Bschool Bulletin (2024)

05/06/2020

1:
Abu Dhabi-based sovereign investor Mubadala Investment Company will invest Rs 9,093.60 crore for a 1.85% equity stake in Jio Platforms. This will be the sixth investment in Jio, which has an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
“I am delighted that Mubadala, one of the most astute and transformational global growth investors has decided to partner us in our journey to propel India’s digital growth towards becoming a leading digital nation in the world."
Source: Economic Times

2:
Months after billionaire Mukesh Ambani's upstart wireless carrier swept into the No. 1 spot, a trounced rival is mounting a comeback, and investors are loving it. Bharti Airtel Ltd. is the best performer on India's stocks benchmark this year, jumping 26 per cent and reaching a record on May 19, amid optimism the carrier will continue to attract bigger-spending users. The stock surged Thursday in Mumbai after Reuters reported Amazon.com Inc. was in early talks to buy a stake of at least $2 billion.
Source: NDTV Profit

3:
Vodafone Idea has re-entered the elite club of top-100 most valued Indian companies in terms of market valuation as the stock price of the telecom services provider more-than-doubled in the past one month. Vodafone Idea is promoted by British telecoms giant Vodafone Plc and Indian Aditya Birla group.
With market capitalisation (m-cap) of Rs 26,522 crore, Vodafone Idea stood at number 96th position in the overall m-cap ranking at 09:27 am, the BSE data shows.
Source: Business Standard

02/06/2020

1:
Labour market conditions improved in May as a number of people returned to work, despite the unemployment rate remaining "very high" at 23.5 per cent, think-tank Centre for Monitoring Indian Economy (CMIE) said on Tuesday. A total 2.1 crore jobs were added in May, and the labour participation rate improved significantly, CMIE said in a statement released on Tuesday. The latest data on unemployment from the private sector think-tank comes days after the country entered the fifth phase of a nationwide lockdkown to curb the spread of the coronavirus pandemic, which has battered an already-slowing economy in a big blow to businesses and workers.
Source: NDTV

2:
The three schemes are:
(i) Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing: The PLI Scheme will extend an incentive of 4% to 6% on incremental sales (over a base year) of goods manufactured in India and covered under the target segments.
(ii) Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS): The SPECS shall provide a financial incentive of 25% on capital expenditure for the identified list of electronic goods.
(iii) Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme: The EMC 2.0 will provide support for the creation of world-class infrastructure along with common facilities and amenities, including Ready Built Factory (RBF) sheds / Plug and Play facilities for attracting major global electronics manufacturers.
Source: Voice N Data

3:
The Sensex and the Nifty ended the day with massive gains on Monday, rising for fourth straight session. Easing of lockdown, better than expected GDP numbers and positive global sentiment boosted market sentiment. Buying was broad based with banks, metals and auto stocks in demand.
As per provisional closing, the barometer S&P BSE Sensex jumped 831.62 points or 2.56% at 33,255.72. The Nifty 50 index gained 234.80 points or 2.45% at 9,815.10.
Source: Yahoo Finance

01/06/2020

1:
In a major blow to Flipkart, the Indian government has rejected Walmart-owned e-commerce firm's proposal to enter the nation's fast growing food retail market, citing regulatory hurdles. The online retailer has set up a new local entity Flipkart Farmermart, with an authorised equity capital of Rs 1,845 crore, to take on arch-rival Amazon in food retail business in India.
The Department for Promotion of Industry and Internal Trade (DPIIT), a part of Ministry of Commerce and Industry, told Flipkart that its plan to foray into Indian food retail business does not comply with regulatory guidelines.
Source: Business Today

2:
Ease of Doing Business for MSMEs: It is almost unimaginable to an average businessman in our country that in many other countries such as the US, you can start a business, run it efficiently, get into manufacturing, export your products, get the licenses you need, obey the laws, and all of it without having to deal with a ‘Babu’.
Ease of Doing Business for MSMEs: Is the concept of resurgent India too far to imagine in these times? Especially in the midst of this mayhem across the world where global trade may have fallen by as much as 30 per cent, GDP growth rates have declined precipitously and unemployment is likely to rise beyond any previously recorded levels.
Source: Financial Express

3:
Equity benchmark Sensex surged 879 points on Monday, driven by gains in Reliance Industries, HDFC twins and TCS as investor optimism heightened after the government began the process of unlocking the economy.
Positive cues from global markets too buoyed investor sentiment here.
After skyrocketing 1,250 points during the day, the 30-share index settled 879.42 points or 2.57 per cent higher at 33,303.52.
Similarly, NSE Nifty surged 245.85 points or 2.57 per cent to finish at 9,826.15.
Source: TheHindu

31/05/2020

1:
India’s FDI inflows, including reinvested earnings, rose 18% to a record $73.5 billion during 2019-20, buoyed by a spurt in inflows into computer hardware & software, telecom, and hotel & tourism, while services, the traditional mainstay, witnessed a decline. Excluding reinvested earnings, inflows were 14% higher at just a shade under $50 billion, which is also an all-time high.
In fact, the large flows acted as a counterweight to low FII inflows during the year, which were estimated at $247 million (on a net basis) during the last financial year.
Source: LatestTalks

2:
China’s factories are starting to hum again, but executives are now worried that the rebound could falter on weak demand at home and abroad.
Justin Yu, a sales manager at Zhejiang-based Pinghu Mijia Child Product Co. that makes toy scooters sold for American retailers, is among those seeing their order book improve from the depths of the coronavirus lockdown, but remain well below normal.
“We are seeing more orders coming in this month as we get closer to our normal peak season.
Source: EconomicTimes

3:
Riding on the Rs 1.3 lakh crore in aggregate fund raising in the last few weeks, RelianceNSE -0.53 % Industries is expected to repay its entire reported net debt even if the Saudi Aramco deal is delayed, a brokerage report said.
The company, controlled by billionaire Mukesh Ambani, has sold minority stakes in its digital arm to Facebook and private equity firms such as Silver Lake, Vista Equity, KKR and General Atlantic to raise a cumulative Rs 78,562 crore. Also, the company is raising ..
Source: EconomicTimes

30/05/2020

1:
As India Malaysia Political ties improved under the new Malaysian PM Muhyiddin Yassin, business ties between the two countries have also seen some breakthrough.
While Indian oil refineries are importing more crude palm oil, Malaysian import of rice and sugar from India has reached a record level. Due to the export levy imposed by Indonesians, Malaysian palm oil is comparatively cheaper.
Source: WioNews

2:
The Centre could soon give a green signal for oil companies to begin home delivery of petrol and CNG. Oil Minister Dharmendra Pradhan gave hint to this step on Friday to help vehicle owners during the ongoing lockdown restrictions across the country.
The minister that the government "would like to expand the same for petrol and LNG", just like diesel. Pradhan was quoted by PTI saying, "People would be able to get the home delivery of the fuel in future."
Source: HindustanTimes Auto

3:
Due to nationwide lockdown, the output of eight core industries for April 2020 contracted a whopping 38.1% as compared to decline of 9% in the previous month (March 2020). The output of eight infrastructure sectors saw 5.2% growth in April 2019.
The lockdown that was necessitated by coronavirus saw coal, cement, steel, natural gas, refinery, crude oil experience substantial loss of production in the month of April, government data shows.
The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
Source: liveMint

29/05/2020

1:
Shares of Vodafone Idea jumped 35 per cent in Friday's trade after a Financial Times report on Thursday said Alphabet Inc’s Google is exploring an investment in Vodafone Group Plc’s struggling India business. However, the stock pared gains following a clarification by the telecom company.
"Currently, there is no proposal as reported by the media that is being considered at the Board," the company said in a clarification.
Source: EconomicTimes

2:
German car giant Volkswagen is not stepping off the accelerator under its India 2.0 roadmap, despite the near-term impact of the Covid-19 pandemic and the nationwide lockdown. The maker of the Polo hatchback, is also scaling up its used car business as it hopes that more people will prefer to commute via their own vehicles instead of taking the public transport due to coronavirus and the social distancing norms, Steffen Knapp, director, Volkswagen Passenger Cars India, told THE WEEK.
Source: TheWeek

3:
Airline major SpiceJet plans to use drones for cost -effective delivery of medical, essential supplies and e-commerce. The airline company, the only one till now, has received approval from the Directorate General of Civil Aviation (DGCA) to conduct drone trials.
Post trials and approvals, SpiceXpress, the dedicated cargo arm of the airline, plans to use drones to provide for a "quicker, faster and a cost-effective delivery of medical, pharma and essential supplies and e-commerce products".
Source: Swarajyamag

news

28/05/2020

1:
Tech giant Microsoft is reportedly looking to join the parade of investors in Reliance Jio Platforms, with reports of a $2 Bn investment in Reliance’s digital services company.
Jio Platforms which runs Reliance Jio, Jio Fiber, MyJio, JioTV, JioCinema, Jio Mart JioNews, JioSaavn and other services has recently raised over $12.3 Bn from investors such as Facebook, KKR, Vista Equity Partners in recent weeks.
Source: Inc42

2:
At least 49 million people across the world are expected to plunge into “extreme poverty” -- those living on less than $1.90 per
day -- as a direct result of the pandemic’s economic destruction and India leads that projection, with the World Bank estimating
some 12 million of its citizens will be pushed to the very margins this year.
Some 122 million Indians were forced out of jobs last month alone, according to estimates from the Center for Monitoring
Indian Economy, a private sector think tank. Daily wage workers and those
employed by small businesses have taken the worst hit. These include hawkers, roadside vendors, workers employed in the
construction industry and many who eke out a living by pushing handcarts and rickshaws.
Source: TOI

3:
The government has for the second time extended the deadline for bidding for privatisation of India's secondbiggest oil refiner Bharat Petroleum Corp Ltd (BPCL) by over a month to July 31.
While the Cabinet had in November last year approved the sale of government's entire 52.98 per cent stake in BPCL, offers
seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7.
Source: TOI

27/05/2020

1:
The govt seeks to push domestic manufacturers up the value chain. But that needs a lot of work on the ground.
Besides consistency in policy, the success of the strategy would need relief from what the industry calls ‘disabilities’ from poor infrastructure and inefficient logistics.
Source: LiveMint

2:
Ola Electric has announced its foray into global and local electric-two wheeler markets. The company will soon launch an electric scooter in India. And to push that project forward, Ola Electric acquired an Amsterdam based company called Etergo BV, which is an OEM engaged in manufacturing electric two-wheelers. Etergo is a fairly new company, founded in 2014 and one of its biggest successes was the Appscooter. The scooter has won multiple awards across the world for innovative design and engineering. The Appscooter has a range of 240 km on a single charge and features high energy density batteries.
Source: Carandbike

3:
SAP has announced the availability of SAP S/4 HANA Cloud and SAP Commerce Cloud in India. With its core applications hosted locally, SAP said Indian enterprises can now meet end-to-end customer demands and make commerce frictionless, while ensuring compliance with current and upcoming personal data protection bills.
Source: TOI

24/05/2020

1:
The coronavirus pandemic has not spared any sectors. Along with the loss to lives, livelihoods too have faced significant damages. Moreover, the Indian startup ecosystem has not been immune to it as well.
However, the edtech sector has stood its ground during such unprecedented times. With schools and universities shut due to the pandemic-led lockdown, the education system in India has undergone a paradigm shift, with many edtech startups leveraging the situation to their benefit.
Source: Yourstory

2:
India has regained 65% of its appetite for fuel and demand will reach nearly pre-pandemic levels next month as
economic activities pick up pace after the government’s announcement of a stimulus package and staggered easing of Corona
restrictions, oil minister Dharmendra Pradhan told TOI on Saturday.
“The world has seen an unprecedented erosion in fuel demand. Many countries saw refineries being shut down, plans being
rescheduled."
Source: TOI

3:
Bayer CropScience Ltd has reported a net profit of Rs 31.5 crore in the fourth quarter of 2019-20 fiscal on strong revenue.
The company had posted a net loss of Rs 57.1 crore in January-March quarter of the last fiscal, a regulatory filing said on Friday.
Total income rose to Rs 458.7 crore during the quarter under review from Rs 252.2 crore in the same quarter a year ago.
Source: Moneycontrol

23/05/2020

1:
If the world is to gain access to a vaccine for Covid-19, there's a good chance it will pass through the doors of
Serum Institute of India.
Serum Institute, the world's largest manufacturer of vaccines by volume, is working on several candidates for the
novel coronavirus - including potentially mass-producing the
AstraZeneca/Oxford university one that has garnered global headlines - as well as developing its own.
Source: TOI

2:
With the recent strategic partnership with Facebook, Reliance Jio had announced JioMart, where consumers could get access to the nearest kirana and departmental stores and order online and eventually via WhatsApp. The service is said to be live in major metro cities including Mumbai, Delhi, Bengaluru, Chennai and Kolkata.
Reliance is yet to launch a dedicated app, but a dedicated website (www.jiomart.com) is live. The company is yet to confirm the list of cities, however certain pincodes in the above mentioned are marked as service-able.

3:
Finance Minister Nirmala Sitharaman asked the PSU banks to implement sector-specific measures to make the benefits of Rs 21 lakh crore economic package reach on the ground. In a review meeting with the heads of the PSU banks, FM Sitharaman urged them to utilise the sectoral measures announced as part of the Atmanirbhar Bharat package, which was rolled out in the wake of the coronavirus-led crisis. The public sector banks play an important role in transmitting the benefits to people and businesses in need, hence it becomes important that they keep their actions in-line with the newly announced policies and measures.
Source: Financial Express

22/05/2020

1:
Amazon India on Thursday said it is launching its food delivery operations
in select parts of Bengaluru, a move that will see the ecommerce giant compete against major players like Zomato and Swiggy in the country.
The announcement by Amazon India - which has been testing the service for a few months - comes at a time when Zomato and
Swiggy have announced laying off over 1,600 employees amid the COVID-19 pandemic.
Source: TOI

2:
Reliance Industries on May 22 said KKR will invest Rs 11,367 crore for 2.32% stake in Jio Platforms. This is the fifth big-ticket deal announced by the oil-retail-to-telecom conglomerate in the past month.
This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This is KKR’s largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
Source: Moneycontrol

3:
Moody's Investors Service said on Friday that economic damage as a result of India's coronavirus lockdown will likely be extensive and reflect the country's inherent economic vulnerability and fiscal constraints.
The report pointed out that this will have wide-ranging effects on both public and private sectors.
Moody's Investors Service has released a report titled "Coronavirus - India: Lockdown compounds economic challenges as credit risks rise in many sectors".
Source: IndiaTv News

21/05/2020

1:
Amid the pandemic, Facebook is making a push into ecommerce with an initiative named Facebook Shops. The company said
this will allow small businesses to set up shops on Facebook and Instagram, where they can upload their catalogue. A user can then complete a
transaction within Facebook without the need to go outside of the platform.
Source: TOI

2:
Amazon India on Thursday said it is launching its food delivery operations in select parts of Bengaluru, a move
that will see the e-commerce giant compete against major players like Zomato and Swiggy in the country.
The announcement by Amazon India - which has been testing the service for a few months - comes at a time when Zomato and
Swiggy have announced laying off over 1,600 employees amid the COVID-19 pandemic.
Source: TOI

3:
South Korean major Samsung on Thursday announced it has partnered with Facebook to train offline retailers in digital marketing and grow their businesses online across Facebook family of apps in the social distancing times.
In the first phase, Samsung and Facebook have already trained more than 800 offline retailers, with more training sessions lined up in the coming weeks.
The major focus of trainings is on enabling offline retailers build a digital presence across Facebook, Messenger, Instagram and WhatsApp.
Source: Indiatv News

20/05/2020

1:
The US on Tuesday included the India unit of Huawei along with its other foreign subsidiaries in its Entity List, as part of efforts to prevent the Chinese telecom company from doing business in America. The Trump administration in recent months has increased its action against Huawei, preventing it from doing business in the US, as it believes the company known for its technological advancement in 5G is being used by the Chinese leadership in Beijing to serve their interest.
Huawei and its non-US affiliates have been added to the Entity List, because they pose a significant risk of involvement in activities contrary to the national security or foreign policy interests of the United States, said a notification issued in the Federal Register on Tuesday.
Source: IndiatvNews

2:
The multinational corporation, Amazon has launched a virtual internship program for the students in India. The summer internship program has been shifted in online mode due to the lockdown enforced to control the spread of coronavirus in the country.
The company has virtually recruited undergraduates, MBA students, and graduates for various business roles across technology, consumer business, operations and finance.
Source: Career360

3:
Indian Railways’ big ‘Make in India’ success! The first WAG12B (12000 HP) locomotive, manufactured under Narendra Modi government’s ‘Make in India’ initiative recently departed from the Pandit Deen Dayal Upadhyaya railway station in Uttar Pradesh. According to Railway Minister Piyush Goyal, the WAG12B (12000 HP) freight locomotive is powerful and is capable of high speed, thus, it is a significant addition to the Indian Railways network. The train departed with WAG/12B-60027 at a speed of 100 Kmph from DDU at 2:08 PM in long haul formation for Pandit Deen Dayal Upadhyaya Junction-Barwadih Junction (BRWD) section of DDU and DHN divisions of East Central Railway zone.
Source: FinancialExpress

20/05/2020

1:
The multinational corporation, Amazon has launched a virtual internship program for the students in India. The summer internship program has been shifted in online mode due to the lockdown enforced to control the spread of coronavirus in the country.
The company has virtually recruited undergraduates, MBA students, and graduates for various business roles across technology, consumer business, operations and finance.
Source: Career360

2:
The US on Tuesday included the India unit of Huawei along with its other foreign subsidiaries in its Entity List, as part of efforts to prevent the Chinese telecom company from doing business in America. The Trump administration in recent months has increased its action against Huawei, preventing it from doing business in the US, as it believes the company known for its technological advancement in 5G is being used by the Chinese leadership in Beijing to serve their interest.
Huawei and its non-US affiliates have been added to the Entity List, because they pose a significant risk of involvement in activities contrary to the national security or foreign policy interests of the United States, said a notification issued in the Federal Register on Tuesday.
Source: IndiatvNews

3:
Indian Railways’ big ‘Make in India’ success! The first WAG12B (12000 HP) locomotive, manufactured under Narendra Modi government’s ‘Make in India’ initiative recently departed from the Pandit Deen Dayal Upadhyaya railway station in Uttar Pradesh. According to Railway Minister Piyush Goyal, the WAG12B (12000 HP) freight locomotive is powerful and is capable of high speed, thus, it is a significant addition to the Indian Railways network. The train departed with WAG/12B-60027 at a speed of 100 Kmph from DDU at 2:08 PM in long haul formation for Pandit Deen Dayal Upadhyaya Junction-Barwadih Junction (BRWD) section of DDU and DHN divisions of East Central Railway zone.
Source: FinancialExpress

19/05/2020

1:
Pre-owned luxury car retailer Big Boy Toyz (BBT) is set to make
foray into the eastern India’s used car market with Kolkata being its trading hub after the lockdown. At a time when the
lockdown has hit hard the automobile industry, the retail giant is eying on the new venture into the city that, they hope, will
pave the way for business growth with “huge demand” for used cars in the range of Rs 80 lakh to Rs 3 crore. If things work out
according to plan, the company will control their clientele in Jharkhand, Bihar, Odisha and other parts of eastern India from their
upcoming outlet on Park Street in the city.
Source: TOI

2:
Casa Everz Gmbh, the owner of Germany-based
healthy footwear brand Von Wellx, will be shifting its entire shoe
production of over three million pairs annually in China to
India with an initial investment of Rs 110 crore, according to a top official of the company's licensee Iatric Industries Pvt Ltd.
A new manufacturing unit will be set up with a production capacity of over three million pairs in Uttar Pradesh through a
collaboration with Iatric Industries Pvt Ltd as part of an understanding with the state government.
"Yes, after multiple rounds of discussions, Casa Everz Gmbh has decided to shift its entire production from China to India," Iatric
Industries Pvt Ltd Director and CEO Ashish Jain told PTI in an e-mailed response.
Source: TOI

3:
1:
The Lancashire County Cricket Club is planning big for India. Lancashire is considered as one of big financial success story of the England cricket’s county system and now they want to grow their brand in the world’s biggest cricket market. Daniel Gidney, the CEO for the country told Reuters that they will be soon unveiling their India plans.
“We have a big growth plan for India,” said Gidney, who noted the success of the India v Pakistan World Cup game at the venue last summer.
Source:Insidesport

18/05/2020

1:
SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son.
The departure of Ma, who retired as Alibaba's executive chairman in September, comes as he pulls back from formal business roles to focus on philanthropy.
SoftBank will propose three new appointments to the board, including group Chief Financial Officer Yoshimoto Goto, at its annual general meeting on June 25. The number of board members will expand to 13.
SoftBank will also propose the election of Lip-Bu Tan, CEO of chip design software firm Cadence Design Systems who is also chairman of venture capital firm Walden International, and Yuko Kawamoto, a professor at Waseda Business School as outside directors. Kawamoto will become its only female board member.
Source: Business Standard

2:
Gold prices in India hit new highs for the second day in a row, tracking firm global rates. On MCX, June gold prices surged 1% to a new high of ₹47961 per 10 gram. Silver futures in India rose nearly 5% to 48,999 per kg, adding to Friday's ₹2,586 gain. Gold prices in India include 12.5% import duty and 3% GST. In India, the government has eased some coronavirus-driven restrictions, allowing shops and markets including barber shops, salons and spas except those in malls to open with staggered timings and some safeguards.
Source: Mint

3:
Because of the coronavirus crisis which originated from Wuhan, China, several companies are looking to move out of China. In fact, the Japanese government has allocated an economic stimulus package of $2.2 billion to help its manufacturing firms shift production out of China, where supply chains have been disrupted due to pandemic.
India is planning to attract some of these companies looking to diversify their manufacturing units and supply chains. In a recent ET Now webinar, self-made billionaire entrepreneur Mark Cuban said that There's always a great business opportunity to create, support, or invest in India.
Source: TimesNow News

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