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CAIT to campaign against ‘malpractices’ of e-commerce firms from Sept 15

Traders’ body CAIT has said that it will hold a nationwide campaign beginning September 15 against “malpractices of foreign-funded e-commerce firms” such as Amazon, Flipkart, others in India. “Despite having so many established policies, laws and rules…no concrete action has been taken against big e-commerce companies,” CAIT’s President BC Bhartia and Secretary General Praveen Khandelwal said.’

Cryptocurrency markets are ‘looking frothy’ again: JPMorgan

Cryptocurrency markets are “looking frothy” again, JPMorgan said in a note. Altcoin trading represents around 33% of the cryptocurrency market currently, up from 22% in August, it added. “Share of altcoins looks rather elevated by historical standards and…it’s more likely to be a reflection of froth and retail investor ‘mania’ rather than a reflection of a structural uptrend,” it added.

Musk says Tesla worth $3,000 a share ‘if we execute well’: Report

After ARK Invest’s CEO Cathie Wood estimated that Tesla will reach a base stock price of $3,000 in the next few years, the electric carmaker’s CEO Elon Musk reportedly told his employees in an email, “If we execute really well, I agree with ARK Invest.” In 2020, Tesla stock fell 12% after Musk tweeted, “Tesla stock price is too high.”

Barclays’ arm funded Jhunjhunwala’s Zydus Cadila deal: Report

Barclays’ arm funded billionaire investor Rakesh Jhunjhunwala’s recent acquisition of a stake in Zydus Cadila’s animal healthcare business, the Economic Times reported. Barclays’ arm bought out the entire ₹500-crore zero-coupon bond offering by Jhunjhunwala’s Rare Equity. Rare Equity issued non-convertible debentures (NCD) in two tranches, generating a yield of around 7.75% for Barclays, it added.

India world’s 3rd largest unicorn ecosystem with 51 unicorn startups: Hurun

India is the third-largest unicorn ecosystem in the world with 51 startups that are valued at $1 billion or above, according to Hurun India Future Unicorn List 2021. The USA is the world’s largest unicorn ecosystem with 396 unicorns, followed by China with 277 unicorns. Over the last year, India added three unicorns every month on an average, Hurun said.

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