Putting behind the controversy around its co-founder Ashneer Grover, fintech startup BharatPe has posted record growth in the fiscal year ended March 31 and is on track to break even and list on stock exchanges in the next 18-24 months, its CEO Suhail Sameer said. In an interview with PTI, he said while the board [...]
New-age entrepreneurs should not to chase valuations but follow their dreams passionately, Raymond Chairman and Managing Director Gautam Hari Singhania has said. Chasing valuation could be "fickle", Singhania said while facilitating the winners of the Raymond CEO Forum on Friday. Today’s businesses believe in ‘cash-burn’ but as a traditional company always believe on ‘cash- flows’, [...]
Housing finance major HDFC Ltd on Friday divested a little over 3 per cent stake in Bandhan Bank, garnering Rs 1,522 crore, through an open market transaction. The transaction comes days after HDFC announced a mega merger with its banking arm HDFC Bank. According to bulk deal data available with the BSE, Housing Development Finance [...]
Edible oil major Ruchi Soya on Friday said it has repaid Rs 2,925 crore loans to banks and has become a debt-free company. Baba Ramdev's Patanjali Ayurved-led Ruchi Soya has recently raised Rs 4,300 crore through its follow-on public offer, and the part of the proceeds has been utilised to repay the debt. Acharya Balkrishna, [...]
Abu Dhabi-based conglomerate International Holding Company will invest USD 2 billion in three green-focused companies of Adani Group, helping tycoon Gautam Adani's units fund expansion plans. Adani Enterprises Ltd, the group's flagship firm, will get Rs 7,700 crore (USD 1.02 billion) by issuing preferential shares to IHC, while Adani Green Energy Ltd (AGEL) and Adani [...]
Equity mutual funds attracted an all-time high net inflow of Rs 28,463 crore in March, on continued interest by retail and HNI investors, who used market correction as a good buying opportunity. The net infusion, which also marks the 13th straight month of net inflow, indicates the underlying bullishness among investors despite record outflow by [...]
The Reserve Bank of India on Friday kept the benchmark interest rate unchanged at 4 per cent and going forward decided to withdraw its accommodative stance to ensure that inflation remains within the target level. Retail inflation is hovering above the RBI's upper tolerance level for the past couple of months. It was 6.07 per [...]
The stock of Ruchi Soya Industries on Friday jumped over 8 per cent after listing of shares of the company pursuant to the Follow on Public Offer (FPO). The stock jumped 7.77 per cent to Rs 882.55 on the BSE. At the NSE, it gained 8.23 per cent to Rs 885. According to a BSE [...]
Fintech firm Bharatpe CEO Suhail Sameer on Thursday apologised for his remarks in a social media post allegedly indicating that former company chief Ashneer Grover has stolen money from the company and little is left to pay the salaries of employees. A Bharatpe employee in a Linkedin post had raised the matter of termination of [...]
Customs officers have seized 5.85 kg of cocaine at the Indira Gandhi International Airport here, the biggest seizure at any Indian airport so far, the Finance Ministry said on Thursday. In the past six months, Customs at the IGI Airport alone has booked no less than 16 cases under NDPS Act, the highest number at [...]
