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521 MW of rooftop solar capacity added in April-June
by Ayush Agarwal / 07:15 pm 25 Sep 2021 Saturday

As per a report, India added 521 megawatts (MW) of rooftop solar capacity in the second quarter (Q2) of the calendar year (CY) 2021, a 53 per cent increase quarter-on-quarter (QoQ) compared to 341 MW installed in Q1 2021 (January-March).

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Swiss gold exports to India at 5 month high
by Ayush Agarwal / 05:45 pm 25 Sep 2021 Saturday

As per Swiss customs data, Swiss exports of gold to India jumped to a five-month high in August while shipments to China fell. Switzerland is the world’s largest bullion refining centre and transit hub. A total of 70,294 kg of gold was shipped to India in August.

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FDI equity inflows rose up by 112%
by Ayush Agarwal / 05:15 pm 25 Sep 2021 Saturday

As per the ministry, FDI equity inflows grew by 112 per cent in the first four months of 2021-22 ($20.42 billion) compared to the year ago period ($9.61 billion). Automobile industry leads as the top sector, accounting for 23% of the total FDI equity inflows followed by computer software & hardware (18%) and services sector (10%), respectively.

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Oyo eyes over $12 billion valuation in IPO
by Suvayan Sen Gupta / 05:00 pm 25 Sep 2021 Saturday

Oyo Hotels & Homes aims to list in India at a valuation of $12-15 billion without its founder Ritesh Agarwal offloading any stake in an upcoming IPO, people aware of the company’s plans said. The SoftBank Group-backed hospitality startup was valued at $9.6 billion after a “strategic investment” by Microsoft Corp. last month. Oyo is looking to raise between $1 billion and $1.2 billion largely by issuing fresh stock in the

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UltraTech Cement looking towards 100% renewable energy usage by 2050
by Ayush Agarwal / 04:45 pm 25 Sep 2021 Saturday

UltraTech Cement said it has joined the RE100 initiative and the company targets to meet 100% of its electricity requirement through renewable sources by 2050. RE100 is a global group of influential businesses committed to using 100 percent renewable electricity. Its purpose is to accelerate change towards zero-carbon grids at scale.

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Twitter rolls out Bitcoin tipping, safety features in product push
by Suvayan Sen Gupta / 04:30 pm 25 Sep 2021 Saturday

Twitter Inc will allow people to tip their favorite content creators with bitcoin and will launch a fund to pay some users who host audio chat rooms on its Spaces feature, the company said on Thursday. Twitter said it plans to support authentication for NFTs, or non-fungible tokens, which are digital assets such as images or videos that exist on a blockchain. The feature will let people track and showcase their

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Evergrande didn't pay staff and suppliers
by Ayush Agarwal / 04:15 pm 25 Sep 2021 Saturday

As per a report, China Evergrande Group's electric vehicles (EV) unit has not made the latest payments to some of its employees and suppliers for factory equipment. Also, for some mid-level managers, the second installment of monthly payments has not arrived. Many equipment suppliers had begun withdrawing their on-site personnel from the Shanghai and Guangzhou sites.

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Up to 20-25% secondary dilution expected in Oyo's impending $ 1 bn IPO
by Suvayan Sen Gupta / 04:00 pm 25 Sep 2021 Saturday

Up to 20-25 per cent secondary dilution is expected in Oyo's impending $ 1 billion IPO, people familiar with the matter said. Existing investors such as Airbnb and Greenoaks Capital are unlikely to divest their stakes besides founder Ritesh Agarwal, they added. “Ritesh holds roughly 33 per cent stake and would not be diluting. The large institutional investors would also dilute very little. About 75-80 per cent will be fresh equity

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Tamil Nadu looking at $100 billion worth of exports by 2030
by Ayush Agarwal / 03:45 pm 25 Sep 2021 Saturday

The Tamil Nadu government has signed Memorandum of Understanding for 24 projects worth Rs.2,120.54 crore. Chief Minister M K Stalin said the government's goal is to increase the state's exports to $100 billion by 2030. The state government's MSME - TIPB entered into an MoU with Flipkart/Walmart for promotion of e-commerce among MSMEs in Tamil Nadu through a supplier development programme.

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Bitcoin slips after China central bank vows to crack down on crypto trading
by Suvayan Sen Gupta / 03:30 pm 25 Sep 2021 Saturday

Bitcoin fell nearly 5 per cent on Friday after China's central bank said it would crack down on cryptocurrency trading, banning overseas exchanges from providing services to mainland investors. The largest cryptocurrency was last down 4.6 per cent at $42,874, with smaller coins that typically trade in tandem with bitcoin also tumbling. Ether fell over 8 per cent while XRP slipped 7 per cent.

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Tata Motors hits EV sales mark of 10,000 units
by Ayush Agarwal / 03:15 pm 25 Sep 2021 Saturday

Tata Motors said that its electric vehicles have achieved a cumulative sales of 10,000 units. Tata Motors offers Tigor EV and Nexon EV in the electric vehicles segment. The company has over 70% market share (year-to-date FY22).

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Nucleus Software announces Rs 159 crore buyback offer
by Suvayan Sen Gupta / 03:00 pm 25 Sep 2021 Saturday

Nucleus Software Exports on Friday announced an up to Rs 158.7 crore buyback offer, wherein it will buy 22.6 lakh equity shares at Rs 700 apiece. The Board of Directors on September 24 approved the proposal for buyback of its shares from the equity shareholders on a proportionate basis through the tender offer route, a regulatory filing said.

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Govt buys 56 C-295 military transport aircraft from Airbus
by Ayush Agarwal / 02:45 pm 25 Sep 2021 Saturday

The Defence Ministry on Friday has signed a nearly Rs 20,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian Air Force. Under the deal, 16 aircraft will be delivered in a flyaway condition by the Airbus Defence and Space within 48 months of signing the contract.

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ZEE merger with Sony TV may face regulatory delays
by Suvayan Sen Gupta / 02:30 pm 25 Sep 2021 Saturday

The proposed merger of Zee Entertainment Enterprises (ZEE) and Sony Pictures Networks India (SPN) will need regulatory and compliance permissions, approval from 75% of shareholders, and could face integration issues, say legal and financial experts. While it takes 30-60 days for the due diligence, stitching the deal will require consent from the lenders, approvals from shareholders and regulatory bodies like the Competition Commission of (CCI), as well as by the National

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Cadila Healthcare enters into an agreement with Shilpa Medicare for production of ZyCoV-D vaccine
by Ayush Agarwal / 02:15 pm 25 Sep 2021 Saturday

Cadila Healthcare said that it has entered into a definitive agreement with Shilpa Medicare, via its wholly owned subsidiary, Shilpa Biologicals for production-supply of the ZyCoV-D vaccine drug substance from its integrated biologics R&D cum manufacturing center at Dharwad, Karnataka.

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