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Tuesday, May 02, 2017

May 2, 2017 - Logistics start-up Fortigo raises $10 million in Series A funding

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Sree Vijaykumar
Sree Vijaykumar
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"I'm no genius. I'm smart in spots - but I stay around those spots." - Tom Watson Sr., Founder of IBM. The concept of the Circle of Competence has been used over the years by Warren Buffett as a way to focus investors on only operating in areas they knew best. What an investor needs is the ability to correctly evaluate selected businesses. Note that word "selected": You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital. It does not hurt to have a narrow area of competence. In fact, one could argue the opposite. Rigid devotion to that area allows one to focus. Such focus can help you achieve extreme success. More here

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Logistics start-up Fortigo raises $10 million in Series A funding

Logistics start-up Fortigo has raised the funds from investors Accel Partners and Infosys co-founder Nandan Nilekani to expand its current network of trucks

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Xander, APG buy Shriram’s Chennai IT SEZ for $350 million

Shriram Properties, which owns the Chennai IT SEZ with SUN-AREA, will complete the development of the special economic zone and hand it over to Xander Group

Sebi plans to give up powers to regulate ponzi schemes

Sebi has decided to relinquish powers to regulate collective investment schemes, or Ponzi schemes, after failing to successfully close even a single case

Actis to invest $500 million in green energy platform Solenergi

Actis Llp’s $500 million investment in Solenergi is aimed at taking advantage of India ‘s growing renewable energy economy

Housing projects see fall in private equity investments in 2 consecutive quarters

Data show that residential housing got Rs.3,326 crore of investment in the first quarter of 2017 compared with Rs. 5,725 crore in the preceding October-December quarter.

RBI cannot escape responsibility for banks' bad loans: employees' body

The All India Bank Employees Association on Monday said the Reserve Bank of India c

Private, PSU banks to take cue from SBI in lowering deposit rates

Some private banks such as ICICI Bank and Axis Bank as well as some PSU banks like Bank of Baroda and Punjab National Bank will follow SBI in lowering their deposits rates.

Salary rises for top mutual fund CEOs

Some smaller mutual fund houses have paid higher salaries to their CEOs and CIOs than their bigger rivals despite making losses or marginal profit

Domestic private equity investments rising; this year may set new benchmark

Domestic PE investment is rising and stood at USD 3.41 billion last year and crossed the peak of USD 3.3 billion set in 2007

No logic behind low credit rating for India: Deepak Parekh

Critical of rating agencies for giving India the lowest investment grade rating, eminent banker Deepak Parekh has wondered how a country with such “strong fundamentals” on both economic and political

India should be a standard setter, not follower: Nirmala Sitharaman

The minister said technology will play a very critical role in standard setting and conformity assessment and there is a need to factor this in.

The runway for mid- and small-cap companies is long but it is not infinite

Anand Radhakrishnan on people investing in mid- and small-cap stocks, fund’s conservative approach, the Bharti Airtel bet, and more

IBA invites bank unions for wage revision talks

All India Bank Employees Association today flayed RBI Deputy Governor Viral Acharya's remarks that it was time to re-privatise some nationalised banks.

No logic behind low credit rating for India: HDFC's Deepak Parekh

Critical of rating agencies for giving India the lowest investment grade rating, eminent banker Deepak Parekh has wondered how a country with such "strong fundamentals" on both economic and political fronts can be rated so low.

Bank accounts to be blocked: Full impact of FATCA to be known on Tuesday

This would only be after banks across the country commence functioning on May 2

Why the gold monetisation initiative is failing to enthuse Indians

Low returns, lack of awareness and a fetish for hoarding the yellow metal in the country seem to have led to the tepid response to the gold monetisation initiative

Will RBI walk the talk on banks consolidation?

Talks on mergers and consolidation of state-run banks have revived due to the Rs7 trillion bad loans problem in the Indian banking system

Kotak Mahindra Bank’s Phoenix ARC plans to buy big-ticket bad loans

Kotak Mahindra Bank-promoted Phoenix ARC’s CEO Eshwar Karra, says RBI’s new provision rules will force banks to put up more stressed assets for sale

Retailers seek two-month extension window for GST compliance

The retailers requested this extension window as for them order placement for the next quarter has already being commenced and they are not in a posit..

Nestle looks to bring some global brands to India

The strong and unrelenting efforts across all parts of the organisation led to an unprecedented over 30 new products and variant launches across almos..

Himalaya aims Rs 1000 cr turnover from baby, mom care products

The company, which reported Rs 500-crore turnover from its babycare portfolio last fiscal, recently opened its first exclusive 'moms & babies' shop in..

FOOD freshly enters India, to launch sliced fresh fruits soon

The joint venture is named FOOD freshly India.

Apple set to make its online store debut this year

Apple plans to differentiate its online store in India from marketplaces like Amazon and Flipkart by offering various value-added services to customers.

Government may allow foreign food retailers to sell India-made personal care product

The move could usher in major reforms in Indias FDI regime and spark a further easing of rules to allow overseas companies to sell locally made goods.

Amazon's moves beyond retail get Wall Street thumbs up, for now Inc's ventures far beyond online retail, from cloud computing to movie making, are raising questions among corporate strategy experts about its focus.

Chili's to open 5 outlets; targets Rs 100 cr sales in FY18

Mumbai, Apr 30 (PTI) Casual dining chain Chili's American Bar and Grill plans to open five new outlets and clock Rs 100 crore sales by the end of this fiscal. -

Government mulls alternative technology to phase out telecom towers

Trai is examining the feasibility of dispensing cell phone towers by replacing them with underground cables.

Revenue of Indian telecom operators to reach $63 billion by 2026

The main reasons behind the boost in revenue would be due to population growth, increased penetration and high GDP growth.

Xiaomi to Oppo: How Chinese smartphone players have evolved in India

Companies like Huawei, Oppo and vivo are now offering premium-level smartphones with the best of features as well as mid-range ones to suit all tastes.

Xiaomi Is Now The Second Highest Selling Smartphone In India

Samsung still rules the roost, while Vivo is catching up.

Telecom Subscriber Base in India Touches 1.18 Billion in February, Says TRAI

The Indian telecom regulator on Monday floated a consultation paper seeking stakeholders' view on network testing before the commercial launch of services.

Secure India app: How to lock your stolen phone with just an SMS

As mobile phones become more and more powerful, and often substitute a desktop for many online activities, the issues of security and how to combat viruses become important.

Agri exports rise despite dip in buffalo meat, basmati shipments

Growth in fresh fruits, vegetables, non-basmati rice shipments compensate

Dabur India Q4 net profit flat at Rs 333.11 crore

Consolidated total income of the company declined 4 per cent to Rs 1,979.72 crore

Dabur re-appoints Anand C Burman as non-executive Chairman

Besides, Amit Burman has also been re-appointed as non- executive Vice Chairman of the company for the similar period.

Rice basmati weakens on sluggish demand : PTI feed, News

Rice basmati weakens on sluggish demand

When Ramdev quit govt school, fled home and joined gurukul!

Saraswati's book "Satyarth Prakash" had a deep impact on Ramdev.

PepsiCo ties up with HUL for 'career JV'

Mumbai: In a first of its kind learning and talent development initiative, PepsiCo India has entered into a 'career joint venture' with Hindustan Unilever (HUL), allowing select employees to gain work experience at the JV firm for 2-4 months.

Patanjali to wipe out MNCs from Indian market in 5 years: Yoga guru Ramdev

Comparing them to the East India Company that had entered the country with a purpose to "loot", Ramdev said that he aims to make India free from the MNCs.

Walmart Expands Again In India

India would make itself very much richer by junking the restrictions on foreign owned retail and thus allowing Walmart, and the others, to run riot through the economy. Given that consumer welfare is our aim they should thus do so.

Nestle looks to bring some global brands to India

The company said that its net sales gone up to Rs 9,159 crore in 2016 against Rs 8,123 crore in 2015

Drinks start-up Zago looks to fuel runners

The firm’s oats-shake contains proteins and is aimed at those who skip meals

Voonik, Truecaller collaboration to enhance customers' shopping experience

Fashion marketplace Voonik on Monday announced its partnership with leading communication platform Truecaller to allow a frictionless onboarding experience for new users on Voonik using their Truecaller credentials to one-tap sign up. -

Snapdeal: What led to the SoftBank-Snapdeal fallout

It’s been said that India may not have potable water or reliable electricity, but it has entrepreneurs. And 10 startups in the billion-dollar unicorn club.

ShopClues sharpens focus on fashion to hit profits

ShopClues, which focuses on value and mid-price segments, aims to hit overall profitability by the first half of 2018- 19.

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