CreditAccess India BV, a Netherlands-based firm with a 66.56% stake in CreditAccess Grameen, is aiming for a $2.7 billion valuation for the microfinance company, according to a report by Mint. If successful, this deal would become the largest transaction in India’s $51 billion microfinance sector.
To facilitate the sale, CreditAccess India has enlisted investment banks Jefferies, Barclays…
Madhya Pradesh Chief Minister Mohan Yadav announced on August 8, 2024, that Google Cloud is set to establish a major startup hub and a centre of excellence in the state. This development is part of a broader effort by the state to enhance its technology sector and attract significant investments, creating thousands of new employment opportunities.
Investment Surge and Strategic Initiatives
During…
The Moneycontrol Startup Conclave 2024, held in Bengaluru, has emerged as a pivotal platform for addressing the future of entrepreneurship and innovation. With the theme “Persist | Reset | Rebuild,” this year’s event has brought together a stellar roster of policymakers, industry leaders, and investors to explore the evolving landscape of startups.
Keynote speaker Amitabh Kant emphasized the…
Italian luxury automobile manufacturer Automobili Lamborghini has warmly welcomed the Uttar Pradesh government’s recent decision to eliminate registration fees for hybrid vehicles. This policy shift, announced on August 9, 2024, marks a significant step towards promoting environmentally friendly technology in one of India’s most populous states. The move is expected to have a substantial…
Hindustan Zinc, a major player in the global mining sector and a subsidiary of Vedanta Resources, is advancing a strategic revision of its demerger plan aimed at significantly enhancing its market capitalization. The new proposal, which seeks to split the company into two separate entities, is expected to add between $3 and $4 billion to the company’s market value, according to Arun Misra, CEO…
Jindal Steel, a major player in India’s steel industry and led by Naveen Jindal, has significantly reduced its reliance on Australian coking coal by more than 50%, according to a recent statement. This strategic move aims to mitigate geographical risks and manage cost pressures more effectively.
In a bid to diversify its supply chain, Jindal Steel has sourced new supplies of coking coal from…
Chennai Petroleum Corporation Ltd (CPCL), a prominent subsidiary of Indian Oil Corporation (IOC), has reported notable enhancements in its financial performance and operational efficiency for the fiscal year 2024 (FY24). The company achieved a significant increase in margins, thanks largely to its strategic focus on processing cost-effective crude oil. This achievement underscores CPCL’s…
Tim Hortons, the iconic Canadian coffee and fast-food chain, has officially opened its doors in Ahmedabad, continuing its ambitious expansion across India. This latest store launch signifies the company’s ongoing commitment to establishing a significant presence in the Indian market, which has rapidly become one of its most dynamic regions.
The announcement was made by Tarun Jain, CEO of Tim…
Foreign Portfolio Investors (FPIs) shifted to net selling in the Indian stock market, liquidating equities worth Rs 12,404.73 crore during the week of August 5 to August 9, 2024. According to data from the National Securities Depository (NSDL), FPIs sold shares daily throughout the week, with the exception of Friday, when they purchased equities worth Rs 521 crore.
The selling by FPIs is…
Sundar Pichai, CEO of Alphabet and Google, has expressed profound sorrow over the passing of Susan Wojcicki, the former CEO of YouTube, who died after a two-year battle with cancer. Pichai took to social media platform X to share his grief, describing Wojcicki as an integral figure in Google’s history and an irreplaceable friend.
In his tribute, Pichai remarked, “Unbelievably saddened by the…
