The findings from the latest report suggested that about 90 per cent of the business leaders in India are planning to invest significantly in AI and generative AI. It added that Indian leaders are also interested in other investments such as 92 per cent in Cloud, 73 per cent in cybersecurity and 71 per cent […]
UltraTech Cement has disclosed its decision to acquire a 26 per cent stake in Amplus Ages by investing Rs 49 crore. Amplus Ages is actively involved in the generation and transmission of renewable energy. The Aditya Birla Group firm formalised the agreement through a share subscription and shareholders’ agreement, according to the regulatory filing. The […]
Union Commerce Minister Piyush Goyal said that India and UAE aspire to expand their bilateral trade to USD 100 billion. While addressing the ‘UAE India Business Summit’ held at the 10th edition of Vibrant Gujarat Global Summit, the Minister underscored the multifaceted nature of the India-UAE partnership, encompassing collaborations in space exploration, security, education, and […]
Toshihiro Suzuki, President of Suzuki Motor Corporation (SMC), unveiled Maruti Suzuki’s investment plans in the state of Gujarat, signalling a significant stride in the automotive sector in a major development announced during the Vibrant Gujarat Global Summit 2024 on Wednesday. In the first announcement, Maruti Suzuki India entered into an agreement with the State of […]
Supam Maheshwari, CEO, and Co-founder of the mother and child care ecommerce platform FirstCry, purportedly sold 6.2 million shares before the company’s upcoming initial public offering (IPO). Media sources estimate the value of the shares he sold to be more than Rs 300 crore. Maheshwari, named as a selling shareholder in the draft red-herring prospectus […]
Pegatron Corporation, a major supplier to tech giant Apple, has announced an investment of Rs 1,000 crore in Tamil Nadu. The investment is targeted at establishing a computing, communications, and consumer electronics manufacturing unit, bringing with it the promise of generating employment for approximately 8,000 individuals. The Memorandum of Understanding (MoU) formalising this investment was […]
Invesco, the US-based asset management company, has once again revised the valuation of Indian food delivery giant Swiggy, raising it to USD 8.3 billion, according to recent regulatory filing. This marks the second consecutive adjustment to Swiggy’s valuation by Invesco. As of 21 October 2023, Invesco held 28,844 shares in Swiggy, with a total value […]
Amidst global turmoil, frozen dessert players aim for sweet growth and innovation in 2024 In the middle of economic uncertainties due to geopolitical crisis across the globe, players from the frozen dessert companies are gearing up to face 2024 with the hope of growing their businesses to contribute more to India’s growth story. Even though […]
Omnichannel beauty retailer Sugar Cosmetics recorded a noteworthy 89% year-on-year surge in operational revenue for FY23, reaching Rs 420 crore, while maintaining a steady net loss of Rs 76 crore. The Mumbai-based company witnessed a substantial 68% increase in total expenses to Rs 505 crore, mainly attributed to heightened expenditure on stock-in-trade acquisitions due to […]
The US Treasury implemented new battery sourcing rules in December, to reduce dependence on Chinese suppliers in the electric vehicle supply chain. As a result of these rules, many electric vehicles, including models from Nissan, Tesla (Cybertruck All-Wheel Drive, Model 3 Rear Wheel Drive) and Chevrolet (Blazer EV), lost eligibility for tax credits of up […]
