OLA ELECTRIC FUNDING
MeitY probes physical AI data use; Nvidia CEO Jensen Huang resigns
MeitY is reviewing the practice of collecting first-person video and sensor data from gig workers to train physical AI models. This and more in today’s ETtech Top 5.
Demand no longer a constraint: Ola Electric's Bhavish Aggarwal on Q2 earnings call
The bottleneck is not Ola's own plant, which Aggarwal said in his post already has high installed capacity, but its suppliers. About 5,000 vehicles with paid orders in September were delayed by a week into October because chargers were unavailable.
Lenskart, Meesho deliver gains of nearly $400 million for SoftBank Vision funds
Lenskart saw returns of $273 million, the highest among the Vision funds' listed investments, while Meesho gained $121 million, according to SoftBank's earnings presentation released on Tuesday. The gains come as SoftBank continues to monetise its Indian investments, having sold shares worth more than Rs 9,300 crore in Lenskart and Meesho since June.
Stocks in news: Tata Power, Cupid, Garden Reach, ITC, Aurobindo Pharma and Vodafone Idea
Indian benchmark indices have extended their winning streak, closing positively after the Muhurat trading session. Key stocks such as life insurance companies and Tata Power reported notable quarterly earnings results. HDFC Life and LIC showed healthy premium growth, while Tata Power recorded a record profit in Q2 FY27. Other companies like Cupid and Mishra Dhatu Nigam also reported impressive profit increases during the quarter.
UPI sees Diwali boom; AI cracks Captcha
Diwali spending fuelled a surge in UPI transactions, with both payment volumes and values rising. This and more in today’s ETtech Top 5.
ET Prime Special Series: Multibagger or IBC – Part 84: Can rising demand for decorative features drive this auto ancillary's growth?
A car can change its engine and still look almost the same. It can also keep the same engine and look so different that buyers happily pay more for it. That is the peculiar corner of the automobile industry this story explores. For one listed supplier, the shift to EVs may be less threatening than it sounds. The bigger question is whether changing consumer preferences can help it build a more valuable business.
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Ahead of Market: 10 things that will decide stock market action on Wednesday
Indian equities rallied nearly 2%, with Sensex gaining 1,225 points and Nifty rising 370 points. Falling crude prices, renewed FII buying, resilient earnings and expectations of LTCG tax changes boosted sentiment, adding nearly Rs 4 lakh crore to market capitalisation.
Fintechs fortify cyber defences; Logistics cos in the speed lane
Happy Monday! Fintechs are stepping up security as AI-powered cyberattacks become more sophisticated. This and more in today’s ETtech Morning Dispatch.
Ola Electric’s Rs 1,000-crore rights issue fully subscribed ahead of closing date
The rights issue, which opened on Thursday, will close on October 30. Shareholders could sell or transfer their rights entitlement in the market until October 26. The company finalised the terms of the issue earlier this month, setting the price at Rs 27 per share, a 26% discount to its market value.
byteXL strengthens leadership team to fuel AI and skilling push
byteXL has appointed four senior executives across operations, business, strategy and finance as it prepares to scale its institutional network from 40 to 120 colleges and reach 500,000 students over the next two years. The company is also expanding programmes in AI, GCCs, electric vehicles, semiconductors and precision engineering as it shifts towards a deeper technology focus.
Cognizant eyes Sarvam stake; Ather aims for higher market share
Happy Wednesday! Cognizant has held discussions to invest in homegrown AI startup Sarvam. This and more in today’s ETtech Morning Dispatch.
Practo founder’s Cent raises $15 million from Blume Ventures, South Park Commons
The round, comprising equity and debt, comes nearly eight months after the Bengaluru-based company raised an undisclosed amount from South Park Commons and OneFlow Holdings, Shashank’s family office. Cent did not disclose its valuation or the equity-debt split.
Broader markets crash! Small, midcap indices tumble up to 4%. Why analysts are sounding the alarm
Smallcap and midcap stocks plunged up to 4% on Friday, extending a sharp weekly selloff as analysts warned that valuations remain difficult to justify. The Nifty Smallcap 250 index has fallen around 8% this week, while the Nifty Midcap 100 is down 6%, despite a resilient earnings growth outlook.
Swiggy narrows loss in Q2; eMudhra cofounder on what went wrong
Happy Friday! Swiggy reported a rise in revenue in Q2 FY27 while cutting its losses. This and more in today’s ETtech Morning Dispatch.
E-bike startup Ultraviolette targets 10,000 monthly sales by 2027-end
E-scooters account for close to 20% of new scooter sales in India, while electric motorcycles make up less than 1% of new motorcycle sales, he added. He expects electric motorcycle adoption to pick up as more manufacturers introduce products, similar to the increase seen in e-scooter penetration over the past three years.
Swiggy’s Q2 report card; eMudhra to exit certificate biz
Swiggy continued on its growth trajectory while bringing down losses in Q2FY27. This and more in today’s ETtech Top 5.
10-minute househelp startups & their crore-sized losses
Latest financials reported by Snabbit and Urban Company on Friday point to heavy cash burn in the race to deliver household services within 10 minutes. This and more in today’s ETtech Top 5.
Ahead of Market: 10 things that will decide stock market action on Tuesday
Indian benchmark indices reversed early gains on Monday, with the Sensex falling 548 points and the Nifty closing below 22,400 amid persistent FII selling, rising bond yields and geopolitical concerns. Investors will track key stocks, global cues, crude oil prices, inflation data and earnings expectations for Tuesday’s market direction.
Stocks in news: TCS, Adani Enterprises, Ola Electric, HCL Tech, Tata Power and Varun Beverages
Indian equities fell as the Reserve Bank of India increased the repo rate by 25 basis points. The Nifty 50 closed down 0.76%, facing resistance at the 22,800 level. Key corporate developments regarding Adani Enterprises, Tata Consultancy Services, Ola Electric, and HCL Tech will be in focus. Other companies like Jubilant FoodWorks and Bank of Baroda also reported significant updates.
Startup of the Year Groww bets on scale; Qcomm sparks festive credit surge
Happy Thursday! Groww is betting its newer businesses will take a bigger slice of its income. This and more in today’s ETtech Morning Dispatch.
Two-wheeler maker Ola Electric fixes Rs 1,000 crore rights issue at Rs 27 per share
The company’s board approved the terms on Wednesday, a week after it had announced plans to raise up to Rs 1,000 crore through a rights issue without finalising the price and other key terms.
Ola Electric board approves rights issue at 26% discount; shareholders to pay in two calls
Ola Electric has announced a rights issue price of Rs 27 per share, significantly below its market value, aiming to garner up to Rs 1,000 crore. Investors will pay 60% of this amount upfront, with the remainder due later. Chairman Bhavish Aggarwal intends to fully subscribe to his portion, using a pledged stake. This funding could ease debt burdens and assist the company in achieving cash breakeven.
Trev plans 2,500-vehicle premium EV fleet by 2031, raising $2 million
Aiming to elevate its electric vehicle fleet from 105 to 300 by the close of the financial year, Trev Mobility is in the process of raising $2 million, having almost reached $1 million in funding thus far. With its fleet comprising deluxe electric vehicles, Trev offers distinct services outside mainstream ride-hailing markets.
Menlo Ventures on AI slowdown; Ola Electric CEO pledges stake
Happy Monday! Menlo Ventures, an early Anthropic backer, says the real AI constraint is compute, not a slowdown in frontier models. This and more in today's ETtech Morning Dispatch.
Listed startups unlock Rs 25,000 crore for VC, PE investors
An ET analysis of National Stock Exchange (NSE) and BSE block and bulk deal disclosures across 18 new-age companies shows sales by investors including Japan’s SoftBank group and venture capital firms Peak XV Partners, Elevation Capital and Accel.
Ola Electric promoter Bhavish Aggarwal pledges 4.32% stake to fund rights issue
Last week, Ola Electric’s board approved a rights issue of partly paid-up equity shares to raise up to Rs 1,000 crore. The board is yet to finalise key terms of the issue, including the total number of shares, issue price, timing and payment terms.
Ahead of Market: 10 things that will decide stock market action on Monday
Sensex and Nifty extended losses for a fourth session as heavy FII selling, surging bond yields and elevated crude prices rattled investors. The selloff erased Rs 5 lakh crore in market value, while analysts advised long-term investors to accumulate gradually.
Investors’ bets on Ola shrink as EV, ride-hailing businesses lose ground
As competition intensifies, SoftBank Group and fellow investors in Ola are grappling with a substantial reduction in their holdings' valuations. Ola Cabs is increasingly losing ground to competitors like Rapido and Uber, alongside a notable decline in Ola Electric's electric two-wheeler market share. While the company confronts financial hurdles and operational setbacks, a number of investors successfully realized returns through strategic share sales prior to value drops.
Piyush Goyal to headline ET Startup Awards; The Souled Store eyes fundraise
Happy Tuesday! Meet our distinguished guest of honour for The Economic Times Startup Awards 2026. This and more in today’s ETtech Morning Dispatch.
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