Despite Junjhunwala's tag, Metro Brands IPO receives tepid response
Wed, Dec 15, 2021 1:16 PM

Despite Junjhunwala's tag, Metro Brands IPO receives tepid response

Metro Brands IPO received a tepid response from the investors despite ace investor Rakesh Jhunjhunwala name tagged with the brand. In 3-day bidding, the public issue worth ₹1,367.51 crores got subscribed 3.64 times. Shares of Metro Brands fail to impress the grey market as well. Metro Brands shares are trading at a premium of ₹22 in the grey market today, according to market observers.

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IMF calls for comprehensive & coordinated approach for Crypto regulation
Wed, Dec 15, 2021 1:06 PM

IMF calls for comprehensive & coordinated approach for Crypto regulation

The International Monetary Fund has asked for a “comprehensive, consistent and coordinated” approach to global digital currency regulations. Three IMF officials believe the cross-border and cross-sector nature of digital currencies renders national regulatory approaches ineffective. Financial regulators across countries are actively working on crypto regulations.

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✅Burger King to change its name and raise ₹1500Cr through securities?
Wed, Dec 15, 2021 1:00 PM

✅Burger King to change its name and raise ₹1500Cr through securities?

✍Today, the board approved a fundraise of up to ₹1,500 crore through issuance of securities. Also a change in the name of the company from ‘Burger King India Limited’ to ‘Restaurant Brands Asia Limited’. Will be implemented pursuant to confirmation & reservation by the Registrar of Companies, MCA and subject to necessary approvals. At 11:35, shares were trading 1% ⬆️ at ₹157.70 on the BSE.

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🔅Cryptocurrency not in agenda for December 15 Cabinet Meet
Wed, Dec 15, 2021 12:55 PM

🔅Cryptocurrency not in agenda for December 15 Cabinet Meet

📜The Cryptocurrency Bill is not on the agenda at December 15 Cabinet Meet. Sources suggested that the much-awaited Bill may not be taken up by Parliament during the ongoing winter session that concludes on December 23. 📢Minister Pankaj Chaudhary stated that a "bill on cryptocurrency and regulation of official digital currency is under finalisation for consideration of the cabinet”.

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Sanofi, GSK announce single booster dose for COVID-19 vaccine candidate
Wed, Dec 15, 2021 12:55 PM

Sanofi, GSK announce single booster dose for COVID-19 vaccine candidate

British drugmaker GlaxoSmithKline and its French partner Sanofi stated on Wednesday that a single booster dose of their recombinant adjuvanted COVID-19 vaccine candidate delivered consistently strong immune responses. Sanofi is hoping for a comeback after falling behind rivals in the race for COVID-19 shots with a vaccine candidate based on the more conventional protein-based approach.

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Bitcoin dominance rate falls after reaching a high of 47.72%
Wed, Dec 15, 2021 12:48 PM

Bitcoin dominance rate falls after reaching a high of 47.72%

Since Oct 20, the Bitcoin dominance rate has been decreasing after reaching a high of 47.72%. Since its origin, it followed a descending resistance line. This led to a low of 39.95% on Dec 9. The low was made very close to the long-term 39.50% support area. On Dec 12 the dominance rate bounced back. If it continues to increase, the main resistance area would be found at 44%.

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Plum, Razorpay teams up to offer health benefits to early-stage startups
Wed, Dec 15, 2021 12:43 PM

Plum, Razorpay teams up to offer health benefits to early-stage startups

Plum, the employee health insurance startup, has collaborated with Razorpay Rize to offer exclusive group health benefits to early-stage startups. Plum intends to cover over 1,00,000 new businesses and entrepreneurs. The company offers a simplified purchase and setup process for health insurance and benefits for all startup members of Razorpay Rize.

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Rupee fall by 7 paise to 74.71 against USD
Wed, Dec 15, 2021 12:39 PM

Rupee fall by 7 paise to 74.71 against USD

The rupee weakened further by 9 paise to end at 74.71 against the US currency on Thursday, falling for the third day in a row, as weaker domestic equities weighed on the forex market sentiment. At the interbank foreign exchange market, the rupee opened weak at 74.75 per dollar. It hovered in a range of 74.84 to 74.65 during the session before ending at 74.71 against the greenback.

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Motilal Oswal crowns Adani Enterprises as most consistent wealth creator
Wed, Dec 15, 2021 12:28 PM

Motilal Oswal crowns Adani Enterprises as most consistent wealth creator

According to Motilal Oswal's 26th Annual Wealth Creation Study, Mukesh Ambani-led Reliance Industries has emerged as the biggest wealth creator. Adani Transmission is the fastest and Adani Enterprises is the most consistent wealth creator. Adani Transmission has emerged as the fastest wealth creator over 2016-21, compounding wealth at a compounded annual growth rate of 93 per cent.

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SMS Lifesciences executes a deal to divest partial stake in Mahi Drugs
Wed, Dec 15, 2021 12:24 PM

SMS Lifesciences executes a deal to divest partial stake in Mahi Drugs

SMS Lifesciences India executed a share purchase agreement and a share-subscription agreement with Chemworth Inc. USA, strategic investor and associates on Monday. As per the agreements, SMS Lifesciences will divest up to 10 per cent shareholding in Mahi Drugs and raise fresh equity in the company through the private placement route. The shares of the company gained after the news.

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Prestige Group, Awfis team up to provide 5 lakh sq ft of working spaces
Wed, Dec 15, 2021 12:16 PM

Prestige Group, Awfis team up to provide 5 lakh sq ft of working spaces

For the second time in a year, Prestige Group has teamed up with co-working space provider Awfis to add 12 new centres spread across an area of 5 lakh sq. ft to its property portfolio with an investment of Rs 110 crore. The partnership intends to cater to the growing demand for co-working spaces and startups that are looking to adopt hybrid/ agile workplace models, amidst the new normal.

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Trent shrares jumps as Tata group announces to re-enter beauty segment
Wed, Dec 15, 2021 12:08 PM

Trent shrares jumps as Tata group announces to re-enter beauty segment

Shares of Trent, a Tata group company, rose after the group was looking to “reclaim ground in the beauty business it exited 23 years ago”. The group had exited the space after selling Lakme to Unilever Plc in 1998. The retail vertical of the Tata group is known for its brands' Westside, Star Bazaar and Landmark. The market currently stands at $30 billion for Trent.

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🔍 Check out the top 5 Mutal Funds with highest NFO Collection in 2021!
Wed, Dec 15, 2021 12:00 PM

🔍 Check out the top 5 Mutal Funds with highest NFO Collection in 2021!

1️⃣ICICI Mutual Fund launched on Jun 21, collected ₹9,808 cr, the highest-ever NFO collection for any open-end equity scheme. 2️⃣NJ MF (NJ Wealth) collected ₹5,216 cr. 3️⃣ICICI Business Cycle Fund; ₹4,185 cr, the largest business cycle fund in the industry. 4️⃣Kotak Multicap fund; ₹3,510 cr, the highest-ever NFO collection for Kotak MF. 5️⃣Kotak MF launched a multicap fund; collected ₹3,510 cr.

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Ram Info to diversify its business through organic & inorganic methods
Wed, Dec 15, 2021 11:53 AM

Ram Info to diversify its business through organic & inorganic methods

Ram Info Ltd announced that its Board of Directors with the help of a virtual presentation has discussed the diversification strategy through organic & inorganic methods. To align the present business model with the diversification strategy, the Board reviewed the verticals of Energy, Agri-Logistic & Healthcare verticals & concluded geographical expansion and capacity building.

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Shopping app with AR try-on in India introduced by Adidas
Wed, Dec 15, 2021 11:43 AM

Shopping app with AR try-on in India introduced by Adidas

German sportswear brand Adidas on Wednesday announced the unveiling of its shopping app in India. The app will offer the brand's latest sneaker drops, seasonal apparel releases and gear. It will also remain equipped with a live chat option and AR try-on. The app will lead the majority of the future drops such as Yeezy, Pharrell Williams and exclusive collaborations with Lego and Disney.

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