A holding page for Keith Gill, a Reddit user credited with inspiring GameStop’s rally, before a YouTube livestream arranged on a laptop at the New York Stock Exchange on June 7, 2024. Michael Nagle | Bloomberg | Getty Images A sell-off in GameStop shares intensified in afternoon trading Wednesday, and that coincided with a spike…
Intellect Design Arena Ltd is a cloud-native, future-ready, multi-product FinTech company for the world’s leading banking and insurance clients. This iDTC platform is built on eMACH.ai, touted as the most comprehensive open finance platform Intellect Design Arena has introduced a pioneering API-based public procurement platform named iGPX (Government Procurement eXchange), marking a significant advancement in…
Bansal Wire Industries IPO: The initial public offering of steel wire maker Bansal Wire Industries Limited was opened for public subscription today, July 3. The Rs 745-crore IPO will conclude on July 5. The price band of the IPO has been fixed at Rs 243-Rs 256 per share. Till 5:00 pm on Wednesday, the IPO…
ICICI Bank’s Student Sapphiro Forex Card allows transactions in 15 currencies without incurring any cross-currency mark-up charges. Powered by Visa, ICICI Bank’s Student Sapphiro Forex Card caters to the unique needs of students and their parents in managing education-related expenses like tuition fees, travel, dining, and daily necessities. ICICI Bank announced the launch of its…
India’s gold and silver imports from its free trade agreement (FTA) partner UAE have skyrocketed 210 per cent to USD 10.7 billion in 2023-24 and there is a need to potentially revise the concessional customs duty rates under the pact to mitigate the arbitrage driving this surge, a report said on Monday. Economic think tank…
The new rule requires that NRIs, overseas citizens of India and resident Indians should not be in control of the applicant FPI. Sebi tweaked guidelines for registration of FPIs pertaining to NRIs, overseas citizens of India and resident Indians as participant of such foreign investors Sebi has tweaked the guidelines for registration of Foreign Portfolio…
Zepto had a valuation of $1.4 billion in August 2023, when the company last raised $235 million. This is the second funding round for Zepto in less than a year; the latest round saw participation from New York-based Avenir Growth Capital and Lightspeed Venture Partners as well as a maiden investment from Avra Capital Grocery…
ELCINA has also advocated for enhanced incentives for the semiconductor industry, asserting that the current $10 billion allocation is insufficient. (Getty Images) The Electronic Industries Association of India’s (ELCINA) primary recommendation is for a substantial $10 billion package dedicated to non-semiconductor components. This initiative is envisioned to catalyse investments, driving the industry’s expansion towards the…
India’s foreign currency assets, a major component of the reserves, increased by $3.773 billion to $576.337 billion. Gold reserves increase $481 million to $56.982 billion during the week ended June 7; special drawing rights rise $43 million to $18.161 billion, according to the latest RBI data India’s forex reserves jumped $4.307 billion to a new…
The prices of ACs have increased by 8 per cent. Companies are emergency-airlifting components from global suppliers from countries like China, Taiwan, Thailand, Malaysia and Japan. The severe heat in the country has increased the demand for air conditioners by one and a half times. The situation is such that companies are now unable to…
