Lenskart raises $500 mn from Abu Dhabi Investment Authority at flat $4.5 bn valuation
Eyewear startup Lenskart has raised $500 million in funding from a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA), in what marks one of the largest funding rounds in the recent past, at its existing valuation of $4.5 billion. Lenskart will use the funds to deepen its penetration in India and scale its international presence in Asia and the Middle East. More here
Crude comfort sends Asian Paints, Berger Paints rallying for second straight day
Asian Paints and Berger Paints shares gained for a second straight session on the back of falling crude prices. Oil prices plunged more than $5 a barrel on Wednesday to their lowest in more than a year as unease over Credit Suisse spooked world markets and offset hopes of a Chinese oil demand recovery. Read more here
Paytm’s performance uptick catches analysts’ fancy; Citi sees 80% upside
One 97 Communications, which operates under the Paytm brand, has reported robust growth in its credit business for the month of February, prompting many analysts to revise their price targets for the stock. According to its monthly performance update, the company clocked disbursements of Rs 4,158 crore ($503 million) in February 2023, a robust year-on-year (YoY) growth of 254 percent. More here
How investors can make the most of fixed deposits when rates are high
Financial year 2022-2023 will end soon. Rising interest rates in the Indian economy made fixed deposits (FD) attractive in the past year but as experts see the rate hike cycle coming to an end, this can be a good time to invest in fixed deposits. Details here
Future Retail up nearly 4% after Kishore Biyani withdraws resignation
Share price of Future Retail were trading 4 percent higher on March 16 after the company’s Executive Chairman and Director Kishore Biyani withdrew his resignation which he had tendered on January 23. The withdrawal came after the debt-ridden company said “the resolution professional objected to the contents of (Biyani’s resignation) letter” and requested him to recall the letter. Details here
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