Mamaearth's co-founder Ghazal Alagh clarified that Mamaearth has neither quoted nor subscribed to the valuation numbers for its initial public offering (IPO) which is doing the rounds on social media. Explaining further, Alagh stated, “Valuation discovery is a process which will take place over time as we get into deeper conversations with the investor community."

Gold prices surged today, extending this year's gains to near all-time high. On MCX, gold futures gained 0.7% to Rs 55,927 per 10 grams. Analysts suggest that demand for the precious metal as a safe haven has gained thanks to market volatility and value erosion in financial and other assets. Central banks' increasing gold purchases also drove the bullion metal prices.

Varthana garnered $7 Mn in a debt funding round from US-based global investment firm MicroVest by issuing non-convertible debentures. The education-focused fintech platform will deploy fresh funds to bolster its credit facilities for low-budget private schools affected by pandemic-induced disruptions. Varthana will also utilise the funding to ‘transform’ affordable education in rural India.

UK Prime Minister Rishi Sunak promised to decrease the national debt and cut inflation. The PM has finalised his priorities for 2023 against a backdrop of growing strikes, a creaking National Health Service and dire poll ratings for his ruling Conservative Party. The economic goals stands among five priorities outlined by the prime minister in his first set piece remarks of 2023.

GE HealthCare Technologies' stock gained 4.4% after the market debut on Wednesday after the medical equipment maker completed its separation from industrial conglomerate General Electric. GE HealthCare operates in imaging and ultrasound devices, patient care solutions and pharmaceutical diagnostics businesses. It is eyeing that its addressable markets will expand to $102 billion by 2025.

Purplle’s net loss almost quadrupled to INR 203.6 Cr in FY22 from INR 52 Cr in FY21. The below-par performance due to a sharp rise in its advertising expenses. The Premji Invest-backed beauty-focused ecommerce startup’s total revenue grew 63.5% to INR 227.4 Cr in FY22 from INR 139 Cr in FY21. Its operating revenue surged 1.7X to INR 219.8 Cr in FY22 from INR 128 Cr in Covid-disrupted FY21.

Sources claimed that the Delhi-based edtech startup Harappa Education has dismissed around 73 employees or almost 40% of its workforce. The layoffs were announced in the last week of December, with employees being asked to resign over messages and calls without any further clarification or official letter. Notably, Ronnie Screwvala’s upGrad bought Harappa Education for $38 Mn in July 2022.

IRB Infrastructure Developers' Board has nodded to the plan for alteration in the equity capital. It will split the existing shares of the company with a face value of Rs 10 per share into 10 shares with a face value of Re 1 each. The company presently boasts of an asset base of over Rs 60,000 crore in 10 states across the parent company and two Infrastructure Investment Trusts (InvITs).

The owner and operator of the retail chain D-Mart--Avenue Supermarts-- announced a 24.7 per cent growth in its standalone revenue from operations to Rs 11,304.58 crore in Q3FY23 compared to revenue from operations of Rs 9,065.02 crore in the October-December quarter a year ago. The company currently operates 306 stores, as of December 31, 2022.

Marico announced that the FMCG major's consolidated revenue will be in the low single digit in the December quarter on a year-on-year basis. The muted performance is due to a slow recovery in rural demand amid elevated inflation. In terms of India business, Parachute Coconut Oil is likely to register low single-digit volume growth after a visible recovery in December.

Salesforce has decided to lay off about 10% of its workforce and decrease its real estate holdings. The enterprise software company is planning this move as it onboarded several staff during the pandemic-fueled boom. The company earlier had about 80,000 employees. It now plans to complete the workforce restructuring by the end of fiscal 2024.

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Radiant Cash Management Services shares surpassed analysts' expectations by listing with a 10% gain The retail cash management service provider outperformed the equity markets that were caught in a bear trap. The stock commenced trading at Rs 103 compared to the issue price of Rs 94. It hit an intraday high of Rs 116.80 and a low of Rs 98.10, before settling with 11.6% gains at Rs 104.90.

The amount of Shiba Inu tokens being burned has decreased by about 50% in the past 24 hours, according to a burn tracker called Shibburn. Some members of the SHIB community have expressed frustration with the burn rate, and some said that the SHIB army should be burning trillions or at least billions of tokens in order to make a significant impact on the supply and potentially drive up the price.

Ola is eyeing to launch an EV cab service in Bengaluru with 1,000 cars. Users can avail the mentioned service on the Ola app itself as a separate category besides regular cabs and autos. The ride-hailing company’s new premium fleet will be operated by top-rated drivers and will offer benefits like 100% ride assurance post allocation of the cab, zero cancellations, and 100% cashless payments.