As part of the Local for Vocal initiative, India is making a strong course correction in the toy manufacturing ecosystem. The country’s massive toy demand was till recent years met mainly through imports, largely from neighbouring China. India’s toy imports from China have reduced by an estimated 70 per cent over the recent years. Policy … Read more
Inflation, or “Mehengai,” is a term that often sends shivers down the spine of any economy, especially when it skyrockets. High inflation rates can strain both the pockets and patience of citizens. So, it’s pretty impressive when a leader manages to keep it under wraps. This is the tale of Prime Minister Narendra Modi, whose … Read more
In yet another strong regulatory action, the Reserve Bank of India (RBI) on Wednesday directed private sector bank Kotak Mahindra Bank to cease and desist from onboarding of new customers through its online and mobile banking channels with immediate effect. Additionally, the RBI also ordered the bank to stop issuing any fresh credit card. However, the RBI … Read more
In another step towards consolidating airline businesses, the Tata group has finalised the merger of Air India and Vistara. Reportedly, Tata group and Singapore Airlines (SIA), the joint owners of Vistara, have agreed to the merger. Tatas may own around 75% of the amalgamated company, with SIA holding the remaining 25% share. Currently, Tatas and SIA hold … Read more
The World Bank increased its estimate of India’s GDP growth to 6.9 percent for 2022-23, up from the 6.5 percent predicted previously. The World Bank has raised India’s GDP growth prediction for the current financial year due to the country’s strong economic performance. According to the World Bank’s latest India Development Update, retail inflation is expected to … Read more
On Wednesday 4th January 2024, personal care brand Mamaearth’s co-founder took to Twitter to respond to rumours that the company’s proposed IPO is highly overvalued. After Mamaearth owner Honasa Consumer filed the Draft Red Herring Prospectus (DRHP) to the market regulator Securities and Exchange Board of India (SEBI) for raising capital through an IPO, it is … Read more
Paytm’s stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold. The shares were sold at Rs 535.90 worth Rs 13.93 crore. Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total equity of … Read more
Recently, Adani Group announced the withdrawal of its fully subscribed FPO. Calling it a morally correct step, Gautam Adani said in a statement that the board took the decision considering the volatility of the market. The money that got locked in the subscribers’ accounts will be released soon via escrow. In the statement, there were several technical terms that … Read more
Union Finance Minister Nirmala Sitharaman on Saturday said that regulators independent of the government will do their jobs and that a pullout of FPO pullout will not have any impact on the perception of India. “Regulators are independent of the government and they are left to themselves to do what is appropriate so the market … Read more
Days after announcing mega deals to purchase 470 aircraft from Boeing and Airbus, Air India on Friday announced that over 4,200 cabin crew trainees and 900 pilots will be hired in the year 2023 to meet its growing manpower needs. Earlier this month, Air India announced two mega order to purchase 220 aircraft from Boeing and 250 … Read more