Bengaluru emerged at the top of India’s startup hubs, with over $5.7 Bn being raised across 163 deals. Followed by Delhi NCR, positioned on the second spot by bagging $1.9 Bn in funding across 123 deals, while startups in Mumbai stood at 77 deals, at $1.4 Bn. While Hyderabad and Pune surprised the ecosystem with a 329% and 653% YoY surge in deal count and funding amount, respectively.
Open FlipThe Colombo Stock Exchange received orders from Sri Lanka’s securities commission to halt trading for next week to give investors time to digest the country’s economic conditions. In a statement, the board of directors of the stock exchange, along with other stakeholders, had sought a temporary closure of the market.
Open FlipThe public provident fund (PPF) is an attractive and safe investment option, especially given its ‘EEE’ status. For many individuals, salaried or otherwise, the rate of interest on the PPF has been kept unchanged at 7.1% since the June 2020 quarter. 💡PPF comes with a minimum lock-in of 15 years that grow into a sizeable corpus, so dip into it only if you have exhausted all other options.
Open FlipIndustry experts have noted that Nifty Midcap50 has moved almost in sync with Nifty50 in the last six months. In spite of broader corrections at present, midcaps are still trading at a premium to largecaps. It is expected that largecaps will likely be the major beneficiaries if the FIIs make a strong comeback in Indian equities. Therefore, investors should favour large caps in their portfolios.
Open FlipThe world’s big four diversified miners--Anglo American PLC, BHP, Rio Tinto and Glencore PLC capital expenditure relative to cash generation has been falling in recent years. According to FactSet data, in 2012-16, the average CAPEX-to-operating cash flow ratio across these four companies slumped to 43% in 2017-21 from 78%. Analysts predict it is expected to decline further in 2022-24 to 34%.
Open FlipNo change was recorded in the prices of petrol and diesel for the tenth day in a row on April 16. The last hike was recorded on April 6 by 80 paise a litre each. Delhi costs Rs 105.41 per litre and diesel Rs 96.67 per litre, according to a price notification from fuel retailers. In Mumbai, petrol and diesel prices per litre are Rs 120.51 and Rs 104.77 respectively.
Open FlipThe government this month introduced a 30% levy on income from digital asset investments, putting additional pressure on already falling trading volumes. According to the data from CoinGecko, Indian crypto exchanges cater to about 15 mn people in daily trading volumes. Last year, it has tumbled between 88% and 96%. India’s biggest crypto bourse, WazirX saw volumes drop 93% from an October high.
Open FlipA crypto exchange firm Gemini has revealed in its report that cryptocurrency ownership has increased around the world over the years. According to the data, India owns 20% of cryptocurrency, which is similar to the US, while Indonesia and Brazil have topped the charts with crypto ownership with 41% share. The reports also show 50% of crypto owners globally are between 18 and 34 years of age.
Open FlipBitcoin's price is currently Rs 32.10 lakh, with a dominance of 40.88%, reflecting a 0.12% gain over the day, as per CoinMarketCap data. On April 16, all cryptocurrencies were trading in the green. The global crypto market cap is $1.89 trillion, surged 1.14% over the last day. The total crypto market volume over the last 24 hours is $62.15 billion, declining by 19.60%.
Open FlipAnalysts say specialty chemical companies are expected to report strong growth in revenues in the quarter ended March. As the global economy recovered from the persistent lockdown in the wake of COVID 19, this sector is witnessing a continous strong demand during the quarter. The net profit of speciality chemical companies to grow by over 20% on year in March.
Open FlipThe Multi Commodity Exchange (MCX) gold rate for June 2022 future contract tested ₹53,000 per 10 gm levels on Friday, attributed to the struggling peace efforts in Russia-Ukraine war and US inflation rallying to fresh 40 years high. Yesterday, the prices of gold failed to keep up this psychological level and closed at ₹52,991 per 10 gm mark. Spot gold price closed at $1974 per ounce levels.
Open FlipUS factory activity saw a 3rd straight monthly gain fueled by the sharp rebound in automotive output in March. The overall growth of the industrial production rallied 0.9% last month, matching February's upwardly revised pace, Feb said on Friday. However, its also indicating the worst of the production woes that have dogged the motor vehicle industry over the last year may have passed.
Open FlipAround Three companies are expected to announce their Q4'FY22 results today (April 16, 2022). They are: ☑️ HDFC Bank ☑️ICICI Prudential Life Insurance company Ltd ☑️ Integrated Capital Services Ltd Stay tuned to FlipItMoney to get updated information about their quarterly performance.
Open FlipOn Friday, the Russian rouble steadied past 80 per dollar and the stock indices rallied. The rouble surged 1.5% to 79.71 versus the dollar, having pulled back from a record low of 121.52 hit on the Moscow Exchange on March 10. In Moscow’s broader market, the shares of gold producer Petropavlovsk plunged more than 20% on the day.
Open FlipUltraTech Cement, India’s leading cement maker, notified that for a 29.39 per cent equity stake in the UAE-based RAK Cement Co for White Cement and Construction Materials PSC, the company has invested USD 101.10 million (around Rs 839.52 crore). The company said that the shares have been acquired at a cost of USD 101.10 million.
Open Flip