Author: Henry Evans
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DIIs make net investment of Rs 98,400 crore in Markets During October
Domestic institutional investors (DIIs) have injected a significant amount of funds into the Indian markets, with net investment crossing the Rs 98,400 crore mark. This development has provided a substantial boost to market sentiment, underscoring the confidence of domestic investors in the country’s economic growth story. According to data from the Securities and Exchange Board…
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Meesho’s Revenue Rises 33% to Rs 7,615 Crore in Latest Financial Year
Meesho, India’s leading social commerce platform, has reported a significant 33% year-over-year growth in revenue, reaching ₹7,615 crore for the financial year 2022-23. This substantial increase underscores the company’s expanding presence in the e-commerce market. Meesho’s revenue surge can be attributed to its strategic focus on empowering small businesses and entrepreneurs, particularly in Tier II…
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UK Government Unveils Biggest Tax Rise in 30 Years, £52 Billion
In a significant move, the UK government has unveiled its latest budget, which includes a substantial tax hike of £52 billion, the largest in three decades. This increase aims to address the country’s mounting debt and stabilize the economy. Chancellor Jeremy Hunt presented the budget, outlining measures to tackle inflation, reduce borrowing, and promote economic…
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Swiggy IPO Attracts $15 Billion in Bids from Top Investors, Including Norges and Fidelity
Food delivery giant Swiggy’s initial public offering (IPO) has garnered significant interest from prominent investors, with bids totaling $15 billion, according to a report. This development underscores the enthusiasm surrounding the company’s market debut. Investors such as Norges Bank Investment Management, Fidelity International, and Capital Group have expressed interest in participating in the IPO, the…
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Sensex, Nifty End Samvat 2080 on Muted Note, Down 0.5% Due to IT Stock Decline
The Indian stock market concluded Samvat 2080 on a lackluster note, with the benchmark indices experiencing a decline of 0.5% due to significant losses in IT stocks. The Sensex dropped 345 points to 61,271, while the Nifty50 index fell 91 points to 18,245. The market’s downward trajectory was primarily driven by the IT sector, with…
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Nita Ambani Launches New Health Seva Plan: Free Healthcare for 100,000+ Women and Children
In a groundbreaking move, Nita Mukesh Ambani, Founder and Chairperson of the Reliance Foundation, unveiled the New Health Seva Plan on Saturday, marking the 10th anniversary of Sir HN Reliance Foundation Hospital. This comprehensive initiative prioritizes vital screenings and treatments for children, adolescent girls, and women, providing substantial free healthcare services to marginalized communities. The…
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Swiggy’s IPO Valuation Revised Down to $11.3 Billion, BlackRock and CPPIB to Invest
India’s food delivery giant Swiggy has revised its initial public offering (IPO) valuation downward to $11.3 billion, a 25% reduction from its initial target of $15 billion. This move comes as market uncertainty and the underwhelming debut of Hyundai India weigh heavily on investor sentiment. According to sources familiar with the matter, BlackRock and the…
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Oil Market Relief: Prices to Fall as Israel Shows Restraint in Iran Airstrikes
The oil market is bracing for a potential downturn when trading resumes on Monday, as Israel’s retaliatory strike on Iran over the weekend deliberately avoided targeting Tehran’s oil and nuclear infrastructure, thereby preventing any disruptions to energy supplies, according to analysts ¹ ². This development has significantly alleviated concerns about potential supply chain disruptions. Last…
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Gold, Silver Prices on October 27, 2024: Check City-Wise Rates Now
Gold and Silver Prices Today, October 27, 2024: Precious metals witnessed a mixed trend in India on Saturday, with gold prices edging higher while silver rates declined. The yellow metal’s prices varied across major cities, influenced by local market dynamics and taxes. In New Delhi, gold prices rose by ₹100 to ₹57,400 per 10 grams…
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IPO Listings to Pick Up Ahead of Diwali, 8 Companies to Debut
After a brief lull, India’s primary market is gearing up for a flurry of activity, with eight initial public offerings (IPOs) slated to list during the festive Diwali week. This influx of new listings promises to inject fresh vitality into the market. The near-term IPO pipeline appears robust, with 26 companies poised to raise a…