CATEGORIES

The man who is preparing for a Berkshire without Buffett

Greg Abel, an energy veteran and Canada native, was picked by Buffett in 2021 to succeed him as chief executive

Price volatility in food items seen persisting into the next year

India’s farm sector output, which backed India’s economic performance when industries sank during covid, saw an unprecedented weather shock in the year ending December, weighing on agricultural output and the volatility in prices of food items may continue over the next year.

G20 meet was defining event of '23 for India in many ways

New Delhi cultivated this constituency of countries as a key support for its ambitions of global leadership

Sustainable hydrogen push to biofuels pact: India's long green strides in 2023

India’s energy transition journey, which has gained pace in the past few years, witnessed traction with major domestic initiatives including the launch of the National Green Hydrogen Mission and viability gap funding for battery energy storage systems (BESS) to increase in its international outreach through the Global Biofuels Alliance.

Economy likely to see good vibes in '24

Strong likelihood of 7% average growth and reduction in geopolitical uncertainties are among the defining features of the new calendar year

Open internet's potential goes untapped

India’s digital advertising industry has yet to fully capitalize on the rapid growth of the open internet. Consumers dedicate half their time to the open internet (OI), yet ad spending on this platform accounts for just 15%, compared with a whopping 85% on walled gardens. This translates to a 5.5 times higher ad spend on platforms outside the OI.

South Seas forays into premium single malt

South Seas Distilleries & Breweries, one of India’s oldest distilleries with a long legacy in B2B spirits exports, has unveiled its inaugural direct-to-consumer premium single malt brand, Crazy Cock.

OTT producers look to own IPs, seek new funding streams

Content producers working with video-streaming platforms, most of whom have to part with IP (intellectual property) ownership of their projects in exchange for financing by these companies, are now increasingly seeking external sources of capital.

Modest hirings from B-school spark loan repayment worry

IITS can charge 8 lakh for a 4-year course; a 2-year MBA from an IIM can cost up to 30 lakh

ED gets 3-day custody of top Vivo India execs

Court asks the agency to probe claims they were in custody since 21 Dec

Main-board IPOs weather global storm this year

The capital generated through mainboard IPOS dipped slightly to just over 152,000 crore in 2023 amid global volatility driven by rising interest rates and geopolitical risks, while the number of issues rose. Experts maintain a strong bullish outlook on the IPO market for 2024.

Jakson Group plans to raise $500 mn for boosting ops

Energy and infrastructure solutions company Jakson Group is looking at raising about $500 million through a series of equity fund raising rounds starting next fiscal, said its chairman and managing director Sameer Gupta.

EDF eyes $100 mn fundraise

The French government-owned company is looking to bid for smart-meter contracts in major cities across India

Subdued IT demand remains a sore point for Info Edge

Info Edge (India) Ltd continues to feel the heat of weakness in the information technology (IT) sector. After all, the company’s key recruitment solutions segment, which includes Naukri.com, derives about 50-60% of revenue from the IT industry. Consequently, the lacklustre demand in IT has led to Info Edge’s year-on-year billing growth rates tapering with the measure up by a mere 1% in the September quarter.

Stock mkt '23: Winners and losers

Amid geopolitical tension and subdued global economic growth, the Indian stock market showcased impressive resilience in 2023. Key benchmark indices—the Nifty50 and S&P BSE Sensex—hit the 21,000 and 70,000 milestones, respectively. But not all have emerged victorious. An analysis of Nifty’s 14 key sectoral indices shows some sectors handsomely beating others as well as Nifty by a wide margin in 2023, but others put up a weak show.

Atria, Gaw Cap talks fall through

Bengaluru-based Atria Power, which operates several wind, hydro and solar power projects in India, is in early talks with both financial and strategic suitors, after its discussions with Hong Kong's asset manager Gaw Capital partners fell through recently, at least two people aware of the development told VCCircle.

Micron resolves IP theft lawsuit

Micron Technology Inc. has settled a high-profile intellectual property theft lawsuit with a key, state-backed Chinese rival amid the US company's efforts to mend ties with Beijing.

Users to take a hit as gaming cos navigate GST challenges

Firms are working on new monetization models that are likely to be rolled out by FY24-end

Spain eyes high-level India visit to focus on defence ties, migration deals

Spain is pushing for a high level visit from its Prime Minister to India in 2024 according to people aware of the matter. The focus of both countries will be on deepening defence ties and inking migration and mobility agreements. The move comes after Spain’s Prime Minister Pedro Sanchez missed the G20 Leaders Summit in Delhi in September due to a positive covid diagnosis.

Navy investigating merchant ship attack

The Indian Navy has launched an investigation into a suspected drone strike on a Mangalorebound cargo vessel off India's west coast in the Arabian sea even as the merchant ship is on its way to Mumbai, officials familiar with the matter said on Sunday.

Basmati export price may rise due to Red Sea unrest

However, demand is not expected to be affected unless the unrest persists for extended period

Yi He, the crypto queen pulling the strings at Binance

U.S.authorities toppled the king of crypto. But the queen is still standing.

Centre, Deloitte studying impact of GST on power

As the government looks to bring electricity under goods and services tax (GST), the Union power ministry is looking at its likely impact on the industry, states’ revenue and household electricity bills. Electricity is one of several commodities like petrol, diesel and natural gas that have so far remained out of the purview of GST.

Tata Steel to double long products play in infra bet

Tata Steel Ltd is looking to capture India’s infrastructure boom by doubling the manufacturing of long steel products used in construction over the next six years, a top company executive said. Currently, three-fourth of its capacity is in flat steel, used in automobiles and consumer goods.

Price stabilization fund may get 1,500 cr each in next 2 budgets

The price stabilization fund (PSF), established to build buffer stocks of farm commodities to help contain sudden rise in food prices, may get additional allocations in the 2024-25 and 2025-26 budgets of ₹1,500 crore each. The department of consumer affairs (DoCA) has placed a proposal for the allocations before the expenditure finance committee (EFC), government officials aware of the matter said.

Railways to invest 37 tn to lay tracks in next 10 yrs

The Indian Railways will invest at least ₹7 trillion over the next decade to lay a record 50,000 kilometres (km) of new train tracks to modernize its network and boost train speeds, a top railway ministry official said.

Byju's lenders in US chasing $533 mn meet Camshaft wall

Byju’s has shifted the ownership of half a billion dollars that its special purpose vehicle Alpha borrowed in the US to one of its unnamed subsidiaries, a move that has stumped its US lenders trying to retrieve their money.

Derivatives see FPI, retail in tug-of-war

Retail has had greater success with their recent bets than FPIS

FPIs' monthly investments hit 3-vr high in Dec

Foreign portfolio investor (FPI) inflows in December hit the highest in any month in the past three years, signalling the rising heft of the Indian stock market among global peers. With four more trading sessions left in the year, December 2023 could potentially set a monthly record for FPI buying.

Sanjiv Aggarwal to take charge at NIIF, likely to join early 2024

India’s government-backed quasi-sovereign wealth fund for infrastructure investments is now ready to welcome its new honcho.