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Bengaluru: Primus Senior Living has secured $20 million in seed funds from investors led by General Catalyst, said Adarsh Narahari, its founder and managing director. The funding round also saw participation from Nikhil Kamath and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai. «At Primus, we envision a future where ageing is not seen as a burden but as a cherished phase of life. Our goal is to create a vibrant, inclusive ecosystem where seniors are not only cared for but celebrated-surrounded by love, connection, and purpose,» said Narahari.

Abu Dhabi Investment Authority (ADIA)-backed institutional investor Lake Shore has raised over ₹1,200 crore from HSBC Commercial Banking through a sustainability-linked loan for its retail property Viviana Mall in Thane, said persons with direct knowledge of the development. This is the first such fundraising linked to sustainability efforts undertaken for any retail property in the country and among the maiden real estate financing loans availed by any institutional investor in India. The integrated institutional investor has raised the funds through Lake Shore Group entity Salsette Developers that owns the retail property in Thane. HSBC Commercial Banking has provided the loan that was used to refinance the existing lenders and provide liquidity to the company.

India is expected to see steady revenue growth for the next three years, after recent quarterly declines following extraordinary growth in 2023 driven by 5G roll outs, aaid Andres Vicente, Senior Vice President, Market Area South East Asia, Oceania & India, Ericsson. Speaking to ET’s Subhrojit Mallick and Romit Guha, Vicente also backed the view of Indian telcos of a level playing field with satcom companies. Edited excerpts: Opportunities in India… Now that the (5G) infrastructure has been built, we need the adoption of this new infrastructure.

The discussion was moderated by Pradeep S Mehta, founder of CUTS International, who began the session by asking speakers to emphasise on the procedural aspects of policymaking instead of trying to find short-term solutions to complicated political problems. Speaking on the uncertainties of scenarios, he said, “There is a need to look at dynamic variables in scenario building. We will have to focus on the headwinds and tailwinds of the entire process.” The conference delved into various aspects of India's future, with technology emerging as a central theme across all scenarios. Kiran Karnik, former president of NASSCOM, said, “Technology has immense potential to promote decentralisation. Civil society organisations will remain important stakeholders and need to be empowered to conduct independent evaluations.”

Department of Telecommunications (DoT) has prepared a draft cabinet note seeking to waive the requirement of providing bank guarantees (BGs) for securitisation of deferred spectrum instalments, subject to some conditions, officials said. The move follows a request by Vodafone Idea (Vi) for such a waiver, they said. “The BG waiver for next instalment, however, can only be considered if the telco agrees to pay an additional three months’ amount along with the annual payment,” said one of the officials, who did not wish to be identified. If the draft gets cabinet nod, there won’t be any requirement for BGs. But the telcos will have to pay instalments for 15 months annually, with instalments for three more months acting as a security for next year’s payments. Therefore, while Vi has been calling for waiver of the BG requirement, the DoT proposal, if cleared by the cabinet, may see a higher annual outgo for the telco, which has been desperately trying to emerge from a cash crisis, said experts.

«Over-the-top (OTT) communication services have benefited consumers and businesses, but certain regulatory issues have been raised by law enforcement agencies and traditional communications providers, and [so they] should be subject to structured regulations,» Telecom Regulatory Authority of India (Trai) chairman Anil Kumar Lahoti said Wednesday. Speaking on day two of the India Mobile Congress (IMC) 2024 here, he added that regulators globally need to maintain a balance between fostering innovation and ensuring a fair and competitive market, given the cross-border nature of OTT services.

Vodafone Idea (Vi), boosted by equity funding, is set to start rolling out next generation (5G) commercial services by March 2025 across 17 circles, starting with Delhi and Mumbai, and is aiming to reach at least 90% of India's population with 4G coverage by June next year, said its chief technology officer Jagbir Singh. «We are going a little slow (wih 5G), but we will be doing 5G in Delhi and Mumbai first, and of course, all metros and major cities across 17 states (circles),» he told ET. Vi, as part of a revival plan, has raised equity funding of ₹24,000 crore including ₹18,000 crore from a follow-on public offer. The telecom operator has said that the bulk of the funds will be used to beef up 4G coverage and roll out 5G as it strives to become more competitive against rivals Reliance Jio and Bharti Airtel and stop the decline in the number of subscribers.

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Lady Justice' statue, long associated with courts and legal institutions, has been redesigned by the Supreme Court of India as part of an effort to move away from its colonial legacy. Traditionally depicted with a blindfold and a sword, the statue’s updated version removes the blindfold and replaces the sword with the Constitution, signaling a new era for Indian justice.

Gypsy-Rose Blanchard expressed sadness over her late mother Dee Dee Blanchard not getting to know her future granddaughter. In a recent episode of The Viall Files podcast, Gypsy-Rose shared her feelings about the situation. Gypsy-Rose, who was released from prison in December 2023 after serving eight years of a 10-year sentence for conspiring to murder her mother, is currently expecting a baby girl with her boyfriend Ken Urker. She explained, «I do, from time to time, think about what could have been, and it makes me sad.» Reflecting more on the past, Gypsy-Rose mentioned that Kristy, her stepmother, has played a significant role in her life. “Kristy is going to be grandma,” she stated.

Subscribe to enjoy similar stories. A key takeaway from the September quarter (Q2FY25) earnings of HDFC Life Insurance Company Ltd is that pressure on value of new business (VNB) margin continues. VNB margin came in at 24.4% in Q2FY25, down sequentially and year-on-year.

Subscribe to enjoy similar stories. Situated on the outskirts of Chennai, M.A. Velayudham started a chess coaching centre with just 10 students.

Valmiki scam by former Karnataka Minister Nagendra and his aides was allegedly used «during the 2024 Lok Sabha election expenditures to influence voters» and some significant portion of the amount for personal expenses, said the Enforcement Directorate's chargesheet. Significant amounts were channeled towards election campaigns under the direction of Nagendra, and the cash was distributed to party workers and voters in constituencies like Bellary, Kudligi, and Kamp, the chargesheet stated. As per the charge sheet, filed in a special court in Bengaluru, cash was distributed to polling stations in constituencies, with each voter receiving Rs 200 and each polling booth Rs 10,000. «This involved over Rs 15 crores distributed to influence voters.»

Maharashtra government is unlikely to dent the state's financial position, a domestic rating agency said. Icra Ratings' chief economist Aditi Nayar also expects that there will not be a «runaway increase» in spending even though the «rhetoric may be very high». She explained that Maharashtra fares well on the state debt front, and the leverage levels are among the lowest in the country. Concerns have been raised in the recent past over schemes like the Rs 46,000-crore Ladki Bahin Yojana of providing cash handouts to women or the decision to discontinue tolls for cars while entering or exiting the financial capital.

Rakshit Ranjan of Marcellus Investment Managers says markets have run ahead of fundamentals and hence, if one wants to pick up stocks where upside from positive surprises can come, it requires a lot of bottom-up picking rather than any top-down or broader sectoral calls. Further, Marcellus used to have a far greater exposure to specialty chemicals space in some of their funds until about a year, year-and-a-half ago. It is relatively low now. There are some companies in their small and midcap portfolios where supply side issues are much less worrisome now as compared to about six months ago. These are more B2B and export-oriented chemical companies. What are the expectations with respect to earnings because a large part of the Street believes that we had run up ahead of fundamentals and now earnings have peaked and there are chances of more downgrades than upgrades? Rakshit Ranjan: I agree with your broad assessment. There are two types of challenges at the moment in the stock markets that investors should be aware of. One is earnings are going to be adversely affected by weak external macro and hence, a lot of bottom-up stock picking to ensure you pick up only those companies where earnings growth is coming through despite weak macro is required.

Subscribe to enjoy similar stories. MUMBAI : Investment strategies can be aligned with specific factors such as value, quality, momentum, low volatility, alpha, or a combination of these. Value and quality are often viewed as opposing strategies, as they target different characteristics of a company.

TRUST Mutual Fund has launched TRUSTMF Small Cap Fund, an open-ended equity scheme that focuses on small-cap stocks. The new fund offer or NFO of the scheme is open for subscription and will close on October 25. The fund will be benchmarked against the NIFTY Smallcap 250 TRI. The fund will be managed by Mihir Vora and Aakash Manghani.

Global Capability Centers (GCCs) have become major employers for fresh talent, offering salaries up to 30% above the industry average for in-demand skills, a new report has shown. TeamLease Digital, a tech staffing and solutions provider, has shared its insights on hiring trends for FY 2025, highlighting the rising demand across different experience levels, the growing significance of skill development, and the evolving technology landscape. According to the report, freshers can expect a 40% rise in hiring by GCCs compared to last year, while IT services companies project a 20-25% growth in recruitment. The demand for skills in software development, cloud technologies, and data engineering continues to drive these numbers. Mid-level roles such as project managers, data scientists, and cybersecurity professionals show steady demand, with salaries increasing by 7.89% to 10.2% over FY 2024. Senior management roles have witnessed a notable 21% rise in demand, reflecting the strategic need for expertise in DevOps, product management, and data engineering. Salaries for these positions have increased between 6.54% and 10.8%.

Ambuja Cements Ltd. slipped 0.59 per cent to Rs 586.6 in Wednesday's trade as of 01:44PM (IST). The stock hit a high price of Rs 591.35 and low of Rs 576.4 during the session.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. dropped 0.29 per cent to Rs 6089.55 at 01:39PM (IST) in Wednesday's trade. The stock hit a high of Rs 6141.1 and low of Rs 6055.3 so far during the session. The stock had closed at Rs 6107.35 in the previous session. The counter had a total traded volume of 01:39PM shares so far with a turnover of Rs 3.51 crore on BSE. The stock traded at a price-to-earnings multiple of 96.49 and a price-to-book ratio of 6.71.

The blunder occurred when a job seeker applied for a content-related position at Narang’s company. The applicant, instead of submitting a polished cover letter, sent a document filled with placeholder text typically found in AI-generated templates. The letter included phrases like, “I’m proficient in [mention your key skills], and I’m passionate about [explain briefly how you can add value].” It was clear that the candidate had forgotten to replace the placeholders with personal details, making the application incomplete and impersonal.