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INDIAN (B)

INDIAN (B)

Games company Dream11 valued at $1 billion

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Hedge fund Steadview Capital’s deal with fantasy sports startup Dream11 is expected to give multi-bagger returns to early backers Kalaari Capital, Think Investments and Multiples Equity. The deal will make the Mumbai-based company the latest member of the unicorn club (of companies valued at over $1 billion).



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INDIAN (B)

India's GDP to grow at 7.5% in FY20: World Bank

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India’s GDP growth is expected to accelerate moderately to 7.5 per cent in fiscal year 19-20, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption, the World Bank has said. The real GDP growth is estimated at 7.2 per cent in FY18/19, the World Bank said in its latest report.



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INDIAN (B)

Sensex, Nifty end lower in volatile trade

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Among the sensex constituents, Yes Bank emerged as biggest laggard with 2.66% drop in share price. Other top losers were Bajaj Finance, Vedanta, Tata Motors, Reliance Industries and SBI – dropping as much as 2.57 per cent. On the other hand, Infosys, Mahindra and Mahindra, ONGC, TCS, PowerGrid and NTPC closed with significant gains on the sensex chart.



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