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The Economic Times Exclusive: Flipkart’s talks to buy majority stake in Zepto falter; quick commerce startup opts for financial investors

The strategic sale discussions are unlikely to be revived. Quick commerce company Zepto is now in discussions for fresh funding at a likely $2.5 billion valuation. It has held talks with the likes of General Atlantic, ADIA, among others.

The Economic Times The Economy of Election 2024

In a report, foreign brokerage Barclays said opinion polls suggest a large victory for the Bharatiya Janata Party (BJP) in the Lok Sabha elections, despite opposition parties contesting as one alliance. “A BJP win would mean policy continuity with fiscal consolidation on track. A larger mandate may allow the party to bring its political and economic priorities on board,” it said.

The Economic Times Bombay HC temporarily restrains Cognizant from using trademark logo identical to Atyati Tech

Before the court passed its order, Atyati Technologies argued that last year in October, the company was surprised to learn that the defendant (Cognizant Technology) was offering almost identical services relating to IT infrastructure, etc.

The Economic Times Kotak Mutual Fund files draft document with Sebi for special opportunities fund

The minimum application amount for lumpsum, SIP, and additional purchase investments will be Rs 100, and any amount thereafter. The minimum redemption amount for all plans will be Rs 1,000 or 100 units or account balance, whichever is lower.

The Economic Times Numax Realcom to invest Rs 1,000 crore in developing a township in Muzaffarnagar

Numax Realcon Consortium, a Delhi-based real estate developer, is set to invest Rs 1,000 crore in developing an integrated township in Muzaffarnagar, Uttar Pradesh. The project has received approval from the Muzaffarnagar Development Authority, allowing the construction of various facilities such as plots, villas, commercial complexes, schools, and police stations.

The Economic Times Tesla's Musk likely to unveil USD 2-USD 3 bn India investment during visit, sources say

India's EV market is small but growing and dominated by local carmaker Tata Motors. EVs made up just 2% of total car sales in 2023, but the government is targeting 30% of new cars to be EVs starting 2030.

The Economic Times India Inc investing in employee benefits despite constrained budgets, rising premiums, says Plum report

A survey by Plum reveals a doubling in adoption of customizable insurance programs for employees, a 15% rise in maternity benefits, and a 110% increase in comprehensive healthcare offerings. Amid budget constraints, companies prioritize employee well-being, with benefits now emphasizing sustainability. Startups lead in offering extensive health coverage and telehealth services

The Economic Times ESG consulting startup Uniqus raises $10 million in funding led by Nexus VP

Uniqus Consultech raised $10M Series B funding, expanding to 8 cities with 350 professionals. Funding to enhance services, enter new markets, and invest in technology. ESG market growth drives firms towards sustainability and governance focus for client value.

The Economic Times Adani family infuses Rs 8,339 cr more in Ambuja Cements, raises stake to 70.3%

The Adani family has fully subscribed to Ambuja Cements' warrants program, infusing an additional Rs 8,339 crore to raise their stake by 3.6%. The total amount infused now stands at Rs 20,000 crore, with their total stake in the cement company at 70.3%. The investment aims to achieve a capacity of 140 million tonnes per annum by 2028 and enable strategic initiatives such as debottlenecking capex and enhancing operational performance.

The Economic Times India’s policies subject to whims & fancies? Raghuram Rajan, Surjit Bhalla weigh in on why foreign investment is down

India's status as the fastest-growing major economy is undermined by inconsistent policies, hindering foreign investment flow, according to economists Raghuram Rajan and Surjit Bhalla. Despite recent attraction to global investors, policy uncertainty, high taxes, and erratic tariff changes deter sustained investment. Rajan emphasizes the need for predictability and ease of doing business.

The Economic Times Govt plans major capital goods production push

India is considering expanding its capital goods promotion scheme to include sectors like pharmaceuticals and textiles. The current scheme primarily supports electrical component and automobile manufacturing, but the government is now considering extending support to other sectors. Plans are also being considered to introduce new-age technologies beyond electric vehicles, batteries, and automobile manufacturing.

The Economic Times NARCL invites application for MD & CEO post

The National Asset Reconstruction Company (NARCL) is seeking a new managing director and CEO with 25 years of banking experience. The company has appointed P Santhosh as interim chief after the abrupt exit of MD&CEO N Sunder. The new MD and CEO will be given a three-year tenor and will acquire about Rs 2 lakh crore stressed assets in phases.

The Economic Times FY25 to be transformative year, says Vedanta's Anil Agarwal

"These include further deleveraging (parent) Vedanta Resources by USD 3 billion in the next 3 years and achieving an annual group EBITDA of USD 7.5 billion within 2 years," he said.

The Economic Times FPO funds to take care of Vi’s capex needs for 3 years: Akshaya Moondra, CEO

The balance sheet doesn’t pose any worries, with bank debt at less than Rs 4,500 crore, Moondra said, adding that the FPO will raise enough money to meet capital expenditure needs for three years, with 4G expansion the priority. This will help narrow and ultimately stem subscriber losses and lead to a financial turnaround.

The Economic Times Former Unacademy COO raises $11 million from Matrix, Lightspeed for new edtech venture

Bengaluru-based startup Beyond Odds Technologies will provide employability-led training, certification, and recruitment services in the grey-collar workforce segment. It connects employers on the demand side to its talent supply base among students.