Page 4 - Top Business Stories

Fintech unicorn Slice raises $50 mn funding led by Tiger Global, others

With its core credit product set to become profitable in the months ahead, Slice will use the new capital to shore up its balance sheet and support expansion of its new UPI product

Credit offtake remains robust in April across sectors, shows RBI data

Loans to medium-sized industries gerew 53.5% this April as compared with 44.8% a year ago

Around 31 mn households demand work under MGNREGA in May, up 11% YoY

The figure is also much higher than the corresponding pre-Covid period, data shows

Nifty Metal index crashes 16% in May, sees sharpest fall since March 2020

Fall comes on the back of the govt's decision to impose export duty on steel in a bid to cool off domestic prices

Changing themes: What World Economic Forum talked about in 52nd conference

While 'save the planet' remained the top topic of discussion in the WEF publications, finding reference in 141 of the 328 articles published last week, media discussions focused on geopolitics

Irdai fines Deinon Risk Rs 10 lakh for acting as insurance intermediary

The firm did not have a valid registration with the insurance regulator

DGCA fines SpiceJet Rs 10 lakh for training pilots on faulty simulator

This is the third time that the regulator has imposed a financial penalty on operators for violation of rules after being empowered to do so

Sun Pharma posts Rs 2,277 cr Q4 loss over settlement of pending US lawsuits

Provides for the settlement charges, says adjusted profit for Q4FY22 at Rs 1582 cr, up 18% YoY after excluding exceptional items of Rs 3,935.7 cr and one-time tax gain of Rs 76.4 cr

IPO subscriptions: Process only money-backed ASBA applications, says Sebi

Latest directive follows instances during LIC's IPO where certain applications had to be cancelled as they didn't have sufficient funds in bank accounts

Centre warns of CBI, EoW action against post-dated wheat export LCs

Action against complicit banks also on the anvil

Power ministry earmarks 81 thermal units to move coal to renewable by 2026

The list includes generation units of state-owned NTPC, and privately owned units of Tata Power, Adani Power, CESC, Hindustan Power

Mohalla Tech's valuation may cross $5 billion after raising $300 million

The parent company behind short-video platform Moj and regional social network ShareChat, is in the process of raising about $300 million in fresh funding from Alphabet Inc's Google and Singapore's Te

Skymet says IMD declared Southwest monsoon onset in a hurry; Met denies

The private weather office says IMD overlooked its own parameters to meet forecasts; Met says it will never compromise on standards. Skymet says rains haven't come yet

Jubilant to double injectable capacity in US at a cost of $193 mn

Signs agreement with US biomedical dept

Remitting money? Use lock-in facility to get best forex rate, say experts

Take into account transaction fee, conversion fee, and exchange-rate mark-up when comparing players' costs

Centre to develop framework to check fake reviews on e-commerce websites

Department of Consumer Affairs held meeting with stakeholders including Amazon, Flipkart, Reliance and Tata to discuss issues arising due to fake and deceptive online reviews

Jayaswal Neco case to help bankrupt cos, lenders to resolve debt faster

Lenders may sign out-of-court settlements with other bankrupt companies, ARCs

Street looking beyond Apollo Hospitals' disappointing Q4 performance

Based on sum-of-the-parts valuation, some analysts have pegged their target price between Rs 4,900-5,000

Tata Motors files all-time high of 125 patents across innovations in FY22

The firm has also been granted 56 patents during the same period

Tech funds run into rough weather in CY22, IT firms' stocks do well

Indian IT services sector is expected to benefit from digital transformation, particularly aided by cloud adoption.