Snapdeal is in discussions for a $100-million infusion from new and existing investors in what would be its first major fund-raiser since 2016, The Times of India reported.The Kunal Bahl and Rohit Bansal-led start-up is looking to be valued around $800 million to $1.2 billion. Bank of America Merrill Lynch is its domestic and global advisor, TOI quoted sources as saying.The e-tailer company has informed potential investors that Japan-based SoftBank has committed to a half of the round, the paper added.Close Moneycontrol could not independently verify the report. related news Delhi's air quality plunges to 'severe' category Green shoots? Steel companies increase prices first time in nearly six months Maharashtra government formation: Senior Congress leaders defer Mumbai visit The company last raised capital in February 2016 and was valued at around $6.5 billion. After its potential acquisition by Flipkart in 2017 fell through, co-founders Bahl and Bansal bought back 10 … [Read more...] about Snapdeal looking at $1.2 bn valuation with fresh funding of $100 mn: Report
Losing 100 pounds
Shabbir KayyumiThe Nifty is trading higher above all popular moving averages (20/50/100/200 DMA), indicating a strong bullish bias. But the emergence of a bearish engulfing pattern near the top does not augur well for the bulls. For commencing a new leg, it has to cross and sustain above 12,000 levels, whereas support will remain towards the line of parity near 11,700 levels.The majority of the oscillators are in overbought zone and also hinting of retracement towards 20 DMA placed around 11,700 levels.Close For the medium-term, the recent formation of Golden Crossover of 50 and 200 DMA indicates strong price action in favour of bulls. On the upside, a sustained move above 12,000 will push the index higher towards previous highs, starting around 12,100 and can extend towards 12,400.Shabbir KayyumiHead of Technical & Derivative Research|Narnolia Financial Advisors 'Double-Bottom pattern in JSW Steel suggests buying opportunity'Bank Nifty may move towards 31,000; buy these 3 … [Read more...] about Nifty may rally to 12,400 levels if it sustains above 12K; Hindalco among top 3 buy ideas
Early on November 12, a head-on collision in Bangladesh killed at least 14 people while it was suspected that there could be more casualties. The accident has injured over 40 people as well.According to Brahmanbaria District Administrator Hayat Ud Dowlah Khan, rescue workers has been trying to reach passengers who are trapped inside. Khan told Reuters that the accident had left two train compartments mangled.Khan confirmed that rescue workers had recovered 14 bodies. However, he added that there was a possibility that the death toll might go up further.Close The accident took place when a train heading for the port city of Chittagong collided with a train bound for the capital Dhaka at 3 a.m. (2100 GMT) in Brahmanbaria, about 100 km (60 miles) east of Dhaka. related news Chopper crashes in Nepal; Japanese among 6 killed, woman survives To clear Rajya Sabha hurdle, govt mulls opposition outreach on Wednesday for new Motor Vehicles Bill Tata JLR fined … [Read more...] about Train accident in Bangladesh kills 14; head-on collision injures over 40
The government's decision to hike import duties on 19 items is mainly aimed at containing a widening current account deficit (CAD) and arresting the rupee slide, and should not be seen as a revenue generating measure, a top Finance Ministry official said on September 27.While the total value of imports of these 19 items in the year 2017-18 was about Rs 86,000 crore, the government will garner around Rs 3,000 crore, led by higher customs duty, the official said.The Finance Ministry on September 26 announced import curbs on high-end consumer items including washing machines, air conditioner, footwear, diamonds, jet fuel as a part of its plan to get foreign funds flowing back to India and to reduce current account deficit (CAD) as it seeks to stabilise the domestic currency.Close “When we did the exercise of looking at how many items are essential and how many are non-essential, we also looked at whether the capacity in India is available for that item...We have to look at every … [Read more...] about Import duty hikes aimed at containing CAD, not on earning extra revenues: FinMin official
Oil marketing firms on government mandate have subsidised petrol and diesel by Re 1/litre, which could them approximately Rs 4,500 crores in 2018-19. The move has made investors nervous about the companies' vulnerability to bigger hits in the run up to the 2019 general elections, causing sell-off of about 24-32 percent stocks until now.Top brokerages have downgraded oil marketing companies (OMCs) post the government announcement and have reduced their target price by 30 to 50 percent. Estimates suggest that the Re 1 cut will force IOC to take a 19 percent knock on annual profit after tax, for BPCL and HPCL the impact on bottomline would be 26 percent and 27 percent, respectively. Major concern remain as global oil prices are expected to rise as US sanctions choke supply from Iran. Many analysts believe crude prices can soar to $100 per barrel causing further rise in petrol and diesel prices.The price cut by the government has put a … [Read more...] about 3-Point Analysis | OMCs crash to 52-week low, should you buy into this correction?