LIC becomes most valuable PSU firm; surpasses SBI in market valuation ranking
India Business News: Life Insurance Corporation of India (LIC) surpassed State Bank of India (SBI) to become the country's most valued PSU firm by market valuation. Find out more about LIC's achievement and its impact on the market. Key Points
Times Of IndiaStocks in news: SMS Pharma, Patel Engineering, Vedanta, HG Infra, SJVN
Patel Engineering, in collaboration with its joint venture partner, has been awarded the letter of acceptance (LOA) by the Irrigation & CAD Department, Government of Telangana for a contract valued at Rs 525.36 crore. Key Points
Economic TimesWoman hides heroin with Rs 14 crore in handbag, buttons of dresses and soaps; caught at Hyderabad airport
Over two kilograms of heroin valued at Rs 14.2 crore in the international market was seized from a woman passenger, a national of Republic of Burundi, at the international airport here and she was arrested, Customs officials said on Monday. Key Points
The Tribune IndiaTop 10 Highest valued Currencies In The World: US Dollar, Pound, Euro Don’t Top List! What’s The Value of INR? Check List
Top 10 Highest valued Currencies In The World: Did you know that the US dollar, said to be the most widely traded currency in the world and one that is popularly used as a reserve currency, is not the world’s highest valued currency. In fact, with a single US dollar, you can buy just 0.31 units of the world’s highest valued currency - the Kuwaiti Dinar! In fact, even the Euro doesn’t feature in the top 5 ranks! So which are the top 10 highest valued currencies and what is the Indian rupee’s value viz. the US dollar? The strength of a currency is based on several factors such as economic stability, demand and supply dynamics in the forex markets, inflation rates, policies etc. Let’s take a look: Key Points
Times Of IndiaEV-only Uber rival BluSmart raises $42 million in BP Ventures-led round
Investors include BP Ventures, the investment arm of energy giant BP Plc that holds 20% equity. BluSmart is currently valued at $250 million. Key Points
Financialexpress
Lucknow news: 30 passengers, detained in gold smuggling case, escape from airport
Several passengers escaped from Lucknow airport after being detained for gold smuggling. Customs officials seized cigarettes and cash worth crores. Key Points
mintThese 6 Indian startups are among world's top 100 unicorns
Data shows that while the number of unicorns globally increased to 1,204 in 2022 from 959 in 2021, the cumulative valuation of new unicorns decreased to $556.6 billion in 2022 to $1,159.8 billion in the previous year Key Points
Economic TimesDr. Thomas Isaac owns no property but 20,000 books worth Rs 9.6 lakh: A look at the communist leader's fru
Dr. Thomas Isaac, a former finance minister and four-time MLA, has revealed that he owns only a collection of 20,000 books valued at Rs 9.6 lakh. His other assets include modest savings in various accounts and investments in chit funds and shares. Isaac, accompanied by party members, submitted his nomination papers at the Pathanamthitta collectorate. Key Points
Economic TimesSonia Gandhi's share in Italy house valued at Rs 26 lakh, shows poll affidavit
In her Rajya Sabha election affidavit, Congress leader Sonia Gandhi revealed that her share in an ancestral property in Italy is valued at Rs 26 lakh. Though she declared the property earlier too, its value wasn't mentioned. Key Points
India TodayLionsgate signs $4.6-billion SPAC deal for studio business
(Reuters) -Blank check firm Screaming Eagle Acquisition Corp said on Friday it has agreed to merge with the studio business of entertainment company Lionsgate in a deal valued at about $4.6 billion. Key Points
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AstraZeneca to buy RSV vaccine maker Icosavax for up to $1.1 bln
Drugmaker AstraZeneca (AZN.L) on Tuesday agreed to buy vaccine developer Icosavax (ICVX.O) in a deal valued at up to $1.1 billion to bolster its respiratory syncytial virus (RSV) vaccine portfolio. Key Points
ReutersSafeMoon executives charged in US with fraud related to crypto token
The founder and two top executives at SafeMoon, whose namesake crypto token was once valued at more than $8 billion, have been charged by the U.S. Department of Justice with running a fraud that diverted tens of millions of investor dollars so they could buy luxuries and line their pockets. Key Points
ReutersTexmaco JV co bags Rs 179cr order
Kolkata, Oct 3 (PTI) Texmaco said their JV company with SS Fabricators and Manufacturers bagged an order valued at Rs 179.89 crore from SJVN Arun-3 Power Development Company Limited which is building 900MW run-of-the-river hydropower project presently under development in Nepal. The scope of work encompasses an array of responsibilities, including procurement, fabrication, shop assembly, […] Key Points
ThePrintThe language revolution: How tech tools, audio content, and AI-powered models are shaping our communicatio
The heavy reliance on autocorrect and predictive typing tools like Autocomplete has led to a decline in people's spelling abilities, according to software engineer Sayani Bhattacharjee, podcaster Abbas Momin, and marketer Nona Uppal. Tech companies are now developing language learning models to adapt to this trend. The writing enhancement software market is valued at $351 million globally, with Grammarly being one of the leading tools. Key Points
Economic TimesMEIL secures USD 648 mln contract in Mongolia
Hyderabad (Telangana) [India], September 29 (ANI): Megha Engineering and Infrastructures Limited (MEIL) has secured a Letter of Agreement (LOA) for constructing a crude oil refinery plant in Mongolia. The project, valued at USD 648 million, is the company’s third project in the country. The new project will come up within the country’s first greenfield Mongol […] Key Points
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UK battery startup Nexeon to supply Panasonic with advanced material
UK battery startup Nexeon will supply high-energy silicon anode material to Panasonic’s (6752.T) newest U.S. plant starting in 2025, the companies said on Monday. Key Points
ReutersForeign holdings in Reliance rises from six-year low on spinoff
Foreign ownership in billionaire Mukesh Ambanis company rose to 22.55% in the three-months ended June after dipping to the lowest level since 2017 earlier this year, according to the latest shareholding filed by the firm on Thursday. A recent special session that saw Jio Financial Services Ltd. valued at about $20 billion also helped sentiment in Reliance, which has risen more than 26% from a low in March. Key Points
Economic TimesReliance Retail valued $92-96 billion by company-appointed consultants: Source
Reliance Retail includes Ambani's core retail businesses, including digital and brick-and-mortar stores. Reliance Retail is fully owned by Reliance Retail Ventures, which also houses other retail operations such as international partnerships and the billionaire's consumer goods business. Key Points
Economic TimesIndian stocks to gain only modestly in 2023 despite RBI rate hike pause: Poll
Indian equity strategists have scaled back their year-end outlook as a new bull run in India's already-richly valued stock market is unlikely, according to a Reuters poll. The Sensex and Nifty 50 indexes were expected to gain 3.8% and 4.6%, respectively, from Tuesday's close to end-2023, slightly downgraded from a February poll. Over 70% of analysts believe Indian stocks will trade in a narrow range for the next three months. While an end to the RBI's modest rate-hiking cycle was positive, the high probability of a U.S. recession this year is likely to limit Indian stocks' gains. Key Points
Economic TimesRanveer Singh surpasses Virat Kohli to become India's most valued celebrity of 2022: Report
Actor Ranveer Singh has emerged as India's most valued celebrity of 2022, according to a new celebrity brand valuation report. With a brand value of $181.7 million, Singh has surpassed star cricketer Virat Kohli who occupied the top spot for five years. Key Points
India Today