Bullets

After entering the unicorn sector, Zepto has raised $31 million (around ₹2,54.82 crore) in an extended funding round. Mumbai-based quick commerce platform raised funds from existing investors StepStone Group and Quickwater Capital.

Zepto’s valuation of $1.4 billion (₹11,620 crore) remains the same as the last funding round in August.

Looks like India's new unicorn is seeing a smooth sail in the challenging startup sector. Click here to learn more about Zepto and its business model. 

Reliance Industries Ltd. is planning to raise the largest ever domestic bond sale worth ₹20,000 crore. This issuance is the biggest ever by a non-entity BFSI firm.

The issue will have a base size and a green shoe option of ₹10,000 crore each and will take place on 9 November from 10:30–11:30 AM through the electronic book mechanism on the BSE's bond platform. 

Rated “AAA” the bonds will have a 10-year maturity as per CRISIL and Care ratings. Learn about RIL’s future plans by clicking here.

Flipkart’s Founder, Binny Bansal, is all set to launch a startup that would provide AI-as-a-service to global customers. The startup is reportedly headquartered in Singapore, with its primary operations being handled from Bangalore, India.

As of now, the startup is in stealth mode and will target the Indian e-commerce market first.

According to the Economics Times, this startup might offer its services in the second half of 2024.

Bansal sold Flipkart to Walmart Inc. along with many other investors. What's the sore spot in Flipkart that investors don't like? Read here to know more.

With the brewing controversy around Mahadev App Online, MeitY and ED established a ban on 22 illegal betting apps and websites.

Assets worth ₹417 crore were seized a few weeks earlier related to the Mahadev betting app in Chhattisgarh. This ban follows the previous decision to close down over 400 gaming and betting apps nationwide on privacy and corruption grounds.

MeitY is showing no mercy to rule breakers when it comes to citizen’s privacy. Read this article to learn of other astounding initiatives by them.

Managing Director and CEO of Zee Entertainment Enterprises, Punit Goenka, can finally take a breath of relief after months of regulatory ban being overturned.

The Securities Appellate Tribunal (SAT) imposed a ban on Goenka, stopping him from holding a key managerial position in the firm. This caused the most awaited merger, the Zee-Sony Merger, to be delayed yet again.

Looks like the merger might finally be finalised by the end of the year.

Click here to learn how the Zee-Sony merger came out to be and what the consequences are.

Providing exposure to Indian game developers, Nazara Technologies launched a game publishing platform. The company plans to capitalise on the “Make in India” project.

As part of this initiative, Nazara Technologies will be launching 20 games from developers all over the nation and partnering with global developers to create a flowing system. 

This plan will likely give Indian gaming developers a big opportunity to snatch customers from around the world.

Alongside, read how the gaming industry is faring after applying 24% GST by clicking here.

The health-tech firm conducted a rights issue to raise ₹3,500 crore, opting for a share price 90% below its peak value to manage its debt. 

Despite being a leader in e-pharmacy, its current valuation is around $500 million-$600 million, notably lower than the previous peak of $5.6 billion in 2021. 

We have an interesting article on Why Investing in the Pharmaceutical Industry is not always the right idea. Make sure to give it a read.

US-based brokerage firm JP Morgan changed India's status from ‘neutral’ to 'overweight’ after the recent market dive. Indian stock market dropped by 7% in the past week, resulting in a loss for investors in lakh crores.

With this, JP Morgan advised the investors to take advantage of the dip by leveraging on additions.

Interestingly, the brokerage firm added Sun Pharma, Bank of Baroda, and Hindustan Unilever to its EM model portfolio.

Meanwhile, read how the global currencies are faring in the rapidly changing market here.

Reliance Industries Ltd. Chairman’s children, Isha, Akash, and Anant Ambani, received the proprietary nod as non-executives of the board. On the same side, RIL released its Q2 annual reports showcasing a Y-o-Y net profit rise of 30%.

With a consolidated net profit of ₹19,878 crore in the second quarter, RIL maintained its position as India's most valued company. 

Looks like the new generation of Reliance Group will have big shoes to fill. 

Click here to learn more about RIL's upcoming plans.

Ola Electric recently closed a fundraising round, securing ₹3,200 crore, with participation from Temasek and SBI, among others. 

This funding, consisting of both equity and debt, will support Ola's EV business expansion and the establishment of its gigafactory in Tamil Nadu. 

Despite some scepticism from investors due to concerns over scooter quality and a rumoured IPO, Ola Electric's valuation has risen to approximately ₹44,410 crore ($5.4 billion) from its previous $5 billion valuation in January last year.

Read here to know about the Upcoming IPOs in 2023-24.

Telecom company Vodafone Idea's loss fattened from ₹7,595 crore to ₹8,737 crore last September. Loss occurred despite an increase in revenue of ₹10,716 crore from ₹10,615 crore from the previous year.  

Factors like Net Interest and Finance Costs saw a rise from ₹6,033 crore to ₹6,534 crore for the quarter, leading to the widening of loss.

With ₹2.127 lakh crore debt as of September 2023, Vi’s troubles seem never-ending.

Meanwhile, read which foreign brand is having trouble entering India by clicking here.

ICRA, the rating agency, predicts the hotel industry will see robust revenue growth in FY24, driven by increased domestic and international travel. 

The G20 summit and ICC World Cup 2023 have also contributed to the sector's growth. It anticipates premium hotel occupancy rates of 70-72% and average room rates of ₹6,000-6,200. 

The medium-term outlook remains promising with improved infrastructure, air connectivity, demographics, and new convention centres. 

Is the hotel industry on the path to a strong recovery?

Valiant Communications has secured an international contract with Bhutan Power System Operator (BPSO) through a partnership with Tejas Networks, a Tata Group company. 

This collaboration includes the supply of Communication, Protection, and Synchronisation solutions. 

Valiant is also looking to explore more global opportunities in partnership with Tejas due to Tata Group's extensive reach. 

Additionally, Tejas has placed extra orders for the Indian utility market, totaling ₹608 lakh. For detailed analysis of the company, click here.

Shares of Vedanta rose 2% to ₹219.40 after announcing Ajay Goel as its new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective October 30, 2023. 

Goel returns to Vedanta as part of the "Gharwapsi" re-hiring program. He served as acting CFO & KMP from October 23, 2021, to April 09, 2023. 

Goel departed from Vedanta earlier this year to join Byju's, from which he left after six months.

For in-depth insights into Vedanta Ltd, read this article.

Delta Corp shares surged over 8%, reaching ₹140.65, as the Bombay High Court instructed the Directorate General of GST Intelligence, Hyderabad, to withhold final decisions on tax show cause notices to the company and its subsidiaries. 

The notices alleged tax payment discrepancies by Delta Corp and its subsidiaries, Highstreet Cruises and Entertainment Pvt. Ltd, and Delta Pleasure Cruise Company Private Limited. 

Curious about the impact of the GST hike on Delta Corp Ltd.? Click here.

Honasa Consumer Pvt. Ltd., the parent company of Mamaearth and others, has announced launching an IPO worth ₹1,700 crore on 31st October.

With a fresh shares issue worth 365 crore, Honasa Consumer IPO also includes 4.12 crore offer-for-sale shares. With this, the unicorn firm Honasa Consumer plans to reach a valuation of ₹10,500 crore.

IPO of The Derma Co and BBlunt’s parent company is said to be the most anticipated IPO in the Indian consumer segment.

Check out the list of other most awaited IPOs of the fiscal year and see their growth prospects by clicking here. 

The stock market is in uproar after the US treasury yield crossed the 5% mark. Bombay Stock Exchange (BSE) Sensex has been down by 825.74 points, causing investors a loss of around ₹7.7 lakh crore.

On the other hand, the National Stock Exchange (NSE) NIFTY dived down by 260 points.

Apart from the US bond yield, factors like the ongoing Israel-Hamas war, oil price surge, and turmoil in the global market are the reasons for such downfall.

Reserve Bank of India received a recommendation from the Ministry of Electronics & Information Technology (MeitY) to control illegal loan apps. MeitY suggests introducing a detailed Know Your Digital Finance App (KYDFA) for companies to undertake before accessing the Indian Banking system.

This step will work as a barrier to trace and flush out illegal instant firms and allow customers to receive loans from legitimate apps.

MeitY, under Rajeev Chandrasekhar’s leadership, has been active this year to make the digital space safe and secure for both companies and citizens. Read the piece here on what MeitY is planning for India.

Adani Group announced refinancing part of the debt for acquiring Ambuja Cements and ACC by raising $3.5 billion, which is over ₹28,000 crore.

The debt has a three-year tenor with an interest cost of $300 million (around ₹24.7 lakh crore). The funds are raised via a consortium of banks involving Barclays Bank PLC, BNP Paribas, etc.

Whether the group’s good connections in the global market support stabilising the shaken financials is yet to be seen.

Also, read the tale of Adani Group getting into trouble and its counterattacks by clicking here.

Paytm, a high-performing stock, may become profitable soon, gaining 83% year to date and even outperforming Nifty's 8% return. 

Jefferies rates it 'buy' with a ₹1,300 target, forecasting profitability in four quarters, strong growth, double-digit EBITDA margins, and stable profits. 

Goldman Sachs predicts Paytm will be India's most profitable Internet company. To know more about the company's business model, check this article.