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Adani Looks to Buy SP Group’s Gopalpur Ports
Adani Ports, India’s largest port operator, is in advanced talks to buy Gopalpur Ports in Odisha from Shapoorji Pallonji Group for Rs 1,100-1,200 crore. This will help Adani Ports expand along India’s eastern coast as part of its “string-of-pearls” strategy to own ports across coasts.
Cars, 2-wheelers Tow Vehicle Sales to a High
Vehicle sales in India hit a new high in November with 2.85 million units sold, up 18% versus last year, showing strong festive season demand. Car and two-wheeler sales led the growth according to industry data.
Japan Big on India’s Consumer Mkt, Mfg
Top Japanese corporations see India as a key consumer market and manufacturing hub for the long run, as per Nomura’s global investment banking head. This is due to India’s strong economic growth and government support for manufacturing.
Readying Golden Handcuffs to Arrest CXO Attrition
With high attrition of top executives in India Inc., companies are taking measures like deferred incentives and stock grants to retain CEOs and CXOs. This comes amid a turbulent macro environment.
Kashmir Suffered Due to Nehru’s Blunders: Shah
Union Home Minister Amit Shah blamed India’s first PM Jawaharlal Nehru for the Kashmir conflict. He said Nehru’s “two major blunders” caused suffering in Kashmir, and without those Pakistan-occupied Kashmir would be part of India.
BJP Mulls Options on CMs Ahead of Next Yr’s LS Polls
The BJP is considering leadership options in states ahead of 2024 national elections. 10 of 12 BJP leaders elected to state assemblies recently quit Parliament, while 2 more will resign, indicating a reshuffle of CMs by BJP ahead of polls.
India will be Most Exciting Market for Aviation: IATA
India’s civil aviation market has huge potential owing to robust government infrastructure investments, as per global airline body IATA. This makes India likely the world’s most exciting market going forward.
Air India Rejigs 250-aircraft Airbus Order
Air India has reworked its mega order of 250 Airbus planes placed this year. It will now take 140 A321neo planes instead of 210 earlier, favorable for domestic and regional flights, while retaining 40 long-haul A350s.
5G Reaches 100M Users
India’s 5G services have covered 738 districts and attracted 100 million subscribers in a fast rollout, per government data. This highlights strong adoption by users since 5G launch in October.
RIL Turns to Sugar Mills to Fuel Green Energy Plans
Reliance Industries is in talks with sugar mills to source sugarcane waste as feedstock for producing compressed biogas, to power its green energy plans.
Retailers ask Cos to Cut 4G Phone Price
Mobile retailers have asked top smartphone brands to reduce prices and offer affordability schemes on 4G phones to clear rising unsold inventory.
Ashneer Grover Told to Prove Maintainability of NCLT Plea
The NCLT has asked Ashneer Grover, ex-BharatPe MD, to establish his case in his plea against the company over governance issues, before it can be admitted.
Removal of Safe Harbour Provisions will Harm Small Firms the Most: Google Exec
Removing protections for online platforms will hit small firms most, making them hesitate on new innovations, says a senior Google executive.
PNB Housing Looks to Raise Affordable Home Loans Share to 40% of its Assets in 3-4 years
PNB Housing Finance aims to increase affordable home loans to 40% of assets from 10% now over next 3-4 years, on rising demand.
Post-Covid Blues: Return to Office, Performance Pressure Keep Gen Z Stressed
Young Gen Z professionals face high anxiety and stress levels post-pandemic due to job loss fears, workplace AI, poor economy and sectors laying off staff.
Taxman Told to Refund HSBC Voluntary Deposit
Bombay High Court has directed tax authorities to refund a voluntary payment made by banking major HSBC to settle a tax dispute.
Make Pre-litigation Mediation for Trade Cases Voluntary, Proposes EAC-PM
A government advisory body suggests making mediation before filing trade dispute cases voluntary, to cut resolution time and costs for businesses.
IIT Placements Pressure: Joy or Jolt?
IIT student placements are seeing falling job offers and student angst this year, indicating tough macro environment and funding issues for startups.
Sensex Hits a New Peak, but Ends Short of Mount 70k Amid Caution
Stock indices hit fresh record highs, led by IT stocks, but pared gains on concerns market is overvalued after the recent rally.
Ready to See New Capex Deliver, Apollo Can Ill Afford a Blemish
Allegations of illegal kidney transplants against Apollo Hospitals come just as it starts generating returns on major investments, and any blemish could hit hard.
Two-wheeler Vroom Priced In, says CLSA
CLSA downgrades two-wheeler stock ratings as valuations look fair after the segment saw uptick in recent sales.
India Will Be Among Fastest Growing Asian Economies in 2024: Nomura
India will likely record among the highest economic growth rates in Asia in 2024, forecasts Nomura, along with Indonesia and Philippines.
Sebi Seeks ‘Commitment’ from Fund Managers that AIFs Won’t be Misused
Markets regulator Sebi wants assurance from private equity and venture capital funds that their investment vehicles won’t be used to evade regulations.
TV18, E18 to Merge with Network18
Media major Network18 will merge subsidiaries TV18, holding 13.5% in Viacom18, and digital business E18 into itself to create a single listed firm.
Deutsche Bank’s Risk Capital Soars by ₹1 billion in Last Qtr
Deutsche Bank had to pump over Rs 1 billion in additional capital for its India derivatives business last quarter due to regulatory issues.
Securitisation Mkt Grows 40% in H1, But Still A Tiny Part of Global Issuances
India’s securitization market expanded 40% in the first half of the current fiscal, but remains under 1% of global issuances, highlighting potential for further growth.
BoI’s Rs4,500-cr QIP Sees Strong Demand
State-run Bank of India’s qualified institutional placement of Rs 4,500 crore has received strong investor demand, with the issue oversubscribed 4.5 times.
What Does Rise in US Funding Rates Mean for India?
The spike in US dollar funding rates to the highest ever has implications for Indian borrowers and policymakers due to extensive links with the global financial system.
Centre Seeks House Approval for Extra Net Spending of ₹58,378 cr
The government has sought Parliament’s nod for additional budget spending of over Rs 58,000 crore this fiscal through supplementary demand.
Private Investments Likely to Gain Pace in H2: CII President
Pick up in private investments will likely add momentum to economic growth in the second half of the current fiscal, projects industry chamber CII.
Spike in Onion, Tomato Prices Adds to Thali Cost
Surge in onion and tomato rates pushed up the cost of vegetarian thalis by 10% in November over the previous month, reveals Crisil analysis.
Power Plants may be Set Up at Coal Pitheads to Cut Costs
India will locate future coal power projects near coal mines to reduce fuel transport expenses and lower the cost of electricity generation.
E-invoice for B2C Transactions to be Mandatory Soon
The government is expected to make e-invoicing compulsory for business-to-consumer transactions too in the next 2-3 years, like it is now for B2B deals.
‘Supply Chain Diversification to Help India, Other Emerging Mkts’
Supply chain shifts towards developing countries will aid their global trade share, says Fitch Ratings, as “friend-shoring” gathers steam.
‘Separation Wall being Provided in all Tunnels’
Escape routes and partition walls are being built in all tunnels under construction in India for the safety of commuters.
Rigs Shortage Delays Oil & Gas Exploration Projects
An acute global shortage of drilling rigs is hampering India’s oil and gas exploration activities, just as import dependence has spiked.
Lamborghini’s Most Expensive Model in India Sold Out till 2026
Lamborghini’s new hybrid supercar unveiled in India carries a multi-year waiting period, with allocated units sold out till 2026.
India’s Wait for Uniform Charging Ports Gets Longer
The government is yet to decide on a deadline for implementing common charging ports for electronic devices like phones, tablets, etc.
Yeh Dil Maange More: Average 2024 Pay Hikes Likely to be Higher at 9.8%
Salary increments in India Inc. next year are projected at 9.8% on average, marginally up from this year, says Deloitte survey. Manufacturing and life sciences are expected to see the best hikes.
IT Firms Continue to Take Leaders on Board to Steer Boat Amid Headwinds
Top Indian IT companies are hiring senior talent for leadership roles even as overall recruitment has slowed, to handle the current challenging business environment.
KFC has a 1,000 Stores and 1 Lakh Jobs on Menu
Having crossed 1,000 restaurants in India, KFC plans major expansion, which could generate close to 100,000 direct and indirect jobs according to the company.
Actis, Mahindra Lifespace to Partially Exit Realty SPV
Investment firm Actis and realty developer Mahindra Lifespan are jointly divesting part stake in a real estate project for over Rs 120 crore.
Bullet Train Body to Rent Out 580k sq ft at Transit Hub
The National High Speed Rail Corporation will lease around 580,000 square feet space for retail, offices, etc., at the Sabarmati railway station bullet train hub.
Contraceptive Cos, CMSS Spar over Tenders
India’s family planning program faces supply constraints as the central procurement agency has failed to timely source contraceptives from pharma firms.
HCC Sells Panvel Land to StoreAce for ₹95 cr
Construction firm HCC has sold 58 acres of land near Mumbai to supply chain company StoreAce for Rs 95 crore.
‘Burmans Yet to Designate Their Representative on REL Board’
Religare Enterprises states key stakeholder Burman family is yet to nominate a member to its board, after the latter flagged governance issues.
MNCs Challenge GST Notices on Services Received from Expats
Over a dozen multinational corporations have contested GST notices regarding tax on services received from expatriate staff seconded to Indian entities.
Adani Green to Invest $75B to Scale Up Capacity
Adani Group plans to invest $75 billion by 2030 in renewable energy capabilities to aid India’s green transition.
Bil Energy Enters Liquidation as it Fails to Get Any Revival Plan
Listed firm Bil Energy has been ordered into liquidation by the bankruptcy court after failing to attract a resolution plan from investors.
Govt Blocks 100 Sites Involved in Job Scams, Illegal Investments
The government has cracked down on over 100 websites engaged in fraudulent job and investment schemes to dupe people.
Foxconn’s Bharat FIH will Invest ₹400cr in Indian Arm Rising Stars
Bharat FIH, the local arm of Apple supplier Foxconn, will invest Rs 400 crore in subsidiary Rising Stars for financial needs.
GCCs Follow Top Tech Talent to India’s Heartland
Global capability centres are increasingly moving to tier-2 cities, with 1 in 5 new GCCs setting up in such locations, as tech demand sees caution.
Cautious Paytm to Step Back from its Postpaid Business
Paytm looks to scale down and tighten processes around its postpaid BNPL offering after fintech sector issues.
ZestMoney Saga Highlights Drying NBFC Credit Flow
Fintech ZestMoney shutting operations highlights liquidity squeeze at non-bank lenders funding startups.
Banks Leverage Bharat Billpay for Loan and Credit Card Repayments
Lenders utilizing Bharat Bill Pay platform for collection of their loan and credit card dues to boost digital payments.
Electronics Manufacturing Set to Touch $300 bn by 2026: IT MoS
India’s electronics production likely to reach $300 billion in the next 3 years on the government’s production-linked incentive scheme, says the Ministry of Electronics and IT.
Pricing Key for EVs to Generate $100b in Business by 2030, says Bain Report
Achieving affordable price points is crucial for India to create a $100 billion electric vehicle market this decade, highlights a Bain analysis with VC firm Blume Ventures.
Nvidia,Yotta in GPU Infra Collaboration
Nvidia partners with cloud solutions provider Yotta for GPU-based computing infrastructure to boost AI adoption in India.
Husqvarna Extends Deal with HCLTech
HCL Technologies gets a 5-year contract extension from Sweden’s Husqvarna group for managing IT infrastructure and digital transformation.