Morning Khabar se Good Morning!
After a lazy long weekend let’s catch you up with the latest news!
We were off on Friday as many of you may have noticed. To apologize we have added 1 full meme to this edition of MK!
Happy Ganesh Chaturthi to all our readers!
Markets at a glance
Marginal gains were seen ahead of the market closing bell on Thursday.
Media, FMCG and metals were top gainers!
Keep your eyes peeled as Indian and American inflation numbers are set to release on Tuesday. European Industrial Production numbers will also be out this week!
What’s making headlines?
The European Central Bank decided to slow its bond purchasing program as inflation surges, keeping interest rates low and not calling it ‘tapering’ (CNBC)
TCS (NSE: +0.46%) partners with South American airline, Avianca to build cloud-based infrastructure for the company (MC)
Greaves Cotton (NSE: +2.39%) also looking to enter the multi-brand EV segment with its ‘AutoEVmart’ platform (MC)
Reliance’s JioPhone Next in collaboration with Google set to launch before Diwali (CNBC)
Zomato (NSE: +0.21%) to discontinue its E-grocery plans from September 17 (Mint)
Import duty on edible oils to be slashed to stabilise increasing prices (Reuters)
Zydus Cadila’s COVID-19 vaccine is expected to launch in October (Zee)
Where’s the money flowing?
Sansera Engineering IPO will open on Tuesday 14 September as the company looks to raise ₹1,283 Crores at a price band of ₹734-744 (CNBC)
FabIndia set to raise almost $1 Billion with an IPO, in talks with investment banks (MC)
Google and Temasek invest $62 Million in Open, a neobank (Entrackr)
US coding platform Tynker to be acquired by Byju’s (MC)
Amagi, a media-tech company raised $100 Million from existing investors (TC)
Headout raises almost $12 Million in Series B round (Entrackr)
More news?
Market debut on Tuesday for IPOs, Vijaya Diagnostic Centre and Ami Organics
Ford to stop production in India after incurring losses of over $2 Billion over 10 years (Reuters)
Cryptocurrency Solana scales to new heights achieves a $40 Billion market cap (More:Forbes)
MyGate, the popular pandemic app burned through almost ₹80 Crores of cash and laid off almost 120 employees (Entrackr)
Wipro employees set for a phased return to the office from today as fully vaccinated employees to work twice a week from offices (BT)
Bhupendra Patel set to be new Gujarat CM ahead of assembly polls as Vijay Rupani resigns (ET)