Sensex crosses 80,000📊
Global firms buy PB Fintech stakes, Zomato gets approval for Esop plan, Nithin Kamath sees the end of road for zero brokerage, Funding Deals and more.
Welcome to Wednesday’s edition of Rise & Shine!
“Don’t worry about failure; you only have to be right once.”
- Drew Houston
Today, Houston’s quote encourages us to embrace the possibility of failure, focusing instead on the transformative power of a single success.
Tech Updates
Sensex tops 80,000 mark for the first time, Nifty 50 edges toward 24,300
Continuing their unstoppable rally, Indian benchmark indices achieved new historic milestones in early morning trade today. The S&P BSE Sensex surpassed the 80,000 mark for the first time to reach the 80,039 level, while the Nifty 50 reached a fresh all-time high of 24,292, approaching the 24,300 level. The rally was largely supported by heavyweights, with HDFC Bank leading the charge.
Global firms buy PB Fintech stakes from early backers
Foreign portfolio investors (FPIs) have lapped up shares in Gurugram-based listed fintech firm PB Fintech, as its founders and early investors sold their shares in multiple tranches, in full or in part. Large global investors like T Rowe Price, Capital Group, and Vanguard Fidelity have acquired stakes in PB Fintech, the mothership that runs the insurance marketplace Policybazaar and the credit marketplace Paisabazaar.
Zomato gets shareholder approval for Esop plan; ends pursuit of NBFC license
Zomato has received shareholders’ approval to expand its employee stock options plan (Esop) and has withdrawn its application for a non-banking financial company (NBFC) license, it said in two separate filings with stock exchanges.
Zerodha’s Nithin Kamath sees the end of road for zero brokerage model after new Sebi rules
Bengaluru-based stock broker Zerodha could return to charging customers for equity trade deliveries as a direct consequence of market regulator Securities and Exchange Board of India’s (Sebi) July 1 circular on charges levied by market infrastructure institutions.
Funding Deals
Health-tech startup Watch Your Health has raised $5 million in a Series A round co-led by Cornerstone Ventures and Singapore-based Conquest Global.
Two-wheeler financing and e-commerce platform Bike Bazaar has raised Rs 25 crore (approximately $3 million) in debt from MAS Financial.
Fabriclore, a tech-enabled fabric-sourcing platform for fashion businesses, has raised $1.6 million in a new round led by PeerCapital and Regal Fabrics.
Wellness brand Amocare has secured $400,000 in a pre-seed funding round co-led by FAAD Network and AngelBay Holdings.
Direct-to-consumer (D2C) nutrition brand Supply6 has raised an undisclosed amount from former South African veteran cricketer AB de Villiers. The company has also onboarded him as the brand ambassador of the brand.
💡 Short Story: The Startup Success
In a small garage in Silicon Valley, two friends, Sarah and Mark, embarked on a journey to create a groundbreaking software company. They faced countless failures—crashed systems, lost data, and multiple investor rejections. Each setback seemed like a mountain they couldn’t climb.
But they held onto Drew Houston’s words: “Don’t worry about failure; you only have to be right once.” This mindset kept them going. They learned from each failure, tweaking their approach and refining their product.
After years of perseverance, they finally launched a version of their software that caught the eye of a major tech company. This one success transformed their lives, leading to an acquisition deal that made their startup an overnight success story. It wasn’t the numerous failures that defined them, but the single success that changed everything.
Tweet of the day🐥
As we go through our day, let’s remember that failure is just a stepping stone.
With each attempt, we get closer to that one success that can change our lives.
Embrace failure as a part of the journey and keep striving for that breakthrough moment.
Each quote and story is designed to uplift your spirit, motivate you to take action, and remind you that every day is a new opportunity for greatness.
Have a fantastic Wednesday, and keep pushing forward!
Thanks for reading till the end!