turbine fuel was at over Rs 80,000 per kilolitre. Rupee was trading at around Rs 74 to a US dollar. The Omicron variant of Covid-19 was in prevalence - barely a week earlier, India had reported over 340,000 cases on a single day. Seven-day home quarantine of international travellers was the norm.
In an online chat with readers overseas education consultant NNS Chandra addressed queries related to US admissions.
"I have earlier appeared for the inquiry five times. The Anti-Corruption Bureau (ACB) had filed a C-summary report in a Pune Court that there is no truth in the allegations and the case be closed," he said.
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
Vodafone Idea MD and CEO Ravinder Takker told PTI that the company is gearing up to invest in the business and compete in the market.
Shiv Sena MP Sanjay Raut routed his unaccounted money through various shell companies opened in the name of his family members and associates, his former aide and prime witness in the money laundering case linked to the redevelopment of Patra 'chawl' project told the Enforcement Directorate (ED).
HNI investors need an optimal mix of oversubscription and listing-day gain to make money on leveraged bets, notes Sanjay Kumar Singh.
'It is funny that he's on CCTV all the time, but the Punjab police can't find him.'
The FTSEurofirst was on course for its worst one-day per centage fall since it slumped more than 7 per cent in October 2008
