Global political tensions are negatively affecting Seattle-based Starbucks Corporation as the company has lost approximately USD 11 billion in value, which accounts for 9.4 per cent of its total value. In just 19 days, since the 16 November Red Cup Day promotion, Starbucks shares have plunged 8.96 per cent, causing a loss of nearly USD […]
India’s leading payments and financial services distribution company Paytm has announced the expansion of its loan distribution business with an enhanced focus on higher ticket loans for consumers and merchants. The company highlighted that these loans will be targeted at lower-risk and high-credit-worthy customers in partnership with large banks and NBFCs. Amid recent macro developments […]
Shiprocket, and ecommerce enablement platform introduced seamless revenue-based financing for SMBs with Shiprocket Capital. The platform aims to disburse around Rs100 crore to SMBs, in the next 12 months. Shiprocket Capital promises to transform the financing landscape for emerging eCommerce businesses by enabling financing that is easy, quick, collateral-free and liability-free. In its pilot phase, […]
Fireside Ventures, a capital fund and the initial investor in Mamaearth during the seed round, executed a block deal on Tuesday, 5 December, selling 61 lakh shares of Honasa Consumer, the parent company of Mamaearth, which recently debuted on the stock exchange. As a result of this deal, the stock prices fell to Rs 367.15, […]
Dell Technologies reported third-quarter revenue below estimates on Thursday, attributing it to a slower-than-expected recovery in the hardware and software market. The company’s shares declined by 4 per cent after the announcement. The overall market witnessed a demand slowdown following the surge in electronic device sales during Covid lockdowns, driven by increased work-from-home measures. In […]
UltraTech Cement, an Aditya Birla group company, announced on Wednesday that it had purchased the cement grinding assets of Burnpur Cement Ltd in Jharkhand for Rs 169.79 crore. UltraTech Cement said in a regulatory filing that it had acquired the 0.54 mtpa cement grinding assets of Burnpur Cement, which is based in Patratu, Jharkhand. “The […]
Good and Services Tax (GST) Revenue collection for November 2023 stands at Rs 1,67,929 lakh crore, recording the highest growth rate of 15 per cent Year-on-Year, an official statement issued by the Ministry of Finance said on Friday. The Finance Ministry said that gross GST collection crossed the Rs 1.60 lakh crore mark for the […]
India’s UltraTech Cement said on Thursday it will buy the cement business of Kesoram Industries (KSRM.NS) in an all-stock deal valued at Rs 5,379 crore, in a move to add heft to its hold in the southern part of the country. As a part of the deal, UltraTech will issue one share for every 52 […]
On Thursday, Whirlpool Corp revealed its plan to divest up to 24 per cent of its ownership interest in Whirlpool of India in 2024, aiming to alleviate debt levels. The company, not disclosing the deal value, assured that the sale would not impact its previously provided full-year forecast, as detailed in a filing. Whirlpool of […]
Tata Coffee has received approval from its board for a capacity expansion of its wholly-owned subsidiary in Vietnam with an investment of Rs 450 crore. The regulatory filing by the company stated that the board has given the green light for the establishment of an additional 5,500-tonne freeze-dried coffee facility in Vietnam. The investment for […]
