Cred revenue grows 3.5x to Rs 1,400 crore, losses widen 5% to Rs 1,347 crore in FY23
While Cred has raised over Rs 8,000 crore to date, its cash reserves now stand at around Rs 2,050 crore. Based on its FY23 losses, this cash runway would last for the next three years.
Live: US bond yields ease | ED summons Ranbir Kapoor | ICC world cup kicks off | Newspresso
Wall Street finally saw some green! Stocks were aided by a retreat in Treasury yields. The Dow jones rose 0.39% and snapped a three-day losing streak. Moving onto India, where the Enforcement Directorate has summoned Actor Ranbir Kapoor as it probes the mahadev betting app case. Along with Ranbir Kapoor there are several other celebrities who are being questioned linked to Fairplay. And to one of the most exciting events for the year, ICC World Cup will begin today. For the latest updates across the globe watch today’s edition of Newspresso with Moneycontrol’s Stacy Pereira.
Kellanova completes cereal business split; begins new snacks-led era
This move results in the establishment of two autonomous public firms, each primed to realize its unique potential.
PayU India's CEO Anirban Mukherjee elevated to global CEO role
The move is part of the fintech major's India-centric approach as PayU is looking to list in India sometime next year and looking at a valuation of $6-6.5 billion
Easy Trip Planners - Announcement under Regulation 30 (LODR)-Press Release / Media Release
EaseMyTrip paves the way for India''s sporting future as the official travel partner for CARS24 Yuva kabaddi Series 2023
Easy Trip Planners Limited
8Easy Trip Planners Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 29, 2023. Further, the company has informed the Exchange regarding voting results.
Live: Can Nifty reclaim 20k in October? Vedanta in focus on 6-way split| Auto Sales, JSW Infra listing
Indian markets staged a smart recovery a day after clocking a 1 percent cut on September 28. Key indices managed to close the week only 0.2 percent lower. The Nifty settled 0.18 percent down at 19,638 and the Sensex was down 0.27 percent at 65,828 for the week. Within sectors, Nifty Realty and Nifty Pharma were the top gainers while IT and Consumer Durables were the top losers. Meanwhile, the broader markets remained buoyant with Nifty Midcap 100 and Nifty Smallcap 100 gaining 1 percent and 2.18 percent for the week, respectively. With the onset of October, market experts believe that the ‘sell on rally’ market construct is likely to change, pushing Nifty back towards the psychological 20,000 mark. This morning global cues are mixed with both Wall Street futures and Asian markets trading sideways to higher. The GIFT Nifty is hinting at open below 19,600. Meanwhile, today the market will react to September auto sales numbers and Vedanta’s announcement of a demerger into 6 listed entities. Also in focus will be RK Forgings after board approval to raise funds via QIP. 2 new listings to wath out for today – JSW Infra and Vaibhav Jewellers. Catch Nandita Khemka in conversation with Rakesh Arora, Managing Partner - Go India Advisors and Sacchitanand Uttekar, Tradebulls Securities.
Morning Scan: All the big stories to get you started for the day
A round-up of top newspaper stories to keep you ahead of others.
Morning Scan: All the big stories to get you started for the day
A round-up of top newspaper stories to keep you ahead of others.
LIVE: Worst month for wall st |Jaishankar-Blinken meet |Michael Gambon aka Dumbledore no more |Newspresso
On Thursday, stock prices experienced an uptick as Wall Street aimed to recover from significant losses earlier in the month. This month and quarter have presented challenging conditions for stocks, with the Dow expected to conclude September down by 3% and the quarter by over 2%. Amid the diplomatic tensions between India and Canada regarding the killing of Khalistani terrorist Hardeep Singh Nijjar on Canadian soil in June this year, S Jaishankar, India's External Affairs Minister, has met with US Secretary of State Antony Blinken in Washington . The esteemed actor Michael Gambon, renowned for his depiction of Hogwarts headmaster Albus Dumbledore in six out of the eight Harry Potter films, has passed away at the age of 82. Catch Stacy Pereira as she brings your daily dose of Newspresso
Zerodha is valued at Rs 30,000 crore or 10-15 times its earnings: CEO Nithin Kamath
Kamath also expects Zerodha to grow at around 10-15% in the present market condition. He also added that the firm's diversification strategies will help in maintaining the long-term growth of the company
Dr Reddy’s to set up subsidiary for nutraceuticals, supplements
In July, the company forayed into child nutrition with the launch of CeleHealth Kidz Immuno Plus Gummies in the Indian market
P&G India announces Rs 300 crore fund to boost supply chain ecosystem
The fund seeks to offer start-ups and innovators a platform to collaborate with P&G focusing on tailor-made business solutions while emphasising on agility, flexibility, scalability, transparency and resilience
Cred enters new business segment, launches vehicle management service
Cred Garage is a feature within the Cred App and will be rolled out to all its members starting 28th September
Live: Nifty gears up for a wild ride on F&O expiry day; RIL, Vedanta, Dixon in focus; Yatra lists
Indian equity market saw a sharp rebound from its 50-day EMA placed at around 19,550. Experts say the Nifty50 may face hurdle at 19,800-20,000 levels in coming sessions, with support at 19,600-19,500 area. The BSE Sensex climbed 173 points to 66,119, while the Nifty50 was up 52 points at 19,716, after consolidation in previous two sessions, ahead of monthly F&O expiry. After the rangebound movement in the last few sessions, the market witnessed a sharp intraday upside bounce. The broader markets also traded higher with the Nifty Midcap 100 index jumping 0.75 percent and Smallcap 100 index gaining nearly 1 percent. This morning global cues hint at a muted start with mixed cues from Wall Street and Asia trading with a positive bias. Crude prices surge past the $97/barrel mark amid tighter supplies and US yields hit a fresh 16-year high. Stocks in focus will be RIL, Vedanta, MCX & Dixon Tech among others. Meanwhille, Yatra Online will make its stock market debut today. We also put the spotlight on IT stocks after Morgan Stanley’s bullish view. Catch Nandita Khemka in conversation with Omkar Tanksale- Senior Research Analyst – IT, Axis Securities and Shivangi Sarda, Analyst- Equity Derivatives & Technicals, Broking & Distribution, MOFSL.
LIVE: Brent oil at $98/bbl | AFSPA extended in Manipur | Trevor Noah cancels B'luru show |Newspresso
The crude oil prices have experienced a significant increase, reaching a peak not seen in 10 months and surpassing $90 per barrel. This surge is attributed to the concerted efforts of Saudi Arabia and Russia to limit oil supply by withdrawing barrels from the market, resulting in a depletion of oil stocks. the Armed Forces (Special Powers) Act, known as AFSPA, was renewed for an additional six months in Manipur. The Bengaluru performances of comedian and TV show host Trevor Noah have been called off. Noah, initially scheduled to perform in Bengaluru on the evening of September 27th, made this announcement earlier on his social media platform, X. Catch Stacy Pereira as she brings your daily dose of Newspresso.
Morning Scan: All the big stories to get you started for the day
A round-up of top newspaper stories to keep you ahead of others.
Peak XV-backed Bright Money raises $62 million in equity-debt mix
The startup plans to utilise the funding towards product building and hiring across teams like product development, technology, analytics, and support functions.
Glenmark gains on inking distribution agreements for acne cream in Europe, South Africa
Glenmark Specialty SA signed an agreement with Cosmo Pharmaceuticals NV for the distribution of Winlevi in Europe and South Africa. Glenmark will be responsible for the registration of the product in South Africa and in the UK
Apollo acquires hospital in Kolkata for Rs 102 crore
This is Apollo's second hospital in Kolkata, and its location will complement the clinical offering in its flagship hospital in the city.
Stock market veterans on overvalued pockets in the Indian stock market and how to be cautious | Experts' Take
Industry experts share their views on the overvalued pockets of the Indian stock market and help understand how to be cautious while dealing with various sectors. Watch to know more.
LIVE: Sept slump for mkts|Lay-offs coming at Byju's|Dadasaheb Phalke for Waheeda Rehman |Newspresso
Wall Street falls sharply as its September slump gets worse. The Wall Street saw a sharp drop for stocks. The S&P tumbled 1.5% for its fifith loss in six days. Bollywood legend Waheeda Rehman to win India's most prestigious award, DadaSaheb Phalke Award. Catch Stacy Pereira live on Newspresso to know more.
News18 network, Federal Bank Hormis Memorial Foundation & Tata Trusts to launch ‘Sanjeevani’ to address rising cancer cases
The initiative focuses on empowering and supporting individuals to confront these fears and actively fight cancer. Cancer cases in India is projected to go up from 14.6 lakh in 2022 to 15.7 lakh in 2025, according to the Indian Council of Medical Research-National Cancer Registry Programme (ICMR-NCRP)
SaaS-accelerator Upekkha shifts gears to AI-focussed fund, launches new AI startup cohort
Upekkha’s new cohort will have 40 startups which will receive an investment of $125,000 each. The platform will adopt a Y Combinator approach to equity and deployments
