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Bloomberg Quint
19h
159
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Indian Aviation Industry To Post Net Loss Of Upto Rs 3,000 Crore In FY25, FY26: ICRA
- The Indian aviation industry is projected to post a net loss of up to Rs 3,000 crore in fiscal year 2025 and fiscal year 2026, as compared to a net profit of Rs 1,600 crore in fiscal year 2024.
- The projected losses are due to anticipated pressure on yields as airlines strive to maintain adequate passenger load factor amid elevated aviation turbine fuel prices.
- The fuel cost accounts for around 30-40% of the airlines' expenses, putting further pressure on profitability.
- The industry-wide net losses are expected to remain range-bound, and the recovery in industry earnings is likely to be gradual.
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Bloomberg Quint
19h
136
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Mumbai DRM Issues Clarification On Goa-Bound Vande Bharat Train's Deviation After Akhilesh Yadav's Post
- The Divisional Railway Manager of Mumbai's Central Railway issued a clarification regarding the change of route that the CSMT Madgaon Vande Bharat express train had taken stating that the train had not derailed but had taken a different route due to technical difficulties.
- The train deviated from its original course due to a technical snag at the Diva station in Thane, Maharashtra. This delayed the train's journey by 90 minutes and also caused a delay in Mumbai's local train services.
- Officials had said that the train diverted to the Kalyan route instead of Goa, its intended destination.
- The incident was caused by a failure in the signalling and telecommunications system at Diva Junction, which led the train to move to Kalyan station and then reverse back to Diva before continuing its journey to Madgaon.
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Bloomberg Quint
19h
341
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Rupee At 85.2: Indian Currency Ends At Record Closing Low Against Surging Dollar
- The Indian rupee closed at a record closing low of 85.20 per dollar on Tuesday.
- The rupee fell to a new low of 85.21 against the US dollar during intraday trade.
- Factors contributing to the rupee's depreciation include sustained dollar strength and global pressures.
- Analysts expect the rupee to trade within a range of 84.70 to 85.20 in the near term.
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Saastr
19h
51
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Dear SaaStr: What Were The Top Pieces of Advice You’re Glad You Ignored?
- 1. Ignored advice against VC investments in the first year and successfully invested in unicorns like Pipedrive and Algolia.
- 2. Didn't quit despite the odds, ended up having customers and making progress.
- 3. Started a startup despite conventional wisdom, sold it for $50 million later.
- 4. Joined a startup for less money but for career growth and acceleration.
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3 Likes
Bloomberg Quint
20h
255
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Kohinoor Foods Share Price Hits Upper Circuit After Approval Of One-Time Settlement
- Kohinoor Foods Ltd. share price hits upper circuit after approval of one-time settlement.
- The company's accounts were declared non-performing assets in June 2018.
- The settlement proposal includes repayment of Rs 227.45 crores along with delayed interest.
- The share price of Kohinoor Foods has risen by 19.98% to Rs 48.40 apiece.
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15 Likes
Bloomberg Quint
20h
51
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IPO GMP Today: Carraro India vs Senores Pharmaceuticals vs Unimech Aerospace vs Ventive Hospitality
- Unimech Aerospace IPO has the highest grey market premium, expected to list at a 65% premium over IPO price.
- Carraro India IPO has no grey market premium, fully subscribed as of Tuesday.
- Senores Pharmaceuticals IPO has a grey market premium of Rs 230 per share, estimated listing price suggests a potential gain of 58.82%.
- Ventive Hospitality IPO has a grey market premium of Rs 50 per share, indicating a potential gain of 7.78%.
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Coinpedia
20h
230
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Elon Musk’s xAI Secures $6B Funding: Backed by Blackrock, NVIDIA, and More
- Elon Musk's AI company, xAI, has secured $6 billion in its Series C funding round.
- The funding round is backed by investors like A16Z, Blackrock, Fidelity, and Sequoia Capital, as well as strategic investors NVIDIA and AMD.
- xAI plans to use the funds to expand its supercomputer, Colossus, with more powerful Nvidia GPUs.
- With a valuation of $50 billion, xAI is a strong competitor to OpenAI and is rapidly growing in the AI market.
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13 Likes
Bloomberg Quint
20h
196
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'Buy' Maintained On KEI Industries By Systematix; Upgrades Target Price On Robust Outlook, Fund Raise
- Systematix Institutional Equities has maintained a 'Buy' rating on KEI Industries.
- They have upgraded the target price on the company due to its robust outlook and fund raise.
- Continued strong financial results will keep investor's interest high in KEI, according to Systematix.
- KEI Industries is a manufacturer of electrical cables and wires.
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11 Likes
Bloomberg Quint
20h
153
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Nissan, Honda Merger To Be Credit Positive, To Help Become Third Largest By Volume: Moody's
- The merger between Nissan Motor Co. and Honda Motor Co. will help create the world's third-largest automaker by volume by sharing costs and building stronger credit quality.
- The merged unit will allow the automakers to share research and development costs, benefiting the introduction of new electrified powertrain models in regions like China.
- Honda is considered the stronger credit in the merger, reflecting a better track record of stable profit and cash flow, diversification outside of automobiles into motorcycles.
- The integration can help mitigate potential effects of increased tariffs on imports to the US and enhance product diversification for Nissan.
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VIE Stories
20h
85
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Fintech Startup Zaggle Raises Rs 595 Cr At 5% Discount
- Zaggle Prepaid Ocean Services, a fintech startup, has raised ₹595 crore through a qualified institutional placement.
- Bank of India purchased the largest share, buying 16.8% of the shares, followed by Societe Generale with a 9.2% stake.
- Zaggle plans to use the funds for strategic growth through mergers and acquisitions in the SaaS fintech space.
- In Q2 FY25, Zaggle achieved record year-over-year growth in revenue, with a 64.21% increase, and net profit after tax surged by 167.67%.
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5 Likes
Bloomberg Quint
21h
115
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Dharavi Redevelopment Project Beneficiaries To Pay Nil Maintenance Charges For First 10 Years
- The beneficiaries of the Dharavi Redevelopment Project will not be required to pay maintenance charges for the first 10 years.
- During this period, the developer will take full responsibility for the upkeep of the societies.
- Additionally, the state government has planned to allocate 10% of the built-up area of rehabilitation component for commercial spaces, creating a revenue-generating model.
- The project aims to uplift entire neighborhoods and provide better homes, facilities, and amenities for the residents.
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Bloomberg Quint
21h
234
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Akums Drugs Inks Rs 1,760-Crore Pact To Make, Supply Oral Liquid Formulation To European Countries
- Akums Drugs and Pharmaceutical Ltd. has signed a pact with a global pharma company to manufacture and supply selected pharmaceutical formulations in European market.
- Akums group will manufacture and supply multiple SKUs of oral liquid formulation to be marketed in multiple European countries.
- The commercial supply of these products from Akums will commence in 2027.
- The composite value of the agreement is approx. Euro 200 million or Rs 1,760 crores.
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14 Likes
VIE Stories
21h
912
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EPACK Prefab Raises $20Mn In Its First Funding Round
- EPACK Prefab raises $20 million in its first funding round from GEF Capital Partners.
- The funds will be used to expand manufacturing facilities and upgrade equipment.
- EPACK Prefab aims to revolutionize construction practices and focus on sustainability.
- The company set a record by building India's fastest structure in 150 hours.
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Bloomberg Quint
21h
294
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Car Makers See Sharp Slump in December Sales; Tata Motors, Maruti Biggest Losers
- Tata Motors is experiencing a tough time in the market due to increased competition from other electric car makers and a slowdown in SUV sales.
- Maruti Suzuki has seen a significant decline of 27% in sales in December, while Toyota, which shares models with Maruti, has only experienced a 3% fall in sales.
- Hyundai India is also affected by the sales slump as the growth in SUVs has slowed down.
- M&M continues to outperform the industry with a 20% growth in sales between April and November this year.
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Bloomberg Quint
21h
40
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Ganesh Consumer Products IPO: Patanjali Rival Files Draft Papers, Eyes Rs 130 Crore Via Fresh Issue
- Ganesh Consumer Products Ltd. has filed draft papers with the Securities and Exchange Board of India for its initial public offering (IPO).
- The IPO includes a fresh issue of shares worth Rs 130 crore and an offer-for-sale (OFS) component of 1.24 crore shares.
- The net proceeds from the fresh issue will be used for repayment of borrowings, funding capital expenditure, and general corporate purposes.
- Ganesh Consumer is a Kolkata-based FMCG company known for its packaged whole wheat flour and wheat-based derivatives.
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