Telegram Faces Fire, Ola Electric’s Sorrows, Mamaearth Rides High and more

Telegram is facing scrutiny for alleged betting and extortion on its platform, while Ola Electric shares are sliding, marking their third consecutive loss. On the flip side, Mamaearth’s stock is on a high, soaring 15% to a record peak and pushing its market cap beyond $2 billion. Meanwhile, Om Logistics is expanding with a ₹110 crore acquisition of an ICD in Haryana, and Velocity is setting the stage for festive season success with a new ₹400 crore fund to boost D2C brands.

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What Matters

“Daal Mein Kuch Kaala Hai”: Telegram Under Lens Over Alleged Betting & Extortion On The Platform

Telegram finds itself under scrutiny as the Indian Cyber Crime Coordination Centre (I4C) and the Ministry of Electronics and Information Technology (MeitY) investigate allegations of extortion and gambling on the platform.

This development comes hot on the heels of Telegram CEO Pavel Durov's arrest at a Paris airport, accused of enabling criminal activities like money laundering and drug trafficking through the app. In a statement on X, Telegram fired back, calling it "absurd" to hold a platform or its owner responsible for its misuse by bad actors.

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“Aapne Ghabrana Nahi Hai”: Ola Electric Shares Fall 6% Intraday, Marking Loss For Three Straight Sessions

Ola Electric shares took a hit, plunging 6% in intraday trading on the BSE, extending their losing streak to three consecutive sessions. By 1:25 PM, the stock was trading at INR 120.90, down 4.2% from its previous close of INR 126.21.

Despite this dip, the Bhavish Aggarwal-led company's market cap remains at a hefty INR 53,675 crore.

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“Bas Badhe Chalo”: Mamaearth Shares Jump 15% To Reach All-Time High, M-Cap Surpasses $2 Bn

Mamaearth shares soared nearly 15% in intraday trading, reaching a new all-time high of INR 528.9 on the BSE, pushing the company's valuation past the $2 billion mark.

This surge in buying interest followed the NCLT's approval of a merger scheme between Honasa Consumer Limited, Mamaearth's parent company, and its two subsidiaries. Investors are buzzing as the brand continues to expand its market footprint.

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“Hukumat Ki Jung”: Om Logistics acquires ICD in Haryana for Rs 110 cr

Om Logistics has made a strategic move by acquiring the Inland Container Depot (ICD) in Bawal, Haryana, for Rs 110 crore. This acquisition is set to boost the company's pan-India operations, promising faster transit times and streamlined supply chain management.

With this expansion, Om Logistics is gearing up to enhance its service efficiency across the country.

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“Ab Aayega Mazaa”: Velocity launches Rs 400 Cr festive season fund for D2C brands

Velocity is kicking off the festive season with a bang, launching a Rs 400 crore ($48 million) fund to fuel D2C and e-commerce brands ahead of the holiday sales rush.

Following last year's Rs 250 crore festive fund, this new boost will help brands on major platforms like Amazon, Flipkart, and Myntra, as well as quick commerce platforms like Blinkit and Zepto, to expand inventory, speed up deliveries, and tap into premiumization trends

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1. Noida-based proptech startup HouseEazy has secured $7 million in Series A funding from Chiratae Ventures, Alteria Capital, and Antler. The fresh capital, a mix of debt and equity, will fuel its expansion in the real estate technology sector.

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2. Yubi Group, the digital lending unicorn, has raised INR 250 crore ($29.8 million) through an equity infusion from its founder and CEO, Gaurav Kumar. The funding, approved by the board earlier this month, aims to bolster Yubi's growth in the fintech sector.

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3. Eruditus is in advanced discussions to raise $150 million in a new funding round led by TPG, targeting a valuation of $2.3 billion. This marks a 28% drop from its previous valuation of $3.2 billion in 2021, when it joined the unicorn club.

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4. Fintech giant PhonePe has achieved profitability with an adjusted profit after tax of ₹197 crore for FY24, a significant turnaround from last year's ₹738 crore loss. The company's revenue also surged by 74% to ₹5,064 crore, marking robust growth.

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