india
The Indian unit of South Korea’s Hyundai Motor Co. has submitted a request for an initial public offering (IPO) to India’s financial regulatory body, marking a significant milestone for the car manufacturer on Dalal Street, Mumbai’s equivalent of Wall Street. This move comes more than twenty years after Hyundai first entered the Indian market. Details of the IPOAccording to the draft red herring prospectus filed with the Securities and Exchange Board of India (SEBI) and reviewed by NDTV Profit, Hyundai Motor India Ltd.’s (HMIL) IPO includes an offer of 142 million shares, representing a 17.5% ...
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Starting with the revolutionary concept of delivering grocery items within minutes, Zomato-owned Blinkit, the market leader in India’s ‘quick-commerce’ (Q-commerce) industry, has broadened its service range. Today, Blinkit delivers not only groceries but also mixer-grinders, ceiling fans, and even printouts of important documents, all with remarkable speed. This expansion into diverse product categories highlights the intense competition within the $2.8 billion market, with rivals like Swiggy’s Instamart and Zepto also vying for a larger market share. Significant investments drive rapid growth...
Invezz
South Korean auto giant Hyundai Motor Co’s Indian arm, Hyundai Motor India Limited, is gearing up to file draft papers with market regulator Sebi to raise around $3 billion via an initial public offer (IPO), according to multiple sources. The targeted valuation for the IPO is between $18 billion and $20 billion, which could make it the largest IPO in India’s history. Potential record-breaking IPOIf the listing plans are successful, it will surpass the previous record set by the state-owned Life Insurance Corporation (LIC) of India’s $2.7 billion listing in 2022. “The plan is for the e-filing o...
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Leaders of advanced economies are gearing up for the annual Group of Seven (G7) meeting in Italy, set against a backdrop of ongoing wars in Europe and the Middle East, and increasing competition between the West and China. The summit, hosted in the picturesque region of Apulia, will take place from June 13 to 15 at Borgo Egnazia, a luxury resort. This marks the 50th G7 Summit. Who is coming to G7 summit?The G7 includes the United States, Canada, Germany, France, Italy, Japan, and the United Kingdom. Leaders from each of these countries will attend, along with the chiefs of the European Council...
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The USD/INR exchange rate dived hard on Monday morning ahead of the official Indian election results scheduled on June 4th. The pair slumped to a low of 83, its lowest level since March 20th. It has dropped by 85 basis points from its highest point this year. India election results and RBI decisionThe Indian rupee will be in the spotlight this week as India concludes its election and as the Reserve Bank of India (RBI) delivers its interest rate decision. Exit polls show that Narendra Modi will likely be declared the country’s president for the third term. There are signs that he will reach the...
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The rise of AI-generated content has brought a new dimension to the ongoing mammoth India elections. With over 800 million internet users, political parties are leveraging artificial intelligence to connect with voters in unprecedented ways. From AI-created avatars delivering personalized messages to AI-powered chatbots mimicking the voices of political leaders, the aim is clear: to influence voter behaviour on a massive scale. Driving through the bustling streets of New Delhi recently, I couldn’t help but notice the digital billboards displaying eerily lifelike AI-generated videos of politici...
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Recent proof has come out of Asia’s digital payments domination – in particular India’s – over developed nations traditionally associated with higher financial sophistication. According to Invezz.com, India is the single fastest-growing region for cashless transactions in 2023 and 2024, which cites a raft of recent research on this. Asia the world’s number one On May 10 Statista, citing recent research from the Capgemini Research Institute for Financial Services Analysis, showed how the Asia-Pacific region, led largely by India, will make more digital payments than Europe and North America com...
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New York cocoa futures on ICE rebounded this week, recovering from a sharp decline. July New York cocoa (CCc2) settled up $156, or 2.2%, to $7,322 per metric ton. This follows a nearly 20% drop on Monday. Dealers highlighted the extreme volatility in cocoa prices as the market attempts to stabilize after a significant fall of about 40%. Prices plummeted from a record high of $11,722 on April 19 to a low of $6,990 on May 3. Fundamentals remain supportive for cocoa, with forecasts predicting a large global deficit in the 2023/24 season due to poor crops in major producers Ivory Coast and Ghana. ...
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Shares of Vedanta reached a 14-year peak of Rs 438.30, climbing 6% on the Bombay Stock Exchange during Tuesday’s intra-day trade, buoyed by heavy trading volumes. This significant uptick follows the company’s announcement that its board will convene on Thursday, May 16, to discuss a fundraising plan. Alongside these deliberations, the board is set to review the potential distribution of a first interim dividend on equity shares for the financial year 2024-25. Vedanta is currently trading at its highest level since May 2010, with the stock having appreciated by 75% over the past two months. Ved...
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Tata Motors Limited (TATAMOTORS.NS), the multinational car manufacturer based in Mumbai, India, has had a rough weekend and Monday so far. Shares of Tata were down close to 9% today at the time of this article’s writing, and almost 100 Indian rupees (93,80 INR) since Friday morning – losing close to 10% of the total current share price. But why? Tata’s latest earnings announcedOn May 10, Tata Motors released their Q4 financial results for 2024. The earnings were largely within market expectations, and showed resilience during a challenging quarter, with revenue up 13% to ₹120.0K Cr for the ent...
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