Ola Electric on Thursday said it has raised over USD 200 million (about Rs 1,484.7 crore) in funding from Falcon Edge, SoftBank and others, valuing the electric vehicle maker at USD 3 billion (about Rs 22,272 crore). The headline index has surged over 3 percent this month, but this is nothing compared to that of a stock owned by ace investor Rakesh Jhunjhunwala
. It is up 45 percent this month. For all these stories and everything in between, here are some top news of the day
BUSINESS/ECONOMY
Ola Electric raises over $200 mn funding, valuation touches $3 bn
Ola Electric on Thursday said it has raised over USD 200 million (about Rs 1,484.7 crore) in funding from Falcon Edge, SoftBank and others, valuing the electric vehicle maker at USD 3 billion (about Rs 22,272 crore). Continue Reading
HDFC Bank didn't flag forgery but levied fees, alleges whistleblower
September auto sales preview: Street expects mixed bag
MARKETS
Indian market a little overextended; positive on financial space: William O’Neil
Indian Overseas Bank shares hit 20% upper circuit after RBI removes lender from PCA framework
UBS downgrades Bharti Airtel, Indus Towers, here’s why
INTERNATIONAL
Powell defends Fed policies, says inflation may persist
Federal Reserve Chair Jerome Powell on Wednesday defended the ultra-low interest rate policies he has pursued since the pandemic decimated the economy more than 18 months ago. Continue Reading
US, EU agree to work on chip supplies, tech rules, China trade
The United States and European Union agreed on Wednesday to deepen transatlantic cooperation to strengthen semiconductor supply chains, curb China's non-market trade practices and take a more unified approach to regulating big, global technology firms. Continue Reading
US unemployment claims rise third straight week to 362,000
The number of Americans applying for unemployment benefits rose for the third straight week, a sign that the highly contagious delta variant may be slowing the job market's recovery. Continue Reading
INDIA
Centre exempts COVID-19 vaccine from customs duty till December 31
The government has exempted customs duty on COVID-19 vaccines for three months till December 31, which will boost domestic availability and make them cheaper. Continue Reading
Leaving Congress but not joining BJP: Amarinder Singh
Scotching speculation, former Punjab Chief Minister Amarinder Singh on Thursday made it clear that he was not joining the Bharatiya Janata Party (BJP) but said he had no intention of continuing in the Congress, which he said was going downhill with senior leaders being completely ignored. Continue Reading
Bhabanipur bypoll: Why Mamata Banerjee must win the seat
All eyes are on South Kolkata's Bhabanipur seat from where Chief Minister Mamata Banerjee is contesting against her Bharatiya Janata Party rival Priyanka Tibrewal. Continue Reading
YOU & I
This Rakesh Jhunjhunwala owned stock has surged 45% in a month and made him 160 crore richer
The headline index has surged over 3 percent this month, but this is nothing compared to that of a stock owned by ace investor Rakesh Jhunjhunwala. It is up 45 percent this month, beating the 30-scrip index by a huge margin. Do you own this stock?
Gatherings, including Raamleela celebrations, allowed in Delhi this year
The Delhi Disaster Management Authority (DDMA) on Wednesday decided to allow gatherings, including Ramleela celebrations, during the upcoming festival season with strict compliance to COVID norms, official sources said. Read more
PPF, other small savings schemes interest rates kept unchanged for December quarter
The government has kept the interest rates of small savings schemes unchanged for the quarter ending December 31, 2021. The rates have been kept stable for the sixth quarter in a row. Continue Reading
. It is up 45 percent this month. For all these stories and everything in between, here are some top news of the day
BUSINESS/ECONOMY
Ola Electric raises over $200 mn funding, valuation touches $3 bn
Ola Electric on Thursday said it has raised over USD 200 million (about Rs 1,484.7 crore) in funding from Falcon Edge, SoftBank and others, valuing the electric vehicle maker at USD 3 billion (about Rs 22,272 crore). Continue Reading
HDFC Bank didn't flag forgery but levied fees, alleges whistleblower
India's private lender, HDFC Bank has levied a fee to deter customers who submitted forged documents to obtain loans instead of reporting them to law enforcement, a whistleblower alleged in his complaint to the Reserve Bank of India (RBI). Read more
Citi expects 15 bps reverse repo rate hike in October 8 RBI monetary policy announcement
Citi said it is expecting 15 basis points (bps) reverse repo rate hike in the Reserve Bank of India's monetary policy. Accordingly, the reverse repo will be upped to 3.5 percent from the current 3.35 percent, Citi said. Read more
September auto sales preview: Street expects mixed bag
September auto sales numbers will be out tomorrow and it is expected to be a mixed bag. This month, because of the chip shortage issue and a high base, the numbers are not going to look good for passenger vehicles. Read more
MARKETS
Indian market a little overextended; positive on financial space: William O’Neil
Dean Kim, head-global research products at William O’Neil + Co, on Thursday, said that the Indian market is a bit overextended right now. "Some of the liquid stocks in India, basically 67 percent of them are trading above the 50-day moving average (DMA). The market is overextended," he said. Catch the interview
Indian Overseas Bank shares hit 20% upper circuit after RBI removes lender from PCA framework
Shares of Indian Overseas Bank surged as much as 20 percent on Thursday as the Reserve Bank of India (RBI) has removed the lender from the PCA (prompt corrective action) framework. Dig deeper
UBS downgrades Bharti Airtel, Indus Towers, here’s why
UBS has downgraded Bharti Airtel to ‘neutral’ rating with a target price of Rs 760. Whereas, it has maintained its 'neutral' stance on Vodafone Idea. Here's why
INTERNATIONAL
Powell defends Fed policies, says inflation may persist
Federal Reserve Chair Jerome Powell on Wednesday defended the ultra-low interest rate policies he has pursued since the pandemic decimated the economy more than 18 months ago. Continue Reading
US, EU agree to work on chip supplies, tech rules, China trade
The United States and European Union agreed on Wednesday to deepen transatlantic cooperation to strengthen semiconductor supply chains, curb China's non-market trade practices and take a more unified approach to regulating big, global technology firms. Continue Reading
US unemployment claims rise third straight week to 362,000
The number of Americans applying for unemployment benefits rose for the third straight week, a sign that the highly contagious delta variant may be slowing the job market's recovery. Continue Reading
INDIA
Centre exempts COVID-19 vaccine from customs duty till December 31
The government has exempted customs duty on COVID-19 vaccines for three months till December 31, which will boost domestic availability and make them cheaper. Continue Reading
Leaving Congress but not joining BJP: Amarinder Singh
Scotching speculation, former Punjab Chief Minister Amarinder Singh on Thursday made it clear that he was not joining the Bharatiya Janata Party (BJP) but said he had no intention of continuing in the Congress, which he said was going downhill with senior leaders being completely ignored. Continue Reading
Bhabanipur bypoll: Why Mamata Banerjee must win the seat
All eyes are on South Kolkata's Bhabanipur seat from where Chief Minister Mamata Banerjee is contesting against her Bharatiya Janata Party rival Priyanka Tibrewal. Continue Reading
YOU & I
This Rakesh Jhunjhunwala owned stock has surged 45% in a month and made him 160 crore richer
The headline index has surged over 3 percent this month, but this is nothing compared to that of a stock owned by ace investor Rakesh Jhunjhunwala. It is up 45 percent this month, beating the 30-scrip index by a huge margin. Do you own this stock?
Gatherings, including Raamleela celebrations, allowed in Delhi this year
The Delhi Disaster Management Authority (DDMA) on Wednesday decided to allow gatherings, including Ramleela celebrations, during the upcoming festival season with strict compliance to COVID norms, official sources said. Read more
PPF, other small savings schemes interest rates kept unchanged for December quarter
The government has kept the interest rates of small savings schemes unchanged for the quarter ending December 31, 2021. The rates have been kept stable for the sixth quarter in a row. Continue Reading
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