Page 3072 - Business Finance
Flinto secures Rs.60mn to drive expansion
Flinto Learning Solutions Private Limited, an educational start-up focusing on activity-based learning for kids, raised Rs. 60 million from InnoVen Capital, a venture debt and specialty lending firm.The company will use the funds towards expanding its domestic presence, as well as venturing into international markets such as Southeast Asia and the Middle East.On the other hand, InnoVen Capital, through this investment, aims to strengthen its focus on the burgeoning education sector, particularly the emerging early education segment.The company's flagship activity box - Flintobox- has seen rapid growth since its inception in 2013. It is currently present in over 700 cities and caters to children in the age group of 2-12 years. The company recently expanded into the unorganised pre-school segment through its enterprise offering, 'FlintoClass', which provides everything needed to run a preschool."Having built a subscription business on solid unit economics that gives us optimal cash ...
Rupee stable at 68.54 vs USD ahead of RBI policy outcome
The rupee recovered from early losses, trading steady at 68.54 against the American currency in late morning deals ahead of key RBI policy decision due later today. The rupee inched a tad lower at 68.55 from yesterday's closing level of Rs 68.54 at the interbank foreign exchange market here. It slipped further to 68.60 before recovering to trade higher at 68.48. The domestic unit was trading stable at its overnight level of 68.54 at 1030 hrs. The Indian unit hovered between 68.48 and 68.60 during morning deals. The central bank is expected to maintain its neutral policy stance given the volatility in crude oil and food prices as well as inflationary concerns, a dealer said. Overseas, the US dollar rose against its major peers in early Asian trade, while edging up on the yuan after a source said the White House was about to propose higher tariffs on USD 200 billion in Chinese imports, perhaps sparking a new round of trade hostilities. Meanwhile, the 30-share BSE Sensex is trading ...
Volumes soar at Housing Development Finance Corporation Ltd counter
Housing Development Finance Corporation Ltd clocked volume of 12.18 lakh shares by 10:47 IST on BSE, a 18.34 times surge over two-week average daily volume of 66417 shares
Myntra partners with WebEngage to power their user engagement strategy
Online fashion retail major Myntra has announced choosing the employ services of marketing automation platform WebEngage to power their User Engagement strategy.The partnership between the two will provide Myntra with the technological firepower required to enhance their on-site user engagement, create highly-personalized brand experiences at scale and bolster their user retention strategy.Myntra is a household name in online fashion retail, with millions of users logging in daily to browse through over five lakh products from 2500+ brands across multiple categories.Myntra wanted to constantly deliver a valuable user experience to their users, and simplify the entire shopping experience by making it more intuitive.Having looked at multiple options in the market, they zeroed in on WebEngage's full-stack Marketing Cloud platform to help them automate their user engagement intelligently, and create a positive uptick in conversions."Retention is a critical frontier for a brand like Myntra
Escorts records 3.5% growth in tractor sales in July 2018
Domestic tractor sales rose 3.9% at 5483 units in July 2018 compared to 5275 tractors sold in July 2017.
Bajaj Auto records 30% growth in July sales
Sells 4 lakh units in July 2018
Gold futures slip 0.16% on weak global cues
Gold prices drifted lower by 0.16 per cent to Rs 29,830 per 10 grams in futures trade today as participants trimmed positions, tracking a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in October fell by Rs 48, or 0.16 per cent, to Rs 29,830 per ten grams in business turnover of 274 lots. Likewise, the yellow metal for delivery in August contract shed Rs 23, or 0.08 per cent, to Rs 29,630 per ten grams in five lots. Market analysts said sentiment turned bearish after gold prices came under pressure in global markets today as news that the Trump administration has plans to propose higher tariffs on Chinese goods stoked demand for the US dollar. Meanwhile, gold prices fell 0.22 per cent to USD 1,220.70 an ounce in Singapore today.
India's factory growth eases in July on weaker demand - PMI
BENGALURU, Aug 1 (Reuters) - Growth in India's manufacturing industry slowed last month, largely pressured by a modest weakening in demand and output, though overall conditions remained solid, a private survey showed on Wednesday.
Huawei pips Apple as Samsung leads global smartphone market
Chinese tech conglomerate Huawei surpassed Apple to become the second largest smartphone brand worldwide in the second quarter of 2018 as South Korean giant Samsung continued to be the global leader, two reports said on Wednesday.
Tata Motors slumps after reverse turnaround in Q1
Tata Motors lost 3.39% to Rs 255.20 at 10:13 IST on BSE after the company reported consolidated net loss of Rs 1862.57 crore in Q1 June 2018 as compared to net profit of Rs 3199.93 crore in Q1 June 2017.
Strong market breadth
Key indices pared gains in morning trade after hitting fresh intraday high in early trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 53.06 points or 0.14% at 37,659.64. The Nifty 50 index was up 24.90 points or 0.22% at 11,381.40.
Huawei overtakes Apple as world No. 2 smartphone seller, gains ground in China
HONG KONG/SINGAPORE (Reuters) - China's Huawei Technologies overtook Apple Inc to become the world's second-biggest smartphone seller in the June quarter, data from market research firms showed, as it gained ground in Europe and expanded its lead back home.
Apple shares rise on pricey iPhones; no tariff impact yet
Apple made more money from higher priced iPhones in the latest quarter, even as the number of phones it sold did not change much. The sluggish unit growth means Apple is no longer the second-biggest smartphone maker behind Samsung. Huawei took that spot, research firm IDC said yesterday, with 54.2 million phones versus Apple's 41.3 million. The company's earnings were announced amid escalating rhetoric around tariffs between the US and China. CEO Tim Cook said that while the company's products hadn't been hurt by tariffs imposed so far, Apple is still examining the impact of proposed US tariffs on USD 200 billion worth of Chinese goods. Cook said he's "optimistic" the countries will work out their differences. "Each country can only prosper if the other does," he said. Despite the trade war, China remains one of Apple's best markets, posting double-digit revenue growth in the country for the fourth quarter in a row, Cook said. Globally, higher selling prices for devices like the ...
China to probe online discounter Pinduoduo over reports of counterfeit goods
BEIJING (Reuters) - China's markets regulator said on Wednesday it has asked Shanghai regulators to investigate online discounter Pinduoduo Inc following media reports of counterfeit goods and intellectual property infringements.
Global Markets: Asian shares edge up, but U.S. tariff plan stokes trade fears
SHANGHAI (Reuters) - Most Asian shares crept higher on Wednesday following a firm Wall Street finish, but gains were curbed by weak data in the region and intensifying fears over volatile Sino-U.S. trade relations.
Apple quarterly profit leaps, nears USD 1 trillion value
Apple has said its profit had jumped more than 30 per cent to USD 11.5 billion in the recently ended quarter, besting market expectations despite selling fewer iPhones than analysts projected. The news boosted shares in the tech giant in after-hours trading, putting it ever closer to a history-making, trillion-dollar market value, even as China's Huawei knocked Apple off second spot in a tightening global smartphone market. Apple's revenue in the fiscal third quarter soared 17 per cent to USD 53.3 billion from the same period a year earlier on the back of sales of pricier iPhones, online services and wearable devices. "We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth," chief executive Tim Cook said in the earnings release yesterday. Apple sold 41.3 million iPhones in the quarter that ended June 30, just shy of the 42 million figure anticipated by analysts. Shares in the Silicon Valley-based technology titan rose
China Stocks fall as Caixin China PMI hits a low
The Caixin/Markit Manufacturing Purchasing Managers' index (PMI) declined to 50.8 in July from June's 51.0. The drop in growth pace of China's manufacturing sector in July 2018 was due to decline in export orders amid an intensifying trade dispute with United States. The Caixin survey results were broadly in line with an official PMI released on Tuesday showing slower factory growth in July, with the manufacturing index slipping to 51.2, from June's 51.5. China's official PMI gauge focuses on large companies and state-owned enterprises, while the reading by Caixin and IHS Markit focuses on small and medium-sized enterprises.
Australia Market mixed; Banks fall, miners gain
Shares of banks and financial companies were biggest drag on the index's, with 'Big Four' ANZ Banking, National Australia Bank, Commonwealth Bank and Westpac - were down in a range of 1% to 1.5%.
Japan Stocks gain on upbeat offshore lead, weaker yen
Japan's central bank on Tuesday revised down inflation forecasts, making only small tweaks to a monetary policy that has so far fallen short of lifting prices and boosting the world's third-largest economy.
Apple's pricey iPhone X, subscriptions deliver earnings beat
(Reuters) - Apple Inc sales led by the pricey iPhone X pushed quarterly results far beyond Wall Street targets on Tuesday, with subscriptions from App Store, Apple Music and iCloud services bolstering business.