Apna becomes India’s fastest unicorn with Tiger Global-led $100 million funding
Apna, a digital hiring startup that connects blue-collar workers to employers, has reached $1.1 billion valuation after it raised $100 million in a Tiger Global-led funding round. Apna has reached unicorn status in less than two years after creating the app, making it the fastest Indian startup to do so. The startup was founded by former Apple executive Nirmit Parikh.
GST Council likely to treat food delivery apps as restaurants, levy 5% tax
GST Council is likely to discuss a proposal to treat food delivery apps such as Zomato and Swiggy as restaurants and levy 5% GST on supplies made by them, an official told PTI. If approved, the apps will collect and deposit GST with the government, in place of restaurants. There would be no extra burden on end consumers, report said.
Sensex hits record 58,900, Nifty surges to all-time high of 17,577 in opening trade
The Indian benchmark indices opened at fresh record highs a day after the government announced relief measures for the telecom sector. Sensex jumped more than 150 points to cross 58,900 during early trade, while the Nifty 50, which also saw minor gains, surpassed 17,550 levels to hit 17,577. ITC, IndusInd Bank and Bajaj Auto were among the top Sensex gainers.
Investors’ wealth rises by ₹3.35 lakh crore in 2 days of market rally
Investors’ wealth has increased by ₹3.35 lakh crore in two days of market rally, with market capitalisation of BSE-listed companies surging to over ₹259 lakh crore. Sensex jumped 476.11 points to close at its all-time high of 58,723.20, while Nifty rose 139.45 points to record 17,519.45. NTPC was the biggest gainer, rallying 7.16% to close at ₹124.2.
Tata Sons, SpiceJet promoter Ajay Singh submit bids to govt to buy Air India
The government received financial bids for buying Air India, including bids from Tata Sons and SpiceJet promoter Ajay Singh. The government is seeking to sell 100% of its stake in Air India, including Air India’s 100% shareholding in AI Express and 50% in Air India SATS Airport Services. September 15 was the last day for putting in bids.