Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Mumbai: Food delivery company <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> has completed the <keyword id="19901090" type="General" weightage="20" keywordseo="acquisition" source="keywords">acquisition</keyword> of <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword> subsidiaries WEPL and OTPL for the <keyword id="19922574" type="General" weightage="20" keywordseo="entertainment" source="keywords">entertainment</keyword> <keyword id="20028334" type="General" weightage="20" keywordseo="ticketing" source="keywords">ticketing</keyword> business, the company said in its filing with the exchanges. On August 21, the Deepinder Goyal-led company entered into definitive agreements for the acquisition of Paytm's entertainment arms. In its stock exchange filing on August 21, Noida-based Paytm had also confirmed the development. The deal, valued at Rs 2,048 crores on a cash-free, debt-free basis, stands "as a testament to the value" Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale, the company said in a release filed with exchanges. As part of this agreement, OCL will transfer its entertainment ticketing business to Zomato by transferring OCL's entertainment ticketing business to its 100 per cent subsidiaries, Orbgen Technologies Pvt Limited (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL) and selling a 100 per cent stake in its subsidiaries OTPL and WEPL, which operate the TicketNew and Insider platforms, respectively to Zomato. As per the information provided by the fintech, about 280 existing employees from the entertainment ticketing business will be part of Zomato. Paytm had said that the company wants to focus on the payments and financial services distribution segment. During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners. As per Paytm, the company built movie ticketing from the ground up and acquired TicketNew and Insider for a total consideration of Rs 268 crores from 2017 to 2018. Further, additional investments were also made to scale up the business. On Wednesday, after the announcement, the stocks of Zomato opened in green at Rs 256.20. The company in the past six months has delivered a 60 per cent reward to its shareholders. (ANI)

Zomato completes acquisition of Paytm's entertainment and ticketing business

<div type="image" title="Save yourself the trouble of buying physical gold this Diwali, and instead, go digital with Gold ETFs!" height="900" width="1200" msid="114507055" hostid="261" sizebytes="439216" caption="&amp;lt;p&amp;gt;Save yourself the trouble of buying physical gold this Diwali, and instead, go digital with Gold ETFs!&amp;lt;/p&amp;gt;"></div> Ah, <keyword id="18712" type="General" weightage="20" keywordseo="Gold" source="Orion">gold</keyword>! The shiny metal that's been making humans lose their minds since time immemorial. And yet, from <keyword id="23657519" type="General" weightage="20" keywordseo="king-midas" source="keywords">King Midas</keyword> to our neighbourhood aunty and even our moms (and secretly dads), everyone seems to have a super soft spot for the <keyword id="6384667" type="General" weightage="20" keywordseo="Bullion" source="Orion">bullion</keyword>. But here's the kicker: right now, gold prices are breaking all records on their upward trajectory! As of today, prices of 24k carat gold have passed the Rs 80,000 mark per 10 grams. And if experts are to be believed, this train isn't stopping anytime soon! So, as shiny as gold might look, adding even a bit of its glitter as we start decking up for the festive season might not be so easy on your pockets. But let's admit it—we love our gold and can't live without it. No wonder India is the second-largest consumer of the yellow metal in the world, only behind China. Such is our fondness for the metal that the <keyword id="20195223" type="General" weightage="20" keywordseo="world-gold-council" source="keywords">World Gold Council</keyword> had to up our 2024 annual demand forecast to 850 tonnes, up from the previously estimated 750 tonnes. However, our love for gold isn't just about looking fabulously embellished and blinding people with its bling. Indians also see gold as a long-term, trusty investment, supporting our other hard-earned assets, especially when high <keyword id="22195" type="General" weightage="20" keywordseo="Inflation" source="Orion">inflation</keyword> rates pull our returns down. After all, while inflationary pressures generally weaken the purchasing power of our regular paper money, gold is built differently. When the world is buckling to inflation, gold gains value during these times. This is also why it is considered a solid hedge against inflation. With <keyword id="188" type="General" weightage="20" keywordseo="Diwali" source="Orion">Diwali</keyword> and <keyword id="4067" type="General" weightage="20" keywordseo="Dhanteras" source="Orion">Dhanteras</keyword> knocking at our doors, the inflation demon continued to bother India like a guest who refused to leave. Just last month, the Consumer Price Index (CPI) stood at 5.49%, much higher than the anticipated levels. Moreover, the diverging policy stances among central bankers worldwide, growing geopolitical tensions, tough job markets, and extreme weather events are only adding to the uncertainty. In such economically uncertain times, what should your gold strategy be this festive season? To buy or not to buy, that is the question. Well, let’s get to it. <h2><keyword id="20050894" type="General" weightage="100" keywordseo="gold-etfs" source="keywords">Gold ETFs</keyword> to the rescue</h2>See, buying physical gold jewellery is certainly a flex, but also a financial fuss. First, you pay a heavy amount to buy gold. Not to mention all those extra, hefty jewellery-making charges. And then you pay even more money to keep it safe in a bank locker, lest it get stolen. But what if we tell you that you can own pure 24k gold, minus all these frills? Welcome, Gold ETFs (Exchange Traded Funds). Simply put, gold ETFs are like the cool cousins of your traditional gold investments. Instead of stashing gold bars under your mattress like those maniac millionaires we see in Bollywood films, you can now invest and trade in gold through the stock market. It's basically buying units of an <keyword id="19930506" type="General" weightage="20" keywordseo="etf" source="keywords">ETF</keyword> on the stock exchange that directly mirror the ongoing domestic prices of gold. Generally, gold ETFs are equivalent to 99.5% pure physical gold bars, and each ETF unit denotes actual, one gram of gold. And let's face it, who would not want that golden glow in their lives? Gold ETFs have witnessed an over seven-fold surge in their AUM (assets under management) in just the last five years. From Rs 5,613.22 crore in September 2019 to Rs 39,823.50 crore in September 2024, gold ETFs seem to be in-thing. Inflows in gold ETFs have shot up by a whopping 2,695% over the last 5 years. In September 2019, gold ETFs had garnered a mere Rs 44.11 crore. Compare that to the inflows worth Rs 1,232.99 crore gold ETFs received last month. Talk about growing, or glowing popularity! In fact, in just 2024, inflows in gold ETFs have surged by nearly 88% since the beginning of this calendar year. From Rs 657.46 crore in January 2024 to Rs 1,232.99 crore in September 2024, good old gold is never out of season. <h2>So, how do these ETFs work? Should I invest in them now?</h2>All you need is a Demat account. Log into your account, choose the gold ETF scheme you want to invest in, and voila! You’re now a bullion-aire! All your gold ETF units will be stored in this account. Then, you can buy and sell gold ETFs just like you buy shares—in real-time. So, if gold prices inch upwards, which is where gold is currently going, the value of your ETF units will also rise in lockstep. Ashwini Kumar, Senior Vice President and Head of Market Data at ICRA Analytics, says that of late, gold ETFs have been increasingly gaining popularity among investors due to the liquidity, safety and transparency they offer. "With the escalating global geopolitical tensions boosting the ‘safe-haven’ appeal of the bullion, investors are preferring to park their funds in gold ETFs as compared to investing in physical gold, as there is no hassle of storing it. The heightened activity in gold ETFs is also driven by the prospects of an imminent further interest rate cut by the <keyword id="20078761" type="General" weightage="20" keywordseo="u-s-federal-reserve" source="keywords">U.S. Federal Reserve</keyword> in the coming months,” he added. “Investors with a short- to medium-term investment horizon may consider investment through gold ETFs. A buy-on-dips strategy here may help investors capitalise on a temporary correction in prices. Also, given the current market dynamics where equities are showing mixed trends, a modest, 5-10% allocation to gold may serve as a hedge against inflation and market volatility, which may help you balance risks in an optimum manner,” Kumar noted. <h2>Wait, there is no dearth of options</h2>But if ETFs make you go WTF, there’s always digital gold. You can invest in the yellow metal without actually physically holding it for as low as Rs 1. The best part? You can buy or sell this gold 24 X7 seamlessly via multiple apps without having to pay storage costs. On your behalf, your gold is stored in insured vaults by the seller. But remember, digital gold continues to remain unregulated territory in the country, where you venture at your own risk. In 2021, market watchdog SEBI had even asked its members to desist from selling digital gold. Then there are gold mutual funds and the Sarkari SGBs, or sovereign gold bonds. While gold mutual funds invest primarily in gold ETFs, SGBs are issued by the RBI and are also a reliable substitute for holding physical gold. However, with the RBI currently putting brakes on issuing SGBs, investing in them is out of the question. Plus, you should only get your hands on SGBs if you're in for the long haul. Apart from a 2.5% p.a. interest, you don't have any yearly earnings from them. Moreover, no premature redemption is allowed before 5 years, and you'll have to wait a good 8 years to maximise your returns. <h2>Okay, tell me about returns</h2>In contrast, the seventeen gold ETF schemes currently present in the market offer an average one-year return of 29.12%. Stay with it a little longer, and you can end up with returns worth 16.93% and 13.59% over a 3- and 5-year period, respectively. If you look at it, these returns are comparable with the returns delivered by actual, physical gold. Data from Value Research indicates that gold, as a commodity, has delivered returns worth 27.24%, 16.53%, and 14.18% over a 1, 3, and 5-year period, respectively. So, worth investing, right? <h2>What are the risks?</h2>See, markets are as unpredictable as monsoons in Mumbai. One significant market correction can wash away your returns, and one sunny day or an upswing can leave you wallowing in wealth. Since your gold investments are directly linked to these markets, you should steel yourself up for some volatility. Plus, international gold prices are in dollars. So, if our rupee decides to take a nosedive, your returns might look a bit tarnished. Also, know that your ETF might not always perfectly mirror gold prices, which is also known as a tracking error. It's like expecting your Zomato-ordered food to look exactly like the picture on the menu—it's close, but not quite. Then there’s the taxation bit. The budget this year brought down the LTCG (long-term capital gains tax) on gold ETFs from the previous 20% to 12.5% (sans indexation). LTCG is what you pay if you sell your ETF units after 12 months. If you sell your gold ETF units within a year and make handsome returns, the tax you’ll have to pay will be equivalent to your income tax slab rate. <h2>Is gold just for old?</h2>A survey by fintech firm Moneyview thinks otherwise. Per their findings, over 85% of the 3,000 respondents it talked to considered gold to be a valuable asset for wealth preservation, with its intrinsic value and historical performance continuing to drive consumer confidence. Particularly, young investors in the age group of 25–40 years are also investing in gold via both physical and digital ways to build wealth for retirement and other long-term goals. So, young or old, everyone’s going for gold. So, this festive season, with gold prices going north, investing in gold can add that much-needed glitz to your financial attire. But remember, don't go overboard since gold isn't exactly a high-return-yielding asset. But whether you're a seasoned investor looking to diversify or a newbie trying to make their way in the markets, investing in gold offers you a glittering safety cushion. Just remember, while gold can make your portfolio shine, it's your smart investment decisions that truly make you golden. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified, and registered advisors for professional and personalised financial advice.

Simply put: Can investing in gold this festive season add the much-touted Midas touch to your investments?

Amid the ongoing startup gloom comes good news in fintech unicorn <keyword id="19944449" type="General" weightage="20" keywordseo="incred" source="keywords">Incred</keyword> which has posted Rs 109 crore in profit in FY23 as compared to Rs 31 crore in FY22, a more than 3.5 times growth. Incred's revenue surged 77.46 per cent to Rs 866 crore during FY23 from Rs 488 crore in FY22, according to its financials with the Registrar of Companies (RoC). The finance cost (interest expenses) was up 62.6 per cent to Rs 356 crore in FY23 from Rs 219 crore in FY22, as the company scaled its operations, according to an Entrackr report. Incred has likely built a loan book of Rs 7,500 crore within the last six years. Late last month, the fintech lender became India's second unicorn of 2023 (the other being quick commerce startup <keyword id="19939134" type="General" weightage="20" keywordseo="zepto" source="keywords">Zepto</keyword>) after raising $60 million from new and existing investors. <keyword id="20112130" type="General" weightage="20" keywordseo="incred-wealth" source="keywords">InCred Wealth</keyword>, the wealth management subsidiary of InCred, led the funding round with investing $36.76 million, followed by MEMG Family Office at $9 million. Ravi <keyword id="20112129" type="General" weightage="20" keywordseo="pillai" source="keywords">Pillai</keyword>, Chairman at RP Group of Companies, and <keyword id="19960548" type="General" weightage="20" keywordseo="ram-nayak" source="keywords">Ram Nayak</keyword>, Co-Head of Deutsche Bank, invested $5.4 million and $1.2 million, respectively. InCred Special Opportunities Fund VCC, Singapore-registered entity of InCred, Varanium Capital Advisors and NABS <keyword id="20112128" type="General" weightage="20" keywordseo="vriddhii" source="keywords">Vriddhii</keyword> also participated in the round. With this funding, InCred is now valued at more than $1.03 billion. The firm last raised $68 million in a debt funding round from public sector banks and public financial institutions. <keyword id="19901323" type="General" weightage="20" keywordseo="zomato" source="keywords">Zomato</keyword> in 2022 entered into a strategic partnership with fintech lender InCred for "hassle-free" credit facilities. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/mercedes-benz-gls-gets-11-lakh-more-expensive-in-india-after-facelift/slidelist/106637475.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/mercedes-benz-gls-gets-11-lakh-more-expensive-in-india-after-facelift/slidelist/106637475.cms" target="_blank">Mercedes-Benz GLS gets ₹11 lakh more expensive in India after facelift</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-squad-for-afghanistan-show-world-cup-trials-are-on/slidelist/106633092.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-squad-for-afghanistan-show-world-cup-trials-are-on/slidelist/106633092.cms" target="_blank">New and veteran names in India’s T20 squad for Afghanistan show World Cup trials are on</a><a href="https://www.businessinsider.in/business/auto/webstories/top-10-electric-cars-sale-in-india-in-december-2023/slidelist/106627784.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-10-electric-cars-sale-in-india-in-december-2023/slidelist/106627784.cms" target="_blank">Tata Motors dominates the EV car market in December with Tiago leading the charge</a>

Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77%

Top VC firm <keyword id="136147" type="General" weightage="50" keywordseo="sequoia-capital-india" source="Orion">Sequoia Capital India</keyword> has sold 17.2 crore shares of <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> in two tranches in the open market, lowering down its stake in the online food aggregator to 4.4 per cent from earlier 6.41 per cent. In a fresh filing with the Bombay Stock Exchange (<keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>), Zomato said Sequoia Capital India sold some 6.7 crore shares in the September 6-October 14, 2021 period and 10.5 crore shares between June 27-August 25, 2022. The stock sales were performed by <keyword id="14821825" type="General" weightage="50" keywordseo="sequoia-capital-india-growth-investment-holdings" source="Orion">Sequoia Capital India Growth Investment Holdings</keyword> I and <keyword id="13302083" type="General" weightage="50" keywordseo="sci-growth-investments-ii" source="Orion">SCI Growth Investments II</keyword>, according to Zomato. <keyword id="10639596" type="General" weightage="50" keywordseo="sequoia-capital-india-investments-iv" source="Orion">Sequoia Capital India Investments IV</keyword> also received 45,153,346 incremental equity shares on August 10 owing to the acquisition of quick-commerce delivery platform Blinkit, which further has a lock-in period of one year. Sequoia Capital India joins a list of private market investors like Delivery Hero, Moore Strategic Ventures, and <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, which have sold their shares in Zomato in the past months, either in open market or via block deals, as the online food delivery platform's stock gets hammered. On Friday, Zomato shares closed around Rs 61.85. Earlier this month, ride-hailing platform Uber sold its 7.8 per cent stake worth over $390 million in Zomato. Uber, which suffered around $707 million loss in its Zomato investment in the first half of this year, sold its share in the food delivery aggregator via a block deal on stock exchanges that has been bought by several global and Indian VCs. The Zomato block deal was executed at Rs 50.44 per share equivalent to 612 million or 7.8 per cent of total outstanding shares. In a statement to IANS, Zomato had said that "We are a public company and are not privy to what our shareholders are doing with their shares". According to the company, the losses for Blinkit are coming down every month -- from Rs 2,040 million (about $26 million) in January 2022 to Rs 929 million ($12 million) in July. The 10-minute delivery platform was acquired by Zomato for Rs 4,447 crore (about $568 million). SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indices-end-marginally-higher-after-a-volatile-trading-session/articleshow/93802735.cms">Indices end marginally higher after a volatile trading session</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/heres-everything-you-need-to-know-about-uks-new-scale-up-visa/articleshow/93799259.cms">Here’s everything you need to know about UK’s new Scale-up visa</a>

You Searched For "zomato investment" and got 4 results

Zomato completes acquisition of Paytm's entertainment and ticketing business

ANI

Simply put: Can investing in gold this festive season add the much-touted Midas touch to your investments?

Ira Alok Puranik

Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77%

IANS

Sequoia Capital offloads 2% of its stake in Zomato

IANS

Popular Keywords

Buying Guides