BUSINESS

Delhi-based Kashmiri scribes, over 25 people from Valley were potential spying targets: Report

Indian economy contracts 23.9 pc in April-June quarter

6:38 pm August 31, 2020

New Delhi: The Indian economy contracted by 23.9 per cent in the April-June quarter of this fiscal amid the COVID-19 crisis, official data showed on Monday. The gross domestic product (GDP) had expanded by 5.2 per cent in the corresponding April-June period of 2019-20, according to data released by the National Statistical Office (NSO). The […]

Sensex crashes 839 pts as China border tensions flare up

6:34 pm August 31, 2020

Mumbai: Snapping its six-session winning run, the BSE benchmark Sensex plummeted 839 points on Monday as fresh India-China border tensions triggered a broad-based selloff in domestic equities. Profit-booking at higher levels and weak macroeconomic data also fuelled the crash, traders said. After rallying 543 points in the morning session and touching the 40,000-mark, the BSE […]

HomeLane raises Rs 60 crore in bridge funding round

3:00 pm August 31, 2020

Bengaluru: HomeLane, a home interiors service provider, has raised Rs 60 crore (USD eight million) in a bridge round from new and existing investors. Stride Ventures has led this round, participating through debt funding of Rs 20 crore in the company, Bengaluru-based HomeLane said in a statement. Existing investors Accel Partners, Sequoia Capital, Evolvence India, and JSW Ventures have also participated, […]

Most companies that availed loan moratoriums were facing challenges before COVID-19: Crisil

2:42 pm August 31, 2020

Mumbai: Most companies that availed loan moratoriums have sub-investment grade ratings and were facing challenges before the onset of the pandemic itself due to slowing economic growth, domestic ratings agency Crisil said on Monday. In a report released on the last day of the moratorium, the agency said it analysed 2,300 non-financial sector companies which have taken […]

Ambani’s Reliance buys Future Group for Rs 24,713 cr

11:40 pm August 29, 2020

New Delhi: Billionaire Mukesh Ambani’s Reliance Industries on Saturday announced the acquisition of Future Group for Rs 24,713 crore to bolster its fast growing retail business. “Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries, will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns […]