SEPTEMBERASIA BUSINESS OUTLOOK9The Nifty reached Mount 20000 on Sept 11 as hard-nosed retail investors and domestic institutions continued to bet on equities, despite crude oil remaining close to $90 per barrel and foreign portfolio investors (FPIs) becoming a subdued bunch.The broader index reached an all-time high of 20008.15, up 188.2 points, or 0.94 percent, on the day. It finished a few points short of the mark at 19996.35, up 176.40 points or 0.89 percent.The Peer Sensex also rose 528 points to reclaim the 67000 level. The 30-share index rose 528.17 points, or 0.79 percent, to 67127.08. It rose 573.22 points, or 0.86 percent, during the day to 67172.13.It was in November 1995 that Nifty 50 started its journey with a base value of 1000 -- the index took 27 years, 10 months and 8 days to reach the 20000 mark.The accomplishment came on the same day that Amfi data showed net inflows into equity mutual funds increasing to Rs 20,245.26 crore in August from Rs 7,626 crore the previous month, supporting the view that domestic participants are now contributing to the bull charge. NEWSROOMINDIA'S STOCK MARKET INDEX NIFTY PUSHES PAST 20,000, CREATES HISTORIC LANDMARKAccording to two sources with direct knowledge of the situation, Indian education behemoth Byju's is looking to sell two companies acquired in 2021 - Great Learning and Epic - in order to fundraise up to $1 billion in order to streamline its operations and repay lenders.Byju's, which was valued at $22 billion last year, has experienced a series of business crises, including the resignation of its auditor and board members, and has recently been negotiating the repayment of a $1.2 billion loan.As per sources, Byju's, which is backed by investors such as General Atlantic, Prosus, and Silver Lake, may sell more assets in the future to raise cash.While Epic is a reading platform based in the United States that Byju purchased for $500 million, Great Learning is an Indian company that provides upskilling courses and degrees that Byju purchased for $600 million.According to the second source, Byju's has received term sheets to sell Epic, but the source did not specify from whom. According to the first source, Byju's plans to sell the two companies to private equity investors in addition to other education companies. INDIAN EDTECH CONGLOMERATE BYJU'S SEEKING TO RAISE $1 BILLION BY SALE OF GREAT LEARNING & EPIC COMPANIES
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