MUMBAI: Four early investors in Billionbrains Garage Ventures that operates the leading fintech platform Groww, are together selling 4.3% stake worth about $500 million (close to Rs 4,800 crore) in the recently-listed company. Peak XV, Sequoia, Y Combinator and Ribbit, the selling shareholders, have mandated Kotak Securities and JP Morgan India to sell the shares…
MUMBAI: Investors continued to invest in equities, debt and gold through the mutual fund route despite volatile markets due to geopolitical tensions. In April, net inflows in equity funds were at Rs 38,440 crore, down marginally from Rs 40,450 crore in March while the corresponding figure in debt funds showed a huge reversal with a…
A day after Prime Minister Narendra Modi’s call for austerity measures to curb fuel consumption, including reviving work-from-home, companies have begun reviewing the possibility of getting at least some employees to come to office on fewer days.Large conglomerates, including the Tata Group and Reliance Industries, are reassessing workplace policies and exploring greater flexibility for employees…
Wall Street’s main indices traded cautiously on Monday after last week’s record-setting rally as renewed concerns over stalled US-Iran peace talks and rising oil prices weighed on investor sentiment, Reuters reported.The Dow Jones Industrial Average was nearly flat in early trade, slipping 3.54 points, or 0.01 per cent, to 49,605.62.The S&P 500 rose 11.38 points,…
Net inflows into equity-oriented mutual fund schemes declined 5 per cent month-on-month to Rs 38,440 crore in April, while contributions through Systematic Investment Plans (SIPs) also moderated, according to data released by industry body AMFI on Monday, PTI reported.Equity mutual funds had attracted net inflows of Rs 40,450 crore in March.Monthly SIP contributions slipped to…
In its sharpest single-day fall in more than a month, the rupee tumbled nearly 0.9 per cent to close at a record low of 95.31 against the US dollar on Monday as surging crude oil prices and escalating US-Iran tensions rattled financial markets, Reuters reported.The currency slide came after US President Donald Trump rejected Iran’s…
The government on Monday addressed concerns related to India’s energy supplies amid the tightening situation in the Strait of Hormuz and reiterated Prime Minister Narendra Modi’s appeal to all citizens to reduce their consumption of petrol and diesel. At an inter-ministerial meeting, Sujata Sharma, joint secretary for ministry of petroleum & natural gas, said, “I…
A day after Prime Minister Narendra Modi urged Indians to stop buying gold for a year in the national interest, GTRI backed the appeal, saying surging gold imports are straining India’s foreign exchange reserves and widening its trade imbalance. In its report, the think tank said, “GTRI has supported Prime Minister Narendra Modi’s appeal asking…
Gold prices slipped on Monday as uncertainty over stalled US–Iran peace talks and rising oil prices fuelled fresh inflation concerns, reducing expectations of near-term interest rate cuts. Spot gold fell 0.6% to $4,684.32 per ounce, while US gold futures for June delivery declined 0.8% to $4,692.70. The weakness came as escalating Middle East tensions pushed…
Union minister for road transport and highways Nitin Gadkari on Monday inaugurated Multi Lane Free Flow tolling on Delhi’s Urban Extension Road-II (UER-II), bringing the capital’s latest transport corridor into India’s expanding barrier-less toll network. The move is aimed at boosting connectivity while easing travel for adjoining villages and surrounding habitations. The UER-II rollout follows…