Tuesday, February 28, 2023

Goa Investment Promotion Board approves 6 projects worth Rs 310 crore

Goa Investment Promotion Board approves 6 projects worth Rs 310 crore The board after a meeting on Tuesday gave approval to the Pune-based Bramhacorp Theme Park LLP to set up the park on a private land at Pernem taluka in North Goa district, close to the Manohar International Airport, Godinho told reporters after the meeting.

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SAP plans to double investments in India over 5 years, says CEO Christian Klein

SAP plans to double investments in India over 5 years, says CEO Christian Klein SAP will develop end-to-end core products in India and CEO Christian Klein said he expects the country to become an innovation hub for the company

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Tata Group’s talks over $1 billion Bisleri stake stall

Tata Group’s talks over $1 billion Bisleri stake stall The Indian conglomerate had been in advanced discussions to take control of Bisleri and the parties were working on finalizing the structure of a transaction, the people said.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/tata-group’s-talks-over-361-billion-bisleri-stake-stall_16912871.html

SBI forays into social loan market, raises $1 billion from markets abroad

SBI forays into social loan market, raises $1 billion from markets abroad In a statement, the bank said the loan is of USD 500 million of primary issue and an equal amount in greenshoe option. It is also the maiden such issuance from the nation#39;s largest lender.

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Cloud Kitchen operator to run 150 Wendy’s restaurants in India

Cloud Kitchen operator to run 150 Wendy’s restaurants in India Mumbai-based Rebel will become a master franchisee of the burger brand about two years after the companies signed a cloud kitchen deliveries-only deal. With the latest signing, the startup will help grow the chain through its digital expertise in delivery and automation, the companies said on Tuesday.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/cloud-kitchen-operator-to-run-150-wendy’s-restaurantsindia_16912161.html

Monday, February 27, 2023

Tesla#39;s Investor Day: Solar energy, economic EV and robotaxis likely to be in Masterplan 3

Tesla#39;s Investor Day: Solar energy, economic EV and robotaxis likely to be in Masterplan 3 Tesla#39;s third Master Plan, which will include information about the company#39;s new lower-cost car platform and its effort to grow to "extreme size," is soon to be unveiled by Elon Musk.

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Contamination risk among 8 FDA observations on Cipla, stock takes a hit

Contamination risk among 8 FDA observations on Cipla, stock takes a hit The US FDA’s current Good Manufacturing Practices (cGMP) inspection at the said unit was conducted between February 6 and February 17.

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Bharti Airtel’s Sunil Mittal feels return on capital is low, expects tariff hike by mid-2023

Bharti Airtel’s Sunil Mittal feels return on capital is low, expects tariff hike by mid-2023 At the Mobile World Congress Airtel Chairman Sunil Mittal told PTI that Airtel has a healthy balance sheet with no need to raise any more capital

from Moneycontrol Business News https://www.moneycontrol.com/news/business/bharti-airtel’s-sunil-mittal-feels-returncapital-is-low-expects-tariff-hike-by-mid-2023_16911621.html

Return on capital very low, expects tariff hike by mid of 2023: Bharti Airtel chairman Sunil Bharti Mittal

Return on capital very low, expects tariff hike by mid of 2023: Bharti Airtel chairman Sunil Bharti Mittal While responding to a PTI query at the Mobile World Congress, Mittal said that the company has a healthy balance sheet and there is no need to raise any more capital.

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Sunday, February 26, 2023

India#39;s consumption story has hit a speed breaker, for now

India#39;s consumption story has hit a speed breaker, for now Savings during the pandemic could still be supporting certain categories of discretionary consumption, but there are early signs of moderation in consumer credit and demand could further weaken in the case of a deficient monsoon

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Is it the beginning of the end for India’s great consumption story?

Is it the beginning of the end for India’s great consumption story? Savings during the pandemic could still be supporting certain categories of discretionary consumption, but there are early signs of moderation in consumer credit and demand could further weaken in the case of a deficient monsoon

from Moneycontrol Business News https://www.moneycontrol.com/news/business/is-itbeginningthe-end-for-india’s-great-consumption-story_16910141.html

Adani in talks for $400 million debt against Australian coal port assets: Report

Adani in talks for $400 million debt against Australian coal port assets: Report Adani Group has begun discussions with global credit funds to raise up to $400 million in debt against assets of a key coal port that makes up a large portion of the Indian conglomerate#39;s Australian exports of the solid fossil fuel from Carmichael mine.

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Adani’s world tour seeks to win back debt investors’ faith

Adani’s world tour seeks to win back debt investors’ faith About a dozen global banks will help host the investor meetings at Singapore’s Capitol Kempinski hotel Monday.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/adani’s-world-tour-seeks-to-win-back-debt-investors’-faith_16909831.html

Adani’s world tour seeks to win back debt investors’ faith

Adani’s world tour seeks to win back debt investors’ faith About a dozen global banks will help host the investor meetings at Singapore’s Capitol Kempinski hotel Monday.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/adani’s-world-tour-seeks-to-win-back-debt-investors’-faith_16909821.html

India#39;s economic growth appears to be very fragile, says RBI monetary policy committee member Jayanth R Varma

India#39;s economic growth appears to be very fragile, says RBI monetary policy committee member Jayanth R Varma The Reserve Bank which has been hiking the short-term lending rate since May last year has cumulatively raised the repo rate by 250 basis points. The repo rate now stands at 6.5 per cent.

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Saturday, February 25, 2023

Tube Investments#39; EV arm gets Rs 1,200 crore investment from Multiples PE

Tube Investments#39; EV arm gets Rs 1,200 crore investment from Multiples PE The investment from Multiples is a part of the Rs 3,000 crore fundraising efforts by TICMPL for its electric vehicle venture.

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Friday, February 24, 2023

Adani group investments approved by Sri Lanka

Adani group investments approved by Sri Lanka The wind power plant in Mannar will operate at a capacity of 250 MW (megawatt) while the wind power plant in Pooneryn will operate at a capacity of 100 MW.

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Thursday, February 23, 2023

After entering US market, Tanishq says huge opportunity for other Indian retail brands in America

After entering US market, Tanishq says huge opportunity for other Indian retail brands in America This is mainly attributed to the large presence of Indian Diaspora in the country, who are among the highest per-capita income, but also because of the interest in India, its culture and products among the Americans.

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Airbus close to landing large order from India#39;s IndiGo, Les Echos cites Le Maire

Airbus close to landing large order from India#39;s IndiGo, Les Echos cites Le Maire The contract could be signed at the French airshow in Le Bourget in June, the paper said, adding that Le Maire made the comments during his trip to India for a G20 Summit.

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IT sector can shield you from domestic headwinds. An upgrade in the pipeline?

IT sector can shield you from domestic headwinds. An upgrade in the pipeline? Selective exposure to IT stocks could be a good bet at a time the overall domestic outlook does not look encouraging

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Indian banks may face rise in bad loans from retail, small businesses: SBI official Ashwini Kumar Tiwari

Indian banks may face rise in bad loans from retail, small businesses: SBI official Ashwini Kumar Tiwari While loans to this segment have been growing fast, defaults have thus far been few.

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Volkswagen to revisit India amid China geopolitical uncertainty

Volkswagen to revisit India amid China geopolitical uncertainty Volkswagen AG wants to remain a strong player in Europe and China, but in the face of growing geopolitical tensions and an increasingly complex regulatory environment, the German carmaker is looking beyond the US for markets with growth potential, Chief Executive Officer Arno Antlitz said.

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Wednesday, February 22, 2023

Semiconductor manufacturing to start very soon in India: IT secretary Alkesh Kumar Sharma

Semiconductor manufacturing to start very soon in India: IT secretary Alkesh Kumar Sharma Speaking at a conference on technology transfer by C-DAC, Thiruvananthapuram for local manufacturing of smart meters and electric chargers, Sharma said Meity has taken lead in technology development, be it electronic or automotive sector, artificial intelligence.

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Wheat prices fall from January record as government sales reach physical markets

Wheat prices fall from January record as government sales reach physical markets The Food Ministry has held meeting with millers, food associations, packaged food makers and advised them to cut prices of atta and atta-made products – efforts that have had an impact at the wholesale level and will soon reflect in retail prices.

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Why the IT sector calls for an upgrade now

Why the IT sector calls for an upgrade now Selective exposure to IT stocks could be a good bet at a time the overall domestic outlook does not look encouraging

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Tuesday, February 21, 2023

SIDBI forays into venture-debt market

SIDBI forays into venture-debt market Commenting on SIDBI#39;s progress so far in providing venture-debt, Ramann said that even though it was a #39;small beginning#39;, SIDBI had done four investments.

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Wockhardt to restructure US business to save $12 million per year, sees debt pare down

Wockhardt to restructure US business to save $12 million per year, sees debt pare down The restructuring entails shutting down the company’s Morton Grove manufacturing facility in Chicago and using CMOs to manufacture a few high margin products to reduce annual costs

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British International Investment to invest Rs 1,925 crore in Mahindra EV arm

British International Investment to invest Rs 1,925 crore in Mahindra EV arm The investment will be completed in two tranches and the first Rs 1,200 crore tranche will be completed by June 30, 2023.

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Adani Group share value shrinks more than $100 billion as rout continues

Adani Group share value shrinks more than $100 billion as rout continues The conglomerate has lost more than $135 billion in market capitalisation since January 24 when Hindenburg Research accused it of accounting fraud and stock manipulation

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Omega Seiki to set up manufacturing facility in Bangladesh for M1KA brand of e-trucks

Omega Seiki to set up manufacturing facility in Bangladesh for M1KA brand of e-trucks OSM already has a production plant for its cargo and passenger three-wheelers in Bangladesh, which will start production from April.

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Monday, February 20, 2023

Adani Group suffers over $100-billion loss in market value as rout continues

Adani Group suffers over $100-billion loss in market value as rout continues The conglomerate has lost more than $135 billion in market capitalisation since January 24 when Hindenburg Research accused it of accounting fraud and stock manipulation

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Adani Group market value drops below $100 billion as rout widens

Adani Group market value drops below $100 billion as rout widens The ports-to-power conglomerate has lost more than $135 billion in market capitalization since Jan. 24 when US-based Hindenburg Research published a report alleging accounting fraud and stock manipulation —- allegations that Adani Group has denied repeatedly.

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Bharti Airtel hikes entry-level tariff plans in two more circles - check details here

Bharti Airtel hikes entry-level tariff plans in two more circles - check details here This move of the company takes total entry level tariff hike to 19 circles out of 22 circles. The three circles that are yet to see a price hike from the telecom operator are Kolkata, Gujarat and Madhya Pradesh.

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Kotak Mahindra Bank taps Egon Zehnder for CEO Search

Kotak Mahindra Bank taps Egon Zehnder for CEO Search The board is expanding the search to ensure it finds suitable external candidates, they said, asking not to be identified discussing confidential information.

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Please go home! Indian firm deploys software for work-life balance

Please go home! Indian firm deploys software for work-life balance Softgrid Computers#39; software is equipped with a notification system that kicks in the moment an employee#39;s shift is over, warning them that "the office system will shut down in 10 mins" and asking them to "please go home".

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Uber to introduce 25,000 EVs in India amid clean car push

Uber to introduce 25,000 EVs in India amid clean car push The EVs will be bought by Uber#39;s fleet partners from Tata Motors, India#39;s biggest electric carmaker, Prabhjeet Singh, president, Uber India and South Asia told Reuters.

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Maggi “Chotu” price hike dents Nestle’s sales volumes and revenue growth in December quarter    

Maggi “Chotu” price hike dents Nestle’s sales volumes and revenue growth in December quarter     Sales growth remained strong in mega and large cities despite the price increase, with metros and Tier I towns showing nearly 20 percent growth year-on-year. 

from Moneycontrol Business News https://www.moneycontrol.com/news/business/maggi-“chotu”-price-hike-dents-nestle’s-sales-volumesrevenue-growthdecember-quarter -  _16899721.html

Two-wheeler sales cross 1 lakh mark in 45 days this year, but industry body SMEV not impressed

Two-wheeler sales cross 1 lakh mark in 45 days this year, but industry body SMEV not impressed Industry body the Society of Manufacturers of Electric Vehicles feels the number of two-wheeler electric sales for this year are underwhelming and could have been much higher. 

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Sunday, February 19, 2023

Why Coforge is a quality IT name to add

Why Coforge is a quality IT name to add Coforge’s earnings story is strong and, time and again, it has shown its ability to carefully navigate challenges

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India to amplify voices of startups during its G20 Presidency

India to amplify voices of startups during its G20 Presidency The startup ecosystem is a force to be reckoned with, and it needs to be given the attention and support it deserves. Startup20, a ground-breaking initiative under the G20, aims to create a global platform for startups to thrive

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Indian agency accuses Pernod Ricard of more policy violations

Indian agency accuses Pernod Ricard of more policy violations The latest accusations against Pernod by India#39;s financial crime agency, the Enforcement Directorate, detailed in the agency#39;s 14,000-page filing of Jan. 6 in a New Delhi court, formally name the French group#39;s local unit as an accused.

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Saturday, February 18, 2023

India#39;s mineral production rises 9.8% in December 2022

India#39;s mineral production rises 9.8% in December 2022 Minerals like gold, phosphorite, iron ore, limestone, manganese ore and coal showed positive growth.

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Improve telecom service quality immediately, report call drop data at state level too: TRAI to telecom companies

Improve telecom service quality immediately, report call drop data at state level too: TRAI to telecom companies TRAI has advised players to write to the Telecom Department, to flag the issue of low-quality handsets.

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Friday, February 17, 2023

Andhra Pradesh hosts investment drive in Mumbai to attract businesses and investors to GIS 2023

Andhra Pradesh hosts investment drive in Mumbai to attract businesses and investors to GIS 2023 As it gears up for the 2023 Global Investors Summit, the state government of Andhra Pradesh is set to highlight its strengths in Mumbai, the financial capital.

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NSE to include Adani Wilmar, Adani Power to few indices from March 31

NSE to include Adani Wilmar, Adani Power to few indices from March 31 The global index provider had cited potential replicability issues due to impact from price limit mechanisms in two Adani group firms as the main reason behind the delay.

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Twitter to charge users to secure accounts via text message

Twitter to charge users to secure accounts via text message Last month, Twitter said it would price Twitter Blue subscription for Android at $11 per month, the same as for iOS subscribers.

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Credit Suisse needs a cockroach exterminator

Credit Suisse needs a cockroach exterminator Every time the troubled bank thinks things have quieted down, a new problem crawls out of its financial woodwork

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AstraZeneca gets CDSCO nod for drug to treat biliary tract cancer

AstraZeneca gets CDSCO nod for drug to treat biliary tract cancer BTC is a group of rare and aggressive gastrointestinal (GI) cancers that form in the cells of the bile ducts (cholangiocarcinoma), gallbladder or ampulla of Vater (where the bile duct and pancreatic duct connect to the small intestine).

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MSCI will speed ESG ratings reviews after silence on Adani

MSCI will speed ESG ratings reviews after silence on Adani MSCI Inc. will now review holdings in its ESG indexes on a monthly basis, more frequently than its previous quarterly schedule, the firm said Thursday.

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Thursday, February 16, 2023

Air India will require more than 6,500 pilots for 470 planes

Air India will require more than 6,500 pilots for 470 planes Seeking to expand fleet as well as operations, the airline has placed orders for acquiring a total of 840 aircraft that includes an option to buy 370 planes. This is one of the largest aircraft order by any airline.

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LTIMindtree Q4 Preview: Lower pass-through revenue seen impacting growth marginally

A compilation of estimates suggests the company#39;s Q4 FY24 net profit is projected to decline by 2.2 percent quarter on quarter to Rs 1,1...