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ECB raises minimum capital requirements for Spanish banks
The European Central Bank has raised the minimum capital requirements for Spanish lenders BBVA (BBVA.MC), Caixabank (CABK.MC), Sabadell (SABE.MC) and Bankinter (BKT.MC) as part of a supervisory review and evaluation process (SREP). Key Points
ReutersCM Nitish Kumar proposes raising quotas for SCs, STs & OBCs in Bihar
Nitish says reservations for OBCs needs to be raised from 50% to 65%. For SCs & STs, which together account for 17% quota, he says limit should be raised to 22%. Key Points
ThePrintIsraeli tech firms raised $1.7 bln in Q3 in sign of stabilisation -report
Israeli high-tech firms raised $1.7 billion in the third quarter, preliminary data showed on Tuesday, in a sign that investment in startups is stabilising. Key Points
ReutersETtech Deals Digest: Zepto cheers with $200 million deal; pulls in over 81% of week’s funding
The rest of the startups -- 17 of them -- raised only $46 million. They were fairly distributed among sectors of ecommerce, software-as-a-service and healthtech. Key Points
Economic TimesParliament should send strong message that country will not accept pro-Khalistani activities: Priyanka Cha
Shiv Sena's Priyanka Chaturvedi raised concerns about growing pro-Khalistani activities abroad, urging robust action in Parliament against threats to India's security. She emphasized diplomatic threats faced in Canada, urging stringent measures and extradition of such terrorists. Other members highlighted diverse issues, including uniform LPG prices, migrant worker welfare, military training for students, and challenges faced by tea garden workers and the handloom sector. Key Points
Economic Times
India asks Australian government to check attacks, vandalism by Khalistanis
The rising incidents of Sikh vandalism against the Indian community in Australia, besides the so-called referendum last Sunday, has been raised with Canberra on a number of occasions in the recent days, ET has learnt. Australian government sources told ET that they are taking the developments seriously and acting on them. Key Points
Economic TimesMoRTH plans to raise Rs 35,000 crore through asset monetisation this fiscal: Official
Infrastructure Investment Trust (InvIT) is an instrument on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time. Elaborating further, the official told PTI that while Rs 15,000 crore is planned to be raised in 2023-24 via project-based financing of high-speed corridors by securitising the future toll revenues without any guidance from the authority, Rs 10,000 is planned to be raised via InvIT. Key Points
Economic TimesAmetek raises profit outlook, buys Paragon Medical in $1.9 bln deal
Ametek (AME.N), which makes electronic instruments, raised its full-year forecast on Tuesday and announced its fifth and sixth acquisitions for 2023 as it expands into different markets and drives earnings growth. Key Points
ReutersBlubirch raises $6 million in funding from Cornerstone Ventures, Capital2B
India Business News: Bengaluru-based startup Blubirch has raised $6.37m in a Series A funding round led by Cornerstone Ventures and Capital2B. The company's software-as-a- Key Points
Times Of IndiaSebi annual report: Indian companies raised Rs 9.8 lakh crore in 2022-23 from capital markets
In its annual report, Sebi said its recovery from erring market participants for the year stood at Rs 6,031 crore, down 61.72 per cent year on year from Rs 15,756 crore. Key Points
Business Today
India Inc raises Rs 8.84 trillion via rupee bonds
This compares with Rs 9.90 trillion IND Inc had raised via bonds in FY21, which was also the highest in the last five years. Key Points
FinancialexpressAquaconnect raises $4 million in pre-Series B
India Business News: Aquaconnect, a full-stack aquaculture platform with embedded fintech capabilities, has raised $4 million in pre-Series B funding round led by S2G Ventures. The company plans to use the capital to scale its operations and expand its coverage in major aquaculture production states in India. Aquaconnect leverages satellite remote sensing and artificial intelligence to improve efficiency in the fish and shrimp farming industry. The funding will also help Aquaconnect double its 'Aqua Partners' network and enhance its product portfolio with farmer-focused innovations and formal credit services. Key Points
Times Of IndiaShriram Finance to issue over 3-yr dollar denominated bonds - bankers
MUMBAI (Reuters) - India's Shriram Finance plans to raise funds through U.S. dollar denominated bonds maturing in three years and three months, two merchant bankers said on Tuesday. The funds raised Key Points
ThePrintHot Stocks: UBS upgrades Infosys & downgrades Wipro; JPMorgan upgrades TCS
TCS has a neutral rating, but UBS raised the target price to Rs 4,050 from Rs 3,700 earlier. HCL Technologies has a neutral rating, but the target price was raised to Rs 1,540 from Rs 1,350 earlier. Key Points
Economic TimesGoldman leads new funding for Fnality blockchain payments firm
Fnality, a blockchain-based wholesale payments firm, said on Tuesday it has raised 77.7 million pounds ($95.09 million) in a second round of funding backed by Goldman Sachs and other blue chip financial firms as it awaits Bank of England approval to start operations. Key Points
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Skyroot raises $27.5 mln, heating up India's private sector space race
India's Skyroot Aerospace said on Monday it has raised $27.5 million in a fresh round of funding led by Singapore's Temasek, upping the ante in the country's burgeoning space industry days after rival Agnikul Cosmos raised a similar amount. Key Points
ReutersAnalysts raise price target on Titan stock
Citigroup's price target is the most optimistic among brokerage firms. It sees a 23% upside potential from the current levels. CLSA also raised its price target after seeing comprehensive growth across Titan's business segments. Key Points
Economic TimesOil heads for third straight weekly loss as economic worries persist
Oil prices held steady in early trading on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. Key Points
ReutersIndia's more than 6,000 women-led startups remain unfunded: Tracxn
India's startup ecosystem faces gender biases with over 6,000 unfunded companies led by female founders. Female-founded startups in India have raised over $23.3 billion, but only 2,300 have received funding. VC funding for female-owned startups decreased by 75% in the past three years. Key Points
mintSP raises ₹14,300 cr via high-yield debt
Cerberus, Davidson Kempner, others buy SP Group’s bonds.The group has made strenuous efforts to monetize assets to reduce its debt by close to $1.4 billion Key Points
mint
Strictly follow protocol for lawmakers, U.P. CS tells officials
MLAs, MPs and other people’s representatives have often raised the issue of officials not giving them due respect. The issue has been raised quite often in the two chambers of the UP legislature. Key Points
Hindustan TimesClimate tech startup Sprih raises $3 million in funding round led by Leo Capital
Sprih raised $3 million for global expansion and aims for 40-50 customers with a revenue target of $6-7 million. Customers include Indigo Paints and Hero MotoCorp. Varaha raised $8.7 million in funding led by RTP Global. Key Points
Economic TimesTop brewer AB InBev hikes dividend, but no new share buyback
Anheuser-Busch InBev raised its annual dividend by 9% on Thursday, though analysts warned investors may be disappointed by the absence of a new share buyback and worse-than-expected U.S. sales. Key Points
Business TodayDeep pockets for EV wars: 5 auto stocks with upside potential of up to 52%
Everyone who was thinking that EV space belongs to startups and old companies that dominate the internal combustion engine (ICE) segment would not make it to EV space, probably would have to go and again read the story of the tortoise and rabbit. A large part of the out-performance that stocks like TVS Motors & Tata Motors have seen in the last 2 years can be attributed to their moving early into the EV space. Let’s go back a couple of years. What dominated the headlines was the XYZ startup focused on EV space has become a unicorn because it has raised $20 million at such and such valuations. Here we need to make a distinction between the total amount raised which will go into the company operation and the valuations. The total amount which is real business is just Rs 150 crore, though the valuation has crossed more than $1 billion. Valuations don't run business, they only get headlines. Key Points
Economic TimesThe power of balance sheet will finally matter in EVs: 7 auto stocks with upside potential of up to 53%
If one looks at reasons for the out-performance of stocks like TVS motors and Tata motors, a large part of it can be attributed to their moving early into EV space. Now let’s go back a couple of years. What dominated the headlines was the XYZ startup focused on EV space has become a unicorn because it has raised US $ 20 million at such and such valuations. Here we need to make a distinction between the total amount raised which will go into operation of the company and the valuations. The total amount which is real business is just Rs 150 crore, though the valuation has crossed more than a US $ one billion dollar. Valuations don't run business, they only get headlines. It is cash which a company will be able to pour into EV business and price wars which are bound to take place in the long term which will decide the final winner. Key Points
Economic Times
India gets 2nd unicorn of 2023 as InCred raises ₹500 crore
InCred unicorn: The feat came after it raised $60 million at a valuation of 1.04 billion dollars. Key Points
Hindustan TimesPunjab MP in RS seeks release of Sikh prisoners
Rajya Sabha MP Vikramjit Singh Sahney has raised concerns about the release of Sikh prisoners in Punjab militancy cases, citing serious physical and mental health issues. Sahney argued that justice delayed is denied and calls for uniform national policy governing both the Centre and state governments. Key Points
Economic TimesElectric bicycle-maker EMotorad bags Rs 164 crore in funding
EMotorad will use the funds to build a 150,000 square feet manufacturing facility, said its chief executive Kunal Gupta. The facility will be used to develop and manufacture in-house battery systems, motors, displays and chargers. Key Points
Economic TimesDatadog tops quarterly estimates on robust bookings, raises annual forecast
Datadog (DDOG.O) on Tuesday topped estimates for third-quarter results and raised its forecast for annual adjusted profit and revenue, driven by demand from customers seeking better security solutions due to increasing cybersecurity threats. Key Points
ReutersMan arrested for sexually abusing dog, throwing her from 3rd floor
The man was on the balcony of his residence with the dog, committing the crime. A neighbour noticed the incident and immediately raised alarm. Key Points
Hindustan Times
States' borrowing cost soars to 23-week high of 7.56%
The borrowing cost for Indian states has increased by 10 basis points to 7.56% at the first weekly debt auction of the third quarter. This is the highest rate in the past 23 weeks. Despite a decline in the average tenor to 13 years, the weighted average cost has risen. Additionally, the spread between the cut-off of 10-year state bonds and the new 10-year G-Secs yield has also increased slightly. Key Points
Economic TimesDelhi church vandalised by mob during prayer, slogans raised, 1 arrested
A mob barged into a church in Delhi during Sunday prayers and vandalised it. The mob, allegedly belonging to a Hindu organization, also raised slogans inside the prayer hall. Key Points
India TodayIndia's Waaree Energies raises about $121 mln funding
India's Waaree Energies on Monday said it has raised about 10 billion rupees ($120.88 million) in a second round of funding led by Mumbai-based investment firm ValueQuest, which will be used by the solar panel manufacturer to expand capacity by 6 gigawatts (GW). Key Points
ReutersCoreWeave raises $2.3 billion in debt collateralized by Nvidia chips
Specialized cloud provider CoreWeave has raised $2.3 billion in a debt facility led by Magnetar Capital and Blackstone (BX.N) and collateralized by Nvidia chips, with the funds to be used to expand to meet rising AI workload, the company said on Thursday. Key Points
ReutersSBI board approves raising up to $2 billion via long-term debt
It was SBI's third Tier-1 bond issuance in the previous financial year. The tenor of these bonds is perpetual, with a call option after 10 years and every anniversary thereafter. Key Points
Economic Times
Bitcoin breaks above $30,000 as investors eye end of rate rises
Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Key Points
The HinduAxis Bank sees final rate hike in April
The RBI has raised its benchmark repo rate cumulatively by 250 basis points to 6.50% since the beginning of the rate hike cycle in May 2022. Key Points
FinancialexpressCentre raises interest rates on most small saving schemes, except PPF, for June quarter
The rate paid on 5-year recurring deposits is being raised from 5.8% to 6.2%, the Senior Citizen Savings Scheme has been hiked to 8.2% from 8%, while the monthly income account scheme will now deliver 7.4% returns instead of 7.1%. Key Points
The HinduGovt. hikes interest rates on most small saving schemes for June quarter, barring PPF
The rate paid on 5-year recurring deposits is being raised from 5.8% to 6.2%, the Senior Citizen Savings Scheme has been hiked to 8.2% from 8%, while the monthly income account scheme will now deliver 7.4% returns instead of 7.1%. Key Points
The HinduTaiwan central bank unexpectedly raises rates, cuts GDP forecast
International Business News: Taiwan's central bank surprised the market by raising benchmark discount rates from 1.75% to 1.875%, with the move primarily motivated by inflation co Key Points
Times Of India
India sets up panel to probe US' allegations of involvement in plot to kill Khalistani leader Pannun
The Indian government has formed a high-level inquiry committee to investigate security concerns raised by the United States regarding a foiled plot to kill a Sikh separatist. The U.S. had raised the issue with the Indian government at the senior-most levels. The findings of the probe will guide necessary follow-up actions, India said. Key Points
Economic TimesSPAC returns remaining $533 mln raise for Trump social media deal
Digital World Acquisition Corp (DWAC), the blank-check acquisition company that plans to merge with former U.S. President Donald Trump's social media firm, said on Thursday it would return to investors $533 million raised for a cash infusion in the deal, after some already backtracked on another $467 million of commitments. Key Points
Reuters