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Quant MF front-running case: Reliance, Adani Power, IRB Infra, SAIL among top holdings of Quant Smallcap | Mint

LivemintLivemint · 1y ago
Quant MF front-running case: Reliance, Adani Power, IRB Infra, SAIL among top holdings of Quant Smallcap | Mint
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Quant Mutual Fund's small-cap investment vehicle holds a diverse portfolio of stocks, including Reliance Industries, HDFC Bank, IRB Infrastructure, RBL Bank, and Jio Financial Services. The fund is currently under investigation for allegedly engaging in front-running practices. Around 68% of the fund is invested in small-cap stocks, while 28% is invested in large-cap stocks. The top holdings of the Quant Small Cap Fund include Reliance Industries, Jio Financial Services, HDFC Bank, IRB Infrastructure Developers, and Bikaji Foods International. The fund house has issued a statement expressing its commitment to cooperate with regulators regarding the investigation.

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Glance AI launches commerce app with deep intelligence and visual shopping

EntrackrEntrackr · 1m ago
Glance AI launches commerce app with deep intelligence and visual shopping
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Consumer tech firm Glance has launched Glance AI, a generative AI-native commerce platform that aims to reinvent how consumers discover and shop online. The product is now live on Android and iOS globally. Glance is pitching the platform as the world’s first inspiration-led commerce experience, where users no longer search but discover curated fashion looks generated in real-time by AI. Consumers simply upload a selfie to visualize styled outfits photorealistically rendered on their own likeness, mapped directly to products from over 400 brands. Unlike traditional e-commerce, Glance AI removes the need for scrolling or decision fatigue. Its multimodal AI engine—commerce intelligence, generative visualization, and a real-time shopping agent—predicts user preferences, suggests hyper-personalized looks, and enables instant purchases. Glance AI is also integrated into Glance-enabled Android lock screens, TVs, and brand websites, turning passive surfaces into live commerce touchpoints. “In a world moving from curated feeds to AI-generated realities, Glance AI marks a paradigm shift,” said Naveen Tewari, founder & CEO of InMobi and Glance. “It’s one of our most ambitious technological bets and signals the birth of a new category: AI commerce.” According to the company, early trials in America have seen 1.5 million users generate over 40 million personalized looks, with 50% saving or sharing visuals, and 40% beginning purchase journeys. While fashion is the first use case, Glance plans to expand into beauty, accessories, and travel in the coming months. Founded in 2019, Glance is a Singapore-incorporated consumer tech company that operates platforms such as Glance, Roposo, and Nostra. It delivers lock screen content and commerce to over 450 million smartphones and is backed by Jio Platforms, Google, and Mithril Capital. Glance has raised around $400 million to date, including its $200 million Series D round led by Reliance-owned Jio platform, where it was valued at $1.6 billion. Coming to its financial front, the company has recorded 89% YoY growth in its revenue to Rs 614 crore during the fiscal year ended March 2024.

Edtech startup PhysicsWallah to launch 26 Vidyapeeth offline centres

Economic TimesEconomic Times · 1y ago
Edtech startup PhysicsWallah to launch 26 Vidyapeeth offline centres
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Edtech unicorn PhysicsWallah on Friday said it is launching 26 offline centres across India, in as many cities. The centres are called PW Vidyapeeth. Currently, the Noida-based startup has 67 centres operational in 38 cities. The offline centres will offer a curriculum for engineering and medical entrance examinations. “By expanding our tech enabled offline Vidyapeeth Centres across cities, our goal is to ensure access to quality education for students in their own towns, eliminating the need for them to relocate to education hubs in distant cities,” said Ankit Gupta, CEO of the startup’s offline centres vertical. The company had reportedly rolled out 50 offline centres in May this year, with an investment of around Rs 82 crore in technologies. In July, it launched the PW Institute of Innovation (PW IOI), a four-year residential programme in computer science and AI.Founded by Alakh Pandey and Prateek Maheshwari, PhysicsWallah gained unicorn status last year, when it raised $100 million in its maiden funding round from WestBridge Capital and GSV Ventures, at a valuation of more than $1.1 billion. For the financial year through March 2022, it reported standalone operating revenue of Rs 232.48 crore, a nine-fold increase from the previous year. Net profit for FY22 increased to Rs 97.8 crore from Rs 6.93 crore. Also read | Upskilling companies see brisk business as K-12, test prep stall The broader offline play Post-pandemic, edtech startups have been reeling under the pressure as demand for online and digital education in the K-12 and examination preparation has gone down. This has prompted players such as Byju’s, Unacademy and Vedantu to invest in offline centres.While Unacademy announced multiple rounds of layoffs, it also expanded its offline centres from 10 to around 58, in the first half of 2023. Vedantu also counts its hybrid centres as one of its key growth levers. The Tiger Global-backed startup had bought a majority stake in offline test prep business Deeksha for $40 million. ET had reported in December about how major edtechs across the board are expected to move away from the K-12 business model and focus on priorities such as a bigger offline play in 2023. In Byju’s case, its 302 offline tuition centres across 143 towns also double up as office spaces. Each has an office room for sales staff. This has helped ease the Bengaluru-based startup’s real estate spaces consolidation plans that have gone hand-in-hand with its layoffs. Experience Your Economic Times Newspaper, The Digital Way!Front PagePure PoliticsCompanies & EconomyCompaniesLearn more about our print editionMoreRIL may Sell 8-10% More in Rel Retail VenturesReliance Industries is likely to sell another 8-10% stake in Reliance Retail Ventures Ltd (RRVL) to fund expansion, retire debt and prepare for the initial public offering of the conglomerate’s retail business, two senior industry executives aware of the plans said.Brics Set to Add 6 New Members from N Africa, Gulf and LatAmBrics is set to add heft to the grouping of emerging economies as it announced on Thursday the inclusion of six new members, including India’s key partners in the Gulf and North Africa, a development that Prime Minister Narendra Modi described as a message that “all global institutions need to transform considering the changing times”.Strong Signals from Investors, Vi may Get Much-needed Cash SoonVodafone Idea (Vi) is closer to tying up its much-delayed equity funding with chief executive Akshaya Moondra informing the Department of Telecommunications (DoT) that the telco has term sheets from several potential investors. Read More News onphysicswallahoffline centresedtechunicornvidyapeeth centres Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. InvestingGQG Partners rescues Adani stocks from Deloitte fiasco. But primary fundraise is a bigger issue.Under the lensHow Ireo’s Lalit Goyal allegedly siphoned off INR1,800 crore to his offshore entitiesEconomyThe phoenix-like rise of private capex, and why we should thank ‘creative destruction’ for this

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