REGULATORY HIT
Brokers' MTF hits record Rs 73,600 crore amid market highs, surging retail participation
Sebi's MTF framework mandates collateralising existing shares. Kotak Securities cautions investors on MTF investments amidst surging margin funding in anticipation of Modi 3.0 budget.
Threads hits 175 million users on first anniversary
Threads, Meta's alternative to X (formerly Twitter), has hit 175 million monthly users a year after its out-of-the-blue launch. Threads, which hit app stores on July 5 last year, is a spin-off of Instagram and is intended to be a rival to X, formerly known as Twitter, after that platform alienated many users and advertisers following Elon Musk's purchase in 2022.
Zomato gets Rs 9.5 crore tax demand, company to appeal against order
Food delivery company Zomato said it has received a tax demand from the Karnataka authorities, aggregating to Rs 9.5 crore. This is the latest of multiple orders the company has received previously; the last was Rs 11.82 crore in April.
Big US banks expected to be cautious on shareholder payouts
Big U.S. lenders brace for Fed stress tests evaluating capital resilience in economic hardships, impacting returns to investors amid challenges in regional lending and commercial real estate.
Tata Play’s loss widens 3-fold as DTH takes a hit
Tata Play’s net loss for fiscal 2024 surged more than threefold due to heightened competition in its direct-to-home (DTH) TV distribution business. The company reported a net loss of Rs 354 crore for the fiscal year ended March 31, compared to Rs 105 crore the previous year. Revenue from operations fell by over 4% to Rs 4,304 crore, while expenses rose 1.47% to Rs 4,761 crore. The DTH segment posted a net loss of Rs 247 crore, while the broadband business saw a narrower net loss and a 27% revenue increase.
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.
IT firms trim bench strength; GCCs focus on compliance
Happy Thursday! The country’s top IT firms have seen a massive drop in their bench strength, i.e. employees not on active projects. Find out why and more in today’s ETtech Morning Dispatch.
Crypto Talk: Election year economic policies could propel Bitcoin to new heights, predicts Rajagopal Menon of WazirX
2024 is projected to be a significant year for cryptocurrencies with government spending expected to rise, leading to a potential reduction in interest rates. Bitcoin's price surge post-halving is driven by factors like institutional demand and cyclical patterns. Rajagopal Menon says no one who has held Bitcoin for more than 4 years has ever lost money. Systematically buying Bitcoin every month, similar to investing in a mutual fund, can be an effective strategy.
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
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Markets peak on optimism, not on relative pessimism: Deepak Shenoy
It seems to be, but people seem to still be very scared. Everybody I am talking about is little worried that the markets will fall or that they have reached a peak and there is so much high. So, I think the problem is markets peak on optimism, not on relative pessimism, like we see today.
Fintech regulations to help those who follow rules: QED’s Nigel Morris
Nigel Morris, cofounder and managing partner at QED Investors, spoke to ET about the recent clampdown by India's central bank across various segments of new-age financial services, the funding environment, valuation of fintechs and more in an exclusive chat.
Digit to go public on May 15, looking to raise Rs 1,125 crore
Digit's upcoming IPO on May 15 aims to raise Rs 1,125 crore, delayed by Sebi compliance issues. Valued at $4 billion, Digit faced fines from IRDAI. With a new CEO, Digit is poised to enter the market.
Paytm stock slides after COO exit; India’s first microcontroller chip
Shares of Paytm parent One 97 Communications fell 5% on Monday after its president and chief operating officer Bhavesh Gupta resigned. More on this in today’s ETtech Top 5.
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.
BSE shares hit by Sebi's regulatory fee move
BSE said on Friday that Sebi has directed the exchange to pay a regulatory fee based on annual turnover, taking into account the 'notional value' of the options contracts. BSE has been paying this fee considering the value of the options premium. The fee based on premium value is lower than that taking into account the notional value.
Pay DTH operators lost 0.66 million subscribers in festive quarter
According to the Telecom Regulatory Authority of India's Performance Indicator Report for the quarter ending December 31, the pay DTH base of the four private DTH operators declined to 63.52 million from 64.18 million in the trailing quarter.
Regulatory curbs to hit IIFL Finance, JM Financial Products, say rating companies
CareEdge, Crisil, and ICRA Ratings have placed IIFL Finance under rating watch following the RBI ban on giving new gold loans. Neither of the rating companies has revised the ratings of both finance companies.
Bitcoin hits $50k level for first time in more than two years
The cryptocurrency has risen some 15.7% so far this year, on Monday touching its highest since Dec. 27, 2021. At 1721 GMT, bitcoin was up 4.8% on the day at $49,826, having oscillated around the $50,000 mark.
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