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Sensex rises 240 points, ICICI Bank shares top gainers

Leading stock index Sensex climbed over 240 points in early trade on Monday led by gains in ICICI Bank, TCS and Reliance Industries amid strength in global markets. During this period, the 30-share BSE index was trading 241.95 points or 0.46 per cent higher at 52,628.14, while the broader NSE Nifty rose 81.65 points or 0.52 per cent to 15,771.45.

(New Delhi) Flipkart raises $3.6 billion from GIC, SoftBank, Walmart, others
New Delhi, 12th July. Flipkart Group said it has raised USD 3.6 billion (approximately Rs 26,805.6 crore) led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund II and Walmart.

The company said it was valued at US$37.6 billion in this round of funding.
Flipkart, which is competing with Amazon, Reliance Jiomart and others in the fast-growing Indian e-commerce market, said it will continue to invest in employees, technology, supply chain and infrastructure.

Sovereign fund DisruptAid, Qatar Investment Authority, Khazana National Berhad as well as marquee investors Tencent, Vilhubi Capital, Antara Capital, Franklin Templeton and Tiger Global participated in the current round of funding.

Flipkart said in a statement that the group was valued at $37.6 billion (approximately Rs 2.79 lakh crore) in this round of investment.

Kalyan Krishnamurthy, CEO, Flipkart Group, said, “This investment by leading global investors reflects their belief in the potential of digital commerce in India and Flipkart’s ability to maximize this potential for all stakeholders. . We will focus on accelerating the growth of millions of small and medium Indian businesses, including grocery.

He added that Flipkart will continue to invest in new categories and leverage India-made technology to transform consumer experiences and develop world-class supply chains.