Roadmap in place for coal rake supply to power plants: Railways

NEW DELHI: The ministry of railways on Monday said the public transporter is implementing a roadmap, prepared in consultation with the power and coal ministries, for providing coal rakes to power plants located far away from mines to build up fuel stocks. Responding to a TOI report published Monday on low fuel stocks at distant … Read more

swiggy: Swiggy doubles valuation to $10.7 billion after $700 million fund raise led by Invesco

NEW DELHI: Food delivery giant Swiggy is the fourth startup in India to become a decacorn after it raised $700 million in a round led by Atlanta-based investment company, Invesco. A decacorn is a startup business with a valuation of over $10 billion. The current round which has valued Swiggy at around $10.7 billion witnessed … Read more

India takes on China, Vietnam in electronics manufacturing; eyes $300 billion in local production by FY26

NEW DELHI: India’s counter-attack on China and Vietnam in manufacturing of electronics is set to get additional fire-power. On target is $300 billion in output over the next four years, including $120 billion reserved for exports; broadening of product-basket for incentives; specially crafted large industrial zones with modern facilities; and permissions for factories that may … Read more

Domestic leisure travel set to pick up in 2022: Survey

MUMBAI: After two years of off and on travel restrictions and rise and fall of three Covid waves, Indians are firming up their travel plans for the year 2022, according to the findings of a survey by an online travel company. About 68% of Indians surveyed said that they are likely to travel domestically, while … Read more

Swiggy raises $700 million in funding round led by Invesco

BENGALURU: SoftBank-backed food delivery firm Swiggy said on Monday it raised $700 million in a funding round led by US investment firm Invesco, as competition intensifies for quick delivery of food and grocery in Asia’s third-largest economy. Baron Capital Group, Sumeru Venture, IIFL and Kotak were among the new investors who participated in the latest … Read more

Air India closing balance sheet to be given to Tatas today, handover in days if no disagreement on accounts

NEW DELHI: With Air India (AI) all set to return to founder Tata Group either this or next week, the airline’s finance department staffers has urged its staffers to give their “best in these last three four days before (it gets) divested”. The closing balance sheet as on January 20, 2022, has to be provided … Read more

Ola Electric raises $200 million in funding at a valuation of $5 billion

NEW DELHI: Ola Electric on Monday said it has raised over $200 million (about Rs 1,490.5 crore) from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others, valuing the electric vehicle maker at $5 billion. In September last year, Ola Electric had announced raising a similar amount in funding from Falcon Edge, Softbank and others … Read more

Reliance Industries shares climb 1%; later give up early gains

NEW DELHI: Shares of Reliance Industries Ltd gained 1 per cent in early trade on Monday after the company reported its best-ever quarterly performance in October-December 2021. The stock of the country’s most valued firm by market valuation jumped 1.04 per cent to Rs 2,504.10 in early trade on the BSE. At the NSE, it … Read more

Startups bought back ESOPs worth over $400 million last year

BENGALURU: Over $400 million worth of ESOPs were bought back by Indian startups in 2021, according to a report on startups by Nasscom and consultancy firm Zinnov. Over 10,000 employees benefited from these buybacks. The ESOP pool has expanded to $900 million with Sebi’s revised policies, the report said. Sebi changed regulations last year to … Read more

Why 2021 seems like 2000 for stock markets

Every reasonable investor must have, at least once in a lifetime, their own ‘Lucky Fool Moment’. Mine came in February 2000. Having luckily invested a small amount of money, in a handful of tech stocks, in 1998-1999, I sat one afternoon in early 2000 and shook my head in disbelief. Myportfolio of largely junk tech … Read more