EdTech Giant UpGrad: A Closer Look at FY23’s Impressive Revenue Surge
UpGrad’s revenue surged by 96% to Rs 1,194 crore in FY23, up from Rs 608 crore in FY22. This significant growth is attributed to the company’s diverse online programs and commissions from universities, which are the primary sources of its revenue.
The Retail Giant’s New Strategy: Walmart Increases Imports from India
Walmart’s imports from China decreased from 80% in 2018 to 60% between January and August 2023. Conversely, imports from India, which were just 2% in 2018, rose to 25% during the same period in 2023.
BCCI’s Legal Play: Seeking 160 Crore from Byju’s in Sponsorship Row
This move by BCCI aims to recover dues amounting to approximately Rs 160 crore, which have reportedly been outstanding since the expiry of their sponsorship contract. This contract, initially established in 2019, involved Byju’s as the official jersey sponsor of the Indian cricket team, following the departure of the previous sponsor, OPPO.
A Tech Hub Rises: Booking Holdings Invests $250 Million in Bengaluru Centre of Excellence
This new center represents a $250 million investment over five years and aims to create 1,000 jobs in Bengaluru by the end of 2026. The CoE in Bengaluru will serve as a hub for specialized and highly skilled technology talent, supporting the company’s growth and its vision for the future of travel.
Playing to Win: The Lucrative Rise of Esports in India
Gaming in India is now widespread beyond metropolitan areas, engaging a wide demographic. Approximately 75% of GenZ and 67% of Millennials, as well as 58% of women, are identified as serious gamers.
Market Manipulation Leads to SEBI Banning 9 Firms for Two Years
The probe, which covered the period from April 2018 to September 2019, revealed that they collected fees from 4,536 clients, amounting to Rs 810.24 lakh, through six partnership firms that were not registered with SEBI.
India’s Retail Boom: Shopping Malls to Grow by 35%
The sector is expected to attract investments upwards of Rs 20,000 crore in the coming years. This capital influx is primarily driven by the resumption of previously stalled projects and the robust operating performance of existing malls.
Charging Up India: Tesla and Fisker’s Big Bet on the Indian EV Market
The entry of Tesla and Fisker into the Indian electric vehicle (EV) market is a significant development, highlighting the growing global interest in India’s burgeoning EV industry.
Balancing Act: The 16th Finance Commission and India’s Tax Devolution
The terms of reference (ToR) for the 16th Finance Commission have been approved by the Union Cabinet, chaired by Prime Minister Narendra Modi. The Commission will review the devolution of taxes between the Centre and states for the five-year period from April 1, 2026, to March 31, 2031. Its report is expected to be submitted by October 31, 2025.
Navigating the Future: Mobikwik’s Path to an $84 Million IPO
The Gurugram-based company, known for its mobile wallet and buy now, pay later services, is targeting to raise approximately $84 million through this IPO, which is slated for 2024.