Udaan, a B2B e-commerce startup, secured a fresh $75 million in funding led by existing investor M&G, maintaining a $1.8 billion valuation. The company is also negotiating an additional $25 million in funding. The investment will enhance Udaan's supply chain and vendor partnerships.
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The National Pension System (NPS) now allows retirees to systematically withdraw 60% of their corpus while the remainder grows, benefiting from better annuity rates at later ages. Retirees can contribute till 75, optimizing tax-free lump sum withdrawals and systematic instalments. This feature is ideal for those with significant voluntary pension contributions.
Under President Trump’s second term, US tariffs are raising concerns about global trade disruptions, indirectly impacting international travel. Despite 2024's milestone of surpassing pre-pandemic passenger traffic levels, growth is stabilizing. Emerging economies like the Middle East and Asia-Pacific are experiencing higher growth. Long-term forecasts predict a significant increase in passenger numbers by 2053.
Donald Trump's tariff threats have added volatility to global stock markets, significantly impacting India. Key sectors like automobiles, pharmaceuticals, textiles, and steel are at risk. Despite challenges, India's markets show resilience, and experts see current conditions as an investment opportunity. India's diplomatic approach could mitigate risks, aiming to attract foreign investments and reduce tariffs on US imports.
Outgoing RBI Governor Shaktikanta Das emphasized inflation control as the central bank's top priority. Das provided insights into the crucial challenges awaiting the central bank whilst expressing optimism about his successor's capabilities, as he reviewed his six-year leadership period.
HCLTech CEO C Vijayakumar highlights that while the demand for skilled IT professionals and higher billing rates will continue, revenue growth might outpace headcount additions. The company reduced its fresher recruitment target, stressing the importance of embracing generative AI for incremental value.
Catch, an Australian e-commerce platform acquired by Wesfarmers in 2019, will close down, leading to about 200 job losses due to tough competition from Amazon and Temu. The logistics centres will be transferred to Kmart to enhance its customer service and delivery efficiency.
Indian equity markets surged on Friday, mirroring a global rebound and fueled by value buying across sectors. The Sensex soared over 1244 points, while the Nifty 50 climbed more than 400 points, driven by positive domestic cues and expectations of steady inflation. Experts suggest long-term investors consider selective buying in financials and pharmaceuticals.
Stock market holiday today: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are closed for trading today, April 10. Regular trading sessions, operating from 9:15 a.m. to 3:30 p.m. IST, will continue on Friday, April 11.
UCO Bank reported a 27.1% rise in Q3 net profit to Rs 638.83 crore, along with a 15.5% increase in total income at Rs 7,405.89 crore. For the nine months ending December 2024, net profit surged 58.9%, while gross NPA ratio improved to 2.91%.
Hero Moto projects that electric vehicles will account for 50% of the scooter market by 2030. The company plans to invest Rs 1,000 crore in EVs this year and will launch new electric models. Despite current leadership volatility, Hero views the EV segment as a long-term play.