In this episode, find out about Wockhardt’s plans to deliver a global vaccine programme, also find out about Suzuki’s plans in Gujarat for manufacturing electric vehicles.
Business Term of the Day: NFT Enders to Future Retail Ltd have abandoned plans to sue the company for the unapproved transfer of hundreds of its stores to Reliance Retail. Instead the lenders are looking to enforce their rights through the debt recovery tribunal and bankruptcy tribunal. The change in stance comes after Future claimed it was unaware of the takeover, and banks believe suing the company now will only create further complications. That’s a mint exclusive Jindal Steel & Power (JSPL): The company’s wholly-owned Jindal Steel & Power (Mauritius) has prepaid a $357mn loan to its lenders. This prepayment will help clear the entire debt on JSPML. This loan had corporate guarantees from JSP India, which will also get released. Over the past three years, JSP has been able to reduce its overseas debt from $1.8bn to $130mn post this payment. Wockhardt: The company has collaborated with Serum Life Sciences UK Ltd, a subsidiary of the Serum Institute of India, one of the world’s largest vaccine manufacturers to deliver a global vaccine programme. The tie-up will help create considerable number of employment opportunities along with creation of new sterile fill and finish facility in Wrexham , North Wales (‘New Facility’). A profit sharing arrangement has been made between the two parties for this New Facility that will deliver an additional 150 million vaccine doses of multiple vaccines. Maruti Suzuki: Suzuki Motor Corporation (SMC) signed MOU with the State of Gujarat, India to invest approximately 150 billion yen (approximately 104.4 billion rupees) for local manufacturing of electric vehicles (BEV) and BEV batteries. ata Elxsi: The company has launched TEngage, the first-ever truly digital health platform designed for omnichannel care at the HIMSS Global Health Conference & Exhibition being held in Orlando, Florida from 14–18 March 2022. Tata Elxsi’s TEngage allows hospitals and healthcare providers to offer a unified patient experience across all channels and delivers healthcare anytime, anywhere. Reliance Retail Ventures Limited (RRVL) has acquired 89 percent equity stake in Purple Panda Fashions Private Limited, which owns and operates intimate wear brand Clovia. RRVL made an investment of Rs 950 crore in the company through a combination of secondary stake purchase and primary investment, according to an official statement. Clovia, launched in 2013 by Pankaj Vermani, Neha Kant & Suman Choudhary, is a bridge-to-premium D2C brand for women’s innerwear and loungewear. With this acquisition, Reliance added another brand to its portfolio in the innerwear segment, having already acquired Zivame and Amante brands. Moving on to markets Shares in Asia-Pacific rose in Monday morning trade, as investors look ahead to the release of China’s latest benchmark lending rate. Oil prices also jumped more than 2%. Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 2.16% to $110.26 per barrel Business Term of the day NFT stands for “non-fungible token.” Non-fungible is an economic term that you could use to describe things like your furniture, a song file, or your computer. These things are not interchangeable for other items because they have unique properties. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos. Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. But what makes NFTs unique from other digital forms is that it is backed by Blockchain technology
In this episode, find out why the Union cabinet cleared the Rs 11000 crore palm oil project, why US markets slid post FOMC minutes Business Term of the Day: Additional Tier 1 bon ... Read more
In this episode, find out why the Union cabinet cleared the Rs 11000 crore palm oil project, why US markets slid post FOMC minutes Business Term of the Day: Additional Tier 1 bond Read more
In this episode, find out why retail sales continue to stay below pre-pandemic levels, why US markets saw the biggest decline Business Term of the Day: National Automobile Scrapp ... Read more
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In this episode find out, Adani Group to acquire MBCPNL portfolio from Sadbhav Infra, Why the activity levels are moving back towards pre-pandemic levels Business term: Build operate transfer (BOT) Read more
In this episode, find out why Ola Electric has come out with new electric scooters, why Indian markets may open lower in today’s trade Business Term of the Day: FAME 2 Read more
In this episode, find out why Ola Electric has come out with new electric scooters, why Indian markets may open lower in today’s trade Business Term of the Day: FAME 2 Read more
In this episode, find out Future Group has filed petition before SC, why Asian markets wavered during Friday trade Business Term of the Day: Operating Profit Read more
In this episode, find out Future Group has filed petition before SC, why Asian markets wavered during Friday trade Business Term of the Day: Operating Profit Read more
In this episode, find out why Yes bank is looking to set up an ARC, why US markets touched record highs Business Term of the Day: Asset Reconstruction Company Read more
In this episode, find out why Yes bank is looking to set up an ARC, why US markets touched record highs Business Term of the Day: Asset Reconstruction Company Read more
In this episode, find out why zomato reported Q1 loss, why Reliance Energy will invest $50 m in Ambri Business Term of the Day: Employee Stock Ownership Plan Read more
In this episode, find out why zomato reported Q1 loss, why Reliance Energy will invest $50 m in Ambri Business Term of the Day: Employee Stock Ownership Plan Read more
In this episode, find out why Paytm is looking to expand ESOP pool before IPO, why SAT pronounced a split verdict in PNB Housing finance case Business Term of the Day: Anti-trust ... Read more
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As many as seven firms, including JM Financial, Ernst and Young and Deloitte, have bid for managing the strategic sale of IDBI Bank. These firms would make a virtual presentation ... Read more
As many as seven firms, including JM Financial, Ernst and Young and Deloitte, have bid for managing the strategic sale of IDBI Bank. These firms would make a virtual presentation before the Department of Investment and Public Asset Management, which is handling the sale process, on August 10, according to a notice by DIPAM. Read more
In this episode, find out why centre has introduced the bill to scrap retrospective tax law, why SEBI is examining Adani Power’s delisting proposal Business Term of the Day: Retr ... Read more
In this episode, find out why centre has introduced the bill to scrap retrospective tax law, why SEBI is examining Adani Power’s delisting proposal Business Term of the Day: Retrospective Tax Read more
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