Reliance Retail To Invest $200 Million – Latest news headlines

Reliance Retail has acquired 25.8 per cent stake in online delivery platform Dunzo

Reliance Industries Limited’s (RIL) retail arm has invested $200 million in online delivery platform Dunzo as it looks to get a foothold in the country’s rapidly growing market of quick delivery.

Reliance Retail has acquired a 25.8 per cent stake in Dunzo for $200 million (around Rs 1,488 crore).

Dunzo raised $240 million in its latest funding round that was led by Reliance Retail Ventures Limited.

Existing investors Lightbox, Ligthrock, 3L Capital and Alteria Capital had also participated in the funding round.

“This round is a reinstatement of confidence of existing and new investors in Dunzo’s potential and success in creating an exceptional user experience. The capital will be used to further Dunzo’s vision to be the largest quick commerce business in the country, enabling instant delivery of essentials from a network of micro warehouses while also expanding its B2B business vertical to enable logistics for local merchants in Indian cities,” the two entities said in a statement.

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Latest News Today – Tata Consultancy Services (TCS) To Invest Over $300

At 12:55 pm, TCS shares were trading at Rs 3,201.50, down 0.39 per cent, on the BSE

Tata Consultancy Services (TCS) has announced plans to expand its operations in Arizona in the United States. It will invest more than $300 million over the next five years and hire over 220 people by 2023 “to meet the digital transformation needs of its customers,”  TCS said in a regulatory filing to the stock exchanges. At 12:55 pm, TCS shares were trading at Rs 3,201.50, down 0.39 per cent, on the BSE.

“We are delighted to expand our presence in Arizona, tap local talent to help clients in their transformation journeys, and contribute to the growth of the technology industry here,” Surya Kant, Chairman of North America, TCS, said.

TCS will also expand the reach of its STEM and Computer Science education programs in Arizona by increasing teacher training and online content for students over the next two years. “We also look forward to expanding our community engagement through our STEM initiatives, to help nurture the next generation of local technology leaders in our schools,” Surya Kant, Chairman of North America, TCS added.

TCS is among the top two US recruiters of IT services talent, hiring more than 21,500 employees in the past five years. It has more than 780 employees in Arizona alone catering to clients in the banking, manufacturing, healthcare and utilities domains.

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Latest News Today – Zomato IPO Opens Today. Should You Invest?

Zomato was incorporated in 2008 and is backed by China’s Ant Group

Zomato’s Rs 9,375 crore initial public offering (IPO) opens for subscription today i.e. July 14. The restaurant aggregator and food delivery company’s public issue will remain open for three days, until July 16, and shares will be offered in the price band of Rs 72-76 per share. The Zomato IPO is likely to pave the way for other digital economy companies to take the public route, with the likes of unicorns such as Flipkart, Paytm and Ola waiting in the wings. The shares of Zomato are likely to be listed on the BSE and NSE on July 27.

The food delivery giant’s IPO will consist of a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by the promoter, Info Edge India. Ahead of the IPO, Zomato raised Rs 4,196.51 crore from 186 anchor investors, including New World Fund Inc, American Funds, Tiger Global Investments Fund, BlackRock Global, Lansforsakringar Asienfond, JPMorgan, Morgan Stanley Investment Fund, T Rowe Price and Canada Pension Plan Investment Board.

Retail applicants can bid for a minimum one lot of 195 shares and in multiples thereof, extending up to a maximum of 13 lots. Zomato will utilise the IPO proceeds to fund its organic and inorganic growth initiatives and for general corporate purposes.

Zomato was incorporated in 2008. Backed by China’s Ant Group, Zomato is one of the most prominent startups in the country today and also has a presence in 24 countries overseas.

The Zomato IPO will be the second largest share sale after the Rs 10,355 crore IPO from SBI Cards and Payment Services last year. It will also be the first Indian mega startup to go public.

Bank of America Merrill Lynch, Citigroup Global Markets India, Credit Suisse Securities (India), Kotak Mahindra Capital Company and Morgan Stanley India are the lead managers for Zomato IPO, whereas Link Intime is the registrar of the issue.

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Latest News Today – How To Invest In Cryptocurrency, Traditional Currencies

Leading cryptocurrencies -bitcoin and ethereum suffered hefty losses in the past few months

When compared to fiat currencies, crypto assets have an almost inverse relationship with macro-economic factors such as inflation growth, Mr Sumit Gupta, CEO and Co-Founder of CoinDCX told NDTV. ”Considering the fact that crypto-assets like bitcoin (BTC) are digital tokens that can be exchanged between two parties directly with low transaction fees, their value is currently influenced by the increasing adoption rate and burgeoning transaction volumes,” said Mr Gupta, while discussing the factors that determine the movement of cryptocurrencies. 

The comments from the industry leader come at a time when leading cryptocurrencies such as bitcoin and ethereum have witnessed heavy volatility in the last few months, registering hefty losses after China announced a ban on its financial and payment institutions from providing cryptocurrency services.

As the digital currencies struggle to rebound, investors have again drawn concerns over the volatile nature of crypto assets, compared to the predictable nature of traditional currencies. 

Traditional currencies usually react to the macro-economic developments and foreign exchange interventions taken by central banks. However, Mr Gupta describes that crypto assets remain largely ”unperturbed” by the measures with no control exerted by central banks and continue to derive value based on their utility as a safe, secure, and de-regulated financial token.

”Unlike traditional currencies, their supply is predetermined and limited to a certain maximum threshold which is a huge driver for further price discovery due to the increasing demand,” added the CEO of the country’s largest and safest cryptocurrency exchange. 

Cryptocurrency’s future in India

In developed economies such as the United States, the recent losses suffered by leading cryptocurrencies prompted investors to book profits in stocks and other risk assets, which rallied massively on hopes of an economic recovery.

However, in a country like India, where many people are still not well-versed with investing in risky assets, the future of cryptocurrency in the country may be questioned. ”Indian investors are known to have a long-term approach towards investing and remain committed to promising sectors or asset classes,” claimed Mr Gupta. 

As the government is yet to legalise crypto investing in India, many have concerns over the legal ramifications of investing in cryptocurrencies. ”Concerns related to the taxation policies governing crypto assets once addressed will lead to more clarity and drive further participation from Indian investors in this promising space,” he added. 

Long-term Vs short-term investment approach: What is better for crypto markets? 

Given the volatile nature of crypto markets, first-time investors are often hesitant to play with cryptocurrencies. But the CoinDCX leader recommends new investors to take the plunge and research the crypto asset before taking any fresh positions. ”They should exercise due caution considering the recent volatility in prices and would benefit from adopting a long-term investment approach when it comes to crypto assets,” said Mr Gupta. 

He has a piece of special advice for all those taking a short-term investment approach in crypto markets. ”For traders looking to play short-term movements, it is crucial to enter at important support levels and maintain a strict stop loss in proportion to above levels and their risk appetite.”

”Lastly, when we look at the past performance of major crypto assets, it is evident that investors with a longer investment horizon have benefited from multifold returns,” explained Mr Gupta. 

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Latest News Today – Looking To Invest In Gold Through SIP? Read This

SIP or a Systematic Investment Plan is a facility offered to investors through which they can invest fixed amounts into various funds at regular intervals. This fixed amount does not need to be very high, it can be as low as Rs 500 and the timeline an investor chooses can be on a weekly, monthly, annually, and semi-annually basis, as per their convenience. Gold is a very sought-after investment. Earlier, people would invest their money in gold by buying jewelry or coins. However, now it is possible to buy or invest in gold digitally through Gold Mutual Funds and a Gold Exchange Traded Fund (ETF).

So, if you want to invest your money in gold, these 2 reasons would make it a good choice:

1) Gold is a safe investment, as it’s known as a hedge against inflation. In other words, it’s considered an investment that beats inflation.

2) Even when the market is going through turbulence, gold prices usually don’t fall. Having said that, there could be times when the price of gold does actually fall, but those phases don’t last long.

Now, let’s see how you can buy gold digitally!

There are two ways of buying gold digitally — Gold ETFs and Gold Funds.

Gold ETFs: This is basically buying gold digitally through a demat account that is equivalent to a physical sum of gold.

Gold Funds: In this case, you buy or invest in stocks of companies that mine gold. Gold mutual funds include silver, platinum, and other metals. Gold funds are looked after by a mutual fund manager.

Investing in gold through SIP

In this case, you invest a fixed amount regularly into digital gold. Investing through SIP is a convenient option for people who do not have a demat account, which is required for investing in gold ETFs. A SIP in gold is also more affordable because the investor can deposit a fixed amount every month as per convenience and budget. Investing in gold through SIP will enable you to buy gold and build your wealth in a steady manner.

Advantages of a gold SIP

As an investor would have to shell out a certain amount of money at regular intervals, she/he will be disciplined in her/his approach towards investing.

If a person is planning to opt for a long-term investment, then they can choose gold SIPs instead of investing a lump-sum amount.

Since a gold SIP is a periodic investment, a person doesn’t need to keep track of volatility. Investing a fixed sum of money regularly towards gold at specific intervals would reduce your average cost of purchasing the asset in the long run.

Gold SIP allows a person to invest in small denominations at periodic intervals. All that a person needs to do is instruct the bank to auto-debit a certain amount every month, without having to worry about the hassles of missing out on the investment.

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Latest News Today – FPIs Invest Rs 13,424 Crore In Indian Markets Till June

Foreign investors pumped in Rs 13,424 crore in India till June 2021

Overseas investors pumped in a net Rs 13,424 crore so far in June as risk-on sentiment improved with declining COVID-19 cases and hopes of early opening of economy.

Depositories data showed that foreign portfolio investors (FPIs) invested Rs 15,520 crore in equities during June 1-11.

“The robust net inflows over the last two weeks could be attributed to the improvement in investor sentiments on the back of consistently falling coronavirus cases in the country and hopes of an early opening of the economy,” said Himanshu Srivastava, associate director – manager research, Morningstar India.

At the same time, FPIs withdrew Rs 2,096 crore from the debt segment during the period under review.

The total net inflow stood at Rs 13,424 crore.

This comes following a net withdrawal of Rs 2,666 crore in May and Rs 9,435 crore in April.

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Latest News Today – Looking To Invest In Mutual Funds? Here’s How To Do It

Mutual funds are a relatively straightforward form of investment.

The 20s are when you learn the concept of earning and saving money. Along with that an important concept to learn is that of investing. Though it may sound intimidating, with a basic understanding of financial planning and learning to manage your funds, investing can begin to seem like a good opportunity. Among other options, mutual funds are a smart and good option for millennials to look at as an investment opportunity that will enable them to grow their wealth. Investing in mutual funds can help save money, save tax and most importantly help build a strong financial foundation.

Here are 5 reasons why you should invest in mutual funds whilst still young:

Mutual funds are a relatively straightforward form of investment. They are easy to buy which makes them the perfect choice for young investors to begin their investment journey with.

1) Financial Discipline

Learning to invest at a young age is the perfect time to inculcate the habit of being responsible for your finances. It is a sure shot way to gain maturity and achieve financial goals. To begin the process of investing young, you must first chart out a clear financial plan and goals to stick to. By doing so you can begin inculcating the habit of investing small amounts regularly to their mutual funds. This will help enable financial discipline.

2) Improves Risk Appetite

The more time you have to keep your money invested, the more aggressive you can be in your future investments. At a young age, you have a higher appetite to undertake risks and can afford to be more aggressive with your financial goals. The volatile markets are easier to handle when young, taking risks, making mistakes can be recovered easily as you have the time to grow and learn. If you have a high-risk appetite you can opt for equity funds. Or debt funds for those with a low-risk tolerance.

3) Generate Wealth For Future

Patience is key when it comes to any investments. If you are patient, you will generate stable and good returns. When you begin to invest in top mutual funds at an early age, it gives your investments time to transform into a bigger corpus. Investing in a long-term financial market over short-term markets, as short-term markets swing up and down constantly. Investing in equity mutual funds is a good option to invest in as it gives better returns over a longer time duration. Mutual funds enable you to build wealth over a period of time.

4) Save On Taxes

Every financial gain is taxed apart from regular income. From returns from bank fixed deposits to stocks to mutual funds, it is all taxed. While investing tax-efficiently is not as complicated as it sounds if you plan your investments correctly, taxes should not be your primary reason that drives your investment strategies. Be aware of different taxes levied on different types of investments to potentially improve your after-tax returns.

5) Power Of Compounding

The important mantra to learn here is ‘money will grow if you give it time’. The concept of compounding is simply to earn returns from existing returns. Due to compounding, in time your investments will grow at a relatively faster pace when you begin young rather than when you invest at a later point in life. The earlier you invest the better your mutual fund returns get.

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Company To Invest Rs 50,000 Crore To Set Up Steel Plant | Sidnaz Blog

The pact is for setting up a 12 million tonne integrated steel plant in Kendrapara district

A Memorandum of Understanding (MoU) was signed on Thursday between the Government of Odisha and ArcelorMittal Nippon Steel for setting up a 12 million tonne integrated steel plant in Kendrapara district of Odisha with an investment of Rs 50,000 crores. Odisha Chief Minister Naveen Patnaik and ArcelorMittal Chairperson and CEO Lakshmi Vilas Mittal have signed the deal. Today, Union Minister of Petroleum and Natural Gas Dharmendra Pradhan had said Odisha’s long coastline is going to be the epicentre for the development of India.

“The government-led initiatives in the petroleum and steel sectors will provide impetus to the maritime economy in Odisha. Integration of crucial infrastructures like road, rail and port will lead to the industrial development of the state. Potential for the port-led blue economy will be unlocked with the multi-modal rail, road and air linkages with sea and riverine ports for transport of minerals and goods at much lower logistics cost,” he added.

Similarly, on February 28, 2020, Pradhan had said that Odisha would be made a nerve center in the steel sector. He participated in the workshop on “Enabling procedures for the increase of steel used for the growth of the economy”.

Speaking on the occasion, Pradhan had said he is looking forward to making Odisha, the nerve center of Purvodaya (rise of the east) in steel sector. “Prime Minister Narendra Modi has given a clarion call for Mission Purvodaya, that is Eastern India driving the national growth and propelling India towards becoming a USD 5 trillion economy,” he added.

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Google to Invest $75 Million in Coronavirus-Hit Small | Sidnaz Blog

Google is teaming up with the European Investment Fund (EIF) and two other organisations in Latin America and Asia to provide $75 million (roughly Rs. 545 crore) in funding to small- and medium-sized companies suffering from the impact of COVID-19.

The funds are part of an $800 million (roughly Rs. 5,820 crores) initiative announced in March last year in response to the pandemic.

Google, a unit of Alphabet, said on Wednesday that it would invest in two EIF funds, giving $15 million (roughly Rs. 110 crores) in loan capital to 1,000 European small businesses and $10 million (roughly Rs. 73 crores) in EIF’s venture capital fund backing 200 life sciences companies.

The EIF is part of the European Investment Bank group, the lending arm of the European Union.

In Latin America, Google will work with the Inter-American Development Bank to allocate $8 million (roughly Rs. 58 crores) to small companies.

It has also set up a $26 million (roughly Rs. 190 crores) loan fund with Kiva, an organisation that crowdfunds loans, to help businesses in Africa, the Middle East and Indonesia. Indian companies will get $15 million (roughly Rs. 110 crores).

© Thomson Reuters 2021

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What Is Bitcoin, How to Invest: A Beginner’s Guide to | Sidnaz Blog

Bitcoin is still a confusing idea for many people, but its surging value through the last few months has gotten everyone paying attention again. The value of Bitcoin soared as high as $40,000 (roughly Rs. 29.2 lakhs). However it still remains volatile, and on January 11, we saw Bitcoin sliding 26 percent in its biggest plunge since March 2020. Although Bitcoin can seem like a great investment, it’s important to do your research before you take the plunge. Experienced investors who know what they’re doing won’t need to be told this, but for beginners, it can be quite risky.

It is necessary that you find the right places to make this investment and understand the legal and tax implications regarding investing in Bitcoin, before you start investing. We can’t give you legal advice but here’s what we’ve been able to learn, to get you started in Bitcoin.

How Can I Buy Bitcoins in India?

In India, you can buy Bitcoin from several online exchanges like BuyUCoin, Coinshare, Unocoin etc. Unocoin is an Indian-based exchange. Online exchanges like these will allow you to buy, sell, and hold Bitcoins. You can also do person to person Bitcoin trading using LocalBitcoins — it uses escrow protection to keep the transaction secure.

It is generally better to use an exchange that allows its users to also withdraw their Bitcoins to their own personal wallet for safe keeping — there are exchanges that do not allow for this.
And it goes without saying, but let’s say it anyway — when creating an account on online exchanges, it is important to use safe Internet practices like using two-factor authentication and unique and strong password.

Most Indian exchanges also have a KYC (Know Your Customer) requirement. This process involves verifying your identity using your government-issued ID cards like an address proof, PAN card, and your bank account details.

Once you place an order, you can purchase Bitcoin using digital payment methods. Money from your bank accounts can be transferred using NEFT, RTGS, debit or credit card. One Bitcoin is valued at $35,563 (roughly Rs. 26 lakhs) as of today, but you don’t need to buy a whole coin to start your Bitcoin investment. You can start your Bitcoin investment by chipping in as low as Rs. 500.

Is it legal to buy Bitcoins in India?

In 2018, the RBI barred regulated entities (such as banks) from dealing with Bitcoin. This threw the market into a tailspin. Later in the year, the Supreme Court also backed this decision. However, last year, the SC overturned the ban. While holding Bitcoin was never made illegal, the SC decision means that companies in this space can do business more easily.

Online tax service Cleartax also noted that there are no rules, regulations, or guideline in places for resolving disputes that could arise while dealing with Bitcoins. This amplifies the risk factor while dealing with the cryptocurrency in India. However, it is legal to buy and sell Bitcoin in India.

How do I ensure that my Bitcoin is stored safely?

After buying Bitcoins, you have to ensure that you store it safely. These are typically stored in Bitcoin wallets — which can be offline storage like a USB drive, called cold wallets, but there are also online wallets you can use including, most recently, PayPal, which are called hot wallets.

Even Bitcoin wallets have faced multiple hacks in the past, which is why many people prefer to keep at least part of their investment in a cold wallet.

What are the taxes I should be concerned about if I own Bitcoins?

There is still a lack of clarity on the tax front on Bitcoin investment in India. According to CoinDesk, a digital currency news site, India-based investors may soon have to pay taxes on returns earned from Bitcoin investments.

With the soaring value of Bitcoins, income for selling Bitcoin is taxed at 30 percent tax on cryptocurrency gains for short term investments around 20 percent for long-term investments. However, as long as you don’t sell the Bitcoin, you don’t have to pay money simply because its value went up.

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