Wednesday, August 28, 2024

Billionaire Raamdeo Agrawal picks up stake in IPO-bound Swiggy, Zepto

This news highlights Agrawal's growing interest in emerging businesses, particularly as the quick commerce sector experiences significant momentum in fundraising. According to an ET report, the family office of Bollywood superstar Amitabh Bachchan has also acquired a small stake in Swiggy. This was done by purchasing shares from the food delivery and quick-commerce company's employees and early investors, indicating continued confidence in the sector's potential.

from Economic Times https://ift.tt/iVnfKoS

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US equities end lower as valuation concerns creep in

U.S. stocks closed lower on Wednesday as investors took profits amid concerns about high valuations flagged by Fed Chair Powell. The market ...