Sector: All Sectors
US Fed rate cut: Full text of monetary policy statement by FOMC
The US Federal Reserve finally cut benchmark interest rate by 50 bps to 4-3/4 to 5% for the first time in four years. This marks the kicking off of an easing rate cycle. The Federal Reserve has held its policy rate in the 5.25-5.50% range since July 2023 as inflation rose to a 40-year high … Read more
Reliance Infra settles Rs 235 cr debt with Edelweiss and Rs 600 cr with LIC
Reliance Infrastructure Ltd announced the settlement of Rs 235 crore in dues owed to Edelweiss Asset Reconstruction Company Ltd (Edelweiss), marking another significant development in the company’s debt resolution efforts. The announcement was made through an exchange filing on Wednesday, at the same time the company stated that it had also reached a Rs 600 … Read more
Tupperware Brands files for bankruptcy as company seeks ‘strategic alternatives’
Tupperware Brands and its subsidiaries have filed for Chapter 11 bankruptcy protection in the US. The company, known for its food storage containers, announced the filing on Tuesday amid increasing financial difficulties. Tupperware president and CEO Laurie Ann Goldman said the company’s financial situation has been severely affected by challenging economic conditions.”As a result, we … Read more
Easy Trip announces two strategic investments
Easy Trip has announced the following two significant investments – 49% stake into Pflege Home Healthcare Center LLC (Pflege) Pflege is a home healthcare provider headquartered in Dubai. Pflege offers comprehensive care services across a wide range of segments, from doctor visits, Registered Nursing care at Home and physiotherapy to home-based medical equipment like ventilators … Read more
Tata Motors taps used car market to boost electric vehicle resale, exchange
The country’s largest electric car maker Tata Motors has started working with used car marketplaces to facilitate resale and exchange for electric vehicle (EV) owners. A company spokesperson told Business Standard, “We have been working on opportunities for facilitating EV resale / exchange for those owners who are looking to upgrade to a new … Read more
AI-led dating platform Schmooze raises $4 million series A round
Schmooze, an AI-powered meme-based dating platform, has closed its series A round of $4 million, led by Elevation Capital. The round also saw participation from angel investors, including the founders of UltraHuman, The Souled Store, Mosaic Wellness, and Paytm. Powered by over 1 billion meme interactions, the platform will use the funding to further enhance … Read more
Poly Medicure raises Rs 1000 cr QIP to fund growth
The QIP was announced last month at a price of Rs 1850-1880/ share (about 11% discount to the then market price). QIP will result in a 5.54% equity dilution Rs 1000 cr will be utlised in the following manner – Rs 500 cr for organic growth. Capex will be completed by FY26. the medtech industry … Read more