Delhi NCR-based unicorns hired the highest number of employees across all major Indian startup hubs between August 2023 and August 2024, hired the most employees across Indian startup hubs, adding 18,554 staff, surpassing Bengaluru and Mumbai. Delhi-based firms like PolicyBazaar and Zomato led the hiring, with Chennai reporting the second-highest employee additions.
Open FlipDevyani International's CFO, Manish Dawar, expressed caution on near-term consumer sentiment due to high food inflation, competition, and geopolitical challenges, expecting underlying performance to remain similar to 1HFY25. However, KFC and Pizza Hut are expected to post better SSSG, driven by base benefits, with cost optimization efforts to improve restaurant operating margins.
Open FlipHashdex and Franklin Templeton have received the nod from the SEC for their own respective Bitcoin and Ether index exchange-traded funds (ETFs).The United States Securities and Exchange Commission (SEC) has given the green light to Hashdex and Franklin Templeton’s respective Bitcoin and Ether index exchange-traded funds (ETFs).
Open FlipCryptopia’s liquidator, Grant Thornton, has announced the start of distributions to more than 10,000 verified account holders affected by Cryptopia’s hack in 2019.Liquidators of the bankrupt cryptocurrency exchange Cryptopia have started distributing millions to users affected by a hack that took place nearly six years ago.
Open FlipChinese banks in several cities have taken the unusual step of raising mortgage rates, Chinese media reported, underscoring concerns over their shrinking profit margins amid a faltering economic recovery. Some commercial banks in cities such as Guangzhou, Qingdao and Nanjing have raised first-home mortgage rates by 5 bps to 20 bps since Nov, to as high as 3.1%, official Beijng Daily, reported.
Open FlipZodiac Energy Limited (ZEL) has won its first international rooftop solar order in Kitwe, Zambia. The contract involves designing, engineering, and installing a 2 MWp grid-tied rooftop solar system with a battery energy storage system for Strongpak Limited. The project is valued at USD 720,626 and is expected to be completed by February 28, 2025.
Open FlipMufin Green Finance Limited (Borrower) entered into a finance agreement with the United States International Development Finance Corporation (Lender/DFC) on December 18, 2024. The primary purpose of this agreement is to secure loan facility of up to USD 18,000,000 to support Borrower's onward lending business. The loan facility, as outlined in the Finance Agreement, is capped at USD 18,000,000.
Open FlipSenores Pharmaceuticals has kicked off its IPO today (Dec 20). The bidding window is set to close on Dec 24. The IPO of Senores Pharmaceuticals offers shares in a price range of Rs 372 to Rs 391 per share. As of today's recent trend, GMP is Rs 150, indicating that stock is expected to list at premium, with estimated listing price of Rs 541 per share, 38.36% higher than upper end of the price band.
Open FlipThe Indian stock market looks set to close this week with hefty losses. The benchmark Sensex has plunged over 3,500 points this week, while the Nifty has declined to get closer to its 200-DEMA of around 23,700. On Friday, Dec 20, the Sensex opened at 79,335.48 against its previous close of 79,218.05 and dropped over 800 points, or over 1 per cent, to the day's low of 78,398.84.
Open FlipSpiceJet Ltd announced the launch of daily special flights connecting Prayagraj to Delhi, Mumbai, Bengaluru, and Ahmedabad exclusively for the Maha Kumbh Mela 2025. These flights will operate from January 12, 2025 to February 28, 2025, offering millions of pilgrims a seamless and convenient travel option to one of the world’s largest religious congregations.
Open FlipThe Reserve Bank of India (RBI) has increased its intervention in the currency market to defend the local currency after it slipped to a new record low today against the US dollar, currency traders said. Traders added that the central bank is intervening in the currency futures and spot market to keep the rupee under control through state-owned banks and a few brokerage houses.
Open FlipPTC Industries' share price has risen over 7500% in five years, turning a ₹1 lakh investment into ₹76 lakh, with a current trading price of around ₹11,675. The company's acquisition of Trac Precision Solutions Ltd. is expected to enhance its defence capabilities, and analysts anticipate further gains, with a target price of ₹20,070, indicating a 73% upside.
Open FlipShares of Anant Raj Ltd. were trading with gains of as much as 4% on Friday, December 20. The stock has the potential to surge another 30% from current levels, domestic brokerage firm Motilal Oswal said in a note on Friday, December 20. The brokerage initiated coverage on the real estate developer with a 'Buy' recommendation and a price target of ₹1,100 per share.
Open FlipPimpri Chinchwad MC Shekhar Singh on Thu announced time restrictions for construction activities within city limits, aimed at reducing air and noise pollution. Building constructions will now be allowed from 7am to 10pm, Singh told TOI on sidelines of event organised by real estate body Naredco. There are no existing guidelines on time restrictions for construction activities under UDCPR rules.
Open FlipJAIL has announced a Board meeting on January 16, 2025, at 1:30 PM. The meeting will review the company’s unaudited financial results for Q3 and the nine months ending December 31, 2024. The Board will consider a second interim dividend for FY 2024-25. This decision will be based on the total issued, subscribed, and paid-up capital of the company, offering potential benefits to its shareholders.
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