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

New Delhi (IANS) 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.

The fundraise brought…

Shoppers Stop stock falls over 10?ter CEO resigns

New Delhi (IANS) The stock price of Shoppers Stop slumped more than 10 per cent on Friday after its CEO resigned.

Shoppers Stop was trading at Rs 727.50, down 10.35 per cent on BSE.

Venu Nair, Managing Director and Chief Executive Officer…

Near term market outlook turns positive

New Delhi (IANS) The near-term market outlook has turned distinctly positive with the US economy’s soft landing narrative lifting sentiments globally and Chandrayaan-3's successful soft landing on the moon boosting sentiments in India, says V.K.…

RBI raises transaction limit for small value offline digital payments to Rs 500

New Delhi (IANS) The Reserve Bank of India (RBI) on Thursday raised the transaction limit for small-value digital payments conducted offline to Rs 500 per transaction from the earlier Rs 200.

"This directive shall come into effect immediately,"…

Indian banks set to reward shareholders with the highest dividend in seven years

New Delhi (IANS) Indian banks look set to reward shareholders with the highest dividend in at least seven years.

The country's banks are forecast to take their share in aggregate payout across all sectors to 13% for the year ending March…

Alternate financing can capitalise on $500 bn SME credit opportunity in India

New Delhi (IANS) Digitised businesses in India have a potential credit demand of $220 billion, out of which $165 billion is serviceable today after adjusting for sick and commercially unviable businesses, a report showed on Thursday.

In the…

India's growth rate expected to be highest in near future: Finance Secretary

New Delhi (IANS) India's growth rate is expected to be the highest in the near future, which will make it one of the biggest development opportunities, Finance Secretary T.V. Somanathan was quoted as saying at an event, according to reports.

FPIs not required to make additional disclosures to SEBI if investments are cut down to meet threshold

New Delhi (IANS) Markets regulator SEBI has prescribed that additional disclosures shall not be required to be made by FPIs in case their investments are realigned with the prescribed thresholds.

The provisions of this circular shall come into…

Institutional and retail money chasing mid and small caps

New Delhi (IANS) A significant feature of the market trend is the outperformance of the broader market, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

While the Nifty is up 7.13 per cent year to date, the Nifty…

Amazon India introduces farm-to-fridge quality assurance system

New Delhi (IANS) Amazon India on Wednesday introduced a shelf monitoring solution -- a Machine Learning (ML) powered farm-to-fridge quality assurance system for fresh produce.

With this launch, the tech giant aims to enable its sellers to meet…