CoinSwitch Kuber’s valuation surges nearly four times to $1.9 billion, making the Bengaluru-based startup the 30th Indian unicorn so far this year. Coinbase Ventures has also participated in the largest funding round for an Indian crypto firm.
“ZEE has filed a plea to get an extension of time to file its response at NCLT and also wants appellate tribunal’s direction to stay on the hearing at the tribunal until this petition gets decided,†said two people aware of the development. “We are expecting NCLAT to hear the petition tomorrow itself.â€
All quarters of the market saw selling, led by metal and realty names, wiping off Rs 2.78 lakh crore of equity wealth reflected by the total market cap of BSE-listed companies.
“In our ongoing engagement with all the rating agencies we have been highlighting some of the important differences between advanced economies and a country like India which has organised and unorganised sectors. â€
“While we are going to make more money going forward, the markets themselves will be moving gradually. Of course, we will continue to be hostage to global factors as well.â€
The cryptocurrency fell below that level on September 7 amid a broader selloff in shares of cryptocurrency and blockchain related firms that day. It continued to fall in September, hitting a low of $40,596 on September 21.
The meeting comes a day after Rakesh Jhunjhunwala met Prime Minister Narendra Modi on Tuesday.
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The stock has delivered 120 per cent return in the last one year and around 326 per cent from March 2020 lows.
The high conviction bet by PPFAS is contrary to market’s view on the stock, as the scrip has been flat so far year to date against more than 25 per cent gain in the benchmark Nifty50 index.
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