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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The rise of operators like Halwasiya epitomises India’s current stock market boom led by unheard-of growth (or manipulation) in small, unheard-of stocks.
Aditya Halwasiya who?
The 29-year-old entrepreneur wasn’t exactly a name to be reckoned with in India’s business landscape until recently. In fact, his tryst with listed companies began in January last year when he bought a Rs 9.5 crore stake and earned a board seat at Apollo Micro Systems, a Hyderabad-based aerospace and defence equipment manufacturer. At the time, his biodata described him as a third-generation entrepreneur of the Kolkata-based Universal-Halwasiya group, which mostly deals in lubricants and oil and has a turnover of Rs 2,000 crore. Nothing to write home about, really.
But things heated up in September last …
The markets regulator has taken little by way of decisive action, with industry resistance and its own wait-and-watch approach getting in the way.
Falling revenue, mounting losses and stalled business lines make it increasingly hard for the payments bank to fund a costly lending buildout.
The region seems to be hyper-focused on boosting investor confidence in different markets; PIF’s new loan.
