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Showing posts from February, 2023

MG Motor India February sales fall 7% to 4,193 units

The company had sold total 4,528 units in February 2022. from Moneycontrol Business News https://ift.tt/crVLn2M

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. from Moneycontrol Business News https://ift.tt/i3ZhgV1

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

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. from Moneycontrol Business News https://ift.tt/obwChjX

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

Mahindra Logistics shares sink 3% as CFO resigns

Shares traded lower as CFO Yogesh Patel tendered his resignation which will be effective from March 10 from Moneycontrol Business News https://ift.tt/iLSKnuO

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. from Moneycontrol Business News https://ift.tt/uSgWOay

Adani CFO Jugeshinder Singh says no refinancing, capital plans at Hong Kong roadshow

The crisis-ridden Indian conglomerate is continuing an investor roadshow in Hong Kong Tuesday to ease concerns about its financial health and corporate governance induced by a short-seller’s allegations. from Moneycontrol Business News https://ift.tt/KOAQatk

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

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. from Moneycontrol Business News https://ift.tt/jk37rYc

Nokia changes iconic logo to signal strategy shift

The new logo comprises five different shapes forming the word NOKIA. The iconic blue colour of the old logo has been dropped for a range of colours depending on the use. from Moneycontrol Business News https://ift.tt/k6zDJvi

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 from Moneycontrol Business News https://ift.tt/fie6hc1

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’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

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. from Moneycontrol Business News https://ift.tt/uzDFm1n

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. from Moneycontrol Business News https://ift.tt/SI091MD

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. from Moneycontrol Business News https://ift.tt/3vHnKc2

Adani Total to start operations at Indian LNG terminal by mid-June

The start-up of the 5 million tonnes per annum (mtpa) LNG import terminal, delayed from September 2021, is crucial to Prime Minister Narendra Modi#39;s plan to boost natural gas use in the country#39;s energy mix to 15% from about 6% currently. from Moneycontrol Business News https://ift.tt/T9cqfRQ

Value of LIC#39;s investments in Adani Group companies turns negative

As of closing on February 22, LIC#39;s investment value in Adani Group companies stood at Rs 33,632 crore, as per the December shareholding pattern available on the exchanges. from Moneycontrol Business News https://ift.tt/pYixjE1

PineBridge looks past Adani saga to load up on stocks in India

The stock meltdown offered an entry point into what’s historically an expensive market, according to Kelly, who also sits on PineBridge’s management committee. from Moneycontrol Business News https://ift.tt/kD58LYO

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. from Moneycontrol Business News https://ift.tt/mzAITyu

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 from Moneycontrol Business News https://ift.tt/eET8Chb

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. from Moneycontrol Business News https://ift.tt/gGirWpK

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. from Moneycontrol Business News https://ift.tt/M7dEsQw

Flight crew and air traffic staff ‘strong’, but need mental health tools beyond ‘professional skills’, says DGCA

An expert committee identified three major areas of intervention and suggested best practices viz. mental health assessment during the medical assessments, Peer Support Programme and pre-employment psychological assessment from Moneycontrol Business News https://www.moneycontrol.com/news/business/flight-crewair-traffic-staff-‘strong’need-mental-health-tools-beyond-‘professional-skills’-says-dgca_16905451.html

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. from Moneycontrol Business News https://ift.tt/7zZoq6W

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 from Moneycontrol Business News https://ift.tt/4xbJlVH

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. from Moneycontrol Business News https://ift.tt/OSqepRm

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 from Moneycontrol Business News https://ift.tt/4SJoPFm

NTPC Green Energy to raise up to Rs 9,000 crore term loan

The bid document showed that NGEL intends to raise fresh debt and repay outstanding liability of Rs 8,200 crore towards NTPC by March 31, 2023 along with applicable interest cost. from Moneycontrol Business News https://ift.tt/cFidztm

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. from Moneycontrol Business News https://ift.tt/oU8bX6t

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 from Moneycontrol Business News https://ift.tt/pFew13z

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. from Moneycontrol Business News https://ift.tt/CBucabi

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. from Moneycontrol Business News https://ift.tt/lGFSihw

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". from Moneycontrol Business News https://ift.tt/SjkBc2X

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. from Moneycontrol Business News https://ift.tt/cLxDoeg

Adani issue: SC refuses to accept petitioner#39;s suggestion

A bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala denied the request by the lawyer appearing for one of the petitioners. from Moneycontrol Business News https://ift.tt/5ASeTo0

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 from Moneycontrol Business News https://ift.tt/zvj9Kq1

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 from Moneycontrol Business News https://ift.tt/5NrQMel

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. from Moneycontrol Business News https://ift.tt/xtJXlQq

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. from Moneycontrol Business News https://ift.tt/CGxgu7Z

Raj Kapoor Bungalow: गोदरेज ने 100 करोड़ में खरीदा राज कपूर का बंगला, कैसे होगी पांच गुना कमाई!

मुंबई में राज कपूर की एक और प्रॉपर्टी बिक गई है। चेंबूर इलाके में उनका एक बंगला गोदरेज प्रॉपर्टीज ने 100 करोड़ रुपये में खरीदा है। कंपनी की योजना इसे तोड़कर प्रीमियम हाउसिंग प्रोजेक्ट बनाने की है। इससे पहले राज कपूर के आरके स्टूडियो को भी इसी कंपनी ने खरीदा था। from प्रॉपर्टी समाचार, रियल एस्टेट खबरें, Real Estate India, Property News https://ift.tt/AsEJSKQ

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. from Moneycontrol Business News https://ift.tt/5PCHaA9

Manish Sisodia called for questioning by CBI in Delhi Excise Policy case

It is alleged the Delhi government#39;s policy to grant licences to liquor traders favoured certain dealers who had allegedly paid bribes for it, a charge strongly refuted by the AAP. from Moneycontrol Business News https://ift.tt/26KZw7z

Karnataka budget: Government to set up startup park near Bengaluru airport

Stating that people are showing more interest in air travel, Karnataka Chief Minister Basavaraj Bommai on Friday said a state-of-the-art startup park would be established near Kempegowda International Airport here. from Moneycontrol Business News https://ift.tt/fQPyeDm

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. from Moneycontrol Business News https://ift.tt/fA6gMT5

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. from Moneycontrol Business News https://ift.tt/Pmv2bGs

Glenmark gets USFDA nod for generic diabetes drug

Glenmark Pharmaceuticals Inc, USA, a unit of the company, has received tentative approval from the US Food Drug Administration (US FDA) for Saxagliptin Tablets in strengths of 2.5 mg and 5 mg, the Mumbai-based drug maker said in a statement. from Moneycontrol Business News https://ift.tt/VntGCvM

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. from Moneycontrol Business News https://ift.tt/0RKLcnU

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. from Moneycontrol Business News https://ift.tt/MHZTGhn

Airlines gain from seat capacity-demand balance and higher fares

The operational environment being witnessed now is distinct from the past when one airline or the other invariably accorded precedence to its quest for enhancing market share at the expense of profitability from Moneycontrol Business News https://ift.tt/mWBz9O0