After two pandemic-hit years, this Dhanteras is expected to bring festive cheers to the jewellers in India as people flock to the stores in large numbers to buy precious metals ahead of Diwali. More on that in our top headlines for this evening
Festive cheer for jewellers as Dhanteras fetches bumper gold sales
Indians flocked to jewelry stores on Tuesday on the biggest gold-buying day of the year, with a bumper sales period for precious metals that culminates in the festival of Diwali expected for the first time since the pandemic began.
Dhanteras is traditionally seen as the most auspicious day in the Hindu calendar to buy gold, with many shops remaining open until midnight and jewelers offering discounts and gifts. Indians typically buy ornaments for marriage celebrations, and coins and bars for investment surge during a series of celebrations that culminates with Diwali, or the Festival of Lights, which falls on Thursday. Read more
Mamata's Trinamool wins all four by-polls in Bengal, wrests 2 from BJP
The ruling Trinamool Congress on Tuesday worsted its rivals by record margins, to romp home to a 4-0 clean sweep in by-elections held on October 30.
The TMC wrested the Dinhata and Santipur seats in Coochbehar and Nadia districts respectively from the BJP by huge margins, to raise its tally to 215 in the 294-member West Bengal assembly. Read moreHow OYO's pivot to revenue share helped it survive the Covid-19 pandemic
Even as Oyo prepares for its initial public offering amid rising challenges, a look at its numbers show that the company has managed to survive the jolt of Covid-19 to the travel industry, and setbacks in key markets.
The company in its Draft Red Herring Prospectus (DRHP) filed with market regulator Securities and Exchange Board of India (Sebi), also mentions that it has had to pivot over the years as business dynamics changed. Read more
Ola posts first-ever operating profit of Rs 90 cr in FY21 amid pandemic
Ride-hailing firm Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as its revenue declined 65 per cent to Rs 689.61 crore amid Covid-19 induced lockdowns.
ANI Technologies, the parent company of Ola, had reported standalone operating profit (profit before finance cost, depreciation, amortisation and tax or EBITDA) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the previous fiscal year, according to the regulatory documents sourced from business intelligence platform Tofler. Read more
Logistics startup Delhivery files DRHP with Sebi for Rs 7,460 cr issue
Logistics startup Delhivery today filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), for an issue size of Rs 7,460 crore.
The primary issue will be of Rs 5,000 crore, which the company will raise via public issue. The offer for sale by the existing investors will be Rs 2,460 crore. Read more