1. News
  2. Explained

Byju's to Raise More Money, Didi Chuxing May Invest in Oyo et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Sep 3, 2018 1:00 PM 2 min read


Wipro share price up 2.36% post announcement of Alight Solutions deal 

The company signed a $1.6bn 10-year deal with Alight Solutions; also completed the acquisition of Alight HR Services India.


Edtech start-up Byju's set to raise $200m-$300m, valuing it at $2.2bn-$2.4bn. Didi Chuxing may invest in OYO Rooms.

Byju's in conversation with General Atlantic and Temasek Holdings. Valuation from deal may be more than twice the value pegged during last round. Didi Chuxing may invest in OYO Rooms to expand the company's business in China. 


Direct tax collections grow by 6.6% during Apr-Jul vs. Budget target of 14.4%

Corporate taxes, in particular, grew only by 0.57%, lowest during this period in 7 years - even though corporations were budgeted to yield 10.5% more revenues overall this fiscal. Personal income taxes in period grow by 11.3%, a three year low during Q1.


Reliance Group rejects allegations of benefiting from Rafale offset orders

Says offset business from Dassault to amount to INR6,600cr vs. INR30,000cr as accused by opposition. Remainder INR23,400cr offsets will be discharged by other companies such as Thales, Safran and MBDA.


Global advertising giant WPP choses Mark Read as new CEO

Mr Read will take charge of the ad firm, under pressure from investors and clients to make the process of buying, creating, measuring the effectiveness of ads more transparent and simple - to compete against tech giants Facebook and Google.


President of US's largest group of labour unions, AFL-CIO, says a new NAFTA would need to include Canada

Richard Trumka, president of AFL-CIO, says his organization cannot support the trade deal between US-Mexico, calling it too vague. On Friday, US and Canadian negotiators failed to reach agreement to revamp a trilateral deal to replace the 1994 NAFTA pact.


To receive a daily summary of the key business news and our succinct End Of Day Wrap Ups directly on your phone, subscribe to our WhatsApp feed here.