Nykaa, Oyo, Disney+, Paytm, RBI, Tesla, Linkedin India, Vi, etc.

Author

Vaishali Sharma
May 23, 2024

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

Market Briefs

Main Briefs

India Leads Growth in Global Steel Production Amid Declines in Top Nations

  • India's Steel Production Growth: India saw a 3.6% increase in April and an 8.5% increase from January-April 2024.

  • Global Decline: China, Japan, the US, and Russia experienced steel production declines of up to 7%.

  • Global Demand: Overall global steel demand remains weak, affecting production and prices.

  • Domestic Impact: High imports and subdued prices have impacted Indian steel-makers' earnings.

  • Price Trends: Hot-rolled coil prices fell nearly 10% year-on-year but have recently started to rise.

  • Supporting Factors: Lower iron ore and coking coal prices have helped maintain profit margins for steel mills.

Briefs, You Can’t Miss:

  1. Paytm's Q4 loss expands to Rs 550 crore; sees 3% revenue dip.

  2. Nykaa sees 187% rise in Q4 profit, hitting Rs 9 crore.

  3. Ixigo gets green light from Sebi for IPO.

  4. Oyo ditches IPO for private funding at a 70% lower valuation.

  5. Fundraising for Vi likely delayed until new government takes office.

  6. Tata Group to acquire 30% stake in Tata Play from Disney, valuing it at $1 billion.

  7. RBI approves Rs 2.11 lakh crore dividend to Centre for FY24, up 140% YoY.

  8. MCA penalizes LinkedIn India, Satya Nadella, and 8 others for violating companies law.

  9. Disney+ Hotstar upgrades platform to enhance advertisement revenue.

World Briefs

  • Tesla's Europe sales drop to 15-month low.

  • AI advancements fuel $140 billion stock surge for Nvidia.

  • Tesla pushes suppliers to seek production alternatives to China and Taiwan.

  • Major investment: Amazon to inject €15.7 billion into Spain.

  • Linktree surpasses 50M users, broadens social commerce offerings.

  • India's BluSmart tests ride-hailing in Dubai market.

AI Briefs

  • AI startup Hugging Face collaborates with Amazon to use its chips.

  • Microsoft launches innovative tools for AI software creation.

  • AI-upgraded Alexa with paid plans coming from Amazon, says CNBC.

  • Truecaller teams up with Microsoft for AI that mimics your voice on calls.

  • TikTok turns to generative AI to drive ad business expansion.

Company Of The Day

Company Name: Nykaa

Founder: Falguni Nayar

Year Of Foundation: 2012

Headquarter: Mumbai, Maharashtra, India

Industry: Nykaa is an online marketplace for different beauty and wellness products.

Why Is It in the News?
Nykaa's Q4 profit surges 187% YoY to Rs 9 crore.