Reasons Asian Paints is a long-term buy this festive season
Wed, Sep 28, 2022 1:15 PM

Reasons Asian Paints is a long-term buy this festive season

Asian Paints is the market leader in India, 3rd biggest paint company in Asia, and 9th largest paint company globally. It has a powerful hold over the decorative part, with a market share of 55%, and 84-85% of its revenue is gained from the decorative segment. With the upcoming festive season, it is also expected to pick up strong growth for the paint companies.

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CRED, upGrad, and Groww the top start-ups in India
Wed, Sep 28, 2022 1:08 PM

CRED, upGrad, and Groww the top start-ups in India

LinkedIn has released a list of the top 25 Indian startups this year. Cred has clenched the top startup in India on the ground of setting benchmarks for employees. With Cred, UpGrad is named in the second spot rising from third place in 2021 to first place in 2022. Groww grabbed the 3rd position in this year’s list. This year's list also saw the debuts of Ultrahuman (19th) and Living Food (20th).

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BIS labels the CBDC pilot as 'successful' with $22M transacted
Wed, Sep 28, 2022 1:07 PM

BIS labels the CBDC pilot as 'successful' with $22M transacted

The Bank for International Settlements has deemed a multi-jurisdictional Central Bank Digital Currency (CBDC) pilot "successful". The pilot's month-long test phase enabled cross-border real-value transactions worth $22 million. Twenty commercial banks from various regions participated in the pilot programme along with the central banks of Hong Kong, Thailand, China, and the United Arab Emirates.

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Mahindra & Mahindra concludes acquisition of 17.41% stake in Swaraj Engines
Wed, Sep 28, 2022 1:07 PM

Mahindra & Mahindra concludes acquisition of 17.41% stake in Swaraj Engines

Mahindra & Mahindra Limited declared that they had finished the acquisition of 21,14,349 Equity shares, comprising 17.41% of the paid-up equity share capital of Swaraj Engines Limited from Kirloskar Industries Limited. Earlier, the company said that the investment was for Rs1,400 per share, totaling Rs 296 crore. On Wednesday, it was trading 1.63% higher at Rs1,255.90 per piece.

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This telecom company is shutting down its operation
Wed, Sep 28, 2022 1:01 PM

This telecom company is shutting down its operation

Vodafone Idea is currently facing a debt issue. Vodafone Idea's infra provider, Indus Towers, has demanded that the firm pay its debt of ₹7000 Cr right away. If VI does not pay the debt by November, Indus Towers would restrict access to its towers. The NSE placed the shares of Vodafone Idea covered by F&O on the "F&O ban list" because they had exceeded the 95% market-wide position limit.

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Elucidata extends $16 million in series A led by Eight Roads Ventures
Wed, Sep 28, 2022 12:59 PM

Elucidata extends $16 million in series A led by Eight Roads Ventures

On September 28, the AI-based Life science platform revealed that it had raised $16 million in its series A funding round conducted by Eight Roads Ventures, with participation from F-Prime Capital, IvyCap Ventures, and Hyperplane Venture Capital. They mentioned they would use the funds raised (ML-Ops) platform Polly to deepen product capabilities in translational drug research and allied markets.

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Gaming firms to receive gas fees rebates from crypto project Klaytn
Wed, Sep 28, 2022 12:46 PM

Gaming firms to receive gas fees rebates from crypto project Klaytn

Klaytn, a South Korean cryptocurrency project, announced on Wednesday that it would offer rebates on gas fee payments made by gaming businesses developing on its network. In accordance with the new gas fee rebate program, a limited number of game companies will be qualified to get a 100% offset on their gas expenses beginning in January 2022 for up to $100,000 in KLAY every month.

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Lissun raises $1 million in pre-seed round
Wed, Sep 28, 2022 12:37 PM

Lissun raises $1 million in pre-seed round

Lissun has announced the completion of its $1 million pre-seed fundraising round led by Ivycap. The start-up for mental health offers contextual solutions for six healthcare categories and is presently present in 17 Indian locations. The company's newly raised investment will be used to reinforce and further expand the product's technology foundation in order to deliver a seamless experience.

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Supriya Lifescience stocks plunged 6% on CEO's resignation
Wed, Sep 28, 2022 12:33 PM

Supriya Lifescience stocks plunged 6% on CEO's resignation

Shares of active pharmaceutical ingredients (API) manufacturer Supriya Lifescience plunged nearly 6% to Rs 302.60 in Wednesday's trade after Shireesh Ambhaikar, the company's Chief Executive Officer, quit the position. However, he has agreed to extend his assistance on a retainer ship basis for two years, effective October 1, 2022 where he will be designated as Technical Head for few projects.

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Crypto tourism introduced by Binance
Wed, Sep 28, 2022 12:29 PM

Crypto tourism introduced by Binance

One of the top crypto exchanges in the world, Binance, has introduced the first cryptocurrency-sponsored vacation, known as "crypto tourism," to demonstrate how easy, safe, and effective travel will be in Web 3.0. The goal of Binance's campaign is to demonstrate that travelling with a crypto wallet is no longer difficult. Participants that are selected will have the chance to win $50K in BNB.

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Apple to drop Russia's largest social media From App Store
Wed, Sep 28, 2022 12:22 PM

Apple to drop Russia's largest social media From App Store

VKontakte, a well-liked social network in Russia, has been deleted by Apple Inc. As per Apple, VK programmes are restricted by the company and are not available for download or updates through the App Store. The Apple "reasons for deleting VK applications and developer accounts" are under investigation. Applications for VK are apparently still accessible on Android through Google Play Store.

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French drugmaker Sanofi predicts a positive boost from currency markets
Wed, Sep 28, 2022 12:19 PM

French drugmaker Sanofi predicts a positive boost from currency markets

French drugmaker Sanofi said it anticipated a positive boost to its third-quarter business outcomes from movements in the currency markets, supported by the strength of the U.S. dollar since Sanofi does business in the United States. Sanofi said its initial estimate of currency impacts on its third-quarter 2022 sales was for a boost of approximately 10% to 11%.

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BTC think tank urges US to reject CBDCs & look to BTC & stablecoins instead
Wed, Sep 28, 2022 12:16 PM

BTC think tank urges US to reject CBDCs & look to BTC & stablecoins instead

The Central Bank Digital Currencies should be rejected, and in their place, the United States should look to BTC & stablecoins, according to the U.S. think tank Bitcoin Policy Institute. Dan Held, a former growth lead at Kraken, & Natalie Smolenski, executive director of the Texas Bitcoin Foundation, claim that CBDCs would rob the general public of their financial independence, privacy, & freedom.

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Inox Wind rallies over 3% after India's first 3.3MW wind turbine
Wed, Sep 28, 2022 12:02 PM

Inox Wind rallies over 3% after India's first 3.3MW wind turbine

The commissioning of India's first 3.3 MW wind turbine at Village Ranparda, District Rajkot, Gujarat, has been announced by Inox Wind. Due to its compact size, this innovative product will significantly cut the cost of energy while also saving money on manufacturing, logistics, and transportation, as well as installation. Inox Wind Ltd. is up ₹4.7 or 3.35% and trading at ₹145.05 at 12 PM.

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Bitcoin is currently trading at $18,822; down by 6.73% in the last 24h
Wed, Sep 28, 2022 11:58 AM

Bitcoin is currently trading at $18,822; down by 6.73% in the last 24h

Bitcoin presently trades at $18,822. In the last 24 hours, the coin moved 6.73% to the downside and decreased by 0.67% in the last 7 days. The largest cryptocurrency by market cap was again rejected at the $20K level. The 24-hour trading volume is at $55.8 Billion, which is a 10.48% increase in the last 24 hours.

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