IBT Business Desk

Articles by IBT Business Desk

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Markets likely to remain under pressure as US bond yields at 16 year highs

Markets are likely to remain under pressure amid a sharp surge seen in U.S. 10-year treasury yields to 16-year highs of 4.5 per cent, says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Service.

6 days ago

EV firm Ather Energy's losses swell 2.5 times to reach Rs 865 cr in FY23 [details]

Hero MotoCorp-backed electric vehicle (EV) company Ather Energy's losses surged more than 2.5 times in the financial year 2022-23.

8 days ago

Google Co-founder Sergey Brin quietly divorced wife after alleged affair with Musk

Google co-founder Sergey Brin quietly divorced Nicole Shanahan, an attorney and entrepreneur, over rumours that Shanahan was engaged in a romantic relationship with Tesla and SpaceX CEO Elon Musk.

15 days ago

Nifty closes lower with a loss of 2% for the month of August [details]

Domestic equities saw profit booking on the last day of the month ahead of GDP data and monthly FNO expiry. Overall, for the month of August Nifty closed lower with a loss of 2 per cent, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Aug 31, 2023

India gets its 1st unicorn of 2023 in Zepto which raises $200 mn

India gets its 1st unicorn of 2023 in Zepto; valued at $1.4 billion after $200mn funding round

Ending the unicorn drought in India amid the ongoing funding winter, online grocery company Zepto on Friday announced it has raised $200 million in its Series E round, valuing the company at $1.4 billion.

Aug 25, 2023

upi npci bank payments mobile banking goes live 21 banks digital banking unified payment interface national payments rbi commercial

UPI transactions shot up to Rs 83.2L crore in 2022 amid govt push [details]

Unified payments interface (UPI) transactions rose manifolds between 2018 and 2022 in terms of value as well as volume, by 1,320 per cent and 1,876 per cent respectively.

Aug 20, 2023

Homegrown gaming platform MPL lays off 50% of workforce amid 28% GST regime

Homegrown online gaming platform Mobile Premier League (MPL) is reportedly slashing its workforce by nearly 50 per cent that will impact around 350 jobs, as the 51st GST Council meeting stayed firm on taxing online gaming at 28 per cent on gross value collected.

Aug 8, 2023

RIL's exports cross Rs 3.4 trillion; represents India's 9.2% total exports [details]

Reliance India Limited's exports for the year was Rs 3,40,048 crore (US$ 41.4 billion), a strong jump of 33.4 per cent from FY22 exports of Rs 2,54,970 crore (US$ 33.6 billion).

Aug 6, 2023

Sky is the limit: IndiGo is now tenth largest airline by capacity globally; growth indisputable [details]

IndiGo is soaring high with record Rs 3100 crore quarterly profit in June; that's Rs 35 crore per day

Interglobe Aviation Ltd, that owns Indigo Airlines, on Wednesday announced that it will be floating a Limited Liability Partnership to invest in startups after closing the first quarter of 2023-24 with a net profit of Rs 3,087.2 crore.

Aug 3, 2023

Binny Bansal, Accel, Tiger Global Bid Farewell to Flipkart: Walmart pays top dollar [details]

Retail giant Walmart has reportedly paid $1.4 billion to acquire VC form Tiger Global's remaining shares in the e-commerce major.

Jul 31, 2023

Market watch: High likelihood of correction in equity markets over next few months [details]

Over the next few months, the chances of the Indian equity market undergoing a correction are high, said a senior official of credit rating agency Acuite Ratings & Research.

Jul 30, 2023

CBDT meets officials to dispel doubts on faceless tax assessment.

Last date to file tax returns is July 31, no extension in deadline: Govt tells taxpayers [details]

The government has urged the taxpayers to file their income tax returns before July 31, 2023 to avoid the last minute rush, as there is no possibility of any extension of the deadline.

Jul 16, 2023

BSE Sensex crosses milestone of 66,000 points led by IT heavyweights [details]

BSE Sensex is up 625 points in a ferocious rally at 66,019 points powered by positive cues from the US market.

Jul 13, 2023

Dunzo faces severe cash-crunch amid acquisition rumours; delays 50% salary of workers [details]

Homegrown quick-grocery delivery provider Dunzo has delayed 50 per cent salary of some employees, media reports said.

Jul 10, 2023

Gujarat roots and success: Vineeta Singh's journey from Anand to leading 'Sugar Cosmetics'

When we met Vineeta Singh, she personified her vibrant brand -- Sugar Cosmetics -- in her ensemble of a pink top, orange pants, and white shoes.

Jun 26, 2023

LinkedIn lays off 716 employees; shuts China app [details]

Microsoft-owned LinkedIn has laid off 716 employees, as the company makes changes to its Global Business Organisation (GBO), along with shutting down its InCareer app in China.

May 9, 2023

Second round of G20 energy transition working group deliberations begin [details]

The Union Ministry of mines is one of the participating ministries in the energy transition working group (ETWG) deliberations under the ongoing G20 presidency of India, whose second round of discussions began Sunday in Gandhinagar, Gujarat.

Apr 2, 2023

Tamil Nadu finance minister P.T.R. Palanivel Thiagarajan

TN Budget: Rs 500 cr allocated for CM's breakfast scheme for schoolchildren

Tamil Nadu Finance minister Dr P.T.R. Thiagarajan on Monday allocated Rs 500 crore towards the Chief Minister's breakfast scheme for government school students in the state.

Mar 20, 2023

Confused with US's SV Bank crisis, besieged SVC Bank threatens legal action

SVB collapse explained: What happens to your deposits in worst-case scenario [details]

Silicon Valley Bank crisis has snowballed into a major concern for investors, startups and VCs. Here's an explainer of the whole issue, what led to the SVB collapse and what comes next.

Mar 12, 2023

wgc q1 2017 report, wgc gold demand, india gold demand, us gold demand, gold jewellery demand, gold prices in india, modi govt

Buying gold jewellery in India has new rule in India; sale without THIS is prohibited [details]

The Bureau of Indian Standards (BIS) has prohibited sale of hallmarked gold jewellery or gold artefacts without the six-digit alphanumeric hallmark unique identification number (HUID) after March 31, 2023.

Mar 5, 2023

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