In a surprising development, Sachin Bansal, the founder of e-commerce giant Flipkart, is reportedly looking to sell his stake in Bhavish Aggarwal’s ride-hailing company, Ola. According to a report by the Economic Times, Bansal has initiated discussions to offload his shares in the company, signaling a potential shift in his investment strategy. Bansal, who is known for his strategic investments in various tech ventures, joined Ola’s shareholder list in the past, alongside other notable investors. The decision to divest from the company could have significant implications, given Ola’s ambitious plans…
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Rupee Steady at 85.79 Against U.S. Dollar in Early Trade
The Indian rupee remained stable at 85.79 against the U.S. dollar in early trading on January 6 as currency markets showed little movement despite global economic uncertainties. The rupee opened flat in the session, holding steady after fluctuations in the previous week. Experts attributed the stability to a balance between dollar demand from importers and foreign fund inflows. The Indian currency has been under pressure in recent months due to rising oil prices and global interest rate hikes, but the Reserve Bank of India’s (RBI) intervention is believed to be…
Read MoreMarkets Trim Early Gains as Foreign Fund Outflows and Earnings Season Caution Weigh
Indian equity markets gave up early gains on January 6, reflecting investor caution driven by persistent foreign fund outflows and apprehensions ahead of the upcoming earnings season. After opening in positive territory, key indices such as the BSE Sensex and NSE Nifty witnessed a reversal, with selling pressure emerging across sectors. Analysts attributed the volatility to concerns over global economic conditions and the impact of rising interest rates on corporate profitability. Foreign institutional investors (FIIs) continued their selling spree, pulling funds out of Indian equities in favor of safer assets…
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