As edtech platforms start bleeding in India, Unacademy, which recently laid off over 600 employees, has predicted a funding winter that can last as long as 18 months, saying it will cut costs wherever required to weather the dry spell and become profitable.

In a letter to employees, Unacademy's co-founder and CEO Gaurav Munjal said that "we must learn to work under constraints and focus on profitability at all costs".

Japanese lender MUFG Bank will establish a branch at the Gujarat International Financial Tec City (GIFT City) in Ahmedabad for foreign currency-denominated lending business. This will be its sixth branch in India.

MUFG can support its domestic as well as global clients with an expanded suite of financial services. At present it has presence in Mumbai, Delhi, Bengaluru, Chennai and Neemrana.

Grasim Industries Ltd, an Aditya Birla group company, is planning to raise upto Rs 2,000 crore through debentures to fund its capital expenditure programme.

The company has lined up investment for foray into decorative paints with project cost estimated at Rs 10,000 crore by FY25.

Pune-based energy distribution startup Repos Energy on Wednesday said it has raised Rs 56 crore from Tata Sons Chairman Emeritus Ratan Tata and other investors.

The fresh capital as part of pre-series A funding round is in combination of equity and debt, the company said.

Repos Energy, however, did not disclose the identity of the other investors.

After a thrilling win over Lucknow Super Giants in the Indian Premier League (IPL) Eliminator, Royal Challengers Bangalore captain Faf du Plessis was 'over the moon' and went on all praise for centurion Rajat Patidar for his outstanding performance against LSG.

Rajat Patidar starred for Royal Challengers Bangalore as they defeated Lucknow Super Giants by 14 runs in the Eliminator clash of IPL 2022 here at Eden Gardens in Kolkata on Wednesday.

Deepak Fertilisers on Wednesday reported a 144.30 per cent jump in consolidated profit after tax (PAT) at Rs 282.91 crore for the quarter ended March 2022.

The company's PAT stood at Rs 115.80 crore during the corresponding quarter of 2020-21, Deepak Fertilisers and Petrochemicals Corporation said in a BSE filing.

State-owned Power Finance Corporation (PFC) on Wednesday posted a nearly 10 per cent rise in the consolidated net profit at Rs 4,295.90 crore in the March quarter mainly on the back of higher revenues.

The consolidated net profit of the company was at Rs 3,906.05 crore in the year-ago period, a BSE filing showed.

The district administration of Dakshina Kannada on Wednesday clamped prohibitory orders in the surrounding areas of the Malali mosque near Mangaluru city.

Temple structure was found on April 21 during the renovation of the mosque, stirring a controversy. Following this, the court had ordered the mosque management to stop the work.

The rift between Samajwadi Party president Akhilesh Yadav and senior party MLA Mohd Azam Khan is now getting wider and meetings between Azam Khan and another estranged leader Shivpal are getting increasingly frequent.

Azam Khan was in Lucknow for two days but did not meet his party president. He went to the state Assembly for his swearing in but did not go inside the Vidhan Sabha to meet Akhilesh.

Gold on Wednesday became dearer by Rs 600 per 10 gms, with 24-carat gold trading at Rs 52,090. The rate of silver on Wednesday decreased by Rs 600 per kg to Rs 61,600.

The price of 10 grams of 22-carat gold went up by Rs 600 from the previous day's rate, with the metal trading at Rs 47,750, according to the Goodreturns website.

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