Business

New Delhi: Online food delivery platform Zomato on Friday announced it had acquired quick-commerce platform Blinkit for Rs 4,447 crore (about $568 million) in an all-stock deal. Zomato already owned more than 9 per cent stake in Blinkit (earlier Grofers). While the earlier Blinkit deal value was around $700 million, the drop in Zomato’s share […]

Hyderabad: Riding on Telangana Government’s push to alternate crops like palm and oil seeds, Hyderabad-based Gemini Edibles and Fats India has decided to set up an integrated edible oil manufacturing plant in Telangana with Rs 500 crore in about 50 acre. It will have a 1,000 tonne per day capacity, said Pradeep Chowdhry, Managing Director […]

New Delhi: Ashneer Grover, who was sacked along with his wife Madhuri Jain Grover by fintech platform BharatPe over alleged financial irregularities, has slammed the Reserve Bank of India (RBI) over its latest directive to non-bank prepaid payment instruments to stop loading credit lines onto their products. In a tweet, Grover said that “not allowing loading […]

Mumbai: Recovering from its record low, the rupee opened 12 paise up at 78.20 against the US dollar on Friday, tracking a pullback in crude oil prices. At the interbank foreign exchange, the rupee opened at 78.20 against the American dollar. In initial trade, the local currency witnessed a high of 78.19 and a low […]

New Delhi: Domestic equity benchmark indices extended their gains from the previous session and rose substantially in morning session on Friday. During the previous session, the indices closed with a gain of around one per cent in volatile trade, guided by strong buying support in auto and IT stocks. “Today, markets are likely to get […]

New Delhi: Leading “chai” (tea) cafe chain Chaayos on Thursday announced it has raised $53 million in Series C funding led by Alpha Wave Ventures. The company said it will use the money for tech-enhancement, hiring and store expansion. The latest round saw participation from existing investors Elevation Capital, Tiger Global and Think Investments. Founded in […]

Mumbai: Recovering from its record low, the rupee inched higher by 9 paise to 78.23 against the US dollar in early morning trade on Thursday. At the interbank foreign exchange, the rupee opened at 78.26 against the American dollar, then inched higher to quote at 78.23, registering a rise of 9 paise from the previous […]

New Delhi: After a substantial slump in the previous session, domestic equity benchmark indices opened on Thursday on a positive note. Sensex slumped 709 points the previous session, dragged by a selloff in heavyweight Reliance Industries shares. “Today, markets are likely to make cautious start amid weak global cues. Traders will be concerned as the […]

Hyderabad: With an aim to develop solutions for some of the critical areas of Indian Railways, the South Central Railways has invited T-Hub with regard to the Startups for Railways initiative. The SCR general manager Arun Kumar Jain met T-Hub CEO M Srinivas Rao and his team for the same. Indian Railways has introduced this […]

Hyderabad: Hyderabad-based technology solutions company Cyient has announced the launch of an AI-powered framework for automated system and software testing (CyFAST) so as to accelerate end-to-end test automation. The platform will enable end-to-end test automation across web, mobile, desktop, and embedded application and hardware devices, providing a comprehensive environment for managing testing projects.| Smart and […]

New Delhi: Large developers in the renewable energy sector have enough options to boost returns even as challenges mount and will fight aggressively in the various auctions scheduled in 2022, a new report by the Institute for Energy Economics and Financial Analysis (IEEFA) said on Wednesday. Falling costs of solar modules, which in turn brought […]

Stockholm: Due to rampant inflation, Sweden’s economic growth is expected to dramatically slow down this year and next, according to a report released by the National Institute of Economic Research (NIER). According to the government agency’s latest prognosis on Tuesday, economic growth is projected to slow to 1.9 per cent this year and 1.2 per cent […]

Hyderabad: City-based iGRiD, a direct-to-consumer brand with products in health, electronics and beauty segments, has plans to add more products. It now has 75 stock keeping units and it wants to increase it to 450 this year. Also, it has drawn up plans to set its own manufacturing unit in Hyderabad as the demand increases, […]

Hyderabad: GMR Infrastructure Limited (GIL), a listed entity of GMR Group, on Tuesday announced that it would give priority in jobs to Agniveers in its subsidiary Raxa Security Solutions Ltd. Raxa Security Solutions Ltd is a premier security company of the GMR Group and provides man-guarding services, techno security solutions, fire services and cyber security […]

Hyderabad: FMC Technologies has set up a library with books and donated sports materials and a sanitary incinerator to the Zilla Parishad High School in Peerzadiguda of Medchal district as part of its CSR activities. The new library was inaugurated in the presence of the school authorities and FMC officials here on Tuesday. The FMC […]

New Delhi: Fake cryptocurrency exchanges have duped Indian investors of more than $128 million (nearly Rs 1,000 crore) as the global crypto market tanks, a new report claimed on Tuesday. Cyber-security company CloudSEK said it has uncovered an ongoing operation involving several phishing domains and Android-based fake crypto applications. “This large-scale campaign entices unwary individuals […]

Chennai: Travel major Thomas Cook (India) Ltd on Monday said the Sub-Committee of the Board of Directors, has approved the conversion of the balance Rs 132.9 crore Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) held by the promoter Fairbridge Capital (Mauritius) Limited (FCML), into 2.8 crore equity shares. The Company had earlier converted Rs 302 […]

Chennai: About 1,100 workers have resumed work at the Ford India Private Ltd’s Maraimalainagar plant near here even though an agreement between the workers’ union and the management on severance package has not been reached, sources said. “There is no progress in the talks with the management on the severance package. However, workers have started […]

Mumbai: Equity indices started the trade on a firm note on Monday with the Sensex climbing 254 points, but within minutes, the benchmarks pared all early gains to trade in the negative territory. The BSE benchmark was trading with a jump of 253.69 points at 51,614.11 in early trade. The Nifty too gained 69.6 points […]

Mumbai: The rupee strengthened by 12 paise to 77.93 against the US dollar in opening trade on Monday as easing crude oil prices supported the local unit. However, unabated foreign fund outflows, a lacklustre trend in domestic equities and strong American dollar overseas restricted the gain, forex dealers said. At the interbank foreign exchange, the […]

Hyderabad: Premier management institute Indian School of Business (ISB), which has its campuses in Hyderabad and Mohali, is working to create a global corridor for startups. This will allow Indian startups to pursue business opportunities in other countries and vice versa. It also is looking to draft its alumni members as mentors to nurture startup […]

San Francisco: Twitter employees are sceptical about their future after Elon Musk addressed them this week, saying they are doing their best to stay focused on work. The future of Twitter hangs in the balance and employees’ reaction after the virtual meeting with Musk was “mostly negative,” reports The Verge. Musk told Twitter employees that […]

New Delhi: As foreign portfolio investors continue to pull out money from the Indian equity market, the sell-off in the crypto market and the digital asset space has also accelerated in the wake of global economic meltdown. More than $200 billion were wiped off the entire cryptocurrency market this week and the globally crypto market […]

Hyderabad: Covid vaccine maker Bharat Biotech International Limited (BBIL), announced that its Covaxin (BBV152), has proven to be safe, well-tolerated, and highly immunogenic in paediatric subjects in phase II/III study. The study has been accepted and published in Lancet Infectious Diseases, a peer reviewed journal. Bharat Biotech had conducted phase II/III, open-label, and multi-centre study […]