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Top News of Nov 10: SIPs continue to rise in popularity; Zomato's investment plans and more

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Top News of Nov 10: SIPs continue to rise in popularity; Zomato's investment plans and more
Zomato CEO Deepinder Goyal  said the company will invest $1 billion into more companies over the next couple of years. India’s economic recovery has continued to trend upwards even as global economic recovery remains hamstrung, the Finance Ministry’s latest economic report has said. Monthly SIP contributions reached an all-time high at Rs 10,518 crore during the period under review , here are some top news of the day
ECONOMY
Excise duty cut on petrol, diesel significantly positive: RBI
The recent decision of the central government to cut the excise duty on diesel and petrol is significantly positive for inflation, Reserve Bank of India Governor Shaktikanta Das said on Wednesday. Continue Reading
Monthly SIP contributions hit all-time high
Positive sentiments and rallies in the equity markets helped equity-oriented mutual funds to attract Rs 5,215 crore in October. Monthly SIP contributions reached an all-time high at Rs 10,518 crore during the period under review from Rs 10,351 crore in September. Read more
India's economic recovery on track: FinMin report
India’s economic recovery has continued to trend upwards even as global economic recovery remains hamstrung, the Finance Ministry’s latest economic report has said. Continue Reading

MARKETS
Zomato to invest $1 billion in more startups 
Zomato CEO Deepinder Goyal announced the company's investments in startups such as Curefit, Shiprocket and Magicpin, and said the company will invest another $1 billion into more companies over the next couple of years. Read more.
Nykaa's continues to rise after stellar listing
Nykaa shares witnessed spectacular listing on bourses today at a premium of 80 percent over the issue price. On BSE, the shares are listed at Rs 2,001 and at Rs 2,018 on NSE. The shares closed over 10 percent higher after the listing. Most analysts are positive on the stock with targets as high as Rs 2,600.
PharmEasy has files papers for Rs 6,250 crore IPO
PharmEasy parent API Holdings has filed papers with markets regulator SEBI for an IPO to raise over Rs 6,250 crores. The offer is purely a fresh issue of shares. The company can raise over Rs 1,250 crore via private placement before IPO, in which case the size of IPO will reduce. Read more

INDIA
Key takeaways from NSA meet on Afghan crisis
The dialogue was meant to formulate a regional consensus on tackling the increasing threats of terrorism, radicalisation and drug trafficking after the Taliban recaptured Kabul. Read more
Man arrested for rape threat to Virat Kohli's daughter
Mumbai police on Wednesday arrested a 23-year-old man from Hyderabad for issuing online rape threat to cricketer Virat Kohli's baby daughter following India's loss against Pakistan in the recent T20 World Cup. Read more
Covaxin approved in Hong Kong, Vietnam
Hong Kong and Vietnam on Wednesday approved Bharat Biotech's COVID-19 vaccine Covaxin for emergency use. Read details

INTERNATIONAL
Xi Jinping is laying foundation for China 3.0
As the world leaders haggle over emissions targets in smoky backrooms of Glasgow, one man is conspicuous by his absence. China’s President Xi Jinping remains bunkered in Beijing, his eyes fixed firmly on what is likely to be a defining moment for the country’s political future: the secretive plenary meeting of the Chinese Communist Party. Read more
Elon Musk loses $50 billion in two days
Elon Musk, the CEO of Tesla has seen a $50 billion dip in his wealth after his announcement to sell 10 percent stake in Tesla. The electric car maker has also lost $200 billion in market valuation. Here's why.
Malala Yousafzai gets married in Britain
Nobel peace prize winner Malala Yousafzai has tied the knot with Aseer Malik, the general manager of Pakistan Cricket Board's High-Performance Center. While Yousafzai did not reveal any information about her husband, the internet has identified him. See wedding pictures here.

YOU & I
Here's why you should invest in cryptos
If you had invested Rs 1,000 in Bitcoin in 2020, it would have become Rs 5,000 now -- as it rose from $10,000 to $60,000. This is just one of the reasons why it is a must-have for your portfolio. Read more here.
Social media users could disable algorithms in new US proposal
A bipartisan group of lawmakers in the US House of Representatives has introduced a bill that would require internet platforms like Meta's Facebook and Alphabet's Google to allow users to see content not chosen by algorithms. Read more here.
Step-by-step guide to obtain digital life certificate
Jeevan Pramaan Patra is an essential document that is to be submitted by all government pensioners to receive a pension without any breaks. Read more

 
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