In the previous week, bulls were seen returning to the Comex after weeks
of directionless trading and mixed sentiments, with all base metals including
Aluminum (2.5%), Copper (2.7%), Lead (1.4%) , Zinc (2.2%) and Iron ore (1.7%)
ending in green and starting new possible uptrends. Precious metals, gold and
silver were no exceptions and both experienced significant buying pressure.
Gold and Silver prices showed an up move as interest in investing in
bullion as a hedge against inflation and possible correction in the equities
markets continued to increase amongst investors. All eyes are currently on the
US markets as Joe Biden has guaranteed increased expenditure on clean energy
and electric vehicles under the new stimulus. This is set to further benefit
the commodities prices as demand for base metals and bullion might increase.
The dollar and US bond yields, however, managed to hold firm, keeping pressure
Crude Oil prices continued with its sideways movement and remained range
bound throughout the past week. The volatility is the result of a few factors
like increased concerns related to renewed lockdowns in parts of the world to
curd rising Covid-19 cases, OPEC+ extending output cuts to April 2021 and
better-than expected economic forecast from Federal Reserve backed by vaccine
drives. The prices are expected to remain choppy in the coming week however a
bias might be on the downside owing to a higher supply and weakening demand
For the current week, we expect gold and silver to trade in sideways and
remain range bound throughout the week. Investors are advised to closely track
the USD-INR rates as a correction in dollar can act in the favour of bullion
prices and might lead to a new uptrend. Weakness in the Indian markets and a
selloff is also set to be positive for the prices. However, increasing US Bond
yields due to strong economic data and rising inflation can dampen this new
found momentum in the commodities market.
For the week, we expect gold in COMEX market to be in the range of $1696 to $1,823, while silver is expected to be in the range of $24.1 to $25.9. Whereas, for bullion market traders, we assume gold futures to trade in the range of 45,738 to 47,982.
Gurgaon based Real Estate Brokerage firm Square Yards, Founded in 2013 has acquired Chennai based PropVR, an AI-based platform specialising in creating digital property experiences using 3D technologies, virtual reality and augmented reality (VR and AR).
Square Yards is India’s largest integrated platform for Real Estate & Mortgages and one of the fastest growing Proptech platform in UAE, Rest of Middle East, Australia & Canada. Having footprints in 13 cities in India and 12 Countries across the globe. The deal marks Square Yards’ third acquisition in recent times. Last year, it acquired Azuro, a rentals and property management platform. Recently, it bought PropsAMC, a platform focused on data intelligence, asset management and real estate services.
CashRich Acquires WealthApp
Thane-based CashRich, founded in 2016 a financial-technology firm focused on the wealth segment, has acquired the mutual fund distributions business of WealthApp in an all-cash deal.
CashRich is an app where individuals can invest in mutual funds and buy insurance products easily. The acquisition will help CashRich strengthen its position as a prominent investment platform in the country.
CashRich says it also raised an undisclosed amount in equity funding from three United Kingdom-based investors to finance this acquisition. Following this, CashRich says its user base will reach two lakh, with the assets managed by WealthApp’s mutual funds segment being merged with its own. It is also exploring more acquisition opportunities.
acquires NEA-backed communications platform provider ValueFirst (International
San Francisco-Headquartered cloud
communication firm Twilio has acquired Gurugram based ValueFirst, one of
India’s leading Communications Platform as a Service (CPaaS) player. The
acquisition comes nearly a year after Twilio began operations in India.
Twilio has democratized communications channels like voice, text, chat, video, and email by virtualizing the world’s communications infrastructure through APIs that are simple enough for any developer to use, yet robust enough to power the world’s most demanding applications. Twilio has presence in 18 countries across the globe. ValueFirst had also bought several companies prior to its own acquisition. Some of these include Octane Marketing, Rocket Science Technology, clk2c.com, and Gingersoft Media.
Last fiscal year, ValueFirst processed over 42 billion SMS messages and was one of India’s largest messaging aggregators and CPaaS players. Twilio aims to benefit from ValueFirst’s customers, market know-how and product offerings, to further scale their operations in India.
Group advisory arm Intellecap acquires NR Management Consultants
Mumbai Based Intellecap, founded in 2015 the
advisory arm of impact-focused Aavishkaar Group, has fully acquired NR
Management Consultants India (NRMC).
Intellecap is the advisory arm of The Aavishkaar
Group, which works to build businesses that can benefit the underserved
segments across Asia and Africa. It has global recognition and having 29
offices across the globe.
Delhi Based, NRMC is research-focused and possesses
an understanding of natural resources and rural development in India and
The acquisition will help it drive more capital to
natural resource-driven carbon sequestration solutions, with a focus on
mitigating climate change.
Aavishkaar Group Apart from Intellecap has other group entities which includes Aavishkaar Capital, Arohan, IntelleGrow, Tribe, and Sankalp. Investors in Aavishkaar Group include Shell Foundation, Triodos Bank, TIAA-Nuveen, and Dutch development bank FMO.
Innovation (Dailyhunt) buys Vebbler to boost short-video app Josh
VerSe Innovation, based in Bengaluru which runs news aggregating
platform DailyHunt and short-video application Josh India, has acquired Vebbler,
a community-focused photo and video sharing application.
VerSe Innovation is a local language technology platform. Its platform
Josh & Dailyhunt is the best platform to reach millions of consumers of
regional language content. Josh is India’s fastest growing short video app. The
platform of choice for the top creators.
Vebbler is a print-on-demand platform that enables people to easily
personalize and print their photos onto photobooks, frames, magnets, canvases,
posters and more.
The combination of Vebbler’s product capabilities and Josh platform will
improve ability to drive innovation around camera and social engagement, and
play a more meaningful role in capturing the mindshare, timeshare, and revenue
share of Bharat’s local language users.
Homegrown app Josh has raised over $200 million so far from investors such as Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, and Glade Brook Capital Partners. Google, Microsoft and AlphaWave have also backed the firm.
Vidal Health Insurance acquires Vipul MedCorp
Bangalore Based Vidal Health Insurance Services had
acquired the Gurgaon Based Vipul MedCorp. This is the first such deal in the
third-party administrator (TPA) space.
Vidal Health Insurance TPA Pvt Ltd was established
in March 2002 with the mission to provide top quality TPA services to Health
Insurance policyholders and be the most preferred TPA in India. They are licensed
by IRDA (Insurance Regulatory & Development Authority – License No. 016)
and have been empanelled by leading insurance companies, both public sector and
private, across different regions of the country. Vidal Health’s provider
network partnerships extend to Asia, Europe and North America.
Vipul MedCorp Insurance TPA Private Limited, a
company promoted by Vipul group is engaged in the managed healthcare
facilitation & has obtained a license from IRDA for TPA activities.
The combined revenue of both companies will exceed
Rs 200 crore after the acquisition is complete. The merged entity of Vipul
Medcorp with Vidal Health will make it the second largest third-party
administrator in the Indian insurance sector. After the merger, Vidal Health
will have an equal share of government business, corporate business and retail
business in health insurance.
Along with this acquisition, Vidal Healthcare Services (VHC), the parent entity of Vidal Health has also acquired a group company of Vipul Medicorp, Vipul Medcare.
Marketplace ClickIndia.com has bought software-as-a-service (SaaS) Startup Directly.live
Directly.live is a provider of
software-as-a-service (SaaS) based in India set up by IIT-Delhi student Mayank
Dubey that helps schedule meetings. Individuals and companies can integrate its
platform into their systems and connect with customers or audiences through
one-on-one video calls.
ClickIndia, a classified ad posting site, providing
an easy way to search, buy or sell, to exchange, to interact for common
ClickIndia said the acquisition will boost user
experience as well as help its customers close deals. The company, operated by
ClickIndia Infomedia Pvt Ltd, was set up in 2007 and operates as a classifieds
As per ClickIndia, the acquisition will boost the user experience as well as help its customers close deals.
Delhi-based RoboticWares, which owns and operates
SaaS logistics platform FarEye, has acqui-hired logistics technology startup PY
Acqui-hire refers to a sale that is focused on employee talent, rather
than the company’s services or products. The deal will help FarEye strengthen
its solution engineering execution to increase value for customers and build an
internal incubation cell, according to a statement.
Previously known as PRTouch, PY Technology was founded by Jignesh Vasani
in 2012. It develops enterprise resource planning (ERP) solutions for the
logistic industry. The Mumbai-based startup offers end-to-end logistic
technological solution, a cloud-based platform, warehouse management and a
tracking transport system. Post deal, Vasani will join FarEye as vice president
of professional services.
The synergy is aiming to drive innovation in the industry by solving the
complex challenges that cost the supply chain and logistics industry trillions
of dollars globally.
Founded by Nahata, Gautam Kumar and Gaurav Srivastava in 2013, FarEye is a SaaS-based logistics management platform that digitises the way enterprises dispatch, execute, track and optimise the movement of goods. The platform leverages data capabilities to predict the journey and improve delivery experience for a range of business sectors including B2B brands in food, grocery, furniture, pharmacy and carriers. The solution is used by more than 150 customers, including companies such as DHL, Walmart, Amway, Domino’s and Hilti, across 30 countries.
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During the previous week, both the benchmark
indices, Nifty and Sensex witnessed a highly volatile session, ending the
weekly session in red. Nifty and Sensex traded in the range of 14,459 and
14,882, and 48,580 and 50,092 respectively. During the week, bulls tried to
take control of the market, but failed to do so.
The equity markets witnessed a weakened
investor sentiments due to continuation in rising COVID-19 cases throughout the
world, and especially due to a higher pace of rise in the number of cases in
India. Stringent lockdown rules have been announced by the state governments,
whereas, lockdown period has been extended for the states which were already
experiencing lockdown and night curfew. This has weakened the investors’
However, the investor sentiments were boosted on
Wednesday, after the announcement of RBI Policy, where the bank rates have been
kept unchanged, as a remedy to revive the economy of the country by the way of
liquidity infusion. The MPC committee has been keeping the rates unchanged
since past 5 meetings. Bank Nifty welcomed the Policy outcome with open arms.
As far as sectoral indices are concerned, Nifty
IT, Nifty Metal and Nifty Pharma stocks ended in green during the week, gaining
more than 2% each, whereas, all the other sectoral indices ended the week in
red. Nifty Private Bank, Nifty PSU Bank, Nifty Media and Nifty Financial
Services were the worst performers of the week, losing more than 2% each.
For the upcoming week, the equity markets are expected to react on the new lockdown rules announced by the government and the change in number of COVID-19 cases. If the cases do not subside, the rules might get more stringent and have a negative effect on the equity market. Technically, for Nifty, 14,880 will be a critical level for the week. It should sustain above that level to confirm its bullish trend. On the upper side, it might see 15,300 levels. If it falls below 14,880, we might see it falling to 14,389.