10:45 am
VAHDAM India raises ₹174 cr from IIFL AMC, others
Premium tea and wellness product maker VAHDAM India has raised Rs 174 crore from investors including private equity fund of IIFL AMC to expand its business globally and foray into new categories. PTI informed of.
The Series D round of funding also saw participation from existing investors, including a consortium of partners from Sixth Sense Ventures, Mankind Group Family Office, Infosys founder Kris Gopalakrishnan’s family office, Urmin Group and White Whale Ventures.
10:30 am
OYO increases authorized share capital to ₹901 crore
Orawell Stages Private Limited, which operates hospitality firm OYO, has approved to increase the authorized share capital of the company from ₹1.17 crore to ₹901 crore, according to a regulatory filing by the hospitality firm.
The development comes ahead of the initial public offering (IPO) proposed by OYO, for which a draft red herring prospectus is likely to be filed in the next few months, PTI The news has been given quoting sources familiar with the matter.
10:11 am
Intel to invest up to 80 billion euros to increase EU chip capacity: CEO
Intel said on Tuesday It could invest as much as 80 billion euros in Europe Will open its semiconductor plant in Ireland for more automakers to boost the region’s chip capacity over the next decade.
Intel CEO Pat Gelsinger, speaking at the IAA auto show in Munich, also said the company would announce the locations of two major new European chip manufacturing plants by the end of the year.
10:01 am
not crypto currency; Need to be regulated as an asset: Former RBI DG Gandhi
Former RBI deputy governor R. Gandhi made a case for it on Tuesday Treating and regulating crypto as a separate asset class With a view to enable governments around the world to effectively deal with illegal activities involving virtual currencies.
After much debate over the years, he said, people have fully understood that crypto cannot be a currency because the fundamental element of a currency—that it should be a legal tender—is missing in this case.
9:46 am
RBI widens tokenization to ensure security of card data
To ensure the security of card data, the Reserve Bank of India (RBI) has widened the scope of tokenization and allowed card issuers to act as token service providers, PTI informed of.
The report said that the RBI has extended device-based tokenization to card-on-file tokenization services, a move that would prevent merchants from storing actual card data.
It said the decision will strengthen the security and security of card data while continuing to facilitate card transactions.
9:32 am
Govt considering allowing SEZ dwellers to sell locally
The government is considering a proposal Allowing producers in Special Economic Zones (SEZs) to sell their produce in the domestic market without treating them as imports. It is also reviewing the exclusion of export-oriented units and SEZs from the recently notified tax refund scheme for exports.
9:19 am
Indian benchmark indices opened on a flat note
The Indian index opened on a flat level on Wednesday amid sluggish cues from global markets. The BSE Sensex opened up 71.08 points at 58,350.56, while the Nifty opened up 13.65 points at 17,375.75.
On Tuesday, the 30-share BSE Sensex closed 17.43 points or 0.03% lower at 58,279.48, while the broader NSE Nifty fell 15.70 points or 0.09% to 17,362.10.
9:09 am
Hurricane Ida. Oil Soars Amid Slow Supply Return After
Oil prices rose on Wednesday, reducing losses overnight, as producers in the US Gulf of Mexico struggled to restart operations nine days after Hurricane Ida, a Reuters Report noted.
Brent crude futures rose 0.2% to $71.83 a barrel, while US West Texas Intermediate crude futures rose 0.4% to $68.62 a barrel.
9:00 am
Asian stocks edge up in bright trade
Asian stocks hovered near six-week highs on Wednesday as a more risk-averse mood spread from the United States to the market overnight, fueled by concerns about slowing growth that hurt equities, Reuters informed of.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.13% with post gains, if ever smaller, for 11 of the past 12 sessions.
Japan’s Nikkei reversed early losses and was last up 0.82%, Australia slipped 0.32%, Chinese blue chips fell 0.04%, and the Hong Kong benchmark rose 0.12%.
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