Business News Highlights: Indices Reverse Trend, Sensex Ends Under 76,500, Nifty Slips Marginally

Arthan Finance, a leading financial firm, has recently secured a fresh funding of Rs 50 crore from Incofin India Progress Fund and The Michael and Susan Dell Foundation. This funding will enable Arthan Finance to enhance its assets under management, expand its geographic footprint, and invest in advanced AI and ML-based underwriting systems.

The announcement of this funding comes at a time when the stock market witnessed a downward trend, with the Sensex closing over 200 points down and the Nifty ending at 23,259. Additionally, domestic passenger vehicle retail sales slipped by 1% in May, according to the Federation of Automobile Dealers Association (FADA).

On a positive note, Olive, a hospitality management start-up, reported a significant surge in revenue, recording a 76% increase in FY24. Similarly, Kronox Lab Sciences made a successful listing debut with a 21% premium on its shares.

In other news, JSW Energy has commenced the development of a 1 gigawatt hour battery energy storage system project in Rajasthan, aiming to commission the project by June 2025. Meanwhile, the Indian rupee depreciated by 10 paise to 83.50 against the US dollar in early trade on Monday.

Overall, the business landscape is witnessing a mix of challenges and opportunities, with companies like Arthan Finance and Olive showcasing growth and innovation amidst market fluctuations. Stay tuned for more updates on the evolving business news scenario.