In a dynamic landscape where innovation intersects with technology, India has witnessed a remarkable surge in deep science tech investments over the past decade. According to the latest report by VC firm Ankur Capital titled ‘The India Deep Science Tech Report,’ investments in this sector have more than doubled in the last three years, surpassing $1 billion during the 2021-2023 period. This exponential growth trajectory is projected to escalate further, potentially exceeding…
KPI Green Energy Ltd, the solar and hybrid vertical of KP Group, has reported a stellar performance in the December quarter, posting a remarkable 47% rise in consolidated net profit to Rs 50.60 crore. The company’s robust financial results reflect its steadfast commitment to excellence and innovation in the renewable energy sector. Key Financial Highlights: Driving Force Behind Performance: KPI Green Energy Ltd’s impressive financial performance can be attributed to its unwavering…
Ayekart, a pioneering agrifood fintech platform, has made waves in the industry by raising $6.5 million (₹53 crore) in a Series A funding round led by Omnivore, Siana Capital, and Unleash Capital. This substantial capital infusion signals a new chapter of growth and expansion for Ayekart, as it seeks to revolutionize the agrifood value chain and empower stakeholders across the ecosystem. Driving Nationwide Expansion: With the influx of capital, Ayekart is poised…
The National Mineral Development Corporation (NMDC), a key player in India’s mining sector and under the Ministry of Steel, recently announced its financial results for the third quarter of the fiscal year 2023-24, showcasing a remarkable performance. Key Highlights: 1. Significant Rise in Consolidated Net Profit: NMDC reported a substantial 62% increase in consolidated net profit, reaching ₹1,469.73 crore in the December quarter compared to ₹903.89 crore in the corresponding period last…
In the realm of emerging market stocks, a significant recalibration is underway as India steadily narrows the gap with China in MSCI’s Global Standard index. With the latest revision, India’s weightage in the index has surged to an all-time high of 18.2%, marking a remarkable milestone for the country’s equity market. This uptick in India’s representation comes at the expense of China, whose weight in the index has dipped to 25.4%, down…
In a resolute stance, Reserve Bank of India (RBI) Governor Shaktikanta Das has reiterated the central bank’s decision against Paytm Payments Bank, emphasizing that there is “hardly any room for review.” The directive, issued on January 31, mandated Paytm Payments Bank Ltd (PPBL) to cease accepting deposits or top-ups in any customer accounts, wallets, FASTags, and other instruments after February 29. The RBI’s action against PPBL stemmed from persistent non-compliances and ongoing…
The price of bitcoin soared above $50,000 on Monday, marking a significant milestone for the cryptocurrency and highlighting a notable shift in investor sentiment since the introduction of mainstream bitcoin investment funds earlier this year. Bitcoin, the leading cryptocurrency in the industry, has witnessed a nearly 15 percent increase in value since the beginning of the year, largely fueled by the US Securities and Exchange Commission’s decision to approve several spot bitcoin…
In the bustling landscape of Indian IT firms, generative AI emerges as a beacon of promise, propelling innovation and efficiency across various sectors. With the top 10 IT companies in India actively delving into approximately 450 generative AI projects and Proof of Concepts (PoCs), it’s evident that the industry is embracing this transformative technology wholeheartedly. In a recent conversation with AIM, Partha DeSarkar, Group CEO at Hinduja Global Solutions (HGS), shed light…
India’s Unified Payment Interface (UPI) services, along with RuPay card services, marked a significant milestone on February 12 as they were rolled out in Sri Lanka and Mauritius. Prime Minister Narendra Modi hailed this development as a bridge between historic ties and modern digital technology, underscoring India’s commitment to fostering stronger digital connectivity with its neighbors. At a virtual ceremony attended by Prime Minister Modi, Mauritian Prime Minister Pravind Jugnauth, and Sri…
Last week witnessed an impressive surge in smallcap stocks, with over 25 companies experiencing double-digit rises in their stock prices, ranging from 20% to 65%. Despite a marginal weekly decline in the benchmark BSE Sensex, the broader S&P BSE Smallcap index soared to a fresh record high of 46,821.39, driven by notable gains in select stocks. Leading the pack were companies like Olectra Greentech, Balaji Telefilms, and Jaiprakash Power, whose stellar performances…
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