LARGE BANKS MINORITY STARTUPS
TRADERS’ CORNER: A luggage stock ready for 7% upmove & a rating agency for positional 6% trade
Mid cap and small cap stocks getting back momentum .
Zerodha to end zero-brokerage model; Unacademy lays off 250 employees
Online stock broker Zerodha will likely discontinue its zero-brokerage structure due to new Sebi rules. More on this in today’s ETtech Top 5.
Sensex, Nifty end with minor losses amid selling pressure in banks, auto stocks
The 30-stock S&P BSE Sensex ended the day at 79,441.45, dropping 35 points or 0.04% while the broader Nifty closed at 24,123.85, settling 18.10 points or 0.07% lower. Of the 16 sectoral indices on the NSE, 11 closed in the red while the remaining 5 ended in the green.
TRADERS’ CORNER: Auto ancillary focussed on EV trying to jump 5% and mid cap software stocks for 7% rise
The markets had a trending start to the fresh week; after a muted start, the Nifty went on to close near its high point of the day. Following a flat start, the Nifty 50 index formed the low point of the day in the early minutes of the session. After that, the Index kept inching higher throughout the session. Although the markets did come off slightly from their high point, they were able to protect the bulk of their gains. The headline index closed with a net gain of 131.35 points (0.55%)
TRADERS’ CORNER: A private bank and the holding company getting ready for 4 to 6% upmove
Momentum coming back to select stock from different sectors.
TRADERS’ CORNER: A pipe makers getting ready for 6% upmove and a agrochemical maker break resistance for 7% rise
Momentum stock are getting back their mojo
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Credit card bill payment hurdles; startup funding logs slight uptick
Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies. This and more in today’s ETtech Morning Dispatch.
Pause on the cards: Fintechs may take a hit as most banks stay away from BBPS
RBI mandates credit card bill payments through BBPS, but only 8 of 34 banks are live on the network, causing concern among payment companies like PCI for an extension.
Indian tech startup funding logs slight uptick at $4.1 billion in H1
Indian tech startups raised USD 4.1 billion in H1 2024, 4% higher than H2 2023, remaining fourth-highest funded country globally. Insights from Tracxn report highlighted funding trends and volumes in the Indian tech startup landscape.
India most attractive consumer market across the globe: Fibonacci X report
India is emerging as the most attractive consumer market globally, with consumption trends merging with large cities. The services sector is expected to drive strong economic growth, and India is poised to be a global hotspot for economic growth. Manufacturing growth has remained stagnant, but future growth depends on new policy initiatives.
Oyo finalises Rs 1,000 crore fundraise from Indian family offices
Oyo fundraise: Hospitality startup Oyo is raising around Rs 1,000 crore from family offices and investors. The fundraise aims to value Oyo at about $2.5 billion, marking a significant decrease from its peak valuation of $9 billion in 2021. Oyo is slated to hold an extraordinary general meeting (EGM) on Tuesday to approve the fundraise.
India a hotbed for startups and key market for Google Cloud: global sales head
Google Cloud's president-global sales, Matt Renner, highlighted India's significance as a key global market for startups. Renner emphasized the company's increased investments in Indian startups, particularly in the field of artificial intelligence innovation.
Startups seek support, policy continuity from new govt
As of 6.30 pm, data from Election Commission showed the incumbent BJP leading with 241 seats, opposition Congress with 98 seats -- leaving both parties short of the 272 Lok Sabha seats needed to form a government and increasing the chances of a coalition.
Startup layoffs in 2024: Ola Electric, Byju’s, Flipkart among firms shedding jobs
Indian startups and large new-age companies have been cutting down their workforce since the beginning of this year.
As work-from-home trend declines, flexible office spaces work for employees and companies
Providing convenience and flexibility for employees on one hand, cost-effectiveness, and asset-light models for employers on the other, coworking/managed spaces are booming. Demand for such spaces is soaring in large metros and Tier-2 cities alike as companies tighten return-to-office rules.
F&O Talk | Nifty facing minor speed bumps amid election jitters; may see consolidation post results: Rahul Ghose of Hedged.in
"The rollover data and the price action on the index suggest that Bank Nifty will not be a laggard anymore. The line in the sand to cross is 50,500. Once this level is taken out, you can expect a decent rally on this index."
EQT's growth fund to pursue deals of $50m-250m in India
EQT's $1.6 billion BPEA EQT Mid-Market Growth Partnership (MMG Fund) targets deals of $50 million-250 million in India, focusing on controlled investments in tech services, healthcare, and the financial sector, with a preference for single specialty hospitals, pharma, and diagnostics.
France looks to elusive EU capital market to fix startup funding
A hodgepodge of local regulations and oversight has kept Europe's financial markets largely shaped by national borders, preventing the emergence of deep capital markets to rival the United States.
Lesson for entrepreneurs: What are the common mistakes startup founders make and how to avoid them?
India has the third largest startup ecosystem in the world, with 1.17 lakh entities (DPIIT), nearly 1,710 venture capital funds, 794 accelerators and incubators (Tracxn), and several government initiatives like Startup India. Despite this fervour and support, financial and otherwise, the startup journey is extremely difficult.ET Wealth lists the typical mistakes most founders make and tell you how to tackle these
ETMarkets Fund Manager Talk: Valuation of PSU stocks isn't as attractive, says Franklin Templeton’s Akhil Kalluri
Akhil Kalluri, VP at Franklin Templeton, discusses PSU stocks, retail liquidity impact, and broader market valuation risks. He also comments on tech stocks, consumption names, and industrial sectors' performance in the March quarter. Kalluri points out that the aggregate topline & EBITDA growth for Nifty 50 names in 4QFY24 so far are relatively muted, in high single digits.
All group businesses going through transformation over next couple of years: Shashwat Goenka, RPSG Group
Shashwat Goenka envisions significant growth and transformation across diverse sectors within the RPSG Group. The strategic focus includes retail expansion, innovative health food offerings, client-centric BPO services, and a transition to greener energy sources for sustainable growth.
SoftBank back at deal counter with Icertis deal talks
Tech VC in funding talks with portfolio co Icertis, which is stitching up a $150m secondary round
Here's why Anshul Saigal is bullish on manufacturing stocks
Now, we are in a phase today where we are close to, of course, election, markets have rallied before. So, clearly one has to be cautious but this is not a time to be sitting on cash because we really do not know what the event is going to throw up.
Unicorn sightings slump; Tata’s chip exports
Happy Tuesday! Despite deal activity in late-stage startups showing signs of a revival, new unicorns aren’t being birthed. This and more in today’s edition of ETtech Morning Dispatch.
Unicorn sightings become rare as VCs shun that leap of faith
Investors are going back to the same list of startups they have already backed to write bigger cheques leading to new unicorn sightings becoming rare. Only Perfios and Ola founder Bhavish Aggarwal’s Krutrim AI have become unicorns so far in 2024, and the number was the same for the whole of 2023.
Should investors be contra buyers in IT? Rajeev Thakkar answers
In each bull market, there will be pockets of exuberance, but there will be some other pockets which will be out of favour and that is where we tend to look for opportunities.
States & online gaming regulations; banks tap startups to foil frauds
Happy Monday! In the absence of central government’s self-regulatory mechanisms, states are framing laws for online real money gaming. This and more in today's ETtech Morning Dispatch.
Employees despair as bell tolls for Paytm Payments Bank; and other top startup & tech stories this week
While the regulatory action on Paytm Payments Bank managed to bring the entire business to a standstill, its largest business partner Paytm moved on to build new relationships with other lenders. Now its CEO who had joined the bank hardly a year back is set to leave by June 26.
How to invest in mutual fund for minor kid? Edelweiss MF CEO Radhika Gupta shares five tips for parents
Radhika Gupta, CEO of Edelweiss Mutual Fund, has shared tips on investing for minors. Her insights sparked discussions, addressing common concerns like obtaining a PAN and opening a bank account for minors. Gupta's post has garnered over 1.6 lakh views, with users engaging on managing minor investments online. Despite challenges, optimism prevails, reflecting growing interest in financial planning for the younger generation.
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