Optiemus Unmanned Systems partnered with Germany’s LS Spectrum Solutions to market and distribute drone-based spectrum analysis solutions in India, supporting the 'Make in India' initiative. This collaboration aims to enhance spectrum monitoring for sectors including defense and aviation, addressing unauthorized cellular activity, and enabling real-time monitoring of communication frequencies for improved management.
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JSW Group is engaging in discussions with multiple auto manufacturers, including Chinese company Geely, for electric vehicle joint ventures in India. Their aim is to expand across various EV segments, including passenger and commercial vehicles, while exploring partnerships beyond their existing collaboration with SAIC's MG.
Hero MotoCorp reported a 7.5% rise in total sales to 59,11,065 units in 2024, including significant progress in the electric vehicle segment with over 46,662 VIDA V1 e-scooters sold. The company achieved 49% growth in global business sales with eight new model launches designed for regional preferences.
Hero MotoCorp will appoint Vikram Kasbekar as acting CEO effective May, following Niranjan Gupta's departure. The restructuring also designates Ram Kuppuswamy and Ashutosh Varma in new roles. Additionally, the EV & Emerging Mobility Business Unit will become a separate entity from February 2025.
President-elect Donald Trump's newly debuted digital token, trading under the “Trump†ticker on the Solana blockchain, surged to a $15 billion market value over the weekend, causing major speculative activity within the cryptocurrency market. However, its value decreased to below $10 billion following the launch of a similar token by his wife, Melania.
According to the RBI, India's credit-to-GDP ratio was 90.1% in 2022, indicating potential for higher credit growth compared to advanced and emerging markets. This growth can boost economic development. The analysis also finds that income growth positively impacts bank deposits.
JSW Group is in advanced negotiations to buy Everstone Capital's 8% stake in MG India, potentially increasing JSW's stake to 43%. Currently, Everstone Capital holds 8%, while JSW Group owns 35%. MG India's Chinese parent SAIC owns 49% of the company. The valuation of the 8% stake could be Rs 1,000-1,200 crore.
HDFC Life reported a 14% rise in net profit to Rs 415 crore for the December quarter, up from Rs 365 crore a year ago. However, total income declined to Rs 16,914 crore from Rs 26,694 crore. The solvency ratio dropped slightly to 188% from 190%, still above the regulatory requirement of 150%.
7-Eleven's parent company, Seven & i Holdings, is exploring store sell-offs with Canadian firm Alimentation Couche-Tard (ACT) to address antitrust concerns and a potential merger. Joint efforts by financial advisors are underway to find buyers, aiming to create a feasible divestiture plan. This follows measures to counter ACT's takeover bid, previously rejected for undervaluation.
India's textiles and apparel exports, including handicrafts, rose by 7% to $21.35 billion in April-October FY24, driven by ready made garments and cotton textiles. Imports dipped slightly by 1% to $5.43 billion. India remains a strong global player, facing challenges like geopolitical tensions and supply-demand dynamics.
MNCs continue to push for women in top leadership roles, unlike Indian IT firms where women in C-suite roles are still under-represented. Global Capability Centres are making strides with targeted mentorship and deliberate focus on gender diversity, resulting in increased women leaders in senior positions.