Amaravati-based Indichip Semiconductors Ltd and Japan's Yitoa Micro Technology will invest Rs 14,000 crore in Andhra Pradesh to establish India's first private semiconductor manufacturing facility. The project, focused on producing Silicon Carbide chips, is set to support energy-efficient technologies and aligns with India's Atma Nirbhar Bharat vision.
Related news
Flipkart cofounder Binny Bansal has donated Rs 70 crore to establish the Binny Bansal Institute for Inventing the Future (IIF) at Plaksha University. The institute aims to tackle global challenges through AI, blockchain, and robotics. Plaksha University, supported by various donors, focuses on cross-disciplinary learning and partnerships to drive tech education and convert research into real-world applications.
KFin Technologies Ltd reported a 35% year-on-year increase in profit after tax to Rs 90.18 crore for the quarter ended December 2024. Revenue from operations rose by 32.6% to Rs 290 crore. For the first nine months of FY25, the company's PAT grew by 44.3%, with revenues increasing to Rs 808 crore.
India's foreign exchange reserves dipped below $653 billion, a near six-month low, as of December 13. This marks a $52 billion decrease since September's peak, influenced by RBI interventions, a weakening rupee, and a strong dollar. The rupee hit a record low against the dollar following the Federal Reserve's hawkish stance on interest rates.
Accel raised $650 million for its eighth India-focused fund, reflecting confidence in the country's startup ecosystem amid global economic uncertainties. This funding will support both new ventures and existing portfolio companies, with notable investments like Swiggy, BlackBuck, and Bluestone preparing for public offerings.
The electric vehicle industry in India communicated to Commerce Minister Piyush Goyal that they will no longer require subsidies once the current regime ends. Goyal emphasized the nation's readiness for electric mobility and plans to simplify the setting up of charging infrastructure at petrol pumps. He also expressed intentions to strengthen economic ties with the US amid trade tariff tensions.
Warren Buffett's strategic move of reducing Apple and Bank of America holdings and amassing cash has paid off, as market conditions worsen. Berkshire Hathaway's cash reserves doubled to $334 billion in 2024, underscoring Buffett's cautious approach amid high US Treasury yields and market volatility. Time will reveal if this strategy leads to significant gains.
India's market regulator, Sebi, is planning a portal, MITRA, to help investors find lost mutual fund investments. Inactive accounts, often due to missing PAN or outdated contact information, will be searchable through a central database managed by CAMS and KFintech. This initiative aims to reduce unclaimed accounts and protect against fraud, improving transparency in the financial system.
Prime Minister Narendra Modi made his podcast debut with Nikhil Kamath, co-founder of Zerodha, discussing topics like Modi's life, politics and entrepreneurship, and global governance. So who is Nikhil Kamath and what is his net worth? We take a look:
India's IPO market reached an impressive milestone in 2024, with proceeds doubling to USD 11.2 billion from 2023's USD 5.5 billion, driven by increased retail participation and domestic inflows. The government's focus on infrastructure and capital expenditure further contributed to India's market dynamism.
Alexandre de Rothschild, the seventh-generation leader of the Rothschild banking dynasty, emphasizes the need to prove oneself before joining the family business, rejecting the notion that a family name alone guarantees a seat. Rothschild & Co is considering expanding into wealth management in India to capitalize on the country’s optimistic growth mindset.