![]() Lupin announced the launch of Tiotropium Bromide Inhalation Powder, 18 mcg/capsule, for the treatment of chronic obstructive pulmonary disease (COPD) in the US. The company has proposed to pay the amount with interest. ![]() Vodafone Idea has sought 30 days more time to pay around Rs 1,680 crore for spectrum auction instalment due on Thursday. The deal turns One97 Communications, which operates under Paytm brand name, into a majorly Indian-owned company from being majorly owned by Chinese entities. PaytmĪlibaba group firm Antfin has transferred its 10.3% stake in One97 Communications to the fintech firm’s founder and CEO Vijay Shekhar Sharma. The Burman family already owned about 14% in Religare through various entities and bought an additional 7.6% stake in the company on Wednesday. The Burman family, promoters of the Dabur group, upped their stake in financial services player Religare Enterprises Limited (REL). The fund raising would be in tranches, starting with this financial year, and over the next few years. Share Market Highlights: Sensex and Nifty ends at lower, Nifty Settles below 21,750, Sensex closes near 72,200: Auto and FMCG stocks shine Adani GreenĪdani Green Energy, the renewable energy arm of Adani Group, intends to raise about $5 billion through global bonds for its proposed capacity addition of another 25 gigawatts (GW) by 2030. Stronger-than-anticipated retail sales data in the US and concerns about further rating downgrades of US banks contributed to choppiness in Western markets, while Asian markets reacted to the rate cut initiated by the Chinese central bank,” said Vinod Nair, Head of Research at Geojit Financial Services. ![]() Moreover, as core inflation continued to moderate, the market did not anticipate a rate hike, although the possibility of an extended rate pause seemed more probable. However, the market found some relief as the likelihood of this inflation surge being transitory alleviated concerns, leading to a recovery in the latter part of the trading session. ![]() “”The initial apprehension stemming from an above-expected surge in domestic CPI inflation, driven by higher food prices, induced volatility in the Indian market. From its intraday lows, Sensex gained over 500 points to settle at 65,539.42, clocking a gain of 0.12%. After trading in the red for most of Wednesday’s session, Nifty pared its losses to close 0.16% in the green at 19,465. “I was surprised by the opportunity of monetization in 2020 during the pandemic, not just by our wealth accounts but also by lending.”Ĭhina’s Ant Financial has a 30% stake in Paytm, although rumours abound that the Chinese giant is about to cash in its holdings due to rising political tensions between the two countries.Stocks in focus: The GIFT Nifty was flat during Thursday’s early trading session, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex. “We could very well break even this year, we will start making money,” he told the conference. Speaking at a Reuters conference Wednesday, Paytm CEO Vijay Shekar Sharma said the firm was on the cusp of turning its first profit. Paytm was last valued at $16 billion during a 2019 funding round, but its price is likely to have risen substantially in a market where regulatory pressure for a move away from cash and the Covid-19 pandemic have combined to create a perfet storm for digital payments. UBS is negotiating the purchase of Paytm stock from a group of the Indian fintech company’s employees, the people said. A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm alongside some of the Swiss bank’s clients, according to people close to the talks. UBS is in talks to invest $400 million in Indian digital payments startup Paytm, according to Bloomberg.
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