Hyundai, Kia Partner with Exide Energy for EV Batteries
South Korean auto giants Hyundai Motor Company and Kia Corporation are accelerating their electric vehicle (EV) ambitions in India. They recently signed a Memorandum of Understanding (MoU) with Exide Energy Solutions Ltd, a leading Indian battery manufacturer, to localize the production of Lithium-iron-phosphate (LFP) batteries specifically for their Indian EVs. This strategic move aligns perfectly […]
Vedanta Holdings Boosted by Blackrock, ADIA, Funds
Vedanta Limited’s stock has been on a tear in recent months, experiencing a remarkable nearly 30% increase (around ₹322 per share) since December 2023. This impressive rally has been fueled by a surge in investment activity, with leading financial institutions and domestic mutual funds significantly increasing their stake in the company. BlackRock, ADIA Among Major […]
Aurobindo Pharma’s A.P. Facility: 3 U.S. FDA Notices
Aurobindo Pharma, a leading Indian pharmaceutical company, has hit a roadblock with its recently inaugurated injectable facility located in Andhra Pradesh. The US Food and Drug Administration (US FDA) conducted a routine inspection and issued a Form 483 with three observations, casting a shadow over the facility’s compliance with stringent US regulatory standards. Form 483 […]
Sharekhan, Human Value Acquisition by Mirae Asset Approved
The Indian financial landscape witnessed a significant shift on April 2, 2024, with the Competition Commission of India (CCI) approving Mirae Asset’s acquisition of Sharekhan Ltd. and Human Value Developers Pvt. Ltd. in a deal valued at ₹3,000 crore (approximately USD $3.8 billion). This landmark deal marks Mirae Asset’s strategic expansion in the Indian market, […]
Kala Namak Rice Export Cap Set at 1,000 Tonnes by Govt
The Indian government, steering the world’s dominant rice industry with an annual production exceeding 135.5 million tonnes , has taken a calculated step towards introducing a new contender on the international rice scene. On Tuesday, they announced a shift in policy, permitting the export of up to 1,000 tonnes of Kala Namak rice. This aromatic, […]
TCS Under Fire: Americans Replaced by Indian H-1B Workers
Tata Consultancy Services (TCS), a titan of the Indian IT services industry, is facing a legal firestorm in the US. A wave of complaints has hit the company, with over 22 former TCS employees alleging age and race discrimination. These plaintiffs, ranging from Caucasian, Asian-American, and Hispanic professionals in their 40s to 60s, have filed […]
SIA-India, ABRASAT MoU Aims Space Sector Growth
India and Brazil are charting a new course for amplified space exploration through a collaborative pact. The Satcom Industry Association of India (SIA-India) and the Brazilian Satellite Communications Association (ABRASAT) sealed a Memorandum of Understanding (MoU) to invigorate advancements in the space sector. This strategic alliance marks a substantial step towards bolstering ties between the […]
Axis Bank Launches Digital Dollar FDs for NRIs at GIFT City
Axis Bank, a leading Indian private sector bank, has shaken up the NRI investment landscape with the introduction of digital US dollar fixed deposits (FDs) at GIFT City. This groundbreaking initiative, launched on March 27, 2024, signifies a major leap forward in streamlining NRIs’ investment experiences through digitalization. Effortless Onboarding Experience Gone are the days […]
Varun Beverages Completes BevCo Acquisition in South Africa
Varun Beverages Ltd., the leading franchise bottler for PepsiCo, marked a significant milestone on March 27, 2024, by successfully finalizing the acquisition of The Beverage Company (BevCo) in South Africa. This strategic move strengthens Varun Beverages’ position as a major player in the African beverage market. Acquisition Details and Regulatory Clearances The acquisition encompasses BevCo’s […]
RVNL-Salasar JV Secures ₹60 Cr Central Africa Project
A joint venture (JV) between state-owned Rail Vikas Nigam Limited (RVNL) and Salasar Techno Engineering Limited (STEL), a private steel player, has secured a transmission project worth approximately Rs 60 crore ($7.15 million) in Rwanda. This marks a significant achievement for both companies, particularly for RVNL, traditionally known for its expertise in railway infrastructure development. […]