Track Financial News

startups to traditional Indian business groups, with four out of ten top professionals exiting in the past ten months joining large traditional groups, as unicorns, soonicorns, and other new-age companies seek to clamber out of a grim and protracted funding winter. Since September 2022, about 750 senior executives (CXOs and CXO-1) out of about 5,000 top professionals (with more than Rs 1 crore salary) exited unicorns and soonicorns.

By David Shepardson

By Karen Freifeld and David Shepardson

By Nell Mackenzie

₹4,218 crore. This is the slowest growth seen in the past nine quarters, at least.

₹13,000 crore for the remainder of FY2024 that would act as a further drag on earnings in subsequent quarters," said a report by Kotak Institutional Equities dated 8 August. To be sure, the CIL stock is looking at a muted 2023 after having a stellar run in 2022. Recall that the share prices had risen as much as 54% last year.

During the first quarter of 2023, no new unicorns emerged, unlike the same period in the previous year when 14 startups reached the $1 billion valuation milestone. In fact, a recent report highlighted a significant drop in new additions to India’s unicorn club during 2023, signalling a slowdown in the country’s startup ecosystem.

Campbell Soup is set to buy Sovos Brands, the maker of Rao’s pasta sauces

Clarity of expression by central banks is fairly new. It was the Great Recession of 2008-09 that made them give up ‘constructive ambiguity,’ which routinely got heads scratched over what had been said (or hinted at), in favour of corporate-style ‘forward guidance’ on economic conditions and their policy path. A struggle against stubborn inflation, however, has seen the return of relative reticence, especially after financial markets got rattled by hawkish talk by top bank chiefs.

The mantra for real estate investors has always been “location, location, location.” In the post-pandemic property environment, however, financial advisors are also increasingly being forced to choose between “public” and “private.”

Insurance Australia Group (IAG) sacked a woman consultant Suzie Cheikho-- 18-year career with the company—in February this year for not typing enough while working remotely, The New York Post reported. The company had used keystroke technology to monitor her work from home performance. According to New York Post, the Australia's Fair Work Commission (FWC) has also rejected her "unfair" dismissal application, saying that she was fired for a "valid reason of misconduct".

Pemba Capital is seeking its payday at its insurance premium funding business, Arteva Funding, which it bought just over two years ago.

₹1 trillion for five years, focuses on the replacement, renewal, and upgradation of critical safety assets. An impressive gross expenditure of Rs.

Kalgoorlie | Forrest family-owned Wyloo Metals says its recently acquired nickel mines are running at capacity and that major customer BHP has accepted all deliveries in a sign product quality issues are now under control.

There’s a change of plans at the $2 billion auction for a majority stake in Melbourne’s EastLink toll road. Potential bidders were told last week that sell-side adviser RBC Capital Markets would delay the auction’s start date by nearly two months – from late July to late September.

₹7,505 crore in July 2023 as against an inflow of ₹8,245 crore in June 2023, according to Association of Mutual Funds in India (AMFI) data. As per the AMFI data, ETFs registered an outflow of ₹353 crores in July vs ₹3,402 crore inflows in June. Among the equity mutual fund categories, the small-cap category received the highest inflows of ₹4,171.44 crore, followed by the multi-cap category with ₹2,500.47 crore.

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Investing.com — The U.S. dollar edged lower in early European trade Wednesday, as improved risk sentiment weighed on the safe haven despite fresh signs of Chinese economic weakness.

PB Fintech continued on Wednesday, with the stock falling nearly 10% in the two sessions following its June quarter earnings, where the company narrowed its year-on-year (YoY) losses. On Wednesday, the stock fell 5% in intra-day trade to hit the day's low of Rs 720 on the NSE. The Q1FY24 earnings were followed by reports from top brokerages, including one from the Sydney headquartered Macquarie, which foresees an 'Underperformance' in the stock.

Mahindra & Mahindra Ltd (M&M Ltd) on Wednesday rolled out a new wheel harvester under the Swaraj brand in the domestic market as it looks to tap aggressively the farm mechanisation market in the country. With its latest offering, the brand is aiming for a 15-20 per cent market share in the wheel harvester segment in the long-term, Harish Chavan, Chief Executive Officer at Swaraj Division, said. Manufactured at the company's new farm machinery facility at Pithampur near Indore in Madhya Pradesh, the new 'Swaraj 8200 Wheel Harvester' will be available from the upcoming crop season for the customers through its dealerships pan-India, he said. «The mechanisation in the harvesting space (in the country) is still picking up. We want to give shape to it and that is the reason we want to participate now aggressively as we are participating in tractor segment,» Chavan told PTI. He said that with the tractor industry growth reaching an all-time high, the agri mechanisation sector is also growing very fast and farmers are increasingly adopting mechanisation practices. «We want to make sure that we at Mahindra Group and at Swaraj are able to leverage this opportunity and for this reason we are launching this new wheel harvester,» he said.