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Sensex closes 587 pts lower, Nifty at 15,752; HDFC group stocks top drags

Market Closing: Benchmark Indian equity indices were down over 1% on Monday. The volatility index, or VIX, closed 8.32% higher.Premium
Market Closing: Benchmark Indian equity indices were down over 1% on Monday. The volatility index, or VIX, closed 8.32% higher.

  • Market closing: The Sensex closed at 52,553.40, down 586.66 points or 1.10%, while the Nifty was at 15,752.40, down 171.00 points or 1.07%. The HDFC twins weighed down on the indices, with HDFC Life also trading lower post Q1 results. Pharma, realty were outliers.

Sensex, Nifty closed over 1% lower on Monday. The Sensex lost 700 points at its lowest during the day. The Securities Appellate Tribunal decided to reserve its order on PNB Housing's referential issue, while the Supreme Court reserved its order on AGR dues, a case with a direct bearing on Vodafone Idea and Bharti Airtel. All eyes will be on ACC and HCL Tech's Q1 results due later today. Asian markets were lower today, while Dow Futures shed over 300 points amid concerns raised by covid cases found at the Tokyo Olympic village.

19 Jul 2021, 03:59:46 PM IST

Gold tumbles by ₹126; silver slips to ₹66,856

Gold in the national capital on Monday dipped 126 to 46,967 per 10 gm in line with a fall in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at 47,093 per 10 gm. Silver also went lower by 97 to 66,856 per kg from 66,953 per kg in the previous trade. In the global market, gold was trading lower at $1,805 per ounce and silver was flat at $25.39 per ounce

19 Jul 2021, 03:58:15 PM IST

Rupee tumbles 31 paise to close at 74.88 (provisional) against US dollar

19 Jul 2021, 03:47:47 PM IST

Market closing

The Sensex closed at 52,553.40, down 586.66 points or 1.10%, while the Nifty was at 15,752.40, down 171.00 points or 1.07%. The HDFC twins weighed down on the indices, with HDFC Life also trading lower post Q1 results. Pharma, realty were outliers. The volatility index, or VIX, closed 8.32% higher on Monday. On the 30-share Sensex, NTPC, Nestlé India, Dr Reddy's, Sun Pharma, and UltraTech closed in green, while the HDFC twins, IndusInd Bank, Axis Bank, and 21 other stocks closed in red.

Sensex at close
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Sensex at close
19 Jul 2021, 03:29:28 PM IST

HDFC Life trades lower

HDFC Life Insurance Co reported consolidated net profit of 3.02 billion compared to 4.51 billion a year ago. The insurer’s Q1 net investment income fell 20% year-on-year to 69.6 billion. The company’s st5ock was trading at 679.00 each down 2.72% at 3:28 pm.

19 Jul 2021, 03:29:28 PM IST

Suryoday SFB gains

Suryoday SFB reported provisional total deposits as at 30 June of 33.17 billion compared to 28.69 billion a year ago. The provisional gross advances as at 30 June were at 40.82 billion compared to 35.34 billion a year ago. The June total collection efficiency was at 70.1% compared 67.5% in May. The company's stock was trading at 216.00 each up 2.49% at 3:24 pm.

19 Jul 2021, 03:18:37 PM IST

Govt's excise collections on petrol, diesel jumps 88% to ₹3.35 lakh cr

The Union government's tax collections on petrol and diesel jumped by 88% to 3.35 lakh crore in the year to 31 March, after excise duty was raised to a record high, the Lok Sabha was informed on Monday. Excise duty on petrol was hiked from 19.98 per litre to 32.9 last year to recoup gain arising from international oil prices plunging to multi-year low as pandemic gulped demand.

The same on diesel was raised to 31.8 from 15.83 a litre, according to a written reply to a question given by the minister of state for Petroleum and Natural Gas Rameswar Teli in the Lok Sabha.

19 Jul 2021, 03:15:24 PM IST

SC reserves order of revision of Voda Idea, Airtel AGR dues

19 Jul 2021, 03:15:25 PM IST

TVS Motor Co to invest ₹1,000 cr in EVs

TVS Motor Co. plans to invest 1,000 crore to manufacture electric vehicles. Sudarshan Venu, the company’s joint Managing Director, said that the proposed EVs will fall under an independent vertical. TVS Motor is working on its 5-25kW two- and three-wheelers portfolio, and plans to launch them by 2023.

19 Jul 2021, 03:13:08 PM IST

Bharti Airtel trades lower

The telco's stock was trading at 540.50 apiece, down 0.09% at 3:11 pm. The Supreme Court observed that it has reiterated several times how AGR dues cannot be recalculated.

19 Jul 2021, 03:10:19 PM IST

Vodafone Idea trades lower on AGR hearing

The telco's stock was at 9.22 apiece, down 2.43% at 3:08 pm. The DoT counsel has requested the Supreme Court for two days to determine if any guidance on possibility of revision of AGR dues amount.

19 Jul 2021, 03:07:49 PM IST

FATF review of India's anti-money laundering, terror financing regime postponed again to 2022

An evaluation by global organisation Financial Action Task Force (FATF) to analyse the effectiveness of India's anti-money laundering and countering terrorist financing regime has been postponed for the second time in view of the ongoing COVID-19 pandemic and is now slated to be initiated next year, officials said. (Read here)

19 Jul 2021, 02:40:17 PM IST

AGR dues case: Thrice said that amount can't be recalculated, SC observes

19 Jul 2021, 02:36:57 PM IST

Indian Bank gains on Q1 result

Indian Bank's stock was at 139.70 apiece, up 1.12%, at 2:30 pm. The bank reported Q1 standalone net profit of 11.8 billion compared to 3.69 a year ago and 17.09 billion in the previous quarter. The state-owned lender’s gross NPAs stood at 9.7% compared to 9.85% in the previous quarter. Net NPAs were at 3.47% compared to 3.37% in the previous quarter.

19 Jul 2021, 02:25:41 PM IST

Record steel prices inject life into long-suffering industry

There’s rarely been a better time to be in the steel business. Prices have boomed worldwide this year, smashing record after record. Roaring industrial demand is propelling those rallies, with plants straining to boost supply after lying dormant during the pandemic. On top of that, powerhouses China and Russia are trying to limit exports to help other industries at home... The optimism is a far cry from the past decade, when Western makers closed plants and shed workers as low demand had their mills operating below capacity. Last year alone, 72 blast furnaces were idled, according to UBS Group AG. This year, US\ President Joe Biden wants to spend on infrastructure, and the European Union wants to spend on reaching net-zero emissions. Manufacturers such as Nucor Corp., U.S. Steel Corp. and SSAB AB are among those set to become profit machines. ArcelorMittal SA, the world’s biggest outside of China, will earn more than McDonald’s Corp. or PepsiCo Inc., according to analysts’ estimates. (Bloomberg)

19 Jul 2021, 02:25:41 PM IST

Used car retailing startup Spinny raises $108 mn led by Tiger Global

Used car retailing startup, Spinny on Monday said that it has raised $108 million, in primary and secondary fund infusion, as a part of its Series D round led by New York-based Tiger Global Management. New investor Avenir Growth also participated in the round, along with existing investors including, General Catalyst and others. The latest round includes a primary capital infusion of $105 million and a secondary share sale worth $3 million, by select angels and early-stage investors. It comes barely three months after the startup had raised $65 million as a part of its Series C round led by General Catalyst.

19 Jul 2021, 02:17:27 PM IST

Toyota pulls olympics tv ads, CEO to skip opening ceremony

Toyota Motor Corp. won’t air television advertisements in Japan during the Olympics and its president won’t attend the opening ceremony as concerns about holding the Games amid the pandemic mount just days before they’re due to get underway. The decision by Toyota, which remains a global sponsor of the event, comes after US tennis star Coco Gauff withdrew because she contracted covid-19 and as two South African footballers tested positive at the athletes’ village. (Bloomberg)

19 Jul 2021, 02:17:27 PM IST

Zomato CEO Deepinder Goyal joins Magicpin Board as independent director

Online business discovery and rewards platform Magicpin on Monday said Zomato co-founder and Chief Executive Officer Deepinder Goyal has joined its board as an independent director. Goyal joins the existing board and advisors that consist of Bejul Somaia (Managing Director of Lightspeed Venture Partners), Vivek Gambhir (CEO of Boat Lifestyle), and Manish Kheterpal (Managing Director at Waterbridge), a statement said. (PTI)

19 Jul 2021, 02:07:16 PM IST

No ED probe into Adani group: MoS finance tells parliament

  • Sebi probing some Adani group cos for compliance
  • DRI investigating certain Adani group cos under laws formulated by it
  • FPI holding in Adani group cos dynamic

19 Jul 2021, 02:01:19 PM IST

Retail sales down 50% in June: Retailers Association of India

Despite unlocking in various parts of the country after the severe second wave of covid-19 infections, retail sales across India were down 50% in June'21 compared to june’19, Retailers Assocation of India (RAI) said in its monthly retail business round up released Monday. “Retail businesses continue to be stressed and are finding it difficult to sustain due to restricted timing of operations and weekend closures," Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said in a statement. Retail sales were down nearly 80% in the month of May as the second covid wave surged across the country. The lifting of restrictions has since helped in mobility and demand. (Read here)

19 Jul 2021, 01:44:39 PM IST

Fineotex Chemical gains

Fineotex Chemical has entered into a joint venture with Healthguard Australia to become the exclusive global marketing and sales channel partner with joint operations from Malaysia, it said in a regulatory filing. The company’s stock was up 1.77% to 97.65 a piece at 1:44 pm.

19 Jul 2021, 01:38:34 PM IST

UPL may consider 20% strategic stake sale: report

19 Jul 2021, 01:27:28 PM IST

Retail sales down 50% in June: Retailers Association

Reatil sales in June 2021 were down 50% compared to June 2019, the Retailers Association of India said. The year 2020 was not counted on account of the pandemic, the industry body said.

19 Jul 2021, 01:24:18 PM IST

M&M to recall 600 vehicles manufactured at Nashik plant due to engine issues

Mahindra & Mahindra announced on Monday proactive inspection and replacement of diesel engines in some of its vehicles manufactured at Nashik factory for suspicion of premature wear of engine parts due to contaminated fuel that was received in the factory. "This is a limited batch of less than 600 vehicles manufactured between 21st June to 2nd July 2021 and is keeping in line with the company’s customer centric approach," the company said in a regulatory filing. (Read here)

19 Jul 2021, 01:12:07 PM IST

HDFC twins, ICICI Bank top drags

Index contribution
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Index contribution
19 Jul 2021, 01:06:48 PM IST

Goldman Sachs to hire over 2,000 by 2023 for Hyderabad office

Goldman Sachs said it's new office here will hire over 2,000 employees by 2023, a press release from the investment banker said on Monday. The company on Monday announced the opening of its new office here as part of its commitment to expand its global centre for engineering and business innovation and in India, a press release from Goldman Sachs said. (PTI)

19 Jul 2021, 01:06:02 PM IST

Rajya Sabha proceedings adjourned till 2 pm amidst opposition uproar over various issues

19 Jul 2021, 01:05:30 PM IST

HDFC Bank top drag

Nifty Bank index
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Nifty Bank index
19 Jul 2021, 12:51:57 PM IST

SAT reserves order in PNB Housing preferential issue: report

*The Securities Appellate Tribunal asked Sebi's counsel whether there could be differential pricing for a preferential allotment


19 Jul 2021, 12:47:33 PM IST

AGR hearing at 1 pm: reports

19 Jul 2021, 12:47:18 PM IST

Dow Futures down nearly 200 pts

19 Jul 2021, 12:42:51 PM IST

Oil companies race ahead in EV charging space

Not wanting to be left behind in the race for renewables and electric vehicles, oil marketing companies are racing ahead with their plans to expand their presence in the renewable energy space. Last week state-run Hindustan Petroleum Corporation Ltd (HPCL) joined hands with Tata Power for setting up end-to-end EV charging stations at HPCL’s retail outlets or petrol pumps in multiple cities and major highways across the country. (Read more)

19 Jul 2021, 12:34:22 PM IST

Godawari Power and Ispat gains

Godawari Power and Ipsat's stock was trading at 1,483.25 apiece, up 5.00% at 12:31 pm. Chhattisgarh Environment Conservation Board approved the operation of enhanced capacity of iron ore beneficiation plant to 32,84,000 tonnes per annum (tpa) from from 10,00,000 tpa. The operation of the plant with the enhanced capacity is expected to begin within a week, the company said in a regulatory filing.

19 Jul 2021, 12:27:59 PM IST

Indiabulls RE, Prestige realty drive gains

Nifty realty index
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Nifty realty index
19 Jul 2021, 12:22:45 PM IST

Products manufactured and sold in India are 100% vegetarian, Mondelez clarifies

Packaged foods company Mondelez has clarified that its products made and sold in India are 100% vegetarian after screenshots suggesting that its Cadbury Dairy Milk brand may contain gelatine derived from beef surfaced on social media platforms in India on Sunday. The screenshots shared widely on social media platforms, however, were pertaining to the company’s products sold in markets overseas and not in India. In India, its products are 100% vegetarian, the company said.

19 Jul 2021, 12:07:41 PM IST

Maruti partners with Bank of Maharashtra to help dealers get affordable credit

Maruti Suzuki India Ltd –country’s largest automaker – on Monday announced partnership with Bank of Maharashtra to offer affordable finance options to dealers for buying and maintaining vehicle inventory. Under this partnership, Bank of Maharashtra’s ‘Mahabank Channel Financing’ scheme shall provide comprehensive financing opportunities for the company’s dealer partners across the nation. With vehicle sales declining more than two years now, auto dealers’ financials have taken a significant hit. The lockdown due to the second wave of Covid infections derailed the recovery in sales witnessed since September last year. Hence, Maruti and other automakers have been collaborating with banks to facilitate access to finance option for dealer parents to push vehicle wholesales.

19 Jul 2021, 11:54:48 AM IST

HDFC Bank drags

The bank's stock was trading at 1,479.00 apiece, down 2.81% at 11:50 am. The country's largest private sector lender on Saturday reported a 16.1% year-on-year (YoY) rise in net profit at 7,729.64 crore in the quarter ended 30 June, 2021. The bank had posted a net profit of 6,658.62 crore in the corresponding quarter a year ago.

19 Jul 2021, 11:50:05 AM IST

Sachin Bansal’s Navi Nifty 50 Index Fund Collects Over Rs. 100 Cr in NFO

Navi Mutual Fund, part of Sachin Bansal’s technology-driven BFSI group Navi, whose NFO was open from 3 July 2021 to 12 July 2021 accumulated more than Rs. 100 Cr from around 17,000 investors, a release issued by the company said. The fund is now open for investments across all online investment channels or through financial advisors. Online channel includes platforms like Groww, Coin by Zerodha, Paytm Money, IND Money and more. The collection comes even as the Nifty trades close to its all time highs of around 15,924. In an interview to Mint in May 2021, Saurabh Jain, managing director and CEO, Navi Mutual Fund said the new fund house will focus on reducing the cost of investments for investors with the help of technology. (Read here)

19 Jul 2021, 11:47:37 AM IST

Agritech startup Otipy raises $10.2 mn from investors

Agritech Startup Otipy, which markets fresh vegetables, fruits and other grocery items through its app, has raised $10.2 million (around 76 crore) from investors including SIG and Omidyar Network to expand business. The Series A funding of $10.2 million was led by SIG. Omidyar Network India, Innoven Capital and existing investors IPV (Inflection Point Ventures), Pravega, and FactorE also participated in the round, the company said in a statement. Otipy had earlier raised $2 million in 2020, led by IPV. (PTI)

19 Jul 2021, 11:34:31 AM IST

What Reliance Industries-Just Dial deal means for investors

Shares of Just Dial Ltd declined by 4% in early deals on Monday on the National Stock Exchange after it said Reliance Retail Ventures Ltd would acquire a controlling stake (of more than 40%) in the company. Reliance Industries owns 85% stake in Reliance Retail. As a part of the deal, Reliance Retail would make an open offer to acquire up to 26% stake in Just Dial for about Rs1020 per share. This is 5% lower than Just Dial’s closing price on Friday. Depending on the subscription of the open offer, Reliance Retail would end up owing about 41-67% of Just Dial after the transaction is completed.

19 Jul 2021, 11:32:36 AM IST

Clean Science and Technology gets green signal from investors

Clean Science and Technology Ltd (CSTL) had a stellar stock exchange debut on Monday, with its shares listing at nearly double the issue price. Investor confidence has been strong for speciality chemical manufacturers, given firm demand and realisations. (Read here)

19 Jul 2021, 11:09:49 AM IST

Unlike telecom or aviation, Indian paint sector won't become fully organised

Consolidation has picked pace in the Indian paints industry, especially post the coronavirus pandemic. Large listed companies operating in the decorative paints segment such as Asian Paints Ltd and Berger Paints India Ltd continue to gain market share from smaller and regional paint makers. It should be noted that smaller/ unorganised firms are present largely in the decorative paints and have negligible presence in the industrial paints segment. They mostly sell low value paints such as distempers, primers, and putty. (Read here)

19 Jul 2021, 10:52:39 AM IST

Covid pandemic has gripped entire world; want meaningful discussions in Parliament over it: PM Modi ahead of Monsoon session

19 Jul 2021, 10:49:59 AM IST

Just Dial trades lower

Just Dial's stock was trading at 1,025.00 apiece, down 4.50%. Reliance Retail Ventures Ltd (RRVL) will acquire 66.95% in Just Dial Ltd for 3,497 crore, giving the retail arm of India’s most valuable company access to a database of millions of merchants and other users. Reliance Retail will be classified as a promoter of Just Dial post this deal, it said on Friday. (Read here)

19 Jul 2021, 10:39:00 AM IST

Pegasus surveillance: Govt denies snooping allegations

The names of over 40 Indian journalists appeared on the leaked list of potential targets for surveillance by an unidentified agency using Pegasus spyware, according to a report published in The Wire. Meanwhile, the ministry of electronics and information and technology refuted the reports of surveillance of journalists. (Read more)

19 Jul 2021, 10:34:55 AM IST

Larsen & Toubro trades lower

L&T's stock was trading at 1,611.95 apiece, down 0.44% at 10:31 am. The company has secured significant contracts across business lines, it said in a regulatory filing. The value of the projects may accrue to be in the 1,000-2,500 crore.

19 Jul 2021, 10:24:48 AM IST

Razorpay acquires TERA Finlabs

Fintech startup Razorpay on Monday said it has acquired TERA Finlabs, a Bengaluru-based startup that provides technology, risk and capital solutions to enable embedded financing solutions for businesses. TERA Finlabs is an Indian subsidiary of UK-based digital lender, GAIN Credit. The company, however, did not disclose the financial details of the transaction. (PTI)

19 Jul 2021, 10:08:04 AM IST

Nifty quote: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"The markets have opened with a gap down, but the index still managed to keep above the 15,700 level. Due to the commencement of the new week, the support is now upgraded from 15,400 to 15,600. As long as we do not break this on a closing basis, intra day dips or corrections can be utilized to accumulate long positions for a target of 16,000-16,100."

19 Jul 2021, 10:06:40 AM IST

India reports 38,164 new covid cases, active tally dips further

India recorded 38,164 new covid-19 cases in the last 24 hours, the Union health ministry said on Monday. The daily positivity rate has been below 3% for 27 consecutive days. (Read here)

19 Jul 2021, 10:05:40 AM IST

HDFC twins top drags

Index contribution
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Index contribution
19 Jul 2021, 09:58:23 AM IST

GR Infraprojects lists at 100% premium

GR Infraprojects listed at 1,700.00 apiece, up 103.11% from its IPO price of 816 per share.

19 Jul 2021, 09:55:14 AM IST

Clean Science and Tech lists at 98% premium

Clean Science And Technology lists at 1,784.40 apiece, up 98.27% over IPO price of 837 per share.

19 Jul 2021, 09:44:26 AM IST

J&J eyes putting Baby Powder case liabilities into bankruptcy: report

Johnson & Johnson is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter. (Read here)

19 Jul 2021, 09:34:53 AM IST

IT, realty gain

Nifty sectoral indices
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Nifty sectoral indices
19 Jul 2021, 09:28:59 AM IST

Market opening

The Sensex opened at 52,606.99, down 533.07 points, or 1.00%, while the Nifty was at 15,754.50 down 168.90 points or 1.06%. On the 30-share Sensex, Titan, NTPC, Power Grid, HUL, and Asian Paints opened in green, while the HDFC twins, IndusInd Bank, ICICI Bank, and 21 other stocks opened in red.

Sensex at open
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Sensex at open
19 Jul 2021, 09:11:10 AM IST

Petrol, diesel prices today unchanged

Fuel prices were unchanged on Monday with petrol now retailing at 101.84 in Delhi, whereas diesel at 89.87. In India's financial capital Mumbai, petrol is being sold at 107.83 per litre, whereas diesel has reached 97.45 per litre. (Read here)

19 Jul 2021, 08:53:36 AM IST

Crypto prices today; Bitcoin, ether, dogecoin continue to fall

Cryptocurrency prices today continued to trade lower with Bitcoin prices falling over 2% to $31,590.8. The world's largest cryptocurrency has been stuck in a range between about $30,000 and $40,000 for months after reaching its all-time high near $65,000. As per CoinDesk, ether, the coin linked to ethereum blockchain, declined 5% to $1,882. Dogecoin, on the other hand, was down over 7% to $0.17 whereas other digital tokens like Cardano, XRP, Litecoin also fell in the range of 3-8% over the past 24 hours. (Read here)

19 Jul 2021, 08:41:12 AM IST

Walmart's Flipkart says CCI probe shouldn't treat it same as Amazon

Walmart's Flipkart should not be treated the same as rival Amazon in an Indian antitrust probe as the evidence against the two firms was "qualitatively different", Flipkart argued in a court filing seen by Reuters. Both Amazon and Flipkart have challenged the Competition Commission of India (CCI) in court as they seek revocation of an Indian court's June decision to allow an antitrust probe against them to continue. The companies deny any wrongdoing. (Read here)

19 Jul 2021, 08:36:54 AM IST

Market outlook

Markets are likely to be under pressure on Monday while trends in SGX Nifty suggest a weak opening of Indian benchmark indices. On Friday, the BSE Sensex ended at 53,140.06, down 18.79 points or 0.04%. The Nifty closed at 15,923.40, down 0.80 points. (Read here)

19 Jul 2021, 08:26:06 AM IST

Stocks to Watch

Adani group, Cadila, HDFC Bank, LIC Housing, Telecom stocks, amog other stocks may be in focus today. (Read here)

19 Jul 2021, 08:26:07 AM IST

Oil declines after OPEC+ agrees to boost production into 2022

Oil declined after Opec+ agreed to boost production into 2022, resolving a bitter internal dispute that had shaken the alliance with a pledge to restore millions of barrels of crude output to the energy market. Global benchmark Brent shed more than 1%, while West Texas Intermediate fell. The Organization of Petroleum Exporting Countries and its allies will add 400,000 barrels a day each month from August until all its halted output has been revived. The deal also gives Saudi Arabia, the UAE, Iraq, Kuwait and Russia higher baselines against which their cuts are measured from May 2022. (Read here)

19 Jul 2021, 08:13:03 AM IST

FPIs turn cautious, pull out ₹4,515 cr from Indian equities in Jul so far

Foreign portfolio investors (FPIs) have pulled out 4,515 crore from the equities segment in the first half of July as they turn cautious towards the Indian market. "With markets trading near all-time high, FPIs would have chosen to book profits. They have also been staying on the sidelines given high valuations and most likely on the back of the risk of a potential third wave of the coronavirus pandemic," said Morningstar India Associate Director (Manager Research) Himanshu Srivastava. (Read more)

19 Jul 2021, 08:04:30 AM IST

Blackstone in talks to acquire controlling stake in Simplilearn: report

Private equity firm Blackstone in final stage of talks to acquire a majority stake in online learning platform Simplilearn, Moneycontrol.com reported citing multiple people with knowledge of the matter. "Blackstone will acquire a controlling stake in Simplilearn in a transaction which gives the combined firm an enterprise value of $350 million. An official announcement is expected shortly," one of the people said.

19 Jul 2021, 07:52:49 AM IST

Indian steelmakers set to gain as China weighs taxes on exports

Indian steelmakers are likely to reap bumper profits if China imposes an export tax on its steel to cool domestic prices, analysts said. China’s steel exports rose 23% in June to 6.5 million tonnes (mt) from the preceding month (75% from a year ago) despite the removal of export rebates, according to the trade data released by the country. (Read here)

19 Jul 2021, 07:43:40 AM IST

Lenskart raises $220 mn as India’s tech industry is having a breakout year

India’s Lenskart, an online retailer for eyewear, raised $220 million from investors including Temasek Holdings Pte and Falcon Edge Capital, in another sign of booming interest in the country’s technology startups. (Read here)

19 Jul 2021, 07:31:28 AM IST

Asian markets open lower

Asian shares slipped again on Monday while perceived safe haven assets, including the yen and gold, edged higher as investor risk appetite was soured by fears of rising inflation and a relentless surge in coronavirus cases.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4% for its second straight day of losses.

Japan's Nikkei dropped 1.3% as did Australia's benchmark share index. South Korea's KOSPI was 1% lower while New Zealand's shares were off 0.4%.

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