Reliance Retail Ventures Ltd (RRVL), the retail arm of Reliance Industries, is said to be in advanced talks with global investors to raise $2.5 billion by the end of this month. This latest fundraising plan follows RRVL bagging $1 billion investment in August from Qatar Investment Authority (QIA) for a 0.99 per cent stake. QIA valued the country’s largest retailer at a pre-money equity valuation of nearly Rs 8.28 trillion.

According to a Reuters report, based on three sources, the plan to raise $2.5 billion is part of a combined $3.5 billion target the firm has set for itself. The QIA investment was part of this exercise.

Food delivery and restaurant aggregation platform Zomato has introduced 'Foodie Buddy,' also known as Zomato AI, a personalised artificial intelligence (AI) based chatbot. The company said in its recent blog post that the chatbot has been designed to assist customers in making their dining choices.

According to the platform, this feature will be accessible exclusively to Zomato Gold members and will be launched in a phased manner.

The Enforcement Directorate late Friday night arrested Jet Airways founder Naresh Goyal in a money laundering case linked to an alleged bank fraud of Rs 538 crore at the Canara Bank, official sources said.

He was taken into custody under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office here.

The country's maiden solar mission -- Aditya-L1 is all set to be launched today at 11

With the launch rehearsal and vehicle internal checks all being completed, the Indian Space Research Organisation (ISRO) is all set for the country's maiden solar mission -- Aditya-L1 from the Satish Dhawan Space Centre (SDSC-SHAR) in AP's Sriharikota.

The National Company Law Tribunal (NCLT) on Friday admitted the insolvency application against instant drink mix Rasna for unpaid dues to the tune of Rs 71 lakh.

The application for insolvency was filed by logistics company Bharat Road Carrier Pvt Ltd.

Indian equities stood out in August as foreign investors sold stocks in almost every other Asian emerging market, thanks to the nation’s strong corporate earnings performance and its growing appeal as an alternative to China.

Global funds purchased $1.6 billion of Indian shares on a net basis last month through Aug. 30, according to the latest exchange data compiled by Bloomberg. That’s even as they withdrew a combined more than $6 billion from Taiwan, South Korea and Indonesia. With a small $35 million inflow through Aug. 24, Malaysia was the only other exception.

Shares of state-owned oil exploration & production companies, Oil and Natural Gas Corporation (ONGC) and Oil India surged up to 6 per cent on the BSE in Friday’s intra-day trade after the government hiked price of domestic natural gas to $8.6 per metric million British thermal units (MMBtu). The new price, scheduled to take effect from September 1, marks an increase from the current price of $7.85 mBtu.

Fitch Ratings, moreover, affirmed ONGC's rating at 'BBB-' with a stable outlook. Fitch expected ONGC's upstream Ebitda over FY24-FY27 to improve, driven by increase in oil price assumptions, given lower uncertainty on demand destruction related to energy transition risks.

Edtech giant Byju's and its term loan B lenders have decided to postpone an ongoing disagreement in the US courts until October 06. This extension aims to provide more time to achieve an out-of-court resolution, according to a report by Mint.

The parties are working on reaching a forbearance agreement, and discussions are still ongoing, the court said in its August 24 order, according to the Mint report.

Shares of ITD Cementation India soared 14 per cent to hit a new high of Rs 247.4 on the BSE in Friday’s intra-day trade amid heavy volumes after the company secured a marine contract worth approximately Rs 3,290 crore excluding GST.

The stock surpassed its previous high of Rs 219.75, which it had touched on August 24. As of 9:54 am, the average trading volumes on the counter jumped over four-fold as around 8.2 million shares, which represented 4.4 per cent of ITD's total equity, changed hands on the NSE and BSE.

Indian gross domestic product (GDP) grew by 7.8 per cent in the quarter that ended on June 30, data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Thursday showed.

In the April-June quarter last year, the GDP growth rate was 13.1 per cent. In the previous quarter, that ended on March 31, Indian GDP had recorded a growth rate of 6.1 per cent.

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