MCX net surges to Rs 43.70 cr

MCX net surges to Rs 43.70 cr Mumbai, Jul 16 (PTI): The Multi Commodity Exchange has reported a near 500 percent growth in consolidated net at Rs 43.70 crore for the June quarter despite a lower 30 percent jump in total income at Rs 110.84 crore The average daily turnover on the exchange at Rs 27,473 crore, up 12.8 percent, it said Tuesday. The exchange has successfully converted all its base metal futures contracts into compulsory delivery contracts.

Until now, 3,288 tonne of aluminium, 1,370 tonne of zinc and 85.5 tonne of nickel have been delivered through the exchange mechanism. ************** Star launches Marathi sports channel Broadcaster Star India has launched a Marathi sports channel--Star Sports 1 Marathi-offering both live as well as non-live content.

Star Sports 1 Marathi will be the sixth regional sports channel from Star India's stable which also has Star Sports 1 Hindi, Star Sports 1 Tamil, Star Sports 1 Telugu, Star Sports 1 Kannada and Star Sports 1 Bangla, it said, adding the Marathi launch is in line with its continued endeavour to deepen regionalisation and offer the best of sports action customised as per every market. *************** Credit Suisse partners with Nasscom to prop startups up Swiss bank Credit Suisse has partnered with software industry lobby Nasscom to support growth of fintech startups in the world's third largest startup ecosystem.

The partnership was launched in Pune with 35 fintech entrepreneurs and is a part of the Swiss bank's strategy to establish India as a center for technology innovation for the bank globally, an official statement said. ***************** IIFL Home Fin launches spl loan for underserved mkt IIFL Home Finance has launched a dedicated product of lending up to Rs 20 lakh to the underserved segments.

Swaraj Home Loans, the new product is aimed at semi- skilled like plumbers, electricians, carpenters, drivers, mechanics, technicians, salesman, peons, security guards, shopkeepers, traders and contractors. ************** KC Mahindra Trust offers Rs 2.6 cr PG scholarship The KC Mahindra Trust associated with the diversified Mahindra Group has awarded a scholarship of Rs 2.6 crore to students for undertaking post-graduated courses abroad.

The trust was formed in 1953, and has so far disbursed USD 77 million in grants, scholarships and loans to the needy, an official statement said. **************** UAE exempts visa for kids The UAE has announced an exemption in visa fee for all minors traveling with parents for a limited period on a tourist visa.

This initiative is aimed at increasing tourist footfalls into the emirate during the ongoing summer season. *************** New VC fund 100X.VC eyes 100 startups for investment Sector agnostic venture capital fund 100X.VC, which was launched Tuesday, aims to invest in 100 startups over the next one year to early-stage startups in the range of Rs 2.5 million to Rs 10 million.

The city-based fund is promoted by serial entrepreneur-turned-angel investor Sanjay Mehta and has the former Aptech managing director Ninad Karpe as partner. *************** Varun Dhawan is brand face of Reebok Sport goods major Reebok India has roped in Hindi actor Varun Dhawan as its brand ambassador, the company said in a statement Tuesday..