Vodafone Idea's shares surged 19.41% as the government converted Rs 36,950 crore of spectrum dues into equity, increasing its stake to 48.99%. This move is seen as crucial support, reducing the firm's financial obligations.
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Magenta Mobility is set to expand its electric vehicle fleet by 10,000 three- and four-wheelers in the next financial year. The company is targeting new cities and expanding its four-wheeler cargo services for intercity and interstate routes, including successful trials exceeding 150 kilometers per charge.
Home-cooked meal costs rose in December, with vegetarian thalis up 6% to Rs 31.6 per plate and non-vegetarian thalis increasing 12% to Rs 63.3 per plate, driven by higher prices of tomatoes, potatoes, and broiler chicken. The cost rise was partially offset by an 11% drop in LPG prices.
Encyclopaedia Britannica, once a weighty symbol of knowledge, has successfully transitioned to the digital age. By embracing AI and expanding into educational software and online dictionaries, the company has achieved impressive profit margins and is now considering a $1 billion IPO.
Maya and Leah Tata, daughters of Tata Trusts chairman Noel Tata, have joined the board of trustees at Sir Ratan Tata Industrial Institute (SRTII), taking over from Arnaz Kotwal and Freddy Talati. The appointments, endorsed by the Sir Ratan Tata Trust board, aim to leverage local experience for upcoming renovation projects. The move is seen as preparation for future responsibilities at larger Tata Trusts.
Indian IT firms generated $20 billion in free cash flows last year with over 75% returned to shareholders. Experts highlight the need for a reset as AI disrupts traditional business models. They suggest reinvesting in innovation and strategic investments to leverage future opportunities rather than focusing only on short-term shareholder returns.
Tata Group plans to create over 500,000 manufacturing jobs in the next five years through investments in factories and projects producing batteries, semiconductors, electric vehicles, and more. New plants are being constructed in various Indian states, boosting employment and highlighting significant opportunities in AI and the manufacturing sector.
Air India's profitability is under pressure due to the falling rupee, which increases operational expenses. The airline mitigates some of this impact by pricing international flights in foreign currencies. However, rising costs and a competitive market make it challenging to increase fares, affecting profitability. Air India is adapting to this situation amidst an ambitious transformation and expansion plan.
Singapore’s Temasek acquires a 9-10% stake in Haldiram Snacks Foods for over Rs 8,500 crore, valuing the company at around $10 billion. The deal, signed on March 11, marks a significant move in India’s FMCG sector, highlighting increased foreign investment. Discussions with Blackstone and Alpha Wave Global for an additional 5% stake are still ongoing.
India and New Zealand have restarted discussions for a Free Trade Agreement after a 10-year hiatus. This new move aims to deepen economic ties and address market access issues to achieve balanced outcomes, as bilateral trade surpasses $1 billion.
RBI deputy governor Rajeshwar Rao highlights the shift in household savings from traditional bank deposits to mutual funds and capital markets, affecting banks' funding costs and margins. Rao warns against over-reliance on wholesale funding and urges banks to develop sophisticated stress-testing methodologies and maintain adequate liquidity buffers. He also emphasizes the need for NBFCs to diversify their funding sources.