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The Economic Times
The Economic Times Zetwerk is said to consider raising $1 billion in Indian IPO
The Bangalore-based firm, backed by investors such as Peak XV Partners and Lightspeed India Partners, has held talks with investment banks to help prepare for a potential IPO in Mumbai next year, as per sources.
The Economic Times Plans afoot to put LLPs and cos on par in accounting
The Indian government is considering implementing new accounting standards for large limited liability partnerships (LLPs) to enhance transparency and accountability. These standards, aligned with those for companies, aim to improve financial disclosures and attract more investors to LLPs.
The Economic Times GST dept targets over 1k suspicious firms, Rs 124 cr tax evasion uncovered
A total of 1,057 dubious firms were detected by the GST department of which 205 firms were investigated by Madhya Pradesh team through data analytics whilst a list of 852 firms were communicated by other states.
The Economic Times GST Council call on insurance next month
The GST Council is set to discuss reducing the GST on term insurance plans to zero and offering similar relief for health insurance, particularly for senior citizens and those seeking coverage up to Rs 5 lakh. However, broader GST rate rationalization faces resistance from states concerned about revenue loss, potentially impacting decisions on essential goods and luxury items.
The Economic Times Integrated Air India-Vistara entity's first flight takes off from Doha
The first flight of the integrated Air India-Vistara entity took off for Mumbai from Doha on Monday night. The flight operating with the code 'AI2286' departed Doha at around 10.07 pm local time and is expected to land in Mumbai early on Tuesday morning.
The Economic Times RIL to pump Rs 65,000 cr into Andhra Pradesh for 500 biogas plants, its biggest RE investment outside Gujarat
Reliance Industries Ltd is set to invest a record Rs 65,000 crore in Andhra Pradesh. The company plans to establish 500 compressed biogas plants over the next five years, generating an estimated 250,000 jobs. This landmark investment, the largest outside Gujarat for RIL, aligns with the state's clean energy initiatives and promises significant economic benefits, including increased farmer incomes.
The Economic Times High-cost GPUs not fit for next phase of AI
The maker of SN40L reconfigurable dataflow unit (RDU) chip has positioned itself as a power-efficient alternative meant for better inferencing speed and accuracy as compared to Nvidia GPUs. Backed by investors like SoftBank, Blackrock, Intel Capital, GV, Walden International, Temasek and GIC, the AI chip maker is valued at $5.1 billion and serves customers like Saudi Aramco, Accenture and Analog Devices.
The Economic Times ED may summon Amazon, Flipkart executives as companies face heat in India
The Enforcement Directorate is intensifying its investigation into Amazon and Flipkart for alleged violations of foreign investment regulations. The agency conducted raids on sellers associated with both companies. The ED suspects that Amazon and Flipkart exert excessive control over inventory through these sellers. This practice potentially violates Indian laws governing foreign e-commerce companies. Both companies assert compliance with all regulations.
The Economic Times Hindalco to spend $4-5 bn on upstream expansion
Hindalco Industries plans to invest $4-$5 billion over three years to expand its aluminum and copper production facilities. The company reported a 78% jump in net profit for the September quarter, reaching ₹3,909 crore, driven by strong performance in its India business. This includes the construction of a new aluminium smelter, alumina refinery, copper smelter, and a copper recycling plant.
The Economic Times Goldman Sachs look to join hands with Bhartias of Jubilant for HCCB stake buy, to finance upto Rs 3500 cr
The Bhartia family and Goldman Sachs are joining forces for a significant deal. They are planning to acquire a large stake in HCCB, the bottling arm of Coca-Cola in India. Goldman Sachs will provide substantial financial backing for this venture. The deal involves a planned future listing of HCCB, allowing Goldman Sachs to exit strategically. This move mirrors PepsiCo's successful strategy with Varun Beverages.
The Economic Times Bangladesh may need Indian help to manage economy
Bangladesh's reliance on India extends beyond electricity to encompass various infrastructure projects financed by Indian credit lines worth $8 billion. This dependence is evident in sectors like transportation, irrigation, and energy, with Bangladesh importing 1,160 MW of power from India. Experts suggest this reliance, while fostering growth, also exposes Bangladesh to economic vulnerabilities.
The Economic Times AI leaders in India see 1.5x revenue growth, only 26% are fully mature: BCG Report
A BCG report reveals that just 26% of Indian firms have reached AI maturity, yielding 1.5x revenue growth and 1.8x shareholder returns. These AI leaders concentrate efforts on critical functions, follow the "10-20-70 principle," and lead in GenAI adoption.
The Economic Times CEOs in infrastructure and transport sector focus on ESG and Gen AI amid growth prospects: KPMG
The survey indicates that 57% of CEOs believe stakeholder expectations on ESG are evolving faster than they can adjust their strategies, with more than half concerned that inadequate climate adaptation could negatively impact growth in the short to medium term.
The Economic Times NABARD opens hiring for CFO
NABARD is seeking candidates for the role of Chief Financial Officer, having a minimum experience of 15 years, including 10 years in banks or financial institutions, with at least five years at a senior management level. The applications shall close on 18th of November, 2024.
The Economic Times Keystone Realtors expects to surpass Rs 4,000 cr FY25 projects addition guidance
Keystone Realtors, operating as Rustomjee, is set to surpass its target of adding Rs 4,000 crore worth of projects in FY24-25. They've already added over Rs 2,300 crore in the first half, including forays into redevelopment and plotted developments. With a robust pipeline and over Rs 900 crore in dry powder, the company is well-positioned for continued growth.
