Page 46 - Info Edge News Today

Info Edge, the Indian job board, announced that Redstart Labs (India) Ltd., a wholly-owned subsidiary of the company, has agreed to invest approximately INR 9.89 million (USD 120,103) in India-based Brainsight Technology Private Limited.

FSN E-Commerce, the parent company of Indian fashion and beauty e-tailer Nykaa, has been downgraded from largecap to midcap category by the Association of Mutual Funds in India (AMFI) following a 42% drop in share price from its 52-week high. Nykaa was not the only firm downgraded to midcap, with Tata Elxsi and Info Edge among those also demoted. The market value of 100 stocks places them in the largecap category, while those ranked between 101 and 250 form the midcap category.

Punjab & Sindh Bank, Carborundum Universal, Bank of Maharashtra, FACT, Jindal Stainless, Rail Vilas Nigam, Bharat Dynamics and IIFL Finance may move from smallcap to midcap category

A total of 2,605 shares changed hands on the counter till time (IST).

The stock quoted a 52-week high price of Rs 4624.35 and a 52-week low of Rs 3310.0.

VC funds are likely to ask for revenue recognition clarity and regular audit reports. And they will likely prod founders to hire independent directors.

A total of 2,753 shares changed hands on the counter till time (IST).

On the technical charts, the RSI of the stock stood at 61.48.

Early stage venture capital (VC) firm Arkam Ventures has launched a second fund with a target corpus of $180 Mn.

Instances of financial irregularities, malpractices, and failure to adhere to corporate governance standards by startups have prompted institutional investors to ramp up due diligence, even before issuing the term-sheet, and insist on periodic financial reporting by portfolio companies.