Rupee Opens 11 Paise Higher at 81.93 on Weak Dollar PostĀ
The Indian rupee kicked off the trading day positively, strengthening by 11 paise against the US dollar. This upward trend in the local currency occurred despite the relatively hawkish stance expressed by Federal Reserve Chair, Jerome Powell during his testimony to US lawmakers. The rupee commenced trading at 81.93 against the dollar, surpassing the previous…
Monika Gola
Reliance Retail Buys 25.8% Stakes in Dunzo Worth $240 Million
Reliance has picked 25.5% stakes worth $240 million in Dunzo – a Google-backed hyperlocal delivery startup, as the largest Indian retail chain expands to the instant commerce space.Ā Dunzo is a six-year-old startup that operates an eponymous hyperlocal delivery service in seven cities of India including Delhi, Bengaluru, Gurugram, Pune, Chennai, Mumbai, and Hyderabad. Its…
John David
GlobalBees Joins Unicorn Club For its Thrasio-Like House of Brands
GlobalBees has joined the Unicorn club as the New Delhi headquarters firm to scale its Thrasio- like the house of Brands.Ā Prem Invest, the investment firm controlled by Indian tycoon Azim Premji, led the nine-month-old startupās Series B financing round, the young firm disclosed in a regulatory filing. Steadview Capital and existing investors ā SoftBank…