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The Economic Times

Cryptocurrency Prices on September 11: Bitcoin falls below $56,800 ahead of US inflation data

Cryptocurrency prices declined on Wednesday, with Bitcoin, Ethereum, and Solana leading the drop, as investors awaited the U.S. consumer price index report. The data could influence future Federal Reserve policy moves, adding to current market volatility.

Business Standard

InMobi raises $100 mn debt financing from MARS Growth Capital: CEO Tewari

Softbank-backed consumer technology company InMobi on Wednesday said it has raised USD 100 million debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group. InMobi has plans to list in India and has started the necessary process. The company plans to use the funds for the development and deployment of InMobi's artificial intelligence (AI) technology and for potential AI-focused acquisitions. "We are pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory," Naveen Tewari, CEO of InMobi said. He said AI is the bedrock of both InMobi's consumer and enterprise businesses. "We are using it to power the revolutionary lock screen experiences and InMobi Advertising's platforms. We are reimagining how ads can be made truly native by driving superior engagement and outcomes for consumers, advertisers and publishers," Tewari said. MARS Growth Capital invests in future-ready AI platforms in Asia Pacific

The Economic Times

These 8 consumer discretionary stocks hit a 52-week high and rallied up to 30% in a month

The Sensex rose 231 points to 82,365 on Friday. Notably, 11 stocks in the BSE Consumer Discretionary index reached 52-week highs, offering traders and investors valuable insights into current values and future price trends.

The Economic Times

RBI recognises FACE as self-regulatory organisation in FinTech sector

The Reserve Bank of India has designated the Fintech Association for Consumer Empowerment (FACE) as a Self-Regulatory Organisation in the FinTech Sector. The RBI received three applications, including FACE, for this recognition, and one application has been returned for resubmission. The governor indicated that more such organisations could be approved in the future.

The Economic Times

FMCG maker Emami's net profit grows 36% in Q1 despite challenges in Bangladesh

Emami Ltd chief executive NH Bhansali shared that the company faced challenges in Bangladesh due to geopolitical tensions but remains optimistic for future stability. Founder R.S. Goenka noted growth in international markets despite currency depreciation. Emami adapted to subdued rural market demand by expanding its consumer base and increasing revenue from non-seasonal brands. The company reported a 36.4% increase in net profit in the first quarter of June 2024.

Business Standard

Jeyyam Global Foods' IPO to be out on Sept 2, seeks to raise Rs 80-82 cr

Jeyyam Global Foods Ltd, manufacturers and involved in processing and supply of Bengal gram (Channa), fried gram, would come out with their Initial Public Offering on September 2 as it plans to raise Rs 80-Rs 82 crore to fuel its expansion plans, an official said on Saturday. The city-headquartered company would utilise the funds to be raised for its foray into business to consumer (B2C) segments, capital expenditure besides, widening product portfolio, Shrreyans Mehta, a member of the Group said here. "We have identified 99 clusters across India to procure the fried gram, polished channa and we will be doing the cleaning and grading at the place of procurement..We will also be launching soya chunks and vermicelli," he told reporters on their future plans. From the funds to be raised, he said, the company would set up three manufacturing units, one each in Latur, and Nanded in Maharashtra and the third facility at Indore, Madhya Pradesh. "We will be scaling up the production of fr

Business Standard

India to overtake Japan to become 3rd largest global market: Sony MD

Japanese consumer electronics giant Sony expects India to overtake home market and become the company's third largest market globally in the next couple of years with its revenue from the country reaching Rs 10,000 crore. Sony India Managing Director Sunil Nayyar said the company clocked a revenue of Rs 6,353 crore in 2022-23 in the country and is betting on the premium television segment besides its audio and imaging products to drive the growth. According to him, Sony India is also betting big on the fast growth of the gaming segment and imaging business. "We have travelled a long way. If I go 10 years back, we were quite behind the globe, but now, we are a close number four as a single country business across the globe, which means in a couple of years, maybe we can be number three and to remain in the top three in future I think should be a good position to stay as a Sony company around the globe," Nayyar told PTI in an interview. At present, the US, China and Japan are the top