In a promising milestone for India’s e-commerce industry, Flipkart Internet reported an impressive Gross Merchandise Value (GMV) of $8.5 billion for FY24. This growth comes as Flipkart simultaneously managed to reduce its losses, showcasing its commitment to profitability in a competitive digital market.
Rising GMV and Market Impact
Flipkart’s growth is particularly significant given the…
The Indian stock market faced a sharp downturn in October 2024, experiencing the highest monthly outflow from foreign portfolio investors (FPIs) in history, with an unprecedented ₹82,000 crore pulled from Indian equities. The reasons behind this record exodus range from geopolitical tensions, particularly the Israel-Iran conflict, to attractive opportunities in the Chinese market fueled by…
ICICI Bank has reported a remarkable financial performance for the second quarter of FY24, showing a strong year-on-year growth in net profit and net interest income. This solid performance reflects the bank’s improved operational efficiencies and strategic growth measures, achieving significant market interest amid economic uncertainties.
Impressive Growth in Profit
For Q2 of FY24…
In an unusual turn of events, the JioHotstar domain, originally purchased by a Delhi-based developer aiming for a substantial profit, has now become the face of a philanthropic mission led by two Dubai siblings. Once a prized acquisition linked to the JioCinema and Disney+ Hotstar merger, the domain now promotes charity and social impact initiatives, captivating public interest and raising…
AquaExchange, an IoT-powered aquaculture technology startup, has achieved a significant revenue milestone, crossing Rs 100 crore in the fiscal year 2024. The company, founded by Pavan Kosaraju, is redefining India’s aquaculture industry with a unique blend of technology and finance solutions designed to tackle key issues for fish and shrimp farmers. This remarkable growth highlights…
IndusInd Bank witnessed a sharp 19% drop in its share price, hitting a 52-week low on concerns over escalating microfinance loan stress. The bank, part of the Hinduja Group, faced heightened pressure after releasing a disappointing Q2 earnings report, highlighting key issues such as rising provisions, moderate loan growth, and a concerning uptick in microfinance slippages.
Q2 Earnings…
When Ratan Tata stepped down as the Chairman of Tata Sons, many speculated that his half-brother, Noel Tata, would be a strong contender to take up the role. However, a rule established by Ratan Tata in 2022 has effectively barred Noel Tata from ever becoming the Chairman of Tata Sons. This surprising rule has raised eyebrows in the corporate world, especially as Noel Tata had long been seen as a…
In a remarkable demonstration of growth and profitability, online travel aggregator ixigo has reported an impressive revenue surge for Q2 FY25. The company posted a 26% year-on-year growth in revenue, reaching Rs 206.5 crore compared to Rs 163.9 crore in the same period last year. Profitability also surged, with ixigo recording a Profit After Tax (PAT) of Rs 13 crore.
ixigo’s Winning…
Mumbai-based direct-to-consumer (D2C) brand Zouk, known for its eco-friendly products, is raising $10 million in a fresh funding round led by Aavishkaar Capital. This marks a significant step for the brand, which specializes in handmade, cruelty-free, and vegan leather items such as laptop bags, wallets, and handbags.
Zouk’s Rise
Founded in 2015 by Disha Singh and Pradeep Krishnakumar…
In recent years, the Indian startup ecosystem has been booming with multiple venture capital-backed companies exploring public market options through SME IPOs. Key players like Leverage Edu, Bhive, and IntrCity, backed by Blume Ventures, Stellaris, and 8i Ventures, are leading this trend by capitalizing on growing investor confidence in small and medium enterprises.
The Rise of SME IPOs in…
