Mumbai: Peak XV Partners sold its remaining 7.7% stake in fintech MobiKwik through block deals worth over Rs 130 crore on Tuesday, completely exiting its investment in the firm, said people in the know. The floor price of the deal was set at Rs 214 per share, about 5% discount to the company’s closing price…
New Delhi: Industrial production growth moderated to a five-month low of 4.1% in March on back of the West Asia conflict. The growth was 3.9% a year ago and a little slower than the 5.1% growth registered in Feb.Data released by the National Statistics Office (NSO) Tuesday estimated that manufacturing sector, which accounts for nearly…
New Delhi: Govt has indicated to exporters that Shipping Corporation of India (SCI) may run container ships to West Asia to help them tide over the problem of high freight costs.Responding to complaints over high input and freight costs, commerce and industry minister Piyush Goyal is said to have conveyed SCI’s plan during a meeting…
Bengaluru: Snabbit has raised $56 million as it looks to consolidate its position in India’s fast-growing on-demand home services market. The round was co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments, and Bertelsmann India Investments. The funding values the startup at about $390 million, sources told TOI. Founder and CEO Aayush Agarwal declined to…
Mumbai: The rupee touched a low of 94.57 per dollar on Tuesday, its weakest level since March 30, before closing at 94.54, down 35 paise on the day. The currency’s losses were contained by dollar sales from state-run banks, most likely on behalf of RBI. Meanwhile, sensex settled 0.5% lower at 76,887 while Nifty declined…
New Delhi: India’s mobile app market crossed a major monetisation milestone in the first quarter of 2026, with total revenue surpassing $300 million (around Rs 2,500 crore), marking a 33% year-on-year increase, according to a Sensor Tower report. In Q1 2025, total revenue was roughly $225 million.The market recorded 6.2 billion downloads during the quarter,…
New Delhi: Two days before revision of jet fuel (ATF) prices, the airline industry has sent an “SoS” to the Centre, seeking its “urgent intervention” on fuel pricing.While commercial carriers had won a reprieve last month on ATF (aviation turbine fuel) prices, with the hike in base price for domestic flights capped at 25% and…
Airtel Africa’s initial public offering of its mobile money business could raise between $1.5 billion and $2 billion, according to people familiar with the matter.London is now the most likely location for the listing of Airtel Money, the people said, asking not be identified as the information is still private. An exchange in the UAE…
New Delhi: Maruti Suzuki had a record year in 2025-26 in terms of revenue and sales, but rising costs took a bite out of profits. The automaker posted consolidated revenue of over Rs 1.8 lakh crore, up 19.9% from the previous year, with total sales of 24.2 lakh vehicles. Net profit, however, barely moved –…
New Delhi: The Centre has revived the strategic sale of its stake in IDBI Bank, along with LIC’s stake a month after the two bids were rejected as they were way below the reserve price.Persons familiar with the discussions said a fresh valuation exercise is being undertaken, given that the bank has a small free…