Adani-Paytm, JioMart, BharatX, Razorpay, Fortis, Volkswagen, J&J, etc.

Author

Vaishali Sharma
May 30, 2024

From Startups to Giants: Covering All of India's Business in Less than 5 Minutes

Market Briefs

Main Briefs

Market Shakeup: Adani Group Considers Stake in Paytm Parent One97

pc: Telegraph India

  • Adani's Interest: Gautam Adani is reportedly considering acquiring a stake in One97 Communications, Paytm's parent company.

  • CEO Meeting: Paytm CEO Vijay Shekhar Sharma met Adani in Ahmedabad to discuss the deal.

  • Denial: Paytm denied any such discussions in an official filing.

  • Market Reaction: Shares of One97 Communications rose 5% following the news.

  • Strategic Move: If successful, this deal would signify Adani's entry into the fintech sector.

  • Investor Engagement: Adani is reportedly engaging with West Asian funds for investment in One97.

  • Ownership Stakes: Sharma holds approximately 19% of One97, valued at Rs 4,218 crore.

  • Regulatory Challenges: Paytm faced a ban on certain banking activities by RBI, impacting its financial performance.

  • Financial Performance: One97 reported increased losses and a slight revenue decline in the latest quarter.

  • Future Actions: Paytm plans job cuts and asset trimming in response to its financial situation.

Reliance's JioMart Set to Disrupt Quick Commerce, Targets Blinkit and Zepto

  • Reliance Industries to enter India's quick commerce space via JioMart.

  • JioMart to offer 30-minute grocery deliveries in 7-8 cities, expanding to over 1,000 cities.

  • Previous 90-minute delivery service, JioMart Express, was shut down a year ago.

  • Blinkit currently dominates the quick commerce sector with a 40-45% market share.

  • Walmart's Flipkart is also preparing to enter the quick commerce market.

  • JioMart will use Reliance Retail's extensive network of stores for operations.

  • India's online grocery market is valued at $11 billion, with quick commerce accounting for $5 billion.

Briefs, You Can’t Miss:

  1. Introducing Q-Zap by Razorpay: The Future of Quick Offline Payments.

  2. BharatX Expands Horizons: Acquires Zenifi for Healthcare Finance.

  3. $100M Funding Round May Propel Bluestone to $1 Billion Valuation.

  4. FarMart Attracts Rs 24 Crore Investment for Agritech Expansion.

  5. India Sees Record Silver Imports in First 4 Months of 2024.

  6. India Welcomes New Brewers Association, Supported by Leading Beer Companies.

  7. Fortis Announces Rs 1,300 Crore Expansion of Existing Hospitals.

World Briefs

  • Historic Move: Samsung Electronics Union to Strike for First Time.

  • Elon Musk’s Starlink Resumes Service After Brief Downtime.

  • Volkswagen Announces Cost-Effective Battery Model for European Market.

  • Johnson & Johnson Acquires Innovative Skin Disorder Drug for $1.25B.

  • BYD Launches Hybrid Vehicle Tech with 100 km Range on 2.9 Litres of Fuel.

  • Tumblr Debuts Semi-Private Communities Feature in Open Beta.

AI Briefs

  • OpenAI Begins Developing Next-Gen Flagship AI Model.

  • New AI-Driven Positions Highlight Salesforce’s Hiring Spree.

  • OpenAI Partners with PwC, Signs 100K Workers to ChatGPT Enterprise.

  • Anthropic Welcomes Former OpenAI Safety Lead to Helm New Team.

  • Chromebook Boosted with AI-Powered Features by Google.

Company Of The Day

Company Name: Razorpay

Founder: Harshil Mathur, Shashank Kumar

Year Of Foundation: Dec 2014

Headquarter: Bangalore, Karnataka, India

Industry: Razorpay is a platform that enables businesses to accept, process, and disburse payments.

Why Is It in the News?

New product launched by Razorpay, “Q-Zap”: Enhancing Offline Billing Efficiency.