IBN (India Business News). For July Week 3, 2024

India Business News
27 Jul 202411:15

Summary

TLDRIBN India Business News for July week 3, 2024, highlights key business events. Tex Holdings' best performance in India, PWC's immersive learning facility, Mercedes-Benz's electric vehicle plans, Ola Maps' pricing policy, and Spice Jet's capital raising are featured. The aviation sector faces challenges, with Indigo canceling flights due to a Microsoft outage. Adani Ports' approval for development in Vietnam and Tata Steel's unchanged UK strategy are noted. The Asian Development Bank sanctions a loan for India's solar rooftop expansion, while the healthcare and education sectors see significant developments. The tech sector buzzes with a Wi takeover bid rejection and Infosys' hiring targets, while the telecom sector contemplates operations handover. The summary captures the week's business highlights, engaging viewers with a concise overview.

Takeaways

  • 📈 India has been identified as Tex Holdings' best-performing market over the past decade, with Singaporean investors' exposure to India reaching $37 billion.
  • 🏆 In the global ranking of inclusive brands, Google, Amazon, Nike, Dove, and McDonald's are in the top five, while in India, Google, Tata Motors, Amazon, and Apple are leading.
  • 🏢 PWC has launched an immersive learning facility aimed at developing multifaceted leaders through a transformational leadership development approach.
  • 🚗 Mercedes-Benz is considering assembling more electric vehicles in India to achieve carbon neutrality and zero-emission goals.
  • 🚌 Ashok Leyland has secured the largest fully built bus order from the Maharashtra State Road Transport Corporation for 2,140 units of Viking passenger buses.
  • 🗺️ Ola Maps, an AI startup by Ola founder Bhavish Aggarwal, offers 5 million free API calls per month for all Indian startups and is 50% cheaper than Google Maps.
  • ✈️ Pratt & Whitney, an American aircraft engine manufacturer, is expanding its operations in India with a new customer service center in Yelahanka, Bengaluru.
  • 🛫 SpiceJet Limited's board is set to discuss a proposal to raise fresh capital by issuing securities to qualified institutional buyers to strengthen the airline's financial position.
  • 🛒 Adani Ports has received in-principle approval from the Vietnamese government for a greenfield development in Danang, featuring container terminals and multi-purpose berths.
  • 💰 The Asian Development Bank has sanctioned a $24.5 million loan to India to finance the expansion of the solar rooftop system, promoting the government's ambitious rooftop solar initiative.
  • 🏥 Healthcare startup Ean Heel has raised ₹15 crore in its seed round from IvyCap Ventures to ramp up operations, recruit more employees, invest in technology, and expand geographically.

Q & A

  • Which market has been identified as Tex Holdings' best performing market over the last 10 years?

    -India has been identified as Tex Holdings' best performing market over the last 10 years.

  • What is the total exposure of Singapore State investors to India, according to the script?

    -The total exposure of Singapore State investors to India has soared to $37 billion.

  • Which brands are ranked in the Global top five by Cana's index of the world's most inclusive brands?

    -The Global top five brands ranked by Cana's index are Google, Amazon, Nike, Dove, and McDonalds.

  • What is the significance of the immersive learning facility inaugurated by PwC?

    -The immersive learning facility inaugurated by PwC is focused on developing employees as multifaceted leaders in life and work through a transformational leadership development approach.

  • Why is Mercedes-Benz considering assembling more electric vehicles in India?

    -Mercedes-Benz is considering assembling more electric vehicles in India to help achieve its carbon neutrality and zero emission goals.

  • What is the new pricing policy for Ola Maps as released by Ola's AI startup, CROUT?

    -The new pricing policy for Ola Maps offers 5 million free API calls per month for all startups in India and will cost 50% less than that of Google Maps.

  • What is the purpose of the $24.5 million loan sanctioned by the Asian Development Bank to India?

    -The loan is intended to finance the expansion of the solar rooftop system in India, promoting and developing the rooftop solar system.

  • What is the latest development in the aviation sector concerning Bratt and Whitney in India?

    -Bratt and Whitney, an American aircraft engine manufacturer, is expanding its operations in India with the announcement of a new customer service center in Yelahanka, Bengaluru.

  • What is the update on the proposed capital raise by SpiceJet Limited?

    -SpiceJet Limited's board of directors is set to meet to discuss a proposal to raise fresh capital, which involves issuing securities to qualified institutional buyers to strengthen the airline's financial position.

  • What is the latest development regarding Indigo, India's largest carrier?

    -Indigo canceled 93 flights as airline systems across airports limped back to recovery and resumed normal operations following a day of chaos due to a massive Microsoft outage.

  • What is the significance of the Supreme Court's dismissal of a plea related to the Adani group?

    -The Supreme Court's dismissal of the plea means that there will be no review of its verdict, which refused to constitute a special investigation team or order a Central Bureau of Investigation probe into allegations of stock price manipulation by the Adani group.

Outlines

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Transcripts

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الوسوم ذات الصلة
Business NewsIndiaJuly 2024FinanceTechAviationHealthcareRetailAuto SectorEconomy
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