Aware Financial News

Dunzo is seeking at least $20 million (about Rs 165 crore) more from Reliance Retail, its largest shareholder, after the cash-strapped quick commerce startup fell short of its target to raise $75 million by offering convertible notes, people aware of the discussions said. The Bengaluru-based firm could raise just about $45 million in April, as reported first by ET, with only Reliance Retail and Google subscribing to the convertible notes and its other shareholders staying away. This, the people said, has caused an adverse cash flow situation at the company.

SEBI) has sent a grim reminder to its officials that they could face «appropriate action» for divulging confidential information to «outsiders», including former colleagues. Such sharing of information could be construed as a «breach of secrecy», said an internal circular issued by the capital market regulator last week.

OneCard and Bengaluru’s WintWealth have applied for licences to operate as non-banking finance companies, people in the know said. These startups intend to join fintech majors such as Cred, Groww and Jupiter that have recently bagged the lending licences.

Tamil Nadu has pipped Maharashtra and Gujarat to emerge as the top state in the Niti Aayog’s Export Preparedness Index 2022 which assesses the readiness of the states in terms of their export potential and performance.  Gujarat had topped the chart in the last two rankings. The index released on Monday showed that Tamil Nadu with an overall score of 80.89 topped the third edition of rankings while Maharashtra with a score of 78.20 was second while Karnataka (76.36) was third.  Gujarat with a score of 73.22 was fourth, followed by Andhra Pradesh, Odisha, West Bengal and Kerala in that order in the ranking of coastal states, according to the government think tank’s report released on Monday. Among hilly/Himalayan states, Uttarakhand (59.13) has ranked at the top position.

New Delhi: Paris-headquartered independent content creation company Banijay Group has bought out media-focussed venture capital fund CA Media’s 49% stake in one of India’s leading production studios Endemol Shine India post a three-year arbitration process. CA Media initially picked up 49% in Endemol Shine India, the producer of reality shows such as Bigg Boss, Fear Factor Khataron Ke Khiladi and The Great Indian Laughter Challenge, in March 2012 for around $20-25 million.

NEW DELHI : Large rice companies, traders and exporters are rushing to secure letters of credit (LCs) for future shipments, fearing that rising prices may trigger export curbs on non-basmati varieties, three people aware of the matter said. Securing LCs will enable these entities to export rice varieties even after the announcement of a ban, as seen earlier in the case of the ban on broken-rice exports in September last year. Concerns of export curbs and the additional LCs may push up India’s overall rice exports in July.

Indo-Pacific Economic Framework (IPEF) by the end of the year. While the legal scrubbing of the Supply Chain Agreement — which was finalised in May — is on, discussions are moving fast on the clean economy and fair economy pillars, said people aware of the matter.

A senior Football Australia executive has backed the Matildas’ demands for pay parity for female players and improvements to the FIFA prizemoney gap, as disputes between some teams and national federations threaten to derail their Women’s World Cup campaigns.

Ganesha says there will be peace of mind. Most of the time today will be spent in study. Happiness will be maintained in the mind when an important work is completed on time.

₹1.5 trillion investment in the current fiscal under the hybrid and EPC route, with the share likely to be 65% and 35% respectively. With investor interest in building greenfield highway projects continuing to remain low, the National Highway Authority of India is unlikely to award projects on build operate transfer (BoT) mode in FY24 and continue to rely on tested HAM and EPC models, two persons aware of the development said.

The upcoming infrastructure developments in the Delhi-NCR region are slated to act as significant catalysts for the local real estate sector. These infrastructure projects will enhance connectivity, accessibility, and overall livability of the region, making it an attractive destination for real estate investments, says Sunil Sisodiya, Founder, Geetanjali Homestate.

Andhra Pradesh recorded GST revenue of Rs 7,653 crore in the first quarter of financial year 2023-24, an increase of 24 per cent over the corresponding quarter in 2022-23, officials said. They apprised Chief Minister Y S Jagan Mohan Reddy regarding this income during a review meeting on revenue generating departments, noting that this GST revenue is excluding compensation.

Stocks finished the week higher following the CPI report, which showed softer than expected core CPI. Again, as I have noted a few times, the stock market inflation fantasy will get harder from here. The easy comparables are now behind us, and to see the headline inflation rate finish the year around 3%, prices will need to be flat for the year’s balance.

Americans’ growing paychecks surpassed inflation for the first time in two years, providing some financial relief to workers, while complicating the Federal Reserve’s efforts to tame price increases. Inflation-adjusted average hourly wages rose 1.2% in June from a year earlier, according to the Labor Department. That marked the second straight month of seasonally adjusted gains after two years when workers’ historically elevated raises were erased by price increases.

India is on the rise. The increase in its economic...

Sheela Foam, India’s largest home mattress manufacturer, is set to acquire rival Kurlon Enterprise, the maker of Kurl-on mattress, and furniture rental company Furlenco said multiple people aware of the development. The announcement to buy stake in both companies is likely to be announced in the next few days. Sheela Foam will acquire Kurlon Enterprise at a valuation of Rs 2,200 crore while it would infuse a primary fund of Rs 350-400 crore to buy controlling stake in Furlenco at a valuation of Rs 1,200-1,500 crore, the people said on condition of anonymity.

Morgan Stanley analysts hiked the price target on Apple (NASDAQ:AAPL) stock by $30 to $220 per share as they believe India can become an emerging growth driver for the Cupertino-based titan.

Reward points are crucial to help you make the maximum use of your credit card spending. Often, cardholders use these reward points for availing discounts on travel, hotel bookings, purchasing apparels, and jewellery, among others.

personal loans and credit cards, which are largely unsecured, rose the sharpest. But what’s more alarming is that delinquency in this category has risen for personal loans compared to pre-COVID levels. Now the burning question of the hour -What do you do next if you are a defaulter? This can be a very stressful experience for many people who don’t know how to handle harassment from loan recovery agents.

₹2,378 crore. The Home Minister requested the chief minister and governors of all states to take similar steps. “ I request all Chief Ministers and Lieutenant Governors to implement this step in all states...the biggest step to win this fight is to create maximum awareness.

Also read: Uttarakhand: Unrelenting monsoon rains halt Kedarnath Dham Yatra; IMD issues red alert To reinforce these rules, warning boards have been installed at various locations in Kedarnath to ensure visitors are aware and comply with the regulations. The temple committee is determined to uphold the sacredness of the site and has taken a firm stand against any actions that may adversely impact its religious significance.