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Ambuja Cements acquires 56.74 % stake in Sanghi industries at 5000 cr valuations-thumnail

Ambuja Cements acquires 56.74 % stake in Sanghi industries at 5000 cr valuations

Ambuja Cements has made an acquisition of Sanghi Industries Ltd for Rs 5,000 crore. The acquisition was funded internally. This has allowed Ambuja Cements to secure a controlling stake of 56.74%.

Business

Aug 3, 2023

Over $10 billion was deposited in Apple’s high-yield savings accounts-thumnail

Over $10 billion was deposited in Apple’s high-yield savings accounts

The iPhone manufacturer estimated the entire amount of deposits at around $10 billion in a news release on Wednesday. According to Apple, that money accumulated throughout the roughly 3.5 months that Apple Card customers had the option of opening them.

Business

Aug 3, 2023

Pi Ventures has announced the final closing of its second fund at $85 million-thumnail

Pi Ventures has announced the final closing of its second fund at $85 million

Pi Ventures reported the first closure of its second round in January 2022, raising Rs 303.5 crore ($40 million) from Accel, entrepreneurs, high-net-worth individuals, and family offices.

Investment & Funding

Aug 3, 2023

For its September IPO, SoftBank’s Arm targets a valuation of $60 billion or more-thumnail

For its September IPO, SoftBank’s Arm targets a valuation of $60 billion or more

Sources claim that Arm Ltd. a division of SoftBank Group Corp. that specialises in semiconductors, plans to go public as early as September with a valuation of $60 billion to $70 billion, signalling a bright outlook for chips including artificial intelligence.

Business

Aug 2, 2023

For the 2024 tax season, the US IRS will allow digital submissions of all tax documents-thumnail

For the 2024 tax season, the US IRS will allow digital submissions of all tax documents

The Treasury Department announced on Wednesday that the Internal Revenue Service of the United States intends to allow taxpayers to submit all paperwork and contact to the organization digitally beginning

Finance

Aug 2, 2023

Despite tough Chinese and U.S. markets, Hugo Boss remains strong-thumnail

Despite tough Chinese and U.S. markets, Hugo Boss remains strong

Hugo Boss (BOSSn.DE) has increased its sales and profit projections after posting a 20% increase in second-quarter revenues as a brand refresh and marketing campaign helped the German fashion company

Marketing

Aug 2, 2023

Prosus-backed Fintech firm PayU gearing up for stock debut next year-thumnail

Prosus-backed Fintech firm PayU gearing up for stock debut next year

PayU, a financial technology company supported by Prosus is preparing to make its debut on the stock exchange. Its estimated value is expected to be $6- 6.5 billion. The company, led by Arvind Agarwal, who previously served as CFO, at Nykaa plans to share its draft prospectus in the year.

Finance

Aug 2, 2023

Battery manufacturer to set up a 1 billion battery plant in Karnataka-thumnail

Battery manufacturer to set up a 1 billion battery plant in Karnataka

IBC has formed a partnership, with the Karnataka government committing an investment of Rs 8,000 crore ($971.89 million) towards a battery manufacturing project covering 100 acres of land.

Business

Aug 2, 2023

Ashwini Vaishnaw claims that the world’s largest 5G network is in India-thumnail

Ashwini Vaishnaw claims that the world’s largest 5G network is in India

Ashwini Vaishnaw, the communications minister, stated in a Koo post on Tuesday.“The world’s fastest 5G rollout continues, with over 3 lakh sites installed in 714 districts. World’s second largest 5G ecosystem.”

News

Aug 2, 2023

UPI inches too close to the target of 1000 cr. transactions per month mark-thumnail

UPI inches too close to the target of 1000 cr. transactions per month mark

In July the Unified Payments Interface (UPI) witnessed a recovery by experiencing a 6.6% increase, in the number of transactions reaching a total of 996 crores.

Finance

Aug 2, 2023

Fitch downgrades US long-term foreign currency issuer default rating to AA+ from AAA-thumnail

Fitch downgrades US long-term foreign currency issuer default rating to AA+ from AAA

Fitch Ratings has recently lowered the US term foreign currency default rating, from AAA to AA+. This decision was primarily influenced by anticipated decline, erosion in governance and the increasing

Finance

Aug 2, 2023

Indian Consumers Flock to Online Cosmetics Shopping, Spends Rs 5,000 Crore in 6 Months: Study Reveals-thumnail

Indian Consumers Flock to Online Cosmetics Shopping, Spends Rs 5,000 Crore in 6 Months: Study Reveals

The beauty industry in India is experiencing a significant surge in sales, with over 100 million cosmetic items sold in the past six months, resulting in a staggering revenue of

Marketing

Aug 1, 2023


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