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

Summary

IBN 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.