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New Delhi, <keyword id="18648559" type="General" weightage="20" keywordseo="online-gaming-and-sports-company" source="Orion">Online gaming and sports company</keyword> Nazara Technologies on Monday said it plans to raise Rs 100 crore from <keyword id="18647120" type="General" weightage="20" keywordseo="Kamath-Associates" source="Orion">Kamath Associates</keyword> and <keyword id="18647121" type="General" weightage="20" keywordseo="NKSquared" source="Orion">NKSquared</keyword> to meet growth and funding requirements. In its board meeting held on September 4, Nazara approved a proposal for issuance of 7,00,280 preferential shares each to Kamath Associates and NKSquared valued at Rs 99.99 crore, a regulatory filing said. "Nikhil Kamath symbolizes success in India's tech arena, and this fund raise holds immense value for us at Nazara as we continue to build a diversified gaming platform in India. Beyond the funds raised, his investment stands as a resounding vote of confidence in Nazara," Nazara Technologies CEO Nitish Mittersain said in a statement. The funds will be used for making strategic acquisitions and investments in various companies, meeting growth and funding requirements of its subsidiaries, associates and joint ventures etc, the filing said. "Gaming in India is poised for strong growth in the years to come and Nazara has built a well-diversified, profitable gaming platform well suited to take advantage of opportunities in the years ahead. We look forward to supporting Nitish and his team in achieving their growth aspirations for Nazara," Kamath Associates and NKSquared partner Nikhil Kamath said.

Nazara Tech to raise Rs 100 cr from Kamath Associates, NKSquared

Zerodha’s co-founders Nithin and Nikhil Kamath donate ₹100 crore in FY22

<ul><li><keyword id="44903" type="General" weightage="20" keywordseo="shiv-nadar" source="Orion">Shiv Nadar</keyword> made donations worth ₹1,161 crore during FY22, which comes up to ₹3 crore per day.</li><li>Wipro’s <keyword id="6419840" type="General" weightage="20" keywordseo="azim-premji" source="Orion">Azim Premji</keyword> slips to the second spot with an annual donation of ₹484 crore as his contribution towards philanthropy has fallen by 95% year-on-year.</li><li>Overall, contributions towards philanthropy have fallen in FY22 because of the pandemic impact.</li><li>The top 10 list cumulatively donated ₹3,378 crore in FY22, as against a combined donation of ₹12,785 crore last year.</li></ul>Shiv Nadar, the founder and chairman of HCL Technologies, is India’s most generous, with donations of ₹3 crore per day, even as contributions towards philanthropy continue to moderate after the pandemic. With an annual contribution of ₹1,161 crore in fiscal 2022, Shiv Nadar has displaced Wipro’s Azim Premji as the most generous Indian, according to the EdelGive <keyword id="3606268" type="General" weightage="20" keywordseo="hurun-india-philanthropy-list" source="Orion">Hurun India Philanthropy List</keyword> 2022. The top 10 list cumulatively donated ₹3,378 crore in FY22, as against a combined donation of ₹12,785 crore last year. The good news is that the list has seen 19 new additions, with total donations by these new entrants adding up to ₹832 crore. Also, six women have featured on the list this year. The youngest philanthropist on the list is 36-year-old Nikhil Kamath of Zerodha. Clearly, the young entrepreneurs are beginning their philanthropic journey early on unlike many others from corporate India. Nadar’s philanthropic efforts have mainly focussed on education. Overall, contributions towards philanthropy have fallen in FY22 because of the pandemic impact. Nadar’s donation too is down 8% in the fiscal year 2021-22, as per the list. Wipro’s Azim Premji slipped to the second spot with an annual donation of ₹484 crore as his contribution towards philanthropy has fallen by 95% year-on-year due to the exceptional share buy-back in 2021, says the report. Billionaire <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, the chairman of Reliance Industries, is third on the list with contributions totalling ₹411 crore. Ambani’s contribution fell 29% compared to last year. Kumar Mangalam Birla was fourth on the list with a contribution of ₹242 crore. Couples Susmita &amp; Subroto Bagchi and Radha &amp; NS Parthasarathy from Mindtree’s management debuted on the list with a combined donation of ₹426 crore to the Indian Institute of Science (IISc) and also entered the top 10 and were ranked fifth. Both Subroto and Parthasarathy are co-founders of Mindtree. With a donation of ₹190 crore, <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> &amp; family ranks seventh on the EdelGive Hurun India Philanthropy List 2022. Next in line is Anil Agarwal &amp; family of Vedanta whose contribution increased by 27% from last year to ₹165 crore. Nandan Nilekani and his wife Rohini Nilekani are ranked ninth and eleventh, respectively, in the list and are active philanthropists. Larsen &amp; Toubro’s group executive chairman AM Naik is ranked tenth with a donation of ₹142 crore in FY22. While many billionaires of the past have turned generous later in life, some new-age tech entrepreneurs are giving away much earlier. <keyword id="1430802" type="General" weightage="20" keywordseo="nithin-kamath" source="Orion">Nithin Kamath</keyword> and Nikhil Kamath of Zerodha increased their donation by a whopping 300% to ₹100 crore during the year. At 36 years, Nikhil Kamath is the youngest philanthropist on the Hurun list. Another surprise entrant this year has been Rakesh Gangwal, the co-promoter of InterGlobe Aviation (company that owns Indigo Airlines). Gangwal debuted this year with a personal contribution of ₹100 crore to the School of Medical Sciences and Technology at IIT, Kanpur. “EdelGive Hurun India Philanthropy List aims at chronicling the Indian philanthropy landscape and so far the transformation is encouraging. For instance, over the last 5 years, (the) number of donors who have given more than ₹100 crore have grown from 2 to 15, and over ₹50 crore have grown from 5 to 20. Considering the wealth creation potential of India and assuming that the billionaires keep up with philanthropy, I expect these numbers to at least double over the next 5 years,” said Anas Rahman Junaid, MD and chief researcher at Hurun India. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 10 philanthropists </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Donation (in ₹ crore) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Primary Cause </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shiv Nadar &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,161 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Azim Premji &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">484 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">411 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kumar Mangalam Birla &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">242 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Susmita and Subroto Bagchi </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">213 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Radha and NS Parthasarathy </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">213 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gautam Adani &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">190 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Disaster Relief </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Anil Agarwal &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">165 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Disaster Relief </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedanta </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nandan Nilekani </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">159 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Societal Thinking </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">AM Naik </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">142 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-bags-project-from-best-to-install-over-1-million-smart-meters-in-mumbai/articleshow/94982223.cms">Adani Transmission bags project from BEST to install over 1 million smart meters in Mumbai</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tracxn-technologies-lists-at-3-7-premium/articleshow/94978323.cms">Tracxn Technologies lists at 3.7% premium</a>

Shiv Nadar tops philanthropy list, even as India’s most generous cut back after the pandemic

<ul><li>Without any <keyword id="441877" type="PERSON" weightage="20" keywordseo="direct-marketing">direct marketing</keyword> and advertising costs, the platform has been investing on creating awareness about itself through knowledge sharing platforms like Varsity.</li><li>Currently, <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword> facilitates over 5 million orders daily, which accounts for about 10-15% of the daily equity volume in India, according to the platform. </li><li>During the months of the lockdown, the company claims to have seen a 100% month-on-month growth.</li><li><keyword id="968035" type="PERSON" weightage="20" keywordseo="Nikhil-Kamath">Nikhil Kamath</keyword>, Co-Founder and CIO Zerodha and <keyword id="8547049" type="UNKNOWN" weightage="20" keywordseo="True-Beacon">True Beacon</keyword>, tells us their magic growth mantra and vision for the Zerodha of the future.</li></ul> Back in 2010, when Nikhil Kamath along with his brother <keyword id="1430802" type="COMPANY" weightage="20" keywordseo="Nithin-Kamath">Nithin Kamath</keyword> founded Zerodha, an online brokerage platform, the duo spent almost nothing on advertising the platform. Since then, their strategy to target consumers has been simple, they have been growing the brand by focusing more on the product, making the end-user’s experience seamless and democratizing participation. Without any direct marketing and advertising costs, the platform has been investing on creating awareness about itself through knowledge sharing platforms like Varsity. The strategy seems to have worked well. Currently, Zerodha facilitates over 5 million orders daily, which accounts for about 10-15% of the daily equity volume in India, according to the platform. During the months of the lockdown, the company claims to have seen a 100% month-on-month growth. We recently caught up with Nikhil Kamath, so understand how the brand has been expanding its offering and how, with zero marketing and advertising spends, the brand has been succeeded in bringing more and more users to its platform. Excerpts: Q) While the Covid-19 lockdown brought about gloom for most organizations, Zerodha has been witnessing substantial growth. Tell us a bit about how the last few months have been and the factors that you feel have led to this growth. We, along with most online businesses, have been lucky through the corona cycle. Work from home has expedited the trend towards moving to mobile and doing most transactions online, which were prevalent pre-crisis. Zerodha, along with the rest of the broking industry has witnessed considerable growth, as a younger breed of millennial investor, is entering the financial markets. Falling interest rates and flattening real yields have also aided in this surge. Historically in a bull market, equity participation rises. But this time around we are witnessing very mature behavior. During a bear market valuations are low, and the market corrects itself, it is an excellent time to make long-term investments. Usually, that is the behavior of seasoned traders. Still, we are experiencing a surge from first-time investors who are looking for viable alternatives to investment than real estate and other forms of investments that have declining yields. The pandemic has heightened this trend as people have more time on their hands to educate themselves and make informed decisions. Q) With so many new people now entering the fray, what steps are you taking to educate them so that they can make informed decisions and trades? We continuously have been building our education ecosystem around the stock market and the <keyword id="2461546" type="PERSON" weightage="20" keywordseo="FinTech">fintech</keyword> space. We do this through educational tools such as varsity, constant engagement on social media platforms and speaking engagements. <keyword id="3342240" type="PERSON" weightage="20" keywordseo="Karthik-Rangappa">Karthik Rangappa</keyword>, who leads the Varsity programme at Zerodha, has been working towards vernacular languages to make the free educational tool accessible to those not well-versed in English. One of the companies we have invested in through our incubator, Finshots, simplifies financial concepts and macroeconomic concepts for the benefit of new participants in capital markets or even incumbents less familiar with business concepts. Q) You say you have zero ad spends. Walk us through the strategy you employed to grow the brand. Our belief to grow the brand is to make the end-users experience seamless and democratize participation. We do this in a couple of different ways. Continually evolving our product to create the end-user experience seamless is one. The most significant growth factor for us is a product that is continually changing. The other is to raise awareness and enable products in the wealth management and fintech space through our incubator, which has led to making the financial ecosystem more robust with companies such as Finshots to Small Case. The ethos behind us investing in startups is to ensure that more people understand the capital markets ecosystem and have a better user experience. To that end, we have varsity to educate and Rainmatter that builds products in the fintech and wealth management space. Q) In your line of business, trust plays a major role as investors are trusting you with their money. How are you building that trust in the minds of your consumers? Most of our new customers hear about both Zerodha and True Beacon through word of mouth and existing clientele. In marketing, testimonials are the highest trust evoking factor. Transparency has been at the forefront of our ethos from the beginning; we continue in our pursuit of simplifying and reducing the opacity around stock markets. For example, in our asset management company True Beacon, we don't have management fees or lock-in periods or even entry and exit fees, which is an industry practice. Instead, we only charge a performance fee that brings greater accountability, and hopefully will align fund management and client interests going forward. Q) Varsity has seen a good uptake among users. What are your plans for expanding on that offering? Yes, we have had great traction with Varsity since its inception and more so during the lockdown. We had over 8 million page views and over 9 lakh app install since March 23, 2020. The number of user-submitted queries have crossed 8,000. Karthik Rangappa, Head of Varsity at Zerodha’s current focus is to continue adding more quality content and cover a wider variety of topics related to capital markets. The slightly longer-term focus is to create a series of high-quality certificate programs. We are even open to the idea of collaborating with the academia (Domestic or International) for accreditation. Q) When you launched, one of your USP was pricing. But now in the discount broking segment, there are many other players too. How are you offering a differentiated product? Zerodha was originally founded with the idea of being a brokerage firm for traders built by traders, and we disrupted the existing pricing structure by introducing a deeply discounted flat fee-per-trade model. Deeply discounted flat fee -per trade model gave us a significant boost, but to stay ahead of the curve, we realized that technology could disrupt the existing models. Traders were using legacy platforms with poor user experiences. Building our proprietary technology to make a trade as seamless as possible kept us ahead of the curve. We continue to invest in technology to keep finding new ways of building investment and trading applications that make the use case for end-users, be it a seasoned trader or a first-time capital market participant, to simplify investments. Kailash Nadh, our CTO who specializes in building products for mass use has selectively built a resilient innovative team who continue to push the boundaries of what can be achieved. Q) You’ve spoken about how your childhood played a defining role in you having a unique outlook towards traditional marketing models. Tell me a bit more. From playing chess professionally as a teenager to all the other pursuits, I might have followed since. The one thing that has always remained relevant is creating a set of rules and staying disciplined within that. This, along with diversification and delaying gratification, has been essential life lessons that might apply to most spheres of life. Stoicism has been a guiding paradigm in my life and a skill that I had to develop as a professional trader. Trading at a very fundamental level is making decisions that would deal with obstacles in a volatile market, stoicism guides you to perceive and react to obstacles rationally and not make emotional decisions. Q) While you aren't advertising now, is there a scope of you doing some sort of advertising/marketing in the near future? Are you willing to explore something like influencer or content marketing in the future? We are not opposed to marketing. However, it should solve a challenge or have some value other than just brand recognition. Influencer marketing is a viable option, provided it teaches something to capital markets participants in an informative way. Q) What is your vision for Zerodha? It is our continuous endeavor to create a platform that can offer differentiated products. Given the high levels of under-penetration in India, there is a huge scope for growth in the capital markets ecosystem. On another front, we have started an asset management firm called True Beacon that caters to the other end of the spectrum than retail users. We have also launched an FPI that enables global investors and not just institutional players to participate in the Indian equity market - thereby encouraging the foreign inflow of investments in the Indian equity market. The response to the True Beacon domestic and global entity has been positive, and we will continue to roll out new products on that first catering to HNIs in India and abroad.

Zerodha has been growing 100% month-on-month during the lockdown without any direct marketing, Nikhil Kamath tells us how

<ul class="summary-list"><li><keyword id="1268253" type="PERSON" weightage="60" keywordseo="Robinhood">Robinhood</keyword> is preparing to reveal filings for its IPO as soon as next week, <a href="https://www.bloomberg.com/news/articles/2021-05-18/robinhood-said-to-plan-to-reveal-ipo-filing-soon-as-next-week?srnd=premium&amp;sref=GUP2BhaGBhaG">Bloomberg reported Tuesday</a>. </li><li>The company is aiming for a public <keyword id="2525335" type="PERSON" weightage="60" keywordseo="trading-debut">trading debut</keyword> in late June.</li><li>The filing will give investors their first comprehensive look at Robinhood's financials.</li></ul>Robinhood is preparing to reveal filings for its initial public offering as soon as next week, <a href="https://www.bloomberg.com/news/articles/2021-05-18/robinhood-said-to-plan-to-reveal-ipo-filing-soon-as-next-week?srnd=premium&amp;sref=GUP2BhaGBhaG">Bloomberg reported Tuesday</a>.The company - best known for its trading platform, which was at the center of this year's <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> trading frenzy - is aiming to make its public trading debut in late June, according to Bloomberg. The filing will give potential investors their first comprehensive look at the company's financials, as well as risks associated with its stock.Robinhood <a href="https://markets.businessinsider.com/news/stocks/robinhood-ipo-files-confidentially-in-us-new-report-says-2021-3-1030238433">in March submitted confidential documents</a> to the US Securities and Exchange Commission, a move that allows the regulator to weigh in on any changes that are needed before they are made widely available.The app was thrust into the mainstream spotlight in January after <keyword id="6416579" type="UNKNOWN" weightage="60" keywordseo="Retail-Investors">retail investors</keyword> active on the Reddit social media site <a href="https://markets.businessinsider.com/news/stocks/melvin-capital-gabe-plotkin-took-home-846-million-in-2020-2021-2-1030067950?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">pushed up GameStop's share price to force a short-squeeze </a>on hedge funds that were positioned to profit when the share price fell.Robinhood has said the app had more than 13 million users at the end of 2020.Read more: <a href="https://www.businessinsider.com/millennial-investing-tips-outlook-robinhood-of-india-founder-nikhil-kamath-2021-5" target="_blank" rel="noopener">Nikhil Kamath became a 34-year-old billionaire as the founder of the 'Robinhood of India.' He told us why millennials and Gen Zers have an investing edge over their predecessors and shared his advice for retail traders.</a>

Robinhood could file for its IPO as soon as next week, new report says

Software giant <keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword> softening its stand on <keyword id="64527" type="General" weightage="20" keywordseo="moonlighting" source="Orion">moonlighting</keyword> has allowed its staffers to take up external work with prior permission, sources stated on Friday. The company has intimated to the employees its new policy through email. The email from the company states that any employee, who wishes to take up gig work, may do so, with the prior consent of their manager and <keyword id="15318360" type="General" weightage="20" keywordseo="bp-hr" source="Orion">BP-HR</keyword>, and in their personal time, for establishments that don't compete with Infosys or Infosys' clients. The corporate world has been discussing moonlighting for quite some time. Techies working for other companies has become a trend and concern in the industry with startups readily offering very attractive offers to utilize the skills of the talent working for other companies. <keyword id="197349" type="General" weightage="50" keywordseo="rishad-premji" source="Orion">Rishad Premji</keyword>, the Chairman of <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> repeatedly issued statements against moonlighting and had also asked the startups not to only focus on immediate fortune. The company had earlier announced the firing of hundreds of employees for integrity issues. Rishad Premji also shared how an employee in an important position was shown the doors for lack of integrity and later the company did not give him a clean relieving letter. He also shared that it did not take more than 10 minutes to fire 20 staffers of higher positions who showed a lack of integrity. The insiders in Infosys stated that the step would help the company to find solutions for many challenges that are being faced presently. The decision would help the employee to carry out the work of his or her choice. The step by Infosys will draw sharp criticism and set a new trend in the corporate world, experts say. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tata-consumer-products-profit-grows-36-to-355-crore-in-q2-fy23/articleshow/94992535.cms">Tata Consumer Products profit grows 36% to ₹355 crore in Q2 FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/zerodhas-co-founders-nithin-and-nikhil-kamath-donate-100-crore-in-fy22/slidelist/94991823.cms">Zerodha’s co-founders Nithin and Nikhil Kamath donate ₹100 crore in FY22</a>

Infosys to now allow moonlighting with prior permission, say sources

The rupee depreciated 12 paise to 82.91 against the <keyword id="6368584" type="General" weightage="20" keywordseo="us-dollar" source="Orion">US dollar</keyword> in morning trade on Friday tracking a firm American currency in the overseas market. At the interbank foreign exchange, the domestic unit opened at 82.89 against the dollar, then lost further ground to 82.91, registering a loss of 12 paise over its previous close. The local unit also touched 82.75 against the American currency in initial deals. On Thursday, the rupee rebounded from its lifetime low to close 21 paise higher at 82.79 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.11 per cent to 113. The rupee which closed at 82.79 against the dollar opened slightly weaker. On Thursday, the RBI intervened by selling more than a billion dollars and the rupee gained from a low of 83.23 to 82.70, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. The dollar index and oil were flat at 113 and USD 92.30 per barrel, respectively, Bhansali said adding that the <keyword id="95133" type="General" weightage="20" keywordseo="Asian-currencies" source="Orion">Asian currencies</keyword> were generally weaker against the dollar. Brent crude futures, the global oil benchmark, advanced 0.37 per cent to USD 92.72 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 316.26 points or 0.53 per cent up at 59,519.16, and the broader NSE Nifty rose 83.50 points or 0.48 per cent to 17,647.45. Foreign Institutional Investors (FIIs) were net buyers in the capital markets as they purchased shares worth Rs 1,864.79 crore on Thursday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/should-you-buy-gold-this-dhanteras/articleshow/94997439.cms">Should you buy gold this Dhanteras?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/zerodhas-co-founders-nithin-and-nikhil-kamath-donate-100-crore-in-fy22/slidelist/94991823.cms">Zerodha’s co-founders Nithin and Nikhil Kamath donate ₹100 crore in FY22</a>

Rupee falls 12 paise to 82.91 against US dollar

<a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell&amp;hash=8122c716833601fc1471f79af063b104?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesttm_medium=ingest" target="_blank" rel="noopener">Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.</a><a href="http://newsletter.businessinsider.com/join/4np/insider-investing?nr_email_referer=1&amp;utm_sou%5Bu%5B" target="_blank" rel="noopener">Sign up for Insider Investing</a> for your weekly <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> analysis.1. Global stocks slide as rising inflation spooks investors. <a href="https://www.businessinsider.com/stock-market-today-global-shares-inflation-tech-crypto-gold-2021-5">See what markets are doing today.</a>2. Bitcoin and other major cryptocurrencies tumble. The drop came after China's central bank said virtual currencies can't be used to conduct business as they <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-cryptocurrencies-china-crypto-crackdown-price-outlook-2021-5-1030445035">don't have real value</a>.3. UK inflation more than doubled to a 1-year high in April. The economy is <a href="https://markets.businessinsider.com/news/stocks/uk-cpi-inflation-april-energy-clothing-prices-economy-reopened-2021-5-1030444793">gradually reopening from strict lockdowns</a>, aided by its vaccine rollout.4. Robinhood could file for its IPO as soon as next week. The trading app is aiming for a <a href="https://markets.businessinsider.com/news/stocks/robinhood-ipo-next-week-june-trading-debit-public-market-offering-2021-5-1030443330">public trading debut in late June</a>.5. 'Long bitcoin' is now the world's most-crowded trade. Fewer fund managers than last month <a href="https://markets.businessinsider.com/currencies/news/bitcoin-bofa-fund-manager-survey-may-long-peaks-bubble-performance-2021-5-1030441821">think bitcoin will outperform</a> in 2021, a BofA survey revealed.6. Michael Burry's bet against Tesla could be dangerous. Loup Ventures' Gene Munster says <a href="https://markets.businessinsider.com/news/stocks/michael-burry-tesla-short-dangerous-firm-worth-trillions-loup-ventures-2021-5-1030442643">Tesla could be worth more than $2 trillion long-term</a>.7. <a href="https://markets.businessinsider.com/earnings-calendar">Earnings expected.</a> <a href="https://markets.businessinsider.com/stocks/csco-stock">Cisco</a> and <a href="https://markets.businessinsider.com/stocks/tgt-stock">Target</a> are highlights.8. Nikhil Kamath became a 34-year-old billionaire as the founder of the 'Robinhood of India.' He told us <a href="https://www.businessinsider.com/millennial-investing-tips-outlook-robinhood-of-india-founder-nikhil-kamath-2021-5?r=opening-bell" target="_blank" rel="noopener">why millennials and Gen Zers have an investing edge over their predecessors</a> - and shared his advice for retail traders.9. An equities chief overseeing $7.5 billion has been preparing for inflation since June. John Bennett <a href="https://www.businessinsider.com/investing-strategy-outlook-inflation-regime-change-correction-stocks-john-bennett-2021-5?r=opening-bell" target="_blank" rel="noopener">lays out his playbook and 2 sectors set to surge</a>.10. Legendary investor Jeremy Grantham told us why he went all in on climate-crisis investing after retiring from portfolio management. He also shared <a href="https://www.businessinsider.com/jeremy-grantham-interview-explains-climate-change-investing-opportunities-career-advice-2021-5?r=opening-bell" target="_blank" rel="noopener">the one career path he'd choose if he could do it all over again</a>.

10 things you need to know before the opening bell

<ul><li>The agency recently carried out search operations at two premises in <keyword id="6354925" type="General" weightage="80" keywordseo="kolkata" source="Orion">Kolkata</keyword>. </li><li>The instant case was registered on the basis of the <keyword id="6358015" type="General" weightage="50" keywordseo="fir" source="Orion">FIR</keyword> filed by the Kolkata police against Aamir <keyword id="6355601" type="General" weightage="80" keywordseo="khan" source="Orion">Khan</keyword> and others.</li><li>Khan, launched a mobile gaming application namely E-Nuggets, which was designed for the purpose of defrauding public. </li></ul> The Enforcement Directorate (ED) has frozen <keyword id="6395759" type="General" weightage="100" keywordseo="bitcoins" source="Orion">Bitcoins</keyword> worth ₹ 7.12 crore and seized ₹ 1.65 crore in cash as part of its probe in the E-nuggets gaming app case, officials said. The agency recently carried out search operations at two premises in Kolkata, leading to seizure of ₹ 1.65 crore in cash and freezing of 44.5 Bitcoin (equivalent to ₹ 7.12 crore as per exchange rate) and other incriminating documents under the provisions of the Prevention of Money Laundering Act (PMLA). The instant case was registered on the basis of the FIR filed by the Kolkata police against Aamir Khan and others. The FIR filed was based on a complaint filed by Federal Bank authorities in a city court. Khan, launched a mobile gaming application namely E-Nuggets, which was designed for the purpose of defrauding public. Further, after collecting handsome amount from the public, all of the sudden, the withdrawal from the said app, was stopped, on one or the other pretext. Thereafter, all data including profile information was wiped off from the app servers. It was revealed that multiple accounts (more than 300) were used to launder the money, officials said. Earlier during search operation against Khan, an amount of ₹ 17.32 crore was seized from his residence and Bitcoins worth ₹ 13.56 crore and other crypto currencies worth ₹ 47.64 lakh were traced and freezed. Apart from this, ₹ 5.47 crore found in the bank account of Khan and his accomplice was also freezed by the agency. During investigations conducted under PMLA, an amount of ₹ 51.16 crore has been seized so far in total in the case. Further investigation in the matter is on. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/spicejet-to-suspend-sikkim-operations-from-oct-30-due-to-operational-constraints/articleshow/95001946.cms">SpiceJet to suspend Sikkim operations from Oct 30 due to operational constraints</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/diwali-celebrations-begin-at-times-square-vp-kamala-harris-and-former-prez-donald-trump-to-attend/articleshow/95001470.cms">Diwali celebrations begin at Times Square: VP Kamala Harris and former Prez Donald Trump to attend</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/zerodhas-co-founders-nithin-and-nikhil-kamath-donate-100-crore-in-fy22/slidelist/94991823.cms">Zerodha’s co-founders Nithin and Nikhil Kamath donate ₹100 crore in FY22</a>

ED freezes Bitcoins worth Rs 7.12 crore in E-nuggets gaming app case

<ul class="summary-list"><li>A new <keyword id="1268253" type="PERSON" weightage="60" keywordseo="Robinhood">Robinhood</keyword> service will allow investors to purchase shares at the <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> price before listing.</li><li>It will allow day traders to invest in IPOs alongside institutions and wealthier investors.</li><li>Robinhood is aiming for its own public listing in late June.</li></ul>The <a href="https://markets.businessinsider.com/news/stocks/robinhood-ipo-files-confidentially-in-us-new-report-says-2021-3-1030238433?utm_source=markets&amp;utm_medium=ingestgest">investing app Robinhood</a> is rolling out a service that it says will democratize initial public offerings for everyday investors.The service, called IPO Access, launched Thursday and will roll out to all customers over the coming weeks, according to a <a href="https://blog.robinhood.com/news/2021/5/20/ipo-access-is-here">press release</a>. The app will allow Robinhood users to buy shares of companies at the IPO price, before the stock starts trading on the open <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>."Most IPO shares typically go to institutions or wealthier investors," Robinhood said in its release. "With IPO Access, everyday investors at Robinhood will have the chance to get in at the IPO price" with no account minimums."Here's to democratizing IPOs for all!" the release said.Robinhood - which had 13 million users at the end of 2020 - said the service would allow investors to discover upcoming IPOs, read financial documents, request to buy shares at the initial listing price range, and then edit or cancel the request when the final price is set. The company said IPO shares "can be very limited" but all Robinhood customers could get an equal shot at them.The <a href="https://www.reuters.com/article/figs-ipo/medical-scrubs-maker-figs-aims-for-over-3-bln-valuation-in-u-s-ipo-idUSL3N2N732M">medical scrubs-maker Figs Inc.</a> will be the first company to offer shares to Robinhood. <a href="https://sec.report/Document/0001193125-21-167195/">In its IPO filing</a>, the company said it would offer up to 1% of its stock to traders on the app.Read more: <a href="https://www.businessinsider.com/millennial-investing-tips-outlook-robinhood-of-india-founder-nikhil-kamath-2021-5">Nikhil Kamath became a 34-year-old billionaire as the founder of the 'Robinhood of India.' He told us why millennials and Gen Zers have an investing edge over their predecessors and shared his advice for retail traders.</a>The popular trading app is planning to reveal <a href="https://markets.businessinsider.com/news/stocks/robinhood-ipo-next-week-june-trading-debit-public-market-offering-2021-5-1030443330">filings for its own IPO</a> as soon as next week after confidentially filing for one in March. The company is hoping to make its public debut in late June, according to a <a href="https://www.bloomberg.com/news/articles/2021-05-18/robinhood-said-to-plan-to-reveal-ipo-filing-soon-as-next-week?srnd=premium&amp;sref=BWbpWjRmWjRm">report from Bloomberg</a>. Robinhood declined to comment to Insider about its IPO. Companies have been going public at a record pace since last year. Among the hundreds of businesses that have gone public are the dating-app <a href="https://www.businessinsider.com/bumble-stock-price-ipo-market-debut-dating-app-offering-bmbl-2021-2">Bumble</a>, vegan milk-supplier <a href="https://markets.businessinsider.com/news/stocks/oatly-stock-price-ipo-10-billion-valuation-plant-based-milk-2021-5-1030452000">Oatly</a>, home-sharing site <a href="https://www.businessinsider.com/airbnb-ipo-stock-offering-price-filing-abnb-trading-debut-nasdaq-2020-12">Airbnb</a>, and food-delivery service <a href="https://www.businessinsider.com/doordash-stock-price-ipo-public-trading-debut-nyse-dash-offering-2020-12">DoorDash</a>. The rise in public listings, according to one Insider analysis, has been <a href="https://www.businessinsider.com/why-ipo-pop-performance-airbnb-doordash-valuation-bubble-stock-trading-2020-12">partly fueled by day traders</a> using apps such as Robinhood.Robinhood <a href="https://markets.businessinsider.com/news/stocks/robinhood-removes-gamestop-amc-reddit-wallstreetbets-fueled-stock-rally-gme-2021-1-1030015292">came into the spotlight</a> this year when Reddit day traders caused <keyword id="363661" type="COMPANY" weightage="60" keywordseo="GameStop">GameStop</keyword>'s share price to skyrocket, forcing a squeeze on short-sellers. The app, which has been criticized for making investing <a href="https://africa.businessinsider.com/finance/robinhood-may-dump-a-popular-confetti-animation-as-critics-say-the-app-turns-trading/b1dwdfk">too game-like</a>, came under scrutiny by users and <a href="https://www.businessinsider.com/congress-gamestop-stock-hearing-robinhood-reddit-citadel-what-happened-2021-2">even Congress</a> when it paused trading for GameStop and other meme <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword>.

Robinhood has unveiled a new service that will allow investors to buy a company's stock at its IPO price, before it hits the open market

<ul class="summary-list"><li>US stocks fell sharply on Wednesday as investor worries over overheating inflation persisted.</li><li>Tech stocks and cryptocurrencies were hit especially hard, with bitcoin dropping to as low as $30,017.</li><li>The Fed's minutes out later today could provide clues into how central bank officials define "transitory" inflation.</li></ul>US stocks fell sharply on Wednesday as tech names led losses amid mounting concerns around overheating inflation and global coronavirus cases.It was also a rough morning for cryptocurrency investors. Bitcoin fell as much as 31%, to $30,016.83. <a href="https://markets.businessinsider.com/currencies/bnb-usd">Binance Coin</a> fell 38% to $322.03, <a href="https://markets.businessinsider.com/currencies/doge-usd">dogecoin</a> fell 43% to 28 cents, and Ethereum's <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a> fell 39% to $2,094.Later today the Fed publishes minutes from its April Meeting. It could provide clues to officials' views on the economic recovery and further details on how they define "transitory" inflation. "Growth remains robust and there has been no material change to the bullish narrative," said Craig Johnson, Piper Sandler's chief market technician. "We suspect economic uncertainty and volatility could remain high over the coming months and temporary pull the bulls' foot off the gas as they wait for validation of the Fed's transitory inflation forecast." Here's where US indexes stood shortly after the 9:30 a.m. ET open on Wednesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingestm=ingest">S&amp;P 500</a>: 4,071.73, down 1.4%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingestgest">Dow Jones industrial average</a>: 33,645.34, down 1.2% (415 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingestgest">Nasdaq composite</a>: 13,115.17, down 1.4%</li></ul>Read more: <a href="https://www.businessinsider.com/millennial-investing-tips-outlook-robinhood-of-india-founder-nikhil-kamath-2021-5" target="_blank" rel="noopener">Nikhil Kamath became a 34-year-old billionaire as the founder of the 'Robinhood of India.' He told us why millennials and Gen Zers have an investing edge over their predecessors and shared his advice for retail traders.</a>JPMorgan said in a Tuesday note institutional investors seem to be shifting away from bitcoin, and moving back into traditional <a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">gold, </a>a reversal of the trend seen over the past six months."It is not clear what is driving this shift," strategists led by Nikolaos Panigirtzoglou wrote. "Perhaps institutional investors are fleeing bitcoin as they see its previous two quarter uptrend ending and thus seek the stability of traditional gold away from the rapid downshifting of digital gold."Recent high-profile cyber attacks in which hackers demanded to be paid in<a href="https://markets.businessinsider.com/currencies/news/ransomware-cryber-attack-bitcoin-btc-cryptocurrency-regulation-sec-2021-5-1030445784">cryptocurrencies have also added to bitcoin's woes.</a><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingestgest">West Texas Intermediate crude</a> fell as much as 3.1%, to $63.44 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest">Brent crude</a>, oil's international benchmark, slid 2.9%, to $66.73 per barrel, at intraday lows.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingestgest">Gold</a> climbed as much as 0.9%, to $1,886.24 per ounce.

You Searched For "Nikhil Kamath" and got 11 results

Nazara Tech to raise Rs 100 cr from Kamath Associates, NKSquared

PTI

Zerodha’s co-founders Nithin and Nikhil Kamath donate ₹100 crore in FY22

Shiv Nadar tops philanthropy list, even as India’s most generous cut back after the pandemic

Bhakti Makwana

Zerodha has been growing 100% month-on-month during the lockdown without any direct marketing, Nikhil Kamath tells us how

Samarpita Banerjee

Robinhood could file for its IPO as soon as next week, new report says

Carla Mozée

Infosys to now allow moonlighting with prior permission, say sources

IANS

Rupee falls 12 paise to 82.91 against US dollar

PTI

10 things you need to know before the opening bell

Shalini Nagarajan

ED freezes Bitcoins worth Rs 7.12 crore in E-nuggets gaming app case

IANS

Robinhood has unveiled a new service that will allow investors to buy a company's stock at its IPO price, before it hits the open market

Natasha Dailey

Dow plummets 415 points as tech stocks get hit anew by inflation fears

Emily Graffeo

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