Akash Joshi and Ankur Pathak ditched their corporate gigs to start IMAST in 2016, right in Indore. They’ve pulled in big names like Raymond and Ashok Leyland, and now IMAST is worth a whopping Rs 100 crore. They’re known for shaking things up in digital transformation and keeping clients happy, and they’re now setting their sights on going global.
Zepto, the speedy quick-commerce company, just upped its valuation to $5 billion thanks to an extra $340 million in funding. That's a huge 40% jump in just two months! This new cash injection, led by General Catalyst and backed by both new and old investors, shows Zepto's impressive growth and focus on ramping up its market presence and operations.
Ukrainian MP Mariana Bezuglaya just dropped a bombshell, saying an F-16 was actually taken down by a US-made Patriot missile system, not Russian forces, during an attack on August 26. She’s pointing fingers at poor coordination within the Ukrainian military as the main issue. Kyiv’s now digging into the situation with a special commission.
Nvidia Corp.'s Q2 earnings report became the main event at US pubs, with bars swapping out their usual sports broadcasts for 'Earnings Watch Parties'. Instead of watching game replays, people were glued to stock tickers and candlestick charts, following Nvidia's financial performance closely. One viral social media post even showed fans totally engrossed in the earnings call.
The markets are on their longest winning streak in four years, with the NSE Nifty50 hitting a new high. This surge is fueled by strong local and institutional investments, even though Wall Street is being cautious. SEBI has pointed out some issues with SME IPOs and market manipulation, which reflect broader market trends. Also, air cargo numbers and Lego sales are looking really good.
Resourceful Automobile’s stock listed flat at its IPO price of Rs 117 on August 29, even though it was massively oversubscribed by 400 times. The Delhi-based company, which runs just two outlets and has a small team, saw bids for 40.76 crore shares compared to the 9.76 lakh available. The stock's initial performance didn’t live up to the grey market hype, where it was trading at an 89% premium.
SpiceJet's flights from Dubai hit another snag on August 29 because of payment issues. Multiple flights had to turn back to India empty since the airline couldn't pay for parking. This is just another chapter in SpiceJet’s ongoing saga of financial troubles and operational problems. They’ve had a rough month with various disruptions, delayed employee wages, and even a recent court ruling that's affected their operations.
Mukesh Ambani just dropped some big news at Reliance’s AGM: they’re building a massive electrolyser manufacturing plant that’ll be up and running by 2026. Plus, he unveiled JioBrain, a new AI-powered initiative to boost efficiency and service at Jio by weaving Generative AI into everything they do.
Reliance Industries' shares went up by 3% after the company said they're considering a 1:1 bonus issue on September 5. The stock reached Rs 3,074.80 on the BSE, marking an 18% increase for the year. This news came right before the company's 47th AGM.
Heavy rains in Gujarat have really messed up a part of the Rajkot-Ahmedabad highway. The downpour caused some serious damage, and there's a video going around on social media showing just how bad it is.