Business News Highlights: Indices Reverse Trend, Sensex Ends Under 76,500, Nifty Slips Marginally
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Arthan Finance Raises Rs 50 Crore In Fresh Funding
Arthan Finance on Monday announced that it received fresh funding of Rs 50 crore from Incofin India Progress Fund and The Michael and Susan Dell Foundation. The firm issued a statement and said, "The funding will help Arthan Finance grow its assets under management (AUM), expand geographic footprint, and invest in advanced AI and ML-based underwriting systems."
Stock Market Closing Bell: Sensex Over 200 Points Down, Nifty Ends At 23,259
Domestic PV Retail Sales Slip 1 Per Cent In May: FADA
Domestic passenger vehicle retail sales declined by 1 per cent on a year-on-year (YoY) basis in May, due to the extremely high summer temperatures and election season, the Federation of Automobile Dealers Association (FADA) revealed on Monday. The association said that passenger vehicle registrations decreased to 303,358 units in May 2024, against 335,123 units registered in the same month a year earlier.
Read More : Passenger Vehicle Sales Drop 1% In May Amid Heatwave, Two-Wheeler Sales Rise
Olive Clocks 76 Per Cent Surge In Revenue In FY24
Hospitality management start-up, Olive, logged a 76 per cent jump in its revenue to Rs 51 crore in the 2023-24 fiscal year (FY24), against the revenue of Rs 29 crore in the 2022-23 fiscal year (FY23). The company, promoted by Embassy Group, attributed the growth to increasing demand for short and long term accomodation facilities.
Gensol Engineering Names New Independent Director
Gensol Engineering on Monday announced that it has received board approval to appoint Kuljit Singh Popli as an Independent Director for the firm for a period of five years. The appointment remains subject to shareholders' approval.
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