Bullets

Acko General Insurance is raking in the cash! They're currently in talks to close a secondary deal worth $100-120 million (over ₹840 crore).

Some of Acko's early backers, including tech titan Narayana Murthy's Catamaran Ventures and PE fund Chrys Capital, are looking to cash in on their investment.

Want to know more about this exciting development? Subscribe to our newsletter to get all the juicy business insights.

SpaceX and Amazon want a piece of India's internet pie, but telcos aren't giving up their spectrum without a fight!

Indian telecom companies spent ₹5.5 lakh crore on acquiring spectrum, which is essential for providing internet services.

These companies are worried that new satellite internet players like Starlink and Kuiper might get a free ride on spectrum pricing.

Telcos are demanding that these new players pay market prices for spectrum, just like they did. Will they win this battle?

Adani's empire is soaring higher! Their latest venture, Celeritas International FZCO, is a new company set up in the UAE.

With a capital of AED 100,000, this new entity will operate from the Jebel Ali Free Zone. Though it's still in its early stages, it's clear that Adani is eager to expand its global footprint.

Want to know more about Adani’s ambitious plans? Check out this article.

Elon Musk just got a massive wealth boost thanks to Tesla's incredible stock performance. The EV giant's shares surged by a whopping 22% in a single day, pushing Musk's net worth up by a staggering $33.5 billion (~₹2.81 lakh crore).

This marks a major turnaround for Tesla, which had been struggling with declining sales.

But with strong quarterly profits and promising growth forecasts, it seems like the electric car giant is back on track.

Ratan Tata, the legendary industrialist, has made sure his beloved German Shepherd, Tito, will be cared for long after he's gone. In his will, he's set aside unlimited funds to ensure Tito's happiness and well-being.

Tata's longtime cook, Rajan Shaw, will be Tito's guardian, a testament to their deep bond. Tata's butler, Subbiah, will also be taken care of.

Want to know more about Ratan Tata's legacy? Click here.

ITC just announced some good news for investors! The company's revenue for the last quarter jumped by almost 16% to ₹22,282 crore. And their net profit rose by 2% to ₹4,993 crore.

Looks like ITC's FMCG business is doing well!

Know more about the company with this article link.

After facing some challenges, Paytm has finally received the go-ahead from the National Payments Corporation of India (NPCI) to onboard new UPI users.

This means that more people can now use Paytm's UPI services to make quick and easy payments.

While this is good news for Paytm, it's important to remember that they still need to follow all the rules and regulations set by NPCI.

Know more about how Paytm got banned and where is it now from here.

Insurance startup Acko is seeing some big changes. A few early investors are selling their shares for $100-120 million (₹830 crore).

Catamaran Ventures, one of Acko's earliest backers, is unloading most of its stake. The new owners include Enam Group's family office, Arpwood Capital, Caratlane founder Mithun Sacheti, and veteran investor Madhu Kela. Even existing investor General Atlantic is buying more shares.

But there's a twist: The deal is happening at a discount to Acko's previous valuation. So, is this a sign of trouble, or just a smart business move?

Zomato is feeling a little festive and has decided to treat us to a slightly higher delivery fee. Starting this festive season, you'll be paying ₹10 per order instead of the previous ₹7.

According to Zomato, this extra cash helps keep the lights on and maintain their services during peak times.

Looks like Swiggy is also in on the fee-raising action, having recently increased their platform fee as well.

Also Read: Zomato is Entering the Movie Business with Paytm

Billionaire Mukesh Ambani's Jio Financial is eyeing a partnership with insurance giant Allianz in India. Allianz, on the other hand, is looking to ditch its current Indian partnerships.

The two companies are exploring the possibility of setting up both general and life insurance companies in India. However, things are still in the early stages, and there's no guarantee a deal will happen.

So, will we see a new insurance powerhouse in India?

SoftBank is over the moon about India! Their investments here have been a massive success, with companies like Firstcry, Ola Electric, and Unicommerce going public, and Swiggy gearing up for a $1.25 billion (₹10,500 crore) IPO.

Alex Clavel, from SoftBank, says India's IPO market has really blossomed, thanks to progressive regulations and increased domestic liquidity.

This means they can now easily exit their investments and make a profit.

The government is in talks with Reliance Retail to sell Bharat brand food items at subsidised prices in their stores.

This is a first-of-its-kind move to tackle inflation and make essential groceries more affordable.

Will the government's efforts to take the “Make in India” initiative another step upwards work?

Hyundai Motor India's stock took a hit on its first day of trading. Shares dropped nearly 5%, disappointing investors who had hoped for a stronger debut.

The IPO was priced at ₹1,960, but the stock started trading at a slight discount. This suggests that investors were cautious about the company's valuation.

Did you invest in Hyundai’s IPO?

Paytm just announced a surprising profit worth ₹928.3 crore for the last quarter! However, their revenue took a significant dive of 34% to ₹1,660 crore.

The big reason for the profit? A one-time windfall from selling their entertainment ticketing business to Zomato.

Despite the revenue drop, Paytm's financial services business is on the rise.

Want to know more about Paytm's financial performance? Read this article for more information.

Jeff Bezos-backed AI startup, Perplexity AI, is aiming to skyrocket its valuation to over $8 billion (₹67,200 crore) in a new funding round. They're looking to raise around $500 million (₹4,200 crore).

Despite its relatively young age, Perplexity AI has already seen impressive growth, with estimated annual revenue reaching $50 million (₹420 crore).

This latest funding round could fuel even more rapid expansion and innovation in the AI space.

India's state-run oil giants, ONGC and BPCL, are looking for foreign partners to help build new petroleum refineries. They're eyeing Saudi Arabia's state-run energy company, Saudi Aramco, as a potential partner.

While Aramco was initially on board for a refinery in Maharashtra, the plan hasn't materialised yet.

Will these partnerships happen? Stay tuned with Bullets by Insider to find out.

Singapore's Temasek is showing some love for education startup Upgrad! They've just pumped in another $60 million (₹504 crore), valuing the company at $2.25 billion (₹18,400 crore).

Meanwhile, Upgrad's founder, Ronnie Screwvala, is taking things into his own hands by buying out Bharti Enterprises' stake for $20 million (₹168 crore).

Looks like Upgrad is on a roll!

India's vaccine giant, Serum Institute of India, is pouring a massive ₹1,000 crore into a new manufacturing facility in Pune. This state-of-the-art plant will produce vaccines for diseases like pneumonia, rotavirus, and dengue. SII is already a global leader in vaccine production, and this expansion shows their commitment to protecting public health.

But that's not all! Billionaire CEO Adar Poonawalla is also making a strategic move into the entertainment industry. He's snagging a 50% stake in Karan Johar's production houses, Dharma Production and Dharmatic Entertainment, for a ₹1,000 crore.

Looks like the vaccine maker is ready to conquer both the healthcare and entertainment worlds!

Zomato, already sitting on a pile of cash, is raising even more money through a QIP. This move has everyone in the quick commerce sector buzzing.

Some think it’s a smart way to distract investors from Swiggy’s upcoming IPO, while others worry it could lead to a cash-burning war.

With companies like Zepto also looking for more money, the quick commerce space is starting to look a lot like the early days of ecommerce.

The big question is: Can these companies keep up the pace without burning through too much cash?

Tech Mahindra just announced some blockbuster quarterly results! Their net profit soared by a massive 153% compared to last year, reaching ₹1,250 crore. Revenue also climbed by 3.5% to ₹13,313 crore.

As a reward to their shareholders, Tech Mahindra is declaring an interim dividend of ₹15 per share.

Looks like Tech Mahindra is on a roll! Keep an eye on this company by knowing how Asset Yogi sees it.