Tag: Business

JPMorgan Chase & Co. expects India to raise at least $30 billion annually through primary and secondary share sales in 2024 and beyond, driven by strong corporate earnings, robust economic growth, and demand from local and foreign investors. In contrast, India’s IPO activity has slowed down this year, but a couple of $1 billion-plus IPOs could return after the country’s federal elections next year. Overall, the outlook for India’s equity markets is positive, as the country benefits from investors fleeing other Asian emerging markets such as China.

Summary: A US-Indian joint venture has set up a new oil and gas equipment manufacturing plant in India. The plant will produce pipes and tubes with premium connections for the OCTG market. It is expected to reduce India's reliance on imports and provide domestically manufactured products at a competitive price.

KKR has acquired a 20% stake in SingTel's regional data centre business for S$1.1 billion (US$806.87 million). The deal values SingTel's regional data centre business at S$5.5 billion (US$4.03 billion) and the proceeds will be used to expand the data centre business across Southeast Asian markets, including Singapore, Indonesia and Thailand. The deal comes amid growing global investors' demand for infrastructure assets across Southeast Asia, lured by the region's growth prospects and the sector's stable and long-term returns.

HDFC Bank and CreditWise Capital have partnered to extend two-wheeler loans in Tier 2, 3 and 4 towns of India. The partnership will combine the strengths of the two companies to make two-wheeler loans more accessible and affordable for people in these towns.

Top 10 business news in India: NSE books more profits than 98% of firms listed on bourse. India may introduce new law to regulate broadcasting and streaming services. Homegrown NavIC navigation services to be mandatory on all smartphones. Good September rains could ease consumer inflation. EbixCash's filing for public listing fails to disclose adverse court order.

SAP India, the Indian arm of German software giant SAP SE, is planning to double its share of global SAP patents and add 3,000 jobs per year as it bets bigger on artificial intelligence (AI). The company is also committed to responsible AI development and is working with governments and regulators to ensure that AI is used in a safe and ethical way.

The prices of red chilli, India's most exported single spice, are expected to rise again due to higher festive demand and weak rains in the coming weeks. The prices have fallen from ₹250 per kg to around ₹230 per kg in recent weeks due to subdued export demand and accumulation of sufficient inventory. However, the prices are expected to rise again in the coming weeks due to the Dussehra festival season and the late setting in of the southwest monsoon.

Salesforce CEO Marc Benioff has said that the company's growth in India has exceeded all expectations. He also praised the Indian government's approach to regulations in the tech sector. Salesforce has over 9,000 employees in India and is committed to investing in the country.

Adani Wind, a subsidiary of Adani Enterprises, has received type certification for its 5.2 MW wind turbines. The turbines are India's largest and will be manufactured in India. The certification is a boost to Adani's plans to make India a global manufacturing hub for renewable energy equipment.

Gati expects 18-20% increase in festive season demand, particularly in e-commerce and white goods segments. The company has enhanced its warehousing and service delivery capabilities to meet the expected surge in demand. It has also set up Express Distribution Centres across the country. Gati is confident of meeting the expected demand during the festive season.