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.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
Harmanpreet Kaur joined the Punjab police as a Deputy Superintendent of Police (DSP), in Chandigarh, on Thursday.
The risk-reward ratio could turn adverse for foreign investors if corporate earnings disappoint by wide margins, or if crude oil prices spike in the international market, putting pressure on the rupee-dollar exchange rate.
The over five-year-long search to find Geeta's family led to Parbhani in Maharashtra, where she is now being trained in sign language by Pahal, an NGO working for the hearing and speech impaired.
TCS was the top gainer in the Sensex pack, rising around 4 per cent, followed by ONGC, ICICI Bank, HDFC Bank, Dr Reddy's, HDFC and HCL Tech. NSE Nifty advanced 76.65 points to 14,581.45.
'My relationship with the Pataudi family was to help me to survive in 1971.'
Despite price correction, policies that support the yellow metal will remain in place in the foreseeable future.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
He will be remembered not only as a writer but as one of the great chroniclers and interrogators of the history of our times, says Ambassador M K Bhadrakumar.
Reserve Bank Governor Shaktikanta Das on Thursday said the central bank's asset purchases, aimed at mitigating COVID-19-related liquidity stress in the system, did not dilute its balance sheet or compromise on core principles of central banking. In the wake of the pandemic, the RBI undertook several conventional and unconventional measures. "Unlike many central banks, the RBI's asset purchases did not dilute its balance sheet and hence, did not compromise on core principles of central banking," Das said while addressing an event organised by the Bombay Chamber of Commerce. These purchases were confined to risk-free sovereign (government) bonds including state government securities only, he said.
The size of the hole in today's banking crisis appears to be roughly 10 per cent of GDP.
'It was because of the huge selloff in the Indian equities that the rupee fell so sharply against the dollar on Friday.'
The 38-year-old lawmaker's move leaves Biden and Senator Bernie Sanders as the final two candidates in the Democratic race.
Maintaining intimacy during these difficult times is not about how often you get to have sex, says Leena Paranjpe. It is about how each couple can adapt to the crisis by coming together rather than thinking of separation.
The asset monetisation exercise in the first phase will help BSNL shave off its Rs 14,000-crore debt. The government has said that these firms are strategically important and will not be closed down or divested.
With the lockdown being eased gradually, providing more and more digital solutions, for service delivery and procurement of new policies, is what the corporation is focussing on.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
The Cabinet has cleared a Bill to set up a government-owned development finance institution (DFI) with initial paid-up capital of Rs 20,000 crore so that it can leverage around Rs 3 trillion from the markets in a few years to provide long-term funds to infrastructure projects as well as for development needs of the country. To put it in perspective, Rs 3 trillion constitutes slightly less than 3 per cent of the Rs 111 trillion to be spent on over 7,000 projects in the National Infrastructure Pipeline from 2019-20 to 2024-25. Besides, the government will give Rs 5,000 crore as grant to the institution, Finance Minister Nirmala Sitharaman on Tuesday told the media after the Cabinet meeting.
Suitors for Punjab and Maharashtra Co-operative Bank (PMC Bank) may have to infuse additional capital of nearly Rs 750 crore so that the payout per depositor is more than the Rs 5 lakh sum assured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). The Reserve Bank of India (RBI) has also slotted its board meeting on March 19 in Mumbai - a fortnight short of the current deadline to find a resolution for the beleaguered bank and the moratorium placed on it comes to an end. Sources close to the PMC Bank transaction said that the central bank wants the suitors "to go the extra mile so that depositors can get more than the Rs 5 lakh insured by the DICGC". This is also to ensure that the new owners of the bank - who are to be issued a small finance bank (SFB) licence - are serious and have deep pockets.
PSB executives said loans to group holding company IL&FS and entities might still be treated as "standard".
Opener KL Rahul issued a stern warning to England that if their players try to sledge any Indian player then the remaining 10 will come hard at them, as was witnessed during the second Test at Lord's.
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
'Mumbai turned me into a fighter, always hustling to keep up with the world.' 'Now, I hustle for the poor and the ones who don't have a voice because I feel they are poor for no fault of their own.'
'We will infuse the next tranche of recapitalisation by mid-December. Close to Rs 42,000 crore remain to be infused as capital in public sector banks in the current financial year,' a senior finance ministry official said.
A mere two-bedroom apartment - albeit quite spacious, covering 3,000 square (sq.) feet (ft) - will set you back 5.8 million. That's the asking price from the Indian-owned Hinduja Group, if you desire a nest in London Whitehall's iconic Old War Office (OWO). Its 1,100 rooms are now being converted into 85 residences and a first-ever hotel to be operated in Britain by Singapore's legendary Raffles Hotels chain. Gopichand Hinduja, co-chair of the conglomerate, said: "Every decision made on The OWO (as the building is fondly called) is underscored by our passion and respect for the heritage of the building and long-term commitment to London."
Equity markets in Pakistan and Bangladesh are tiny compared to the market capitalisation of the Indian equity market.
The spreads between state development loans and equivalent-maturity government papers have started widening, and market participants don't expect them to contract anytime soon. The rise in spreads is a direct measure of market displeasure than a rise in yields.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Finance Minister Arun Jaitley said Sebi would develop new products in the commodity derivatives space apart from taking steps to deepen the corporate bond market.
'There was a certain difference that separated him from the rest. That's why his life is so celebrated, his loss is felt globally.'
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
'It could tempt investors to pick stocks that are not fundamentally sound.'
'The announcement has come too late. This should have been done years ago.'
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
