Amazon agrees to acquire Bengaluru-based digital lending startup Axio, formerly known as Capital Float, for an estimated enterprise value of $150-160 million. Axio, which provides pay-later and credit offers, is awaiting Reserve Bank of India approval. Amazon aims to expand its financial services in India through this acquisition.
Related news
Flipkart cofounder Binny Bansal has donated Rs 70 crore to establish the Binny Bansal Institute for Inventing the Future (IIF) at Plaksha University. The institute aims to tackle global challenges through AI, blockchain, and robotics. Plaksha University, supported by various donors, focuses on cross-disciplinary learning and partnerships to drive tech education and convert research into real-world applications.
Foreign portfolio investors remain cautious on Indian equities in light of uncertainty around Q3 FY25 earnings recovery and fair market valuations, despite strong domestic institutional investor support. The Indian rupee's depreciation and global factors are contributing to market volatility.
Stock market recommendations: Stock picks for today include CONCOR with a buy range of Rs 760 - Rs 740, ITC near Rs 435, and Tata Steel near Rs 125. Analysts suggest these stocks due to key support levels observed in their charts. Specific stop-loss and target points are provided for each stock.
Peter Schiff warns that Bitcoin could crash to $20,000 if the Nasdaq enters a bear market. He emphasizes the historical correlation between Bitcoin and Nasdaq declines, while also pointing out gold’s potential rise as an alternative safe haven.
India's mobility industry is expected to exceed $600 billion by 2030, driven by rising demand for electric vehicles, including preferences for advanced technology in electric four-wheelers and practicality in electric two-wheelers. Emerging mobility models, digital purchase journeys, and increasing influence of women and Gen Z are also shaping the sector's transformation.
Indian stock markets are predicted to remain in a corrective to consolidation phase for the next few months due to rising US interest rates, fiscal deficits, inflation, and deglobalisation trends. Market volatility is also impacted by Japan's monetary policy changes and ongoing foreign institutional investor outflows.
Gold prices reached an all-time high of Rs 86,875 per 10 grams, driven by investor demand for safe havens amid US trade tariffs and global economic slowdown. Silver also saw fluctuations, ending at Rs 99,389 per kilogram. Market sentiment reflects expectations of a less aggressive Federal Reserve policy and ongoing volatility in the dollar index and US trade.
India's industrial output hit a six-month high in November driven by manufacturing, capital goods, and consumer durables. The index of industrial production rose 5.2% with significant contributions from a 9% rise in capital goods and a 13.1% rise in consumer durables, indicating strong festive demand.
Fintech unicorn Razorpay is shifting its headquarters from the US to India, aiming for a 2026 IPO. Despite facing potential $300 million tax implications, the move is underway, pending regulatory approvals. The company, valued at $7.5 billion, seeks to list where it's recognized and projects a 50%+ growth rate over the next few years.
Small finance banks (SFBs) are projected to experience slower growth of 18-20% in FY2025, down from 24% in FY2024, due to rising delinquencies and asset quality issues. The GNPA ratio in the microfinance segment is expected to increase, and funding pressures with higher deposit competition may affect profitability.