Shares of Mukesh Ambani-led Reliance Industries (RIL) plunged nearly six per cent — the most since November 2 — after analysts raised concerns over disclosure standards. The country’s most-valuable firm on Friday reported record quarterly profit for the quarter ended December 31, but didn’t disclose gross refining margins (GRM), a key metric to analyse its … Read more
One of the most important questions for investors in 2021 is how to bet on the ongoing economy recovery – even if its course looks uncertain right now. Goldman Sachs is giving its answer. Chief US Equity Strategist David Kostin says he expects success for companies with high operating leverage, or the companies that will experience … Read more
Udaan, the business-to-business (B2B) e-commerce platform, has kick-started the new year with a fund-raise of $280 million, largely from its existing investors including China’s internet giant Tencent. Venture funds Lightspeed Venture Partners, DST Global, GGV Capital and Altimeter Capital are existing investors who have also contributed to this round. There are two new investors — … Read more
Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations. Now flush with $27 billion in fresh capital, Asia’s richest man is under pressure to deliver. The 63-year-old Indian tycoon is focused on a … Read more
Chinese regulators announced measures to crack down on Jack Ma’s Alibaba and Ant Group on Thursday. Beijing will investigate e-commerce site Alibaba, co-founded by Ma, over alleged anti-monopolistic practices, and urge fintech Ant Group to implement stricter financial regulations, regulators said. Ant Group’s IPO, which would have been the world’s biggest-ever, was halted in November … Read more
Amazon CEO Jeff Bezos is now more fully involved in the daily operations of the company, after having spent the past few years almost exclusively focused on long-term projects. Bezos has said he prefers working 2 to 3 years into the future, and he rarely gets pulled into the daily oversight of the company — … Read more
Info Edge on Friday said its investee company Zomato has raised $195 million (about Rs 1,455.4 crore) in funding from six investors including Luxor, Kora and Steadview, valuing the online food ordering platform at $3.6 billion. “Zomato Pvt Ltd has closed a primary fundraise of $195 million from six different investors…The transactions valued Zomato at … Read more
Kishore Biyani’s deal to sell off Future Group assets to Mukesh Ambani’s Reliance Industries for Rs 24,713 crore is now on hold. The Singapore International Arbitration Centre (SIAC) has granted an interim relief in the issue to the Jeff Bezosled Amazon, for now, two people aware of the matter said. Earlier this month, Amazon had … Read more
Driven by industries like pharma, fast-moving consumer goods, education and IT, hiring activity in India saw a growth of 24 per cent in September compared to the previous month, according to a new report by job portal Naukri on Monday. Further opening up of the economy with unlock measures and increased mobility has led to … Read more