Indian Economy: News and Discussion

FalconSlayers

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Apna becomes BHARAT’s fastest unicorn with $100 million from Tiger Global !!

Apna, a jobs marketplace for blue-collar workers, has been valued at usd 1.1 billion in less than two years since it started, with usd 100 million from Tiger Global Management. It is the fastest Indian startup to become a unicorn.

Founded by former Apple executive Nirmit Parikh, Apna- which does not make any money yet- has 16 million users and 1.5 lakh recruiters on its platform. Apna’s valuation in this round doubled fromusd 500 million in June when it had raised usd 70 million. Its investors include Sequoia India, Lightspeed Venture Partners, Insight Partners, Owl Ventures, Maverick Ventures and GSV Ventures.

See - https://www.moneycontrol.com/news/b...th-100-million-from-tiger-global-7471491.html
Even I have a startup idea, but dunno it will fructify or not.
 

HitmanBlood

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Apna becomes BHARAT’s fastest unicorn with $100 million from Tiger Global !!

Apna, a jobs marketplace for blue-collar workers, has been valued at usd 1.1 billion in less than two years since it started, with usd 100 million from Tiger Global Management. It is the fastest Indian startup to become a unicorn.

Founded by former Apple executive Nirmit Parikh, Apna- which does not make any money yet- has 16 million users and 1.5 lakh recruiters on its platform. Apna’s valuation in this round doubled fromusd 500 million in June when it had raised usd 70 million. Its investors include Sequoia India, Lightspeed Venture Partners, Insight Partners, Owl Ventures, Maverick Ventures and GSV Ventures.

See - https://www.moneycontrol.com/news/b...th-100-million-from-tiger-global-7471491.html
Its raining unicorns in India. Wow! All that investment in IT back in Vajpayee era is now paying off.

Yogi is definitely the best CM currently in India.
 

SKC

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Apna becomes BHARAT’s fastest unicorn with $100 million from Tiger Global !!

Apna, a jobs marketplace for blue-collar workers, has been valued at usd 1.1 billion in less than two years since it started, with usd 100 million from Tiger Global Management. It is the fastest Indian startup to become a unicorn.

Founded by former Apple executive Nirmit Parikh, Apna- which does not make any money yet- has 16 million users and 1.5 lakh recruiters on its platform. Apna’s valuation in this round doubled fromusd 500 million in June when it had raised usd 70 million. Its investors include Sequoia India, Lightspeed Venture Partners, Insight Partners, Owl Ventures, Maverick Ventures and GSV Ventures.

See - https://www.moneycontrol.com/news/b...th-100-million-from-tiger-global-7471491.html
Yeh DFI walo ki Atma kab jagegi.
Koi ek Unicorn bana do aur hum logo ko board of directors mai dal dena bas.
 

sorcerer

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Indian stock market overtakes France; becomes sixth biggest

India is now the world’s sixth-biggest stock market, overtaking France for the first time in market capitalization, with the benchmark Sensex surging more than 23% this year.


India’s market cap stood at $3.4055 trillion on Tuesday against $3.4023 trillion in France, according to Bloomberg data. India posted the biggest gain in market value this year, adding more than $873.4 billion or a rise of 35% from $2.52 trillion on 31 December 2020. Since the March 2020 low, India added nearly $2.08 trillion market cap or a 159% gain. In 2020, it added a $373 billion market cap or gains of 17.4% from $2.14 trillion.

 

sorcerer

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BHEL Commissions India's Largest Floating Solar Plant In Andhra Pradesh
PTI

7-8 minutes


Located at NTPC Simhadri in Andhra Pradesh, the 25-megawatt floating SPV project covers an area of 100 acres, Bharat Heavy Electricals Limited (BHEL) said without disclosing the project cost.
 

doreamon

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Ola getting good response or a marketing strategy?

But 600 crores + is quite good sale amount.

View attachment 110340
They sold more than 86000 in 24 hrs
 

India Super Power

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Serious threat to our automobile industry
GOI should never allow
If it does it's like apne hi kundali me rahu ko bitha diya
 

FalconSlayers

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MediaTek to hire aggressively in India to strengthen its R&D division
In 2020, MediaTek invested approximately USD 2.6 billion, 24% of the company's revenue, in R&D.
In 2020, MediaTek invested approximately USD 2.6 billion, 24% of the company's revenue, in R&D.1 min read . Updated: 15 Sep 2021, 02:52 PM ISTLivemint

  • India is an important market for MediaTek and we are reiterating our commitment and support to the government's Make in India programme by investing in local Indian talent and scaling capabilities to drive innovation for India and global markets, a statement said
Chipset company MediaTek announced it is planning to aggressively hire this financial year in order to strengthen and expand R&D facilities in India
.
In statement on Wednesday, the company said, as reported by news agency PTI, it is looking to hire across offices in India, with a focus on artificial intelligence technologies, smart home and enterprise segments, 5G and wireless communications, among others.

However, the company did not reveal the exact number of how many people it would be hiring.

Rituparna Mandal, MediaTek Bengaluru General Manager, said, “India is an important market for MediaTek and we are reiterating our commitment and support to the government's Make in India programme by investing in local Indian talent and scaling capabilities to drive innovation for India and global markets."

“We plan to hire aggressively from Indian campuses this year, to strengthen our research and product design capabilities across research centres in Bengaluru and Noida."

"People are our greatest asset and we aim to hire managerial and technical leaders who can help us make a quantum leap in innovation and achieve our goals of developing advanced and inclusive solutions," Mandal said.

The company statement said, “In 2021, MediaTek further expanded its R&D budget to over USD 3 billion for future business growth opportunities."

"MediaTek recently emerged as the preferred chipset partner for smartphone OEMs in India, and over 92 per cent of all managerial positions at MediaTek overseas sites are locally hired," it said.

In 2020, MediaTek invested approximately USD 2.6 billion, 24% of the company's revenue, in R&D.

 

Dark Sorrow

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Indian stock market overtakes France; becomes sixth biggest
Both Sensex and Nifty advanced 23% and 25%, respectively, year-to-date, while foreign and domestic investors bought stocks worth $8 billion and  ₹23,532 crore (Photo: Reuters)

Both Sensex and Nifty advanced 23% and 25%, respectively, year-to-date, while foreign and domestic investors bought stocks worth $8 billion and ₹23,532 crore
  • India’s market capitalization stood at $3.4055 trillion against $3.4023 trillion in France
  • US stock market is the world’s most valued with an m-cap of $51.30 trillion followed by China ($12.42 trillion), Japan ($7.43 trillion) and Hong Kong ($6.52 trillion)

The US stock market is the world’s most valued with a market cap of $51.3 trillion, followed by China ($12.42 trillion), Japan ($7.43 trillion), Hong Kong ($6.52 trillion) and the UK ($3.68 trillion).


“Strong liquidity and positive macroeconomic cues are also likely to support domestic markets to continue their movements to record levels. The consumer demand will be closely monitored as it is expected to pick up, given the festive season has begun and the restrictions are continuing to ease. However, concerns on the third wave of the (covid-19) pandemic still hover," Motilal Oswal said in its report on Wednesday.


Both Sensex and Nifty advanced 23% and 25%, respectively, year-to-date, while foreign and domestic investors bought stocks worth $8 billion and ₹23,532 crore. Continued foreign investor flow with a sharp improvement in key economic indicators such as the index of industrial production for July, which was 11.5% (higher than consensus estimate), almost reaching to pre-pandemic level also offers comfort, analysts said. Further, the easing of retail inflation to 5.3% for August bodes well. This should help the Reserve Bank of India maintain its soft monetary policy stance to support the ongoing recovery in economic momentum.


Better-than-expected gross domestic product and goods and services tax (GST) collection indicate a sustainable rebound in earnings. This should help the market sustain the premium valuations. The GST council is likely to meet on Friday to decide on the inclusion of diesel and petrol under the GST regime.



The US stock market is the world’s most valued with a market cap of $51.3 trillion, followed by China ($12.42 trillion), Japan ($7.43 trillion), Hong Kong ($6.52 trillion) and the UK ($3.68 trillion).


“Strong liquidity and positive macroeconomic cues are also likely to support domestic markets to continue their movements to record levels. The consumer demand will be closely monitored as it is expected to pick up, given the festive season has begun and the restrictions are continuing to ease. However, concerns on the third wave of the (covid-19) pandemic still hover," Motilal Oswal said in its report on Wednesday.


Both Sensex and Nifty advanced 23% and 25%, respectively, year-to-date, while foreign and domestic investors bought stocks worth $8 billion and ₹23,532 crore. Continued foreign investor flow with a sharp improvement in key economic indicators such as the index of industrial production for July, which was 11.5% (higher than consensus estimate), almost reaching to pre-pandemic level also offers comfort, analysts said. Further, the easing of retail inflation to 5.3% for August bodes well. This should help the Reserve Bank of India maintain its soft monetary policy stance to support the ongoing recovery in economic momentum.


Better-than-expected gross domestic product and goods and services tax (GST) collection indicate a sustainable rebound in earnings. This should help the market sustain the premium valuations. The GST council is likely to meet on Friday to decide on the inclusion of diesel and petrol under the GST regime.

 

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