Thu, Feb 1, 2024 1:44 PM
Fertiliser stocks jump as FM Sitharaman announces expansion!
A Flip by Avya Verma
Indonesia's automotive industry association Gaikindo has slashed its 2024 sales forecast by 15% to 850,000 units due to declining wholesale deliveries, with high interest rates hindering consumer spending. Indonesia's government is seeking to attract foreign investment in the sector and may reintroduce tax incentives for electric vehicle purchases to stimulate the market.
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Veefin Solutions, a supply chain fintech startup, acquires a 50% stake in Singapore-based AI startup Walnut for $2 million, gaining access to Walnut's client roster and additional revenue. This is Veefin's fourth acquisition in five months, part of its strategy to become the Global No. 1 Working Capital Finance Platform.
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The primary market in India is abuzz with the much anticipated IPO of Swiggy Ltd to be launched on November 6. Many of India’s biggest IPOs, including Hyundai Motor India, Paytm and Reliance Power have resulted in losses for investors. Only a few large IPOs — such as Coal India, Zomato, and HDFC Life Insurance — have generated positive returns, with their shares trading above the issue price.
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